Articles
Selected category: Savings
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The Wisdom of Old or Not-So-Old Age
While Bankrate no longer provides the most accurate and comprehensive information on bank rates (that distinction now belongs to BestCashCow or RatesAndInfo.com), they do sometimes produce interesting surveys. Their latest survey... Read →
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Premium in 1-Year CD Rates Over Savings Rates At Highest Point in a Decade
Based on BestCashCow’s computations, the spread between the average online savings rate and the average 1-year CD rate is now approaching 60 basis points. This means that in return for locking up your money in a one-year CD, you can... Read →
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June 2018 Savings and CDs Update: Federal Raises Fed Funds Target to 1.75% to 2.00%, 5 Opportunities to Look At
The Federal Reserve raised the Fed Funds rate by 25 bps to a target of 1.75% to 2% this afternoon. The move marks the seventh such move since the Fed began moving the Fed Funds rate from zero in December 2015, and the second in Jay... Read →
May 2018 Brings Higher Savings Rates – Here are 5 That We Think Will Continue to Go Up
As we begin May 2018 and approach the second and third meetings of Jay Powell’s tenure as Chairman of the Fed, we are continuing to see savings rates firm up. While savings rates are improving, they are not where we expect to see... Read →
The Six Biggest Crimes of Online Banks
It has been over 15 years now since I opened my first online savings accounts with ING Direct (now Capital One 360) and HSBC Direct (now HSBC Advance). In that time, I have experienced a lot of different service levels and experienced... Read →
Ally Invest Offering $3,500 for New Account Holders Bringing Over $2 MM
For many years, ETrade and TD Ameritrade have given customers $2,500 for bringing over $1,000,000 in cash or securities into a new or existing account (these bonuses are ordinarily limited to one per year). Ally Invest today sent an... Read →
Savings and CD Rates Move Higher In April – 5 Interesting Nationally Available Rates
Following the Fed’s raising of the Fed funds rate in March, we have seen savings and CD rates begin to tick higher as we move towards the Fed’s second meeting with Jay Powell as Fed Chairman. Powell’s testimony... Read →
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Fed Hikes 25 Basis Points In Jay Powell’s First Meeting as Chairman
The Federal Reserve raised the Fed Funds rate by 25 bps to a target of 1.50% to 1.75% this afternoon. The move marks the sixth such move since the Fed began moving the Fed Funds rate from zero in December 2015, and was unanimous. While... Read →
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5 Savings and CD Accounts to Take a Look at In March 2018
Savings and CD rates continued their climb towards the end of February. We expect rates to continue to go up into Jay Powell’s first meeting as Fed Chairman. Powell’s testimony in front of Congress this week has made very... Read →
Five Reasons to Raise Cash Now
You have probably been making a lot of money in stocks for some time now, or are jealous of those who have while you sat on the sidelines. However, there are reasons for raising cash in your portfolio right now. Here are five of... 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 →
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 →
What is the Difference Between A Savings Account And A Money Market Account?
Savings accounts and money market accounts are extremely similar account types. In fact, they are so similar that BestCashCow lists them together. Both are basic ways to stash cash while keeping it accessible (they are liquid accounts). ... 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 →
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