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Lurker
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Where to put liquid assets?

Right now I have an HSBC online account. When I opened the account it was offering 5.5% in 2006, maybe 2007. Today they sent me another one of those statements saying its .90%; "three times the industry average". I already have a topped off Roth, contributing to a 401k and the rest is sitting in cash. I have a brokerage account but I stopped investing the cash, I thought it was too risky to invest with that money. Id like to use it toward a down payment one day so loosing it in the market would be very very bad.

The only options I have for that money
1. Keep it liquid in that piss poor HSBC savings account.
2. Move it to Amex Savings which offers 1.30%(can always wind up where HSBC is).
3. Move it to Chase thats offering .50% but gives a bunch of other benefits like a safety deposit box when you open an account with them.
4. Open a CD of some sort. 5yr is, I think around 2%, but I dont know if I can lock it away for that long.

In any of these situations I gain very little, except maybe a free safety safety deposit box which might be worth the most at the end of the day.

I need the safest way at the minimum to protect the money from inflation and keep it easily accessible.
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Old 01-16-2011, 07:51 AM Lurker is offline  
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Forever Domon
 
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high yield checkings are still getting 3ish up to 25k with some requirements (10 debits a month, an ACH, login online)
Old 01-16-2011, 08:57 AM Forever Domon is offline  
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Stereodude
 
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If you want to protect it from inflation, you probably need to convert it to the right commodity or the right foreign currency.

I have the same problem with my HSBC online savings account. It's got a lot of money it. My 401k is max'd. I haven't done a Roth primarily because I don't trust the gov't to keep their hands off it 30 years from now. Basically I've got the same problem as you. I'm not sold on gold, and I'm not sure the Euro is a surefire bet either and they're not quite truely liquid.
Old 01-16-2011, 09:37 AM Stereodude is offline  
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VanFanel
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Put it under the mattress

All things considered, thought, I'd say a long-term high yield CD if you know for a fact you would not need that money, or into a high-yield savings account (ING, AMEX) if you don't want to risk on the market.
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Old 01-16-2011, 12:09 PM VanFanel is offline  
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Lurker
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Quote:
Originally Posted by Stereodude View Post
If you want to protect it from inflation, you probably need to convert it to the right commodity or the right foreign currency.

I have the same problem with my HSBC online savings account. It's got a lot of money it. My 401k is max'd. I haven't done a Roth primarily because I don't trust the gov't to keep their hands off it 30 years from now. Basically I've got the same problem as you. I'm not sold on gold, and I'm not sure the Euro is a surefire bet either and they're not quite truely liquid.

After reading many documents that speculate the future of the Roth, I have the same concerns. There are many compelling reasons they may and may not tax it in the end. But I figured it would be smarter to have one than not.

I dont know about investing in gold either. Part of me thinks it might be to late. If by some chance its gonna be a loser it will be huge.

Quote:
Originally Posted by Forever Domon View Post
high yield checkings are still getting 3ish up to 25k with some requirements (10 debits a month, an ACH, login online)

3'ish? No way. Who?


Quote:
Originally Posted by VanFanel View Post
Put it under the mattress

All things considered, thought, I'd say a long-term high yield CD if you know for a fact you would not need that money, or into a high-yield savings account (ING, AMEX) if you don't want to risk on the market.

Why don't you just recommend I put it in some chairs instead.

Cant do CD, might need the money sooner than a long-term CD will mature.
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Old 01-16-2011, 02:13 PM Lurker is offline  
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Forever Domon
 
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Quote:
Originally Posted by Lurker View Post
After reading many documents that speculate the future of the Roth, I have the same concerns. There are many compelling reasons they may and may not tax it in the end. But I figured it would be smarter to have one than not.

I dont know about investing in gold either. Part of me thinks it might be to late. If by some chance its gonna be a loser it will be huge.



3'ish? No way. Who?




Why don't you just recommend I put it in some chairs instead.

Cant do CD, might need the money sooner than a long-term CD will mature.
http://www.depositaccounts.com/check...-accounts.html

^^ theres a decent list. Will depend how much liquid cash you've got.

I like danversbank, as i have more than the limits of the others. Additionally, if i do go above their 25k limit, i still get 1.5% on the balance above that, which is pretty great considering.
Old 01-16-2011, 02:47 PM Forever Domon is offline  
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