If you can get away with funding emergencies out of your main account only to stock it back again after selling a some funds, I'd recommend mutual funds all the way. If you can find one earning 5-10% I'd take that all day every day.
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If you can get away with funding emergencies out of your main account only to stock it back again after selling a some funds, I'd recommend mutual funds all the way. If you can find one earning 5-10% I'd take that all day every day.
Fidelity - just because I use them for other things and they are easy to deal with - with their stock MMA I think its .9% but if you have other accounts with them and a high enough balance they will offer you all sorts of 'custom' options. Again this is only if you need it super liquid. If you can handle a 3 day delay then just put it in a trading account and the sky is the limit (on both losses and gains, but anyone who is not making well over 7% these days isn't trying hard enough) - Fidelity allows you to write checks out of there as well with the right account.Quote:
Originally Posted by sniper7
Now we're talking. I'm going over to my credit union today as they have external finance people in house with other options to explore.
Quote:
Originally Posted by ChunkyMonkey
Whatever you say, good thing you are around to tell me that. I bow to your all encompassing knowledge of things that have nothing to do with you.
I'll point out that high (read: 2% or greater) interest rates for savings would be pretty darn unlikely at this point in time. The fed discount rate right now is 0.75%, so why would they want to offer you a higher percentage than that. If somehow you had a guaranteed rate from beforehand, consider yourself lucky.
Don't be so butt hurt for being wrong. I am in banking and even at credit union or mutual saving side, 5% is simply impossible. Long term CD aren't even closed. High yield bond or junk bond with bbb or baa rating is barely in the 4%. Maybe instead of a regular saving acct it was Detroit municipal bond that was issued after the bankruptcy. :)Quote:
Originally Posted by dirtrulz
Hell, they could offer 100% bonds and I'm sure people still wouldn't get 'em!Quote:
Originally Posted by ChunkyMonkey
(In other news, too bad that your next post'll ruin your fun post count of 5,555!)
It was much higher before the server crash lolQuote:
Originally Posted by RblDiver
Yeah, 5% sounds wayyyyy too high.
Junk rated Municipal Bonds are running little north of 5 right now.
Even corporate B-/B3 to Caa/CCC maybe running near 5%.
My advice is just open a money market account with discount brokers, and buy load free index funds (etf) once in a while.
ETA: Some had good luck with P2P lending. I am not huge fan of it, but you might want to look into it.
Some people still have %5 savings accounts from back when that was average and they are contractually locked in. I know one guy with %8 as long as his account doesn't go below 1k they can't move his rate