what investments are there nowadays that are guaranteed safe that are that much more that a safe savings? would hate to be worrying everyday and watching the stock market to see how much you lost or gained today.
A very rough rule of thumb when I was in the Investment business is that your age should equal the percentage of safe investments. So at 60, 60% of your investments should be in safe investments like CDs, savings accounts or Money Market mutual funds.
Another saying was that of the three main features of an investment:
Safety, liquidity, yield; pick any TWO.
It always cracks me up when I see statements on previous threads like, "I have a really good advisor, we are in very secure investments that yield 30%" !!
100,000 translates into 10,000 (or there abouts) in tappable cash if you properly invest it.
1,000,000 is a much nicer "Cushion" for retirement
NOTE: investments can return from a very low (say 1% to, in some cases 15-25 percent. I am taught to use 10% as an example of a fairly safe investment level.
I can get 5 percent guaranteed if you wish (or point you to someone who can)
(I actually own stock in that company.. Get about 10 bucks a year in dividends )
I'm not recommending them. as I feel you can do better.. But I mention them because.. Well,there's that 10 bucks a year don't you know
Nothin adds excitment like something that is none of your business John is Near Kenwood TS-2000 housed in a 2005 Damon Intruder 377
The interest rate that banks give you on a savings account is so piddly it's like not earning anything at all. You're better off in a CD or money market account with your local credit union. Better yet is to invest it in an IRA where you can choose from a wide variety of investments including stocks, bonds and mutual funds of varying degrees of risk and return, to accomplish different goals. Most major insurance companies have very comprehensive IRA programs. The other benefit is the money is non-taxable. Tax is a huge cut of any money you make. If you can shelter any part of your extra income from tax, you will be much better off than paying the tax and putting it in a savings account.
wa8yxm wrote: 100,000 translates into 10,000 (or there abouts) in tappable cash if you properly invest it.
1,000,000 is a much nicer "Cushion" for retirement
NOTE: investments can return from a very low (say 1% to, in some cases 15-25 percent. I am taught to use 10% as an example of a fairly safe investment level.
I can get 5 percent guaranteed if you wish (or point you to someone who can)
(I actually own stock in that company.. Get about 10 bucks a year in dividends )
I'm not recommending them. as I feel you can do better.. But I mention them because.. Well,there's that 10 bucks a year don't you know
LOL, sure 5 million would even be nicer but lets be realistic, how many average americans with a average pay say 50 to 100 thou a yearand average family and mortgage could ever save that unless you get a good inheritance from someone or hit the lottery.
wa8yxm wrote: 100,000 translates into 10,000 (or there abouts) in tappable cash if you properly invest it.
1,000,000 is a much nicer "Cushion" for retirement
NOTE: investments can return from a very low (say 1% to, in some cases 15-25 percent. I am taught to use 10% as an example of a fairly safe investment level.
I can get 5 percent guaranteed if you wish (or point you to someone who can)
(I actually own stock in that company.. Get about 10 bucks a year in dividends )
I'm not recommending them. as I feel you can do better.. But I mention them because.. Well,there's that 10 bucks a year don't you know
LOL, sure 5 million would even be nicer but lets be realistic, how many average americans with a average pay say 50 to 100 thou a year and average family and mortgage could ever save that unless you get a good inheritance from someone or hit the lottery.
More than I have... Unless you figure in my IRA type funds... I do have some toys paid for that I could sell and property worth a decent penny..
100k in savings is more than most people have in avaible cash, I bet..
tonkatoys wrote: nowadays, having a 100 thousand in a savings acct. is this considered a fairly good savings to most or is it on the low end of most peoples savings?
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tonkatoys wrote: nowadays, having a 100 thousand in a savings acct. is this considered a fairly good savings to most or is it on the low end of most peoples savings?
$100,000?? Most people don't even have $5,000 in all their savings. Liquid cash, CDs, stocks, bonds totaling anywhere from $500,000 ~ $1,000,000 and up, is a good place to be. How you get there is anybody's guess. However, $5,000 in savings is a good first step to getting there.
coolbreeze01 wrote: I see nothing wrong with money in the bank. Good feeling. There are investment folks that can and will help you with your financial planning, until you are broke
I second this one! Except they are not "investment folks", they are "salesmen".
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