I have an ING Orange Savings account. I thought I was earning something like 4.5% or something. I found out today that I am earning a paltry 1.5% on it. Where did that come from? Can anyone else offer any solutions on a highly liquid financial storage solution where we can dump our "emergency/rainy day" cash where it will actually bring in a return?
I'm not sure how I ended up with such a huge disparity in my perception on that savings account yield? Didn't ING used to offer attractive savings rates? Am I delusional? Anyone? I have been shamelessly pimping their (apparently non-existant) greatness for years now. I feel so violated...
3 comments:
I too love my ING savings. (Did I put you onto them?) I still think they are a very solid choice for a place to keep you rainy day funds. I love that you can set up multiple accounts in the same interface to save for different things. Good ROIs are hard to find anywhere these days. Look at the CD rates! Orange is right there with them. The way they can keep their rates competitive is by not making a commitment to any one rate for any period of time. (If the price of money goes down they can follow)
There are however competitors in the market ING build now. See this post http://www.getrichslowly.org/blog/2007/03/21/which-online-high-yield-savings-account-is-best/ I love that blog by the way.
After the stock market hosing my retirement accounts, I have come to love those 1 or 2% guaranteed returns. At least they are always positive.
Cuz, you want to buy Treasury Inflation-Protected Securities (TIPS). These keep you just ahead of inflation, and these days, inflation is higher than your ING account.
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