Are you a Saver? Read up on what your best options are right now.

For several years I have written about the hard times "savers" were facing. Anyone who wanted to set a dollar aside in a guaranteed account was losing the race against time and inflation.

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For years your local bank was paying more to mail your savings account statement than the interest you were earning. For years and years, a 55-cent stamp was needed to let you know you had earned 23-cents that month on your $25,000 balance.

That is not the case today. Take a moment right now to learn what your options are.

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If you need access to your money on a moment's notice:

Take a look at online High Yield Savings Accounts (HYSA) from well-known financial institutions like Goldman Sachs and Capital One. These companies, and many others, offer online only accounts that carry FDIC insurance.

Many have no minimum, or a modest amount, to open the HYSA. This new HYSA will be "linked" with your current checking account. You will be able to move money back and forth from your HYSA and your checking account.

For most HYSAs there is a minimum number of days your transfers from checking to HYSA must remain. A typical length is often 7-days. In other words, if you move money into your HYSA, you must wait a week before transferring that deposit back into your checking account.

What kind of interest rate can you get today? Right around 3.50%. Not bad, huh.

If you need your money in a year:

A good choice would be a Certificate of Deposit. Here your money is tied up for the length of your Certificate. Lengths of 12-14 months are quite common.

You will earn a little more for committing your money for a year or so. Today rates of 4.00% to 4.70% are available. You may need to try calling a couple banks to see who is offering the best rates right now.

If your plans are more long term:

Here your options are more impressive. The most popular choice today for high, fixed-rates are Multi-Year Guaranteed Annuities (MYGAs). You can choose from longer periods of locked-in rates.

When you are planning for longer-term needs like retirement a MYGA allows you to lock-in an interest rate for anywhere from 3-years to as long as 20-years.

With a MYGA you know to "the penny" how much you will have at all times. No worry or risk to your money.

Rates start at 5.60%. Longer term MYGAs offer even higher rates.

I represent the insurance companies that offer the highest rates available. Call me at 419-902-1678 to see where rates are today.