What should I do with the money in my savings account?

Generally speaking, putting the money toward paying off high-interest credit card debt is going to help you the most, then keeping an emergency fund, and finally contributing to retirement plans. There are also traps to be wary of with 0% credit cards. It would help to build a complete financial plan considering your entire financial picture including. . . .

Debt ManagementJoshua Escalante Troesh, CFPNovember 13, 2019Savings, Debt Management, Debt payoff, Credit Card Debt, Financial Foundation, Starting Out

With only $192,000 saved, should I retire or not?

Ultimately this is a math question: is your savings large enough to provide you with sufficient income if you retired today. With $192,000 saved, a skilled adviser could provide you with a monthly income of between $500 to $750. (Some advisers may . . . .

Retirement PlanningJoshua Escalante Troesh, CFPFebruary 21, 2019Retirement & Legacy, Retirement Planning, Savings

I am saving for a down payment for a house; should I keep the money in my savings account or move it somewhere different?

Considering you have a 3-year timeline, a standard savings account isn't optimal due to the low interest rates being unlikely to keep up with inflation. A money market savings account or certificate of deposit would be a better to consider. If you are comfortable with taking on more risk . . . .

Life Planning, InvestingJoshua Escalante Troesh, CFPDecember 20, 2018Buying A Home, Ginny Mae Fund, Treasury Bond Fund, Investment portfolio, Money Market Funds, Money Market Accounts, Savings, Certificates of Deposit (CDs)

What is the safest way to earn a higher interest rate on our money than by using our traditional savings account or a money market account?

In order to stay within your "safest" criteria, you would want to stick with an FDIC or NCUA insured account. You can get slightly higher interest rates by shopping around for high-interest savings accounts from online banks and credit unions. Currently (November 2018), rates on savings accounts are….