Hi there dequeued.
This is a little long winded - but I just want to give you a little food for thought. Hope you're hungry! ;-)
My questions are not exclusively business related at all. My problem is - I essentially have a pile of money in both my personal, and my business bank accounts. For which, I need help/advice on. I feel like, simply including the word business in which most of my questions pertain to personal finance, tagged my post, and thus was removed :-(
I have many questions, none of which are exclusive to business. All the questions or statements made were all relating to personal finance as well.
I'm not asking a question about how to run a business, or how much should I pay myself, or any sort of tax implications from the business. I know in PF, alot of people talk about CapitalOne360, Ally Bank, Synchrony.
Prior to making this post, I spent a good hour searching roughly 1 dozen subreddits, (including your recommendations). I was unable to find anything similarly posed. I fear that because the question I'm asking (is not exclusive to business) that if I'm to post in the subreddits recommended - I'll face the same unfortunate removal of the post as well.
I'm not sure if my post was tagged and removed because it had certain keywords or the word business ... but this took me a very long time to type, and explain it to the best of my ability. I truly feel like this post belongs here - wheras any other subreddit - it just doesn't fit in with. There is a wider audience in pf and I just am hoping to have some straight answers. I'm hoping we can make an exception to this, and continue with this and spur a conversation.
Lastly - I'm going to include direct quotations from my post - which were highlighted in bold in the OP, to give the reader a clearer "TL;DR" view of the post. Starting from the top to bottom, I just want to relay these to you. Every one of these questions/comments pertains to a personal financial decision and is not exclusive to anything business. I feel like if my questions can be answered here even just on the direct personal questions, I may be able to kill 2 birds with 1 stone - and incorporate the recommendations for both my personal, and business.
Each bold I will attach a quick note about it as well.
Personal account, I have around 100k - which is floated between savings/checking as the rate differences are minuscule. I have around $1M cash in the bank for our business. 50k in WF Business Checking, with 950k in WF "High Yield" Business Savings.
For my house I've paid around 120k, of the 375k price we closed on. Roughly 30%.
I pay myself/wife (jointly) essentially a minimum each year. One that takes care of the CC bills, utilities, food, and mortgage.
I'm not looking to get myself involved in Stocks/Bonds or even an IRA (will explain).
I'm really just looking to find a bank that provides a high yield APY Checking/Savings/Money Market/Optional CD's.** I need one for both personal,** and business.
All in all, I have around 950k in my business, and currently 100k in my personal which I can work from. I'm assuming I'd put the 950k into some sort of Savings account or possibly a business CD. With the 100k either being Checking/Money Market.
I'm hoping you can look past this, and we can make an exception. If you still feel like this violates the subreddits rules, can you talk with another mod on it as well? I honestly don't know where else I can post this - and receive the answers I'm looking for.
Pretty please? I'll be your best friend! Thanks much and have a wonderful day :)