Financial Investments

[radon55]

Originally Posted by Nevermore

Oh... This might be a useful resurrection. As far as my retirement investing, I think I'm pretty solid: max 401k contribution with employee match, yearly IRA contributions, and a solid emergency fund.

My only other monetary focus is my car fund, which has been gaining steam a lot this year thanks to getting turned into a contractor at work. They paid me severance AND a signing bonus to keep the same job with the same pay. I killed my student loans with it and banked what was left.

I'm looking into dropping those funds into one of those online savings accounts, the ones with 2-3% returns. All my research says they are safe, but the guaranteed returns remain suspicious. Anyone know if these things are a good idea?

Nice job on the contractor move.

3 months ago I opened one of the online savings accounts with a 2.1% rate. So far no issues, but it's still early days. I've started to funnel most of my money into this savings account and out of my old 0.01% rate savings. I know they can change the rate at any time, but until then I'll try and take advantage.

[Nevermore]

Originally Posted by radon55

Nice job on the contractor move.

3 months ago I opened one of the online savings accounts with a 2.1% rate. So far no issues, but it's still early days. I've started to funnel most of my money into this savings account and out of my old 0.01% rate savings. I know they can change the rate at any time, but until then I'll try and take advantage.

Thanks!

Glad to hear it's been working so far. I need to get this money in there soon if I'm going to do it because I'm just wasting its potential letting it sit in a plain old bank.

[Swift]

Nevermore,



Once you went contractor...You doing obamacare? Health insurance is a concern in any employment

[ZionsWrath]

The secret to financial success is income production not asset appreciation. If you understand this your perspective will change. But easier said than done.

[soundman98]

Originally Posted by korhun

A guy working in Subaru service told me that "Your car will gain value in time. It will be a classic just like Honda S2000." So buy as many twins as you can

True story, knew a guy that fell for that with the mustang redesign in early 2000. He bought a metallic puke green v6 auto version expecting the value to go up. It's now worth pocket change.

[DandoX]

I just made a great financial investment, I bought a shop fan to replace an indoor fan I was using in my garage. Wise choice! now I can work on the car with out dying from the heat and effectively push fumes out of the garage.

If you have sub par ventilation or cooling in your garage then this would be a wise financial investment in getting fumes and heat out of your shop space. I got it a few days ago and it rocks: https://www.homedepot.com/p/Commerci...500B/302845111

[Lantanafrs2]

I'm trying to cash out a couple of inherited annuities before we get another China tweet

[Tcoat]

Originally Posted by Mereteran

Interestingly, thanks a lot for making some points clear.

[Atmo]

Originally Posted by ZionsWrath

The secret to financial success is income production not asset appreciation. If you understand this your perspective will change. But easier said than done.

Depends on many variables including life stage, tax considerations, long/short term investment objectives, allocation of resources, access to research, and the stomach to accept and manage risk.

Over a few decades of investment experience, my biggest after tax net gains have come from asset appreciation. I've changed to passive income now that the nest egg has been scrambled into something resembling a nest.

Overall, I've made the most by sticking to plan, ignoring tv/radio news, avoiding social media "experts" and studying diverse markets for opportunities.

[why?]

Originally Posted by soundman98

True story, knew a guy that fell for that with the mustang redesign in early 2000. He bought a metallic puke green v6 auto version expecting the value to go up. It's now worth pocket change.

and if he keeps it in pristine condition in 100 years he might be able to sell it for the storage fees.

[86MLR]

I just drank my liquid assets

[Tcoat]

Originally Posted by 86MLR

I just drank my liquid assets

Keep that up and you will be pissing away your fortune.

[p1l0t]

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