Best Savings Account Rates (2023) | High Yield Savings Accounts Over 5%

Рет қаралды 52,604

Күн бұрын

The best high yield savings account rates today top 5.00%. The problem is most large finance sites don't include them in their lists of the "best" savings accounts. In this video we look at the highest APY savings accounts and how to find them.
------------
Video Resources
------------
ufb Direct 5.02%: www.allcards.com/go/ufb-direc...
Best Savings Account Rates: www.allcards.com/best-savings...
Join the newsletter: robberger.com/newsletter/?utm...
------------
Timestamps
------------
0:00 Best High Yield Savings Rates
1:06 Large Finance Sites
2:43 Best Savings Rates from Well-Known Banks
4:15: 5 Highest Savings Account APYs
7:23: Where To Find the Best Savings Accounts
------------
Investing Tools
------------
My Book (Retire Before Mom and Dad): amzn.to/2MsRJ9B
Personal Capital (Investment Tracking, Retirement Planning): robberger.com/personal-capital
New Retirement (Retirement Planner): robberger.com/new-retirement
Stock Rover: robberger.com/stock-rover
M1 Finance $30 Bonus (IRA & Taxable Accounts): robberger.com/m1finance-bonus
------------
Credit Cards & Banks
------------
My Favorite Credit Cards: www.allcards.com/best-credit-...
My Favorite Online Banks: www.allcards.com/best-online-...
------------
Popular Videos
------------
1️⃣ How to Create a 3-Fund Portfolio: • How to Create a 3 Fund...
2️⃣ How I Manage 28 Accounts in One App: • How I Manage 28 Financ...
3️⃣ 7-Step Financial Checkup: • A 7-Step Annual Financ...
#savings #apy #robberger
ABOUT ME
While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.
I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (amzn.to/3by10EE)
LET'S CONNECT
KZfaq: / @rob_berger
Facebook: / financialfreedomguy
Twitter: / robert_a_berger
DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.
AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning at no cost to you I earn a commission if you click through and make a purchase and/or subscribe. However, I only recommend products or services that (1) I believe in and (2) would recommend to my own mom.

Пікірлер: 250

@jomersj Жыл бұрын

Thank you very much.

@billllib9000 Жыл бұрын

Rob, what pays more interest per month: High yield savings account of 3.75% or a money market 7day yield of 4.85% ? I’m confused on the 7day yield. Thank you

@Vinyvasquez 10 ай бұрын

If we are being honest with ourselves, taxes may be a major pain, just like they are for the wealthy. Taxes on income, goods and services, real estate, etc. It's wonderful to pay taxes, but we may also establish our own tax havens. Since stock market appreciation is not taxed, I personally invest most of my money there.

@keralakora 10 ай бұрын

I knw times are uncertain. I and my spouse are wrking on a ballpark estimate of $5M for retirement, and I have a good 6-figs each load/ed up for this, you think we can do it in 5 yrs at most? I'm nearly 55.

@FloriKrueger 10 ай бұрын

I don't see BoC dropping rates even if inflation get's to it's 2% target's or even lower, when BoC did pause home buyer jump into the market faster then supply could keep up making home not only rise but jump in price and bidding, also keeping rates high let's banks and lenders have very high profits do to many home owner paying interest only mortgage payments and adding to they balance for years to come

@user-st8rm1ty7g 10 ай бұрын

Great actually. I am one of many private clients under KAYLA TABITHA RODRIGUES, with private invsting I made over 500 grand, 200 is ready to redeploy back into the equity and money mrkts in the ratio as rebalanced by Kayla. You are welcome.

@user-st8rm1ty7g 10 ай бұрын

KAYLA TABITHA RODRIGUES, if you care for guidannce, research you’ll find details

@MimaLopez-jt4vq 10 ай бұрын

@@user-st8rm1ty7gNice recommendation. Lady looks great. Hopefully I can get some insight into my family's portfolio

@paulbiel517 Жыл бұрын

Thanks Rob for doing all this research! I've chased the high yielders--at one point Marcus was the highest, then Barclays, and then CIBC. I kept opening new accounts and transferring money out of one into the other. I think the high-yielders generally are so because they are generally new and unheard of--and they are trying to collect capital. Once they've met their targets--the rate goes lower. Sometimes that can be a year and then someone else takes the lead.

@grayspainhour3051 Жыл бұрын

Great video! 5.02% is a great rate. I wonder how long it will last?

@westinbye Жыл бұрын

Do the rates change often? As in if I open a savings account today could it drop to 3 percent tomorrow?

@dermotbrennan7555 Жыл бұрын

Great Video Rob. CIT bank platinum savings rate is excellent. They also have a no penalty 11 month CD at 4.8%. All the banks you mentioned are all FDIC insured so risk free. 🤞🤞

@tylerwbrown86 Жыл бұрын

Wait until you learn the FDIC barely has enough money to cover the collapse of a single bank. Let alone the whole US. But yeah, “risk free” 😭😭😭😭😭😂

@Ethernet480 Жыл бұрын

@@tylerwbrown8663% of USA citizens have less than $1000 in savings…there’s $75 Billion in currency circulation, without counting daily printing. Nobody needs paper to pay for almost anything anymore. Take into consideration that the people most likely to make a run on the banks are the folks within said 63%….safe to say you can take your tin foil hat and clown shoes off.

@brycegardner6171 Жыл бұрын

Thanks for the info, very interesting. Is there a way to find the historical rates for a savings account? For example, how often have ufb Direct changed their rates?

@isipwater Жыл бұрын

Great video. I have read lots of bad reviews about ubf so wondering what others know. Lots of good other options.

@Big_Buck-007 Жыл бұрын

Nice key board my guy 👍

@taralewis9916 Жыл бұрын

Savebetter is 4.85% this morning. I also purchased 17 week T-bills. The rate is about 4.9% but I see a big advantage in that I don't have to pay state and LA local taxes on the interest.That could be a big tax saving

@sudadzesaba Жыл бұрын

Why would you pay state? (It's my first year in u.s and idk how this works)

@jroh9121 Жыл бұрын

@@sudadzesabahe means pay taxes on the growth, which I don’t agree with.

@kidtury Жыл бұрын

Hi, what do you think of M1 finance offering 5.0 apy

@GabrielJayChapman Жыл бұрын

Would love an exercise like this for business savings.

@kw7292 Жыл бұрын

Rob is trusted advisor. He’s very good!

@frankmarsh1159 Жыл бұрын

Best of all there's no annoying instrumental hip-hop music blasting while he's talking.

@rumpstatefiasco Жыл бұрын

I appreciate your awesome REAL WORLD approach, thanks for sorting through so much chaff so we don’t have to!

@freddychica2348 Жыл бұрын

Is there a maximum deposit limit for these savings accounts?

@davidpagel829 Жыл бұрын

Think you ought to comment on the ratings of some of these banks. I applied for an account at one bank and I had to quit because they were so terrible simply in the application process.

@noreenn6976 Жыл бұрын

Thanks Rob! www.allcards.com is very helpful

@russellbee311 Жыл бұрын

I can’t get the savings open. Requested it twice and got a checking both times. What am I doing wrong?!

@bigbawsz2054 Жыл бұрын

Axos link in your description shows 2.35 apy on savings..

@noreenn6976 Жыл бұрын

KZfaq sent your silver button quickly, nice!

@billtraylor7373 Жыл бұрын

Love this! Can any of these be business savings? Looking for high yield for my S Corp

@xavieracoleman2657 Жыл бұрын

I’m looking for the same thing for my scorp

@Yette Жыл бұрын

Thanks as always Rob for your newsletter, it's must see Sunday read

@lrrogers7 Жыл бұрын

Question I have is what banks are safe? How do we determine this?

@athrunzala798 Жыл бұрын

We currently have our emergency fund with Bask bank who just increased their apy to 4.65%. Not quite as good as those on the list, but there wasn't any minimum requirements and whatnot

@annpeterbuggy4954 Жыл бұрын

Vanguard brokerage CD is 5%. What do you think of this option?

@murraypassarieu9115 Жыл бұрын

Can’t wait for your I Bond video. I’m making a decision on that Friday. Either a 5% 18 month CD at ALLY (assuming it’s still available then) or an I Bond is how I’m leaning.

@davidtvedte1337 Жыл бұрын

If your goal is short term then the CD will most likely be the better choice as the I-Bond rates are likely to fall. If you are thinking more long term then I would wait to see what the next I-Bond fixed rate is and likely more than the current 0.4%. While you wait you can always get a 3 or 6 month T-Bill.

@user-ev5fc8ul4r Жыл бұрын

Thanks Rob. Have you reviewed which brokerage firms offer the best money market interest rates?

@Sara-fb5hs Жыл бұрын

Empower is now 4.25 as of end of March 👍🏻

@BigPaPaRu Жыл бұрын

3 month cd vs 10 month cd. Both pay 5%. Is it more lucrative to do the 3 month?

@BerserkingGator Жыл бұрын

Rob, what are your thoughts on TBill ladders right now due to high interest rates? Thank you for your insight.

@speedracer2111 Жыл бұрын

Hi Rob, First time seeing your channel and I appreciate the informative content, however please also let your 118k subscribers know about the reviews as well. Yes the company with 5.02% rate seems great but when I did a google review it was AWFUL and PAINFUL to see what some of the customers are encountering. One called them a SCAM. I'm not sure if you are getting any incentives to promote any one particular bank or institution, but SAVER BEWARE, the reviews on UFB Direct leaves me a bit weary to say the least.

@mingyuwang6638 Жыл бұрын

Really

@jcwgirl Жыл бұрын

I found the same thing! Lots of complaints out there about UFB Direct, most stating that customer service is abysmal, sign up process is a hassle, and some felt like their money was stuck in limbo - with no help from the bank. I'll take a slightly lower APY for a better customer experience. I'd love to see a comparison video with service/reviews factored in.

@mplslawnguy3389 7 ай бұрын

I'm suspicious of any of these obscure banks that claim these high interest rates. Look at all the major banks that offer HYSA's, and then there is a handful of obscure, online banks that beat them by .5% or more. I always ask myself, what is the catch? I feel better keeping my cash in an established, well known institution. I personally use Marcus. It's not the best rate out there, but Goldman Sachs is an institution. I have no doubt everything is legit, and their app is simple and to the point. I'm not switching for less than 1%.

@speedracer2111 Жыл бұрын

CFG as of today is 5.02% APY and UFB Direct has gone down now to 4.81%

@jeanne-gord7685 Жыл бұрын

Hi Great videos backed by a ton of research. My question is this: If I can get 5% on a savings account why would I want to consider a cd of 6mnth or 1 yr or even longer? When they are around 5% also? Is it because that rate of return would be guaranteed for that term? And if rates are falling for the future it would then make sense to have the money locked in? Going into retirement we are thinking we need 3 years of cash or near cash available just incase the equity markets collapse. In fact if the market is looking jittery as it did in 2021 before the recent collapse we would likely up our cash reserve to 5 years in order to protect it by waiting out a collapse and subsequent rebound.

@timma8510 Жыл бұрын

Because HYSA rates can change at any time. That’s the problem with chasing these rates. CDs will guarantee a rate for a specific period - at the opportunity cost of locking up your liquidity for that same period.

@puetzranch 11 ай бұрын

Can someone let me know if you have used Raisin (renamed from savebetter) and if it is safe and legit?

@casrob9969 Жыл бұрын

Baxter Credit Union Checking 4% APY plus 3.99% dividend. Rainy Day Savings is 2% plus 1.99% dividend

@vonzcoleman311 11 ай бұрын

DCB (Desert Community Bank) Bank is offering 8%. Is this a safe bank for a HY Savings account?

@craigbuyer Жыл бұрын

VIO bank offers 4.85%APY for their MoneyMarket saving account with no minimum deposit. Their CDs are 5.05%APY for 6 months.

@rmcbryde Жыл бұрын

Can a non-profit org open a high yield savings account?

@user-es5fs4mp5q 11 ай бұрын

i recently learned about Consumer's creddit union checking account with 5% apy on up to 10k with a few coonditions. have you heard about them? think they are trustworthy or did i misunderstand their termms? Please let me know what you think, I am seriously cnsidering them

@MovieJustin Жыл бұрын

Do any of these banks have a brick-and-mortar presence how can I get a cashier's check or money order the same day?

@erikacamacho7827 Жыл бұрын

PNC is 4.5 in my area.

@BrooklynStateOfMind Жыл бұрын

Thanks for all your hard work! Btw, CFG Bank @ 5.02% and one yr CD @ 5.20%

@ignatiusstockhausen1535 Жыл бұрын

I Didn’t see PNC 4.3%APY on your list. They only offer it on the High yield savings online account and only in the states they have brick and mortar banks.

@daveschmarder-1950 Жыл бұрын

I see your KZfaq award. Congrats Rob!

@rob_berger Жыл бұрын

Thank you. Neglected to take it out of the wrapper!

@wdeemarwdeemar8739 Жыл бұрын

I have accounts with So Fi and Ally. I like them both. Not changing anytime soon.

@stanhunt8543 Жыл бұрын

Which do you prefer?

@wdeemarwdeemar8739 Жыл бұрын

@@stanhunt8543 if forced So fi savings rate is better and also budgeting software but you must direct deposit your paychecks . Ally has a better interface.

@stanhunt8543 Жыл бұрын

@@wdeemarwdeemar8739 thanks

@andreytravkin7579 Жыл бұрын

There is also Juno account, they doing mostly crypto and I don't trust it, but they have checking account which pay 5%

@rossim1918 Жыл бұрын

Thanks for the video. Would be nice to have best rates for combined cd and savings together. Seems an offering has a high savings but lower cds. I would be attracted to a high cd rate which I can transfer to a high yield savings account. Possibly if your team could build would be great.

@rob_berger Жыл бұрын

I'll be covering CDs soon.

@theeds Жыл бұрын

I'm curious if these banks offer consistently high yields over the years. I would prefer something consistently high over having the highest to avoid having to move money all the time.

@jblondin1980 Жыл бұрын

They don't...

@chuckmorse981 Жыл бұрын

UFB makes you wait 5 business days on an ach transfer in. Most others don’t require that many days.

@zacktsilis6892 Жыл бұрын

Look at Salem five direct.

@AliAli-un3nf Жыл бұрын

Do any of these banks allow an account to be opened up as a trust?

@avirb1 Жыл бұрын

Discover Bank has 4.5 % CD rate

@aniketdhamane5141 Жыл бұрын

Thanks Rob for detailed research and sharing information with us.. Huntington bank offers Relationship Money Market account with promo rate of 5.12% APY guaranteed for 12 months (with min deposit of $25K).. What would you recommend Rob?

@alanduff2205 Жыл бұрын

I've been with UFB for a few months. Just not going to move around for a few basis points if someone pays a better rate. Tired of my regional bank paying 0.01%, moved all but $100 to UFB.

@Mohammad-bg1xc 11 ай бұрын

Bro please tell me how much taxes do we have to pay on the intrest . Give us the good and the bad so we can make the right decision

@BLR653 Жыл бұрын

Rob loose the cover over the KZfaq subscriber award! Its giving off a ton of glare!

@rob_berger Жыл бұрын

I know! Didn't catch that until after filing the video. It's gone now!

@user-tc8mk3xz3w Жыл бұрын

Newtek Bank is offering 5.00%

@pareshsidpara5983 11 ай бұрын

CFG Bank currently offers a savings account at 5.11% as of 6/26/23.

@migel5609 3 күн бұрын

excellent,, this video its more than a year old ,,are you going to update this ??? thanks very goood

@anash578 Жыл бұрын

What about M1 finance HYSA at 4.50% when they launch it ?

@rob_berger Жыл бұрын

We'll track it when it's available. Good option for those already using M1.

@hillrg1 11 ай бұрын

I found Vio Bank which is also currently 5.02%

@juanpinela56 Жыл бұрын

Ponce Bank 5.05% through Savebetter

@RSGTomcat Жыл бұрын

Citi High Yield is currently at 3.78%

@SuperArmus Жыл бұрын

M1 finance is offering 5%. Any thoughts on that? I'm thinking about going with them.

@KenzieWestbrook Жыл бұрын

It is only 5% if you pay for their premium app. I haven't budgeted it out to see if its worth the price for the high yield though, it could potentially still be a good option.

@pointreyes4272 Жыл бұрын

Fidelity and Vanguard offer rates in the 4.75% ranges with no hassles. Let's stop back in 3 months and see if they are still higher or if it was a teaser rate. If you had $100k is it worth monkeying around at these banks and credit unions? I don't think so.

@karenscookingkorner Жыл бұрын

Appears the 5% rate is variable? Is it possible that they offer this high rate, get money coming in then lower the rate?

@rob_berger Жыл бұрын

Well, all savings account rates are variable, and that's always a risk.

@MILGEO Жыл бұрын

I can't help but wonder how long the advertised rate remains in place before they drop the rate, making it a kind of teaser rate? And of course someone else will likely come out with a better deal at some point.I remember a time when we thought that we were only getting 5% at local brick and mortar banks. It sure sounds good these days!

@mplslawnguy3389 7 ай бұрын

I'm suspicious of a lot of these online banks that offer much higher rates than the others. There is always a catch.

@CDKstudios Жыл бұрын

I know that SoFi isn't a big bank yet but having 2M of FDIC insurance at 4% APY savings with direct deposit set up is really good in my opinion. They striving to get your money right not like all these other banks.

@gators-rock-tim-t9247 Жыл бұрын

b/c sofi puts your money into different banks.

@lrx54 Жыл бұрын

I worry, the banks offering the best rates, need the most cash because they are illiquid. Or prone to failure. That’s my 2 cents.

@shvideo1 Жыл бұрын

I opened a 14 month CD at our primary bank with an APR of 5.0%, FDIC insured of course. Why don’t you mention CDs and talk about I bonds at the end of you video? Thank you for this great information.

@calminacrisis126 Жыл бұрын

Treasury Bills seem to be a great option at the moment. Looks like 3 month hit 5%. You don’t have to deal with banks, and local/state tax exempt

@rob_berger Жыл бұрын

Agreed, although a lot of people prefer not to deal with buying T-bills.

@charleswhite3759 Жыл бұрын

@@rob_berger what about vanguard mm at 4,85?

@simondejonge3486 Жыл бұрын

@@rob_berger I believe there's a good way to get around that using bil which is a etf and tax exempt I believe

@YRPomona Жыл бұрын

@@rob_berger why not?

@MENSA.lady2 7 ай бұрын

Even HYSA's pay interest rates below inflation, so compared to normal savings accounts you lose your money slower. Personally I consider Gold a better place for my savings.

@pnkrckmom Жыл бұрын

M1 will have a HYSA soon. 4.5% I believe. I have a bunch of cash in their checking account at 3.3% for now.

@MikeB4028 Жыл бұрын

I wonder that’s gonna happen. Been waiting for awhile

@pnkrckmom Жыл бұрын

@@MikeB4028 I don't see why it wouldn't. I guess we'll see.

@thegrimmperspective Жыл бұрын

Some of these major savings accounts will not allow a teenager to setup an account. Where can a teenager find the highest savings rate?

@jayzechab Жыл бұрын

Chase actually has a new product with high yield savings

@antony5365 Жыл бұрын

ROM - SpaceKnight?! You have fine taste in comic books, Sir.

@DanielSantaCruz Жыл бұрын

I would think that Citi, with their Accelerate Savings account, would count as a "big bank" that's not giving super low rates? They are currently giving 3.85%, which is higher than 4 of the 5 "big banks" you mentioned.

@russellbee311 Жыл бұрын

I have that also! I’ll leave it open with $1,000 in it and transfer the rest to the highest yielding account. Then come back when needed.

@steveh6062 Жыл бұрын

Steve H I've been a Citi CC customer since 2016, putting through about $25,000 charges a year. Last June I did two ACH transfers into their high interest savings account from a mid sized US based bank. Citi marked my new savings account deposits as fraudulent and would not discuss it over the phone. And shut down all online access to even my credit cards. They wanted me to come into a branch to validate my identity. The closest branch was 500 miles away. I googled my error code and found it is common for Citi to do this. It took until Feb 2023 for me to get my money back with the help from the US based regional bank. I will never use Citi again!

@JJbike Жыл бұрын

I have issues putting money into a bank i have never heard of.

@billtraylor7373 Жыл бұрын

The only issue with high yield savings and money market accounts I'd they may change at any timr

@alexeamc7 Жыл бұрын

vio bank 4.77 citi bank 3.85

@johnkidwell4866 Жыл бұрын

As of today Marcus is 3.90% ( current depositor)

@nicolasurioste1752 Жыл бұрын

Ponce Bank APY 5.05%, Western Alliance Bank APY 5.05%

@kodeyhammer6705 11 ай бұрын

I’m sure you know by now, but M1 Finance at 5% with M1+

@ElizabethMcDow Жыл бұрын

Western Alliance today 5.10%

@rickchandler2570 Жыл бұрын

I don’t understand rates like this with UFB. I have an account with them and the rate is 3.16%. Wonder why I’m not getting the 5.02%?

@kristinb5121 Жыл бұрын

I wonder about the health of these institutions. Have you done a video on how to determine this? Why are these institutions offering CD rates. Are they over-extended?

@henriquethielen1279 Жыл бұрын

Bank Of America ML offers a FDIC insured deposit that yield 4.5%, minimun 100k deposit, daily withdrawals allowed

@jepicza Жыл бұрын

That's what I have...

@elvispresley3234 Жыл бұрын

I cannot find the BofA you mention anywhere. Do you have a link?

@GDUBLEY Жыл бұрын

Which BofA/ML Account is this? I am not aware of it and cant find anything close to that yield

@heathmower9396 Жыл бұрын

It's called Preferred deposit. A Merrill Lynch product. Minimum 100k to start. 4.5% currently. Will fluctuate up and down with Fed funds rate.

@elvispresley3234 Жыл бұрын

@@heathmower9396 thanks

@SallySamsara Жыл бұрын

But can't these rates go lower over night?

@j.wilkerson1905 Жыл бұрын

Go Bucks...

@nerdlife206 Жыл бұрын

HSBC is offering 4% if you have a relationship with them. Need to direct deposit at least $5k per month to qualify. But, the account has some nice features.

@wagu7003 Жыл бұрын

That's not very good

@dontdoxmebro Жыл бұрын

Betterment offers 4.85 no fee no minimum and unlimited deposits and withdraws via ach. So if you need your money may take 24-48 hours only con I can think of

@HispanicAt7heDisco Жыл бұрын

Hey Rob, you're incorrect about Citi bank. They're beating most of the banks you mentioned at the beginning of the video, with a 3.85% APY in a High-Yield Savings Account. Still way lower than your top contenders though. Thanks for the video

@steveh6062 Жыл бұрын

@lag3432 Жыл бұрын

You are wrong, I've been getting 3.85 from CITI for some time now. Check out thier accelerate savings account.

@brownmamba Жыл бұрын

This is fantastic. Are these locked in or do they change month over month? Also are t bills better for dry powder

@rob_berger Жыл бұрын

Savings account rates can change at any time. A very good point. If you want a guaranteed rate for a specific period of time, bonds and CDs are a better option.

@galenfowler8453 Жыл бұрын

Vanguard is paying 4.50% on their saving account

@dane5167 10 ай бұрын

Western alliance is 5.31 apy

@CAM-fr8zp Жыл бұрын

UFB customer support sounds sketch! called to ask some questions and their support team is not very reassuring

@5rameshkanna5 10 ай бұрын

Evergreen Bank Group is providing HYSA at 5.25% APY and no minimum balance to maintain. where as UFB direct needs 5K balance to receive the same 5.25% APY other wise 0.25% APY as of now.

@simondejonge3486 Жыл бұрын

What do you think about Vanguard's money market account with the yield at 4.8 percent. Plus you don't have to worry about a bank crashing.

@jblondin1980 Жыл бұрын

These accounts are not FDIC insured. What you are talking about are money market funds, not accounts. I personally like them currently. They are stable, relatively safe, and adjust daily. No need to constantly switch banks. They are not FDIC insured thou....they are investment vehicles.

@simondejonge3486 Жыл бұрын

@@jblondin1980 I mean your not going to loose money in Vanguard's money market fund unless the us defaults on debts and if that happens we will have much bigger problems. Look what just happened to credit suisse and frc. Not saying all banks are not safe I think most are but like Warren buffet said today we are very likely to see more bank failures in the near future.

@jblondin1980 Жыл бұрын

@@simondejonge3486 like I said, I like the fund...but saying "your not going to lose money" is foolish. You have to read the fund documentation, and understand what you are buying...most people looking for savings accounts want the insurance.

@simondejonge3486 Жыл бұрын

@@jblondin1980 Yea I didn't say you couldn't loose money. Both a savings account at a regional bank and a money market fund have a risk to them both small. But in my opinion the odds of the U.S defaulting on debt is much lower than a small regional bank failing. I personally feel more comfortable with something invested in government securities, rather than a private bank doing who knows what with money.