What’s a better option than a 5.5% HYSA?
I never earned this much interest risk-free before. Is there a way to outperform this and maintain the risk free nature offered by a HYSA? I’m currently on Wealthfront HYSA and want to know if anything else out there is 6% or higher. If you are interested to join Wealthfront with 5.5% feel free to DM me for an affiliate link (not appropriate to share on the original post) #finance
Which bank
Okay, Bhargava.
Why is HYSA a risk? Just take a good bank and go with it. CDs and treasury bonds are better btw, and state tax exempt (if you are in a high tax state)
Only Tbills is state tax exempt not CD
wdym by not as much risk. HYSA is probably the absolute lowest risk option out there
I didn’t mean to say HYSA is a risk. I meant the alternative not carrying enough risk to make it not worth it over the HYSA despite a higher yield
HYSA won’t forever be at 5%. Wealthfront’s HYSA rates were near 0% from 2020 - 2022. After using up my emergency savings from it, I didn’t put anything into it until it started going up with the federal rate increases. Basically, don’t keep anything other than emergency savings (6 months - 1 year worth of expenses) in an HYSA.
Raveena, you know it shows your name there, right?
😂
Are you aware of high dividend stocks? They are not that risky with much higher stable return.
Dividends stocks is way more risk than a savings account. It's just slightly lower risk than VTI.
Less than 50k is ok. I have some in the portfolio and they constantly milks 15%-20% cash in the past . few years. Stock prices almost don’t change. I don’t sell them for profit anyway.
A 30 year t bill that yields 5%
Marcus with referral. DM me
For short term, 4/8 week Tbills. For non-qualified funds and long term, check out cash value life insurance for tax deferred growth and tax free distributions using loans. DM for more info.
Who gives 5.5 HYSA without referral?
I am on the referral bonus. I forgot to mention that
There are banks that give 5.2-5.4 without referral