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Banks are offering great returns (relatively) right now. If you have money just sitting in your Checking account, let it grow here.
If you are afraid interest rates may fall or that the stock market may go down, it might be a good time to lock down with a CD.
Don't forget FDIC insures up to $250,000
Savings Accounts ( Can Pull Out Money Anytime )
Certificate of Deposit CD - ( Money is locked in for a period )
If you don't mind keeping your money in the bank for a certain time, CD (Certificate of Deposit) would give you a slightly better rate and rates will not change for that time period.
Foreign Currency CDs
With the government printing a lot of money, fear of inflation is roaming around. You can put money in foreign currency CDs to protect yourself
If you are afraid interest rates may fall or that the stock market may go down, it might be a good time to lock down with a CD.
Don't forget FDIC insures up to $250,000
Savings Accounts ( Can Pull Out Money Anytime )
- UFB Direct - 5.25% APY ( no minimum )
- Popular Direct - 5.2% APY ( min of $100 )
- CFG Bank - 5.2% APY ( min of $1000 )
- Dollar Savings Direct - 5.0% APY ( No minimum )
- Bask Bank - 5.0% ( No minimum )
- CIT Bank - 4.65% ( min of $100 )
- SoFi Bank - 4.5% (Must setup direct deposit)
- Synchrony - 4.5% APY ( No minimum )
- Barclays - 4.35% APY ( No minimum )
- Discover - 4.3% APY ( No minimum )
- Bank of America - 0.04% ( don't consider )
Certificate of Deposit CD - ( Money is locked in for a period )
If you don't mind keeping your money in the bank for a certain time, CD (Certificate of Deposit) would give you a slightly better rate and rates will not change for that time period.
- 6 Months - TotalDirectBank - 5.56% ( min of $25k )
- 6 Months - Popular Direct - 5.35% ( min $10k )
- 6 Months - Merrick Bank - 5.35% ( min $25k )
- 9 Months - NASA FCU 5.55% ( min of $10k - need membership )
- 9 Months - Merrick Bank - 5.4% ( min $25k )
- 9 Months - Live Oak Bank CD - 5.1% ( min $2.5k )
- 1 Year - Connexus - 5.75% ( min $100k, $5 Membership )
- 1 Year - Popular Direct - 5.5% ( min $10k )
- 1 Year - Merrick Bank CD - 5.5% ( min of $25k )
- 1 Year - Vanguard Brokered CD - 5.35% ( min $1k )
- 1 Year - Fidelity Brokered CD - 5.35% ( min $1k )
- 1 Year - Live Oak Bank CD - 5.2% ( min $2.5k )
- 1.5 Years - Vanguard Brokered CD - 5.3% ( min $1k )
- 1.5 Years - Popular Direct - 5.3% ( min $10k )
- 1.5 Years - Merrick Bank CD - 5.25% ( min of $25k )
- 1.5 Years - Live Oak Bank CD - 2.0% ( min $2.5k )
- 2 Years - Merrick Bank CD - 5.15% ( min of $25k )
- 2 Years - Fidelity Brokered CD - 5.1% ( min $1k )
- 2 Years - Vanguard Brokered CD - 5.1% ( min $1k )
- 3 Years - USS FCU - 5.13% ( min $1k, $65 membership )
- 3 Years - Vanguard Brokered CD - 4.9% ( min $1k )
- 3 Years - Fidelity Brokered CD - 4.9% ( min $1k )
- 3 Years - iGoBanking - 4.75% ( min of $1k )
- 3 Years - Popular Direct - 4.75% ( min $10k )
- 3 Years - Merrick Bank CD - 4.5% ( min of $25k )
- 4 Years - iGoBanking - 4.75% ( min of $1k )
- 4 Years - Vanguard Brokered CD - 4.7% ( min $1k )
- 4 Years - Popular Direct - 4.3% ( min $10k )
- 4 Years - Merrick Bank CD - 4.3% ( min of $25k )
- 5 Years - Fidelity Brokered CD - 4.7% ( min $1k )
- 5 Years - Vanguard Brokered CD - 4.7% ( min $1k )
- 5 Years - Popular Direct - 4.6% ( min $10k )
- 5 Years - Merrick Bank CD - 4.2% ( min of $25k )
Foreign Currency CDs
With the government printing a lot of money, fear of inflation is roaming around. You can put money in foreign currency CDs to protect yourself
- TiaaBank Foreign CDs ( min $10000, protected by FDIC ). You can also buy ETFs for the currency you are interested in FXY FXA FXE etc
- Commodities (gold/silver) are also known to be safe havens. You can also buy ETFs like GLD SLV PSLV on your favorite trading platform
- CoinBase - Crypto Currencies were also known to be a hedge against inflation, but it's too volatile to be for you to have good sleep
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