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Message
Posted on 8/25/16 at 7:04 am to SG_Geaux
I don't have a better suggestion than the 0.75% that was previously suggested. However, I'm strongly against SG_Geaux's suggestion of putting all your savings in an investment account of 60/40 bonds/stocks. Your money is not "savings" any more, you're effectively reclassifying your money as "investment" money. You can try to look at it differently to make yourself feel more secure but you're lying to yourself. And don't justify it because some guy on the internet said he did well in the last 6 months.
Last time I checked, savings are supposed to be there long term.
Now if you want to split your savings into a couple different pots like:
-50% of my savings will be conservatively placed into an account that basically gets me no earnings but is very secure
-50% of my savings will be placed somewhere where it can grow more rapidly with limited risk
That's cool but recognize that this is safer and different than dumping all your savings into an investment account.
Last time I checked, savings are supposed to be there long term.
Now if you want to split your savings into a couple different pots like:
-50% of my savings will be conservatively placed into an account that basically gets me no earnings but is very secure
-50% of my savings will be placed somewhere where it can grow more rapidly with limited risk
That's cool but recognize that this is safer and different than dumping all your savings into an investment account.
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