Friday, February 3, 2017
Short Term Savings Tools in the Midst of Political Uncertainty
No matter what side of the political equation you were on during this election year, there is one thing we can be certain of – uncertainty. While the stock market has seen some very good numbers recently, it is safe to say that many Americans have guarded optimism when investing their hard-earned dollars. With that in mind, now might be an ideal time to examine short-term investment opportunities.
Certificate of Deposit
Because of historically low interest rates over the past several years, CD’s have been one of the most overlooked investment choices. With the recent rate hike, and predictions of more to come in 2017, short-term CD’s are gaining more popularity. At McHenry Savings Bank, our 7-month CD option is the perfect place to put your money for a short amount of time as the markets adjust to the new administration. Additionally, because they are FDIC insured, if the markets fluctuate, your money is safe. And, the short maturity term means that your money is not tied up for a long period of time.
While it might seem a bit old-fashioned, a traditional savings account is an ideal saving tool if you are unsure of the current market conditions. It keeps your funds in a savings vehicle that is separate from your checking account yet it can be connected to your account in case extra funds are needed to be transferred. Additionally, many savings accounts have earning potential similar to a CD. And, like a CD, the money in your savings account will be FDIC insured.
McHenry Savings Bank has been serving residents of McHenry County, Illinois and surrounding areas since 1955. We offer our customers a wide range of financial tools to help them make the most of their money. We are not a big corporate entity, which means that you get personalized service from people who are also a part of the community. We offer a wide range of savings products including CD’s with terms from 91 days to 4 years. Contact our team for information on our savings and investing tools.
Although, not FDIC insured, our wholly owned subsidiary, McHenry County Investment Services Inc., provides our customers with personalized investment and insurance products including retirement planning, college planning, asset allocation and much more.*