Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

Do You Want to Pass Wealth on to Your Kids? Here’s How!

December 21, 2020 · Retirement Life

Open a high-yield savings account

You’ll likely have some money left over that you won’t invest for whatever reason. If so, putting it in a high-yield savings account is, most likely, the best choice you could make. Over time, your money will increase exponentially. Here’s how.

The average interest rate for savings accounts, nationally, is 0.09%. If you deposit $10,000 into an account that pays 0.10%, you’ll earn $10 of interest in the first year. A high-yield savings account could pay 1.50%, meaning you’ll earn $150.

These accounts are also highly competitive. Even if rates are low now, in order for these companies to get more deposits, they’ll offer greater and greater rates, so there’s basically no way but up. This risk-free return for your cash is definitely something you should look into as they’re great for pretty much anyone, at any age.

Pages: 1 2 3 4 5 6 7

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • A senior woman looking thoughtfully at her phone in a bright, modern home office. 6 Social Security Scams You Need to Pay Attention to
  • A happy retired couple enjoying the sunset on a beautiful porch. 8 States to Retire For Less Than 45K a Year
  • A retired couple looking at a map on a sunny balcony overlooking a beautiful coastal town. 10 Countries to Retire Where $150K Is More Than Enough
  • A happy retiree working on a laptop on a sunny patio, symbolizing flexible part-time work. 20 Great Part-Time Jobs For Retirees
  • A senior couple smiling while looking at a tablet in a bright, modern kitchen. 5 Crucial Medicare Changes Coming Soon
  • A senior couple happily unpacking groceries in a bright, modern kitchen. 9 Ways to Shop at Costco Without a Membership
  • A happy retired couple stands on the porch of a beautiful, sunny home, symbolizing an affordable and joyful retirement. 10 Best Places to Retire That Won't Break the Bank
  • An older man confidently using a laptop in a sunlit home office, symbolizing digital security. 7 Common Passwords To Avoid
  • A retired couple looking out a window in their bright, downsized modern home. 11 Mistakes to Avoid When Downsizing Your Home
  • A retired couple smiling on a balcony overlooking a scenic coastal village at sunset. 12 Best Countries to Live Perfectly Well on Social Security

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

A retired couple reviews financial documents together in a bright, modern kitchen.

Watch Out for These 30 Things That Could Ruin Your Retirement

Discover the 30 critical financial, healthcare, and lifestyle mistakes that could ruin your retirement and…

Read More →

5 Medicare Changes We Will Face in 2022

New Rx HCC Model  The Part D Hierarchical Condition Category (RxHCC) model was updated in…

Read More →

11 Seniors Worthy of Admiration

Let’s take a moment to sit and ponder: one in seven adults in America today…

Read More →
A retired couple looking at a map on a sunny balcony overlooking a beautiful coastal town.

10 Countries to Retire Where $150K Is More Than Enough

Discover how a $150,000 nest egg combined with Social Security can fund a comfortable, vibrant…

Read More →

The Best Places to Retire If You Can’t Save Up $1 Million

Memphis, Tennessee If music is a big part of your life, consider Memphis. You can…

Read More →

10 Hidden Drawbacks of 401(k)s That Will Leave You Speechless

Not User-Friendly With online banking on the rise, developers are trying to make the banking…

Read More →

28 Ways to Make Early Retirement Work for You

Shift Your Mindset on Spending So let’s say you’re not frugal by nature. But you…

Read More →
Watercolor illustration of a multigenerational family on a vintage porch in warm golden light.

16 Ways Retirees Lived Without Social Security in the Past

Explore how older Americans survived before 1935 and learn timeless historical retirement income strategies to…

Read More →

Be Careful! 5 Dangerous Scams Targeting Retirees

An elderly man looks concerned while holding a telephone receiver and pen during a suspicious…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

About Us

Editorial Policy

Advertiser Disclosure

Frequently Asked Questions

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.