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Thread: ING ONEANSWER investment portfolio?

  1. #1
    mermaidnz
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    Default ING ONEANSWER investment portfolio?

    is this a good idea?

    im considering setting up one of these accounts and plugging $1k a month into it, i know theres different risks etc associated with these, but generally, its a better idea then pissing my money against a wall right?

    and i need two years of tax returns to get a home loan, the last 2 years i havea pretty average and tbh i wont be approved for that decent of a loan just yet, i was kinda hoping to set this account up so that in 2 years time hopefully, i will have enough for a decent homeloan and i will have done two years of decent tax returns.

    has anyone ever had any problems with these acocunts? im going to ring ing up next week to start one, if i can find someone who has done a simmilar scheme and made a lilout of it

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    Default Re: ING ONEANSWER investment portfolio?

    Jess --- > http://www.invested.com.au/forums

    It is geared towards Australians and thus will be of more assistance than a US based forum. There aren't enough knowledge-able Aussies on this board for any answer in this thread to really be worthwhile knowing as such as they will all have a US bent/angle to them.

    Granted, there is some advice that just plain applies to anyone anywhere.


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    Banned Melonie's Avatar
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    Default Re: ING ONEANSWER investment portfolio?

    Granted, there is some advice that just plain applies to anyone anywhere.
    and along the lines of 'universal' comments ...

    - beware the 'management fees' *which ING doesn't begin to waive until your investment exceeds $100k

    - beware the limited plate of choices * even though ING offers nearly 100 different investment options, NONE of them are 'inverse' / 'short' i.e. structured to rise in value in a declining market / economy situation

    - beware of making commitments to gov't sanctioned retirement plans now whose supposed merits are based on current gov't rules being continued unchanged for the next 40 years until you reach retirement age

    - beware of investing your money into 'highly recommended' funds when you do NOT know where your money is actually being invested by the fund manager ( relates to recent mortgage backed securities / CDO losses, for example )


    however, on the 'plus' side ...

    - all in one financial services do make it extremely easy to get into the 'habit' of investing

    - all in one financial services make life MUCH simpler when tax time rolls around

    - in general, all in one financial services will provide a better rate of return than a simple savings account or laddered CD's etc.
    Last edited by Melonie; 08-10-2007 at 01:28 AM.

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