Friends Don't Let Friends Earn Zero Interest (On Their Cash)
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Welcome to Saving Money with Andrew! From late 2008 until 2022, we lived in an almost zero-interest rate world. Bank accounts paid zero, new mortgages were well below 5% (sometimes much lower), and car loans with low interest rates or 0% promotional financing were plentiful. Many of us have lived our adult lives earning zero interest on our cash.
I have my cash with online Wealthfront—FDIC insured, 4.05% interest, no fees, no withdrawal or transfer fees or limitations. So far, they’ve raised the interest they pay every time the Fed raises interest rates.
I have my cash with online Wealthfront—FDIC insured, 4.05% interest, no fees, no withdrawal or transfer fees or limitations. So far, they’ve raised the interest they pay every time the Fed raises interest rates.