John Ewoldt Star Tribune Published 12:04 AM EDT Apr 1, 2019 Since 2013, consumers have been squeezed with savings rates hovering near zero percent. Many banks still aren’t paying much more than 0.05 percent even today on savings, despite several recent interest rate hikes by the Fed. No banks are yet paying the 5 percent rates seen in early 2000s to the recession on money market or savings accounts. Consumers may not realize is that it’s relatively easy to get a 2 percent return or even 2.4 percent Annual Percentage Yield (APY) without a $25,000, $10,000 or even $500 balance. How do you do it? Usually, you have to go online or through the personal savings arm of major credit cards such as American Express, Citi or Discover. If you move $500 in an account making 2 percent interest a year, you’d make $10 in interest the first year instead of the quarter. Yes, you only make a whole quarter at 0.05 percent in a year. If you have $5,000 in savings, you’re … [Read more...] about How to make 40 times more on your savings account
Precision isn't always possible when it comes to retirement planning. That doesn't mean you have to wing it and hope your savings don't expire before you do. Looking at the income, living expenses and life spans of today's retirees can help you make the right financial moves so your golden years aren't tarnished by an unexpected shortfall. WHAT'S AN "AVERAGE" RETIREMENT COST? Government and Gallup data reveal a lot about what retirement is like for Americans today. It starts at age 61, even though many tell Gallup they planned to work longer. And based on some morbid math — the average remaining life expectancy of someone who's made it to their early 60s (23.3 years), according to the Centers for Disease Control and Prevention — you should plan to be retired for at least a few decades. Your mileage may vary based on things such as your work (accountant versus rodeo clown, for example), diet, family health history and participation in extreme sports leagues. The average … [Read more...] about Could you live on your retirement savings for 23 years?
Carl Lamb, managing director of Almary Green Archant Our reader this week wants to know the best way to invest some savings in the short term - and avoid paying too much tax. Carl Lamb of Almary Green explains. I’ve been given some money – £20,000 – by my parents as part of their plan to reduce any inheritance tax that might need to be paid on their death. I’d like to invest it for a couple of years or so until I need it to buy a bigger house (I’m hoping to start a family soon). I’ve already used my ISA allowance this year so can you suggest please where I should invest my money and not pay too much tax on it?Response from Carl Lamb of Almary GreenFor this type of relatively short-term investment where you need to be able to guarantee the value of your money at the point when you need it, a cash investment account of some type is likely to be most suitable.If you invested in stocks and shares, for example, there would be a danger that markets … [Read more...] about Ask the Expert: How can I invest my savings without paying too much tax?
Allison Klein, The Washington Post Published 10:03 am PDT, Thursday, September 20, 2018 The bride was trying to stay calm. The 100-person wedding that she and her fiance, Andy Schneck, had been planning for the past year was unraveling. At the rehearsal the night before the wedding, their officiant slipped and fell on a gravel road. Her ankle swelled severely, and she was taken to a hospital from the rustic and remote wedding spot in Camden, Ohio. She would later have surgery. "I didn't want her to be hurt, but in the back of my mind I was thinking, 'Oh my gosh, what am I going to do?' " said Kelsey Schneck, 29. "I've been planning this for a year." Schneck had hired the woman nine months ago after searching the Internet, and the couple had met with her several times so she could tell their love story at their Sept. 1 wedding. "I thought, 'I am not getting married tomorrow,' " Schneck said. At that moment, a food-delivery guy from City Barbeque showed up with the … [Read more...] about As couple’s wedding was falling apart, an unlikely person saved the ceremony
By Bob D’Angelo, Cox Media Group National Content Desk BAKERSFIELD, CALIF. — A California man stepped in front of a man wielding a machete to help save a woman at a Starbucks in Bakersfield, KGET reported. >> Read more trending news Blaine Hodge, 27, was at Starbucks on Sunday when a man identified by police as Robert Daniel Rivas, 31, chased a woman that authorities said was a former girlfriend. According to a witness, Joe Harris, the woman came running into the Starbucks shortly after noon."She was panicked. She was saying 'help me' and then at one point she said, 'this guy's going to kill me,'" Harris told KGET. "Everyone else was running away and (Hodge) was the first person to run straight to the action. Recommended for you Recommended for you Recommended for you Most read 1 Palm Beach County mugshots: Arrest photos from Palm Beach County 2 Don’t shoot guns at Florence; ‘I can’t believe I … [Read more...] about Man steps in front of machete to save woman at Starbucks