Yeah, it’s variable. If rates go back down so will SPAXX. Its 7 day yield is 4.74%.
What does “fixed at…right now” mean? How is that different from variable?
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They couldn’t do my loan because my employer gave me a sweet benefit where they pay for a percentage of my home as a forgivable loan. Was super annoyed
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It’s based off of fed interest rates not a market rate like spaxx
So if fed rate does not change, then the interest rate cannot change?
Terms and conditions apply
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It is not a fixed rate in any meaningful sense.
Edit:
As we’ve explained before, the rate we’re able to pay on the Wealthfront Cash Account is based on the rates we receive from Wealthfront’s partner banks — the banks where we place your cash account funds. The rate from our partner banks is based on a set premium over the previous night’s effective fed funds rate, which is the average rate that banks lent and borrowed funds to each other the prior night. This means a decrease in the effective fed funds rate will lead to a decrease in the rate we receive from our partner banks.
If it ain’t broke…
I have heard this recently about the Apple savings account! (backed by Goldman)
How the hell does David Solomon still have a job after dumping billions into a failed consumer bank. What a dope.
Still debating on which HYSA to move money to. I’m now leaning toward LendingClub with a 4.25% apy currently. Main attraction is that I can deposit cash at ATMs near me so won’t have to use my local account as a pass through. That convenience is huge as I deposit cash several times a month.
They have good reviews, just a little hesitant given their relatively young existence as a bank since acquiring Radius a couple years back. Anyone have personal experience with them?
I thought Ally did this
Everything I saw said that Ally does not accept cash deposits. They’d probably be my front runner if they did based on the positive feedback here though.
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If you have many billions and you lose some billions you’re still a billionaire.
RUN THE COUNTRY LIKE A BUSINESS COMMON SENSE BALANCED BUDGET!
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It is their one big shortcoming for sure. For me it hasn’t been a problem, I just don’t deal much in cash so hasn’t been a problem. If you need deposit cash on the regular it’s not good.
For the rare occasions I need to I have been able to pay a small fee to deposit some cash, but it is an extremely rare occurrence and would not work for sizable sums.
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Ok, thanks for the feedback. 95% of my income is in cash so probably have to go with LendingClub just for convenience sake. Or I guess I could put a chunk of my saving in each to see which one has a better return long term.
Some FIRE guy was on Good Morning America today with some common sense tips to help people do what he did and retire in his mid-30s to live a more intentional life and spend time with his kids.
- diversified investing
- dollar-cost averaging
- passive income
- own a successful IT consulting firm and sell it when you’re in your mid-30s
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Anything about Daddy and Mumsy paying for college and helping him buy a million dollar house by age 25?
Mint driving me mad the last couple of months with this new Chase sync which asks me to re-sync every time I log into Mint, causing all sorts of duplicate accounts/transactions. Think I finally got it sorted out (by just hiding some duplicate accounts from transactions/trends), but I suspect I missed something along the way and some of my historicals may be off, which annoys me since I like looking at them for comparisons over time.