by Chad Surges
I have tried for a few years now to get my parents to switch from their traditional low-interest brick and mortar savings account. However, they are stuck in their low minimum investing lifestyle. They simply have no desire to learn about investing because they were raised in a time when you worked hard and then harder for your money.
In my opinion, the traditional savings account that offers tiny, tiny, tiny, interest is old news. There simply is no reason anyone with computer access should not have a high-yield online savings account instead of a useless brick-and-mortar savings account.
With that being said, one of the most under appreciated markets I have come across in the past year is the world of high-yield savings accounts mainly offered by online banks. ING as an example offers a 4.50% interest rate on a simple basic savings account. Compare that to what many of you reading this probably get in a typical savings account from your hometown bank and I think you will find a huge difference.
Setting up a high-yield online savings account is very simple and can be linked directly to your current checking account. This makes it simple and easy to transfer money to and from each account and of course they are all FDIC insured.
So if you are the very conservative type when it comes to investing a high-yield online savings account may be your perfect fit.
About the Author
Author: Chad Surges Degree: Bachelor of Science (Business) 1996 Work Experience: 10 years as a Logistics Executive
Owner: http://www.lucky-dog-investing.com