Right now you are getting some of the lowest interest rates for CDs we have ever seen. The economy is in such a slump and these low interest rates are hurting anyone with money to invest. This includes seniors who typically like to put their money in risk free investments such as bank CD’s so that they can earn interest income. The news rarely covers the plight of seniors because they are a minority but right now is a rough environment financially for them too.
Tags: bank cd, free investments, interest income, low interest rates, plight, rough environment, slump
1 Comment // Posted on September 30, 2009 // Finance
Interest rates are very low right now and while that helps one segment of the population, it hurts another. People who want to buy expensive things like cars can get a better rate on their loans and so they are happy that interest rates are low. However, anyone with money to invest who wants to do it safely will not be getting a rate they are happy with. Right now the best money market rates and CD rates are so low that those who count on interest income to pay some or part of their bills are in big trouble. Older folks and retired people usually have much of their money invested in these safe vehicles that are right now paying very little. This is putting tremendous stress on that part of the population with no end to these low rates in sight.
Tags: best money market rates, big trouble, cd rates, interest income, low interest rates, money market rates
No Comments // Posted on August 21, 2009 // Finance