I've posted my situation a few times so far across different sub forums. I received a settlement from the VA in July. I also receive disabilty from them monthly and that is my only source of income and it isn't enough to cover my bills. I will be applying for ssdi and trying for 100% with the VA currently 70% disabled. I started with 58k and change and I'm now at 48.8k.
I have to put out another 1k this week for moving expenses. 3k with a deep discounted vehicle purchase from gf/fiance's father selling me a vehicle. Hoping to apply and get accepted for a Discover secured card and I'll put 2.5k for that so that leaves 42.3k left.
I currently have this money in a money market account with my local credit union and each month my rate keeps dropping currently at .45. I want to earn a little more than that but still be able to withdraw as I need, I have no restrictions now where I'm at.
I need some investing advice on where I can put this money and still have a reasonable amount of easy access and remain liquid for bills and paying off debt. I plan on keeping at least 35k untouched. So please any suggestions on where I can find advice or where I can bank, investing is out of my scope of practice and I am way out or my depth.
I have to put out another 1k this week for moving expenses. 3k with a deep discounted vehicle purchase from gf/fiance's father selling me a vehicle. Hoping to apply and get accepted for a Discover secured card and I'll put 2.5k for that so that leaves 42.3k left.
I currently have this money in a money market account with my local credit union and each month my rate keeps dropping currently at .45. I want to earn a little more than that but still be able to withdraw as I need, I have no restrictions now where I'm at.
I need some investing advice on where I can put this money and still have a reasonable amount of easy access and remain liquid for bills and paying off debt. I plan on keeping at least 35k untouched. So please any suggestions on where I can find advice or where I can bank, investing is out of my scope of practice and I am way out or my depth.
You can go here https://www.depositaccounts.com/checking/reward-checking-accounts.html
and research rewards checking accounts.
This sounds like what you need. You want access but still have a decent APY.
Most of them top out around $25k. Some have a secondary account called Kasasa Saver where the rest of the money can spill over up to a set amount and still earn 1.0 %.
I'm a member of one CU that offers that (Xcel CU).
All you have to do is use the debit card 12 times a month to receive the benefits. It doesn't matter how much those transactions are.
Basically you'll earn 2.01% on $25k and another 1% on the other $10k.
Xcel is just one of many. There are plenty of others that offer something similar.
and research rewards checking accounts.
This sounds like what you need. You want access but still have a decent APY.
Most of them top out around $25k. Some have a secondary account called Kasasa Saver where the rest of the money can spill over up to a set amount and still earn 1.0 %.
I'm a member of one CU that offers that (Xcel CU).
All you have to do is use the debit card 12 times a month to receive the benefits. It doesn't matter how much those transactions are.
Basically you'll earn 2.01% on $25k and another 1% on the other $10k.
Xcel is just one of many. There are plenty of others that offer something similar.
Thanks gmood I'll check them out, I appreciate it.
Great question as I too was interested in same info... Best wishes with disability(ssdi) and don't get discouraged with them just keep pressing sometimes they are very slow moving....
@Gmood1.... thanks for link.. good info there...
@Gmood1.... thanks for link.. good info there...
@9CLINE wrote:
Great question as I too was interested in same info... Best wishes with disability(ssdi) and don't get discouraged with them just keep pressing sometimes they are very slow moving....
@Gmood1.... thanks for link.. good info there...
Thanks, sometimes you have to admit when you just don't what the best plan of action is and with anything above 20k I am clueless.
You know after dealing with the VA for years, I know how frustrating these things can be, I will do my best to not let it get me down Thanks for the support!