An executive proposal has been implemented to increase DAI Savings Rate to 1%. MakerDAO was momentarily displaced as the DeFi protocol with the largest TVL. Following an executive proposal decided upo...
Tag: savings
MakerDAO Relaunches DAI Savings Rate With Hiked Interest Rate
Defi News Decentralized and tied to the US dollar, DAI is MakerDAO’s stablecoin. To raise the interest rate by 100 basis points was approved by a majority of voters. MakerDAO is reintroducing the DAI ...
P2P crypto exchange Paxful against keeping savings on exchanges
Ray Youssef — CEO of major peer-to-peer (P2P) Paxful — advises the public to avoid keeping their savings on cryptocurrency exchanges. In a Dec. 12 tweet, Youssef announced that every week Paxful will ...
‘Recession’ Is Every Bit as Foolish As the GDP Calculation That Informs It
A recent Wall Street Journal headline lamented a scenario in which “Europeans Don’t Spend, Auguring a Recession.” Are journalists the problem, or sub-editors writing the headlines, or might it be that...
How Much Should I Have in Savings by 70?
how much does the average 70-year-old have in savings Part of retirement planning includes determining how much to save and invest so you can enjoy the type of lifestyle you desire. Setting your savin...
These twenty-something TikTokers are draining their savings on travel — here’s how they plan to afford it
‘I’ll make my money back’: These twenty-something TikTokers are draining their savings on travel — here’s how they plan to afford it For 26-year-old Jessica Tsoi, travel has al...
Americans Have Lost $6.8 Trillion This Year As Stocks Crashed, Housing Market Collapsed And Savings Dwindled
Topline As the Federal Reserve works to combat rising inflation by slowing down the economy, the wealth of American households has evaporated—collapsing by more than $6.8 trillion this year as America...
Queen Latifah – worth an estimated $70 million – got this money savings advice from her mom. Pros say more of us should follow it, too: ‘The best part is it scales the more you make.’
BEVERLY HILLS, CALIFORNIA – OCTOBER 22: Queen Latifah attends TheGrio Awards 2022 at The Beverly Hilton on October 22, 2022 in Beverly Hills, California. (Photo by JC Olivera/Getty Images) Getty Image...
‘Yields last seen in 2009.’ Here’s what you should be earning on a savings account now, but probably aren’t
What savings accounts are paying Getty Images While the average savings account is still paying a mediocre rate (see below), some high-yield savings accounts are now paying more than they have in a de...
JPMorgan Billionaire Dimon Warns That Americans’ Pent-Up Savings Will Deteriorate—Fueling Recession Next Year
Topline Billionaire JPMorgan CEO Jamie Dimon warned on Tuesday that the strength of consumer spending is likely to wane as persistent inflation and higher interest rates force consumers to wind down e...
How Your Savings Can Benefit From Higher Interest Rates In 2023
The Federal Reserve has hiked rates aggressively in 2022, that’s a benefit for savers (Photo by Mark … [+] Wilson/Getty Images) Getty Images The Fed has hiked rates aggressively. That’s cr...
What to do with your 401(k) plan when you quit or retire to make the most of your savings
When moving from one employer to another or leaving the workforce entirely for retirement, you may have an employer-sponsored 401(k) account that needs to be moved as well. There are several options f...
Psst: You can earn 5% on your checking or savings account right now — and multiple banks are offering it
As competition escalates for new savings customers, many financial institutions are promising high yields simply for becoming a customer and following various transaction requirements. And if done cor...
The key differences between CDs and traditional savings accounts—plus expert tips on choosing between the two
Whether you’re just starting to build up your savings, or you’re a longtime saver and are interested in opening a new account, one of the most crucial decisions you can make as it relates to your savi...
MakerDAO Now Offering Savings Yields Higher Than Wall Street
Decentralized financial services giant MakerDAO is hiking the savings yield for its stablecoin DAI from 0.01% to 1% after the latest governance vote. All DAI holders are able to deposit their stableto...
3 Big Bank Stocks With Improved Price Chart Patterns
Bank Building getty That more investors are convinced the Fed will pivot next year to lower interest rates may be the reason for the buying coming into bank stocks. The expectation that such a favorab...
The personal savings of Americans have plunged to a shockingly low $626 billion — from $4.85 trillion in 2020. Here are 3 easy ways to buck that dangerous downtrend
The personal savings of Americans have plunged to a shockingly low $626 billion — from $4.85 trillion in 2020. Here are 3 easy ways to buck that dangerous downtrend When Americans were receiving stimu...
Fed’s George Says Higher US Savings May Also Mean Higher Rates Needed
(Bloomberg) — Kansas City Federal Reserve Bank President Esther George said ample US savings will help to buffer households but could also mean higher interest rates are needed to cool spending....
Fed Hawkishness Peaks as Rising Debt Payments Erode Savings
(Bloomberg) — Tighter Federal Reserve policy is raising households’ interest-rate burden, leading to a rapid decline in excess savings and underscoring the likelihood hawkishness has peaked. Mos...
IRS raises 2023 retirement savings cap, but few even hit it. Here’s what you can do about it.
Most of the news on inflation has been bad, but retirement savers may have been given a silver lining – if they’re savers and if they can afford to take advantage of it. The IRS lifted last month by a...
The Economy Is Sick
Stocking up when you can. (Photo by Justin Sullivan/Getty Images) Getty Images Despite official reassurances that the economy is doing well, still upbeat hiring statistics, and a modest rise in third ...
The simple question Dave Ramsey says you must ask yourself to determine if you have enough savings right now
How much should you be saving in your emergency fund? Getty Images/iStockphoto You need an emergency fund, especially in trying times like these, but just how much should go in that fund? For his part...
Are Inherited Savings Bonds Taxes Going to Cost Me a Fortune?
SmartAsset: Do I Have to Pay Tax on Inherited Savings Bonds? Inheriting savings bonds can provide you with an unexpected windfall. However, there’s one important question to ask: Do I have to pay tax ...
Here’s where to get the best high-yield savings accounts
While the latest Federal Reserve rate hike may be bad news for those with credit card debt, it could be good for your bank account. That’s because the rates offered on high-yield savings accounts foll...
Guide to Crypto Savings Plans That Might Double Your Bitcoin Risk-free
There are countless ways to generate a profit from your crypto, from HODLing to staking, gaming, swing trading, and NFT investing. But, by far the safest and most consistently profitable means of inve...
Americans now say they will need $1.25 million in savings to retire comfortably — a 20% hike from last year. But how realistic is that?
Americans now say they will need $1.25 million in savings to retire comfortably — a 20% hike from last year. But how realistic is that? Older Americans are wondering if recent market downturns have ad...
Here’s how much you’d earn on your Powerball winnings if you put them in a high-yield savings account
Wednesday came and went with no winner for the Powerball jackpot, which means the pot has now soared to $1.5 billion. The last time the 45-state lottery game’s winnings grew that high was in 2016 when...
‘Am I being ripped off?’ I moved into my husband’s home. I pay for groceries. The rental income from my apartment goes into our joint savings.
I read one of your previous columns regarding the boyfriend who wants the letter writer to move in. My case is similar, but we have already made a decision on how to structure our finances as they rel...
Opinion: Forget the $22,500 limit, some workers can supersize their tax-deferred retirement savings up to $265,000 in 2023
If you really want to rev up your retirement savings and minimize income taxes, the best thing to be is a late-career professional in private practice. When you’re making a lot of money and are close ...
Opinion: The floodgates are open for grandparents to super-size college savings for grandkids
If you’re a grandparent looking to save the day by helping your grandchildren pay for college, take a second look at a tax-advantaged 529 college savings plan before the end of the year. Rule changes ...