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Forum ยป Should I put 20K in Marcus savings account or UFB savings account?
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Thread: Should I put 20K in Marcus savings account or UFB savings account?

post 1678532023 03-07-2023, 07:34 PM
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Should I put 20K in Marcus savings account or UFB savings account?

Looking for pros and cons of each (srs)
post 1678532213 03-07-2023, 07:37 PM
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fed may raise rates even more (news today).

what about 100K though...where to put?
post 1678533033 03-07-2023, 07:52 PM
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You should put it in SWVXX. Risk-free 4.48%
Always Neg Back Crew.
post 1678533133 03-07-2023, 07:53 PM
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Put it all in for a down payment on real estate and then rent it out. Even if ur paying a couple hundo a month for the mortgage, it'll still be worth it
By reading this post you acknowledge SikhAndDestroy is an online persona and all posts by SikhAndDestroy are satirical in nature. Comments by SikhAndDestroy shall not reflect on the integrity and morals of the author portraying the online character nor any professional or contractual affiliates of the author.

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post 1678533293 03-07-2023, 07:57 PM
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Originally Posted By Lefticle⏩
You should put it in SWVXX. Risk-free 4.48%
researched it. don't see that 4.48% anywhere. link please?
post 1678533373 03-07-2023, 07:58 PM
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Originally Posted By SikhAndDestroy⏩
Put it all in for a down payment on real estate and then rent it out. Even if ur paying a couple hundo a month for the mortgage, it'll still be worth it
problem with this is tenants. unless you hire someone to do that for you. can be a nightmare. thats the rise of luxury apts. anything less expensive creates a lotta headaches. poors dont care about their credit let alone have steady incomes.
post 1678533403 03-07-2023, 07:59 PM
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Originally Posted By andrepmeet⏩
researched it. don't see that 4.48% anywhere. link please?
You clearly did a terrible job of researching it:

https://www.schwab.com/money-market-funds

I have $120k currently parked in SWVXX
Always Neg Back Crew.
post 1678533493 03-07-2023, 08:01 PM
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If you don't have 6 months saved up, I think a HYSA makes sense for the easy liquidity. Market may be looking rough this fall
post 1678533543 03-07-2023, 08:01 PM
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bonds and CDs are paying 5% for between 13 and 24 month terms. ibonds are something like 6.8% and will likely go back up but only like 10K per year. if you are just parking cash short term...
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post 1678533653 03-07-2023, 08:03 PM
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Originally Posted By Lefticle⏩
You should put it in SWVXX. Risk-free 4.48%
Not exactly risk free... but hey it's pretty close.

Can get SNAXX if you drop a milly on it. No problem.


Use to have SWGXX which was an auto liquidating fund. Meh expense ratio but didn't have to manually sell and buy like the other money funds from Schwab. Only time you'll see it now is for people who already have it and are grandfathered in. True cash equivalent for Schwab.
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post 1678533713 03-07-2023, 08:04 PM
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Originally Posted By Lefticle⏩
You clearly did a terrible job of researching it:

https://www.schwab.com/money-market-funds

I have $120k currently parked in SWVXX
yeah I did. didn't go to their website either.

thanks.

I'm also watching the Chris Rock stand-up so I wasn't as diligent as I usually am.


You must spread some Reputation around before giving it to Lefticle again.
post 1678534253 03-07-2023, 08:17 PM
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navy fed has a 5% cd and im sure lots of other banks do too. decent idea but obviously it locks the money up for some time. my house savings is in it and i can still contribute to it every payday...limit is 250k i think.
post 1678538753 03-07-2023, 10:00 PM
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solana
post 1678538973 03-07-2023, 10:07 PM
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Marcus is offering 4.75% with referral bonus.
It is the current year.
post 1678539123 03-07-2023, 10:09 PM
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Post deleted by user
post 1678539283 03-07-2023, 10:15 PM
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Originally Posted By Exiled93⏩
navy fed has a 5% cd and im sure lots of other banks do too. decent idea but obviously it locks the money up for some time. my house savings is in it and i can still contribute to it every payday...limit is 250k i think.
Some accounts let you build ladders. I think a schwab brokerage account has a ladder builder that can help with that.
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