"Unexpectedly?"

May as well since the Fed has been raiding your savings via inflation for about 20 years.

Fools! I made 8 cents in interest last month alone. Don't work hard for your money, make your money work hard for you!

Yeah sorry, the Rich and Republitards got what they wanted, they broke us. But funny thing we don't buy the latest HD 3D TV, the latest model car, or the newest iShiat when we are broke. Sales on all consumer goods are in the toilet, guess they should have realized that broke mother farkers don't spend money.

It's very Keynesian of me, economically. I take money out of my economy when times are good and squirrel it away, to pull it back out of savings and stimulate my economy when times are bad.

This is true Keynesian economics.

It's just as the government should be working. Instead they borrow when times are good, and borrow more when times are bad.

Came here to see something from that guy who posts savings advice to everyone assuming an 8% return. Leaving disappointed.

Probably better to stuff your mattress with money these days and sleep better.

/remembers when saving accounts earned 4 percent interest
//today, it is not so much
///virgule

When I first had my savings account I got 4 percent interest on about $5000. (Which is $200). I now, about 10 years later, get 0.1% on $12000... which is $12 a year.

I'm desperately trying to find someplace to put my money to get better interest. I did see a credit union fund of some kind that was 3-years at 2.3% or something. At least I'll be close to inflation at that point.

There's a radio commercial here where they push a 0% savings account. They're sneaky about it, but they actually say 0.0% annual yield.

Most economists are surprised at everything, yet they never reach the logical conclusion that the money they spent going to college was wasted. From the economic growth of 1946 to the inflation of the high-unemployment 1970s to the run-up to our current mess, they've missed it all. It's like watching sheep freak out when the sun comes up every morning.

Slaves2Darkness: Yeah sorry, the Rich and Republitards got what they wanted, they broke us. But funny thing we don't buy the latest HD 3D TV, the latest model car, or the newest iShiat when we are broke. Sales on all consumer goods are in the toilet, guess they should have realized that broke mother farkers don't spend money.

They do realize that. That's why they've given us all the various bubbles over the last 40 years or so.

jake3988: When I first had my savings account I got 4 percent interest on about $5000. (Which is $200). I now, about 10 years later, get 0.1% on $12000... which is $12 a year.

I'm desperately trying to find someplace to put my money to get better interest. I did see a credit union fund of some kind that was 3-years at 2.3% or something. At least I'll be close to inflation at that point.

Have you looked into online banking? I just moved to Ally, and rates are .5% for an interest-bearing checking account and something like .8% for a money market. I've heard good things about ING too.

All that advice from your parents about putting money in savings? It's pretty much bull crap now. There's no reason not to have it in your checking account the way things are now. The fed's mad race to "stimulate" the economy by dropping interest rates to 0% did two things: It blew up housing prices way beyond where they should have been - and continues to keep them WAY higher than they should be; and it made savings accounts pointless - so the retirement bomb is just getting bigger and bigger and bigger with each passing year.