I am curious what or where people are storing liquidable savings?
I have saved up about 100k after some portfolio changes and W2 income that i have put aside in hopes of purchasing another rental property, but the past 2 years just has been difficult to find anything that meets my requirements on returns in cashflow, so the money has just been sitting in my main bank account (Chase) increasing over time at a terrible 0.09% rate. I know i should have acted on this earlier, but most of the money is from a sale in the past 4 months, so i didnt really loose a lot in potential earnings...
I have read about Ally Bank with the 2.0%, but i noticed there are a few like CIT that are 2.25%, so i wanted to just get yalls opinion on where is the best place currently to park savings tell i can find a deal to act on, so the money has to be liquidable.......
My one friend at work told me he uses Capital One Savings account and gets 2.0%, but he is constantly moving his money around it seems, he is one of those people who cashs in on every open a bank account and each $$$ type of people, i swear he has like 10 different direct deposits going on for his W2 job.
Example: He told me his most recent offer he came across was with HSBC, it was a $450 after 90 days for signing up and direct deposit $5,000, to waive the $25 account fees he put 10,000 from his savings account into it to earn the no fee status, then he took the $5,000 and divided it out by 2.5 months and setup direct deposit his paycheck into the account to qualify for the cash reward. Then later on he will cancel out the account after removing his money and they will send him mail to sign back up eventually with a new cash offer. Just amazed how much mail he gets every day... He said he gets like 10 credit card/bank offers a week in junk mail.
Anyways, which is the best way of going about storing my liquidable assets, Im trying to combine yalls words with the advice my friend gave me which was Capital One.