I have 100k in savings for a rainy day. I also have real estate, a couple 401k accounts and a pension.
This money is just sitting in my account earning nothing. I’ve looked at high yield savings but am wondering if a savings bond is a better bet since I can still cash out if needed but seem to get a better return. I read one even accounts for inflation, which is basically all I really care about.
Thoughts?
Never go negative wrote:
I have 100k in savings for a rainy day. I also have real estate, a couple 401k accounts and a pension.
This money is just sitting in my account earning nothing. I’ve looked at high yield savings but am wondering if a savings bond is a better bet since I can still cash out if needed but seem to get a better return. I read one even accounts for inflation, which is basically all I really care about.
Thoughts?
There is a believe that the large NYSE full service firms are too expensive. If one has over $250,000 as one walks into the door, the level of service and products far out ways the discount shops. There are price cuts too when one has over a 1/4 million at the large NYSE firms. Below $50,000, the discount shops are the best option most likely. At $100,000, a discount shop may or may not be better for you. A full service firm may or may not be better for you @ $100,000. If you live near an office at a large NYSE full service firm, walk-in and see how you're treated.
Invest in bitcoin.
Trolling aside, government bonds are the safest investment, and will at least guard your money against inflation. But hey, remember that the younger you are, the bigger the risks you can take. If you are 60ish, buy bonds and be done with it. If you are 25 (unlikely) get a good financial adviser and invest in the stock market.
I'm happy with my American Express personal savings account. The rate is 1.45%, FDIC insured.
Alternatively, if you have a brokerage account, you could buy 3-month tbills for 1.67% or 6-month tbills for 1.87%. You'll have excellent liquidity but a small risk of principal loss if interest rates rise.
Student of economics wrote:
There is a belief that the large NYSE full service firms are too expensive. If one has over $250,000 as one walks into the door, the level of service and products far out ways the discount shops. There are price cuts too when one has over a 1/4 million at the large NYSE firms. Below $50,000, the discount shops are the best option most likely. At $100,000, a discount shop may or may not be better for you. A full service firm may or may not be better for you @ $100,000. If you live near an office at a large NYSE full service firm, walk-in and see how you're treated.
correction
Thanks for the input. I’ve looked at the Amex high yield savings as well.
I’m much closer to 60 than 25. Not wealthy by any means but am starting to transition to a more conservative position as retirement is not too far away.
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