{ "media_type": "text", "post_content": "Hey guys- what are some high yield savings account you recommend? Looking to put 8-15k aside.", "post_id": "616855da9fc9a8002c10a51b", "reply_count": 19, "vote_count": 3, "bowl_id": "553769a790f5eebe1d2a0f92", "bowl_name": "Finance" }

Hey guys- what are some high yield savings account you recommend? Looking to put 8-15k aside.

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Marcus by GS

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And Capital One 360 Performance Savings

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FDIC is the most expensive insurance you can buy. Depending on your willingness to learn, staking stable coins in cryptocurrency. I think Binance is around 3.5% yield. You can get better but I like the larger bame brand exchanges that are regulated.

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I get 8% with the winklevoss twins’ Gemini. Their stablecoin is offering that right now. They only loan to the 3rd party Genesis Global Trading, one of the top crypto asset companies

S&P 500?

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Not worth it if you're looking for returns. Do it if that's your emergency fund for eventualities. Besides that, is a no-no

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I mean just have a 6 month expenses runway in savings. Everything else into the market, you are going to lose money on a FV basis to inflation at this time

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You have to put a fair amount of risk out to make any decent yields lately. BBB credit ratings, short term debts, debentures, that sort of thing. Not that it's an appropriate solution for all people, but Treasuries and safer debt instruments are not keeping up with inflation due to low federal interest rates. Unfortunately, it's not a straight-forward question, and there's a lot more to know to provide a suitable recommendation. The days of good CD rates, money market fund returns, and the like are gone and probably will be for a very long time.

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Yotta maybe for FDIC insured. Slightly tiny higher+testing your luck. I can send you an invitation link so both of us can get free tickets if you’re interested in. Other cryptocurrency accounts 9% but you can be completely wiped out. No FDIC.

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Can you point me in the right direction to learn more about Gemini / Genesis?

Thank you for all the suggestions- you all certainly gave me a lot of options to consider. For further clarity- this is my 6 month emergency stash so I do need this to be fairly liquid

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For your 6 months of savings which I would size at 6 months of your cost of living, can be kept in savings. Frankly even putting it into /brokerage securities is still quasi liquid as you can sell them, they just settle around T+2 days so not instant liquid.

Just don’t…. Even at the highest yield savings account, still have to make up well over 2% to keep up with inflation, may as well drop into an index fund.

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The highest yield I have seen in FDIC insured savings account is like 0.2% right now. Are you looking for products that protect the principal?

Convert to USDC and earn 10% for doing nothing. Total no brainier.

Ally Bank is a good savings account with Zelle for instant sending

I’ve put my cash with GUSD and use Gemini Earn

Voyager USDC returns 9%. And it's a stable coin. No brainer.

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