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post #1 of 17 Old 08-09-2005, 5:51 PM Thread Starter
 
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Investing 101?

I know asking for investment advice is a pretty open ended deal, but we've had a pretty good year so far and would like to make some of the money in savings earn a little more than the paltry 2% return that the banks are offering.

I had a very bad experience with Fidelity a few years ago and will never allow them to make a penny off of me again but do any of you guys out there have any suggestions? We would like to stay fairly liquid since a home purchase looms in the near future (yes, we're moving again).

Proofread carefully to see if you any words out.

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post #2 of 17 Old 08-09-2005, 5:56 PM
 
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Re: Investing 101?

If it is for a short term it is not investing be happy with the sure thing 2% with almost zero risk. Short term speculation for a small gain should be avoided.

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post #3 of 17 Old 08-09-2005, 6:01 PM
 
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Re: Investing 101?

Buy a thousand dollars worth of Iraqi dinars. If they can turn the economy there around to 1991 levels that will make you a millionaire.

And then there's this asshole...
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post #4 of 17 Old 08-09-2005, 6:02 PM Thread Starter
 
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Re: Investing 101?

Looking for more long term - no get-rich-quick expectations, either. Middle of the road risk-wise... I just hate to tie up funds in CD's etc. where there is a penalty for accessing your own cash.

Proofread carefully to see if you any words out.

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post #5 of 17 Old 08-09-2005, 6:04 PM
 
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Re: Investing 101?

There are several Credit Union and Savings banks offering 3.8% on standard savings accounts (no penalty to withdraw).

and your girlfriend too.
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post #6 of 17 Old 08-09-2005, 6:06 PM Thread Starter
 
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Re: Investing 101?

Quote:
Originally Posted by abtech
There are several Credit Union and Savings banks offering 3.8% on standard savings accounts (no penalty to withdraw).
Not bad - almost double what the franchise banks are offering...

Will look into that. Thanks!

Proofread carefully to see if you any words out.

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post #7 of 17 Old 08-09-2005, 6:09 PM
 
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Re: Investing 101?

Quote:
Originally Posted by BizJetGuy
Not bad - almost double what the franchise banks are offering...

Will look into that. Thanks!
It'll cost you a plane ride one of these days . . .

and your girlfriend too.
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post #8 of 17 Old 08-10-2005, 9:21 AM Thread Starter
 
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Re: Investing 101?

Checked some of the local Credit Union rates and they are comparable to the franchise banks. No real deals to be found.

I hate to walk into one of those Investment storefronts (TD Waterhouse, Fidelity, etc.) so maybe I'll look into something like e-trade. I just never educated myself on investing

Proofread carefully to see if you any words out.

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post #9 of 17 Old 08-10-2005, 9:52 AM
 
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Re: Investing 101?

Live for the moment, forget about the future... buy another bike.
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post #10 of 17 Old 08-10-2005, 10:42 AM
 
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Re: Investing 101?

I have always heard that a Harley Davidson is a Great Investment!!

At least that is what all the R.U.B's around here say
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post #11 of 17 Old 08-10-2005, 11:28 AM
 
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Re: Investing 101?

Quote:
Originally Posted by abtech
There are several Credit Union and Savings banks offering 3.8% on standard savings accounts (no penalty to withdraw).
I have seen money market accounts that pay up to 5%. They usually require you to keep $5000 in the account as long as you have the account. They will even let you write like 5 checks a month as long as you keep the minimum.

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post #12 of 17 Old 08-10-2005, 11:41 AM Thread Starter
 
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Re: Investing 101?

Quote:
Originally Posted by EDDIE110171
I have seen money market accounts that pay up to 5%. They usually require you to keep $5000 in the account as long as you have the account. They will even let you write like 5 checks a month as long as you keep the minimum.
Do tell...

I looked into the money market accounts at Bank of America this past weekend and they have two rates - the standard which is about half a percent higher than the savings rate, and their premium rates which are in the 2 - 3% range, depending on the balance. To get the premium rates, however, you have to switch to an "advantage" account that has a few restrictions that I don't particularly care for.

Proofread carefully to see if you any words out.

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post #13 of 17 Old 08-10-2005, 12:07 PM
 
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Re: Investing 101?

Quote:
Originally Posted by BizJetGuy
Do tell...

I looked into the money market accounts at Bank of America this past weekend...the premium rates, however, you have to switch to an "advantage" account that has a few restrictions that I don't particularly care for.
Try a few different banks and if you have access like abtech said, the credit unions usually have the best deals.

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post #14 of 17 Old 08-10-2005, 12:19 PM
 
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Re: Investing 101?

How about CD's?

30 secs on google looks like they're getting around 4%. They do either lock your money out, or charge the interest as a penalty if you withdraw early...but you seem to know when your house purchase will be so you can plan accordingly.




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post #15 of 17 Old 08-10-2005, 12:21 PM
 
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Re: Investing 101?

This is what my credit union is curently paying.
Attached Files
File Type: doc Special Earnings Access SEA Money Market.doc‎ (27.0 KB, 9 views)

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