As people get smarter about their savings, more banks are offering a high-yield savings option.
The money isn't invested, meaning there's no risk, and you can take it out earlier than you plan if you must, unlike with a CD. However, did you know that saving large sums in a checking account, or even a traditional savings account, isn't much better? It's more secure than your mattress, sure — but it's not growing. Checking accounts, and even traditional savings accounts offered by big banks, generally offer a fraction of a percent in interest, meaning over time, your cash is worth less as inflation marches on.
The only difference between regular and high-yield savings that matters is the one that earns you 20 times more on your money
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
My financial adviser's advice changed how I see my retirement savings - Business Insider'The one thing you don't want to do is treat your retirement accounts like an emergency fund,' she told me. And now I'm resolved never to do it. Do People understand Importance of Financial Literacy?
Source: BusinessInsider - 🏆 729. / 51 Read more »
10 things in tech you need to know today - Business InsiderBusiness Insider found where Amazon is building a factory to make internet satellites, and over 3,000 Ring users' passwords were leaked online. This is the 10 tech news you need to know this Friday.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Early DoorDash backers saw big things ahead for the food-delivery firm - Business InsiderDoorDash, the $12.7 billion food delivery startup, could make or break tech IPOs in 2020. Early investors explain why they backed the company and its founder. If you want luke warm food that might have been partially consumed...you should definitely go all in.
Source: BusinessInsider - 🏆 729. / 51 Read more »
The 5 things socially intelligent people do, according to a career coach - Business InsiderAdopt the mindset of a student and learn from the perspectives, thoughts, and feelings of the people around you.
Source: BusinessInsider - 🏆 729. / 51 Read more »
13 things mentally strong people don't do - Business InsiderAmy Morin wrote in her book '13 Things Mentally Strong People Don't Do' that developing mental strength is a 'three-pronged approach.' this fly's in the face of everything the democrats are saying LOL They probably don't read such posts either
Source: BusinessInsider - 🏆 729. / 51 Read more »
After I got pregnant, the first thing I bought was life insurance - Business InsiderBuying life insurance, building an emergency fund, saving for retirement. They're all things we know we should do, but don't always make the time.
Source: BusinessInsider - 🏆 729. / 51 Read more »