| A | B |
|---|
| Amount that FDIC Insurance will cover | $250,000 per account |
| Creit Union | Must be a member to bank there |
| Online Banks | Have limited number of products, but have better rates |
| Savings Account | Very Safe, very liquid, interest rates >.1% |
| Money Market | Combination of checking & savings, limited number of checks, earns interest |
| Certificate of Deposit | Better Interest than savings account, penalties for early withdraw |
| Government savings bonds | Buy at half the value, guaranteed to double in 20 years |
| IRA | Maximum contribution of $5500 per year, withraw at 59 1/2 |
| Traditional IRA | IRA taxed when withrawn at retirement |
| Roth IRA | IRA account where pay tax at the beginning, not taxed when withdrawn at retirement |
| Coverdell Education Savings Account | Maximum Contributions of $2000 per year, all earnings tax free |
| Liquid | Money that is easy to access |
| Commercial Bank | Most popular type of bank |
