Feb
03
When speaking of the banking system and bank rates, we often forget that this system is comprised not only of buildings, computers, and money, but of people. One vivid illustration of this fact is to ponder the role that American senior citizens may increasingly play in the interest rates paid for CDs, money market accounts, and savings accounts.
First of all, there are going to be many more people who fit the category senior in the coming years. As this article about the aging of America shows, statistics indicate that by the year 2020 there will be 115 million senior citizens in the U.S.
But it is not only about numbers, it is also about mentality.