Best Place for Cash?

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  #16  
Old 04-03-2020, 07:07 AM
dennisgavin dennisgavin is offline
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For those of you who keep your money under the mattress, in the freezer or other places in the house PLEASE be considerate and post your address, when you will be out for exercise and as does Motel 6, leave the light on.
Thanks, much appreciated!
  #17  
Old 04-03-2020, 07:09 AM
stadry stadry is offline
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cash is 'green' & that's always in the safe,,, discretionary/investment funds are different,,, look at AAA's cd's ( the auto club )
  #18  
Old 04-03-2020, 07:19 AM
dally1932 dally1932 is offline
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We have CD's with CFR (Christian Financial Resources). We have invested with them for about 5 years. They have a 15 month promotional CD at 3% APR as of yesterday. Minimum investment is $25,000. They are in the business of financing/refinancing Church buildings and remodel projects. They have been in business since the 1980's. They also have a ready cash account that pays 1.8% and you have access to the funds at any time as well as CD's up to 10 year term. They are not FDIC insured.
  #19  
Old 04-03-2020, 07:30 AM
NY2TV NY2TV is offline
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Quote:
Originally Posted by tophcfa View Post
American Express High Yield savings account. It’s an on-line bank (doesn’t have to cover the expenses of a brick and mortar bank) that credits a higher rate than a typical bank account. It is currently crediting a 1.7% rate and is FDIC insured for up to $250,000. It only allows 6 withdrawals per year, but no limit on how much each withdrawal can be.
AmeEx HY Savings is down to 1.6%.
  #20  
Old 04-03-2020, 07:39 AM
wirenail444 wirenail444 is offline
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This is the time to invest in the stock market. It may still go lower in the next month or two, but the potential for profit is great over the next several years when thinks return to normal. Put you have to leave it in the market for these several years. This is not for the faint of heart. Do not invest if you need the cash to survive.
  #21  
Old 04-03-2020, 07:50 AM
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Quote:
Originally Posted by larcha View Post
Go to Bankrate.com (Bankrate: Master Life's Financial Journey). They have an excellent listing of option and rates for savings, MMAs, and CDs as well as other financial products.
Excellent reference resource!
  #22  
Old 04-03-2020, 08:15 AM
Mike193534 Mike193534 is offline
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Default Small PA local bank...

It gives 2% on checking accounts up to 25,000.00. No limits on # of checks or deposits.
  #23  
Old 04-03-2020, 08:17 AM
diamond2005 diamond2005 is offline
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Default Triple A rated, tax free Municipals; if it is for IRA (which cannot have tax free

Quote:
Originally Posted by champion6 View Post
Looking for some suggestions based on your first-hand experience
Where have you put cash?
Why did you choose it?
What are you earning on it?
Triple A rated tax free Municipals; if, it is for IRA, which cannot have tax free items, high rated Corporate Bonds, with early termination dates.
  #24  
Old 04-03-2020, 09:11 AM
OhioBuckeye OhioBuckeye is offline
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Quote:
Originally Posted by champion6 View Post
Looking for some suggestions based on your first-hand experience
Where have you put cash?
Why did you choose it?
What are you earning on it?
I worry more about every bodies money that’s in bank. Will the govt. step in & start taking money from the banks? Will somebody warn us if the govt. steps in & starts using our Sav.? I always thought if the govt. had their fingers in banks anyway shape or form, they could take it or keep you from getting any of our own money. This is just a thought, but I really don’t think it’ll get that bad. Does anybody have any thoughts about that?
  #25  
Old 04-03-2020, 09:11 AM
BeauJangles BeauJangles is offline
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Discover ONLINE 2% compounded monthly.
  #26  
Old 04-03-2020, 11:41 AM
Rosie1950 Rosie1950 is offline
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Quote:
Originally Posted by Challenger View Post
unless you have a fire
Then it’s in the bra with the girls
  #27  
Old 04-03-2020, 12:10 PM
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Quote:
Originally Posted by BeauJangles View Post
Discover ONLINE 2% compounded monthly.
I looked for that but didn't find it. I found only a Discover Online Savings Account, 1.5%, compounded daily, paid monthly.
  #28  
Old 04-03-2020, 12:14 PM
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Quote:
Originally Posted by NY2TV View Post
AmeEx HY Savings is down to 1.6%.
You are correct, I got an e-mail yesterday from AMEx that they dropped the rate on my account by 10 basis points. Still attractive relative to comparable alternatives.
  #29  
Old 04-03-2020, 12:32 PM
retiredguy123 retiredguy123 is offline
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The Vanguard Money Market Fund is yielding 1.05 percent. Even if you can get an extra 0.5 percent more than that, you would only get an extra $42 per month on $100K. And, then you have to pay income tax on it. Doesn't seem worth moving money around unless there is a substantial gain. Do the math first.
  #30  
Old 04-03-2020, 12:33 PM
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champion6 champion6 is offline
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Quote:
Originally Posted by diamond2005 View Post
Triple A rated tax free Municipals; if, it is for IRA, which cannot have tax free items, high rated Corporate Bonds, with early termination dates.
After some research, I found this to be very interesting.
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