Making your money work for you is hard work!

Today I read an article in USA Today, authored by Sandra Block. You can read the whole article here. Basically, the author was outlining a number of ways you could see better returns on your money. In the words of the author, "There's a reason most banks don't promote their CD rates: They're horrible. The average rate for a one-year CD last week was 0.44%, according to Bankrate.com. Most big banks are paying less than 1% on their savings accounts."


She goes on to say that some seniors who depend on the income from their saving accounts buy the long term CD's to get a little higher interest rate, only to cash them in if they need the money and pay the penalty for the surrender prior to the cd's maturity. Now that could be considered cleaver, but what if the penalty is more than the interest they received? The author points out that some banking institutions and perhaps your local credit union charge as much as one year's interest as a penalty for early surrender!

She points out that there are now instuments such as bump up CD's, I Bonds, premier checking accounts and online saving accounts that can help you to get more interest on your savings. That is all well and good. But ask yourself how many people have the time to shop for such financial instuments amidst their busy schedules! I cannot imagine having to do all that work just to get a few dollars more per month and let's face it, neither will most of you!

No, the author has not missed the boat. Rather, she is right on and makes great points of suggestion. She implies (or I have inferred!) that it is no longer just one trip to the local credit union and you are done. The problem is that you have to work hard for those few extra dollars and in the end, is it worth it? Who has that kind of time or the discipline to conduct all those transactions required to get a slightly higher interest rate? That said, the idea of banking is not a bad one. It is a great one. But, the vehicle you choose for your banking is key!

You want your saving plan, especially your retirement saving plan to have features like:

• Guaranteed Growth with No Loss of Principal
• Have Penalty Free and Tax Free Access to the money at any time regardless of your age
• Have no Government Control. It is your money to use as you see fit.
• Have your saving plan be Creditor and Lawsuit proof
• Never have to pay any fees to a financial planner

I believe that many of you have the ability to bank more efficiently but do not have the information you need to get started! There is a free Online seminar that you can watch. It will explain how banks lend and how privatized banking works as well. Learn the secrets of banking that the big banks will not tell you and learn how to take control of and manage your money so that it works for you 24/7. This is not rocket science. Rather, it is learning the practices that have beensucessfully used by many for hundreds of years. View the seminar !