Author Topic: Safest place to park 90k  (Read 2412 times)

esant

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Safest place to park 90k
« on: March 12, 2018, 08:47:07 AM »
I recently sold a property and need to put the money somewhere that I would have easy access if I need it to purchase another within a few months.  I've been researching different high interest savings accounts so I am thinking this would be my best option. I can't risk losing the money and I wont necessarily be holding onto it long enough to invest anywhere that I may have ups and downs. As a result, I was thinking I would open an account at either CIT or Ally and just transfer the money there to sit.   Does anyone have any other suggestions that I should look into?  Or does anyone recommend a different financial institution? 

Thanks everyone!

RWD

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Re: Safest place to park 90k
« Reply #1 on: March 12, 2018, 08:57:30 AM »
I'm happy with my Ally account.

appleshampooid

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Re: Safest place to park 90k
« Reply #2 on: March 12, 2018, 09:28:44 AM »
Barclays is technically higher yield right now (1.5% vs. Ally's 1.45%). Folks here have had good experiences with Ally but I will toss in that I have had good experiences with Barclays as well.

CorpRaider

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Re: Safest place to park 90k
« Reply #3 on: March 12, 2018, 09:29:08 AM »
I've noticed that Marcus, the consumer bank from Goldman, has some competitive savings rates as well.

NoStacheOhio

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Re: Safest place to park 90k
« Reply #4 on: March 12, 2018, 09:37:11 AM »
If you know when you'll need the money, consider using a CD. I had some cash a while back with a specific date where I needed it, and used my taxable Fidelity account to buy a CD. They basically broker it for you, and you can filter through thousands of different options to meet your needs. Just make sure you choose one that's FDIC insured.

moustache79

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Re: Safest place to park 90k
« Reply #5 on: March 12, 2018, 02:22:09 PM »
CIT is pretty solid for savings accounts.  I have used Ally, Capital one, Discover and Barclays as well.  CIT has best rate currently among this group (1.55%) for savings.  you can also do a 11mo no penalty CD for 1.85% that will suit your needs

zazpowered

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Re: Safest place to park 90k
« Reply #6 on: March 12, 2018, 04:10:56 PM »
I've been using PurePoint (https://purepoint.com) for almost a year now and would recommend it. 1.6% savings rate with 10k min

Radagast

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Re: Safest place to park 90k
« Reply #7 on: March 12, 2018, 09:54:09 PM »
Look through these for one that looks trustworthy and convenient.
https://www.doctorofcredit.com/high-interest-savings-to-get/

Indexer

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Re: Safest place to park 90k
« Reply #8 on: March 14, 2018, 07:07:37 PM »
Vanguard's Prime Money Market is almost 1.6%.