Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Who needs luck when you are getting over 3%. Smart people make smart choices.
I have ~10,000 in a CD getting 2.9% that I put in almost 5 years ago and I still regret it to this day. I put most of my investment money into the stock market at the same time but was feeling conservative with some of the money and put some into a money market and about $10000 into a CD.
The money I put into a .9% MM was a complete waste earning virtually nothing (and has since been invested). The $10,000 I put into the CD is worth barely over $11000 today (before taxes) and will mature this year.
That same $10,000, if I had put it into my Vanguard portfolio during that same time period would be worth over $32,000 At least I did put the majority of my investments (much, much more than that $10,000) into the stock market, but I still hate leaving over $20,000 on the table.
Anyway, my wife and I (both in our 20s currently) have both our cars paid for, student loans paid off, about 20% equity in our house, and already max our retirement accounts. We are both heavily considering getting more into real estate (we've helped some friends flip before but really want our own rental properties) so if I came across an additional $10,000 I would probably try and use it as a down-payment on a rental property.
For the majority of Americans, the best use would be to pay off the credit cards and then cut them up.
Interest rates on just about any sort of debt are higher than what you can earn with your money (without taking high risk). Pay off the debt, don't take on new debt, and then use the money that used to go into paying on the debt as investment money.
Ha, now that would be an easy-to-spot fraud. Jimi Hendrix was dead long before Compact Disks were invented.
That's what would make it so rare! He would have to sign it from beyyyoooond the grrraaave.
Quote:
Who needs luck when you are getting over 3%. Smart people make smart choices.
I agree, smart people make smart choices. Now you have to decide if you're a smart person or not...
3% doesn't touch the 10% -12% you can get with long term investments in a diversified index fund in an IRA/ Roth IRA acount. You are limiting your cash flow by investing into a CD or Bond or Savings account right now.
Quote:
For the majority of Americans, the best use would be to pay off the credit cards and then cut them up.
I feel like the majority of Americans could learn how to effectively use credit to earn income through FF Miles or Membership reward points/benefits. Pay of your credit every month, its easy if you have a sense of what you're spending..
Quote:
Buy gold
Uhhh... Why? Gold is probably not a good investment, especially if you like to make money.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
At least I did put the majority of my investments (much, much more than that $10,000) into the stock market, but I still hate leaving over $20,000 on the table.
He would have to sign it from beyyyoooond the grrraaave.
