Taffi and I had a wonderful discussion in another thread about where folks put their savings and investment money.


She mentioned a 5.6+% interest CD from Citibank. I mentioned the 5.05% HSBC is offering on regular accounts.


We also talked about a few of the online stock brokers.

Where are you guys putting your money?

What interest rates are you getting?

Do you have an emergency savings account?

Is all your money in one place?

What are you saving for? (House, car, school, etc)

How are you savings for your kids's college education?

How are you investing for your own retirement or future?




Get dat money out da dat old mattress 'fore da house burn down! LOL! :p


~~

Where are you guys putting your money?
MOney Market Savings Account


What interest rates are you getting?
Interest Rates
With Money Market Savings, interest is compounded and credited monthly.
Interest Rate: 1.98% APY: 2.00%


Do you have an emergency savings account?
Yes we do.

Is all your money in one place?
Three different accounts, all savings.

What are you saving for? (House, car, school, etc)
House and Kids College

How are you savings for your kids's college education?
Same Money market Account

How are you investing for your own retirement or future?
We purchased a house in preconstruction that we plan to pay fully within 15 years and hopefully it will be our investment for retirement.

Say savings account, one can only wish. I am lucky if i have a dollar left over at the end of a pay period. Rent, light, water, gas, car payment, phone, i am lucky to have enough left over for a beer much less a savings account.

I een gat no money to maintain.

underneath the rusty machete .... :sailing:

underneath the rusty machete .... :sailing:

thought it was to the bartender

thought it was to the bartender

I thought it was to prawn :shaky:

thought it was to the bartender

nah, that stopped long time now .. mostly just the gas station now .. occasional food store also :D

I thought it was to prawn :shaky:

thats free ;)

Say savings account, one can only wish. I am lucky if i have a dollar left over at the end of a pay period. Rent, light, water, gas, car payment, phone, i am lucky to have enough left over for a beer much less a savings account.

Well here is a piece of advice I like to give to all the young fellas I meet 'cause its really the best advice I think someone ever gave me when I was a young man, approx 22 years of age.

This good gentleman asked me if I was saving my money and I told him no, because by the time I got through paying bills, etc, etc, I had practically nothing left..

Well he asked me what the H... was I working for if I could not save anything of what I earned? He practically cussed me out and told me to go and park my bicycle and go hustle or gamble like some of dem foolish fellows down the road.. well that was a revelation to me and that same week I started a bank account and saved a little of my pay every payday..

Looking back now, I realised that that man was a godsend, 'cause if it wasn't for his advice, I think that in my retirement now I would have been broke, busted and disgusted!

I say when ya young and broke, its not too bad, but God help ya if ya old and broke! And not too long ago I heard a report that many in the great USA end up retiring with very little -- that is very degrading..

["There is nothing so degrading as a constant anxiety as to ones means of livelihood; money is like a sixth sense without which the other five are useless!" --Somerset Maugham]

...my savings is with one of the banks mentioned. I'm not trying to invest in anything right now. Apart from savings, money is in house and land. Not that these are good choices, just the choices I have right now. I'm trying to save as much as possible for as long as possible. I have a fund for my daughters, a fund for my mother, I'm saving for continuing ed....and I think that's about it.

I am put my money in a savings account right now for continuing education. Would love to gather some capital for investments to grow while I am in school.

well seriously, other than the sharpened rusty machete as a money holder, I just dumped $10K in a savings account for now .. may have to pay the bills with that though if more regular money doesnt keep coming in, on time. ..

Shed....well...I happy for yinna. At least yall gat money to plan. My money done plan out. I only cud hope for a big lotto powerball!

Shed....well...I happy for yinna. At least yall gat money to plan. My money done plan out. I only cud hope for a big lotto powerball!

Watch out for them fruit machines now, I got caught up in them when i was over there before ... man yah win some, then loose alot :(