Savings rates aren’t even hitting 3%: where is everyone putting their money?
I opened my banking app to look for special savings account offers, and they’re all just barely over 3%. And that’s only if you meet all the bonus conditions.
Parking accounts are only in the 2% range. I’m wondering if I should just put everything into ETFs, but the market has been scary lately, so I can’t bring myself to do it.
Where does everyone keep their cash-like assets?
7 answers
Agreed. These days, all I hear is that even 3% special deals have people lining up lol
I split my money half and half between a parking account and a CMA. I keep the parking account with Toss Bank and the CMA in a brokerage RP-type account, and I feel more at ease than putting it all in one place. I divide it up so that money I might need urgently goes in the parking account, and money I won’t use for a few months goes in the CMA.
Well, saying the market is scary these days and then putting everything into ETFs doesn’t really add up. If it’s a cash-like asset, I’d think preserving the principal should come first.
Last year I had the same dilemma and just dumped everything into ETFs — hit -15%, lost my mind, and cut my losses. Now I just park six months' worth of living expenses and put the rest in gradually with dollar-cost averaging. The conclusion: not checking your portfolio often is the real answer. Currently living with the app deleted lol
Where's the low 3%? No matter how hard I look, I only see the 2% range. If you're talking about preferential conditions, doesn't the effective rate go down even more?