Comments on: Daily Briefing, Monday February 11, 2008

By: gingin

gingin — Wed, 23 Dec 2009 00:08:44 +0000

The Food and Drug Administration (FDA) has nothhig to do with banking – are you talking about moving money from an IRA or 401k to a NON-IRA or 401k account (that will trigger taxes and possibly early withdrawal penalties if you are under59-1/2

and money market accounts are paying maybe 0.3% if you are lucky – makes no sense

By: June

June — Tue, 22 Dec 2009 14:01:23 +0000

Credit Unions are not FDIC insured. When comparing banks, I use bankrate.com, they compare interest rates on savings accounts, credit cards, and mortgages. Some accounts require you to have $5,000 or $50,000 to get the best rate.

If you don't have one yet, you should look into opening an IRA and investing the money you would otherwise put in the savings account. Depending on your risk tolerance, you can find investments that meet your needs.

By: iMelissa

iMelissa — Tue, 22 Dec 2009 06:28:28 +0000

I thought CitizensBank out of Vancouver was offering 4.15% on savings accounts, similar to ING but with a better rate (ING is offering 3.65% right now on savings).

Edited to add: Citizens Bank "Ultimate Savings Account"

https://www.citizensbank.ca/Personal/Products/BankAccounts/UltimateSavingsAccount/

with an interest rate of 4%.

By: MsBurgundy

MsBurgundy — Mon, 21 Dec 2009 17:47:45 +0000

go to bankrate.com

By: Jay B

Jay B — Mon, 21 Dec 2009 05:47:19 +0000

CD's are one of the worst places for retirement investing. You'll lose on the purchasing power of each dollar, over time, because of inflation & the taxes you'll pay when you pull the money out (at over ager 59.5).

Stay away from banks & insurance companies for retirement products. Here's some good mutual fund families that can be helpful;
T. Rowe Price
Dodge & Cox
Vanguard

Good luck!

By: Shrenik S

Shrenik S — Mon, 21 Dec 2009 05:07:11 +0000