I'm using a local bank here for basic checking account stuff, but use ING for a variety of savings accounts and savings plans. They have a super easy UI to open a new account, name it, set up an auto withdrawl. Really like ING a lot. Its a shame, when I first signed up it was like 3% or something, but yeah, 1% is wonderful…
Yeah, "saving" your money in a standard savings account is just a bad idea, you're losing against the trend and you have to invest pretty aggressively just to keep up with inflation. We had some money in a money market account, but its performance of late wasn't any better than bank down the street's savings account, so we…
This is always the case. That's how the banks make money. Savings accounts are a waste of time. Some kind of managed fund is a good alternative. Or just make more 401k/retirement contributions.
A managed fund is a mutual fund. It's still pretty liquid. But if you just want an emergency fund then don't even bother looking at interest rates. You'll never get something as liquid as a savings account that has a decent rate of return.
Having just stepped into this whole finance world within the last six months, this was something really confusing to me when looking at different possibilities. MMA's seemed cool, but I thought they were suppose to offer better rates, not similar or, in some cases, lower ones. This is something I was heavily considering…
I have one, I'll shoot you a PM. edit: for what it's worth, I switched to ING last month and I really dig them a bunch. I'm going with a local credit union here in Providence just to have a brick and mortar bank, but ING is my main account.
Yeah historically they have been good, however with the current market conditions, our MMA really dipped down to like 0.13% interest or something retarded. So we pulled our money out of that and put into a relatively aggressive Roth IRA. We have a guy we work with that handles our IRA(and used to handle the MMA) at…
almost feels like this is polycount's financial thread, haha. for reference (this may or may not be useful to you), this is how I've broken up my income: 401k (if your company has it, use it!) Additional Investments Emergency Fund Short-Term savings Bills Monthly Expenses It's worked really well for me so far. some into…