Want Your Savings to Earn a Higher Rate of Return? Try Internet Banking

Doesn't it seem like the only impressive numbers we've seen this summer are the digits on the thermostat and the unaffordable prices of homes? Real estate has been excruciatingly hot for the past few years, but getting in the market now puts you in the high-risk category for a heat stroke if the market decides to cool off this year.

So if a real estate induced stroke doesn't appeal to you and the stock market's roller coaster ride gives you motion sickness, it's very likely that you as a health-conscious investor are sitting on a stash of cash collecting an anemic rate of interest.

Don't worry, you are in good company. Even investment legend Warren Buffet is having problems finding fruitful investments. Buffet admitted in Berkshire Hathaway's annual letter to shareholders to having ended 2004 with $43 billion in cash equivalents and couldn't promise much success in utilizing the money in 2005.

If Buffet doesn't know what to do with his billions, you are probably thinking that you have no chance of finding a great place to put your billions either. Ok, your trillions. I didn't mean to belittle your nest egg.

Where can you stick your cash while you wait for better investment times?

How about online? Yes, I know Internet stocks stole your money in 2000, but Internet banks are giving it back in 2005.

Unlike the Internet gold rush of the 1990's where web businesses were run by high school students, many of today's Internet banks are simply online divisions of safe and time tested brick-and-mortar banking institutions.

Take ING Direct for example. ING Direct is the online division of ING Group, a Dutch based financial institution which is among the top 15 largest in the world. ING Direct opened its Internet doors five years ago and currently has approximately $29 billion in deposits. That would make it the "YAHOO!" of online banks.

But another online bank may actually make you yodel, "yahooo" after you glance at their annual percentage yield. Internet bank Emigrant Direct offers 3.50% APY on its savings accounts. What does your big commercial bank give you? 0.50%? At that rate, you're not earning enough to beat inflation. Maybe it's time you joined the Internet age?

Emigrant Direct is the online division for New York's Emigrant Savings Bank. Although a relative newcomer to the online banking scene, when it seems like interest rates are leaden with lead, Emigrant Direct is usually the first to raise them. At this point, brick-and-mortar banks would need to raise their rates quite a bit just to catch up with Emigrant.

So if you find yourself not enjoying the lazy interest rates of summer, you may want to log on to the net and see how an Internet bank account may boost your return this year. The interest rate you get may just burn as hot as the heat wave hitting most of America.

Jon Galanty is a financial writer for eMoneyCentral.com. Visit http://www.emoneycentral.com to find out more about online banking and to get other great money tips.

Wood Dale Chicago prom limo .. Lockport Chicago limo O’Hare
In The News:

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents
Internet browsers are useful, but they can be dangerous. Clicking on malicious links can direct you to dangerous websites that steal information or infect your device.
Apple's latest iOS update introduces advanced artificial intelligence capabilities, which may be capturing and analyzing sensitive information.
Breach site confirmed 56,904,909 Hot Topic users' data leaked online. Tech expert Kurt “CyberGuy" Knutsson says the company's silence makes matters even worse.
Tech expert Kurt “CyberGuy" Knutsson discusses how an innovative Easy-Way kit turns standard strollers electric, simplifying navigation for parents.
Tech expert Kurt “CyberGuy" Knutsson talks about T-Mobile being hacked in broad cyberattack on global phone and internet companies.
Tech expert Kurt “CyberGuy" Knutsson shows you how to add, customize and manage widgets for quick access to apps and info from your iPhone home screen.
Wrong Google searches can not only compromise your device and personal data. They can also bring law enforcement to your doorstep. Hackers are targeting Google searches.
China's Shanghai Kepler Robotics has developed a new humanoid robot that can carry up to 35 pounds per hand for commercial applications across various industries
Checking your hearing has gotten easier with the new hearing test feature in AirPods Pro 2. You can take reliable hearing tests using your iPhone or iPad.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
Kurt "CyberGuy" Knutsson explains how a VPN — virtual private network — works and how running it can slow down the operation of your device.
The WalkON Suit F1, an exoskeleton developed to help people with disabilities, can actually walk over to a person in a wheelchair, solving a major problem.
ClickFix, a new scam targeting computer users, is on the rise in the U.S. The scam prompts its targets to click on a link to fix a problem.
Skydweller is the world's largest unmanned solar-powered aircraft that can stay airborne for weeks, and even months, without refueling.
The U.S. government said it is investigating after People's Republic of China hackers targeted commercial telecommunications service providers in the U.S.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
Scammers are using increasingly sophisticated ways to lure unsuspecting victims, and some are impersonating an email help desk or support team.
You can unsend or edit your iMessages with the latest iOS updates. Kurt the CyberGuy explains how you can save yourself some potential embarrassment.
Kurt “CyberGuy" Knutsson says there’s been a rise in cybercriminal services using hacked police and government emails to send subpoenas and data requests to U.S. companies.
Kurt “CyberGuy" Knutsson discusses how Axiom Space and luxury designer Prada are collaborating on NASA's Artemis III spacesuit design.
Voice assistants may cause confusion across devices. Tech expert Kurt “CyberGuy" Knutsson offers some solutions to fix it.
Shameless scammers trick veterans into giving personal info or cash. Tech expert Kurt “CyberGuy" Knutsson explores five common scams.
Tech expert Kurt “CyberGuy" Knutsson helps you honor our heroes with these powerful podcasts, audiobooks and documentaries this Veterans Day.

Benefits of Personal Finance Software

In this age of information, keeping track of your finances... Read More

Help With My Annuity

The cries are heard from the distance, "I need help... Read More

The Wright Place - Finances

Women have a love/hate relationship with money. Most of us... Read More

What is a Traditional IRA?

With a traditional Investment Retirement Account (IRA) you pay taxes... Read More

Banks Are More Than Just A Place To Park Your Money

If you've been to a shopping mall lately, you've probably... Read More

Vesting and Your 401(k)

Do you have a 401(k) retirement account? Are you vested... Read More

How You Feel Affects How You Shop & How Much You Spend

Have you ever stopped to think about how your "mood"... Read More

Whats The Truth Behind Your Finances?

Between 15 - 20% of people in our country (UK)... Read More

Save Money on Gas

Gas prices have soared to unimaginable heights of late. Since... Read More

Budgeting is Essential for a Single Mothers Success

Today many women are struggling with debt and it's even... Read More

Is There A Retirement Crisis?

When people speak about the increasing age expectancies, they generally... Read More

UK Graduates Looking Short-Term At Their Long-Term Financial Responsibilities

With almost two thirds of university entrants from England and... Read More

Adverse Debt Levels Blight UK Consumers Personal Finances

Debt levels are at an all time high in the... Read More

More Money? My Cup Runneth Over...But Im Still Thirsty

Most of us, especially those of us who have debtor's... Read More

The Changing Shape of Family Finances

Super-mumsIt seems that the proof of maternal efforts is no... Read More

Financial Readiness: Preparing for BRAC (Base Realignment And Closing)

The recommendations for military base closings have been released and... Read More

The Wonderful World Of Address Labels

Ever wonder where address labels come from? Avery? is perhaps... Read More

Why Live Frugally

What is it about being frugal, why do it at... Read More

If All Things Are Possible, Why Cant I Balance My Checkbook?

For me, the most terrible time of each month is... Read More

Budgets And Eating - Can They Co-Exist?

Whatever your reason for having a tight budget, the truth... Read More

Save Money on Groceries: Part I

One universal of humanity, no matter who you are or... Read More

Personal Loans For Homeowners ? One Of The Numerous Rewards For Being A Homeowner

You no longer look at the pictures of homes cause... Read More

Saving Money - The Magic 20 Percent

Saving money is not easy and is made more difficult... Read More

Top 10+ Ways to Jumpstart your New Year?s Finances!

Of course, these don't have to be done in any... Read More

What Are We Teaching our 2005 Graduates about Money?

Now that we are in the month of June I... Read More

Antigo wedding limo ..