Never had a savings and haven’t had a bank account in years. All this money but not maximizing it. I guess after 1 year that’s like $800. This is what Credit Karma is offering. I would have a remaining $6,000 so wouldn’t fukk up by withdrawing from the savings. Any better options or is this my best bet risk free?
Is putting $20,000 in savings at 4.10 apy a good idea?
- Thread starter BrentWoodSean38
- Start date
I think that’s fine
Mirin4rmfar
Superstar
Go to SOFI, it's 4.60 apy
This is fine. You can also put some of it in treasury bills. The benefit there is there is no state income tax on there
That’s the highest apy available?
I use m1 and get 5.0.
However I pay for m1+ which is $30 annually, right now. But I think without m1+ it’s like 4.6.
i got over 20k in a high yield savings account and im earning money but it's so damn slow. is there a faster way to go about this
Secure Da Bag
Veteran
Flip a house? Flip weight? Get lucky in the lottery or stock?
my post might be a lil obtuse lol, i was interested in different index funds that y'all be using, whether it be in different funds or whatever
Secure Da Bag
Veteran
My bad.
I would just invest in stocks that pay dividends. As long as you don't need it for emergency funds. If so, I'd take @Serious advice.
My bad.
I would just invest in stocks that pay dividends. As long as you don't need it for emergency funds. If so, I'd take @Serious advice.
INDEX wise.
SPY is the market. Averages 11% a year. 99% of people can't "ANNUALLY" beat SPY.
Koapa
Superstar
I have 20k in JEPI ETF. Its a high dividend ETF. It pays monthly dividends. I average $135.00 per month in dividend. Take the dividend and reinvest it in JEPI.
Set it and Forget it.
stockanalysis.com
Set it and Forget it.
JEPI Dividend History, Dates & Yield - Stock Analysis
Get the latest dividend data for JEPI (JPMorgan Equity Premium Income ETF), including dividend history, yield, key dates, growth and other metrics.
stockanalysis.com
You may be hard pressed to find a great dividend play that's gonna beat 4.6% and not be up and down with the market or possibly cut the dividend.My bad.
I would just invest in stocks that pay dividends. As long as you don't need it for emergency funds. If so, I'd take @Serious advice.
Secure Da Bag
Veteran
True. But on average, stock values should rise over time and also the dividends, AFAIK.