I love ING Direct
Is it possible to be in love with a bank? I spent two hours today daydreaming about my ING Direct account. The interest rate is high there right now, over 5%! I'm thinking of cashing out some old savings bonds earning 4% and then putting that money in ING Direct. Of course I need to think about the tax considerations because the bonds are accumulating interest tax deferred, but I'll have to pay taxes every year on the ING Direct interest. Hmmm, but I wonder if I should pay the taxes on the bonds now because I might (hopefully) be in a higher tax bracket in 20 years. So many choices to make! If anyone has any advice out there on what to do with old savings bonds, let me know.
posted by ObsessedWithMoney @ 1:29 PM
6 comments
6 Comments:
5% isn't that high you are barely beating inflation...
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This comment has been removed by a blog administrator.
Good point Pyro, but its one of the best out there for a risk-free return. If you have any other suggestions for where to put the money, I welcome them.
actually 5% or better is good IMO. I have been buying CDs at 5% or more and think that's perfectly reasonable for non-retirement accounts.
To compare T-bills and regular CDs/high interest savings accounts you could use Jonathan's
Equivalent Interest Rate Calculator.
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