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money question

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Zurp said:
Aww.. crap. Studepaber buzzed in before me. I'd listen to him. He's pre-med.

I mean, he's a financial panther.
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Here's what they taught me at financial panther school.....

1230864907


+

724513345


=

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Oh crap I forgot to carry the denominator...
 
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Taosman said:
As pointed out, ING Direct or E-Trade will pay about 4.75-5 and give you easy access to your money.:biggrin: I've used both.
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IMO the best way to go with liquid money.... as long as you want access to it, those are two good choices as all of you money in the accounts is available in just a few days with no penalties.

Additionally I can send you an link so you get I believe $50 free in an ING acct :) At least I got that.
 
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DCBuckFan said:
IMO the best way to go with liquid money.... as long as you want access to it, those are two good choices as all of you money in the accounts is available in just a few days with no penalties.

Additionally I can send you an link so you get I believe $50 free in an ING acct :) At least I got that.
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PSSSSSSSSSSTTTTT......

That's fantastic that you have that account though He's talking about his 5-7 year money. Not liquid money
I'm voting no on this financial board after seeing what transpired in this thread. It broke down into what everyone is doing individually and how that works for them. The original question was ignored. Nobody gave good advice.
 
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martinss01 said:
the best return on investment given the parameters. i don't want to have to retire to gain access to this particular cash. i also need to have the ability to continually make deposits to this account as this is extra money that crops up every month. i can see myself letting this sit in an account for 5 to 7 years. i don't want this to sit for 50 years. i could see this money being used as a house project fund at some point, maybe buy a car outright depending on how aggressive i get with it in the future, possibly even the start of a college fund for children that to date (and hopefully no time soon) do not exist. the problem is its not enough money to do anything intelligent with, but its too much money to simply ignore. does that make sense?
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disclaimer: I'm not a financial advisor in any way.

Given the fact that you don't want the money tied up til retirement but also don't need access to it for 5-7 years, I would look at some mutual funds. I invest with Fidelity but there are a few other good companies too, T. Rowe Price, Vanguard, etc. Finding a decent mutual fund is not as hard as finding a good stock. For example, take a look at this page which is a listing of Fidelity's highest rated funds:

http://content.members.fidelity.com/mfl/Starfunds2?refpr=ipmf2

If you've never invested before it might be a bit intimidating but honestly it's really not that tough to earn 8-10% a year in returns if the market isn't down the tubes, which I don't see it being anytime soon.

You could even open up a Fidelity account and put your money in something like Cash Reserves which is basically a money market fund with no risk and get back around 4% until you're comfortable putting it in a mutual fund.
 
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BoxCar_Willie said:
PSSSSSSSSSSTTTTT......

That's fantastic that you have that account though He's talking about his 5-7 year money. Not liquid money
I'm voting no on this financial board after seeing what transpired in this thread. It broke down into what everyone is doing individually and how that works for them. The original question was ignored. Nobody gave good advice.
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I'm sorry you feel that way, Willie.
Several of us we're talking about regular money market accounts that pay well, 4.75- 5% and don't tie up your money. :( ING Direct and E-Trade Banking both have that.
 
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Taosman said:
I'm sorry you feel that way, Willie.
Several of us we're talking about regular money market accounts that pay well, 4.75- 5% and don't tie up your money. :(
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Let me know what money market account you have that pays that much unless you have to have a minimum of $50,000 in it. I don't know many paying that much right now. Usually the higher yielding money markets have a high minimum amount of money that you must keep in the account.

BTW, Boxcar does financial planning for a living so I wouldn't question his opinions.

I truswt his advice about the same as NewYorkBuck and others like Akak or gbear.
 
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Thump said:
Let me know what money market account you have that pays that much unless you have to have a minimum of $50,000 in it. I don't know many paying that much right now. Usually the higher yielding money markets have a high minimum amount of money that you must keep in the account.

BTW, Boxcar does financial planning for a living so I wouldn't question his opinions.

I truswt his advice about the same as NewYorkBuck and others like Akak or gbear.
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Thump is correct on this , the minimum is $25000 for a 4.4 rate for 3 months.

Lets not be discouraging and try to encourage his saving! I think he should still call ING Direct and E-Trade Banking for help in getting started.
 
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