With Gary Zimmerman, Managing Partner – Six Trees Capital LLC, Founder – MaxMyInterest.com
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With banks going out of business, the crisis of 2008 reminded us that banks aren’t always a safe place to keep our money and it’s important to make sure we don’t have more than the max FDIC insurance limit in each bank. So is your cash fully insured? Keeping cash safe is important. A site like MaxMyInterest.com makes it easy to safeguard your cash by helping spread it across multiple accounts and keeping balances below FDIC insurance limits.
Also, is your cash living up to its potential? Nowadays, with interest rates so low, your cash in the bank isn’t earning very much. MaxMyInterest helps sweep your excess cash to FDIC-insured online savings accounts that offer higher rates than traditional brick-and-mortar banks or money market funds. With all of us too busy to monitor interest rates, a site such as Max monitors interest rates daily and, as rates change, moves your funds to higher-yielding accounts via automated monthly optimization. Great idea, especially in this low interest rate environment!
