Lots of people have savings accounts. I have a question:
I was reading an article about maximizing your account
and while it was obviously talking about savings in the general sense, rather than a savings account there's an assumption that that's where you're going to put your money. Banks are full of savings accounts, but I can't even get any money on a CD. BankRate has the best 1 year CD rate
at a yield of 1.74%
. Why even bother?
Of course what else do we do with our money? Stock market prices
are historically high and the markets don't seem safe to me. I feel like i'm being played at all sides. Besides I'd like to have some money that isn't
in the markets, but the game seems rigged to keep me in. 0% fed rate doesn't leave me a lot of options. I have a few treasuries, but even they're quite volatile.
So maybe we need a new name for savings accounts. "Bank presents", maybe?