144 - Pros & Cons of Different Savings Accounts
An episode of the Real Personal Finance podcast, hosted by Scott Frank and James Conole, titled "144 - Pros & Cons of Different Savings Accounts" was published on March 23, 2022 and runs 19 minutes.
March 23, 2022 ·19m · Real Personal Finance
Summary
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.) Timestamp...
Episode 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
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James
Scott
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