Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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Never....as in never ever....put it all in one spot. Unless, of course, that spot is the trash and your goal is to lose it all.
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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Here it is what it comes down to:
(1) Pay off any debt you have
(2) Make sure you have an emergency fund in liquid cash (Nothing too large, think 6 months of expenses -- place in highest interest...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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Thanks for the help everyone. I don't know what other details I can give to be "less vague". I don't have any real debt, and like I said, have no immediate need to spend the money as I wasn't...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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since you seem to be looking for liquid cash,
i would suggest viewpointbank. they have checking acct which gives now 3.0 ( down from 3.93) for amount upto 25,000. this is like the high yield...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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http://www.ally.com/bank/high-yield-cd/#tabs=rates shows 1.89% APY for a 5 year CD
http://www.discoverbank.com/cd.html shows 5 year at 2.00% APY for a CD
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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Check the local credit unions in your area. Mine offers 2% back on their checking account, provided I have a direct deposit and 12 debit transactions. Regardless, it's nice to get $50 from them every...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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pay off any debt you have
dont put it in the bank
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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And why shouldn't he put it into the bank? Interest is good.
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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So in the next week or two, I will be coming into some money (more than $15k but less than $25k). I don't have any accounts at any banks at present, so that said, I'm looking for some options as far...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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Too vague.
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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not bad, I'd switch the first and second, but good advice
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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Doesn't sound like he's going to be moving it around. To earn that type of interest, doesn't he have to have a highly liquid account?
If you have no immediate need to use it, there are lots of...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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You need to set up your 401K and got to contribute at least the amount your company is matching. else sounds like that you were giving up free money.
even if your company is not matching, it is...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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invest in precious metals and triple your investment in one year?
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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If you don't want to lose any principle and need to be liquid in the next few months:
Buy $10,000 in I-Bonds (5k paper till Jan, 5k electronic) per social security number, ~3.06% interest for the...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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Great advice. And like vaultaddict mentioned, maybe switch 1 & 2 depending on your situation. I think it would ultimately depend on your goal with the money. House Down Payment, new car, general...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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Put it in an intermediate muni mutual fund. It will appreciate somewhere between 1 - 5% annually on top of a yield around 3%. Just in case you don't know, munis are exempt from state or local tax...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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No intention to hijack the thread, however I also am in the same situation with a few steps ahead.
I'm currently with a credit union paying very attractive dividends on what I am investing. It's...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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which credit union is that. name .. url ? what are the terms to join.
i am with viewpoint bank which is now down to 3 %.
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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crap... i am in houston and they have a branch 5 blocks away from my work.
but yeah, they don't offer the eSavings/eChecking anymore.
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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Invest in physical silver id say when it drops down to the $26 range, its better then having it in the bank while the federal reserve keeps printing out more money. One other great investment is real...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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No intention to hijack the thread, however I also am in the same situation with a few steps ahead.
I'm currently with a credit union paying very attractive dividends on what I am investing. It's...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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It's Chartway Federal Credit Union. It's open to residents of FL, VA, RI, TX, or city/federal employees from all states under Civil Service. Unfortunately, the eSavings and eChecking are no longer...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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Conservative options: 12-18 mth. CD
12 mth:
https://www.dcu.org/prodserv/r_certificate-index.html
18 mth:
http://www.alliantcreditunion.org/depositsinvestments/certificates/
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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You can consider putting in I-Bond also rate is 3.43% something like that and its lock for year then you can withdraw with 3 month interest as penalty and no penalty after 5 year
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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First, I'm sorry about your loss.
How are you doing saving for your retirement?
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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I appreciate that.
To be honest--I haven't even started. I'm 24 and have a decent job--been there for 5+ years...I make about $30k annually. My wife is a teacher, and she's been paying into her...
Coming into some money soon, what are my options for maximizing interest?
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Thread created 11-01-2011 by prozac4312
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if your company offers a 401k match, you're leaving money on the table... say they offer 1:1 match up to 5%, you are basically losing out on 1500/year with huge potential for compounding until...
