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#11
03-14-2007, 11:16 AM
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Re: $200,000
No. Go with countrywide financial. 5.4% and its FDIC insured.
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#12
03-14-2007, 11:35 AM
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Re: $200,000
[ QUOTE ]
I think a big question nobody asked is risk tolerance. Are you comfortable losing money? Will you need all $200k at the end of the year? [/ QUOTE ] I think people assumed from the tone of the OP that they are very risk averse with this money. Putting the money somewhere where it is possible to lose it would be gambling if it was only held for 1 year. Over longer periods the volatility would be reduced.
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#13
03-14-2007, 11:45 AM
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Re: $200,000
I know there are higher yields available, and appreciate all the comments about where to find the best rates. It's just because this is a first time investment that a risk aversion exists. Time will tell if it's worth switching into a different type of account, in the meantime, he wants immediate access to his money if it becomes necessary.
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#14
03-14-2007, 11:51 AM
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Re: $200,000
[ QUOTE ]
It's just because this is a first time investment that a risk aversion exists. [/ QUOTE ] This is natural. By getting educated about investing you'll feel more confident and find it easier to put money in the market.
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#15
03-14-2007, 12:14 PM
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Re: $200,000
[ QUOTE ]
[ QUOTE ] It's just because this is a first time investment that a risk aversion exists. [/ QUOTE ] This is natural. By getting educated about investing you'll feel more confident and find it easier to put money in the market. [/ QUOTE ] Furthermore, I think that there are many more variables to consider when establishing the best program for $200,000. I believe the OP is rate shopping for which the other responses have given her appropriate information, but the wisest place to put the money is not necessarily where it will be FDIC insured and yield < 5%.
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#16
03-14-2007, 01:17 PM
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Re: $200,000
Keep in mind the interest you earn from CDs and savings accounts is taxable. A 5.x% yield sounds good but a large chunk of it could get gobbo'd up in taxes. Depending upon your federal tax bracket and especially if you live in a state that has a state income tax, you may want to consider a tax-exempt money market fund.
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#17
03-14-2007, 04:20 PM
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Re: $200,000
[ QUOTE ]
Keep in mind the interest you earn from CDs and savings accounts is taxable. A 5.x% yield sounds good but a large chunk of it could get gobbo'd up in taxes. Depending upon your federal tax bracket and especially if you live in a state that has a state income tax, you may want to consider a tax-exempt money market fund. [/ QUOTE ] thanks Tom, the thought had occurred to me, but dang it, I really wanted to keep this simple [img]/images/graemlins/frown.gif[/img] Seriously, I'll check into that, and thanks again.
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#18
03-14-2007, 06:53 PM
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Re: $200,000
Cubs,
Clean out your PM's...I wanted to ask you more about the airline miles. Thanks.
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#20
03-14-2007, 07:15 PM
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Re: $200,000
Does the FDIC insure accounts for more than $100k? I was under the impression that this was the max they would insure per individual account.
Edit: According to Wikipedia, the limit is $100,000 per depositor per bank: The FDIC provides deposit insurance which currently guarantees checking and savings deposits in member banks up to $100,000 per depositor.
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