We have a money market at a local bank paying 4.8%
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I have a CD that I've used as collateral since 2002. Does it make money, not really. I'm able to borrow against it for 1% above what the CD draws in interest. I've bought motorcycles, vehicles, land, horse trailers, tractors all using it as collateral. If I was smart I could probably invest that money in something else for a bigger gain but years ago I had a short experience with the stock market & loosing my arse, I stick with a sure thing.
Who’s your savings account through? If you don’t mind if I ask.
What local bank? If you don’t mind if I ask.
All America bank, in Mustang. They pay over 5% on checking, Nice people too. Check their web site.
CD's paying less than inflation = return free risk... a guaranteed loss.
No money I ever put into any account beyond my wallet or my own expertise never kept up to nor exceeded inflation. My best investment has always been in me, for me.
Take from that what you will.
Woody
Take from that what you will.
Woody
the risk free rate of return will be treasuries. banks will issue you a cd and buy treasuries to cover or loan out. the treasury rate i think is about 5 percent on a two year. the reason banks are failing is because the depositor is figuring this out and moving their capitol into an environment that will give a return. when the bank gives you your money they have to sell assets at a loss right now to cover the other 10 dollars they loaned out to every dollar you take out. the treasury is inverted right now and will probably correct some time??? this condition always always preceeds a recession. so get ready.
Current treasury rates and climbing. Especially after the stellar jobs report last week. If the fed can’t stop job growth and kill a bunch of jobs, rates will continue to climb. The .gov wants job losses to cool inflation.
