Rant: My accountant told me my 'business savings' was just a regular checking account

She said I was losing money to inflation and needed a high-yield account, so I moved $15k to one paying 4.5%. Anyone have a better rate right now?

3 comments

3 Comments

grantnelson22h ago

Check what the actual APY is on that 4.5% offer. A lot of those are teaser rates that drop after a few months. Did you look at any money market funds through a brokerage? Some of those are paying over 5% right now and are pretty liquid.

zarat3721h ago

It's the same with cable and internet deals. They get you in the door with a low price, then it jumps up after the first year. Always have to read the fine print.

the_olivia15h ago

Teaser rates that drop" is the financial version of a bait and switch. You finally get your money working for you, and then they just take the job back. Classic.