It Is Hard To Make Money With Low Interest Rates
If you have spent any time this year looking for good interest rates, you probably know what a waste of time that is right now. Both certificate of deposit rates and money market rates are lower than most of us can ever remember. With the economy doing so poorly, things may not change for quite a while.
It is difficult for anyone to make much money from interest in this economic environment. The phrase "time is money" doesn't apply much anymore because no matter how long you are willing to loan your money to a bank, you will not get much in return. People who are used to having interest income from their investments have not been doing well for quite some time.
If you want to find the best interest rates, you need to have access to the Internet to find them. If you just go down to your local group of banks, you will most likely not find the highest rates that are available. Doing a nationwide search online is the only way to discover banks that are giving promotions and better rates than you can get at home. Luckily, you should be able to invest your money with them even though they may be thousands of miles away.
With the stock market having performed so poorly for the last couple of years, people have wanted their money in cash and very safe investments. Traditionally these 'safe' investments pay lower interest than more risky ones but never as low as they have been this year. It is hard to make anything worthwhile with rates this low.
Many people don't care about interest rates because they have no money to invest. Those folks don't care about the stock market or interest rates and don't seem to understand how everything is intertwined and affects us all. Those people have never bothered to save (or have been unable to) and are depending on the government to pay them social security upon retirement. With things going so badly with all business and the government being in more debt than ever before, let's hope they are able to collect that government social security when they come of age and need it. - 23218
It is difficult for anyone to make much money from interest in this economic environment. The phrase "time is money" doesn't apply much anymore because no matter how long you are willing to loan your money to a bank, you will not get much in return. People who are used to having interest income from their investments have not been doing well for quite some time.
If you want to find the best interest rates, you need to have access to the Internet to find them. If you just go down to your local group of banks, you will most likely not find the highest rates that are available. Doing a nationwide search online is the only way to discover banks that are giving promotions and better rates than you can get at home. Luckily, you should be able to invest your money with them even though they may be thousands of miles away.
With the stock market having performed so poorly for the last couple of years, people have wanted their money in cash and very safe investments. Traditionally these 'safe' investments pay lower interest than more risky ones but never as low as they have been this year. It is hard to make anything worthwhile with rates this low.
Many people don't care about interest rates because they have no money to invest. Those folks don't care about the stock market or interest rates and don't seem to understand how everything is intertwined and affects us all. Those people have never bothered to save (or have been unable to) and are depending on the government to pay them social security upon retirement. With things going so badly with all business and the government being in more debt than ever before, let's hope they are able to collect that government social security when they come of age and need it. - 23218
About the Author:
Please go to my website if you are looking for more information about the best money market interest rates. You might also be looking for high yield money market accounts.
posted by X - Men @ 1:15 AM
0 Comments
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home