Max [maxmyinterest.com]

[eufo]

Seems solid... I would always secretly question if they were doing it right and do the research anyway.

[ochotona]

Thanks for the motivation. I just opened an account at marcus.com (Goldman Sachs' online consumer bank). 1.50% on the savings accounts. I'm with Ally now, get 1.25%. But I'm keeping my checking and some savings at Ally. Too much of a pain to uproot everything.

Marcus and Ally both have A+ bank safety ratings at BankRate.com. Not all online banks do. I want that A+.

[ochotona]

The Marcus user interface is very spare. No online app. I don't think it's that good for a primary consumer checking / savings account. But it's fine as a high interest money bucket. I think that's all they intended it to be, a money magnet.

[Xan]

The Marcus user interface is very spare. No online app. I don't think it's that good for a primary consumer checking / savings account. But it's fine as a high interest money bucket. I think that's all they intended it to be, a money magnet.

99% of the time, anything that can be done in a phone app is better done as a web site. Anybody who wants you to install an app in order to deliver a service that could be done over the web is trying to spy on you or otherwise take advantage.

[ochotona]

The Marcus user interface is very spare. No online app. I don't think it's that good for a primary consumer checking / savings account. But it's fine as a high interest money bucket. I think that's all they intended it to be, a money magnet.

99% of the time, anything that can be done in a phone app is better done as a web site. Anybody who wants you to install an app in order to deliver a service that could be done over the web is trying to spy on you or otherwise take advantage.

So nice of Goldman to not want to take advantage of us!

[whatchamacallit]

Savings accounts need to catch up.

Best return and convenience right now really is the 1 year treasury @ 1.8%. Especially if you have to pay state income tax.

1 year cds might get you 2% with too much hassle.

[ochotona]

Savings accounts need to catch up.

Best return and convenience right now really is the 1 year treasury @ 1.8%. Especially if you have to pay state income tax.

1 year cds might get you 2% with too much hassle.

What I really need to do is push this cash into my Roth IRA, totally max out my Roth 401k, trade my IRA gold ETFs for gold bars, and get rid of the excessive taxable bank cash. I'll do it when my littlest is out of college and my industry (oil) stops going into fibrillation every couple quarters. Anyone got a some spare Xanax?

[ochotona]

When I moved a big block of cash from Ally to Marcus, the interest rate difference was 0.25%. Now it's only 0.05%. Ally woke up and noticed, a little bit late. They probably bled out millions of dollars.

[ochotona]

Some user feedback postings at depositaccounts.com reminded me that Marcus uses your email address as your username, which isn't good. I then made a ridiculously secure password with 256 characters, saved it to an encrypted file, and will use it only for Marcus. Not convenient, but I don't look at Marcus but once a month to get my statement.

[ochotona]

Marcus online savings is now paying 1.60%

[eufo]

I recently moved a decent chunk of my cash into CIT Bank. Their Money Market account is paying 1.75%.

http://www.bankoncit.com

[Xan]

Marcus is now up to 1.7%.

[whatchamacallit]

https://www.depositaccounts.com/savings/

Northpointe bank is at 2.05% but I don't trust them to hold their rates.

[boglerdude]

Insight 5%s are going away
https://www.reddit.com/r/churning/comme ... 5_savings/

[whatchamacallit]

https://personal.vanguard.com/us/funds/ ... irect=true
Would federal money market @ 1.68% be state tax free?

[sophie]

Especially after you take the tax benefits into account, 3 month T bills are handily beating all money markets and savings accounts right now (possible exception noted above by MangoMan). 6 month/1 year T bills are beating CDs of much longer durations.

It was never so easy to stick with PP orthodoxy! And, what's up with the banks? Do they not realize how easy it is now to buy T bills with autoroll, or have people just not discovered that yet?

[barrett]

Especially after you take the tax benefits into account, 3 month T bills are handily beating all money markets and savings accounts right now (possible exception noted above by MangoMan). 6 month/1 year T bills are beating CDs of much longer durations.

It was never so easy to stick with PP orthodoxy! And, what's up with the banks? Do they not realize how easy it is now to buy T bills with autoroll, or have people just not discovered that yet?

Just guessing that banks can't really raise interest rates on savings accounts much because they make much of their money on the spread between short and long rates. If they lend out at prevailing mortgage rates and pay, say, what one-year T-Bills are earning, there's not a lot of meat left on the bone.

This flattening yield curve is bad news for them.

I'm with you, Sophie. For the foreseeable future much of my cash is in T-Bills.

[ochotona]

Marcus is 1.80% today, Ally is 1.65%.

[dualstow]

Another option is Vanguard Treasury MM, VUSXX, currently yielding 1.81 percent. $50K minimum, unfortunately. I don't believe they'll kick you out of your balance drops though.

That’s correct. I’ve had under 10K in there for years. Now that it’s paying dollars and not cents, I’m going to put proceeds from matured tbills in there.

[eufo]

CIT Bank Money Market has upped to 1.85%. Cash is feeling comfy.

[Kbg]

CIT Bank Money Market has upped to 1.85%. Cash is feeling comfy.

It shouldn't be feeling comfortable at all...you are losing .95% real as inflation is running about 2.8% now.

[eufo]

CIT Bank Money Market has upped to 1.85%. Cash is feeling comfy.

It shouldn't be feeling comfortable at all...you are losing .95% real as inflation is running about 2.8% now.

But yet it does.

[dualstow]

Ha. Well, as Kevin M said over at Bogleheads, that 2.8% figure is just a 12-month snapshot.

[Kbg]

CIT Bank Money Market has upped to 1.85%. Cash is feeling comfy.

It shouldn't be feeling comfortable at all...you are losing .95% real as inflation is running about 2.8% now.

But yet it does.

Captain, illogical. :-)

[eufo]

It shouldn't be feeling comfortable at all...you are losing .95% real as inflation is running about 2.8% now.

But yet it does.

Captain, illogical. :-)

Feelings are always illogical, but as long as I stick to a logical plan, all is good.