Best High Yield Savings?

chassis · 02-22-2024, 03:26 PM

SPAXX at Fidelity has no min balance no holding period. It’s a “checking account” type of instrument. Nothing not to like, everything good.

c1pher · 02-22-2024, 05:15 PM

I keep extra cash in Vanguard VMFXX which is earning over 5% (5.27%) right now and will continue to with rates where they are. I have my regular bank accounts linked to it so I can move money back and forth, which alleviates any concern about check writing.
https://investor.vanguard.com/invest.../profile/vmfxx

If you use Apple, their account even earns 4.35% now.

c1pher · 02-22-2024, 05:17 PM

Quote:

Originally Posted by Our03z4

Thanks everyone! It looks like even with the yearly fee it would pay the most going with the people we use, M1. I'm sure they won't like that there aren't any branches but we know how M1 operates, so that should help ease their minds.

Thanks again!

I was an early adopter with M1 but it was just too kludgy to use. Maybe it’s better now.

Our03z4 · 02-23-2024, 08:26 AM

Quote:

Originally Posted by c1pher

I was an early adopter with M1 but it was just too kludgy to use. Maybe it’s better now.

Been using it since the start and it's improved immensely. Their auto investing works well too.

Pauldunlop13 · 02-23-2024, 10:41 AM

I have Amex at 4.35%
I am also using the Goldman Sachs Saving acct though the Apple Card - 4.5%
no fees for either

ZHP to B58 · 02-29-2024, 07:04 PM

Commercial banker here. The highest rate that my bank's offered anyone, is the Fed funds rate minus 0.10%. So currently, they're earning over 5.00%. We're talking institutional-level though, so >$10MM.

Vio Bank is currently offering 5.30% for consumer money market. Also FDIC-insured.

Tellus is a RE-based app that offers daily compounding at 6.00%. But, not FDIC-insured albeit secured with RE.

orangetiger · 02-29-2024, 07:24 PM

I'd go with M1 since you and your wife already use them and are comfortable with how they operate. The higher rate should outweigh the small yearly fee for your in-laws. Easy to transfer money in and out too.

Caretto62 · 03-13-2024, 06:36 AM

Huntington Bank promotional Money Market Account paying over 5% last I knew.

nosbocaj · 03-13-2024, 07:45 AM

I've been using Wealthfront for years. It's at 5.00% right now.

02-22-2024, 03:26 PM	#23
chassis Colonel 6556 Rep 2,311 Posts Drives: 9Y0 Cayenne S Join Date: Mar 2019 Location: Einbahnstraße iTrader: (0) Garage List 2020 Porsche Cayenne S [7.69]	SPAXX at Fidelity has no min balance no holding period. It’s a “checking account” type of instrument. Nothing not to like, everything good.
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02-22-2024, 05:15 PM	#24
c1pher Primo Generalissimo 4672 Rep 4,023 Posts Drives: All of them Join Date: Jun 2009 Location: DC area iTrader: (0) Garage List 2017 Porsche 911 Ca ... [10.00] 2023 BMW M2 [9.00] 2023 Porsche Macan GTS [10.00] 2022 Ford F-250 Tremor [8.50]	I keep extra cash in Vanguard VMFXX which is earning over 5% (5.27%) right now and will continue to with rates where they are. I have my regular bank accounts linked to it so I can move money back and forth, which alleviates any concern about check writing. https://investor.vanguard.com/invest.../profile/vmfxx If you use Apple, their account even earns 4.35% now.
	Appreciate 3 chassis6555.50 Weather Man1124.00 Our03z41691.50 Quote

02-23-2024, 10:41 AM	#27
Pauldunlop13 Second Lieutenant 425 Rep 286 Posts Drives: M4 Convertible Join Date: Sep 2017 Location: Colorado iTrader: (1)	I have Amex at 4.35% I am also using the Goldman Sachs Saving acct though the Apple Card - 4.5% no fees for either __________________ 2019 YMB ZCP convertible with Dinan Exhaust 2011 Ducati Diavel Carbon Edition 2015 BSM M4 Convertible - 2018-2019 2016 228Xi - 2017-2018 2003 Acura RSX Type S 2003-2017
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02-29-2024, 07:04 PM	#28
ZHP to B58 Private First Class 73 Rep 140 Posts Drives: M240i Join Date: Aug 2018 Location: LA iTrader: (1)	Commercial banker here. The highest rate that my bank's offered anyone, is the Fed funds rate minus 0.10%. So currently, they're earning over 5.00%. We're talking institutional-level though, so >$10MM. Vio Bank is currently offering 5.30% for consumer money market. Also FDIC-insured. Tellus is a RE-based app that offers daily compounding at 6.00%. But, not FDIC-insured albeit secured with RE.
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02-29-2024, 07:24 PM	#29
orangetiger New Member 8 Rep 6 Posts Drives: Nissan Navara Join Date: Sep 2023 Location: Japan iTrader: (0)	I'd go with M1 since you and your wife already use them and are comfortable with how they operate. The higher rate should outweigh the small yearly fee for your in-laws. Easy to transfer money in and out too.
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03-13-2024, 06:36 AM	#30
Caretto62 New Member 2 Rep 7 Posts Drives: 2018 340ix MSport Join Date: Jun 2017 Location: Metro Detroit iTrader: (0) Garage List 2015 428i Coupe [0.00]	Huntington Bank promotional Money Market Account paying over 5% last I knew.
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03-13-2024, 07:45 AM	#31
nosbocaj Lieutenant 695 Rep 459 Posts Drives: 2023 M3 Competition xDrive Join Date: Aug 2017 Location: East Coast iTrader: (0) Garage List 2023 BMW M3 Competi ... [0.00]	I've been using Wealthfront for years. It's at 5.00% right now. __________________ Current: 2023 IOMG M3Cx Past: 2018 AW M2, 2010 AW M3 M2 LCI European Delivery
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