We went to our bank yesterday and told them we have about $500k in savings to put somewhere, and would need to have it somewhere where it would not be affected by the $250K max in one bank rule for safety. We told them we are considering keeping the money somewhere safe, and they offered us a list of banks where they could put the money in CDs, and told that they would change a minimum of $3k per year to manage it for us, but we'd end up making 9k or so profit (I did the math with my calculator and came up with about the same numbers.)
On our way home we got to talking that we really don't like having to pay $3k every year - that really adds up. We are not wealthy people, and need to save and use every dollar carefully.
Does anyone have any ideas for us? We are not very knowledgeable in finances, so simple is better...
On our way home we got to talking that we really don't like having to pay $3k every year - that really adds up. We are not wealthy people, and need to save and use every dollar carefully.
Does anyone have any ideas for us? We are not very knowledgeable in finances, so simple is better...