Where do you park short term cash reserves?
High yield savings accounts (e.g., Synchrony, CIT Bank, GS Bank, etc.) vs. tax-exempt money market fund (e.g., VCTXX)? Or any other ideas where it is easily available yet not depreciating?
What about non-citizens.. most of these require you to be a citizen
I’ve not seen such a clause except on 1 that I don’t remember the name of.
GS Marcus account does not. I don't know what they would do if you left the US though. I also have an Ally.com saving account, not using it currently since GS has as higher rate but I did confirm with Ally that if I left the US and became non resident that I would be able to keep that account.
Capital one 360 savings account
I have one month expenses in a Goldman Sachs Marcus account and another eight months expenses in a Vanguard short term bond fund. I can get the GS money in a couple of business days and the Vanguard money in about a week.
+1 Marcus
I think a lot of people here do Ally.
You can compare at bankrate.com
Alliant Credit Union
I have a glass jar for change next to my dresser.
I use the center arm rest storage in my car. I always mean to buy coffee with it but I never do so I have a small fortune there now.
1.6% high yield savings at dollarsavingsdirect.com.
Beware, that's an Emigrant Bank division. They have several. They pump one for awhile until it gets lots of capital and then start cutting the rate hoping it doesn't move. Then they jack up the rate at as different division and just rotate be their scheme between them. They only remain competitive for a year or two then suddenly it's a low rate. EmigrantDirect and MySavingsDirect are two others they operate. You need to keep an eye on your rate and be prepared to move when it slides.
Correct, i have accounts at all three and regularly move funds between them as they do this. I just finished emptying the mysavingsdirect fund.
Discover savings account.
What rate do you get?
Currently it’s 1.4. It varies though. https://www.discover.com/online-banking/savings-account/