How to squeeze out higher interest rates from your savings
By Sandra Block, USA TODAY
When the Federal Reserve pushed interest rates higher in the late 1970s to bring down inflation, angry farmers drove their tractors to Washington, D.C., and blockaded the Fed's headquarters.
The Fed's current stance on interest rates has just as many detractors, but most of them are too old, weary or poor to board a bus for the nation's capital. The Fed reiterated last month that it intends to keep rates near zero through 2014. This policy, aimed at boosting the struggling economy, has been a boon for borrowers, but savers have suffered. Interest rates on most bank accounts, certificates of deposit and other low-risk investments aren't even keeping up with inflation.
One way around that is to take more risk, but many seniors are unwilling to take chances with their retirement savings. Similarly, investors who are building an emergency fund or saving for a short-term goal need a safe, easily accessible place for their money.
To read the entire article By Sandra Block, USA TODAY:
http://www.usatoday.com/money/perfi/columnist/block/story/2012-05-07/making-more-money-on-savings/54813920/1
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