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Message
re: I have about $37K to invest in
Posted on 1/26/10 at 2:40 pm to Parliament
Posted on 1/26/10 at 2:40 pm to Parliament
How about a checking account? Mine is paying 4.5% up to 25k
Can't get much more liquid than that
Can't get much more liquid than that
This post was edited on 1/26/10 at 2:42 pm
3
Posted on 1/26/10 at 2:51 pm to Count Chocula
quote:
I'm guaranteed 5%
quote:
Usually only if you "annuitise" at some point down the road...
taxes and 10% penalty on gain if surrendered prior to 59 1/2.
I'm not saying you're wrong, but I get a check in the mail every month in the amount of interest accrued on the annuity. Our agreement is that we are guaranteed 5% per year, paid monthly. We can withdraw, without penalty, at any time. We've only withdrawn once, so there may be a limit. Again, not saying you're wrong, that's just our particular situation.
Posted on 1/26/10 at 3:15 pm to Weaver
quote:
I have about $37K to invest in
Good for you, saving all that money.
Posted on 1/26/10 at 4:46 pm to Weaver
Max out a ROTH IRA first, I believe the max is 4K, then I would get a good ETF for Bonds, its like a mutual fund for all bonds and they are guaranteed to gain interest even when the rest of the economy is struggling. Just do some research on good ETFs for bonds like through Vanguard or Schwab.
Here's a good article on what you could do with the rest of the money....
LINK
Here's a good article on what you could do with the rest of the money....
LINK
Posted on 1/26/10 at 4:52 pm to DatDemTigers
quote:
I believe the max is 4K
The lady at scottrade told me it was 5k last week.
Posted on 1/26/10 at 4:57 pm to TheHiddenFlask
quote:
online savings accountquote:I don't want to gamble this money,
with Bank of America.
too late
This post was edited on 1/26/10 at 4:58 pm
Posted on 1/26/10 at 5:06 pm to jmtigers
quote:
jmtigers
What account is that? I want in....
Posted on 1/26/10 at 8:34 pm to jmtigers
Checking account that pays 4.5%. Where is that at?
Posted on 1/27/10 at 7:50 am to TheHiddenFlask
quote:
I believe the max is 4K
The lady at scottrade told me it was 5k last week.
I am no expert, but I know it is $5,000.
But before April 15th you can contribute $5g for 2009 and another $5g for 2010
Posted on 1/27/10 at 7:56 am to Weaver
Neighbors Credit union in baton rouge. I believe there are others in BR paying 5% and probably some wherever you are.
Posted on 1/27/10 at 9:24 am to Weaver
I tell you what, I have been investing in gold and silver for the past 10 years.. Actual gold and silver bullion-bars and coins.. In 2001 I took 25K out of my saving and invested it all in gold.. I paid approximately 300/oz and now it is worth about $1100/oz, this one investment made me almost 100K.. Over time I have invested about 95K of my own money and my silver and gold collection is worth almost 550K.. Best decision I ever made..
Posted on 1/27/10 at 10:02 am to I Love Bama
A condo for 38K, where do you live, Haiti?
Posted on 1/27/10 at 10:44 am to jmtigers
quote:
Neighbors Credit union in baton rouge
Do they have an online account I can inquire about?
Posted on 1/27/10 at 10:54 am to Walkertiger
quote:
A condo for 38K, where do you live, Haiti?
There is some cheap real estate in my area. I picked up a house for 8k a few months ago. I put about 10k into it and currently owner financing the thing for 40k with a 5k deposit. I don't know much about the NO market but I imagine there are similar deals....
Posted on 1/27/10 at 10:57 am to Weaver
I don't think they are "online". ie you prob have to walk into a branch to join/ start an account. but they do have free atm at any atm and online banking.
Posted on 1/27/10 at 12:01 pm to Weaver
You could buy some I bonds, I think $10k is the annual limit now, they are paying 3.36% tax deferred currently on new bonds. You might consider it for part of your money you want to keep safe.
"I Bond Earnings Rate 3.36%, Fixed Rate 0.30%
The earnings rate for Series I Savings Bonds is a combination of a fixed rate, which applies for the life of the bond, and the semiannual inflation rate. The 3.36% earnings rate for I bonds bought from November 2009 through April 2010 will apply for their first six months after issue. The earnings rate combines a 0.30% fixed rate of return with the 3.06% annualized rate of inflation as measured by the Consumer Price Index for all Urban Consumers (CPI-U). The fixed rate applies for the 30-year life of I bonds purchased during this six-month period. The CPI-U increased from 212.709 to 215.969 from March 2009 through September 2009, a six-month increase of 1.53%."
I bonds
You can withdraw contributions from a Roth with no penalty as well as long as the account has been open 5-years. Bond funds don't look attractive to me at all right now based on YTM and rate increase expectations.
You could also look for a long term CD that has a relatively low early withdrawal fee and might find a CD paying 3.5-3.8% with a 3-month penalty.
"I Bond Earnings Rate 3.36%, Fixed Rate 0.30%
The earnings rate for Series I Savings Bonds is a combination of a fixed rate, which applies for the life of the bond, and the semiannual inflation rate. The 3.36% earnings rate for I bonds bought from November 2009 through April 2010 will apply for their first six months after issue. The earnings rate combines a 0.30% fixed rate of return with the 3.06% annualized rate of inflation as measured by the Consumer Price Index for all Urban Consumers (CPI-U). The fixed rate applies for the 30-year life of I bonds purchased during this six-month period. The CPI-U increased from 212.709 to 215.969 from March 2009 through September 2009, a six-month increase of 1.53%."
I bonds
You can withdraw contributions from a Roth with no penalty as well as long as the account has been open 5-years. Bond funds don't look attractive to me at all right now based on YTM and rate increase expectations.
You could also look for a long term CD that has a relatively low early withdrawal fee and might find a CD paying 3.5-3.8% with a 3-month penalty.
Posted on 1/28/10 at 10:32 pm to 756
Is that for the personal checking or money market?
Posted on 1/29/10 at 6:17 am to Weaver
personal checking- I have had the max in there for several years
Posted on 1/29/10 at 6:00 pm to 756
I was afraid of that, as I don't use debit cards. I will look into that though.
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