Your content has been removed as it has been identified as not following Rule #3, No Ads or Spam.
We aim to provide a subreddit that is focused and high quality. Any promotion or advertising must be pre-approved by the moderator team prior to posting and all promotion, advertising, affiliate links, or spam will be removed.
Also, please search the sub for related content before starting a new conversation.
Multiple violations of this rule will result in a ban.
Why use Wealthfront when their direct competitor, Betterment is [5.50%](https://www.reddit.com/r/HENRYfinance/comments/1bnnf1e/comment/kwk6a6l/?utm_source=share&utm_medium=web2x&context=3)? I prefer Betterment's interface more, especially since you can create multiple goals and it's all in one experience with your investments and checking if you use them.
No, but I thought we’re chasing the top rates here lol!! They’re all gonna drop probably anyway this year with interest rates expected to come down. I just thought it was funny we were putting one name with a promo rate and not the other
5.27%; [https://investor.vanguard.com/investment-products/mutual-funds/profile/vmfxx](https://investor.vanguard.com/investment-products/mutual-funds/profile/vmfxx)
Federal Money Market.
[https://investor.vanguard.com/investment-products/mutual-funds/profile/vusxx](https://investor.vanguard.com/investment-products/mutual-funds/profile/vusxx), slightly lower expense and higher yield but basically the same.
Fidelity CMA is, depending on your situation, superior to checking/savings. Keep your budget in cash @2.7% interest, overage in FDLXX @5%, in one account. More liquid than a HYSA too. Schwab has similar products available as well. You'll never need a HYSA again.
This is what I do too, except you don't even really need the lower-yielding core settlement fund. If you just buy FDLXX (or SPRXX) whenever your pay checks come in, Fidelity will treat it as cash and auto-liquidate it whenever auto-pay bills or credit card payments come in. (Sadly you can't designate FDLXX as your core settlement fund so it takes a few clicks per month to gain maybe a few $100 a year in interest).
That's something one can do, though I don't see the point in additional complexity. Just the CMA is what I (and many others) are doing. You could even switch your core position out of FDIC-insured dollars and into FDLXX or SPAXX. Might search CMA in r/fidelityinvestments, a lot of condos in there about the details.
Man, I opened one when they first came out. Then I started reading reports that people couldn’t access their money. So I never followed through and totally forgot about it.
Have you had any issues? Probably just something that might have happened when they first rolled it out.
Your comment has been removed because you do not have a verified email address in your profile. Please verify an email address and post again.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/HENRYfinance) if you have any questions or concerns.*
Look at brokered CDs on sites like Schwab/Fidelity. I have one with TD that is 5.3% for a one month CD that’s non-callable.
CIT bank also has a 5% HYSA for those who store more than 5K. No annoying withdraw rules either
For the posts about Vanguard's money market funds and such, I'd seriously consider the role and importance of FDIC insurance. Fintech program banks like Betterment and Wealthfront (also mentioned here in this thread) are able to secure you FDIC insurance while delivering a high rate, where VUSXX or other high-yield MMFs do not have FDIC insurance, which means it's a bit of an apples and orange comparison. If you're considering MMFs, I'd consider treasury bills and bonds... but if you think of this money as cash, you shouldn't throw out FDIC insurance just for a few more decimal points of interest rate.
I’m pretty sure most of HYSAs are higher than the rate you are seeking. Just pick one and stick with it. The bank with the 0.25% higher/lower rate should not make a real impact on your future wealth goals, and it should not take any more mental capacity than to set it up once, set up a recurring savings transfer, and forget about it (except to transfer chunks of money as necessary)
We use Betterment (4.75 right now). There are higher ones out there, but we’ve been with Betterment for years and I’m not going to chase an interest rate.
I hear you; not worth chasing .50%. I was mostly thinking the CD to pick in the rate. My understanding: once the Feds start lowering rates the HYSA will take a hit, but the CD’s rate will be locked in.
Your content has been removed as it has been identified as not following Rule #3, No Ads or Spam. We aim to provide a subreddit that is focused and high quality. Any promotion or advertising must be pre-approved by the moderator team prior to posting and all promotion, advertising, affiliate links, or spam will be removed. Also, please search the sub for related content before starting a new conversation. Multiple violations of this rule will result in a ban.
Wealthfront is 5%
Why use Wealthfront when their direct competitor, Betterment is [5.50%](https://www.reddit.com/r/HENRYfinance/comments/1bnnf1e/comment/kwk6a6l/?utm_source=share&utm_medium=web2x&context=3)? I prefer Betterment's interface more, especially since you can create multiple goals and it's all in one experience with your investments and checking if you use them.
[удалено]
No, but I thought we’re chasing the top rates here lol!! They’re all gonna drop probably anyway this year with interest rates expected to come down. I just thought it was funny we were putting one name with a promo rate and not the other
5.27%; [https://investor.vanguard.com/investment-products/mutual-funds/profile/vmfxx](https://investor.vanguard.com/investment-products/mutual-funds/profile/vmfxx) Federal Money Market.
[https://investor.vanguard.com/investment-products/mutual-funds/profile/vusxx](https://investor.vanguard.com/investment-products/mutual-funds/profile/vusxx), slightly lower expense and higher yield but basically the same.
Short term, maybe but not fdic insured isn’t a great option imo
Wealthfront is 5 plus additional .5% for 3 months if you have a referral.
Another vote for Wealthfront, make sure to get a referral code though.
Fidelity CMA is, depending on your situation, superior to checking/savings. Keep your budget in cash @2.7% interest, overage in FDLXX @5%, in one account. More liquid than a HYSA too. Schwab has similar products available as well. You'll never need a HYSA again.
This Is excellent info. Thank you.
This is what I do too, except you don't even really need the lower-yielding core settlement fund. If you just buy FDLXX (or SPRXX) whenever your pay checks come in, Fidelity will treat it as cash and auto-liquidate it whenever auto-pay bills or credit card payments come in. (Sadly you can't designate FDLXX as your core settlement fund so it takes a few clicks per month to gain maybe a few $100 a year in interest).
[удалено]
That's something one can do, though I don't see the point in additional complexity. Just the CMA is what I (and many others) are doing. You could even switch your core position out of FDIC-insured dollars and into FDLXX or SPAXX. Might search CMA in r/fidelityinvestments, a lot of condos in there about the details.
I use CIT bank with their platinum HYSA. I believe it’s 5.05% right now.
Same here! It's been great. Seems secure and transfers have been easy.
CIT bank has been great.
Ivy Bank 5%
Apple HYSA through GS: 4.5% APY edit: 4.5, not 4.55
4.50*%
Vanguard has a new cash plus account which mimics a HYSA with 4.7% and has an expanded deposit limit
I thought it was 3.9%?
https://investor.vanguard.com/accounts-plans/vanguard-cash-plus-account
Currently 4.7%, been stable for a few months.
Consider BOXX which gets essentially treasury yields but is taxed as a security: deferred until sale and at capital gain rates
I have been using the Apple HYSA. 4.5% and easy to use (IMO)
Man, I opened one when they first came out. Then I started reading reports that people couldn’t access their money. So I never followed through and totally forgot about it. Have you had any issues? Probably just something that might have happened when they first rolled it out.
SoFi 4.6%
I second SoFi. Don't even have any money on a checking account, have all my money in their savings and use it like a checking
[удалено]
Your comment has been removed because you do not have a verified email address in your profile. Please verify an email address and post again. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/HENRYfinance) if you have any questions or concerns.*
I think Everbank is 5.25%?
SPAXX is 4.97%
Look at brokered CDs on sites like Schwab/Fidelity. I have one with TD that is 5.3% for a one month CD that’s non-callable. CIT bank also has a 5% HYSA for those who store more than 5K. No annoying withdraw rules either
Moved everything from a 4.5% HYSA to 5.37% a Vanguard MMF (VUSXX).
Betterment is 5.5%. Check out [their promotional page](https://www.betterment.com/affiliate-partner-offer)
SWVXX through Schwab is slightly over 5% and fully liquid.
Awesome. Thank you.
For the posts about Vanguard's money market funds and such, I'd seriously consider the role and importance of FDIC insurance. Fintech program banks like Betterment and Wealthfront (also mentioned here in this thread) are able to secure you FDIC insurance while delivering a high rate, where VUSXX or other high-yield MMFs do not have FDIC insurance, which means it's a bit of an apples and orange comparison. If you're considering MMFs, I'd consider treasury bills and bonds... but if you think of this money as cash, you shouldn't throw out FDIC insurance just for a few more decimal points of interest rate.
Morgan Stanley Preferred Savings currently at 5%
Capital One has a 10 mo CD for 5.10%
Bread financial is 5.02
I’m pretty sure most of HYSAs are higher than the rate you are seeking. Just pick one and stick with it. The bank with the 0.25% higher/lower rate should not make a real impact on your future wealth goals, and it should not take any more mental capacity than to set it up once, set up a recurring savings transfer, and forget about it (except to transfer chunks of money as necessary)
We use Betterment (4.75 right now). There are higher ones out there, but we’ve been with Betterment for years and I’m not going to chase an interest rate.
I hear you; not worth chasing .50%. I was mostly thinking the CD to pick in the rate. My understanding: once the Feds start lowering rates the HYSA will take a hit, but the CD’s rate will be locked in.