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

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Scott

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