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Backyard,
Mattress & Other Safe Money Places
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The usual definition of safe money is
money you cannot afford to lose. This
site defines a safe money place as one where your principal is protected
from loss as long as you follow the initial guidelines, and if you do
decide to take your money and leave, you know pretty much what leaving
early will cost. The opposite is a risk money place where if you decide to
take your money you don’t know what you will get back. It could be more
than you put in – risk money places offer the potential for much higher
returns than safe money places – but it could also be less than you
started with or even zero.
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This website describes and compares various safe
money places. It is designed to give consumers the facts, or at least what
we think are the facts. It also provides the links to sources backing up data
used. Although opinions are given, the site tries to separate opinion from
fact.
Zero
Interest For I Bonds
How Safe Is My
Bank
FDIC does not publish any ratings regarding the financial safety of banks,
but six independent firms do. The ratings are typically available to paid
subscribers, but Bauer Financial (http://www.bauerfinancial.com/btc_ratings.asp)
will tell you their rating for a bank simply by filling in the state and
bank name.
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You
cannot buy anything on this site and there are no sponsored links, cookies
or popup ads. Links to other web sites are clearly noted. If you have questions on safe money topics we will do our
best to answer them, please use the Ask Sam or Sue link and we will try to publish the answer on
the site.
The
site is published by Safe Money Places LLC based in St. Louis, Missouri. If you want to know more about us feel
free to click Who We Are.
May
you find your ideal Safe Money Places
Free
Savings Bond Calculator 2
July 2009 - Dead Bank List 19
June 2009 - Dead Insurer List (update on
Standard Life Of Indiana) New
Money Savings Bond Rate
- 1 May 2009 (next rate announcement is 1 November)
I Bond Rate = 0%*
EE Bond Rate = 0.7% (a full 2.8% less than the minimum guarantee)
*the fixed rate for new I Bonds issued today is
0.1%, but since the rate of inflation is calculated at a negative 5.56% zero interest is
credited for I Bonds issued until November.
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Temporary
Increase In FDIC Coverage to $250,000
FDIC
insurance coverage has been increased from $100,000 to $250,000 for
all deposit accounts from now until the end of 2009. This means if
the combined checking, savings, money market accounts and CDs for a
single owner at one bank total $250,000 or less all deposits are
insured; joint accounts would be covered for up to $500,000 (IRAs
were already protected up to $250,000). The FDIC coverage is per
bank, meaning if one owner has $250,000 deposited at ten different
banks all deposits would be covered. Naturally, people should talk
to their banker to ensure they are fully insured in their own
situation. Credit Union accounts insured by National Credit Union Share Insurance Fund
(NCUSIF) have also been increased to $250,000 coverage. |
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Safe Money Places®