Jump to content
Sign in to follow this  
Nomad99

Financial Geeks

Recommended Posts

I have around $10k sitting in my savings making squat. Looking for an alternative to make more interest but cant afford any tanking. I know anything guaranteed will be limited but what's my best option?

Share this post


Link to post
Share on other sites

Depends on when you want access to your money. I have a money market account earning about 1.85% and a 1 year cd making 2.85% with capital 1. You can probably do a little better with other online banks, but I happen to like the capital 1 software.

Share this post


Link to post
Share on other sites

I have around $10k sitting in my savings making squat. Looking for an alternative to make more interest but cant afford any tanking. I know anything guaranteed will be limited but what's my best option?

 

 

It depends on where your savings and checking accounts are kept. That $10k could be helping you avoid fees in your checking account. It could be that you should move both of them to a credit union or something more online.

 

You want to make some money, but don't want risk. Those two together don't lend themselves to making a good return.

Share this post


Link to post
Share on other sites

I decided to go with a cd from a local credit union. 2.25 % for 15 months. Could have got up to 3% using an online bank but I prefer to have a local entity. I didn't want to tie up the money for too long plus I can "bump" up once during the term if rates go up & can continue to add  to it. Plus they had a savings account that pays .5%.

Share this post


Link to post
Share on other sites
On 2/4/2019 at 7:00 PM, Nomad99 said:

I have around $10k sitting in my savings making squat. Looking for an alternative to make more interest but cant afford any tanking. I know anything guaranteed will be limited but what's my best option?

Online savings can get you 2,25% and it's only going up. That's your best bet. A CD will get you a little more but will lick your cash up.

My advice go all in on weed options

Share this post


Link to post
Share on other sites
3 hours ago, Nomad99 said:

I decided to go with a cd from a local credit union. 2.25 % for 15 months. Could have got up to 3% using an online bank but I prefer to have a local entity. I didn't want to tie up the money for too long plus I can "bump" up once during the term if rates go up & can continue to add  to it. Plus they had a savings account that pays .5%.

Please name the 3% online bank

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×