T.M. Murphy

Common Signs of Safe Online Banking

The number of users switching their on-site banking accounts over to online banking is growing by the thousands each year. When surveyed, those without online banking accounts cite safety concerns as a top reason why they don’t want to change over. If you... Read >

Stop Right There, Big Spender! Consult a Savings Calculator

Yes, a savings calculator is an invaluable tool when you’re trying to determine the best ways to save and how much you can end up with after you’ve invested. But a savings calculator can also be used to help you curtail unhealthy spending habits. Maybe yo... Read >

Savings Account Mistakes

A savings account can grant you financial independence. It can help you organize your income in such a way that you set money aside for the future – and that money grows over time without any extra maintenance. Anyone making even a little bit more than th... Read >

Closing Out Your Roth IRA

An individual retirement account (IRA) can sound like a prison sentence once you start reading all of the fine print about what you are and aren’t allowed to do with your money once you commit it to this savings endeavor. It may feel like you should kiss ... Read >

Consolidating Your Online Savings Account

There are various reasons why someone might have several banking accounts open at the same time. One reason is that these are different types of accounts, such as a checking and a savings account. But sometimes people also have multiples of the same type ... Read >

Why You’ll Want Money Market Rates

If you’re a thoughtful investor, you probably did your research on interest rates before you started looking for ways to save your money. Ideally, you consulted with banks and professionals about what arrangement would work best for your current financial... Read >

The Rise of the Individual Retirement Account

Even as recently as the turn of the century, you wouldn’t run into as many people with an understanding of an individual retirement account (IRA) as you would today. Because of recent national economic concerns, cautious spending and even more frugal savi... Read >

Considering A Bump-Up Certificate of Deposit?

The key appeal of a certificate of deposit (CD) is that – for the most part, as compared to other forms of investments – it offers predictable and risk-free return on your money. That’s because a simple formula takes the amount that you’re investing, the ... Read >

Spare the Guesswork: Use a Savings Calculator

Whether you’re starting a retirement fund or buying your first home, there’s always one major question before you invest: What’s the payoff? No one expects you to move your money blindly, and you should have an estimate if not a concrete number in mind be... Read >

How to Close a Savings Account

There are many reasons you may want to close your savings account. For example, you may be changing banks, putting your money into a higher-yield account or combining your savings into an account with your significant other. Banks won’t want to lose your ... Read >

Converting from a Traditional IRA to Roth IRA

There are many advantages to having a Roth IRA account instead of a traditional IRA. As with any money management solution, one type of individual retirement account isn’t necessarily better for everyone. But a majority of investors may seek comforts in R... Read >

Make the Most of Your Online Savings Account

If you’ve already started an online savings account, you’re already headed in the right direction when it comes to financial planning for your future. But there are also some very simple tricks you can use to be sure you’re making the most of it. Here are... Read >

Q&A About Money Market Rates

A money market account is a type of investment strategy where your money is given to a bank for a predetermined length of time. You are, in turn, offered an interest rate that is your reward for turning over your money to them for that time. These money m... Read >

Less Conventional Individual Retirement Account Types

Many people understand the basic differences between the two main types of individual retirement account: traditional and Roth IRA. But there are also a wide variety of lesser-known ways to save for your future. Knowing about all of your options will make... Read >

Example of a Certificate of Deposit

If you’re looking into smart, low-risk ways to make your money grow, you’ve probably already thought about choosing a certificate of deposit (CD). This option is popular because it can offer a high interest rate with a very dependable payout. But the CD o... Read >