JerseyGirl37
Confused about dryer sheets
I was about to suggest TIAA Direct as well but jon-nyc beat me to it. That is where we keep our cash reserves. I didn't realize they were not accepting new accounts though.
It appears some of you don't subscribe to keeping 1, 2 even 3 years of cash on hand once you retire. I only kept an emergency fund when I was working, now I've let cash grow to 2-3 years worth of
I think that is prudent. I only keep a little real cash -- although I expanded that to cover most of the current year's anticipated withdrawals this year. But I keep several years worth of withdrawals in the TSP G fund which is as safe as cash. If we get a big down turn I want to be able to rely on that to protect the equities.It appears some of you don't subscribe to keeping 1, 2 even 3 years of cash on hand once you retire. I only kept an emergency fund when I was working, now I've let cash grow to 2-3 years worth of annual expenses.
Capone? Bet it was tough to make a withdrawal...
Do you know whether it's possible to electronically transfer funds to the American Express savings account from a brokerage account or a mutual fund account - initiated from the brokerage/mutual fund account?
Fidelity says that bank "non-passbook savings accounts" are eligible for electronic fund transfers, so I'm wondering if the American Express Bank "high yield" savings account would fall in that category.
I transfer funds between my BOA checking account and my Fidelity accounts all the time. I always initiate it from Fidelity, so I've never paid a fee.
since this got posted I went looking to see what the current rates are for a place to store my emergency/contingency funds. Not much, hard to believe actually thinking 1% is a good deal!
CitBank @1% > $25K https://www.bankoncit.com/product-savings.htm
Barclays @1% https://www.banking.barclaysus.com/index.html
SallieMae bank @1.05% https://www.salliemae.com/banking/money-market/
Ally @ 0.95% Online Banking | CDs | Money Market | Savings and Checking | Ally
CaptialOne has dropped to 0.5% and is in some merger/takeover with ING
Schwab Checking @ 0.25%
Schwab MM @ 0.01%
Vanguard MM @ 0.01%
FWIW, (per your earlier comment), GM isn't the majority owner of Ally anymore (they own about 9% of Ally). The US government owns 70% of the company (for better or worse).So I'll be opening an online savings or MMA account very soon, I'm leaning toward Ally or ING.
I checked these out through Bauer Financial (bauerfinancial.com) or bank rate. At Bauer Financial:
Citibank 4 star Excellent
-- Rita
I checked these out through Bauer Financial (bauerfinancial.com) or bank rate. At Bauer Financial:
Citibank 4 star Excellent
Barclays 4 star Excellent
Sallie Mae 4 star Excellent
Ally 3-1/2 star Good
CapitalOne 3-1/2 star Good (acquiring ING)
Schwab 5 star Superior
ING 5 star Superior
-- Rita
Frankly, as long as you stay under the FDIC limits, who cares what the rating is?
Good point. While there may be differences in service, apps/access and/or fees, with only a handful of transactions each year, "ratings" are probably pretty meaningless for me. YMMVFrankly, as long as you stay under the FDIC limits, who cares what the rating is?