I have $40,000 in savings that I have just put in a savings account with my regular bank, not aware that I could be earning considerably more money on it. Which course of action will help me benefit the most from this?
I decided to invest around $45k in a Discover HYSA. Right now, it’s paying 4.3. I pay around $165-200 per month in interest. Currently, I am at $49k. In addition, I received a $200 sign-on bonus. I’m quite satisfied with Discover.
Look into high-yield savings accounts or low-risk investments like CDs or Treasury bonds for better returns.
Put the money into a Marcus or Wealthfront HYSA, both of which offer 5.30% interest with a referral. I would link but may be prohibited, so if you need a link, I can email you referrals to any company. Also, discover has a bonus offer, so look into it. Once you obtain the bonus, you can move money around.