cameramonkey 0 #26 January 13, 2006 QuoteI'm trying to keep my money liquid, so i am avoiding CDs. Long term, CDs are a bad idea according to my financial advisor. interest is taxable, so beleive it or not, its possible at the end of the term to end up with less than you started. I cant explain it quite as elegantly as he does, but here is the gist. $50,000 in CDs, reinvesting the dividends at the end of each term. after 25 years, when it all balances out with income taxes, inflation, etc, you actually end up between $5,000 and $7,000 in the HOLE. yes, you have more money in your hands, but what slipped out of your wallet and down the drain thanks to uncle sam it what gets ya.Two wrongs don't make a right, however three lefts DO! Quote Share this post Link to post Share on other sites
j0nes 0 #27 January 13, 2006 QuoteI'm sorry, did we hijack it in the wrong direction, dear kettle? the funny part is my threadjackings are followed up by personal attacks (against me) and then some moderator comes along and "cleans" the thread. so mods, keep it equal. clean this up. Quote Share this post Link to post Share on other sites
masterrig 1 #28 January 13, 2006 I was always told; 'You reap what you sow!' This is 'Bonfire' it's expected! Pobre cito/a! Chuck Quote Share this post Link to post Share on other sites
wildblue 4 #29 January 13, 2006 ING is at 3.80% right now. Transfers to and from are pretty simple, you can even set it up to automatically pull money from your checking - like every time you get paid, have it pull money into the saving account for you. PM me if you're interested, they give you a free $25 for starting an account too. In the interest of full disclosure, I do get $10 if I 'refer' you. it's like incest - you're substituting convenience for quality Quote Share this post Link to post Share on other sites
j0nes 0 #30 January 13, 2006 really chuck? then what do you expect to sow with your lowbrow "humor" and pathetic "zingers"? Quote Share this post Link to post Share on other sites
masterrig 1 #31 January 13, 2006 Aw, hell... where do I start? Lemme see... I try to avoid saying anything that might piss someone off. In your case... I'll make the exception. Besides, there are very damned few threads in the BF that 'don't' get hi-jacked. Why, should yours be an exception? Now, go away... you bother me! Chuck Quote Share this post Link to post Share on other sites
GTAVercetti 0 #32 January 13, 2006 QuoteAw, hell... where do I start? Lemme see... I try to avoid saying anything that might piss someone off. In your case... I'll make the exception. Besides, there are very damned few threads in the BF that 'don't' get hi-jacked. Why, should yours be an exception? Now, go away... you bother me! Chuck Hey! The fog went away here but clouds remain. Kinda of dreary. In other news, Bonfire may not be the best place to get your financial information. For this very reason.Why yes, my license number is a palindrome. Thank you for noticing. Quote Share this post Link to post Share on other sites
NWFlyer 2 #33 January 13, 2006 QuoteIn other news, Bonfire may not be the best place to get your financial information. For this very reason. Or that it's not a financial advice site (not that those may be any better). In other news, STILL raining in Seattle. Do I smell a record? Fortunately, I'm migrating south this weekend. Quote Share this post Link to post Share on other sites
masterrig 1 #34 January 13, 2006 QuoteQuoteAw, hell... where do I start? Lemme see... I try to avoid saying anything that might piss someone off. In your case... I'll make the exception. Besides, there are very damned few threads in the BF that 'don't' get hi-jacked. Why, should yours be an exception? Now, go away... you bother me! _________________________________________ Hey! The fog went away here but clouds remain. Kinda of dreary. In other news, Bonfire may not be the best place to get your financial information. For this very reason. ______________________________________ Bwa-hahahaha... Excellent point! Chuck Quote Share this post Link to post Share on other sites PhreeZone 14 #35 January 13, 2006 http://www.emigrantdirect.com/ is still at 4%. I'm not a user but I'm considering it after hearing great reviews of it on the Suze Orman show and a few other places. Plus its FDIC and they have B&M in NYC.Yesterday is history And tomorrow is a mystery Parachutemanuals.com Quote Share this post Link to post Share on other sites masterrig 1 #36 January 13, 2006 QuoteQuoteIn other news, Bonfire may not be the best place to get your financial information. For this very reason. Or that it's not a financial advice site (not that those may be any better). In other news, STILL raining in Seattle. Do I smell a record? Fortunately, I'm migrating south this weekend. ______________________________________ I heard our local weather guy say this morning, we have a 'slight' chance of rain on Sunday! This is West Texas! 'Slight', means... none! 40% chance or better... I get excited! Less than that... forget it. Chuck Quote Share this post Link to post Share on other sites unformed 0 #37 January 13, 2006 It's bright and sunny in Florida. I'm waiting for UPS to drop my rig off. One thing that cracked me up a couple months ago: I was flying into Coventry (England) and I get on the plane, and the pilot's says "Thank you for flying with yada-yada-yada. It will be 10:34pm when we land in Coventry, and it is NOT raining over there. I repeat, it is NOT raining." This ad space for sale. Quote Share this post Link to post Share on other sites wildblue 4 #38 January 13, 2006 Quotehttp://www.emigrantdirect.com/ is still at 4%. I'm not a user but I'm considering it after hearing great reviews of it on the Suze Orman show and a few other places. Plus its FDIC and they have B&M in NYC. Sign up for both Get the free $25 from ING...it's like incest - you're substituting convenience for quality Quote Share this post Link to post Share on other sites NWFlyer 2 #39 January 13, 2006 QuoteIt's bright and sunny in Florida. I'm waiting for UPS to drop my rig off. That's exciting news! We expect photos later. Quote Share this post Link to post Share on other sites MakeItHappen 15 #40 January 13, 2006 Quotei'm doing some research, looking for a safe place to plant some money. i'm looking for an FDIC insured account with low or no fees and a good interest rate. I want to be able to pull out maoney if an emergency pops-up, so CDs are out. HSBC has this http://www.us.hsbc.com/1/2/3/personal/savings/online-savings, but does anyone know of a better rate out there? (i realize asking skydivers about invseting may be a mistake, but it was worht a shot) You might want to invest in an index fund instead. That has slightly more risk, but the return on index funds is much better than money market accounts. Money markets allow you to break even. The interest you earn is about equal to the value loss because of inflation. I'm not a big fan of funds in general, but the index funds are your best bet for someone that wants to tuck money away and not have to pay attention to it very often. Index funds are not managed so their fees are lower than managed funds. Index funds require usually at least a $2k initial investment. There may be some with a $1k buy in. After that you can buy in smaller amounts with no transaction fees if you have the account directly with the fund company. It might be different if you use a brokerage firm. There are some other funds that are tax free or have a max tax rate (~15%) that pay very good dividends, plus have price appreciation. Read Graham, Lynch and all of the Motley Fool books for more info. Stay away from the DOW dogs investment method. That's proven not to work. Your age, things you plan on doing in the future and risk taking level sort of drive your asset allocation percentages. Any easy way to get your feet wet in investing is to start with DRIP accounts. Join NAIC to learn more. They have a great program to get you started. Liquidating these accounts may take up to a month. There are only (modest) fees to set up the account and when you sell. Purchase transactions are free and dividends are automatically reinvested. These programs are great for new investors. You buy one share to start and then contribute $x per month or whatever. It gets you to put say $25 away each month. You pay yourself first and learn how dollar cost averaging lowers the price you pay for stocks. You also learn the discipline of stashing money away. Next thing you know you'll be paying yourself $500 per month. You do have to pay taxes on the dividends. When you sell you pay taxes on the price appreciation. The book keeping side is a bit more complex. .. Make It Happen Parachute History DiveMaker Quote Share this post Link to post Share on other sites Prev 1 2 Next Page 2 of 2 Join the conversation You can post now and register later. If you have an account, sign in now to post with your account. Note: Your post will require moderator approval before it will be visible. Reply to this topic... × Pasted as rich text. Paste as plain text instead Only 75 emoji are allowed. × Your link has been automatically embedded. Display as a link instead × Your previous content has been restored. Clear editor × You cannot paste images directly. Upload or insert images from URL. Insert image from URL × Desktop Tablet Phone Submit Reply 0 Go To Topic Listing
PhreeZone 14 #35 January 13, 2006 http://www.emigrantdirect.com/ is still at 4%. I'm not a user but I'm considering it after hearing great reviews of it on the Suze Orman show and a few other places. Plus its FDIC and they have B&M in NYC.Yesterday is history And tomorrow is a mystery Parachutemanuals.com Quote Share this post Link to post Share on other sites
masterrig 1 #36 January 13, 2006 QuoteQuoteIn other news, Bonfire may not be the best place to get your financial information. For this very reason. Or that it's not a financial advice site (not that those may be any better). In other news, STILL raining in Seattle. Do I smell a record? Fortunately, I'm migrating south this weekend. ______________________________________ I heard our local weather guy say this morning, we have a 'slight' chance of rain on Sunday! This is West Texas! 'Slight', means... none! 40% chance or better... I get excited! Less than that... forget it. Chuck Quote Share this post Link to post Share on other sites
unformed 0 #37 January 13, 2006 It's bright and sunny in Florida. I'm waiting for UPS to drop my rig off. One thing that cracked me up a couple months ago: I was flying into Coventry (England) and I get on the plane, and the pilot's says "Thank you for flying with yada-yada-yada. It will be 10:34pm when we land in Coventry, and it is NOT raining over there. I repeat, it is NOT raining." This ad space for sale. Quote Share this post Link to post Share on other sites
wildblue 4 #38 January 13, 2006 Quotehttp://www.emigrantdirect.com/ is still at 4%. I'm not a user but I'm considering it after hearing great reviews of it on the Suze Orman show and a few other places. Plus its FDIC and they have B&M in NYC. Sign up for both Get the free $25 from ING...it's like incest - you're substituting convenience for quality Quote Share this post Link to post Share on other sites
NWFlyer 2 #39 January 13, 2006 QuoteIt's bright and sunny in Florida. I'm waiting for UPS to drop my rig off. That's exciting news! We expect photos later. Quote Share this post Link to post Share on other sites MakeItHappen 15 #40 January 13, 2006 Quotei'm doing some research, looking for a safe place to plant some money. i'm looking for an FDIC insured account with low or no fees and a good interest rate. I want to be able to pull out maoney if an emergency pops-up, so CDs are out. HSBC has this http://www.us.hsbc.com/1/2/3/personal/savings/online-savings, but does anyone know of a better rate out there? (i realize asking skydivers about invseting may be a mistake, but it was worht a shot) You might want to invest in an index fund instead. That has slightly more risk, but the return on index funds is much better than money market accounts. Money markets allow you to break even. The interest you earn is about equal to the value loss because of inflation. I'm not a big fan of funds in general, but the index funds are your best bet for someone that wants to tuck money away and not have to pay attention to it very often. Index funds are not managed so their fees are lower than managed funds. Index funds require usually at least a $2k initial investment. There may be some with a $1k buy in. After that you can buy in smaller amounts with no transaction fees if you have the account directly with the fund company. It might be different if you use a brokerage firm. There are some other funds that are tax free or have a max tax rate (~15%) that pay very good dividends, plus have price appreciation. Read Graham, Lynch and all of the Motley Fool books for more info. Stay away from the DOW dogs investment method. That's proven not to work. Your age, things you plan on doing in the future and risk taking level sort of drive your asset allocation percentages. Any easy way to get your feet wet in investing is to start with DRIP accounts. Join NAIC to learn more. They have a great program to get you started. Liquidating these accounts may take up to a month. There are only (modest) fees to set up the account and when you sell. Purchase transactions are free and dividends are automatically reinvested. These programs are great for new investors. You buy one share to start and then contribute $x per month or whatever. It gets you to put say $25 away each month. You pay yourself first and learn how dollar cost averaging lowers the price you pay for stocks. You also learn the discipline of stashing money away. Next thing you know you'll be paying yourself $500 per month. You do have to pay taxes on the dividends. When you sell you pay taxes on the price appreciation. The book keeping side is a bit more complex. .. Make It Happen Parachute History DiveMaker Quote Share this post Link to post Share on other sites Prev 1 2 Next Page 2 of 2 Join the conversation You can post now and register later. If you have an account, sign in now to post with your account. Note: Your post will require moderator approval before it will be visible. Reply to this topic... × Pasted as rich text. Paste as plain text instead Only 75 emoji are allowed. × Your link has been automatically embedded. Display as a link instead × Your previous content has been restored. Clear editor × You cannot paste images directly. Upload or insert images from URL. Insert image from URL × Desktop Tablet Phone Submit Reply 0
MakeItHappen 15 #40 January 13, 2006 Quotei'm doing some research, looking for a safe place to plant some money. i'm looking for an FDIC insured account with low or no fees and a good interest rate. I want to be able to pull out maoney if an emergency pops-up, so CDs are out. HSBC has this http://www.us.hsbc.com/1/2/3/personal/savings/online-savings, but does anyone know of a better rate out there? (i realize asking skydivers about invseting may be a mistake, but it was worht a shot) You might want to invest in an index fund instead. That has slightly more risk, but the return on index funds is much better than money market accounts. Money markets allow you to break even. The interest you earn is about equal to the value loss because of inflation. I'm not a big fan of funds in general, but the index funds are your best bet for someone that wants to tuck money away and not have to pay attention to it very often. Index funds are not managed so their fees are lower than managed funds. Index funds require usually at least a $2k initial investment. There may be some with a $1k buy in. After that you can buy in smaller amounts with no transaction fees if you have the account directly with the fund company. It might be different if you use a brokerage firm. There are some other funds that are tax free or have a max tax rate (~15%) that pay very good dividends, plus have price appreciation. Read Graham, Lynch and all of the Motley Fool books for more info. Stay away from the DOW dogs investment method. That's proven not to work. Your age, things you plan on doing in the future and risk taking level sort of drive your asset allocation percentages. Any easy way to get your feet wet in investing is to start with DRIP accounts. Join NAIC to learn more. They have a great program to get you started. Liquidating these accounts may take up to a month. There are only (modest) fees to set up the account and when you sell. Purchase transactions are free and dividends are automatically reinvested. These programs are great for new investors. You buy one share to start and then contribute $x per month or whatever. It gets you to put say $25 away each month. You pay yourself first and learn how dollar cost averaging lowers the price you pay for stocks. You also learn the discipline of stashing money away. Next thing you know you'll be paying yourself $500 per month. You do have to pay taxes on the dividends. When you sell you pay taxes on the price appreciation. The book keeping side is a bit more complex. .. Make It Happen Parachute History DiveMaker Quote Share this post Link to post Share on other sites
