Low Yield Savings Account
The combination of income taxes, lost opportunity cost on taxes, and inflation can negate or offset the interest earnings one accrues on low yield savings accounts in the long run. These accounts should primarily be used for short-term liquidity and convenience. The LEAP SYSTEM® can help you review other savings vehicles products for your long term savings needs that can potentially lower your income taxes, avoid lost opportunity costs and combat inflation.
Note: Bank deposits are FDIC-insured, while other investment vehicles are not FDIC- insured.
The information provided is not written or intended as specific tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. MassMutual, its employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.
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