3% FDIC insured savings...too good to be true?

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
Post Reply
Topic Author
oldlongbeard
Posts: 85
Joined: Tue Oct 23, 2018 11:07 am

3% FDIC insured savings...too good to be true?

Post by oldlongbeard »

Just set up my account at HMBradley....new on line bank. Paying top tier interest rate of 3%, and they are encouraging saving! (Up to $100k)....Seems like a good place for an emergency fund. Any thoughts welcome. I'll keep the group informed of my experience.
Greg in West Mitten
User avatar
greg24
Posts: 3941
Joined: Tue Feb 20, 2007 10:34 am

Re: 3% FDIC insured savings...too good to be true?

Post by greg24 »

There are a lot of catches to make it difficult to earn a full 3%.

https://www.hmbradley.com/product
Once you set up a monthly direct deposit with us, you’ll start your journey in Savings Tier 3 (1.00%). Each new quarter you’ll earn interest with an APY rate based on your savings – no matter if you save $10 or $10,000.

Save 20% of your deposits, and you’ll enjoy 3% APY. Learn more about our Savings Tiers and qualifying terms here. Some restrictions apply.
Be sure to catch this:
Savings Tiers are subject to change.
000
Posts: 3294
Joined: Thu Jul 23, 2020 12:04 am

Re: 3% FDIC insured savings...too good to be true?

Post by 000 »

As long as it checks out against the FDIC Bank Find tool, then I would not worry about it.

Of course tomorrow you may open up your e-mail inbox: "Valued Customer, we are writing to let you know of an upcoming rate change to our accounts..." and have to jump back info the frying pan. That's the risk of a demand cash account.
User avatar
whodidntante
Posts: 9268
Joined: Thu Jan 21, 2016 11:11 pm
Location: outside the echo chamber

Re: 3% FDIC insured savings...too good to be true?

Post by whodidntante »

My prediction is it won't last since I can borrow money for much less than 3% and I'm not really anyone special.
User avatar
nisiprius
Advisory Board
Posts: 42226
Joined: Thu Jul 26, 2007 9:33 am
Location: The terrestrial, globular, planetary hunk of matter, flattened at the poles, is my abode.--O. Henry

Re: 3% FDIC insured savings...too good to be true?

Post by nisiprius »

Assume this is not a scam that involves attending some kind of seminar to learn about some non-bank investment product. Those were rife a few years ago but I won't try to dig out the details if this isn't that kind of deal.

I've accepted deals like this three times. Every time, the deal was straight in the sense that I was careful to jump through the hoops and the bank did what I expected it to do. But the deal was short lived. And it was ramped down gradually, in a tricky sort of way, with gradual cuts in the interest rate and the amount of money on which they would pay it, so I kept saying "oh, well, it's still better than the other bank, I'll just let it ride."

The big secret seems to be that there really are many ways to score $200 to $500 in "free money." That is, it is really worth that much to them, on the average, to get people to open new accounts. In other words, it's probably not too good to be true, because it is probably not anywhere near as good as it looks.

This one seems to be a different kind of deal than I've seen so I'm not sure just where the gotchas live. Businesses have a thousand tricks for making a tiny discount look big, or a tiny benefit look big, and I imagine this is something of the sort. The rules for moving between tiers are complicated. What does "saving 20% of it" mean?

Can you simply take $100,000, and plunk it in there for a year and take $103,000 out? I doubt it. It might be worth phoning them and asking that exact question that way, and then follow up by asking "Well, if I put $100,000 in, what exactly would I need to do in order to earn $3,000 in a year?"

In theory you can make worthwhile amounts of money on bank deals if you make a serious hobby of moving accounts around, I guess, but I decided it wasn't worth the effort for me.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
User avatar
nisiprius
Advisory Board
Posts: 42226
Joined: Thu Jul 26, 2007 9:33 am
Location: The terrestrial, globular, planetary hunk of matter, flattened at the poles, is my abode.--O. Henry

Re: 3% FDIC insured savings...too good to be true?

Post by nisiprius »

OK, I went ahead and asked them. Here's a chat exchange. I'm going to anonymize the name of the person I chatted with.

Here are two gotchas, besides of course, "subject to change." The second gotcha follows a familiar pattern: as best they can, they want to be sure that you have made them your main bank.

1) The interest rate starts at 1% and doesn't get bumped to (potentially) the next "tier update," January 1st, April 1st, July 1st, and October 1st.

2) To qualify, you must be making monthly direct deposits, and...

What qualifies as a direct deposit?
For our accounts, we define direct deposits as those deposits made by the customer’s employer or a federal or state government agency or retirement benefits administrator. These generally include payments made by corporations and other organizations. We do not consider deposits to an account that are made by an individual using online banking or other payment provider such as PayPal or Venmo as direct deposits.
I think there is some question about just how they decide what qualifies. Despite what the rep said, I am not completely sure that Vanguard is really a "plan administrator" of my personal, not-work-related rollover IRA. Whether HMBradley would be likely to check this or care much about it, I don't know.

[Nisiprius]
If I open an account, put in $100,000 the day I open it, then do nothing else for a year, can I then take out $103,000?

[HMBradley representative]
Hello [Nisiprius]. Thanks for contacting us. You can withdraw your funds at any time without fees or penalties.

[Nisiprius]
I'm trying to understand the tiers and the interest rates.

[HMBradley representative]
However, it's worth mentioning that your account will start in Savings Tier 3 (1% APY) when your first direct deposit posts.
And then have the opportunity to change Tiers on the next Tier update.
When does my Savings Tier update?
https://faq.hmbradley.com/hc/en-us/arti ... er-update-
Here's an FAQ article that describes how our Savings Tiers work in more detail: https://faq.hmbradley.com/hc/en-us/arti ... ngs-Tiers-

[Nisiprius]
So, I earn 1% until the first quarterly update.
At that point, have I saved 100%? Do I update to Tier 1?

[HMBradley representative]
That is correct.
If you save 100% of your quarterly deposits in the current quarter, and have 1 direct deposit per month, your account will be in Savings Tier 1 on the next Tier update.

[Nisiprius]
The direct deposits can be for any amount, but they need to be from " the customer’s employer or a federal or state government agency or retirement benefits administrator," correct?

[HMBradley representative]
That is correct.
We do not have a minimum direct deposit, we simply require that you direct deposit at least once a month in order to qualify for our Savings Tiers.

[Nisiprius]
I have a rollover IRA at Vanguard. It is a personal account, not a 401(k). I have to take RMDs from it. Vanguard pays them automatically, monthly, by direct deposit.
Would an automatic RMD from a rollover IRA (retirement account), made via direct deposit, qualify?
[HMBradley representative]
Yes, deposits from the a retirement administrator would qualify as direct deposit.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
MrJedi
Posts: 343
Joined: Wed May 06, 2020 11:42 am

Re: 3% FDIC insured savings...too good to be true?

Post by MrJedi »

This one is on my radar, but I'm going to let the dust settle for a year or so to make sure it's not just a teaser or bait and switch.

It seems you can game the account a bit if your direct deposit is flexible in splitting up your paychecks. My plan was to move funds in and then direct deposit $5 from my semi monthly paycheck to maintain the savings rate.

My plan then is to treat it like a CD and not count on withdrawing anything unless needed. If you need to withdraw a significant amount, it's kind of like a CD penalty, but instead it penalizes potential future interest, not past interest already earned. I will move funds out during the interest penalty period and then re establish the savings rate at the next quarter.

I have doubts this is sustainable, so I'm waiting it out a bit as I usually do when chasing bank rates.
andypanda
Posts: 539
Joined: Sun Nov 12, 2017 9:11 pm
Location: Richmond, Virginia

Re: 3% FDIC insured savings...too good to be true?

Post by andypanda »

" (Up to $100k)"

Too bad there's a limit or I might consider it. And there are too many hoops to jump through. I have a hobby and it's boating/fishing, not jumping through hoops. I'm 70 and my wife says I'm not as grouchy as I used to be eight years ago when I was still working. I wonder. :annoyed

:mrgreen:
XacTactX
Posts: 66
Joined: Sat May 11, 2019 5:46 pm
Location: Southern California

Re: 3% FDIC insured savings...too good to be true?

Post by XacTactX »

I've been using credit unions and banks with high yield checking accounts since the summer of 2015 and I've always received around 3% APY. The only caveat is that some of them might change their terms and lower the interest rate. For example Consumer's Credit Union was giving 4% APY and it decreased to 3%. Orion FCU had a 4% interest rate then it decreased to 2%. Sometimes the requirements to earn APY become more strict, you might have to do more transactions with your debit card or something like that. I don't have any experience with this bank but I've used four banks/credit unions and for the most part I've been satisfied
SMLF | ISCF | EMGF | LendingClub | Cash
uclalien
Posts: 89
Joined: Tue Dec 23, 2014 9:13 pm

Re: 3% FDIC insured savings...too good to be true?

Post by uclalien »

XacTactX wrote: Fri Jul 24, 2020 9:01 am I've been using credit unions and banks with high yield checking accounts since the summer of 2015 and I've always received around 3% APY. The only caveat is that some of them might change their terms and lower the interest rate. For example Consumer's Credit Union was giving 4% APY and it decreased to 3%. Orion FCU had a 4% interest rate then it decreased to 2%. Sometimes the requirements to earn APY become more strict, you might have to do more transactions with your debit card or something like that. I don't have any experience with this bank but I've used four banks/credit unions and for the most part I've been satisfied
In my experience, the biggest caveat with the higher rate offers is that they tend to be teaser rates with low-limit caps. For anyone with a sizeable account balance, it requires opening too many accounts to make it worth their time. For example, here is the fine print for Consumer's Credit Union.

"Earns you 4.00% APY*** on balances up to $15,000 when you have 12 posted debit card transactions per month, a $1,000 average daily balance, $1,000 minimum recurring monthly direct deposit and eStatements."

That's a lot of work to get 4% only $15,000. Otherwise, you're getting only 0.40%.
User avatar
batpot
Posts: 1206
Joined: Thu Jul 11, 2013 8:48 pm

Re: 3% FDIC insured savings...too good to be true?

Post by batpot »

With this one, you'd have to direct deposit money for 3 months, save at least 20%, then dump your savings in to start earning 3%.

Alternatively, just take the 1% for the first 3 months...already better than many.
However: no guarantee on the rate...it could drop drastically, and I don't think they have to wait for your quarter year anniversary to do so.

Get the credit card, and you earn 3.5% on your cash.

That being said, a CD is 1.05%, so if you got cash, worth a try.

Anybody done it? Give the age of this thread, doesn't sound like anybody signed up more than 3 months ago.
MrJedi
Posts: 343
Joined: Wed May 06, 2020 11:42 am

Re: 3% FDIC insured savings...too good to be true?

Post by MrJedi »

batpot wrote: Tue Aug 18, 2020 3:50 pm With this one, you'd have to direct deposit money for 3 months, save at least 20%, then dump your savings in to start earning 3%.

Alternatively, just take the 1% for the first 3 months...already better than many.
However: no guarantee on the rate...it could drop drastically, and I don't think they have to wait for your quarter year anniversary to do so.

Get the credit card, and you earn 3.5% on your cash.

That being said, a CD is 1.05%, so if you got cash, worth a try.

Anybody done it? Give the age of this thread, doesn't sound like anybody signed up more than 3 months ago.
I signed up with the full expectation that it is a teaser rate. The spread is good enough for me to chase it even for a short time. If they can at least stay competitive with the rate compared to HYSA and CDs, the hoops are easy for me to jump through compared to a reward checking that requires debit card transactions.
SVT
Posts: 359
Joined: Mon Oct 13, 2008 8:56 am

Re: 3% FDIC insured savings...too good to be true?

Post by SVT »

MrJedi wrote: Tue Aug 18, 2020 3:52 pm
batpot wrote: Tue Aug 18, 2020 3:50 pm With this one, you'd have to direct deposit money for 3 months, save at least 20%, then dump your savings in to start earning 3%.

Alternatively, just take the 1% for the first 3 months...already better than many.
However: no guarantee on the rate...it could drop drastically, and I don't think they have to wait for your quarter year anniversary to do so.

Get the credit card, and you earn 3.5% on your cash.

That being said, a CD is 1.05%, so if you got cash, worth a try.

Anybody done it? Give the age of this thread, doesn't sound like anybody signed up more than 3 months ago.
I signed up with the full expectation that it is a teaser rate. The spread is good enough for me to chase it even for a short time. If they can at least stay competitive with the rate compared to HYSA and CDs, the hoops are easy for me to jump through compared to a reward checking that requires debit card transactions.
Debit transactions are easy. .50 Amazon reloads. Takes just a few min to do each month.
MrJedi
Posts: 343
Joined: Wed May 06, 2020 11:42 am

Re: 3% FDIC insured savings...too good to be true?

Post by MrJedi »

SVT wrote: Tue Aug 18, 2020 4:04 pm
MrJedi wrote: Tue Aug 18, 2020 3:52 pm
batpot wrote: Tue Aug 18, 2020 3:50 pm With this one, you'd have to direct deposit money for 3 months, save at least 20%, then dump your savings in to start earning 3%.

Alternatively, just take the 1% for the first 3 months...already better than many.
However: no guarantee on the rate...it could drop drastically, and I don't think they have to wait for your quarter year anniversary to do so.

Get the credit card, and you earn 3.5% on your cash.

That being said, a CD is 1.05%, so if you got cash, worth a try.

Anybody done it? Give the age of this thread, doesn't sound like anybody signed up more than 3 months ago.
I signed up with the full expectation that it is a teaser rate. The spread is good enough for me to chase it even for a short time. If they can at least stay competitive with the rate compared to HYSA and CDs, the hoops are easy for me to jump through compared to a reward checking that requires debit card transactions.
Debit transactions are easy. .50 Amazon reloads. Takes just a few min to do each month.
I do that for 15k of my cash balance. I typically hold about 50k combined of cash and short term bonds. So I'm looking at this to get a better rate for the remaining 30-40k rather than open up 2 or 3 more rewards checking and need to do like 30 more debits. Maybe it's easy but it's a pain to do that many. 10 I can handle.
XacTactX
Posts: 66
Joined: Sat May 11, 2019 5:46 pm
Location: Southern California

Re: 3% FDIC insured savings...too good to be true?

Post by XacTactX »

If you folks are signup up for these high yield checking accounts and you need an easy way to do 10+ debit transactions, you can sign up for Google Pay and sent $0.01 to another email address that you control. The whole process takes me 5-10 minutes each month and I've been doing it since the summer of 2015. I hope this is helpful :happy
SMLF | ISCF | EMGF | LendingClub | Cash
JBTX
Posts: 7120
Joined: Wed Jul 26, 2017 12:46 pm

Re: 3% FDIC insured savings...too good to be true?

Post by JBTX »

Seems like a fair amount of time and patience to get a modest payout. It has to be direct deposit, and it appears it has to build, and it doesnt start at 3%. I'm guessing if you put $5000 a month in, left it there until year end, ending at $60000, you'd probably earn $500-$750 of interest. You'd otherwise earn 1%, or $300, just letting sit in a high yield savings account. So for all that extra work you get an extra $200-$450 in a year. And it is taxable. Definitely not worth it. Bank bonuses are a ton easier and more lucrative.
Last edited by JBTX on Tue Aug 18, 2020 10:34 pm, edited 1 time in total.
MrJedi
Posts: 343
Joined: Wed May 06, 2020 11:42 am

Re: 3% FDIC insured savings...too good to be true?

Post by MrJedi »

JBTX wrote: Tue Aug 18, 2020 7:43 pm Seems like a fair amount of time and patience to get a modest payout. It has to be direct deposit, and it appears it has to build, and it doesnt start at 3%. I'm guessing if you put $5000 a month in, left it there until year end, ending at $60000, you'd probably earn $500-$750 of interest. You'd otherwise earn 1%, or $300, just letting sit in a high yield savings account. So for all that extra work you get an extra $200-$450 in a year. And it is taxable. Definitely not worth it. Bank bonuses are a ton easier and more lucrative.
Interest applies to the whole balance up to 100k. You need direct deposit to qualify for the higher interest but you can transfer other funds in.
JBTX
Posts: 7120
Joined: Wed Jul 26, 2017 12:46 pm

Re: 3% FDIC insured savings...too good to be true?

Post by JBTX »

MrJedi wrote: Tue Aug 18, 2020 9:21 pm
JBTX wrote: Tue Aug 18, 2020 7:43 pm Seems like a fair amount of time and patience to get a modest payout. It has to be direct deposit, and it appears it has to build, and it doesnt start at 3%. I'm guessing if you put $5000 a month in, left it there until year end, ending at $60000, you'd probably earn $500-$750 of interest. You'd otherwise earn 1%, or $300, just letting sit in a high yield savings account. So for all that extra work you get an extra $200-$450 in a year. And it is taxable. Definitely not worth it. Bank bonuses are a ton easier and more lucrative.
Interest applies to the whole balance up to 100k. You need direct deposit to qualify for the higher interest but you can transfer other funds in.
You are correct. This explains it much better

https://www.doctorofcredit.com/new-bank ... hmbradley/

If you get their credit card and spend $100 a month the savings rate goes to 3.5%.

I'm definitely looking into this. Best to get set up now and get DD going so you can get top their rate of 3% beginning of quarter October 1.
123
Posts: 6521
Joined: Fri Oct 12, 2012 3:55 pm

Re: 3% FDIC insured savings...too good to be true?

Post by 123 »

Hatch Bank, which seems to be the "real bank" behind HMBradley, had domestic deposits of only about $41 million as of 3/31/20 according to the FDIC website.https://research2.fdic.gov/bankfind/det ... se&tabId=2
The closest helping hand is at the end of your own arm.
User avatar
batpot
Posts: 1206
Joined: Thu Jul 11, 2013 8:48 pm

Re: 3% FDIC insured savings...too good to be true?

Post by batpot »

I think the trick with this place, is you can't touch the money at all - Treat it like a rolling 3 month CD.

Say you deposit $100/month, for 3 months. then ACH over $50,000.

You now have a balance of $50,300 (plus insignificant interest) of which you can only touch $280 (80% of $300 deposits) to maintain the 3% rate.
If you withdrew more than $280, there's no way to distinguish the $50k deposit from the direct deposit.

One could argue that you'd have access to to the full $50,280, plus interest, but it's not clear.
surfstar
Posts: 2267
Joined: Fri Sep 13, 2013 12:17 pm
Location: Santa Barbara, CA

Re: 3% FDIC insured savings...too good to be true?

Post by surfstar »

It seems legit, but again, who knows for how long before they start dropping the rate as their balances increase.
https://www.businesswire.com/news/home/ ... rn-Digital

3% beats the .8-.85 we're currently getting.

although we still have a bunch of the netspend, brinks and DCU accounts for 5% on $12k total (both of us) - amazed those continue to go on
User avatar
batpot
Posts: 1206
Joined: Thu Jul 11, 2013 8:48 pm

Re: 3% FDIC insured savings...too good to be true?

Post by batpot »

surfstar wrote: Wed Aug 19, 2020 5:12 pm although we still have a bunch of the netspend, brinks and DCU accounts for 5% on $12k total (both of us) - amazed those continue to go on
I had $30K wrapped up in those for only a few months...

I let it go for quite a while longer after Mango nerfed theirs, and netspend dropped to $1k/account.
Still required manual work to transfer the money from the savings to the checking, and then ACH it out, plus with all the 1099s, I finally closed them down and moved it all out last year.

Still, it was pretty easy $250/year.
MBB_Boy
Posts: 215
Joined: Sat May 12, 2018 4:09 pm

Re: 3% FDIC insured savings...too good to be true?

Post by MBB_Boy »

batpot wrote: Thu Aug 20, 2020 9:05 am
surfstar wrote: Wed Aug 19, 2020 5:12 pm although we still have a bunch of the netspend, brinks and DCU accounts for 5% on $12k total (both of us) - amazed those continue to go on
I had $30K wrapped up in those for only a few months...

I let it go for quite a while longer after Mango nerfed theirs, and netspend dropped to $1k/account.
Still required manual work to transfer the money from the savings to the checking, and then ACH it out, plus with all the 1099s, I finally closed them down and moved it all out last year.

Still, it was pretty easy $250/year.
Same here, but I dropped them because logging in became an issue. Seemed like every quarter, 2 or 3 of them wouldn't let me log in for "security" and the unlock process was a PITA. Finally just cut bait
Auream
Posts: 501
Joined: Thu Mar 20, 2008 1:07 pm
Location: Raleigh, NC

Re: 3% FDIC insured savings...too good to be true?

Post by Auream »

Went ahead and signed up with the HMBradley account. I give it no better than 50/50 odds that the rate stays at 3% starting October 1st. But I just had one of my reward checking accounts cut the rate from 2.25 down to 1.5%, so anything better than 1.5% would still be worth it.
Northern Flicker
Posts: 6621
Joined: Fri Apr 10, 2015 12:29 am

Re: 3% FDIC insured savings...too good to be true?

Post by Northern Flicker »

If it is a new bank, they most likely are paying above market to acquire capital reserves quickly. Nothing wrong with exploiting opportunities like that, but don't expect it to last once their liquidity and capital requirements are met.
Risk is not a guarantor of return.
Pegasus_RPG
Posts: 55
Joined: Fri Jul 20, 2018 11:06 am

Re: 3% FDIC insured savings...too good to be true?

Post by Pegasus_RPG »

batpot wrote: Wed Aug 19, 2020 9:49 am I think the trick with this place, is you can't touch the money at all - Treat it like a rolling 3 month CD.
Exactly. The key is that total outflow has to be <=80% of total inflow per quarter, essentially guaranteeing savings/balance increase. It's a neat way to encourage saving. It only makes sense if you're not anywhere close to $100K, unless you like to mess around with these things, in which case $94K is the most you could get away with. Read on for details.

I'm biting, with the following plan:
  1. Open account, set up direct deposit for $25/mo or whatever amount you like.
  2. Toward the end of the first quarter after signup, transfer in your stash (as long as it's $94K or less so there's room for the interest without hitting the $100K limit where you earn nothing.)
  3. Let it ride.
    • If you're close to the $100K limit, skim off interest on the last day of the last quarter, making sure there is enough inflow to offset this skimming. E.g. increase DD to $1250/mo for that quarter (this is why $94K is the max to start with,) then pull $3K out on the last day and return the monthly DD amount to whatever you prefer. (Due to the 20% net inflow requirement, these figures/timing won't work the next year.)
  4. If you ever need to take out more than 90% of your total deposits made that quarter (since the savings rate is still competitive through Tier 3 at the time of writing):
    1. Take out the entire balance on the last day of the quarter (since you'll earn nothing the next quarter anyway, reducing your APY by 25%.)
    2. Park whatever you don't need in a competitive regular HYSA for the next 3 months, offsetting a bit of the APY loss.
    3. Transfer up to $94K back into HMBradley near the end of that time. This net inflow will then qualify you for Tier 1 for the following quarter.
  5. Rinse and repeat as required, keeping the DD rolling the entire time.
Last edited by Pegasus_RPG on Fri Oct 02, 2020 1:52 pm, edited 1 time in total.
the way
Posts: 374
Joined: Sat Oct 26, 2019 6:00 pm

Re: 3% FDIC insured savings...too good to be true?

Post by the way »

Pegasus_RPG wrote: Tue Sep 08, 2020 7:39 pm If you're close to the $100K limit, skim off interest on the last day of the last quarter, making sure there is enough inflow to offset this skimming. E.g. increase DD to $1250/mo for that quarter (this is why $94K is the max to start with,) then pull $3K out on the last day and return the monthly DD amount to whatever you prefer. (Due to the 20% net inflow requirement, these figures/timing won't work the next year.)
Now sure about this. If you put more money in like this, you'll just exceed the 100k by even more (unless you break the 20% saving rule and drop a tier).

But you could keep essentially 99.5k there all the time if you make the first big deposit right after the start of the quarter, then take up to 80% of it out right before the end of the quarter, and then feed it back in after the first of the quarter again (minus 750 for interest and whatever your DD was for the quarter).

Also get the CC and spend $100 each month to boost your rate by .5% or 1 tier.
User avatar
batpot
Posts: 1206
Joined: Thu Jul 11, 2013 8:48 pm

Re: 3% FDIC insured savings...too good to be true?

Post by batpot »

I signed up, first DD deposit is in.

Looks like I'm already in Tier 3...didn't have to wait 3 months to get any interest.
We'll see when it posts this month. 1% is already competitive with most high yield savings.
mickroark
Posts: 121
Joined: Wed Jan 13, 2016 10:35 am

Re: 3% FDIC insured savings...too good to be true?

Post by mickroark »

Sounds way more complicated than just buying a 3% differed annuity, which are widely available. :confused
User avatar
batpot
Posts: 1206
Joined: Thu Jul 11, 2013 8:48 pm

Re: 3% FDIC insured savings...too good to be true?

Post by batpot »

mickroark wrote: Wed Sep 09, 2020 11:01 am Sounds way more complicated than just buying a 3% differed annuity, which are widely available. :confused
Show me these 3% annuities with the same risk tolerance as FDIC insurance.
Post Reply