Tags: | savings | online banking |
2007-03-13 00:00
My New High Yield Savings Account That Actually Gains Interest
Being a poor student who only works a part time job, I haven't put a whole lot of thought or energy into saving for my retirement. Actually, I haven't really put much into saving toward anything thus far in my life - but the idea has been in the back of my mind for quite a while. I am after all no longer a teenager, and any financial advisor worth their salt knows that even a few years difference in when you start "saving for your future" can make a large difference in the amount of retirement money you will have at the end of your career. So, in addition to contributing to my 401k plan, in recent months I've opened a new savings account. I know what you are thinking, since when does a savings account actually gain any significant interest? Well, thanks to my financially savvy brother I looked into the high yield savings account offered by ING, and instead of earning 0.25% interest, I am now earning 4.5% interest in my "orange" savings account. Being a computer nerd, the best feature about this account was it's easy online setup. Now that I am actually adding money to my high yield savings, and gaining some relatively substantial interest, I feel even better about my retirement possibilities. As of right now I have less than $200 saved in the account, but I'm patient. Hopefully in the future I can branch out beyond a savings account, but for now I think I've found the best one available, and I'm happy about it. I suggest that anyone who feels like saving some money should look into this type of account - it definitely beats my old account.
- Kevin
Kevin (at) Upcsite (dot) Net
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