home equity loan in texas
Change habits from when cash earned zip
Call it the silver-lining effect. While the talking heads wring their hands over rising interest rates and the danger they present to life in the known universe, I have to confess a tingling sense of comfort.
I like the idea of earning something on my money.
The world, and perhaps the universe, seems a happier place.
Only two years ago, money market mutual funds weren't worth shooting.
Bank money market accounts were worse. Yields were well under 1 percent, and some accounts had no yield at all.
Today, the average money market account earns well over 4 percent. And yields are still rising.
Indeed, with the six-month Treasury bill now earning 5 percent, "idle cash" is coming up in the world.
This is particularly good news for retirees, because it's hard to pay the bills when stocks pay less than 2 percent, bonds pay under 4 percent and cash pays next to nothing.
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Use these financial tools to ward off disaster
Asset protection, or placing your money where it's safe from lawsuits or creditors, was once considered a shady practice. Now it's moving into the mainstream.
People who are vulnerable to a lawsuit, bankruptcy or divorce - and it's a surprisingly big group, including doctors, corporate executives, business owners, real-estate investors and even families with teenage drivers - have grown increasingly concerned about protecting their property. Fanning the flames, financial-services companies and lawyers have been aggressively marketing complex trusts, partnerships, insurance products, limited-liability companies and other vehicles to move those assets out of the reach of others.
Trust companies offering so-called asset-protection trusts say that business is booming.