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CD, high yield savings, or money market for $5K bonus?
$ 5K and I need advice: 1 I get a CD ladder? Interest rates? Ss? N very low and right makes me think. . 0.2. I dump all my high yield savings account? 3 I’m not familiar with money market securities for? s prices? Einsparungen.Anmerkung No comparable to a high performance, I have invested enough in my jubilaci? and individual accounts.
Here are several suggestions. I do not have a financial interest in any of these websites.
Yahoo allows you to search for rates at this site:
http://finance.yahoo.com/rates/query?t=s
Consider the the Vanguard Prime Money Market Fund. If you are in a high tax bracket you may prefer their tax exempt money market funds:
https://personal.vanguard.com/us/FundsByType
Sometimes other institutions will have a higher teaser rate, but Vanguard tends to have the highest yields I’ve found over the long run. (Vanguard money markets are not FDIC insured, however.)
Article on teaser rates:
http://www.marketwatch.com/news/story/banks-advertised-rates-dont-always/story.aspx?guid=%7B0A13B6E2-FFB2-4E2B-BD42-E2D1E01C52E5%7D
Bankrate.com provides links to CD’s with high interest rates as well as high interest rate banks.
http://www.bankrate.com/
ING and HSBC often have rates close to Vanguard, and most of their products are FDIC insured. You can check these at the following links:
http://home.ingdirect.com
http://www.us.hsbc.com
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LikeDislikehigh-yield savings would be the first thing I would do. Then, when interest rates went up, put the money into a certificate of deposit account
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LikeDislikeSavings while the market sux.
I’d consider some/all of it in your retirement fund and/or 529/CESA (if you have kids).
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