banks
I have 250.000 that I want to invest . I CAN GET 4.4% AT SCHWAB MONEY MARKET BUT ITS NOT FDIC INSURED. I CAN GET 4.3% AT A REGIONAL BANK THIS IS FDIC INSURED ON A 1YR.CD. SCHWAB ALSO OFFERS 5.3% ON 1YR. CD FROM THERE ON LINE BANK IN TEXAS THAT IS FDIC INSURED. I SEE YOU LIKE TREASURY BILLS AT 4.7% ON 6 MONTH MATURITY. I”M LEANING WITH PUTING 200K IN SCHWAB 5.3% 1YR. CD W/FDIC INSURANCE AND 50K IN REGIONAL BANK MONEY MARKET AT 3.5%. WHAT DO YOU THINK
Terry Says
I think Schwab is a fine plan — but I’d keep my other money in a local bank MM fund. And if that rate isn’t good enough for you, then consider 3-month T-bills. Read this: https://www.terrysavage.com/t-bills-beat-cds/
The days you spend wiring the money to an away bank will cost you the interest you could earn in a local bank or in T-bills.
