Welcome to the Colorado AR-15 Shooters Club Discussion Forums.
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.
My feedback: http://www.ar-15.co/threads/92485-TheWeeze
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.Originally Posted by sniper7
What is my joy if all hands, even the unclean, can reach into it? What is my wisdom, if even the fools can dictate to me? What is my freedom, if all creatures, even the botched and impotent, are my masters? What is my life, if I am but to bow, to agree and to obey?
-- Ayn Rand, Anthem (Chapter 11)
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.
"There are no finger prints under water."
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.
High Yield Savings Account options?
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.
Hell, they could offer 100% bonds and I'm sure people still wouldn't get 'em!Maybe instead of a regular saving acct it was Detroit municipal bond that was issued after the bankruptcy.
(In other news, too bad that your next post'll ruin your fun post count of 5,555!)
High Yield Savings Account options?
It was much higher before the server crash lol
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
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