Savings accounts and short-term CDs pay you almost nothing, while the bank that’s holding your cash is in turn loaning most of your cash out at much higher rates. The Federal Reserve has promised to keep rates low through 2014. They don’t have a choice. If rates start to climb, our government won’t be able to afford the interest on our debt. That means it’s going to be a long time before savings accounts and CDs even pay well enough to keep up with inflation.

There are other options, but they involve increasing risk to achieve higher returns. This is true for every investment so don’t let anyone convince you otherwise. Even annuities which promise to go up when the markets are up and not fall when markets fall have escape clauses in their fine print. They’re not going to lose money on your contract…in fact, they’re going to make more than they promise you’ll make.

If you’re tired of your bank paying you nothing while they’re loaning out your money and making money doing it, call us. We might be able to come up with a better strategy for your money while maintaining an acceptable level of risk. The only initial investment required of you is a little time. The conversation is free, there’s no obligation and there’s never any high-pressure sales pitch.