a few years ago (before i had a real job) i closed my savings account because i couldnt maintain the minimum balance

fast forward to now and i have a checking account with way too much money in it to clearly be earning any interest

does anyone have experience with branchless banking like ing?

toilet should probably just be @ joe

my mom used to have her savings in ing when she lived in greece and only because ceo of the bank was her close friend

imo credit unions are the way to go, they generally treat the customer the best our of any institution ive dealt with

and what to do with your cash is really a question of: how long do you want it tied up for/how accessible do you want it (the longer/less accessible the higher return ofc)

what level of return are you looking for? are you looking to invest or just have your money in a higher(er) yield interest account?

i have no experience with branchless banks, but then again i treat my bank as a branchless bank. its about 300 yards from me, i go there maybe once a year.

whats your goals gary

When I grow up I want to be a firetruck.

fuck bitches, get money

p sure this was my first book, thus my first dream

however it pales in comparison to being a truck

I use PSECU like mr stakem, can have savings, money market, checking, and CD's all accessible online and use surcharge free atms at wawa/sheetz...very good cust service too

samesies

rates blow dick these days so youll want to weigh that out when determining what to do

get money get paid

i want to have my checking account have enough for bills + about $1k

the rest in savings, with maximum return since it will be out of sight out of mind

i would like to invest eventually but for now just high interest savings

cd's offer a very low risk, better than average return, and often still allow you to pull it out if you need it
you could go with a high(er) yield return savings, though those often have a yearly fee, though they offer a greater ability to withdraw with no penalty. ie something like 1-2 transactions per month

imo go find your local credit union and check their rates (which ofc are proal online too). to me it seems like a better savings account or a cd is your best bet.

put it in a IRA

a bit less liquid but viable
i think its 5k max this year, raised every few years

Invest in CDs with credit unions, look into investing additional income into tax-exempt accounts like an IRA/401k. You should be able to invest tax-free in a lot of savings accounts that are FDIC insured and mostly/entirely non-taxable since you are clearly bourgeoisie rich.'

PENNY STOCKS

Gary, you're in MD and don't know about MECU?

I have a Savings with interest and even though it's empty for like 2 years now I havent been penalized.
They also have other options too, check them out.

i have a 401k

i put 10% of my paycheck into it + 6% company match

ok

I've never done anything like this before but I have about 5 grand I'd like to invest..what would be something good to invest it in?

with all investments you have to know how long do i want my money tied up for, do i want to be able to touch that money, what kind of penalties are there for needing that money before a predetermined amount of time, and ofc risk

so for example, very low risk/low return is a cd through a bank. http://www.selectcdrates.com/ for a rough idea of rates. they cover inflation + a bit. you pay a penalty for early withdraw. Savings accounts also offer roughly the same yield under the short term, and are more lenient on withdraws, though a limit on monthly transactions.

as dale said, and ira is fine idea, but this is a long term thing. think 401k on a more limited scale. max amount yearly you can invest as tax deferred, and restrictions on why you can withdraw. you can just tell them you need your cash. they will tell you to i shit my pan­ts.

a money market fund (basically a high yield/min balance account) is another viable investment option, decent over the short term, very secure. but the rates vary on that, where a cd for example is a set rate.


honest, go find your local credit union that you qualify for and talk to them. in 20 minutes you will have all you need imo.

Contractually give me like 14k to pay off my 13%+ student loan and I will give you 7% over 10 years

thats clearly bad really

I know, it would save me a ton too

Dam being young and clearly having a credit history

god damn im in the wrong business

have you talked to any banks about getting a loan for that?

Yea I just get denied even with a cosigner because I have no history

Even though it is obvious with my salary it is more than easily covered two fold

either wait a year or two and try again, or just pay off the school one early. any benefit to pay early? discount in interest?

less occurred interest

problem with paying it off early its kinda impossible unless i live like a hermit unless i can get a better rate

I already spend 900$ a month on school loans

wow, wtf lol

do they have a consolidation program at all?

http://studentaid.ed.gov/PORTALSWebApp/stu...nsolidation.jsp

Thats federal loans, my majority of loans come from private loans

I have 20k of fed at like 6% which is no biggie

he wouldnt be getting raped with those interest rates from the govt

private loans through who?

this is where a capt obvious comes in, but i didnt want to make assumptions on his situation
i left college with 3 different loans (govt loans iirc), and was paying upwards of 500 a month, 10 years ago. never know.

This post has been edited by blind_chief on Wed - Feb 23 2011 - 19:34:46

4*, forgot the emergency loan i took from the school itself due to our student loans being delayed a month and no one having money for rent etc

tried again with wells fargo but my sister and dad dont work as cosigners
doh!

GOBAMA

You really wont make any money in money market savings.... CD suck ass since the late 70's and your too young to do this.... Dont invest in the market its too up down...and i think its gonna crash again soon. Gold has been going through the roof. Apple was 230 last year and ppl laughed at me when we pooped on this and now its over 350.. hhmmmmmm

how can we find that poop from last year when someone pooped about what stock would you buy

hes clearly looking for any type of real investment as i took it, just something to do with his cash for a short while, which cds etc provide an inflation coverage at the very least

I owe a total of under $20k for college and haven't paid for anything yet. Hurray for a public school where that will be less than a year's tuition in 6 years.

Invest in upcoming chinese companies

G how much $$ are you talking about.

Seriously, join a credit union and start with CDs, look at other options they offer.

laying this up for a too