Where Do You Park Your Cash These Days?

[Chuckanut]

Dominion Energy Reliability Investment Notes (1.1%)

Yet, 0.1% less interest but full FDIC insurance at T-Mobile Money.

Something to consider.

 

[pb4uski]

Yet, 0.1% less interest but full FDIC insurance at T-Mobile Money.

Something to consider.

Fair point. DERI does pay 1.25% on balances over $50k.

 

[Montecfo]

Junk bonds? Why would you park cash there? High risk.

As I said, it is unique fund. It is not high risk. Read the prospectus, look at the operating history and investnent process.

And of course, I am trying to convince you of anything.

 

[F.I.R.E User]

VIO bank.

 

[Montecfo]

^^^^
That is, I am NOT trying to convince anyone of anything.



Correcting typo two posts above.

 

[F.I.R.E User]

^^^^
That is, I am NOT trying to convince anyone of anything.

You like VIO bank?

 

[Montecfo]

You like VIO bank?

Naw. Referred to my typo a couple of posts above.

 

[BlueberryPie]

Vio Bank and Marcus are two decent options for high yield savings account. Around 0.5% depending on the day. that's where I hold cash I'm going to need this year (kid in college) or that I'm waiting to buy more i-Bonds with

 

[calmloki]

Vio Bank and Marcus are two decent options for high yield savings account. Around 0.5% depending on the day. that's where I hold cash I'm going to need this year (kid in college) or that I'm waiting to buy more i-Bonds with

and - woohoo - Marcus had/has a .6% rate for AARP members.

 

[Koolau]

I keep cash in 3 checking accounts. The bulk of my cash-like investments are in a GIF within my old 401(k). The current "interest" rate is much better than most banks. It's all taxable when I do take any out, so there's that. YMMV

 

[Markola]

MY BTC returned about 400% over the past year, but I sold my original “speculation” and am letting the rest ride…Not an “investment” by any means.

Congrats! However, your comment is going to earn you a full-page, jargon-filled, yet entirely vague response from a frothing crypto evangelist, who will ultimately retreat to the unconvincing logic that you are simply too old to understand the new world.

 

[MJ]

This past July, I parked a chunk of money in Citibank for 3 1/2 months earning a bonus of $700 each for 2 different accounts. I though, my money would be stuck there for another 2 months but got my bonus last week. Earlier this year, that same money earned me another better bonus of $800 x 2 accounts. The rest of the time, it earns still a "whopping LOL" .5% at Ally.

 

[SunnyOne]

I've learned what stable coins are (crypto with their value pegged to USD - or other fiat) and tried lending platforms: Celsius, BlockFi and Nexo. It's been working perfectly fine so I split my cash into 3 piles and am happy to be collecting 8-10% paid either daily, weekly or monthly.

Where can I learn about these?

 

[xlf11]

HMBradley just changed the rate and added more hoops to jump starting on 2/1/22. Here is the details: https://www.doctorofcredit.com/new-...s-rate-when-you-save-your-paycheck-hmbradley/

 

[turbo89]

I've learned what stable coins are (crypto with their value pegged to USD - or other fiat) and tried lending platforms: Celsius, BlockFi and Nexo. It's been working perfectly fine so I split my cash into 3 piles and am happy to be collecting 8-10% paid either daily, weekly or monthly.

Where can I learn about these?

I’ve been dabbling with USDT / USDC stable coins through crypto.com (download the app). They make it very easy to stake stable coins and get paid weekly.

If you google “USDT” or “USDC” you can find the projects / associated websites and white papers. The crypto thread has some more recommendations on investing in crypto / resources, I recommend reading through that.

 

[target2019]

USDT - please read https://www.ft.com/content/b209bbcb-537f-42dd-8d36-78cb9852fb65

More broadly, crypto trading itself is still unregulated and lacks the scope of investor-protection measures that come with traditional*asset classes. And the debate over what the inherent value of crypto assets actually is still rages.

Tether falls outside the scope of what most on this forum are talking about in the thread. Parking cash means it is insured and you can get your hands on it in a day or so.

 

[mrfeh]

USDT - please read https://www.ft.com/content/b209bbcb-537f-42dd-8d36-78cb9852fb65



Tether falls outside the scope of what most on this forum are talking about in the thread. Parking cash means it is insured and you can get your hands on it in a day or so.

+1

I've looked into staking, and while the interest rates are attractive, there are associated risks I'm not willing to take.

I would need to invest at least 6 figures for this activity to make a noticeable contribution to the portfolio, and I'm not willing to do that.

 

[target2019]

+1

I've looked into staking, and while the interest rates are attractive, there are associated risks I'm not willing to take.

I would need to invest at least 6 figures for this activity to make a noticeable contribution to the portfolio, and I'm not willing to do that.

For many of the "parking cash" challenge solutions I'm reluctant to add more accounts to what we have. I guess it depends on one's stage of life.

 

[mrfeh]

For many of the "parking cash" challenge solutions I'm reluctant to add more accounts to what we have. I guess it depends on one's stage of life.

I don't mind creating accounts, but dealing with crypto in an effort to chase yield takes things to another level.

 

[MichaelB]

<mod note> Let’s please keep this thread crypto free. Any thoughts on crypto assets can be posted in this thread https://www.early-retirement.org/forums/f44/the-cryptocurrency-thread-111531.html

 

[Bryan Barnfellow]

Here in CH, the SNB's (Swiss National Bank) policy rate is -0.75%; therefore my local bank charges me 0.75% on deposits above a certain threshold. So, our Swiss Franc cash here either pays no interest or attracts a negative interest rate. Truly frustrating.

-BB

 

[pb4uski]

^^^ If you're overdrawn is your return +0.75%?

 

[Bryan Barnfellow]

^^^ If you're overdrawn is your return +0.75%?

It never crossed my mind! So, you've given me my first good idea for 2022. Thanks.

-BB

 

[braumeister]

Here in CH, the SNB's (Swiss National Bank) policy rate is -0.75%; therefore my local bank charges me 0.75% on deposits above a certain threshold. So, our Swiss Franc cash here either pays no interest or attracts a negative interest rate. Truly frustrating.

Over 40 years ago a friend of mine had one of those famous numbered Swiss bank accounts. He did it simply because it was a cool thing to do, although it had a negative 1% interest rate. Seemed crazy to me at the time although you have to hand it to the Swiss for being able to maintain a stable currency.

 

[Bryan Barnfellow]

Over 40 years ago a friend of mine had one of those famous numbered Swiss bank accounts. He did it simply because it was a cool thing to do, although it had a negative 1% interest rate. Seemed crazy to me at the time although you have to hand it to the Swiss for being able to maintain a stable currency.

Those accounts are out of my league; although I live in the third largest banking center in the country and see these very private banks all over town. I am always curious to walk in and look around.

As an American I could only get an account at the postal bank, which by charter must accept all legal customers, and UBS, which has a walled off (figuratively) area for Americans. All the other banks dumped their American customers and won't open accounts for Americans. Thanks to the US FATCA initiative. In some cases long held mortgages were called in rather immediately. A disaster for normal people who are just trying to live a normal life here. That said, the postal bank (PostFinance) has every service you might expect, even mortgages. But who can afford to buy anything here!


-BB