Switching Banks

[Zee09]

Can you buy 3 month CDs?

5.25 to 5.35%

They are fine but I trade with my money too and I like that it's liquid... I can get it anytime or write checks off it. 3 month would be my style though if a CD..
Plus any stock earnings I get go straight into the account as I don't pull out earnings or interest.

 

[atikovi]

Yeah it's only 4.9% but it goes up with the fed and unlike other ripoff banks it's FDIC insured to $2.5 million

No idea you were livin large such that that aspect mattered.

 

[Pablo]

They are fine but I trade with my money too and I like that it's liquid... I can get it anytime or write checks off it. 3 month would be my style though if a CD..
Plus any stock earnings I get go straight into the account as I don't pull out earnings or interest.

Exactly what I do plus buy CDs - you can buy in $1000 increments

Fidelity even has has a municipal money market fund for taxable accounts

 

[Zee09]

No idea you were livin large such that that aspect mattered.

Now you know.

 

[Pablo]

No idea you were livin large such that that aspect mattered.

Pretty standard amount plus now for folks who wised up early. There is a reason we preach that to young savers

 

[atikovi]

I'm picturing Jed Clampett now.

 

[Zee09]

Exactly what I do plus buy CDs - you can buy in $1000 increments

Fidelity even has has a municipal money market fund for taxable accounts

I'm trying to cut back on my accounts these days and everything else.. Just too much brain overload. I now understand the young bucks on here as I hardly ever go to the bank anymore... nobody gives me cash or checks anymore.

When I sell my house next month I will just have the funds wired to the hood..
Nothing wrong with cds and years ago I would chase that extra interest but now I will settle for a bit less for convenience... Getting old I suspect

 

[dogememe]

It sounds like the best course of action would be to wait til my car is paid off and I’ve paid off my other debt. Then, once I begin accumulating savings, get an account with any of the options mentioned here that give back 4-5%. Because all the online banks seem to have limitations for daily usage (one has no cash deposit and one has no checks or something).