Articles
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 →
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
Ray Dalio’s Advice is Not For You
Ray Dalio is a Greenwich-based hedge fund manager. I don’t know Ray, but by all accounts he is a very successful operator with excellent performance and a smart guy. Dalio has recently been playing his hand at making far out... Read →
Image Courtesy: Pexels
A Lesson for your Kids about Math and Money
It’s very hard to figure out when and how to discuss money with your children. It’s almost as difficult, surprisingly, as talking with them about sex. But there is an easy way, one that also gives them at the same time an... Read →
BestCashCow's Best Bets in Online Savings and Money Market Accounts for 2019
The Federal Reserve moved in September 2018 to a 2 – 2.25% Fed Funds rate, and savings and money market rates are now firmly above 2%. Interest rates are poised to go up again in December 2018. Unless Trump fires Jay Powell, the... Read →
Image Courtesy: KNKX
November 2018 Update – Five Nationally Available Online Savings And CD Accounts to Consider
Online savings and CD rates rose in October. We continue to favor savings rates over CD rates. It remains likely that the Federal Reserve will raise the Fed Funds rate from its current 2.00 – 2.25% Fed Funds rate to a 2.25% - 2.50%... Read →
Image Courtesy: Pexels