Are you looking for a safe place to park cash that is an alternative to your local bank, online account, or credit union? If so, then go to https://www.treasurydirect.gov/ and see what the government has to offer. You will find multiple savings vehicles that are backed by the full faith and credit of the Federal Government.
You can set up an account in about 10 minutes and link it directly to your bank account. The government offers a variety of products in the form of Treasury Securities. These securities pay competitive rates when compared to the average savings account, and in some cases are exempt from State and Local taxes. You can research that further here: https://www.treasurydirect.gov/
The product offerings range from short to long term investments, making them customizable to your individual needs and savings goals. Money not needed for years can be invested in long term bonds. Money needed in the relatively near future can go into short term bills. You can ladder your investments, and in some cases, pull your money out before maturity.
Setting up an account is free and easy, and minimum investments are low. For example, you only need $25 to buy into Treasury Bills.
The website is user-friendly and packed with information such as videos, calculators, research tools, and information on current bond and note rates.
To conclude, Treasury Direct is worth a look if you are searching for a safe place to keep cash as an alternative to your local bank or other traditional saving institution. The government offers a variety of investment products to fit the needs of short term and long-term investors alike. All products are safe and backed by the full faith and credit of the US Government, and setting up an account is free and only takes about 10 minutes. TreasuryDirect.gov should be on your radar if you have extra cash to invest.
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Based in the Pittsburgh, PA area, Brian holds full-time employment as a Warehouse Manager for an electronics firm. Brian enjoys wealth building, investing, gardening and the great outdoors. Brian holds a B.A. in Environmental Studies from the University of Pittsburgh and an MBA from Robert Morris University.
