MemberSince99 wrote:It's not so much the low interest that would bother me though that's certainly a pathetic rate by any standard, but also the fact that above 100k the FDIC won't insure if the bank can't or won't make good on the money and thus it's not insured over 100k and they could end up eating that (though no doubt even if that should happen the CEO would get a stunningly massive bonus for his great efforts as always). That would bother me even more than the tiny rate of return on the money because at that point that money is just like a 401k - an investment with no guarantee and at a terrible rate of return at that.
it's 250k per social per bank, which is why people who keep that much liquid will spread it around.. rare to see someone who holds millions in a bank account, but that happens too when their portfolio exceeds that by however much times they're comfortable with having it invested..and yeah they keep it in an account that earns only .25, .30 and they don't care.
there are investments where the principal is guaranteed, and they're insured through other means--i believe life insurance works much this way, including places like transamerica, along with big banks.
i have seen someone's work 401k where they get matched (i'm guessing this is where the perk comes in) but they're yielding a .02% overall..i couldn't believe it, it was holding almost 200k and yet the amount its earning is less then a savings account
didn't do much except eat with the family and hung out with friends, picked up a much need ipad ;P and i didn't even fight the crowds for that, no point.
gleefully waiting for the after christmas sales.