The only reason I have found to stick with one of the large banks is to interface with a wealth management team. I have yet to find a credit union who can offer the same types of services as say, Merrill Lynch Wealth Management.
Savings accounts are one of the biggest scams of all time; 4.2% interest? Oh boy! You have $10k in the bank so that gives you a whopping $420 at EOY.
Compare that to existing avg returns on WM accounts of nearly 18% where that same $10k generates $1800.
Don’t have to like the game but play the game to win. And it costs me zero time and effort but still lets me dictate where it can be invested (aka fuck Elon)
The only reason I have found to stick with one of the large banks is to interface with a wealth management team. I have yet to find a credit union who can offer the same types of services as say, Merrill Lynch Wealth Management.
Savings accounts are one of the biggest scams of all time; 4.2% interest? Oh boy! You have $10k in the bank so that gives you a whopping $420 at EOY.
Compare that to existing avg returns on WM accounts of nearly 18% where that same $10k generates $1800.
Don’t have to like the game but play the game to win. And it costs me zero time and effort but still lets me dictate where it can be invested (aka fuck Elon)