RATE DROP!

NJM Bank's "Savings for the Future" account is now 0.80% APY, down from 1.00%. How far the great have fallen! Savers seem to have two equally unattractive choices: either keep cash safe, sound, and liquid, but with return not much better than hiding it in the proverbial mattress and risk the erosion of purchasing power over time, or gamble with riskier investments which can, and do, eat into your principal.

Update (4/23/2012): NJM Bank's "Savings for the Future" account is now 0.55% APY.