Thanks NeverAgain, for the specifics, and thanks to the other new responses above!
I will look into this Vanguard, and consider further whether to keep it where it is, roll it into a credit union cd, or put it in a money market fund that might be risky but hopefully would perform better in the long run.
One more question on a related topic:
So cd's only are paying 2% or so right now. Then how can my bank, bankofinternet.com, continue to pay 3.45% for a "regular savings" account. In fact, they are currently paying 2.6% on their no fee checking! Yet their cd's are "only" paying 3% on a 5 year cd. I have been banking with them for a couple of years and highly recommend them for checking. Free checks too.
The one hang up is that you have to mail your deposits or have direct deposit, you cannot deposit into an local atm machine.
But anyway, how is it that they can pay so much higher interest than most other banks on a savings and checking account while IRA's and cd's at other banks are only paying 2% or so? Isn't it supposed to work such that them holding on to your money for a guaranteed 5 years or so, or for many years as in an IRA, supposed to pay more interest? How is it that BofI can pay higher interest on just a regular savings where you can take your money out any time????
I will look into this Vanguard, and consider further whether to keep it where it is, roll it into a credit union cd, or put it in a money market fund that might be risky but hopefully would perform better in the long run.
One more question on a related topic:
So cd's only are paying 2% or so right now. Then how can my bank, bankofinternet.com, continue to pay 3.45% for a "regular savings" account. In fact, they are currently paying 2.6% on their no fee checking! Yet their cd's are "only" paying 3% on a 5 year cd. I have been banking with them for a couple of years and highly recommend them for checking. Free checks too.
The one hang up is that you have to mail your deposits or have direct deposit, you cannot deposit into an local atm machine.
But anyway, how is it that they can pay so much higher interest than most other banks on a savings and checking account while IRA's and cd's at other banks are only paying 2% or so? Isn't it supposed to work such that them holding on to your money for a guaranteed 5 years or so, or for many years as in an IRA, supposed to pay more interest? How is it that BofI can pay higher interest on just a regular savings where you can take your money out any time????
A NEW START!!!
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