Articles
Selected category: Savings
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Does the Stock Market Need to be Massively Overbought Before It Crashes?
I cannot turn on CNBC or Bloomberg without hearing some money management type explain that there is no risk of a stock market crash because it is not wildly overbought like it was in 1929, 1987, 2000 or 2008. It seems that everyone is... Read →
September 2018 Outlook: With the Fed Poised to Raise Twice Before the End of the Year, Here are the 5 Best Savings and CD Products Now
As we move into the fall with all sorts of political turbulence with potential economic ramifications, the Federal Reserve remains poised to raise the Fed funds rate by 50 basis points to 2.25% to 2.50% before December. As we pointed... Read →
Avoid Preferred Stock
A major money center bank recently updated its website in such a way that before customers (and non customers) even log in they are encouraged to “Consider Preferred”. Site users are immediately directed to a linked article... Read →
A Good Problem – Insuring Over $250,000 in a Single Bank Account
It’s nice to have over $250,000 in savings, but it is a pain in the neck to have to split the money up in more than one bank in order to ensure that it is all covered by FDIC insurance. Given the instability in America right now,... Read →
August 2018 Outlook: Savings Rates Increasing and Poised to Move Higher – 5 Accounts to Consider
We’ve entered the long hot days of summer with all sorts of political and economic turbulence on the horizon. Savings rates have firmed and would seem to be poised to move still higher, with the Fed likely to raise the Fed funds... Read →
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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 →