What pays the most interest?
I have 100,000 in a checking account and I would like to transfer the money into a account that would pay me the most interest. I’m 59 years old.
Terry Says
How much are you willing to lose??? NONE? I figured that was the answer! Most banks are lagging in the interest rates they are paying.
So I recently wrote this column, explaining how to buy U.S. Treasury bills, directly from the government. Lately they are paying higher rates than most CDs. And of course, there is the highest security. The government takes the money directly out of your checking account to pay for the Treasury bills (typically choose 90 or 180 day maturities) and deposits the interest back into that same checking account. You can choose to have the Treasury bills automatically roll over when they mature, and receive the interest in your account.
Please read the article for details.
