No one likes it because you don't earn much money on cash, but you can a little bit if you put some effort. Your local bank and the big banks, they are counting on your inertia to not move your money. If you're willing to go with an online bank, you can get a savings account that is over 4%. You can get CDs that are almost 5%.
The Federal Reserve has raised interest rates 10 times since 2022. But you probably wouldn’t notice those hikes in a traditional savings account. Dylan Lewis caught up with Robert Brokamp to discuss: - How banks benefit from your inertia, and how that costs you - Ideas for managing cash for the next few weeks, months, and years - Money market funds paying more than 4%, and the caveats to understand before utilizing those accounts - Who can benefit from I Bonds and less-liquid savings vehicles Website mentioned: https://www.fool.com/the-ascent/ Host: Dylan Lewis Guest: Robert Brokamp Producer: Ricky Mulvey Engineer: Rick Engdahl
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