Anyone have a high interest savings account?

[DLgal]

Get a divorce as a father before your kids are out of school and you have no choice but to start over like you're 25 when you're 50. Many of us have nothing left but the clothes on our back at a time we should be starting to look forward to retiring.

Or, just never be able to buy a house, period, until you are in your 50s. Living in Southern California for most of the last 20 years on one income makes it hard to even get started. We might finally buy a house when we turn 50, if we are lucky. I guess we will just hope to pay it off before we die so our kids have a place to live when we are gone.

 

[tvguy]

Get a divorce as a father before your kids are out of school and you have no choice but to start over like you're 25 when you're 50. Many of us have nothing left but the clothes on our back at a time we should be starting to look forward to retiring.

Which is why some folks just separate not divorce. They look at just the lawyers fees and despite their differences decide the financial impact isn't worth the cost.
One former co-worker and his wife even still share the same house. He has the upstairs, she has the downstairs, they share the kitchen and laundry room. The commission on selling their house was going to be $50,000, so they sucked it up and stopped living as husband and wife and just became roommates. Better for their kids too. And lord knows how much they saved in lawyers fees

 

[princesscinderella]

Series I bonds are paying record interest 9.8% if you are interested in tying up some money for at least a year minimum. You have until October 31st to buy the bonds from treasurydirect.gov. The rate will go down to 6% November 1st but you are guaranteed the 9% for the 1st six months if you buy before the end of October. It’s a 10k maximum per person.

 

[DCLMP]

Or, just never be able to buy a house, period, until you are in your 50s. Living in Southern California for most of the last 20 years on one income makes it hard to even get started. We might finally buy a house when we turn 50, if we are lucky. I guess we will just hope to pay it off before we die so our kids have a place to live when we are gone.

I have family member that rented for years in California. They finally moved to the Southeast at age 50 and bought a house.

 

[Eastern]

Open new 360 Performance Savings account and then transfer your full balance -it takes less than 5 minutes online!

I just did that a couple weeks ago after coming across this same info on a Facebook group. Capitol One changes the types of accounts they offer, and doesn't tell account holders that it has happened, but they're happy to let people sit there with their old accounts earning next to nothing.

I felt a little sheepish at having not noticed, but I (and you) are not alone - there were a bunch of people on that facebook group sitting on old 0.30% Capitol One savings or money market accounts, many of whom came over from ING.

I had to comment on this...I recently opend a Capital One savings due to the interest they were offering. When my account opened, they listed the rate as something much lower than what I saw previously online; it could have been .3%. I was so annoyed I just closed the account. Not in the mood for games.

 

[disneychrista]

I guess you don't have a 360 performance savings account with them? I see 2.25% listed now. (no fees, no minimum)

https://www.capitalone.com/bank/savings-accounts/online-performance-savings-account/

Thank you for this. I have had Capital One savings since it was ING. I just opened a performance and transferred my other savings to it. I tried to open an Ally account but for whatever reason they couldn't open one because they couldn't verify my citizenship or something like that.

 

[georgina]

Thank you for this. I have had Capital One savings since it was ING. I just opened a performance and transferred my other savings to it. I tried to open an Ally account but for whatever reason they couldn't open one because they couldn't verify my citizenship or something like that.

Glad you got the higher rate. Weird about the citizenship, maybe you mistyped your SSN?

 

[disneychrista]

Glad you got the higher rate. Weird about the citizenship, maybe you mistyped your SSN?

I thought that too. But then I redid it and got the same response. I had been meaning to call and find out what the issue was but ever got around to it.

 

[elgerber]

Thank you for this. I have had Capital One savings since it was ING. I just opened a performance and transferred my other savings to it. I tried to open an Ally account but for whatever reason they couldn't open one because they couldn't verify my citizenship or something like that.

I got mad at Cap One when I saw you had to open a different account to get the higher rates. I have at least ten accounts there, since they were ING. I took most of my money out and moved it to my ALLLY and Discover accounts, who both raise the rates in your existing accounts when they go up.

 

[Eastern]

I got mad at Cap One when I saw you had to open a different account to get the higher rates. I have at least ten accounts there, since they were ING. I took most of my money out and moved it to my ALLLY and Discover accounts, who both raise the rates in your existing accounts when they go up.

Same. The thing is, I specifically opened it because I saw the rate. I don't know how I even opened the 'wrong' account.

 

[elgerber]

Same. The thing is, I specifically opened it because I saw the rate. I don't know how I even opened the 'wrong' account.

Why does the "wrong" account, even still exist to be opened?

 

[disneychrista]

I got mad at Cap One when I saw you had to open a different account to get the higher rates. I have at least ten accounts there, since they were ING. I took most of my money out and moved it to my ALLLY and Discover accounts, who both raise the rates in your existing accounts when they go up.

I agree, it makes no sense that they make you open new accounts for the higher rates. If I could have opened the ALLY account I would have moved my money too.

 

[MouseOfCards]

Capital One is currently offering a bonus for their 360 Performance Savings. The account is currently earning 2.35% APY, but their bonus pays $100-$1,000 based on amount deposited with them.

https://www.capitalone.com/bank/fall22/

 

[disneychrista]

Capital One is currently offering a bonus for their 360 Performance Savings. The account is currently earning 2.35% APY, but their bonus pays $100-$1,000 based on amount deposited with them.

https://www.capitalone.com/bank/fall22/

Wish I’d seen this before I just opened and transferred all my savings.

 

[elgerber]

Discover has a good bonus for new customers only and has the same rate as Ally.

https://www.discover.com/online-banking/savings-lng-04/?TPR=091

 

[sksjasams]

.

 

[DLgal]

I agree, it makes no sense that they make you open new accounts for the higher rates. If I could have opened the ALLY account I would have moved my money too.

Did you try just calling Ally and asking what the problem was? They have pretty good customer service.

 

[disneychrista]

Did you try just calling Ally and asking what the problem was? They have pretty good customer service.

No. It was on my to do list. But since the rates with Capital One's new accounts is the same, I opened and moved my money.

 

[disneyeveryyear]

Just like my neighbor across the street. She and her husband bought their house in 1979 for $75,000. Husband kept taking equity out of the house. He died 6 years ago. 43 years in the house, she still owes $60,000. I can't imagine being in that position. She lost her husband, lost his income, and is 71 now and stuck with a house payment.

My MIL and GMIL moved into a house that had been owned by DH's great grandparents, so GMIL inherited it (free). When they both died 11 years later there was a $77,000 mortgage on the home. There had been one small basement renovation done in those 11 years. What it really amounted to was overspending by $7,000 every year.

Thank God my DH didn't learn money skills from his mother. Unfortunately, both of his sisters did learn poor money management from them. They have both borrowed money from him. One is still paying him back. Not sure we will ever see all of that money (and it wasn't even that large of an amount, only $3,000).

 

[DCLMP]

Or, just never be able to buy a house, period, until you are in your 50s. Living in Southern California for most of the last 20 years on one income makes it hard to even get started. We might finally buy a house when we turn 50, if we are lucky. I guess we will just hope to pay it off before we die so our kids have a place to live when we are gone.

Even if you retire with a ton of money health issues and long term care can eat up all your income and your kids are left with nothing. If Southern California is your happy place and you are not living on the streets than it doesn't really matter what others think. Life is short. "You come into this life with nothing and you take nothing out."