If your Checking Account typically has a balance over $2,500 you may want to consider opening a Money Market Account to earn interest.
You can open a Money Market Account with an initial deposit of $2,500. As long as your balance stays over $1,000 you’ll continue to receive interest on your funds. There are no monthly service fees unless your account balance drops below $500.
A Money Market Account is not the type of account you pay your daily bills from. It’s designed as a way to keep a sizeable amount of savings available so you can write a sizeable check at any time.
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[BLOG POST] A recent Nationwide Retirement Institute survey finds nearly two in five retirees (37 percent) admit they did not consider how taxes would affect their retirement income when planning for retirement.
As a result, they may have lost the opportunity to save an additional six years' worth of income in retirement. Read more...
