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Is this really true? As in, are savings accounts in the US essentially useless now? I don't know about the rest of the world, but in NZ standard saving account
by SCdF 14y ago
Is this really true? As in, are savings accounts in the US essentially useless now?
I don't know about the rest of the world, but in NZ standard saving accounts are ~2%, and more investment focused (fixed term and variants) are 4-6%.
- cageface 14y agoIt's better than stuffing the money in a mattress, but not much more. Typical savings account interest rates are < 1%.
- jmitcheson 14y agoI assume that the parent poster meant that granny is having the real value of her cash savings eroded through inflation because of the zero percent interest rate @ the US fed