Even though Americans usually keep about 7% to 8% of their income in savings, that rate increased to more than 33% due to the pandemic.
Today the amount of cash parked in individual savings accounts is nearly $2 trillion.
Unfortunately, even high-yield savings accounts offer less than 0.70% interest. While these accounts are FDIC insured, their earnings are taxable.
Multi-Year Guaranteed Annuity laddering strategies help investors reach higher interest potential.
Jennifer Lang Financial Services, LLC.