Which High Yield Savings account for cash?

[Jack B.]

The cash pile (well digital that is) is adding up. Who here knows whether Barclays or Ally bank are a better way to go for high yield online savings account?

Barclays is 1.85% per year and Ally is 1.8% for Ally bank. There are some other banks like Northfield that offer 2.25% but they are not as well known so I don't trust them. Where to keep your money for highest yield on the cash while still having it available to jump on deals?

Also, do you spread your money out to different banks, each up to the 250K FDIC insurance limit?

[Account Closed]

Permanent life insurance with a mutual insurance company is one of the most efficient vehicles to warehouse savings and cash from a liquidity and asset positioning standpoint. 

It has been the vehicle of choice for liquidity in advanced planning strategies for Family Offices.

You have use, full control and access to your money through a credit line established against your cash value. Your money is guaranteed, there is guaranteed growth and access to dividends, the growth and distributions are tax-free through well-executed strategies. It also provides a death benefit for efficient wealth transfer.

It's a powerful SAVINGS vehicle, not an investment.

The key is to have as part of your strategy is efficiency for your savings and asset positioning and getting efficient income streams. Permanent Life Insurance, more specifically a dividend paying whole life insurance policy with a mutual insurance company and Real Estate can be a powerful combination to achieve all of this.

Real Estate, business, insurance, stocks, and commodities are all just tools, its all about strategies and how you use the tools. They can all be horrible and a nightmare or help you achieve your overall objectives.