Current Events > 10% interest in my money market.

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Cotton_Eye_Joe
05/17/23 10:35:25 AM
#1:


Good deal?

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R1masher
05/17/23 10:36:18 AM
#2:


10% sounds pretty pretty pretty good, no?

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Starks
05/17/23 10:37:05 AM
#3:


Where are you getting above 4.x?

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ironman2009
05/17/23 10:37:56 AM
#4:


10% is scam level warning light

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THRILLHO
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HudGard
05/17/23 10:38:48 AM
#5:


Sounds like a place desperate for money.

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#6
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Mearcstapa
05/17/23 10:53:50 AM
#7:


Sounds like one of those scammy crypto platforms.

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after years of waiting
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theAteam
05/17/23 11:05:19 AM
#8:


Mearcstapa posted...
Sounds like one of those scammy crypto platforms.

First thing I thought of

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Starks
05/17/23 11:05:34 AM
#9:


I'm nearing the conclusion that bank accounts are mostly worthless when your cash is pretty much just as safe in SPAXX.

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Xenogears15
05/17/23 11:07:59 AM
#10:


Starks posted...
I'm nearing the conclusion that bank accounts are mostly worthless when your cash is pretty much just as safe in SPAXX.

Wife and I are keeping a good portion of our money in bank accounts (mostly because we need the access to liquid due to life circumstances), but have been moving 5 and soon to be 10k into CDs. When Fidelity is offering 5.15% for a 3-month CD, how can I say no?

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Starks
05/17/23 11:12:46 AM
#11:


I don't see much value in a CD beyond the higher rates.

CD means your money is untouchable.

Funds in a money market are still treated as cash and immediately available. And you still get the monthly interest.

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Mearcstapa
05/17/23 11:14:25 AM
#12:


Starks posted...
I'm nearing the conclusion that bank accounts are mostly worthless when your cash is pretty much just as safe in SPAXX.

I've recently switched from Money Market Mutual Funds like SPAXX/SWVXX to Floating Rate Gov Bond ETFs like TFLO/USFR.

The yields are actually a little higher, and you get slightly faster liquidity that you don't get with mutual funds.

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DarthDemented
05/17/23 11:18:46 AM
#13:


I'll money your market!

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Xenogears15
05/17/23 11:21:42 AM
#14:


Starks posted...
I don't see much value in a CD beyond the higher rates.

CD means your money is untouchable.

Funds in a money market are still treated as cash and immediately available. And you still get the monthly interest.

Not sure what kind of Money Market accounts that my bank offers, but they did offer me one with like 3.75% APY, but I needed to maintain a 25k balance, which I just can't do. I'll have to see what else they have.

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Starks
05/17/23 11:26:38 AM
#15:


Just use Fidelity

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Xenogears15
05/17/23 11:57:37 AM
#16:


Starks posted...
Just use Fidelity

I'd rather stick with my bank for simplicity's sake, especially since I would be transferring over amounts around 10k.

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