I was all excited for about a minute and a half when I read Jonathan's post on cd rates. 4.25%>3.50% that I'm getting now! Except, of course, I can't afford to tie up every penny I have for the next eight months since that would defeat the purpose of the emergency fund. I then ran the numbers on moving $5,000 into a cd and quickly decided it isn't worth the reduction in liquidity. meh.
Then I had a semi-brilliant idea: my parents would probably benefit far more from such rates. After all, they have a lot more money to worry about. A quick visit to their bank's website revealed that they are currently earning either 1.70 or 1.80% APY depending on how much they have sitting in their money market account. A few months ago their money market account was competitive with the major online savings accounts, but I guess those days are no more.
So I mentioned the rates to my mom when we talked tonight. She's been hesitant to do any online banking before, but it sounds like she's willing to make the jump and open a Bank of America cd online since the rates are so much better than she can get at one of their local brick-and-mortar branches. It's all part of my dastardly plan to minimize the chances I'll end up supporting my parents in a few decades.