Saving = No Risk!

This is Wikipedia's definition of saving - "In common usage, saving generally means putting money aside, for example, by putting money in the bank or investing in a pension plan. [1] In a broader sense, saving is typically used to refer to economizing, cutting costs, or to rescuing someone or something. In terms of personal finance, saving refers to preserving money for future use - typically by putting it on deposit - this is distinct from investment where there is an element of risk."
The important distinction between investment and saving is eliminating risk. With the passage of the law extending the $250,000 FDIC insurance limit until 2013 your risk with FDIC insured institutions is zero. Set aside any worries about not placing funds in a bank. In the history of the FDIC no one's ever lost a penny of insured funds. Online banks, like cnbbankdirect, are FDIC insured just like the brick and mortar bank on the corner, and you earn more interest! So go ahead, open your account and earn interest that you can count on.