CIT Bank, our partner, offers the following benefits with their
No-Penalty CD.
Thanks to community member
psychojinx for sharing this deal.
- $1,000 minimum to open
- No penalty to access funds if needed before maturity
- No opening or maintenance fees
- Daily compounding interest to maximize your earning potential
- Member FDIC
- *See site for details
Slickdeals may be compensated by CIT Bank
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Awful , awful reviews
https://wallethub.com/profile/fir...-13003328i
I spoke to Fidelity about buying T-bills or bonds through them and my recollection is that there are two ways to do it, one involves fees and one doesn't. I figured for the same effort it would take to fully understand the difference, I could probably figure out the Treasury Direct site and I was correct about that.
The idea is to balance risk and get a better return than what my bank offer. UST Direct accomplish that with one stop shopping. You get a better rate and don't have to spend ungodly amounts of time chasing rates at unknown banks all over the country.
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https://www.betterment.
This is only good until the end of the year and then drops to 4.5%
Also right now it is very advantageous to park cash because you can make over 5% on it and if you are deft you can use that for additional BP/SPAN for options, futures and go aggressive in the futures market without incurring margin interest which is how all brokerages make their money now.
No benefit to CDs? WTF? I would say getting around 5% interest or more on your money without lifting a finger is an incredible benefit.
So it may be useful to put some time into educating on t-bills/bonds just for understanding how bonds work you can make a lot of money on bonds (corp/treas/etc) outside of the coupon rate once you get good at it. Now the high IR may only last another year or two but when governments overspend sooner or later they need to inflate their way out of trouble like 2023. It doesn't seem like the US is interested in conservative spending so this may go on for many years.
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Open a brokerage account and buy some tbills or tbill etf
Who pays for savings accounts
I am seeing Federal Home Loan Bond CUSIP: 3130AWS50
at 6.08% and its continuously callable but starting 2/18/2025 so essentially a 6.08% until then and then until you are called. It also is not locally taxed so that's helps anyone in that boat over a CD. If you plan on having money put aside thats not a bad option.
Shahhere
https://www.msn.com/en-us/money/topstocks/if-you-d-invested-1-000-in-apple-in-2000-this-is-how-much-... [msn.com]
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