Author Topic: Where do you keep your savings outside stocks/bonds?  (Read 1160 times)

HuskiesUnited

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Where do you keep your savings outside stocks/bonds?
« on: April 11, 2020, 06:20:40 AM »
I had been keeping a small portion of my overall portfolio (maybe 2-3%) in Vanguard Prime Money Market which had been earning as much as like 2.3% up until a couple months ago.  Purpose is if I need cash to pay for a new car, large house repair, etc outside my normal monthly expenses.  With the Fed cutting rates it is down to 0.92% and likely drop to near zero.  I previously had an online savings account with Discover (paid 0.95% when Prime Money Market was paying 0%) until rates began rising a couple years ago and Vanguard Prime Money Market began paying better.  Now Iím seeing Discover paying 1.5% and Goldman Sachs paying 1.7% and am thinking about moving savings to one of them. 

Not a huge amount, but if Prime Money Market goes to zero this may work out to like $170/yr per $10k deposited in interest vs next to zero.

What do you do with your savings outside stock/bonds?
« Last Edit: April 11, 2020, 06:23:18 AM by HuskieJoe »

BurtMacklin

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Re: Where do you keep your savings outside stocks/bonds?
« Reply #1 on: April 11, 2020, 07:33:38 AM »
I opened a savings account with Capital One last week. My credit union MM had dropped all they way to .7 and C1 is 1.5. It was very easy to open online.

alcon835

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Re: Where do you keep your savings outside stocks/bonds?
« Reply #2 on: April 11, 2020, 11:50:43 AM »
Standard Savings Account is fine. Right now I like CapitalOne's 360 Performance Savings for money I plan to just sit there (mostly my Emergency Fund/FU Money)