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The banks are bragging about offering 1% on money market accounts, like it is a super deal. I suspect it would take a very clever investor to realize 7%. There aren't that many clever investors in the general population. There are also very few places to earn high interest, or rate of return either one, in any sort of hands-off investments.
Maybe the general public could do it if they wanted to study up, but it appears to me that they don't. So, I think that 7% is pretty unrealistic for the average person. In fact, hoping to receive 7% is probably setting some people up to get ripped off, because they can't tell the difference between a reasonably safe investment and Bernie Maddoff,
Adding: perhaps that 1% money market is a screaming good deal. My bank is currently paying .003% on savings accounts.
Me, for 1%, I'd just as soon put the money under my mattress. Save me the cost of the gasoline to drive back and forth to the bank.
My personal opinion: it is an excellent time to purchase real estate. Prices are low, fixed interest mortgages are extremely low, and we are staring directly into the face of some pretty serious inflation. When there is runaway inflation, wealth is a lot safer if it is in tangible assets.
A 7% return on investment right now is not keeping up with the loss in purchasing power due to inflation. The inflation which the government is still insisting isn't happening. I can only assume that none of those officials are doing any grocery shopping.
There are many bond mutual funds that up until very recently returned at least 7% interest - with the recent stock market run up, the bond prices have gone up lowering yields to around 5%.
Here is a specific example:
I have the Fidelity Capital and Income fund - FAGIX. $2,500 minimum investment, no commision for Fidelity account holders. Current yield 4.9%.
YTD: 13.22% return. 1 year return 18.03%.
A $2,500 investment in Jan 2009 would now be worth about $5,200
I'm still trying to figure out how a college student is going to manage to put away $1,000 per semester.
When I was in college, back when a state college education was still relatively inexpensive, I got one good meal a day at the restaurant where I worked a full shift at night, I ate oatmeal and ramen noodles the rest of the time, I lived in a cheap attic room, I never partied, I was always exhausted, I had some financial aid, and yet I never had two nickles to rub together.
Anyway, the biggest thing that has changed, as far as I can tell, since... errrmmm... later than that, is that a state college education is no longer cheap. I cannot believe the amount of debt kids are coming out of shcool with today!
i know its going to be hard, and the money will always be tight, i plan on renting a room, i have been looking on craigslist, and i can afford a room for rent, my plan is to pay for a few months, so i can look for a job without having to stress about rent for a few months. i know i will have other expenses also and EVERYTHING is more expensive. how is hawaii for commuting on a bike? i have a bike and a scooter here in florida, i will be selling my scooter when i move there,but i will be keeping my bike and plan to at least for awhile, use my bike as a main form of transportation.
how is hawaii for commuting on a bike? i have a bike and a scooter here in florida, i will be selling my scooter when i move there,but i will be keeping my bike and plan to at least for awhile, use my bike as a main form of transportation.
Hawaii and especially Oahu are very bike unfriendly with little or no bike paths, narrow streets, and lots of traffic.
Just the other day a woman was hit right outside my downtown residence - a Hawaii Pacific University student riding on the sidewalk (which is illegal in downtown Honolulu) riding against the 1-way traffic on Beretania - and no helmet like most Oahu bike riders - blood still caked on the road.
You'll need to take the bus to commute anywhere.
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