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SVTPerformance's Chain of Restaurants
Road Side Pub
High interest online savings account recommendations
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<blockquote data-quote="Detroit Iron" data-source="post: 16892053" data-attributes="member: 137666"><p>We've had almost 20 years of little or no interest on your money, a lot people just don't realize they are missing out on half way decent returns. The example of 50K sitting in a checking account is over $200/month on a 5% return. </p><p></p><p>Some of the high yield money market accounts (Schwab SWVXX and Fidelity SPRXX) are NOT FDIC insured. I doubt it will ever come to it, but something to consider.</p><p></p><p>I actually bought some short term CDs last week (1 month and 3 month maturity) through Schwab and Fidelity. The returns were over 5% and are FDIC insured. I think we'll have high rates for the next year or two. I plan to keep doing this, it's a tradeoff between high rates and being liquid if a really good buying opportunity shows up...I think we'll have one in the stock market later this year.</p></blockquote><p></p>
[QUOTE="Detroit Iron, post: 16892053, member: 137666"] We've had almost 20 years of little or no interest on your money, a lot people just don't realize they are missing out on half way decent returns. The example of 50K sitting in a checking account is over $200/month on a 5% return. Some of the high yield money market accounts (Schwab SWVXX and Fidelity SPRXX) are NOT FDIC insured. I doubt it will ever come to it, but something to consider. I actually bought some short term CDs last week (1 month and 3 month maturity) through Schwab and Fidelity. The returns were over 5% and are FDIC insured. I think we'll have high rates for the next year or two. I plan to keep doing this, it's a tradeoff between high rates and being liquid if a really good buying opportunity shows up...I think we'll have one in the stock market later this year. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
High interest online savings account recommendations
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