What Is the Best Online Savings Account??

I'm the mom of a 2-year-old... I've had a Roth IRA account for about 5 years now, and it's very easy to maintain. It's not like your regular IRAs - you can take your principal monies out without having to pay the early withdrawal taxes that you would with a regular IRA. That does not apply to the interest earned, though - you have to wait 'til retirement to withdraw that without penalties. The amount of money you can put in your Roth IRA anually depends on your income and how long you've held the account. Money you put in is not tax deductible. This is more of a retirement account than a savings account, but like I said - you can still make withdrawals if the need arises.

I was going to actually suggest an ING Orange account. that is what i have and it is a very competitive rate, most banks don't offer more than 1.5% for a liquid savings account, meaning it's an account you can pull money out of any time without penalty. I'd stick w/ ING if I were you.

If you find a better rate somewhere else, make sure they're FDIC insured to protect your money in case the bank goes into default.

Hope this helps.

W.

I also signed up with the ING orange account, also for the bonuses, but my husband is encouraging me to switch to Vanguard. I opened up accounts for both of our kids(in our names) for the money they got since they were born. He put one in Vanguard and I put the other in ING. The rate he is getting is much better. But he didn't get a bonus. I don't think either have finance charges, and you can write checks (money market) for anything over $250. We also use Vanguard for our Emergency fund(Thank You Dave Ramsey), so if you are comfortable with online banking, switching money around is quite easy.
Vanguard has the best rate that we have found. However, if you are looking at more of a long term savings you might consider one of the mutual funds, becuase they have performed quite well this last year and beyond.
But if you need money quicker, or in lower amounts than $250, ING has actually been quite good for me.

hi
i also do a in home day care since june of 2007. its going good so far. learned allot and enjoying being home with my 18 mth old as well. i can say i just have savings accounts for my kids and try to add to them when i can.
well good luck and that sounds like a good account you have. our interested at our bank isnt really that great.
good luck
S. n.