What is a good place to put money that I wont touch for 4 years? - Honda Motorcycles - FireBlades.org
Off-Topic Discussion of anything that doesn't fit anywhere else. If it's related to motorcycles in any way, DO NOT post it here. Post it in General Discussion or a more specific forum.

User Tag List

Reply
 
LinkBack Thread Tools
post #1 of 32 Old 11-07-2005, 3:01 PM Thread Starter
 
stegen's Avatar
 
Join Date: 12-29-2001
Location: La Crosse, Wi
Age: 38
Posts: 3,301
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 22
   
What is a good place to put money that I wont touch for 4 years?

I am going to wait to buy a house for atleast 4 years. I would like to start something (an interest building account) that is locked (meaning I CAN NOT touch it till 4 years are up) and I dont know what is out there. Any of you finance gurus care to give me ideas of where to stick my money?

Life is Good, Life is Great
stegen is offline  
Sponsored Links
Advertisement
 
post #2 of 32 Old 11-07-2005, 3:05 PM
 
phobiaphobe's Avatar
 
Join Date: 05-23-2004
Location: Omnipresent
Age: 37
Posts: 11,499
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 43
                     
Send a message via MSN to phobiaphobe
Re: What is a good place to put money that I wont touch for 4 years?

You can lock it up in a term deposit... probably only pay 3 or 4 points but it's guaranteed and you can't access it.

edit: I'll bet if you were to ask your banker they would have some sort of "home savings plan" tailored to exactly that purpose.


.

And then there's this asshole...

Last edited by phobiaphobe; 11-07-2005 at 3:17 PM.
phobiaphobe is offline  
post #3 of 32 Old 11-07-2005, 4:25 PM
 
sheepofblue's Avatar
 
Join Date: 07-12-2004
Location: Huntsville AL
Posts: 14,224
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 48
                     
Send a message via AIM to sheepofblue
Re: What is a good place to put money that I wont touch for 4 years?

Disclaimer: I am not an expert

I would recommend 6-12month CDs (or money market if the rate matches). While you may earn less you will not lose principal. Given your timeline you are on the edge of a long term investment but I would think the risk out weighs the gain. Also I would not let the convince you to go longer term since return rates are rising.

Must obey the sheep dog
sheepofblue is offline  
Sponsored Links
Advertisement
 
post #4 of 32 Old 11-07-2005, 4:29 PM
 
Northern RR's Avatar
 
Join Date: 07-13-2004
Location: Living in Barrie, thinking about the gap
Age: 39
Posts: 1,657
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 17
 
Send a message via MSN to Northern RR
Re: What is a good place to put money that I wont touch for 4 years?

I don't know how it works in the states but I know that I used a first time home buyers plan with my RRSP's they let you withdraw all of your investments and use them as a down payment, giving you 15 years to pay them all back intrest free...Pretty good deal if you ask me. Ask your banker/investment person if they know of anything similar?

Canada post has came and gone, now they are coming again ...
Northern RR is offline  
post #5 of 32 Old 11-07-2005, 4:44 PM
 
sheepofblue's Avatar
 
Join Date: 07-12-2004
Location: Huntsville AL
Posts: 14,224
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 48
                     
Send a message via AIM to sheepofblue
Re: What is a good place to put money that I wont touch for 4 years?

Quote:
Originally Posted by Northern RR
I don't know how it works in the states but I know that I used a first time home buyers plan with my RRSP's they let you withdraw all of your investments and use them as a down payment, giving you 15 years to pay them all back intrest free...Pretty good deal if you ask me. Ask your banker/investment person if they know of anything similar?
NEVER do that in the US. The loan is due if you leave the company (voluntarily or not)

Must obey the sheep dog
sheepofblue is offline  
post #6 of 32 Old 11-07-2005, 5:05 PM
 
Northern RR's Avatar
 
Join Date: 07-13-2004
Location: Living in Barrie, thinking about the gap
Age: 39
Posts: 1,657
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 17
 
Send a message via MSN to Northern RR
Re: What is a good place to put money that I wont touch for 4 years?

Quote:
Originally Posted by sheepofblue
NEVER do that in the US. The loan is due if you leave the company (voluntarily or not)
I guess that it sucks to be you guys then

Canada post has came and gone, now they are coming again ...
Northern RR is offline  
post #7 of 32 Old 11-07-2005, 5:44 PM
 
phobiaphobe's Avatar
 
Join Date: 05-23-2004
Location: Omnipresent
Age: 37
Posts: 11,499
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 43
                     
Send a message via MSN to phobiaphobe
Re: What is a good place to put money that I wont touch for 4 years?

I was gonna dump my RSP into my home with the first-time homebuyers plan but changed my mind at the last moment... Tax is too high and money is too cheap.

And then there's this asshole...
phobiaphobe is offline  
post #8 of 32 Old 11-07-2005, 6:18 PM
 
Northern RR's Avatar
 
Join Date: 07-13-2004
Location: Living in Barrie, thinking about the gap
Age: 39
Posts: 1,657
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 17
 
Send a message via MSN to Northern RR
Re: What is a good place to put money that I wont touch for 4 years?

This was 5 years ago...I am still very happy with my decision, I have almost paid it all back and have still made decent returns on the money I used to do it.

Canada post has came and gone, now they are coming again ...
Northern RR is offline  
post #9 of 32 Old 11-07-2005, 6:28 PM
 
ND4SPD's Avatar
 
Join Date: 07-07-2002
Location: US
Age: 16
Posts: 16,568
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 50
                     
Re: What is a good place to put money that I wont touch for 4 years?

Bank of Nigeria
ND4SPD is offline  
post #10 of 32 Old 11-07-2005, 7:35 PM
 
Join Date: 02-04-2004
Location: Miramar, FL USA
Posts: 99
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 16
 
Re: What is a good place to put money that I wont touch for 4 years?

Invest in motorcycles.

Buy an apartment and rent it out.

Start a loan sharking business.
azamora954 is offline  
post #11 of 32 Old 11-07-2005, 7:40 PM
 
CBR929RE's Avatar
 
Join Date: 05-06-2004
Location: Randolph, MA
Age: 38
Posts: 12,773
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 39
                 
Send a message via AIM to CBR929RE
Re: What is a good place to put money that I wont touch for 4 years?

Quote:
Originally Posted by ND4SPD
Bank of Nigeria
I'll loan you $3000 but first you have send me a check for $15000 which I'll cash in Nigeria and send you back the difference.

if you can't convince them, confuse them.
CBR929RE is offline  
post #12 of 32 Old 11-07-2005, 10:16 PM
 
smkeatr's Avatar
 
Join Date: 08-11-2001
Location: Central Florida
Age: 49
Posts: 1,664
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 21
   
Re: What is a good place to put money that I wont touch for 4 years?

You would be better off buying a home you are not completely satisfied with and sell it in 4 years for a healthy profit. Count the money you didn't piss away on rent for 4 years profit as well.
smkeatr is offline  
post #13 of 32 Old 11-07-2005, 10:43 PM
 
sheepofblue's Avatar
 
Join Date: 07-12-2004
Location: Huntsville AL
Posts: 14,224
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 48
                     
Send a message via AIM to sheepofblue
Re: What is a good place to put money that I wont touch for 4 years?

Quote:
Originally Posted by smkeatr
You would be better off buying a home you are not completely satisfied with and sell it in 4 years for a healthy profit. Count the money you didn't piss away on rent for 4 years profit as well.
Not everywhere has property that is going up at a stupid rate like FL

Must obey the sheep dog
sheepofblue is offline  
post #14 of 32 Old 11-07-2005, 10:50 PM
 
Join Date: 03-02-2004
Location: Melb/Vic/Aust
Age: 40
Posts: 1,174
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 17
 
Send a message via MSN to Cowboy1600
Re: What is a good place to put money that I wont touch for 4 years?

Quote:
Originally Posted by smkeatr
You would be better off buying a home you are not completely satisfied with and sell it in 4 years for a healthy profit. Count the money you didn't piss away on rent for 4 years profit as well.
What are the extra costs over there for buying a house? For example stamp duty, legal fees, surveying etc?

Ovver here you need to hang on to a house (say if your buying round the $AU250,000 mark which doesnt get you much) for at least 7 years to break even. If you guys dont have such big costs associated with buying a home then Id say definately put it into a house.

Else prolly just wrap it up in a term deposit. You could no doubt make it work harder if you searched around, but term deposits are safe and flexible. Id go 12 months at a time, and just roll it over for the next 4 years. You never know when you might NEED the money for something very important. Itd suck to know you have to wait 2 1/2 more years before you can touch it.

Poking the Devil with a stick then running away
Cowboy1600 is offline  
post #15 of 32 Old 11-07-2005, 11:01 PM
 
abtech's Avatar
 
Join Date: 06-05-2001
Location: Murder City, Michigan
Age: 69
Posts: 8,271
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 39
                 
Re: What is a good place to put money that I wont touch for 4 years?

A very wise person once told me that a house is really a good investment ONLY if you can use it. This person was not a real estate speculator obviously, but the fact that you can get into something modest today, work on it a little for the next few years while earning a POSSIBLE return on your investment is only valid to John Doe if he can USE it in the meantime.

Unless you are a broker or have lots of time and cash to spend on repairs and upgrades, most people won't reap a lot of benefits trying to buy and sell homes in a volatile market.

Still, probably a very sane investment for you and your family . . .

and your girlfriend too.
abtech is offline  
Reply

  Lower Navigation
Go Back   Honda Motorcycles - FireBlades.org > Other > Off-Topic

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Honda Motorcycles - FireBlades.org forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
A valid e-mail address is REQUIRED. You will not have access to any site features until you activate your account using the activation e-mail that is sent to this address.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
LOOKING FOR A GOOD PLACE TO RIDE IN THE L.A. AREA sito Western USA 5 11-25-2005 1:40 AM
What is a good FAX program for my computer? SPEED Off-Topic 10 02-14-2005 10:43 PM
What to watch for on 2 good to be true? sheepofblue General Discussion 59 01-20-2005 1:38 PM
Where is a good place to buy a battery? Jay General Discussion 3 06-10-2004 10:47 PM
What is that box to connect all gaming systems? itsdesignateddave Off-Topic 6 12-27-2003 5:13 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

 
For the best viewing experience please update your browser to Google Chrome