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"Options for Savers Seeking Better Rates"
Here it is anyway ... nothing to get really excited about IMO.
See >>> http://www.nytimes.com/2012/07/14/your-money/brokerage-and-bank-accounts/interest-starved-savers-have-some-options.html?_r=1&ref=your-money-email&nl=your-money&emc=edit_my_20120716
If you’re a saver, you’re probably frustrated, even angry. There’s nothing worse than being punished for good behavior, and that’s exactly how it feels if you’re trying to amass a pile of cash before making a big purchase, particularly when banks pay interest rates that don’t come close to keeping pace with inflation.
That frustration is precisely what prompted Mark Sweeting, a high school history teacher in Portland, Ore., to pull his emergency savings fund out of an online savings account at ING Direct. It had lured him two years ago with an annual rate of 1.25 percent that has since dwindled by more than a third.
“It just seemed so obnoxious,” he said, adding that he recently moved his money to Barclays, which is paying 1 percent. “The more money I had in my emergency account, the less and less it made.”
He said that he was well aware that his new rate might eventually sink, too, but that he would continue playing the rate-chasing game.
Other consumers are tempted, or at least curious, about potentially riskier options beyond the world of federally insured savings — perhaps short-term bonds or dividend-paying stock funds. But what sort of trade-off does that entail? And are there any safer alternatives?
That frustration is precisely what prompted Mark Sweeting, a high school history teacher in Portland, Ore., to pull his emergency savings fund out of an online savings account at ING Direct. It had lured him two years ago with an annual rate of 1.25 percent that has since dwindled by more than a third.
“It just seemed so obnoxious,” he said, adding that he recently moved his money to Barclays, which is paying 1 percent. “The more money I had in my emergency account, the less and less it made.”
He said that he was well aware that his new rate might eventually sink, too, but that he would continue playing the rate-chasing game.
Other consumers are tempted, or at least curious, about potentially riskier options beyond the world of federally insured savings — perhaps short-term bonds or dividend-paying stock funds. But what sort of trade-off does that entail? And are there any safer alternatives?
See >>> http://www.nytimes.com/2012/07/14/your-money/brokerage-and-bank-accounts/interest-starved-savers-have-some-options.html?_r=1&ref=your-money-email&nl=your-money&emc=edit_my_20120716
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