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All of those "high interest" savings accounts are below 2%. Official CPI is 2.5% for 2017 -- and CPI underweights essentials such as housing and healthcare, al

All of those "high interest" savings accounts are below 2%. Official CPI is 2.5% for 2017 -- and CPI underweights essentials such as housing and healthcare, all of which have gone up much more than 2.5%. Your savings accounts are all effectively negative yield. Why would I store my wealth there?

astura 9y ago
You obviously didn't click the link because it specifically shows you accounts up to 5%. I mean, the friggin title is "Best High Interest/Yield Savings Accounts – Up To 5% APY"
- etr-strike 9y ago
  Your "5% APY" option is a prepaid debit card that has a maximum balance of 5000 and the advertised rate is only good for a couple of months. The lesser rates have similar terms - only earn 3.5% on balances up to 10k, you must make 12 purchases from your debit card per month. You must spend more than 1k from your debit card per month. You must log in to your account at least once or month. If you skip any of these things, your interest rate is 0.01%. This is your suggestion for storing wealth safely?
  - 659087 9y ago
    > This is your suggestion for storing wealth safely? Says the person who suggests that a highly volatile and risky cryptocurrency with a long history of crashes and manipulation is a "safe haven".
    - etr-strike 9y ago
      In 2008 the stock market crashed over 50%. Plenty of people would have lost everything had the fed not intervened. Is bitcoin volatile? Of course. But at least the game isn't rigged.
      - spookthesunset 9y ago
        There is absolutely no way you can be sure the price of bitcoin isn’t rigged. The exchanges are all sketchy as heck and are no doubt doing backroom trades to help boost the price.
  - astura 9y ago
    I've kept around $10k in FDIC insured savings accounts tied to prepaid cards for years. Successfully got 5% risk free for years. So, yes. 5% risk free is not going to scale to much more than that but if you're saying "stocks are expensive, real estate is expensive," then you aren't going to reach that limit very soon... I have the rest of my money in various investments, a very small amount (5%) speculational, including a small amount of Bitcoin plus around $90k in my house.

astura 9y ago

You obviously didn't click the link because it specifically shows you accounts up to 5%. I mean, the friggin title is "Best High Interest/Yield Savings Accounts – Up To 5% APY"

etr-strike 9y ago
Your "5% APY" option is a prepaid debit card that has a maximum balance of 5000 and the advertised rate is only good for a couple of months. The lesser rates have similar terms - only earn 3.5% on balances up to 10k, you must make 12 purchases from your debit card per month. You must spend more than 1k from your debit card per month. You must log in to your account at least once or month. If you skip any of these things, your interest rate is 0.01%. This is your suggestion for storing wealth safely?
- 659087 9y ago
  > This is your suggestion for storing wealth safely? Says the person who suggests that a highly volatile and risky cryptocurrency with a long history of crashes and manipulation is a "safe haven".
  - etr-strike 9y ago
    In 2008 the stock market crashed over 50%. Plenty of people would have lost everything had the fed not intervened. Is bitcoin volatile? Of course. But at least the game isn't rigged.
    - spookthesunset 9y ago
      There is absolutely no way you can be sure the price of bitcoin isn’t rigged. The exchanges are all sketchy as heck and are no doubt doing backroom trades to help boost the price.
- astura 9y ago
  I've kept around $10k in FDIC insured savings accounts tied to prepaid cards for years. Successfully got 5% risk free for years. So, yes. 5% risk free is not going to scale to much more than that but if you're saying "stocks are expensive, real estate is expensive," then you aren't going to reach that limit very soon... I have the rest of my money in various investments, a very small amount (5%) speculational, including a small amount of Bitcoin plus around $90k in my house.