Idle cash - check your interest rates

3,068 Views | 9 Replies | Last: 2 yr ago by Yordaddy
chris1515
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3:30p, 5/26/23
AG
Just an FYI, and hopefully everyone is already on top of this…

If you have any idle cash sitting around, check and see what it's earning. If you're not getting 4%+ take a few minutes and shop around.

I've been a little more aggressive sweeping out my checking account (0% at BofA).

Cash at Interactive Brokers is drawing 4%+

Fidelity is easy to buy some CDs.

I'm sure there are a lot of other good options out there also.
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Stringfellow Hawke
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4:42p, 5/26/23
AG
https://investor.vanguard.com/investment-products/money-markets#mm-rates

What is the advantage of a CD versus money market account?
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Troglodyte
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4:42p, 5/26/23
AG
Same. My Chase "savings" account pays .01%. I've been sweeping to Fidelity MM and Goldman MM. They earn 4.75-5%.
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chris1515
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In reply to Stringfellow Hawke • 6:14p, 5/26/23
AG
The CD locks in that rate for a period. The MM will float. That could be good or bad.
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Aggie09Derek
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10:37p, 5/26/23
AG
5.15% right now on Marcus by Goldman Sachs for 3 months when using a referral (4.15 normal) and it you refer anyone if adds 3 more months (up to like 1.5 years).

Referral link:

https://www.marcus.com/share/CAI-ZIZ-7M53
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oklaunion
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7:01a, 5/27/23
Prosperity has a 22 month CD with the ability to bump it up to a higher rate if it occurs during that time. Once.
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Mas89
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In reply to oklaunion • 7:04a, 5/27/23
AG
Prosperity also had a 5 percent cd for 7 months this week.
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Red Pear Realty
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8:04a, 5/28/23
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AG
This was posted and didn't get much attention. Peter Thiel project. Sounds pretty cool to me, and not as gimmicky as requiring a referral to keep the best rate.

https://texags.com/forums/57/topics/3379911
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
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YouBet
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In reply to Red Pear Realty • 12:56p, 5/29/23
AG
Red Pear Realty said:
This was posted and didn't get much attention. Peter Thiel project. Sounds pretty cool to me, and not as gimmicky as requiring a referral to keep the best rate.

https://texags.com/forums/57/topics/3379911
I wrote it off as spam by OP but will take a look.
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Yordaddy
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10:14a, 5/31/23
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Bought a 3,6,9,12 month CD ladder through Fidelity yesterday at a 5.30% interest rate.
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