Articles
Selected category: Savings
Image Courtesy: Pexels
Stop Waiting for the Big Money Center Banks to Raise their Rates
It has been many years since I co-founded BestCashCow, and I have heard just about every excuse possible for keeping your cash in low interest earning savings and money market accounts, checking accounts and CDs. However, there is a new... Read →
Image Courtesy: CNBC
Jack Bogle, Index Investing and BestCashCow
Jack Bogle pioneered the investing world and the mutual fund industry. He taught the world that they should not be paying fees for performance, and that seeking to be average will outperform over the medium-term and the long-term. He... Read →
Image Courtesy: Wikipedia
Nothing Could Be More Dangerous Than to Buy a Bond Fund Right Now
Occasionally, financial planners reach out to me and want to connect on LinkedIn and social media. While I do not hold financial planners in very high esteem since, they are always selling their latest product. I occasionally connect in... Read →
Image Courtesy: Marketwatch
Wall Street Analysts Are Writing Their Own Fake Narrative About Inflation
I cannot do it anymore. I just cannot watch CNBC or Bloomberg. It isn’t because the market is falling (it is). And, it isn’t because I cannot bear to hear the usual batch of cheerleaders (so-called “analysts”)... Read →
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 →
Image Courtesy: KPBS.org
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 →
Image Courtesy: Pexels
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 →
Image Copyright: BestCashCow
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 →
Image Courtesy: Robinhood
Robinhood Offering 3% APY Savings & Checking in Bold Shot Across the Bow Of Established Banks, but No FDIC Insurance
As of this morning, Robinhood is offering a 3% APY savings & checking rate on its website. The account is advertised as being completely without fees and providing access to 75,000 ATMs. In an earlier article, we suggested that... Read →
Image Image Copyright BestCashCow
In Spite of Uncertainty, Savings and CD Rates Are Rising into December 2018 FOMC Meeting
The last couple of weeks have been fraught with uncertainty in global markets. In the US, we ended November with Fed Chairman Jay Powell moving to appease a President in a speech before the NY Economic Club by suggesting that a... Read →
Image Courtesy: Pexels
No Need to Rush Into Neo-Banks
Unlike manufacturers, banks don’t make things. Unlike retailers, banks don’t sell things. Banks make money in three ways - the fees they charge for services, the interest they charge on the loans they make, and the income they... Read →
Image NPS.gov
December 2018 Update – Five Nationally Available Online Savings And CD Accounts that Recently Raised their Rates
Savings and CD rates continued to firm in November. And, while much was made in the last few days concerning Fed Chairman Jay Powell’s unprecedented equivocation to presidential harassment, the Fed will likely raise the Fed Funds... Read →
Image Courtesy: Pexels
Money Is On Sale
If you turn on the TV, open the Sunday newspaper, or log on to anything, you’ll see that while the holiday season is about family and friends, it is also about savings money and getting the best deals (when spending money). What is... Read →
Image Yahoo!
Federal Reserve Chairman Jerome Powell Bows to President Trump, Setting Dangerous Precedent
Jerome Powell in his speech this morning at the Economic Club of New York stated that the Federal Reserve is “just below” its neutral rate. The Federal Reserve is poised to raise the Fed Funds rate by 25 basis points to 2.25%... Read →
Image Courtesy: CNBC