Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Economy

mahatmakanejeeves

(62,104 posts) Tue Jan 24, 2023, 09:37 AM Jan 2023

Rich Customers Pull Money From Banks Offering Paltry Interest Rates [View all]

Wealthy savers are taking their cash out of bank accounts in search of higher yields

wsj.com
Rich Customers Pull Money From Banks Offering Paltry Interest Rates
Wealth-management clients are moving deposits into higher-yielding Treasurys and money-market funds.

Link to tweet

7 replies

= new reply since forum marked as read

Highlight:

Rich Customers Pull Money From Banks Offering Paltry Interest Rates [View all] mahatmakanejeeves Jan 2023 OP

I am not wealthy but I sure am not leaving my money in a bank that pays .20% interest. nt doc03 Jan 2023 #1

I'm looking around for a place to park some of my money while keeping within in2herbs Jan 2023 #2

"to withdraw and or close their 401k" either that, or mandate that all 401k plans offer these progree Jan 2023 #3

Last I read the average 401k was $140,000. Leaving it in a 401k it will be subject to stock market in2herbs Jan 2023 #4

I think virtually all 401k's allow for fixed income investments? But not necessarily all the progree Jan 2023 #5

I thought I read that under a bill Congress just passed that withholdings are now in2herbs Jan 2023 #6

No, not IRAs, but yes, I believe that's true for 401k's, unfortunately progree Jan 2023 #7