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> low risk saving accounts No, the interest rates for retail savings accounts are zero (or near as makes no difference), and have been for at least two decades
by ohazi 5y ago
> low risk saving accounts
No, the interest rates for retail savings accounts are zero (or near as makes no difference), and have been for at least two decades. Basically everybody knows that they are completely useless by now, and that even "regular" people need to move to bonds or stocks in order to see any kind of return.
- SavantIdiot 5y agoI switched to interest free accounts simply because I got tired of having to add a few dollars (or less) of interest to reconcile my Quicken accounts at the end of every month. Such a joke. I remember when an ING money market was paying like some crazy 4 or 5% in the late 90's.
- ceejayoz 5y agoThose 4-5% interest rates on savings came with vastly higher rates in other areas, though. Mortgage rates of 10% versus today's 3% or so. They just follow the Fed funds rate up and down.
- SavantIdiot 5y agoOh yeah, that's a really important point. My first mortgage was 8.5% ... on a $130k 2400sqft house in a metropolitan area that now goes for >800k on zillow.
- jedberg 5y agoING gave 5%, but mortgage rates were also 8-9% and car loans even worse. I remember my first car, which I got in December '99, had a 13.1% interest rate, and that was already at the lower end. So my point is it's all relative.