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Selected category: Savings
Our Predictions for 2019
Because my predictions for 2018 have proven to be largely correct I have been emboldened to release my predictions for the coming year. I correctly predicted online savings and money market rates going above 2% before October 2018,... Read →
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Now Is A Good Time to Build a Wall - Around Your Savings
If you are like most Americans, you have just learned that you have been kidding yourself for years. We believed that the economy could grow quickly in spite of the 2016 election outcome. We believed that the Republican Congress could... Read →
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2.05% or 2.10% is No Longer A Competitive Online Savings Rate
It has been 3 days since the Federal Reserve raised the Fed Funds target rate to a range of 2.25% to 2.50%. Over the past year, with each raise, the major online banks have competed to be first to move their savings rate within the new... Read →
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The Federal Reserve Raises Fed Funds Rate to 2.25% to 2.50%, Indicates 2019 Will Be Slower
The Federal Reserve, acting today in its final 2018 meeting, voted to raise the Fed Funds rate by 25 basis points. The Fed funds target rate is now 2.25% to 2.50%. This hike represents the fourth hike of 2018, and since Jerome Powell... Read →
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Fed Funds Rate is Raised to 1.25%
The Federal Reserve, acting today in Janet Yellen’s final meeting as the Chairman, voted to raise the Fed Funds rate by 25 basis points. The Fed funds target rate is now 1.25% to 1.50%. The Fed is continuing to guide towards three... Read →
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New Tax "Cut" Not Really A Christmas Gift for America
The details of Donald Trump’s and Congressional Republicans’ tax cut have only just come out. And, the details tell all. First, I would not go out and celebrate, unless you: are in the real estate business run a... Read →
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Blue States Thinking Creatively In Response to 2018 Federal Property Tax Deductibility Changes
Blue States are working hard to overcome many of the hits they took following the all-Republican Tax Law – a law that decidedly disadvantage Blue high-tax states like New York, New Jersey, Connecticut, Illinois and California. ... Read →
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2018 Is A Lousy Year to Leave Your Money Where It Earns Nothing
Happy New Year! 2018 is going to be a great year. Will it be another barnburner on the stock market like 2017? Maybe, but you sure cannot bet everything on it. What you can be sure of is that savings rates have moved up. There are... Read →
Bitcoin and Blockchain: “That’s OK. I Didn’t Really Understand It At First Either”
I am old enough to have lived through 1999 and 2000. Actually, I am old enough to say that it is part of my adult experience. I worked in the internet and telecom sector then. We were building real things and the world was being... Read →
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2018 Starts with A Bang!
2018 started with a complete bang in global financial markets. The Dow Jones Industrial Average broke 25000 and seems well on its way to 26000. Not only did our President say that it could go much higher in 2018, but so did David Tepper.... Read →
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Purepoint May Be Changing Its Focus
Purepoint MUFG, a subsidiary of the Japanese conglomerate Mitsubishi UFG Financial Group, entered the online banking market in late 2016 in a very aggressive manner, offering what was then the highest online savings and highest 1-year CD... Read →
A Leading Online Bank is Trying to Sell You Gold; Should You Bite?
Dollar Savings Direct, a division of Emigrant Bank, now offers depositors a competitive savings rate. After a many year hiatus from the online savings market, Emigrant returns to a competitive position for a company that a decade ago was... Read →
Bitcoin Cannot Get to Zero Fast Enough
The stock market is coming off of its most recent highs quite dramatically, and CNBC is full of pundits trying to explain its fall and guess about its future. People who loose money in the market today will no doubt have opportunities to... Read →
Five Online Savings Accounts and CD Accounts to Consider in February 2018
Rates are clearly going up now. Whether you have extra cash that you are looking to move from a bank paying basically nothing or are removing money from a volatile stock market, here are some places to consider putting your money today.... Read →
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