Today I saw something in my mailbox other than bills or coupons. It was a letter from ING Direct.
It had an orange logo on the front of the envelope.
What really caught my eye as I tossed out the junk mail was that this envelope also said, "Earn more than 5x the national average with your savings account."
I decided not to throw it out and opened it to find out more.
Like many of you readers, I'm disgusted with my SEP account performance.
Even my Mom is fairly upset that her stocks have lost more than $60,000 since all the craziness started.
She had asked me about pulling out what was left and putting it elsewhere. But where? We pondered.
Now, I'm wondering if this might be a good place to park some cash and learn how to save each month instead of spend.
It might be worth a chance to see if I can save the old fashioned way. Years ago I used to have a Christmas Club Savings. I faithfully put in $20 a week. That seems so long ago.
I Googled the company and it looks like they have been in business since 2000. Here is a review I found.
If you have been using this company, please comment so I can feel better about using their savings account. It looks pretty good. I'm into safe these days. Safe be my friend! LOL
Lizette Fitzpatrick- Principal Broker at Lizette Realty.
#1 featured Kentucky Realtor on Activerain.com and Localism.com.
Publisher/Author for the only Central Kentucky email newsletter on local real estate listings and sold properties, Kentucky relocation, local events, homeowner information and fun!
For more information on Lizette, Kentucky Horse Farms, Lizette Realty, Madison County, Fayette County, Richmond or Lexington KY real estate click on Lizette.us.
See for yourself what Lizette's extraordinary clients have to say about their Kentucky Real Estate experience. Copyright © 2009 By Lizette Fitzpatrick, All Rights Reserved..*Orange You Saving Your Hard Earned Cash?*
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Very interesting and I am looking for some vacant land to park my cash in California. Be careful with some of these banks, etc.
Hi Lizette,
I know what you mean, I've been getting these in the mail for some time now where I live in Orange County, CA. They also do a fair amount of TV advertising here too.
Personally I'm not sure how solid they are, so I guess I'm no help. One of my banker friends gave me a website to check see how banks rate, can't find the darn thing right now.
More than anything else, I don't think I'd put all my eggs in one basket anywhere. Regardless how largre or how small they are I think it's best to spread things around.
Robert - It's starting to be scary to trust at all.
Lynda - I guess I will have to research them more. I am hoping some AR members comment that have used them or have better ideas of where to park cash.
Lizette, ING is very large and I have a friend in the insurance biz that sells their products all the time. European based firm.
Gary is right. I'm surviving off my savings! This too shall pass, one way or the other.
Gary - I had no idea. Thanks for the info.
Susie - I might do that too if I had some.
I have had an ING account for a long time... easy transfers to your account, they just take a few days.. unfortunately more has been coming out of the account as I have transfered more out than in in the past year! But I would give them a thumbs up
Lizette ~ Like Robert I have also had a few savings accounts with ING for several years now. You can link to your checking so making transfers can be easily done online, it does take a couple of days though for the transfer to be complete. The interest has been much higher than the local bank, although I do keep small amounts in the local savings accounts for when I need immediate withdrawals. Last year I opened a business savings account with them too. I haven't had any problems or issues.