(no subject)

[sprinklethief]

okay, i'm a math/finance retard so i need some help here.

my savings has an interest rate of 0.10% and is FDIC insured. it's technically a money market account.

my paypal account has an interest rate of 5.05% but is NOT FDIC insured. the rate can fluctuate as well though historically it has increased since 2001. it is also a money market account i believe.

would it be worth my while to transfer my savings into my paypal account? lets say my savings is $2000 for all intents and purposes. opinions? i'd just be afraid to have a loss, and with my luck that's bound to happen...

Comments

[paroxysm-cycle.livejournal.com]

yeah, the more i read the more i realized that's just a bad idea all around. i'm thinking about hooking myself up with a savings from ingdirect.com due to a similar interest rate and the whole being insured thing.

[dreadful-birds.livejournal.com]

Sounds good. I didn't know about ING either, we've been looking for some way to save up money and that sounds pretty good.