Will Your Retirement Savings Run Out?

Delaying retirement is sounding better and better — or at least smarter and safer — given the growing number of studies showing so many of us aren’t saving enough for retirement.
Among the latest are findings by the Employee Benefit Research Institute (EBRI), which says a dramatic percentage of people — even those in upper-income brackets [...]

Dying or Running out of Savings: Which Scares You More?

Sure, death is scary. But even more frightening to most Baby Boomers is the prospect of running out of money.
Roughly six in 10 people said they feared outliving their income more than dying, according to a new survey by Allianz Life Insurance Co. of North America, which polled 3,200 people in May ranging in age [...]

Retirement Savings: More Americans Worry They Won’t Have Enough

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 retirement age [...]

‘Frugality Fatigue’: Could Higher Spending Lead to Higher Savings Rates?

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 are the [...]

Making Sense of Unemployment Numbers

With the announcement on Friday that the U.S. economy added 290,000 jobs in April–the biggest monthly gain in four years — you’d think we’d be hearing champagne corks popping across the country.
Unfortunately that statistic was accompanied by another, less uplifting number. The unemployment rate rose from 9.7 percent to 9.9 percent.
What Gives?
The first number comes [...]

Strength of FDIC Fund Could Affect Bank Rates and Security

It has been widely reported that the FDIC’s deposit insurance fund has been rapidly declining, raising concerns that it might require special funding soon to support the growing number of banks classified as troubled. In response, the FDIC has publicly clarified its accounting to show that the fund is not actually declining nearly as rapidly [...]

Black Swans and Savings Rates

Sometimes scientists are confounded. Take the black swans for example. When they were discovered in Western Australia it was considered an impossibility. One day there was no such thing as black swans and the next day there they were. Today the term ”black swans” refers to major unpredicted events. September 11, 2001 is an example. Although the events leading up [...]

Blue Chip Financial Stocks vs Bank Savings Accounts

It was not that long ago that the bluest of the blue chip stocks including financial services giants like AIG, Citigroup, Bank of America, Capital One, Wells Fargo, and American Express were must-have stocks for any portfolio. A blue-chip financial stock meant stability and long-term growth. Even the dividend yields of the blue-chippers would consistently [...]

Investor Interest Rate Update

Interest Rate Update: January 5, 2009:

The Federal Reserve has lowered interest rates in the United State to historic lows pushing down yields on most savings instruments. Current rates and yields include:

3-month Treasury Bill: 0.08% yield

6-month Treasury Bill: 0.28% yield

1-year Treasury Bill: 0.38% yield

2-year Treasury Bill: 0.81% yield

3-year Treasury Bill: 1.07% yield

5-year Treasury Bill: 1.66% yield

10-year [...]

Banks and Credit Unions Paying Higher Interest Rates

CD Rates, Money Market Rates, Savings Rates, and Checking Rates have all increased this week with 4%, 5%, and even 6% rates available from FDIC-insured banks. Unique rate deals this week include:
10.00% APY from Shore Bank on their Grand Slam checking account for balances from $.01 to $1,000. Must live in eligible county in Maryland [...]

Health Savings Accounts with over 5% Taxable Equivalent Yields

Health Savings Accounts (HSAs) are designed to help individuals enrolled in a HDHP (High Deductible Health Plan) save money for current and future health care expenses. Money can be set aside in a HSA pre-tax and the money is controlled by the account owner. While it is possible to invest the funds in mutual funds [...]

Wachovia Bank’s Way2Save Savings Program with a 5.00% APY

Wachovia Bank has a savings program called Way2Save that links a Wachovia checking account to a Way2Save account and credits the account $1 for each check card purchase, automatic debits from your checking account, and online bill payments. To build balances even faster, you can set up an automatic transfer, up to $100 each month, [...]

Online Bank Rates Increase at a Few Banks

Online bank deposit rates have been reset upwards at a few select banks in the last week in a surprise move because of the growing expectations that the Fed will lower interest rates another quarter-point or half-point at the March meeting. The vast majority of banks have revised their deposit rates to below 4.00% and [...]

Bank of America a "Go" to Purchase Countrywide Bank

Bank of America Corp. stated it’s committed to buying Countrywide Financial Corp which includes Countrywide Bank. “Everything is a ‘go’ to complete this transaction,” Bank of America Chief Executive Officer Kenneth Lewis said at an investor conference today, in reference to Countrywide. Depositors at Countrywide Bank will become customers of Bank of America when the [...]

5.50% APY on a Patriot Bank (Texas) Savings Account

Patriot Bank, a regional Texas bank, is offering a 5.50% APY on savings accounts opened with a minimum of $100. A visit to one of the Texas branches is required to earn the stated APY.
More FDIC-insured savings account yields here.

Umbrella Bank’s 5.83% Green Day Savings Account Rate

Umbrella Bank is a division of New South Federal Savings Bank (FDIC#32276) a $1.4 billion bank based in Alabama. Umbrella Bank has been a consistent leader in offering deposit rates on money markets, savings accounts, and short-term CDs to online investors for over 5 years. Umbrella Bank has a 90-day introductory rate of 5.83% on [...]

iGObanking.com’s Online Rate Specials

iGObanking.com is the online division of Flushing Savings Bank FSB (FDIC# 16049) located out of New York City, New York. Flushing Savings Bank has over 1.6 billion in deposits and a 80-year banking history in New York.
iGObanking.com is offering a 5.30% APY (annual percentage yield) savings account with no fees and no minimums in addition [...]