Individuals are on the lookout for investments that offer the highest interest, at a time when the health of the economy is very weak, and the news from the stock market is not much better. People are feeling nervous about the trends of financial investments, and they are having trouble finding secure places for their money. If asked, most individuals will tell you that they would choose a safe investment over one offering a higher interest rate. So, if you find yourself in this position, what other alternatives are available besides an interest checking or savings account?

Today’s most secure investment is likely an FDIC insured bank CD, which is guaranteed, in actuality, by the United States government. The FDIC failing to insure your CD would only happen in the event of a complete U.S. government collapse, which means that it is highly unlikely that your money is in any jeopardy. It is too bad, though, that certificates of deposit are currently at an all time low rate of 1% currently.

You might think that the most beneficial CD rate available would be reserved for the longest term CD, but this is not always the case. If you check the CD rates available through your bank, you may be surprised to find that the 30 year and 15 year CDs are not paying as high an interest rate as CDs for shorter time periods. There are special promotions available that may enable you to obtain the most profitable interest rate on a CD for a shorter length of time.

Many seniors and retirees, rely on income earned through interest to assist in providing the money that they need for every day living, so, for these people, low interest rates can be devastating. Younger individuals may see more benefit from stock investment despite the risk, while older individuals should avoid putting their money here. For the young, they can afford to live through the ups and downs of the market, and allow their stock investment to pay off over a long period, while older people are looking for an investment that will provide funds right away, and consistently.

Treasury bills are another safe investment, as is keeping cash. T-bills currently pay even less than bank CDs. That means you are practically making a free loan to the U.S. government! If you decide to keep cash rather than investing in anything, keep in mind that inflation will reduce your money’s value. Our terrible economy and the financial situation overall makes this a difficult time for everyone.

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