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Started By
Message
Looking for a decent rate on a savings account
Posted on 4/1/21 at 3:33 pm
Posted on 4/1/21 at 3:33 pm
What should I expect in looking for a savings account? About to have close to 100K in savings. Should we buy CDs?
Thanks in advance.
Thanks in advance.
10
Posted on 4/1/21 at 3:46 pm to CajunInFL
AMEX Savings accts gives you somethings... better than nothings... no commitment.
Posted on 4/1/21 at 3:47 pm to CajunInFL
quote:
What should I expect in looking for a savings account?
If you can get close to 2%, I'd say that pretty good.
quote:
Should we buy CDs?
It depends on what you have the savings account for. Is it an emergency fund, something for a rainy day, part of your retirement? Also you age and length of time until you retire will also change what you should do with it.
Posted on 4/1/21 at 3:48 pm to CajunInFL
quote:If you’re looking for >1.5% I can loan you my time machine.
What should I expect in looking for a savings account?
Posted on 4/1/21 at 3:49 pm to CajunInFL
I haven’t looked into this yet for myself but I heard you can open an account with Voyager and earn 9% on USDC coin which is always a dollar.
Posted on 4/1/21 at 3:51 pm to amgslg
quote:
I haven’t looked into this yet for myself but I heard you can open an account with Voyager and earn 9% on USDC coin which is always a dollar.
why would you recommend something that you have no knowledge about?
Posted on 4/1/21 at 3:53 pm to iAmBatman
I literally heard about this yesterday and haven’t looked into it beyond checking on Voyager to see that indeed you do earn 9% on USDC with them. The OP is welcome to do further research.
Got any better ideas tough guy?
Got any better ideas tough guy?
Posted on 4/1/21 at 3:56 pm to amgslg
Wealthfront is good. I had a bunch in there until rates tanked and the market took off, so I moved virtually all of it to the market.
quote:
Enjoy high-interest checking with the Cash Account. Manage your money effortlessly and earn 0.35% APY on all your everyday cash, 8x the national average per FDIC.gov.
This post was edited on 4/1/21 at 3:57 pm
Posted on 4/1/21 at 4:04 pm to amgslg
quote:
Got any better ideas tough guy?
Yeah...don't recommend it if you literally just heard about it yesterday and have no clue if it's worth a damn or not.
quote:
The OP is welcome to do further research.
Sounds like something you need to do
Posted on 4/1/21 at 4:19 pm to iAmBatman
quote:Pretty good? Not going to touch 2% on a savings account. Most online accounts are 0.3% to 0.5%.
If you can get close to 2%, I'd say that pretty good.
Posted on 4/1/21 at 4:39 pm to iAmBatman
quote:
If you can get close to 2%, I'd say that pretty good.
I have some reserve funds in a ETRADE savings account getting .05%. Guess I'm getting wrecked on that deal, I just checked it bc of this thread; it was like 1.5% when I opened it. (and they were advertising how good their rate was at the time)
This post was edited on 4/1/21 at 4:40 pm
Posted on 4/1/21 at 5:21 pm to CajunInFL
I use Alliant Credit Union as my main bank. Not only do they pride themselves in constantly trying to compete among the highest savings rates (currently .55%) around they are just an all around awesome bank.
-easy to use interface makes it a perfect banking hub to hook up all your other various bank accounts
-doesnt try to nickel and dime you with BS or excessive fees, few times I got hit with an unexpected fee I called them up for a courtesy reversal
-ability to create extra savings accounts instantly (no credit pull or application) which is handy when you are trying to segment funds
-supports the biggest ATM networks and gives automatic ATM reimbursement fees if you use an out of network ATM
-even gives an interest rate on your checking account
Only negative for me is I dont live anywhere near an actual physical branch location which can become a problem if I ever needed to withdraw a large amount of hard cash on short notice but Ive done just fine banking with them while never stepping foot in a branch after 12+ years
-easy to use interface makes it a perfect banking hub to hook up all your other various bank accounts
-doesnt try to nickel and dime you with BS or excessive fees, few times I got hit with an unexpected fee I called them up for a courtesy reversal
-ability to create extra savings accounts instantly (no credit pull or application) which is handy when you are trying to segment funds
-supports the biggest ATM networks and gives automatic ATM reimbursement fees if you use an out of network ATM
-even gives an interest rate on your checking account
Only negative for me is I dont live anywhere near an actual physical branch location which can become a problem if I ever needed to withdraw a large amount of hard cash on short notice but Ive done just fine banking with them while never stepping foot in a branch after 12+ years
This post was edited on 4/1/21 at 5:23 pm
Posted on 4/1/21 at 5:42 pm to amgslg
I’m currently earning Voyager 9% interest paid monthly. It shows up on the books. I haven’t tried to take it out 
I would certainly classify Voyager in the high risk, unproven pool of “investment” vehicles. You know the old saying, “if it looks too good to be true, . . . “
I would certainly classify Voyager in the high risk, unproven pool of “investment” vehicles. You know the old saying, “if it looks too good to be true, . . . “
Posted on 4/1/21 at 8:30 pm to CajunInFL
Sign up for an account with BlockFi and put it in a stablecoin. USDC is what I have. They pay 8.6% interest.
I’ve pulled money out no problem. It’s legit and the interest is real.
I’ve pulled money out no problem. It’s legit and the interest is real.
Posted on 4/1/21 at 8:38 pm to LSU in Frisco TX
Until it isn’t
Posted on 4/1/21 at 8:40 pm to CajunInFL
Does not exist.
Posted on 4/1/21 at 8:47 pm to LSU in Frisco TX
Yeah I have some bitcoin in blockfi but I'm waiting until bitcoin drops 30% or more one day which is still plausible in my mind even though I'm a bitcoin believer, when I hear reports of getting money out no problem, ill be all in.
Posted on 4/2/21 at 3:38 pm to CajunInFL
My PNC account was getting like 1.5% about a year and a half ago. Now we're down to .4%.
Posted on 4/2/21 at 5:46 pm to CajunInFL
Loan it to me and I’ll beat the 1% rate that you are going to get from a CD.
Posted on 4/4/21 at 9:03 am to CajunInFL
I'd find a nice and very solid dividend stock and load it up into an SEP-IRA or something of the sort. There are a lot of them that pay 5 to 10% dividends. Savings interest is likely to be below the rate of inflation.
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