The Investment Thread (help with savings, stocks, retirement funds, etc.)
Inspired by the credit thread, I figured we could pool our knowledge and advice about investment products here.
Personally, I'd like to know the best way to go about a savings account. I'm not talking about low yield run of the mill savings accounts. Where can I store money for roughly a 3% guaranteed return in about 5-10 years without an early withdrawal penalty? Essentially saving for larger purchases such as housing down payments, beds, cars, etc. |
Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)
If you can find 3% savings guaranteed, please let me know
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Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)
muni bonds!
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Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)
Buy an annuity!
edit: oh, hey adam. weird seeing you here. |
Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)
I think I read somewhere that like - 70% of Americans are living pay check to pay check. That gives me hope and makes me feel better about the money I am saving, but I still know Im not doing enough. Basically Im putting 3% of my paycheck into a 401k, I do have a mutual fund my dad set up for me years and years ago, and I have a bit of a "rainy day fund" too. I wish I was doing better tho.
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Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)
You do realize that mutual fund is a very broad term?
It's like saying I'm going to buy a car. Check out KLGIX, it's managed by an ant. |
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I wish I could give you more detail on it, but I dont pay a ton of attention to it. I couldnt really give you numbers or percentages. I just know it took a hit with the economy crash, but is slowly bouncing back. |
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Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)
The best savings tool I have is my ESPP. Every six months, we get to purchase company stock at a 15% discount of the stock price of the first day or last day of the period, whichever is low. I put 10% of my post-tax pay into that. When I sell right away it nets me a minimum of a 115% return. I sold the stock from the first half of 2013 earlier today at a 165% return. Not bad for less than seven months.
After selling, I usually split the money between a Roth, mutual funds and student loans. The next year and a half will include wedding fund though. |
Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)
Be sure that you have 20% down and $50k liquid cash or else you can't afford it.
Er.... sorry, wrong thread. |
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i think you mean minimum 15% return...not 115% return.. |
Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)
ESPP plans are not as good as advertised... usually.
The 15% discount is taxed as ordinary income and the purchase date for employees usually coincides with the equity bonus dates for the exectuives which often seems to go with a bump in the stock price. |
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And yeah, 15% return. When I sell it's at 115% what I paid. Quote:
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Not just any car. It's John Voight's car. |
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Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)
everybody's talking at me...i can't hear a word they're saying
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Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)
Basically by that logic if I buy a stock for $50 and sell it for $50 I've made 100%
woooooo!! drinks on me tonight! |
Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)
my wife and i just each opened up IRA's about 4 months ago. only putting in $125/month each right now, but its a start. Im almost 30 and she's 27, I wish we did this 5 years ago
7% of my paycheck goes toward PSERs and my company matched it 2 yrs ago, it went to 12% last year and this year the contribution is 16% :thumbsup |
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Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)
with an initial $1500 to open the account and an 8% return rate, over 20 years, it comes out to about $100k each. I'll be 50 then, I don't plan on using it til 65 or so. I didn't calculate it out that far but I assume it'll probably be well over $300k each, which should (hopefully) be plenty to go along with our pensions
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Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)
i think they were just busting on you for the 115% remark. that aside, it sounds like you have a pretty good deal going. is there a limit to how much you can purchase? If not you should start throw fat stacks at it
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