T-Mobile Money offers a 1% checking account and saving account. Both FDIC insured. I'm not exactly sure how they can afford this, or how long it will last, but it's the highest rate account I've found so far, and you don't need to be a T-Mobile customer.
U.S. interest rates have soared everywhere but savings accounts
41–50 of 356 posts
Re: U.S. interest rates have soared everywhere but savings accounts
#42Earlier quoted context omitted.
Or it's just a way to screw younger people who didn't lock in fixed rate mortgages when they could.
>Or it's just a way to screw younger people who didn't lock in fixed rate mortgages when they could. Lets say we climb to 15% inflation and subsequently interest rates. Who can afford to pay 150,000$/year on a million $ home? Literally nobody. The boomer selling the home suddenly cant sell their home for a million. It will have to drop in order to spend that $. That retirement fund is suddenly looking weaker. Generat…
> We do know inheritance taxes are absolutely destructive to economies
Is there any data to back that claim?
Re: U.S. interest rates have soared everywhere but savings accounts
#43Serious question: inflation seems to only be getting higher (is it 8%+ now?) the Fed's increasing of the interest rate is causing a stock market crash. So if one puts their money into assets, those are decreasing in price due to the fed, and if someone is holding cash that's also going down in value due to inflation. What's the solution?
Based on the market a lot of people believe “buy some real estate” is the solution. But that bubble IMHO is about to pop.
Maybe look into interest protected bonds? https://www.treasurydirect.gov/indiv/products/prod_ibonds_gl...
Personally I have been just spending what I make assuming saving is moot right now (besides 401k and espp)
Re: U.S. interest rates have soared everywhere but savings accounts
#44Is this a US problem? In India you can easily get 5% interest in savings account. Maybe an opportunity to move money to Indian banks through crypto and then get it back after getting that sweet interest.
Re: U.S. interest rates have soared everywhere but savings accounts
#45Serious question: inflation seems to only be getting higher (is it 8%+ now?) the Fed's increasing of the interest rate is causing a stock market crash. So if one puts their money into assets, those are decreasing in price due to the fed, and if someone is holding cash that's also going down in value due to inflation. What's the solution?
There isn't one, there is a market and prices are adjusting, the price of temporal work transfer.
Re: U.S. interest rates have soared everywhere but savings accounts
#46Serious question: inflation seems to only be getting higher (is it 8%+ now?) the Fed's increasing of the interest rate is causing a stock market crash. So if one puts their money into assets, those are decreasing in price due to the fed, and if someone is holding cash that's also going down in value due to inflation. What's the solution?
Based on the market a lot of people believe “buy some real estate” is the solution. But that bubble IMHO is about to pop. Maybe look into interest protected bonds? https://www.treasurydirect.gov/indiv/products/prod_ibonds_gl... Personally I have been just spending what I make assuming saving is moot right now (besides 401k and espp)
I think rising interest rates should depress the value of housing. With a higher interest rate you can't afford as much principal so you start bidding on cheaper houses.
Re: U.S. interest rates have soared everywhere but savings accounts
#47T-Mobile Money offers a 1% checking account and saving account. Both FDIC insured. I'm not exactly sure how they can afford this, or how long it will last, but it's the highest rate account I've found so far, and you don't need to be a T-Mobile customer.
One Finance gives 3%, but it only applies to direct deposit
Re: U.S. interest rates have soared everywhere but savings accounts
#48Is this a US problem? In India you can easily get 5% interest in savings account. Maybe an opportunity to move money to Indian banks through crypto and then get it back after getting that sweet interest.
Savings accounts rates are also lagging behind central bank rates and inflation in EU, for example Poland.
Re: U.S. interest rates have soared everywhere but savings accounts
#49Re: U.S. interest rates have soared everywhere but savings accounts
#50Earlier quoted context omitted.
Savings accounts are effectively giving you -8% right now
> Savings accounts are effectively giving you -8% right now Savings accounts have always been of dubious value for preserving or accruing value.
I don't know the last time I had money in a savings account. Probably decades. Even when interest rates were higher I remember savings account interest was pretty paltry.