02.19.25 Your Savings Rate / Running Out Of Money In Retirement

10 snips

Feb 19, 2025

Discover how to maximize your savings amidst banks like Capital One being accused of shortchanging customers. Learn why it's vital to save smartly, as even high earners can struggle financially. Delve into effective strategies for retirement, including the importance of a Roth 457B plan. Explore the risks of certain loans and the need for a solid emergency fund. Lastly, understand how informed investment decisions can lead to lasting financial security.

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ADVICE

Maximize Savings Interest

Don't get ripped off by banks on savings interest rates.
Regularly check your interest rates and move your money to high-yield options.

ANECDOTE

Capital One Savings Account Issue

Capital One allegedly cheated customers with a deceptive savings account.
They offered a nearly identical "Performance" version with significantly higher rates.

ADVICE

Emergency Fund vs. HELOC

Avoid investing your emergency fund and relying solely on a HELOC.
Having accessible savings is crucial for unexpected expenses.

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