CD and high-yield savings accounts both have features that seniors should closely consider before starting. Franziska & Tom Werner/Tom Werner/Getty Images A new report this week showing inflation rising to its highest level in three years was just the latest in a series of economic developments that have left many Americans scrambling for ways to … Read more
With inflation rising, savers should strongly consider moving their money into a high-yield savings account. Javier Ghersi/Getty Images Inflation is now at 4.2%, a Wednesday report from the Bureau of Labor Statistics revealed, bringing it to its highest level since April 2023. But that report isn’t just a status update. It should also function as … Read more
There are two primary savings account types that will help savers outpace today’s rising inflation rate. twomeows/Getty Images It may not have been unexpected, but it was still jarring to see. Inflation is now over 4% again, a Wednesday report revealed, and is currently sitting at its highest level since April 2023. At 4.2%, the … Read more
Many Americans spend decades saving for retirement. But far fewer have a plan for the equally important task of spending that money once they stop working. That financial challenge, known as “decumulation,” refers to how retirees draw down their assets to fund their lifestyles while ensuring they don’t run out of money. Only 31% of … Read more
An $8,000 deposit will grow differently in a CD than it will in a high-yield savings account over the next year. Getty Images/iStockphoto Whether you have tens of thousands of dollars saved right now – or a smaller amount such as $8,000 – you’ll want to make sure that it’s being kept in a secure … Read more
Interest on your $70,000 will grow differently based on the account it is kept in. Getty Images/iStockphoto If you have $70,000 sitting in your bank account right now, you may be overwhelmed with your options. You can use that money to make a significant down payment on real estate, for example. Or you can buy … Read more
Savers anticipating a Social Security cut should start exploring ways to boost their savings accounts now. DNY59/Getty Images Social Security recipients may have to make up a shortfall of as much as $500 each month. That’s according to a new report released this week that outlined a scenario in which the program’s retirement trust fund … Read more
NEWYou can now listen to Fox News articles! President Donald Trump on Wednesday touted Vice President JD Vance’s anti-fraud efforts and claimed Republicans are uncovering enough government fraud to potentially balance the federal budget, while accusing Democrats of resisting investigations because they are “in on the act.” In a Truth Social post, Trump praised Vance … Read more
A CD account could be a viable home for your $90,000 in today’s high-rate economic climate. witthaya_prasongsin/Witthaya Prasongsin /Getty Images Storing your $90,000 in a savings account may feel unconventional, but in today’s unique economic terrain, taking an unconventional approach may be exactly what’s needed. With inflation now at its highest point in three years, … Read more
Interest earnings on a $150,000 high-yield savings account will stack up fairly quickly. PHIL LEO/PM Images/Getty Images When you have a large, six-figure amount of money saved, the investing options that present themselves are numerous. Stocks, known for big losses but double-digit returns, historically, are worth considering, as are bonds. Real estate is another viable … Read more