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Savings/ Investing

punky's picture
July 1, 2008 - 7:19pm — punky

Does anyone dabble in money markets or have a e-saving account?
I want to put my money someplace with a better interest rate. But it has to be low risk...anyone have any advice?

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July 1, 2008 - 8:52pm — Linnea
Linnea's picture

Re: Savings/ Investing

Paypal gives a pretty decent return all things considered. You should really look into retirement funds, I can set you up with someone from DCU if you want to discuss them.

July 1, 2008 - 9:19pm — 4rilla
4rilla's picture

Re: Savings/ Investing

Exchange those pesky US Dollars for Euros, and just sit back and relax.

ING Direct savings will give you 3% right now, there is an HSBC that will give you 3.5%.

If you don't need the funds to be totally liquid you can get a 1 year CD that will earn you a little over 4% from lots of places right now...

July 1, 2008 - 11:17pm — duncan
duncan's picture

Re: Savings/ Investing

I have a little bit of money in the PayPal money market account, but I use E*TRADE for most of my savings. Their "complete savings" account is earning 2.97% at the moment.

I have no complaints about the E*TRADE account, and having the the savings right there is nice for those impulsive stock purchases.

July 2, 2008 - 8:24am — Craiglucantus
Craiglucantus's picture

Re: Savings/ Investing

i use fidelity. they have a free checking account that acts just like any other e-checking account.

they give u checks and an atm card for it even if you want.

the beauty of it though is it is also a fidelity savings/investing account... you can just leave the $ in there and get like 3% or you can use $ in the account to buy any fidelity fund for free. there are literally thousands of funds to choose from. low risk, high risk, stock market funds, bond funds whatever you want.

i find this is the best option for me. i have my bank of america linked up to this so i can just transfer savings over and back...

its really pretty easy and a WAY better option than some CD if you pay attention to it. i got like 7-8% last year on my savings $ with a few low risk funds.

"what?"

July 2, 2008 - 9:35am — Jeff
Jeff's picture

Re: Savings/ Investing

If I could swing it I'd be buying every piece of land/property that I could afford to carry until the market picks back up! Of course I cannot afford to do that now....

Jeff

July 2, 2008 - 10:38am — Craiglucantus
Craiglucantus's picture

Re: Savings/ Investing

funny... thats exactly what every major investor is doing right now.

while everyone is running and screaming that the world is going to end and that we are in a recession and running scared about 4$ for gas, billionaires are pouring all their money into buildings and businesses.

economic chaos. i love it.

July 2, 2008 - 11:21am — punky
punky's picture

Re: Savings/ Investing

I don't have a lot of money. I so wish I could buy another house.
I just want to move my savings to a place it will make more then $2 a month in interest.

July 2, 2008 - 11:31am — Craiglucantus
Craiglucantus's picture

Re: Savings/ Investing

im telling you yo...
a low risk money market fund or a moderate risk bond fund is ur best bet.

they can help u set it all up too

July 2, 2008 - 11:55am — Jeff
Jeff's picture

Re: Savings/ Investing

Craiglucantus wrote:
funny... thats exactly what every major investor is doing right now.

while everyone is running and screaming that the world is going to end and that we are in a recession and running scared about 4$ for gas, billionaires are pouring all their money into buildings and businesses.

economic chaos. i love it.

That is because you always try to make your money on the buy....not the sale!

Jeff