Financial Tips

Start saving for your next milestone

Buying a home. Affording college if you have children. Funding retirement after a life of work. Putting something away in a rainy day fund. For many Americans, funding these four cornerstones is what success looks like. And for good reason! These are incredibly important to ensure you and your family are cared for and help bring hard-earned peace of mind.

For some higher-earning individuals, once these essential financial goals have been met, the building blocks of their future can include some other significant investments and expenses. These milestone savings next steps may be:

  • Saving for a vacation home

  • Retiring earlier

  • Saving for high-quality care for aging parents

For parents or individuals who plan to have children, your conversations may also include saving for:

  • Private K-12 school

  • Enrichment opportunities

  • An au pair 

It’s essential to ensure you have a clear sense of what your priorities are, and consensus if other people are involved in the decision making. “Set regular check-ins with yourself and/or your partner to discuss what’s on the horizon and identify what those next milestones are,” shared expert Gina Drisko, Vice President, Retail Private Banking. “Be intentional with that time and treat it like a meeting you’d have at work or with one of your children’s teachers about progress and goal setting. Then, when you meet with your banker, you’re on the same page and can strategize together.”

Consider a Money Market Checking Account

If these milestones aren’t decades in the future but a few years ahead, locking up your money in taxable or time-bound investment opportunities may not work for you. There are ways to earn interest that carry additional immediate benefits and don’t restrict your access to your funds.

With Federal Reserve benchmark interest rates higher, many consumers look to high-yield savings accounts because they have lower minimum required balances. However, if you have more to deposit, Gina shared that many Premier Bank clients are interested in money market checking accounts that can fit unique needs that short-term investments can help fund.

Like a high-yield savings account, these accounts earn interest on the balance. Unlike a high-yield savings account, a money market checking account includes a debit card and check-writing capabilities. This access makes day-to-day transactions easier and also ensures fast access to your cash. With a high-yield savings account, cash transfers to a checking account can take 1-3 business days, and you may be limited in the number of withdrawals you can make each month. 

If you’re looking to get the most out of a new deposit of $50,000 or more – our Premier Checking account is a money market checking account. It works just like a regular checking account but earns a premier interest rate on your balance. 

More perks for Premier Clients

As a savvy investor, you’re likely looking for more than just the best rate of return on a deposit. Opening a Premier Checking account with Fremont Bank opens a world of opportunities. Invitations to exclusive, curated events are one client favorite. Our World Debit Mastercard offers first-rate travel benefits. You’ll also unlock benefits like bonuses, waived service charges or fees, and discounted rates across the bank. With a $250,000 balance, you’ll qualify for our Private Banking benefits and even more services.

Everyone who banks with Fremont Bank remarks on the invaluable benefit of knowing you have a banker who has your back. Time and time again, we hear about how our relationships are not the kind you find at larger financial institutions. It tracks – we’ve been independently owned and operated for six decades. 

“One of the reasons I love Fremont Bank is because everybody is so friendly when you walk into any branch; they know your name – whether they've just met you or have known you for years.” Barbara & Julie

The team on your team

Our financial lives may contain many parts but they’re all part of one ecosystem. To make decisions about retirement, you may want to talk to someone from our real estate or commercial banking departments. Larger financial institutions have their fair share of experts, but those experts can be siloed, said Nick Gums, Wealth Management Private Banker at Fremont Bank. He came to Fremont Bank in part because he sought that high level of collaboration. “You may get transferred between departments – when what you want is a connection between real people,” he shared.

Fremont Bank’s reputation as a top Premier banker in the Bay Area rests on the lifelong relationships we build with our clients. But, what’s more, we build strong relationships with the other bankers on our teams. As we learn about your needs and goals, we can help recommend experts – in commercial, real estate, investments, and more – that we know and trust. We want to help get the right partners involved who can help you achieve your next steps.

Continue to build your future with us

Much of our continued success as a leading Bay Area bank is because we know relationships take time. We often hear from Premier clients that they first heard about us from a friend, family member or colleague. Or they saw our logo at a community event sponsored by our Corporate Giving programs or the Fremont Bank Foundation. Just like you, we are invested in the success of our communities for the long-term. We’re thrilled when we hear you came to us via word of mouth.

“My parents had multiple mortgages and introduced us to Fremont Bank. Now my wife and I are valued members entrusting Fremont Bank with our financial care.” Daniel & Natalie

Been banking elsewhere for decades? We get it. Many of our Premier clients maintain accounts with other banks, said Dara Rocchi, Wealth Management Private Banker. She noted that many clients keep multiple banking relationships active, though many begin moving more of their financial lives to Fremont Bank after experiencing the Fremont Bank Way. A perk of opening a money market checking account with a new deposit of $50,000 or more is that it unlocks the benefits of our renowned customer service without the hassle of closing out all your other accounts.

Then, if we prove our worth, we’d be thrilled to assist you with creating other accounts at Fremont Bank or transition more of your financial life to our care. If you’ve been curious about top-notch customer service from bankers who know you and are invested in your goals, come experience it.

Looking to buy a boat? Have a kid who wants to go to medical school? Want to move your parents closer to you as they age? We understand. Let’s put your savings to work with a money market checking account for new deposits of $50,000 or more. 

A Private Banker would love to hear about your next milestone. Request a call.