Never before have Americans faced such an array of savings choices.
Some of the options:
The Mattress. Keeping cash at home ensures that it will always be close at hand and safe, assuming that it is protected from theft and fire. Disadvantage: at current rates of inflation, the money will lose about 10% in value each year.
Savings Account. Money deposited in a savings account can be easily withdrawn at any time and is insured by the Federal Government for up to $100,000. Disadvantage: the interest is a low 5.25% at a bank or 5.5% at a savings and loan or savings bank.