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Savings Account Bank - Why A Savings Account Bank Is Your Best Investment At This Point In Time

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Have you been paying attention to the economy? If you plan on saving for retirement, your children, or for any other reason, it would be a good idea to get up to date on what has been taking place. By reviewing the following information, you will have a better idea of why it’s so important to consider a savings account bank as your number one investment option. Traditionally, people put their money in the stock market for long-term investments. However, let’s take a look at the performance of the stock market for a moment. Many people feel as though the stock market just had a recent crash in 2008 and that was the end of it. To put it simply, they’re incorrect. First off, the crash of 2008 wasn’t the only crash of the decade. You might remember when the tech bubble burst. This took place in March of 2000, when the NASDAQ lost more than 50% of its value in a matter of weeks. A year and a half later was 9/11, which also had a massive impact on the markets. Finally, in 2002, the stock market began to reclaim lost ground. The only problem was that it was all being done with credit, not real money. This lead to a housing bubble, which burst in 2006. So, in the past ten years, we have seen two stock market crashes and the biggest burst of a housing bubble in history. The stock market has gone nowhere for ten years and real estate has lost 50%. Not only is this bad news if you were an investor in stocks or real estate in the past ten years, but it’s also bad news if you plan on investing in stocks and/or real estate in the near future. The stock market might be holding its own at the moment, but do you really believe that the biggest economic crisis since The Great Depression can be fixed in one year? What happens when government stimulus runs out and the Federal Reserve is out of ammunition? Unfortunately, what you will see is a similar pattern to 2008, but for a different reason. This time it will be due to deflation and debt, not just credit and surprise bank failures. What makes this worse than last time is that government stimulus will not be able to put a floor on the drop. This means the DOW could move well below 6,000, ending a 25-year run of success and greed.

So, what is your best option? Better yet, what is your safest option? If you want to save money without having to worry about losing it, you’re going to need to look into a savings account bank. There are many savings account banks to choose from, but if you want to go with one that has a solid reputation and has been in business for over 100 years, look at ING Direct. They have over 85 million clients in over 50 countries. They also have 130,000 employees, 10,000 of which are based in the United States. You can open a bank savings account at ING Direct in less than 10 minutes. All you need to do is apply online. The benefits are a 1.10% annual percentage yield (APY), no fees, no minimums, no bank charges, and around-the-clock customer service. ING Direct is also FDIC insured up to $250,000. This means that if the bank fails and you have less than $250,000, the FDIC will insure your money. In other words, you will get your money back. If you have more than $250,000, do not put it all in one place. Find several savings account banks and spread your money out. This is an excellent way to protect your money.

The 1.10% APY at ING Direct means a $10,000 investment will earn $110 in one year. Compare this to .22% for a money market account and .21% in a traditional savings account and you’re well ahead of the average investor. The potential you will have when investing with a savings account bank will be little compared to the stock market, but you can be financially murdered in the stock market. This is not even remotely possible with a bank savings account at a place like ING Direct. Now is a good time to consider your options. It’s also an excellent time to consider moving your money out of a dangerous stock market and into a savings account bank.

Savings Bonds Value - Determining a Savings Bond's Value [next] [back] Saving Money For College - Practical Ways to Save Money for College

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