Marcus money market at Goldman Sachs currently pays 1% with no minimum. People don’t need to settle for the bupkis offered by banks. If people would take a little time educating themselves on the most basic tenets of financial planning, they wouldn’t choose such a paltry rate.
I use laddered MYGA’s (multi year guaranteed annuity) vs bank CD’s as the rates are FAR higher and backed by the issuing insurance company and the State of FL.
I agree that ALL annuities are not bad. A pension and SS are types of annuities and are quite popular with retirees. IMO, the “financial advisors” peddling variable and index annuities in TV are a pox on society and prey on vulnerable seniors.
Also, gotta love that VOO!
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