Returns have been absolutely horrific for years, but there’s good news for savers FINALLY. Rates above 4% are back! Banks have started advertising them everywhere, and it has people wondering what their next steps should be. Seniors who are trying to stretch their retirement income can utilize higher yields, making it easier to meet their monthly needs.
However, some of the most eye-catching offers come with FDIC fine print that is easy to overlook. These terms and conditions are typically buried behind big promotions and limited-time language. But it’s important to understand that some accounts aren’t insured the way you’d assume. Some will require specific steps to maintain proper coverage. So, before you move your money, here is what you need to know.
