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Updated over 5 years ago on . Most recent reply

User Stats

158
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117
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Larry Alexander
  • Fort Collins, CO
117
Votes |
158
Posts

Should I Open a Savings Account - Where?

Larry Alexander
  • Fort Collins, CO
Posted

I have a savings account earning 0.1% at a national chain bank that just continues to pi$$ me off! I want to close the account but don't know what to do with the money. I saw 1.9% savings account from Credit Karma, 1.5 somewhere else I can't remember, or should I park or use the money in some other way? Maybe open a brokerage account?

Counseling and advice please.

Most Popular Reply

User Stats

1,557
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1,142
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Jacob Sampson
  • Investor
  • Topeka, KS
1,142
Votes |
1,557
Posts
Jacob Sampson
  • Investor
  • Topeka, KS
Replied

This is the downside of low interest rates.  You can't get interest on your savings.  I would look into an online bank as you mentioned or look to a local credit union.  The credit unions are often able to give better interest rates.  No matter what, though, it aint gonna be that exciting.

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