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Old 07-19-2021, 08:24 PM   #21
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I'm fortunate, as I have a guaranteed income fund, paying 3.25%. But my mom is going to get a huge check after selling her house, and is asking me where to put it. The best I could offer is just find one of the 0.5% FDIC accounts.
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Old 07-20-2021, 08:13 AM   #22
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While not the normal answer, I have pretty much given up on CDs, and cash accounts, even MMFs … still maintain a buffer, but …

Been buying ATT on dips for the past 18 months … 7% dividend and really stable share price.

I recognize the risks.
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Old 07-20-2021, 08:25 AM   #23
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CFG bank .60 percent
T-Mobile Money 1.00 percent

All FDIC insured.
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Old 07-20-2021, 11:14 AM   #24
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Originally Posted by qwertyguy123 View Post
Don't really know much about Vanguard money market funds, but I've got most of my extra cash in a Goldman Sachs Marcus Savings account. Super liquid, transfers to/from are within a business day, and it's paying 0.50%. Better than earnings peanuts in a checking account.
Same here.
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Most inexperienced retiree here
Old 07-20-2021, 11:46 AM   #25
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Most inexperienced retiree here

So take with grain of whatever. I always get sand and salt confused with that phrase.

1 year's expenses: Local bank - it hurts - .10% but all my bills and autopays are there. I like having a brick and mortar place.

1 year's expenses: Discover@.40%. Ally@.50%


1 year's expenses: GM Financial Right notes@1.5% - not FDIC

6 months expenses: Marcus 9 month CD @.65%
(I wish they'd named it Samantha ...would be hotter to say than Marcus but I guess that's a 1st world problem)
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Old 07-20-2021, 11:51 AM   #26
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Not a traditional, ready "cash parking" place but I looked at the long term price fluctuation and I'm willing to take some risk for the return. I do not have all my cash here--FRFZX
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Old 07-20-2021, 02:38 PM   #27
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My NFCU MM pays .45%. Thatís 15-45x better.
Although there may be cash accounts that pay marginally better than NFCU, I havenít seen anything thatís enough better to make it worth my time/effort to switch. And I trust NFCU - thatís worth something.
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Old 07-20-2021, 05:26 PM   #28
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I don't think everyone here uses the same definition of the word cash.
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Old 07-20-2021, 06:28 PM   #29
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The purpose of "cash", for most of us, is to not have to "sell low". That's a good enough definition for me.
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Old 07-20-2021, 06:55 PM   #30
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Although there may be cash accounts that pay marginally better than NFCU, I havenít seen anything thatís enough better to make it worth my time/effort to switch. And I trust NFCU - thatís worth something.


Switch from what? I agree itís not worth chasing .25% or less unless weíre taking a huge amount. I just think itís smart to use term ladders to get a little better return on funds not needed for the current year. These online savings rates could drop any day.
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Old 07-20-2021, 07:11 PM   #31
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In the checking/savings for .01%. Yeah, it's for spending.

Stocks for making dough, bonds for stability and cash to blow!
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Old 07-20-2021, 07:13 PM   #32
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I’ve kind of given up beyond high yield savings accounts. I do have a big stash in shorter term CDs not maturing until next spring. So until next spring I’m not even shopping.
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Old 07-20-2021, 07:42 PM   #33
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Switch from what? I agree it’s not worth chasing .25% or less unless we’re taking a huge amount. I just think it’s smart to use term ladders to get a little better return on funds not needed for the current year. These online savings rates could drop any day.
From NFCU’s MM account paying .45% for my cash* holdings. I was responding to your comment that you have a .45% NFCU MM account. I was agreeing with you. As I appear to with you about on-line savings rates.

* By “cash” I mean savings accounts, MM accounts, checking accounts, etc. Not bonds, CDs, MYGAs, I-Bonds, ST bond funds, etc.
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Old 07-20-2021, 08:34 PM   #34
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$500 a year per $100k just doesn't excite me enough to go through the trouble of rolling money over to a bank and creating another account. I'll let my equities do the heavy lifting. That's what they're there for. The cash is for not having to sell during a market downturn.
Late last year I did move some cash into a Baird short term bond fund just to "try something". That obviously hasn't gone anywhere.

I do have about 40% of my cash/equivalents in a guaranteed 3% fund inside my 401k which is the only reason I haven't rolled it into my IRA. I could roll money the other way from IRA to 401k, I guess, but in order to access it they actually make you fill out paper forms and fax or mail to get the withdrawal. Nope, no thanks.
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Old 07-20-2021, 08:56 PM   #35
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The Bank and in the Gunsafe

Interest rates are about the same....

Nice having Cash handy at home.....

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Old 07-20-2021, 10:04 PM   #36
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Me too, got 10 grand in the safe, 100 Benjamins. Doesn't take much room -
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Old 07-21-2021, 01:35 AM   #37
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Don't really know much about Vanguard money market funds, but I've got most of my extra cash in a Goldman Sachs Marcus Savings account. Super liquid, transfers to/from are within a business day, and it's paying 0.50%. Better than earnings peanuts in a checking account.
Well, that sounds pretty good these days. I'm keeping cash in a Vio savings account at 0.57%. We're all hoping for a bit of an upturn in interest rates soon, right?
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Old 07-22-2021, 06:39 AM   #38
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My Marcus savings is earning 0.8% due to bonuses from AARP and the referral deal that expire next month. Maybe I should repost and promote that referral link!
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Old 07-22-2021, 07:04 AM   #39
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We have about $740k in Flexible Retirement Annuities with USAA paying an average of 2.25%. Any new money added would pay the minimum 1%. Weíve had them long enough that theyíre basically a savings account now with no penalties of any kind, and no fees. Theyíre not FDIC insured, but USAA is a very strong company.
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Old 07-22-2021, 11:23 AM   #40
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Originally Posted by gamboolman View Post
The Bank and in the Gunsafe

Interest rates are about the same....

Nice having Cash handy at home.....

Until you get a home invasion.

Years ago, read about a couple, had (in today's dollars) about $300,000 in cash in safe at home. They were beaten nearly to death until the safe was opened.
They had not trusted banks, so it was the majority of their savings.

Very sad...
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