Might Be Time to Make a Move
By Jim Bauer
@porwest (112245)
United States
May 7, 2026 6:02am CST
I think it's time to move some money from my high yield savings account. Just a year ago I was yielding around $5k a year in dividends. But that's been reduced to around $3k a year.
I like to view it as a "safety cushion," but I can double my dividends by putting it into something like my SPXX which pays a little over 7% and is what I consider my "main savings hold" within my stock portfolio.
I'd only move a couple thousand. I have a certain minimum I prefer to maintain. And I will wait until the next big pullback, which I know will come eventually. It always does.
I also have a CD there maturing on the 11th, and I thought about moving that entirely, but last minute I've decided to just let it ride even though it will only get around 3.6% with the loyalty half a percent bump.
Do you ever move your money around to enjoy a little more bang for your buck?
6 people like this
6 responses
@xFiacre (14660)
• Ireland
7 May
@porwest If it’s a good deal I always move my cash. My main (and modest) investment account has started looking pretty smart so I’ll move some of my savings in there. I’ve one pot maturing in July so I’ll see what’s looking lucrative so I can put it somewhere useful because I won’t need it for anything other than investment. And I just filed my taxes and owe just £5.
1 person likes this
@porwest (112245)
• United States
7 May
Certainly, with money you don't "need," you can endure more short-term risks or "lockups." A lot of the time if I have a need for immediate cash, say for a camping trip or something like that that's extra, I just sell a covered call on my underlying securities and spend the premiums so that way I don't have to dig into principal.
1 person likes this
@lovebuglena (51749)
• Staten Island, New York
7 May
I opened a Capital One savings account. The APY is 3.1%. Compared to Chase this is a really good percentage because Chase pays .01% I think. I would’ve been better off opening a CD there as a year CD in Capital One pays 3.9%. I didn’t wanna do that however because I can’t touch that money for a year and I wanted to be able to take money out if I needed to.
What is a high-yield savings account? Is it simply one that pays a higher percentage?
@LindaOHio (220739)
• United States
8 May
Not anymore. I'm happy with the return I'm currently getting.
1 person likes this
