Wealthfront vs Marcus HYSA
Wealthfront have better %, but I found some negative reviews on consumer affairs, so I’m a bit scared transferring my money there. I’m planning to send 120k to HYSA account, open to any recommendations
I wouldn't go with Marcus , their transaction monitoring sucks and fraud team is a scam. Had the worst experience of my life and lost so much of my savings
how you lost money?
Please elaborate, you lost money? That’s scary
I have been using wealthfront for many years now. I never had any issues moving money in and out.
amex hysa for me since i have amex cards it’s convenient and interest rates are similar
1 month t bill gives you 4.5% Unless you need money in 30 days, there’s literally no reason to use HYSA. I have around 10k in HYSA for emergency, and put the rest in t-bill (with auto renewal)
Where do you buy it
T bill for 30 just 30 days?
VMFXX, yields 4.6% APR currently, beats any non-promo rate at any online savings account right now that I know of. Since it invests in treasuries, it's as good as an FDIC guarantee. Buy/sell it for free at E-Trade.
Is the referral rate only valid for 3 months?
It gives you extra 1% for 3 months for every person you refer
Is there a reason why Vanguard cash plus account is not your list. I recently opened one. 4.1% APY right now. This is FDIC insured vanguard brokerage account and you can use this like a normal checking account. They don't have a debit card though
Is it taxed differently in comparison to HYSA? Can I take it out anytime to reinvest?
Yes you can take it out anytime. Good point about the interest. I THINK it's 1099-INT since it's not tied to a fund.