Banking
Name: Jayshree Patel Firm: New York Life Location: Lincolnwood, IL Total Value of Policies: $6.4 billion Background: Jayshree Patel grew up in a small village in India with her widowed mother and four sisters, facing early hardships after her father passed away. She moved to the U.S. in 1993 after college and joined New York Life in 1997, building her career initially around life insurance—the foundation of financial planning. Over the years, her practice expanded to serve multiple generations, adding retirement planning, estate strategies, and long-term care. Today, she runs a $6 billion assets firm with her husband and two…
Additional information about bank bonuses: checking account bonuses, bank sign-up bonuses and moreWhat does the Fed rate announcement mean for bank account bonuses?In September, the Federal Reserve announced it would lower the federal funds rate (the rate which commercial banks use to borrow and lend money to one another). The Fed last changed the rate in July 2023, which was the fourth change that year and an increase. The Fed also increased the rate seven times in 2022. The changes haven’t directly affected bank bonuses, but it could still be a good time to open a new bank account in…
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.Federal Reserve officials completed a two-day meeting on September 18 and announced a federal funds rate decrease of 50 basis points.[0] This is the first decrease in more than four years. The target range is now between 4.75% and 5.00%. Previously, the target was 5.25% to 5.50%. With the recent announcement, savers are likely to see slight dips in savings rates.Will high-yield savings…
Our Nerds say:“When choosing a savings account, a high rate isn’t the only thing you’ll want to consider. You’ll want to see whether there are any monthly fees or withdrawal limits. “It’s also important to pick an account that meets your overall banking needs. If you want your checking and savings accounts to be at the same bank, for example, you’ll want to go with an institution that offers both checking and high-yield savings.”- Margarette Burnette, NerdWallet banking writerBest high-yield savings accounts: full list of editorial picksWhen selecting the best high-yield savings accounts, NerdWallet uses multiple data points, including monthly…