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Online Savings Accounts:
An online savings account is an easy way to save while also earning a better interest rate than normally provided by your local bank. If you micro manage your money you can actually make even more using an online account.
Upside: Get a higher than traditional rate if you shop around properly. Not as easily accessible as your normal savings account so you are less apt to put money here that you are going to take out quickly. You also may qualify for account opening bonuses up to $50.
Downside: This money can take a few days to transfer back into your personal checking.
Brokerage Accounts - Stocks and Bonds:
This section will eventually have its own pages. The key to this section will be that all young professionals should have some sort of portfolio in stocks and bonds. If you do not have a large amount of funds to put towards a brokerage account consider joining a share building program or going the direct purchase route that a number of larger companies offer. Check back soon for more in depth coverage.
Money Market:
This in my opinion is really just a little different than a checking account. You earn a slightly higher rate on your money with slightly restricted access. Generally you have the ability to transfer money out or write checks against your money market account. A higher yield can be achieved with an online savings account tied to your checking.
Certificates of Deposit (CD’s):
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