A thought for the day...

IMO, the economy won't be decent until and unless savings accounts make a decent interest rate! It is extremely difficult to make over 1.3% and even that is rare on savings accounts these days or even CD's. When I graduated from high school in 1964 I opened what was then called a "passbook savings account" at a bank in Daytona Beach...the bank issued you a little booklet (called a passbook with ledger lines) and each time you made a deposit or a withdrawal the teller made an entry in the "passbook" by hand. The interest rate at the time was 6%!!! Of course, there was very little money going into the account at the time...now, that I actually have some money in a couple of savings accounts the earnings are horrendous. Of course there is the concern not to earn too much unless it is enough to pay for the increased amount of the Part B Medicare if you go over a certain amount of adjusted gross income. If you go over the amount by even $1, you will end up paying approximately an additional $600 yearly for the Part B, so if earning higher interest rates would put one over, it needs earn more than the $600 plus what it would have earned at the lower rate before it is advantageous. Talk about being on the brink of a dilemma...

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