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Stupid Finances Thread.

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  • #16
    what about Certificate of Deposits?
    couldnt you, in theory, withdraw the money you put in each month at the end of the year and put it in a year CD? and when the cycle starts then you make pretty good amounts of money. especially if you get the right CDs which could be at about 5.5% depending on bank and amount.
    CHRIS PETERSEN > STEVE SARKISIAN AND JIM MORA. CALL ME WHEN ONE MAKES A BCS BOWL.


    Originally posted by slightlyabroncosfan
    JBalla is mormon, so naturally he assumes that whenever you get one marriage done, another two or five are in the works.

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    • #17
      Originally posted by Jughead10 View Post
      ING savings accounts are not compounding monthly. I have one. If you put 100 dollars a month in the account for a year. You might get 40 bucks back in interest. Which is better than the 5 you would get with a bank.
      Yeah it is dude.

      How do you calculate the interest on my account?
      Interest on your savings account is accrued daily, compounded monthly and credited to your available balance at the end of each month.


      Jballa...
      the only issue with that is you have to be set with emergency money. because once that money's locked up in a CD you're not touching it. which in some cases is good. but in some, not as good. it really depends on your frame of reference.

      i had most of my money tied up in cash or assets or my IRA. and my new years was to uh. fix it. because. i have a traditional IRA (because i'm ********) and am actually paying more than 4k a year to it... i thought it sounded like a good idea at first that it'd be tax deducatble. but. as always. i'm wrong! and of course... i have nothing insofar as 'stocks' either. awesome. so. starting this month, i've been talking about converting to a roth IRA. and i probably won't get ****** by the taxation of it either. apparently i should have like a 8000 dollar conversion capital gains tax bill just sitting for me at home one day in the near future. i don't like those. but, it's no worse than the AMT disaster three (er, 2005) years ago (*ducks/hides*)... and then socking away a good percentage of my non-retirement money into stocks. and be totally risky, and possibly lose a lot of money. but. hey. i have time to get it back... that's the point of this all eh?
      Last edited by awfullyquiet; 01-11-2008, 01:17 PM.
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