Where are you parking Cash?

[sengsational]

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.

[stephenson]

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.

[Montecfo]

CFG bank .60 percent
T-Mobile Money 1.00 percent

All FDIC insured.

[mistermike40]

Quote:

Originally Posted by qwertyguy123 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.

[MichealKnight]

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)

[ktdtx]

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

[friar1610]

Quote:

Originally Posted by jazz4cash My NFCU MM pays .45%. That’s 15-45x better.

Although there may be cash accounts that pay marginally better than NFCU, I haven’t seen anything that’s enough better to make it worth my time/effort to switch. And I trust NFCU - that’s worth something.

[jimbee]

I don't think everyone here uses the same definition of the word cash.

[sengsational]

The purpose of "cash", for most of us, is to not have to "sell low". That's a good enough definition for me.

[jazz4cash]

Quote:

Originally Posted by friar1610 Although there may be cash accounts that pay marginally better than NFCU, I haven’t seen anything that’s enough better to make it worth my time/effort to switch. And I trust NFCU - that’s worth something.

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.

[RobbieB]

In the checking/savings for .01%. Yeah, it's for spending.

Stocks for making dough, bonds for stability and cash to blow!

[audreyh1]

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.

[friar1610]

Quote:

Originally Posted by jazz4cash 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.

[Guamaniac]

$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.

[gamboolman]

The Bank and in the Gunsafe

Interest rates are about the same....

Nice having Cash handy at home.....

[RobbieB]

Me too, got 10 grand in the safe, 100 Benjamins. Doesn't take much room -

[Timeisprecious]

Quote:

Originally Posted by qwertyguy123 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?

[jazz4cash]

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!

[Dash man]

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%. We’ve had them long enough that they’re basically a savings account now with no penalties of any kind, and no fees. They’re not FDIC insured, but USAA is a very strong company.

[Sunset]

Quote:

Originally Posted by gamboolman 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...