glock35ipsc wrote: I could redeem one of my CD's for cash in a matter of days. That pretty much defines "liquid".
Having something that is liquid has nothing to do with daily expenses, or even cashing in something to use for daily expenses. Again, the dictionary definition of liquid is "Readily convertible into cash."
I've been doing RE transaction in 7 days and doing so didn't generate any additional cost, or penalties CD usually do.
Quote:
Pulling out money from home equity is DEBT. It has to be paid back. Money in a CD is your money, it does not need to be paid back. Unless someone takes out a 401(k) loan (dumb!), and that will have to be paid back with interest.
Than if you put money in CD with designation for RV and pull them to pay off the gambling, isn't that making gambling debt on your RV account?
As I said, it is arguable. Everybody is entailed to his/her own logics.
Pessimist sees dark tunnel, optimist sees a light at the end, realist sees lights of coming train.Engineer sees 3 idiots on the tracks.
It is not 5 percent return it is 5 percent pay out and it is a bit more complex than I care to describe in an internet post.
it is also a modified annuity. I actually do not suggest it as an investment as the performance over all is not that good
But as an Annuity, once you get to the age where you can start drawing on it, it guarantees you will be paid 5% of the peak value of the fund (when looked at on the anniversary date of the fund). If due to the current stock market downturn, and/or you live longer than they expcet, the fund should run out of money the company will continue payment. If the fund should grow, so will payment, if you die and there is money left over your heirs get it.
If you are interested, and in S.E. Michigan. I can set up an appointment with a friend who sells the product. I do not, at this time, have that product to offer.
Nothin adds excitment like something that is none of your business John is Near Kenwood TS-2000 housed in a 2005 Damon Intruder 377
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?
It is far more than most ever have and if you saved that that is good.
But if you lost your job and had to eat off it and pay the rent and the rest, you better get looking for a job fast.
In Ca. it would last less time than in Ark. But than most in
Ca. have spend the pay check two months before it came anyway.
2005 Chev 5.3 Supercharged 395HP 425 T hp. Two wheels on front, 2 on back. one seat, tint windows. front and rear bumpers, headlights, windows. Door on each side. Heater, floor mats, junk behind seats, some dirt. Pulls so hard.
I've been doing RE transaction in 7 days and doing so didn't generate any additional cost, or penalties CD usually do.
Then you need to come out here and sell some houses. If you can sell em in 7 days, you will make a fortune out here! Penalties has nothing to do with liquidity, its all about cash being readily available.
Quote: Than if you put money in CD with designation for RV and pull them to pay off the gambling, isn't that making gambling debt on your RV account?
Nope. It was your money to begin with that was in the CD. I must have missed that part about the gambling.
Once again, lets look at actual definitions:
Debt 1. Something owed, such as money, goods, or services. 2.a. An obligation or liability to pay or render something to someone else. b. The condition of owing.
Debt must be paid back. You can, of course, pay yourself back if you want by opening another CD. However, you are under no obligation to do so.
Again, we all have different principals. If I take the money from my children college funds to pay off the gambling, I WOULD feel obligation to pay it back.
Kajtek1 wrote: Again, we all have different principals. If I take the money from my children college funds to pay off the gambling, I WOULD feel obligation to pay it back.
I would too. Then again, I would also feel obligated to seek professional help for my gambling problem.
And I'm not even sure how the discussion on what liquidity of an asset means has to do with a gambling problem......
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?
It is far more than most ever have and if you saved that that is good.
But if you lost your job and had to eat off it and pay the rent and the rest, you better get looking for a job fast.
In Ca. it would last less time than in Ark. But than most in
Ca. have spend the pay check two months before it came anyway.
have a monthly pension to live on with paid med. and perscrips, house is paid off as well as rv. no bills other than monthly electric,cable and house taxes and of course cell phone. just looking for maybe a safe investment for the future with the way inflation is going. only 55 and hopefully a few more years ahead of me.
Life is not a journey to the grave with the intention of arriving safely in
a pretty and well preserved body, but rather to skid in broadside,
thoroughly used up, totally worn out, loudly proclaiming---WOW WHAT A
RIDE!!!
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