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So, I recently had several CDs I had purchased two years ago mature that were paying 3.1% and am at a loss on where to put the money.
It’s enough money to purchase a home outright, which I may do *if*I can find one (tough market here). I’m interested in preserving the principle and having the money liquid in the event I buy a home.
I know the savings options right now aren’t good, but surely, some options are still better than others. I have accounts with Ed Jones and Charles Schwab but would like your suggestions before I talk with them.
There are FDIC online savings accounts that are around 0.5% or 0.6% interest.... betting than nothing.
I swear they keep dropping by the week though. Pretty soon even Ally will probably pay half what it does now. OP, if I were you, I'd probably look at a 6 month or even 1 year CD. No, rates are not great, but it's about the same as some savings/checking account right now but at least you can lock that rate in.
I swear they keep dropping by the week though. Pretty soon even Ally will probably pay half what it does now. OP, if I were you, I'd probably look at a 6 month or even 1 year CD. No, rates are not great, but it's about the same as some savings/checking account right now but at least you can lock that rate in.
They really are dropping it fast! That's true too.
A lot of those are teaser rates to get you to deposit your funds, then they slowly drop as most people aren't paying attention.
I've been using them for awhile, Ally, Marcus, etc... there was a period of time where they were constantly increasing my rate too.
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what's the point?
