U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 04-28-2015, 09:25 AM
 
Location: RVA
2,164 posts, read 1,264,598 times
Reputation: 4451

Advertisements

American Express has online savings account, currently at 0.9%. Linked to my credit union, I keep the bulk of my emergency funds there, and just my monthly money goes in and out of the CU.
Reply With Quote Quick reply to this message

 
Old 04-28-2015, 10:19 AM
 
Location: Jollyville, TX
3,850 posts, read 9,437,792 times
Reputation: 4392
Quote:
Originally Posted by Perryinva View Post
American Express has online savings account, currently at 0.9%. Linked to my credit union, I keep the bulk of my emergency funds there, and just my monthly money goes in and out of the CU.
Thanks for reminding me about this. I had received several offers in the mail about their high yield savings account product. I'm opening one today!
Reply With Quote Quick reply to this message
 
Old 04-28-2015, 01:03 PM
 
Location: Pennsylvania
12,462 posts, read 4,213,163 times
Reputation: 9772
GET.RID.OF.YOUR.MORTGAGE

I don't care what % you are paying in interest. Do you really want to keep dealing with the bank and seeing that statement come in month after month?

I'm 45 and said good bye to a mortgage last year. Call it being too conservative -- call it not using leverage, call it what you will. It just feels darn good not to have to deal with the bank for the rest of my life!
Reply With Quote Quick reply to this message
 
Old 04-28-2015, 01:09 PM
 
Location: Pennsylvania
12,462 posts, read 4,213,163 times
Reputation: 9772
Quote:
Originally Posted by otterhere View Post
I'm looking for a two-year investment only... Looks like 1.35 is the best out there currently. This is pretty much what I signed onto the thread looking for, but hadn't considered; thanks!

You should be able to do much better than 1.35%. No reason you can't make 5% per year in the high yield bond market, taking on a little bit of risk and paying attention to your investments. Making occasional trades, etc. High yield bonds are benefiting from the same fed policy as are stocks. As long as the fed keeps interest rates where they are, bonds of decent companies will hold up in value.

Check out bonds from companies like
Frontier
Windstream
PPL Energy Plus

These are the only 3 I can think of off the top of my head, but there are many others.

All are good bets to remain in business and paying bond interest for a long time.
Reply With Quote Quick reply to this message
 
Old 04-28-2015, 06:37 PM
 
6,220 posts, read 4,718,283 times
Reputation: 12740
Quote:
Originally Posted by BeerGeek40 View Post
GET.RID.OF.YOUR.MORTGAGE

I don't care what % you are paying in interest. Do you really want to keep dealing with the bank and seeing that statement come in month after month?

I'm 45 and said good bye to a mortgage last year. Call it being too conservative -- call it not using leverage, call it what you will. It just feels darn good not to have to deal with the bank for the rest of my life!
I deal with my bank many times a month...through the internet. I track my expenses and pay my bills online.

When it comes to a mortgage, I never see a monthly statement. The mortgage is paid automatically from my bank account and sent to a different bank that holds the mortgage.

Again the argument for paying off a mortgage seems to come down to how it "feels." As I said previously, when I reached the age of about 12, I started to depend more on understanding and logic than raw emotion and feelings.
Reply With Quote Quick reply to this message
 
Old 04-29-2015, 04:11 AM
 
Location: Pennsylvania
12,462 posts, read 4,213,163 times
Reputation: 9772
Quote:
Originally Posted by jrkliny View Post
I deal with my bank many times a month...through the internet. I track my expenses and pay my bills online.

When it comes to a mortgage, I never see a monthly statement. The mortgage is paid automatically from my bank account and sent to a different bank that holds the mortgage.

Again the argument for paying off a mortgage seems to come down to how it "feels." As I said previously, when I reached the age of about 12, I started to depend more on understanding and logic than raw emotion and feelings.
Not sure what your point is, but I deal in logic more than most on this planet.
I don't pay my bills on line as I don't trust the banks or the systems to be free of hackers. I pay with old fashioned check. Just wait until one day if the bank takes out 10X what it's supposed to, to pay one of your bills. Or makes some other mistake.
Perhaps you are not quite as smart as you think.
Reply With Quote Quick reply to this message
 
Old 04-29-2015, 04:18 AM
 
71,489 posts, read 71,652,652 times
Reputation: 49069
like they can't duplicate your check ?

we had it happen at work.

been bill paying and banking on line for more than a decade with never an issue.

i would worry more about crossing the street if i needed to worry about something.
Reply With Quote Quick reply to this message
 
Old 04-29-2015, 07:14 AM
 
6,220 posts, read 4,718,283 times
Reputation: 12740
With a lifetime of banking, I only encountered one error. In the old days the bank incorrectly entered the amount of a check. Electronic banking is way more reliable since human error is not involved. If the bank gets hacked all of the records would be exposed even those that involved manual transactions. I still fail to see how your logic connects this with avoiding a mortgage. In addition to a mortgage, we all have numerous payments that cannot be avoided or cannot be done with cash: utilities, taxes, insurance, etc.

BeerGeek, I did not mean to single you out. But many other people would also pay off a low cost mortgage, not because it makes financial sense, but because it would make them "feel" good.
Reply With Quote Quick reply to this message
 
Old 04-29-2015, 08:39 AM
 
29,772 posts, read 34,851,819 times
Reputation: 11681
Quote:
Originally Posted by jrkliny View Post
I deal with my bank many times a month...through the internet. I track my expenses and pay my bills online.

When it comes to a mortgage, I never see a monthly statement. The mortgage is paid automatically from my bank account and sent to a different bank that holds the mortgage.

Again the argument for paying off a mortgage seems to come down to how it "feels." As I said previously, when I reached the age of about 12, I started to depend more on understanding and logic than raw emotion and feelings.
Bada Bing!
Reply With Quote Quick reply to this message
 
Old 04-29-2015, 08:56 AM
 
Location: Great State of Texas
86,093 posts, read 72,469,891 times
Reputation: 27565
Quote:
Originally Posted by jrkliny View Post
I deal with my bank many times a month...through the internet. I track my expenses and pay my bills online.

When it comes to a mortgage, I never see a monthly statement. The mortgage is paid automatically from my bank account and sent to a different bank that holds the mortgage.

Again the argument for paying off a mortgage seems to come down to how it "feels." As I said previously, when I reached the age of about 12, I started to depend more on understanding and logic than raw emotion and feelings.
I'm just the opposite. I use my CC the entire month, including bill paying and then just write one check a month to the bank for the CC payment.

My CC statement is categorized so I can see my budget broken down.
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top