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June 14, 2011
People often dream of inherited wealth and fantasize about all the things they would do with the money. Most people talk about buying a mansion, cruising around the world in a yacht, taking lavish vacations, and engaging in shop-a-thons. While it can be fun to indulge in material things, the smarter thing to do is make investments to expand wealth.
Inherited wealth usually arrives in the form of inheritance from a deceased relative. However, large sums of money can also be awarded through lawsuits, financial investments, real estate investing, and lottery winnings.
June 16, 2010
For many Americans, savings account equates to a piggy bank. With skyrocketing unemployment and foreclosure, millions of citizens barely have enough money to pay their bills, let alone save for the future. But, the truth of the matter is people need to set aside money for unexpected expenses, investment opportunities, and retirement.
Establishing a savings account can be accomplished from the comfort of home, as many financial institutions offer online banking. However, consumers should take time to conduct research in order to obtain the highest rate of interest and avoid transaction fees
May 31, 2010
High interest savings account refers to bank savings accounts that pay a higher annual percentage yield than traditional accounts. Prior to the banking crisis, the average rate of interest for savings accounts varied between 2-1/2 and 5-percent. Today, the average interest rate is less than 1-percent.
It is crucial for consumers to comparison shop high interest savings account providers in order to obtain the highest return on investment. Financial experts recommend seeking out banks that compound interest daily. Many banks compound interest on a monthly or quarterly basis which can substantially reduce the accrued interest; defeating the purpose of placing your money into a high interest savings account.
May 13, 2010
High interest savings account is somewhat of an oxymoron as the average rate of interest is around 1.30 percent. In order to obtain the best rate of interest, consumers need to spend time comparison shopping banks and credit unions. Spending an hour or so online can help consumers earn upwards of an additional 1/2-percent or more.
One trusted source for comparing high interest savings account providers is BankRate.com. This website provides links to nationwide lenders along with an overview of intro rates, minimum opening balances, monthly service fees, and annual percentage yield (APY).