The average interest rate generated by a standard bank savings account is just 0.1%, according to BankrateConservative investors trying to save by putting their cash in government bonds aren't faring much better. The personal savings rate in the United States was a whopping 19% of disposable income in June. The savings rate is down from a peak of 33% in April, but it's still substantially higher than the 7.1% savings rate at this time a year ago. The average dividend yield for the S&P 500 is 2.1%, considerably higher than yields for Treasury bonds and bank savings rates. If Tim Cook and Warren Buffett are keeping their powder dry, you might want to consider doing so as well -- -- despite the fact that isn't generating much in the way of interest income.

Source: CNN August 19, 2020 17:03 UTC