Money in the bank
My wife and I have amassed a large amount of money in the bank 6 figures where else
Can we put this money safely to gain the most interest. This money is separate from
Our ira’s and also separate from our stock portfolio. I have only social security but my wife is a retired teacher with a good pension
Terry Says
OK, this is where you need an overall financial plan — depending on your age, lifestyle, future plans to travel or buy a vacation home. I think you should have at least one meeting with a FEE-ONLY financial planner who is a FIDUCIARY– promises to put your interests first and is not trying to sell you anything!
To answer your question specifically, interest rates in safe money are very low these days — especially compared to inflation. But if you want the safest place for your money, consider opening an account with the government to buy U.S. Treasury Bills through TreasuryDirect.gov. This link will take you to the correct page.
As a bonus, there is no state income tax on Treasury bills.
