Episode Details
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144 - Pros & Cons of Different Savings Accounts
Published 4 years, 2 months ago
Description
Scott and James discuss the pros & cons of different savings accounts.
Listener Question
I'm hoping you could walk through the pros and cons of different higher-yield savings vehicles: high-yield savings accounts, money markets, and CDs. Especially how the planned federal interest rates raises may affect those.
Planning Points Discussed
- Retirement Planning
- Utilizing Time Efficiently
- Capital Appreciation
- Purchasing Power
- Other issues (IRAs, Inflation, Financial Goals, etc.)
Timestamps:
3:57 - Bank Lending
7:23 - Bank Differences
10:33 - Savings Rates
13:30 - How Banks Make Money
15:18 - Interest Rates
17:29 - High Yield Savings Accounts
LET'S CONNECT!
James
Scott
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