I put my tax refund into a high yield savings account on a whim

It was about $1,200 and I just left it there for a year. I made over $50 in interest without doing anything, which was more than I expected. Anyone have other low effort places to park cash like that?

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3 Comments

anthony_sullivan76mo ago

Try putting it in a money market fund... I did that once and then forgot my login info for six months, which turned out to be the best investment strategy I never meant to have. Honestly, just not touching it is the hardest part.

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laura_white995mo ago

Read somewhere that the average person checks their investments like 20 times a day. No wonder nothing grows, @anthony_sullivan7 accidentally did it right.

9

wadefoster6mo ago

Ever think about a CD? I locked some cash in a 12 month certificate last year and the rate was even better than my savings account. It forces you to not touch it, which is the whole point. The penalty for pulling it out early kept me from being tempted. Felt good to just set it and forget it.

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