[Michelle]

Yep, I use Marcus by Goldman Sachs.

[Nicole]

Yes to HYSA as the funds are readily available. Is there a reason so many of you use Ally? I was planning to open a new account with Vanguard…

[Amanda]

Huge “it depends” to that. Me? No. My tax on ordinary income is like 25% so it’s much better to do a tax exempt money market than a HYSA.

[Kathy]

I have Capitol One HYSA 5.10% It took me a long time to to transfer $5000 out of my brick and mortar bank. It’s been about 6 months and no issues at all.

[Barb]

Yes, most are FDIC insured, Jenuis Bank was paying 5.25%.

[Darla]

That’s what we do for our large emergency fund.

We have Ally. Rates are about 1% lower than other HYSA but I’m comfortable with their rating, account features, and their customer service.

[Kiersten]

Yes. That’s what I did. It took me years to finally do it and I chose Ally because it’s FDIC insured and has great reviews and I’ve had a couple of friends have good experiences with them. It was super easy to open and they’re super easy to work with and I get a WAY better interest rate now.

Totally recommend.

Preferred: How to invest $50k in real estate for rental income without spending excessive time and money?

[John]

Fidelity is the best. They have an automatically invested money market fund inside their brokerage that pays you over 5%. That said, I would try to lockup a little of the $10k in CDs because these rates are attractive and can disappear mighty quickly.

[Leslie]

I use sofi so it can still be liquid. That can be the emergency or new car fund or whatever you may have happen. I use the interest to go to a specific goal like vacation or house repair fund.

[Molly]

We use Betterment. I’ve been with them for almost 2 years and wish I did it sooner. Currently they’re at 5%. I’ve had to transfer larger amounts out to pay for a kitchen remodel and it took about 36 hours from the time of my request to being available in my checking account.

[Lauren]

I have a HYS with Ally, and went ahead and got a free checking account with them as well. I keep a token amount in the checking, but can make instant transfers if I need access to what’s in savings.

Pop on the app, transfer from savings to checking, and swipe my debit card or write a check.

It’s worked out quite well for me for many years now.

Appropriate: How can I find tax incentives for multiple investment properties?

[Kendra]

I don’t have 10k lol, but I use Ally as my actual bank for what little I do have. It’s a good bank, I’ve never had problems.

[Nancy]

Absolutely! I have been using virtual banking since 2000. I now use Ally. Just remember, the money won’t be IMMEDIATELY accessible, you’ll have to transfer it back into your “sticks & bricks” bank, and it takes a day or two.

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