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Best brokerage accounts in December 2024

A brokerage account is an investment account for buying and selling stocks, bonds, mutual funds, and ETFs or exchange traded funds.

Best checking accounts in December 2024

A checking account, also known as demand or transactional deposit account, allows unlimited withdrawals and deposits, unlike savings accounts which may limit both.

Series I savings bonds interest rate in December 2024

Series I savings bonds protect you from inflation. With an I bond, you earn both a fixed rate of interest and a rate that changes with inflation.

Savings lost $1.1 trillion in purchasing power in 2022

In 2022, the inflation rate increased to 6.6%, while the average interest earned on bank accounts was 0.44%, leading to $1.1 trillion in purchase power loss. The largest decline in purchasing power - $447 billion impacted depositors at the 6 biggest banks: JPMorgan Chase, Bank of America, Wells Fargo, Citibank, US Bank and PNC Bank. "Compound interest is the most powerful force in the universe. He who understands it, earns it; he who doesn't, pays it." Purchasing Power Decrea

167% return on series I savings bonds

Compared to a 26% loss on cash in savings accounts, between 1998 and 2022. If you saved $10,000/year for the last 25 years, your $250,000 savings, after interest and inflation, would have returned: $1.1 trillion was lost in purchasing power of savings accounts in 2022, due to high inflation and low interest rates offered by banks. Protect your savings from inflation with Series I Bonds. Key facts: * Current interest rate 5.27%, compounded semi-annually. * Purchase limit min. $25 /

$33 billion in bank fees charged in 2022

The fees paid by US consumers to banks in 2022 were greater than the GDP of 101 out of 193 countries in the World. Compared to 2021, bank fees decreased by 3% to $33B, reflecting 12% decrease in overdraft fees to $7.7B. Total amount (billion) of bank fees collected in 2022 (Top 6). Source: FFIEC The average charge per deposit account decreased by 9% to $38, reflecting 36% decrease per account by JPMorgan Chase to $50, 19% decrease by Bank of America to $36 as well as an increase in mar

6 best high-yield bank accounts in 2022

Interest rates ranged from zero, for 30% of all accounts, to a national average of 0.47% across all banks. The 6 most competitive banks offering the highest yields were: Their combined market share of deposits increased 14% to 5%, compared to 2021. Top Rate vs.'21 % Average Rate vs.'21 % 1.7% ↓ -20% 0.48% ↑ 239%

6 no-fee banks in 2022

Best banks for saving money in the last decade

Goldman Sachs, preceded by Capital One and American Express Bank out of the 60 largest financial institutions in the US by deposits, paid the highest annual interest to depositors in the last decade. Due to high inflation and low interest rates offered by the largest banks, depositors lost $3.54 trillion in purchasing power on their savings in the last decade. Average rates and total purchasing power loss 2013-2022 Interest Inflation Federal Funds Purchasing Power 0.41% 2