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Economy

claudette

(3,684 posts)

3. Personally

Reply to KS Toronado (Original post)

Wed Apr 17, 2024, 11:21 AM

Apr 17

I prefer Treasury I-bonds for money that you know you won’t need for at least a year. (Because that’s how long you have to wait to cash it in). No taxes need to be paid on the interest until it’s cashed in and there is NO state tax due on the interest. In NY that means a lot to investors

CD’s that offer a high interest rate are good too but the high interest earned adds to your adjusted gross income which means more taxes due.

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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