Savings account at Marcus
Hi Terry,
I was wondering if you recommend Marcus by Goldman Sachs as a good place to save money as opposed to a low yield savings account from a traditional bank. Are there any risks.
Thanks,
Terry Says
Marcus is a bank offering by well-known Goldman Sachs. It is an FDIC insured bank, and pays a higher rate because it has no offices and doesn’t do a lot of advertising. Currently, they are paying 0.50% on a money market savings account, which is higher than most local banks. It’s a pretty good deal — no fees, no hidden costs. So no warnings from me. In fact, I’m glad you brought it to my attention. I might move some money there since every penny counts these days!
