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Economy

KS Toronado

(17,510 posts) Wed Apr 17, 2024, 11:12 AM Apr 17

7

Need to do something with my bank savings account [View all]

since it draws very little money. Buddy has been telling me money markets are the way to go, he claims around
$300 profit every month from a $90,000 investment. Lady at my bank says no, CDs are the only way to go.
Asked how US Savings Bonds interest rate compare to their CDs and got more beating around the bush, she
was determined to get me into CDs like she was getting a commission, I walked out.

So where's the best place to put some presently unneeded money, money markets, CDs, or US Savings Bonds?
The bank's savings acct sure doesn't pay shit. Thanks in advance for useful information.

14 replies

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Need to do something with my bank savings account [View all] KS Toronado Apr 17 OP

Credit Union OLDMDDEM Apr 17 #1

Treasury Bonds are earning 5%+ right now. n/t CousinIT Apr 17 #2

Personally claudette Apr 17 #3

High-yield savings account? AZSkiffyGeek Apr 17 #4

I have CDs for what it's worth, but I'm no wiz Easterncedar Apr 17 #5

Credit unions often have better interest rates. Ocelot II Apr 17 #6

Treasury bills! Open an account with TreasuryDirect. They ARE the government. Wonder Why Apr 17 #7

I'm considering looking into this - the shorter-term ones. CousinIT Apr 17 #14

I picked up a 1 year CD last fall that was paying a little over 5% LonePirate Apr 17 #8

Our Credit Union has the same great rates. Hope22 Apr 17 #10

If you have $90k in savings, it shouldn't be there Fiendish Thingy Apr 17 #9

If op is willing to consider stocks, and can accept volatility, spooky3 Apr 17 #11

Last I looked my Vanguard MM was paying doc03 Apr 17 #12

I'll just say that savings bonds can be a pain to cash. jimfields33 Apr 17 #13

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