talkin money guys

[toolfan89 10+ year member]

alrighty then. im trying to figure out some good ways to save invest my money wisely. for the past few weeks ive had to watch these videos of dave ramsey ( youtube him if ya dont know him) in a class and both him and my teacher preached about investing in mutual funds. and they both were saying you could earn between 10-18% intrest in these so called funds. anybody have experience? from listening to my mom rant about how bad the economy is i have a hard time believing it. plus at the moment my savings account which has around 800 or so is only pulling in 2% and if i put it in a cd it would only get at most 3 or 4. so any of ya got some advice.:boobies::boobies:

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[jaredspl 10+ year member]

start a retirement fund. pretty good interest rates if you find the right company.

 

[97gp 5,000+ posts]

Wheres flip?

 

[Flipx99 5,000+ posts]

I'm here.

Will post my thoughts on dave ramsey tomorrow morning. Let's put it like this....if you are a stupid fcck and wish to stay perpetually lower middle class...then listen to dave ramsey.

If your teacher/professor/preacher/etc has a problem with it, I will give them my email, phone, etc and proceed to school them on modern finance.

There is a huge difference between AVERAGING and CONSISTANCY...they are not the same.

 

[slick rick 10+ year member]

So let's say you had about 30k to use, wanted it to be safe, and did not want to use it to pay off a year of grad school...what would you do flip? Cd's are terrible right now...

 

[Flipx99 5,000+ posts]

So let's say you had about 30k to use, wanted it to be safe, and did not want to use it to pay off a year of grad school...what would you do flip? Cd's are terrible right now...

When do you need it?

Believe it or not, I am a huge fan of i-bonds. However, they are limited to $5k in investment. A couple CDs are yielding around 3.4% however IIRC e-trade high yield savings may give a slightly better yield.

I'd stay away from mutual funds at the moment....esp if the $$ is short term. Many trading firms charge ~ $50 for trading before 90 days after purchase.

 

[slick rick 10+ year member]

When do you need it?
Believe it or not, I am a huge fan of i-bonds. However, they are limited to $5k in investment. A couple CDs are yielding around 3.4% however IIRC e-trade high yield savings may give a slightly better yield.

I'd stay away from mutual funds at the moment....esp if the $$ is short term. Many trading firms charge ~ $50 for trading before 90 days after purchase.

Hmm...don't need the money for at least 2 years pending if I work a govt job (later) or private practice (sooner). I'm getting 4.8XXX on CD's but they end very soon. How much can I get on an i-bond roughly?

 

[iowaaurora 10+ year member]

invest in silver

100$ an once high side 5 years

in my wildest dreams

 

[Flipx99 5,000+ posts]

Hmm...don't need the money for at least 2 years pending if I work a govt job (later) or private practice (sooner). I'm getting 4.8XXX on CD's but they end very soon. How much can I get on an i-bond roughly?

The problem with the i-bond, as I mentioned earlier was the $5,000 limit.

What I would suggest in your case is one of two options...

1) Money market mutual fund that would yield 3.xx

2) Ladder your CDs such that you would be able to take advantage of some increases in rates as several intervals. Oftentimes, banks give a slight premium for investing $10k and up.

So you could split the $30k up three ways...

Buy one 6 mos CD, one 1 year, and one 2 year (if available)...you would roll the 6 mos over every time. This allows you to maintain some liquidity while maximizing yield at the best rate. I wouldn't suggest stocks at this point.

 

[1991Brougham 10+ year member]

Buy and sell things you know well. Craigslist is your friend. You watch for the killer deals from desperate people, snag the stuff if everything is solid, then turn it. By working your own money, your APR will be HUGE instead of in single digits. The key word here is WORK. When you put money up for investment, someone else is working the money and making most of the profit.

Rick

 

[xxBURT0Nxx 10+ year member]

The problem with the i-bond, as I mentioned earlier was the $5,000 limit.
What I would suggest in your case is one of two options...

1) Money market mutual fund that would yield 3.xx

2) Ladder your CDs such that you would be able to take advantage of some increases in rates as several intervals. Oftentimes, banks give a slight premium for investing $10k and up.

So you could split the $30k up three ways...

Buy one 6 mos CD, one 1 year, and one 2 year (if available)...you would roll the 6 mos over every time. This allows you to maintain some liquidity while maximizing yield at the best rate. I wouldn't suggest stocks at this point.

Hmm.. why wouldn't you reccommend stocks? Not trying to argue lol just wondering why you wouldn't? At what point would you invest in stocks if ever and why so?

 

[slick rick 10+ year member]

The problem with the i-bond, as I mentioned earlier was the $5,000 limit.
What I would suggest in your case is one of two options...

1) Money market mutual fund that would yield 3.xx

2) Ladder your CDs such that you would be able to take advantage of some increases in rates as several intervals. Oftentimes, banks give a slight premium for investing $10k and up.

So you could split the $30k up three ways...

Buy one 6 mos CD, one 1 year, and one 2 year (if available)...you would roll the 6 mos over every time. This allows you to maintain some liquidity while maximizing yield at the best rate. I wouldn't suggest stocks at this point.

Thank you sir...your ideas make sense.

 

[joetama 5,000+ posts]

Flip I have an idea.

I'm thinking we need to do a get rich quick video scam and make a bunch of money off of that.

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