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Thread: Good place for our savings to grow

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    Featured Member Busygirl's Avatar
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    Default ........................

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    Last edited by Busygirl; 03-12-2012 at 11:46 AM.

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    Default Re: Good place for our savings to grow

    I put it all into my 401K and ING online savings accounts (they seem to have the most competitive rate that I can find), Ill steal and do the above also. The less I can touch liquid money the better.





    Quote Originally Posted by Procrasturbator View Post
    So how many stumps can you fit in your pussy?

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    Default Re: Good place for our savings to grow

    ^

    YES! I HIGHLY recommend them





    Quote Originally Posted by Procrasturbator View Post
    So how many stumps can you fit in your pussy?

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    Default Re: Good place for our savings to grow

    I definitely will look into it - thanks! When I get old I want just spend it retired, drunk, on the water and surrounded by coconuts, so however I can get there - Im in.





    Quote Originally Posted by Procrasturbator View Post
    So how many stumps can you fit in your pussy?

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    Default Re: Good place for our savings to grow

    Maybe we should buy gold....
    apparently it never looses its value...

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    Default Re: Good place for our savings to grow

    Quote Originally Posted by Busygirl View Post
    As many of you lately, i'm trying to save as much as possible, and i looked into opening a savings account at my bank, also as a motivational tool, to see my savings grow in it with automatic transfer. But... their APY is a joke: around 0.05%- 0.13 %. This will be good however as a psychological, motivational tool for me, but it's got to be a better way, i mean inflation is higher than that. Let's brainstorm this.
    You aren't going to get much growth except for on a CD or investing. I wouldn't suggest investing unless you have a lot of money and can stand to watch it take hits or even possibly lose it.

    CD's are the best right now for financial return. The longer you can put it on there, the higher your APY. Can you afford to tie your money up for ten years or longer? Whatever you do you had better make sure they are insured. You can put it into lending club or whatever else, but sounds shady. I'd only trust a bank or a reputable stock broker with my money.

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    Veteran Member ElianaIsis's Avatar
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    Default Re: Good place for our savings to grow

    I agree with Torn about using CD's as well. You really want to work on diversifying your portfolio once you have it established.

    Here's what my plan will look like, not quite to the savings part yet.

    1. Savings for Emergency Fund (around 3-4 months worth of essentials)
    2. Pay off debt with snowball effect.
    3. Build savings up to a years worth of essentials using all that debt money.

    Not sure which order these will go in:
    -Roth Ira/ 401ks
    -CDs both short and longer term to maximize ROI
    -money market account instead of checking (these have a high minimum investment amount)
    -other investments like real estate


    I will get there damn it! I want to for once in my life have a net worth!

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    Default Re: Good place for our savings to grow

    .......
    Last edited by Busygirl; 03-12-2012 at 01:01 PM.

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    Default Re: Good place for our savings to grow

    ..............
    Last edited by Busygirl; 03-12-2012 at 01:00 PM.

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    Default Re: Good place for our savings to grow

    .............
    Last edited by Busygirl; 03-12-2012 at 01:00 PM.

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    Default Re: Good place for our savings to grow

    i had some luck with low-risk money market accounts before the crazy recession but am not certain how money market stuff is working today. but i made a decent amount in interest even for a low risk account. there's really no such thing as risk free with good returns as far as i know, though.

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    Default Re: Good place for our savings to grow

    there's really no such thing as risk free with good returns as far as i know, though.
    True now more than ever. In fact today there is now also significant risk without good returns !

    if you girls would wander over to Dollar Den, you'd find the following ...

    ... which discusses the fact that ING Direct as a division of Dutch bank ING may be in Deep Doo-Doo because of the Greek / Italian / Portuguese gov't debt it owns.

    ... which discusses the potential option of dividend stocks as an alternative to very low earning CD's

    ... which discusses the 'safety' of various options to park your money these days

    ... which discusses various aspects of 401k retirement accounts plus rollovers to IRA's

    ... which discusses various ways to develop a habit of 'saving' your earnings

    ~
    Last edited by Melonie; 12-19-2011 at 02:12 AM.

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    Default Re: Good place for our savings to grow

    ^Thanks Melonie, I forgot youre the guru on this.

    argh ffs ING





    Quote Originally Posted by Procrasturbator View Post
    So how many stumps can you fit in your pussy?

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    Default Re: Good place for our savings to grow

    Quote Originally Posted by Fridays View Post
    Maybe we should buy gold....
    apparently it never looses its value...
    My friend supports the fact gold never loses value - He keeps telling me to invest in it - Gold could easily lose value - Its importance could go down , its uniqueness could go down , they could finish working out the formula to create it by hand - they could find a gold city with enough gold to supply the world , bearing in mind it doesn't actually DO anything ( unlike water , heat , oil etc ) , Gold just looks pretty -

    I'd invest in my pussy before gold - I believe that will hold value in some shape or form until my dying day

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    Default Re: Good place for our savings to grow

    not to mention i know people who have invested in gold and later needed money and had difficulty selling the gold. gold might hold its value...but if you can't get cash for it when you actually need to use your savings there is no point in buying it.

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    Default Re: Good place for our savings to grow

    watch it grow under the mattress? LOL

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    Default Re: Good place for our savings to grow

    watch it grow under the mattress? LOL
    Actually, that's what I do !!! About a year ago I added to the physical one ounce gold bars I own when the price dipped to $1350. While sitting in my safe, during that year they have increased in value to $1600. That's not only an 18.5% equivalent 'interest rate', but the capital gains are only subject to a 15% tax rate ( versus CD interest earnings with a < 1% interest rate which is subject to a ~30% tax rate ).

    As to buying and selling, within the USA and Canada at least, will execute a purchase or sale within a week, charging about a 2% 'commission'. If you need cash faster than that, any pawn shop wil execute an instant sale for about a 5% 'commission'. That's not much different than 'cashing in' a CD before it matures and getting hit with the penalty.

    Besides the inflation / currency devaluation hedge that gold provides, I actually like the fact that 'cashing in' my gold bars requires a bit of deliberate action. This forces me to 'think twice'. Of course I also keep readily accessible cash that is able to cover a month's worth of expenses in a 'demand' savings account. Plus I keep six 6 month term CD's rolling over with one maturing every month at the same bank, which allows me to cover long term living expenses but makes me 'think twice' about cashing the CD's in before maturity and being stuck paying the penalty.

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