And There It Is

I never thought it would happen but here we are. Ally’s interest rates for their savings accounts have officially hit 3.0% and Marcus by Goldman Sachs has a 12-month CD that is 4%. Both of these are higher than the interest rate on my primary mortgage. Honestly, I am just shocked. I never thought my mortgage interest rate would be less than my savings interest rate. I certainly never expected CDs to ever be at 4%. If you have a good chunk of money that you can part with for 12 months, this is your time. Otherwise, you can always have it making at least 3% in a savings account which is still pretty awesome.

All in all, we’ve got some options for people who have some cash on hand and that’s great.

Do you prefer cash on hand or having it all in stocks/index funds?

Feature Photo by Joey Kyber on Unsplash