Seniors Earn a Disappointing 1% While Banks See Double-Digit Profits
The banks are earning double-digit profits, but they are only paying seniors as little as 1% on their savings account balances. How can this happen?
Santa Rosa, CA (PRWEB) January 22, 2006
Newspaper headline reads, “…Banks see double-digit profit gains” but there is more to the story than meets the eye. To be certain, shareholders are pleased, but is everyone happy?
"I don’t know how many banks get away with it, but they do… They pay seniors 1% on their savings while racking up double-digit profits for their shareholders," says Todd VanDenburg, a well-known financial educator and advocate for seniors in Santa Rosa, CA. "Earning the highest possible rate of return is important to everyone, but it is especially important to people that are no longer working hard at a job to earn a paycheck. When you are no longer receiving a paycheck, making your money work hard for you is the only way that you can protect yourself from one of the biggest risks facing most seniors today… Outliving their money!” adds Todd VanDenburg, an independent financial advisor, who teaches seniors 60+ how to preserve assets, increase their income, and reduce income taxes. “If you have money in a savings account at your local bank earning 1-2%, there are things that you can do to double or even triple your interest rate without giving up any safety or liquidity. So why isn’t everyone doing it? The answer we typically hear from seniors that we share this information with is ‘nobody ever told us’.”
Todd VanDenburg recently published The Inside Scoop on Equity Indexed Annuities, the most recent addition to “The Inside Scoop” series, and has been interviewed by Senior Market Advisor for his expertise on financial issues that concern seniors. Mr. VanDenburg has helped hundreds of seniors navigate their financial affairs and is a Certified Senior Advisor (CSA)®.
For an interview, phone him at 707-578-5800 x301.
Todd Vandenburg, CSA
Biodgraphy and fact sheet:
Todd VanDenburg is recognized as a leading financial educator in Sonoma County. In addition to his recently published booklet The Inside Scoop on Equity Indexed Annuities, Mr. VanDenburg has been interviewed by Senior Market Advisor for his expertise on financial issues that concern seniors. Additionally, he is one of only 12,000 Certified Senior Advisors (CSA)® in the U. S. To become a CSA, he successfully completed a 20-part program proving his expertise in many areas including senior housing, health issues, and of course, finance.
For many years, Mr. VanDenburg has been teaching investors age 60+ how to preserve their assets, increase their income, and reduce income taxes. Hundreds of investors have used Todd’s advice to wisely invest millions in order to help grow their assets and pay less income tax. Consequently, Mr. VanDenburg is regarded as a local expert in financial matters as they affect seniors, the fastest growing segment of the population.
He founded VanDenburg Financial and Insurance Services, (www. tvifs. com), which offers specialized financial services to seniors in Sonoma County as well as low cost life insurance to people in 30 states. VanDenburg Financial and Insurance Services is located at:
631 1st Street, Suite A
Santa Rosa, CA 95404
707-578-5800 x301
Mr. VanDenburg is an avid golfer and woodworker and lives in Rincon Valley with his wife, Pamela, and his twin 9 year old daughters Jacquelyn and Paige.
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