IBJ Podcast: Pete the Planner on the best places to stash your cash

Keywords Finance / Podcast
  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

On Sept. 18, we will learn whether or not the Federal Reserve will lower its federal funds interest rate for the first time in four years. It could be one of the biggest financial events of the year, leading to lower interest rates for lending and quite possibly a big bump in spending in the U.S. economy. In this episode of the podcast, our concern lies in its effect on the interest rates banks pay consumers for parking their money in savings. That interest rate also would go down.

For the podcast, we’re defining savings as money you want to be able to get your hands on fairly quickly without disrupting your long-term investment strategy. But it’s not necessarily the money you keep in your checking account either. It’s relatively liquid—some people still call it “cash”. But you want to be able to watch it grow—at least a little bit. There are lots of options for savers, such as passbook savings accounts, high-yield-savings accounts, certificates of deposit and money market accounts. And you almost certainly know someone who wants to punt their savings to tangible assets like gold. Each option has advantages and drawbacks, depending on how quickly you want to access your money, how much interest you can get and the amount of exposure to risk. IBJ Podcast host Mason King always has been a money-under-the-mattress kind of guy, but he realizes now that this is tantamount to hiding your head in the sand while the dessert cart rolls by. This week, IBJ columnist Pete the Planner fills us in on the Fed’s impending interest rate decision and the best places to stash your cash.

Click here to find the IBJ Podcast each Monday. You can also subscribe at iTunesGoogle PlayTune In, Spotify and anyplace you find podcasts.

You can also listen to these recent episodes:

IBJ Podcast: ‘Swiftianapolis,’ 10 more can’t-miss arts events, and what they all say about Indy

IBJ Podcast: Why is Indiana’s population growth in danger of cratering while the Indy area adds 405K people?

IBJ Podcast: Fever emcee’s story of getting the gig is the ultimate in moxie, initiative

IBJ Podcast: JW Marriott’s manager on surviving pandemic, saving March Madness and facing new competition

IBJ Podcast: Simons building hospitality ecosystem by fieldhouse with plans to add luxury hotel, concert venue

IBJ Podcast: Hotly anticipated eatery Borage debuted in June. So how’s it going?

IBJ Podcast: Why does the hospital count in Hamilton County keep growing while other counties lose care?

Looking for another podcast to try? Check out IBJ’s The Freedom Forum with Angela B. Freeman, a monthly discussion about diversity and inclusion in central Indiana’s business community.

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In