Personal Finance Blog By MoneyRates - Certificates Of Deposit
Bank customers choosing savings and money market accounts over CDs
September 14, 2010
Amid the tough economy, consumers are keeping more of their cash liquid and less of it tied up in CDs, according to Market Rates Insight, a San Anselmo, Calif. market research firm for banks and credit unions. Although total security deposits dropped in the second half of 2010, deposits in money market accounts, savings accounts [...]
Unemployment, underemployment and interest rates
August 17, 2010
If you think unemployment is bad, consider the number of people who are underemployed. By Gallup's reckoning almost one in five people -- 18.3 percent of Americans -- either don't have jobs or are working part-time and want full-time employment as of mid-August. The research outfit's numbers are based on on more than 15,000 phone [...]
Emergency savings accounts need a boost, study finds
July 27, 2010
About a quarter of Americans think the economy and their personal financial situations will be worse this year than last year, according to The 2010 MetLife Study of the American Dream released July 26. That sounds pretty grim, considering how bad the last couple of years have been. But the results actually show significant improvement [...]
Retirement Savings: More Americans Worry They Won't Have Enough
July 6, 2010
As the recession's effects linger, worries about retirement savings grow. About a third of Americans are concerned they won't have enough income and assets to finance their retirement, up from 25 percent in February 2009, according to a new survey by the Pew Research Center's Social and Demographic Trends Project. Many of those already at [...]
'Frugality Fatigue': Could Higher Spending Lead to Higher Savings Rates?
June 15, 2010
In releasing its latest poll on consumer spending, Gallup coined a new syndrome with which most of us can relate: "frugality fatigue." Who, after all, hasn't grown tired of clipping coupons, putting off big purchases and saving every spare dime, only to find savings rates at minuscule levels during the recession? Unfortunately, the rich apparently [...]
Will Your Savings Be Safe in 2014?
June 1, 2010
Before the financial crisis blew up two years ago and bank failures became a routine news item, you might not have thought much about FDIC insurance. So it's easy to understand how thousands of IndyMac Bank customers were caught underinsured when the bank failed in July 2008. At that time, the FDIC insurance limit was [...]
"Health Help" Tax Could Take a Bite Out of Higher CD Rates
April 8, 2010
Savings investors who are patiently awaiting the time of higher CD rates got a bit of bad news last month: The new health reform plan includes an extra 3.8 percent tax on "unearned income" for individuals and couples making more than $200,000 in total income for the year. This new tax is intended to shore up the [...]
When Will Inflation Expectations Lift CD Rates?
April 28, 2009
Recent economic releases have increased the optimism of some market analysts about the U.S. economy, although you may have to listen or read very carefully to find the good news. The glimmers of hope are hidden in phrases like, "the pace of declining home sales has slowed" or "growth was forecast to be worse than [...]
$8 Billion CD Fraud Alleged. What Will You Pay For Risk?
February 24, 2009
The SEC claims a banker defrauded investors in an $8 billion CD scheme. Peter G. Miller looks at the motivation behind such investments.
Do You Deserve More For Your CD?
February 20, 2009
Almost $130 billion has been paid out to financial managers in the past few years, money that savers and investors didn't get.
