High Yield Savings Account options?

[Bailey Guns]

5% cash back is all I found --- https://creditcards.chase.com/freedom/Activate.aspx

Far cry from a 5% Yield on Savings

And they aren't paying that 5% (limited time and limited stores) back by paying 5% on savings accounts.

[eneranch]

And they aren't paying that 5% (limited time and limited stores) back by paying 5% on savings accounts.

^^^ What he said

[dirtrulz]

You need to do some real legwork, life exists off the internet you know. Not everyhting can be googled.

Its an online savings account. We set it up 3 or 4 years ago. We had to call them to get the offer. Who knows whether you can still do it or not, that is why I said it may be worth some research. The only way to access it is basically online, the local branch does not even show it on our records. I find it so funny that all of you are so sure you know it all when I have the account paperwork at home that says differently. There are many options out there if you are willing to do a little digging. Etrade used to have some really goods deals, dont know what they are offering now. Open an etrade account and put your money in a mutual fund, some are doing really well right now, I have a couple that are doing over 25% so far this year with a life avg of 15%, and you can put money in and take it out whenever you want for etrades fee, which isnt very much. Honestly putting your money in a bank just guarantees is will never grow.

[Bailey Guns]

A mutual fund account isn't the same as a savings account. CD rates in 2010 were in the 2% - 2.5% range. You may be earning 5% on a mutual fund (in which case you're doing pretty damn good). You are not earning 5% on a savings account like you initially stated. I don't have to see your statement to know that.

[Irving]

It doesn't have to be a savings account. I just want some where to put money to work, and have it be accessible. Silver would not be liquid enough.

[sniper7]

My buddy mentioned a credit union up near Loveland or ft Collins that offered close to 5% on a savings account or maybe even a checking account. Been a couple years but it was definitely up near 5%, not .05 as that is all I get now....if I'm lucky.

[dirtrulz]

Where did I say the chase account was a mutual fund? Etrade also does savings accounts. I guess I should have made it more obvious that I changed subject a little when I went to funds. I have quite a few funds that are doing well over 5% life avg. The wife just told me it went down to 3.75 a few months ago, which is probably still impossible.

Heres an interesting site that offers 1% Smartypig.com

If you are putting your money in a bank and actually expect it to grow you are kidding yourself.

[Dave]

Not everything can be googled but it's an online account? How about you share the details and help people out instead of just saying "hahaha fuckers I get this much on my account but on how you can get the same."

I went to bank rate's site and the best I can see is 1% on a 10k initial deposit. http://www.bankrate.com/funnel/savin...130809140443:s

How liquid does it need to be? I'd see if your bank/CU offers investments and see if they have a T-Bill fund you can get into if risk and volatility are your concerns. It would only take a couple of days for funds to be transferred to your checking or savings and the only risk on them are the US gov't going belly up. If you want immediate access to cash, I'd go with the old mayo jar since a less than 1% rate may not be worth the risk associated with bank failure.

[kawiracer14]

I use Emigrant Direct for a "high yield" savings account and that gives 0.5% .... you ain't gonna find anything that gives any real results in a Savings Account.

[dirtrulz]

It doesn't have to be a savings account. I just want some where to put money to work, and have it be accessible. Silver would not be liquid enough.

How liquid do you need it? Will you need instant "oh crap" access or could you wait a day or two. Scottrade does 7 dollar trades, not sure what they want to send you money but that would be a good option. Pre-tax options are not good for access as you will pay taxes and high fees. Post-tax retirement accounts are not bad, small fee to pull your money and a couple of days wait. As long as you pick good investments and leave your money their long enough you will make enough to pay for any fees and still come out ahead.

Prices on precious metals were going down, have not checked lately. You wont get top dollar selling those if you need money fast.

Dont ingore the cash back offers on your cards. Pay your bills with the card and keep it paid off every month. No interest, no fees, free money.

If you want real advice spend a few bucks and talk to a financial adviser that is up to date on all that is out there.