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Started By
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Best High Yield Savings Accounts?
Posted on 5/29/18 at 5:26 pm
Posted on 5/29/18 at 5:26 pm
I’m looking to put 50k emergency fund into a high yield savings account.
I was able to find a few around 1.85 online
Are there any that are higher that I couldn’t find?
I was able to find a few around 1.85 online
Are there any that are higher that I couldn’t find?
4
Posted on 5/29/18 at 6:11 pm to Finch
quote:
I was able to find a few around 1.85 online
You’re losing money if that’s the rate. Do you max out your Roth IRA? If not use that as your emergency savings account and invest in VTSAX or in your case with only 50k VTSMX.
This post was edited on 5/29/18 at 6:12 pm
Posted on 5/29/18 at 6:55 pm to OleWarSkuleAlum
Little late for the Roth suggestion when he has $50K liquid right now.
You need to have much more information before you can make a recommendation like VTSAX. What if he wants to use that money for something in the next two years? Stock market exposure is not necessarily the right play here.
You need to have much more information before you can make a recommendation like VTSAX. What if he wants to use that money for something in the next two years? Stock market exposure is not necessarily the right play here.
Posted on 5/29/18 at 7:34 pm to lynxcat
Put 20k in a savings account
Put 20k in a low risk bond fund
Put 10k in a moderate risk bond fund.
Put 20k in a low risk bond fund
Put 10k in a moderate risk bond fund.
Posted on 5/29/18 at 8:00 pm to Finch
Goldman Sachs Marcus accounts are yielding the highest I know of right now. Barclays just upped theirs to 1.65%. Both of those are solid, FDIC insured accounts that are very easy to use and access. Pretty much anything higher than that is going to come with a risk of principal loss. This is what our firm recommends for all of our client's emergency fund accounts.
Posted on 5/30/18 at 6:32 am to Finch
Capital One 360 Money Market pays 1.60% APY for balances over $10,000 right now. You get the rate on the entire balance. If you have less than 10K, it's .85%.
No fees. Very flexible on withdrawals. FDIC insured.
No fees. Very flexible on withdrawals. FDIC insured.
Posted on 5/30/18 at 8:18 am to Finch
CIT MMA is 1.85% like you mentioned. Easy website to use. It is a good option for emergency fund.
Posted on 5/30/18 at 9:19 am to ridlejs
Thank everyone for your help
Looks like I’m not missing any big ones
And to answer one of the first replies, we have maxed out 401k. This is strictly an emergency fund that needs to be easily accessible with no risk of principal loss. My wife is extremely risk averse so she needs this for peace of mind.
Looks like I’m not missing any big ones
And to answer one of the first replies, we have maxed out 401k. This is strictly an emergency fund that needs to be easily accessible with no risk of principal loss. My wife is extremely risk averse so she needs this for peace of mind.
Posted on 5/30/18 at 5:54 pm to Finch
VMMXX is paying 1.88%.
Posted on 5/30/18 at 8:04 pm to Finch
Eagle Federal Credit Union offering 2.5-3% APY share certificates next week. 4-48 Month term. One day only.
I do my most of my banking with them, and they are located in BR.
Eagle FCU Share Certificates
I do my most of my banking with them, and they are located in BR.
Eagle FCU Share Certificates
Posted on 5/31/18 at 3:52 pm to TexasTiger34
I have Barclays online savings. I’ve been very pleased with it. They up my rate automatically when rates increase. As others have said it’s up to 1.65% right now. Great place to stash an emergency fund.
If part of your 50k isn’t earmarked for emergencies I’d look into adding a little risk to get a potential 5-8% return. Any amount above a reasonable emergency fund is costing you money in savings account so it’s worth investing.
If part of your 50k isn’t earmarked for emergencies I’d look into adding a little risk to get a potential 5-8% return. Any amount above a reasonable emergency fund is costing you money in savings account so it’s worth investing.
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