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Tech_geek23 OP t1_j6nh7qe wrote

Reply to comment by bflaminio in Traditional Savings vs HYSA Savings by Tech_geek23

I know ally won't be some crazy high amount. Given current rates it would result in a 1099-int but not a big enough number to be wowed if that makes sense.

Sounds like may as well just keep my money in the same place

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bflaminio t1_j6ni4xc wrote

There are advantages beyond monetary for doing so. I use Schwab Bank for most of my banking, and it is linked to my Schwab Brokerage account. My e-fund sits in the brokerage account, invested in a money market fund. It doesn't pay quite as much as the better HYSAs, but if I need to make an emergency payment it's simple to transfer money between the two accounts.

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Tech_geek23 OP t1_j6niinp wrote

That makes sense as well. I link all my accounts so the actions are easy but having 2 different apps and sites is not my favorite thing

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