Paypal money market/savings account

[PiercedE30]

Go with an Orange saving account. FDIC insured, and it makes like 5.0% interest. Believe me, I have had one for about a year and a half now and it is a great account to have.

[87-325ic]

i thought for sure it was a monthly thing, but im not arguing that point, its probably annual.

ive thought of sticking a 1000 or two in there for a few months, but if i had the money to give enought to really make a return, i would put it somewhere safer. FDIC insured...

Can anyone shed some more light on the stock market? im new to this whole investing game..

[ivo316]

OK, here's my advise, go buy a classic car, once it's 100 points, store it and watch yur savings grow at 100% a year.



Sale 1863, Lot 26
1949 Chrysler Town & Country
Estimate: $90,000-140,000

This is from

http://www.christies.co.uk/features/...3/overview.asp#

So, think about it, look for these in the local farms ou there and fix 'em

[Justin B]

I see that it has been recently mentioned, but I used to have a grip of money in my ING savings acct making a pretty solid %, I forget what exactly, but at least 4.5% I think. 5% now apparently. Unfortunately Ive pulled most of it out to use on my 2002 and haven't paid myself back yet...pretty decent money in interest though when its left there for a while.

[blunttech]

I see that it has been recently mentioned, but I used to have a grip of money in my ING savings acct making a pretty solid %, I forget what exactly, but at least 4.5% I think. 5% now apparently. Unfortunately Ive pulled most of it out to use on my 2002 and haven't paid myself back yet...pretty decent money in interest though when its left there for a while.

and blunt tech thanks you. if it makes you feel any better my sister is investing your money for me justin

[browntown]

Actually, you would not make $50 in a month, but rather a year. The 5.02% is an annual percentage rate, so each month, you are only getting 1/12th of that 5%.

I prefer using ingdirect.com for my savings account.

+1 APR means Annual

+1 INGdirect is awesome, used it for years.

Dont forget those interest earnings are taxable as income, see your 1099-I

max out your 401k 1st. I take every chance to *lower* my paycheck with pretax deductions. 19% to 401k (I'm fortunate to work for a company that gives me 9% free, I contribute 10%), close to 1k to my FSA, etc.

The lower your reported earnings, the lower your taxes. End point: you pay a lot more in taxes each year than the 5% turnaround you're after. Lower your tax liability and it's making money.

[Justin B]

and blunt tech thanks you. if it makes you feel any better my sister is investing your money for me justin

lol okay. Well, you're welcome, and thank you too! :finger:

:D

[RobertK]

all of those interest rates are crap. you guys are young, so you need to take on more risk - a 4-5% interest rate is barely above inflation. they call it going broke safely for a reason. buy bonds and CD's when you are close to retiring, not when you are young...

the stock market had a slow year and it still did 6%...

I keep at least $1000 in a money market account for emergencies so I can have instant access to them without penalties.

If the topic is investing then Roth IRAs, Roth 401ks, and generally good growth stock mutual funds are the place to save for retirement. The difference is what you plan on doing with the money. Investing money you might need immediate access to is not good to place into a long term investment and long term investment money should not be placed into a low yield money market account, bonds nor certificates of depreciation.

[netcsk]

I'm 20, didn't have a lot to invest initially (~$3000), and am willing to take some risk. I'm investing in a Latin America mutual fund in my roth IRA. They commonly make 30% a year, but at the same time they can lose 20% in a year (seems to be once every 5-10 years). The quicker you grow now, the more you'll be able to jump in the future.

[RobertK]

I'm 20, didn't have a lot to invest initially (~$3000), and am willing to take some risk. I'm investing in a Latin America mutual fund in my roth IRA. They commonly make 30% a year, but at the same time they can lose 20% in a year (seems to be once every 5-10 years). The quicker you grow now, the more you'll be able to jump in the future.

Volatile markets are something I wouldn't mess with unless you can afford the risk of loosing the $3000. Best thing is to find something with a solid track record of 12%+ in yearly returns. What matters is the average over the period of time you invest.

I watched one of my best friend's borrow $10,000 from his credit card to buy penny stock in "Gamez N Flix" the stock was always up and down. In the end he lost more than he made after CC interest and well.. the stock sucked. The one day he could have made his money back he didn't sell it because he was convinced it would go even higher.

[netcsk]

Like I said, I'm young enough and will make plenty of money in two years to where the $3k wont look like much, even if I do end up losing some.

[Eric]

Lower your tax liability and it's making money.

go work for dynacor in Qatar for a year. 90k tax free.

[ptownTSI]

both Etrade and HSBC have super easy to use online services and pay 5% interest.

you can also ladder 6mos CD's with a few companies (check on www.bankrate.com) and you can make 5.4%.

with $3000 to invest I would buy a balanced mutual fund that averages about 10%.

[Kruzen]

ING direct ftw.

4.8% savings, 4% checking. No bullshit fees.

Msg me for an invite you get 25$ for free.

[nkell09]

HSBC 5.05% savings

http://us.hsbc.com

FDIC insured.