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Old 05-05-2019, 10:38 PM
 
54 posts, read 25,467 times
Reputation: 49

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I think we have $1.00-$1.50 and that is because opening a savings acct was required when we opened the checking at our local credit union. Not many have savings accounts anymore with IRA's, HSA's, 401k's, etc...
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Old 05-06-2019, 10:20 AM
 
Location: Forests of Maine
31,972 posts, read 52,111,583 times
Reputation: 21383
Quote:
Originally Posted by Z68359 View Post
How much Money do you have in your savings account? and whats your age?
I do not keep much in a bank, out of habit.

We have a couple CCs, in case of minor emergencies, and a stash of silver coins.

I retired on pension when I was 42. I have been retired for 18 years. I am now 60.
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Old 05-06-2019, 08:45 PM
 
Location: Scottsdale, AZ
10,159 posts, read 6,571,540 times
Reputation: 37480
"Savings accounts" are a quaint anachronism.
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Old 05-09-2019, 02:36 PM
 
Location: Wonderland
54,268 posts, read 42,592,025 times
Reputation: 75475
I have $100 in a savings account. I have the rest of my money and assets elsewhere. What's the point of the question anyway?
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Old 05-09-2019, 04:30 PM
 
82,559 posts, read 80,174,543 times
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No point "..... I think it is just someone with little understanding of personal finance
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Old 05-09-2019, 04:51 PM
 
Location: Henderson, NV
6,701 posts, read 6,850,962 times
Reputation: 8943
Agreed, I don’t have any savings accounts. What a pointless account. I have two personal checking accounts, one is basically where investment income gets dumped / distributed, the other is the actual daily living personal checking, then I have my business checking account. I typically keep $20K minimum in business checking because that’s the amount we’ve established works as a buffer against a few down months, then I’ll usually just let that account grow until January 1, distribute any dollars over $20K to myself, and repeat process.

In a perfect world I’d like to keep I guess around $500K in some form of liquid or easily accessible form, stocks or cash, or maybe even money market accounts because I need to have a fairly stable amount of cash easily accessible. The rest is hard assets and paper net worth. I’ve usually had less than $100K cash on hand which isn’t ideal at all for me, but it’s just been more aggressively invested.
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Old 05-09-2019, 05:02 PM
 
6,819 posts, read 2,050,371 times
Reputation: 11736
Quote:
Originally Posted by Z68359 View Post
How much Money do you have in your savings account? and whats your age?
Not a penny. I haven't had a savings account since 1974.
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Old 05-13-2019, 11:05 AM
 
Location: Lower East Side, NYC
2,719 posts, read 1,812,690 times
Reputation: 2105
$5 to keep my checking account open at my credit union that gives me a nice 3%, though it seems better rates are coming around finally and I may be looking to switch. 27
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Old 05-15-2019, 08:28 PM
 
Location: Silicon Valley
5,246 posts, read 2,335,966 times
Reputation: 8435
I opened a savings account for my kid when she was younger. She couldn't have a checking account, but they'd let her open a savings account and gave her $1500. I was hoping to show her in very easy terms how money can make money, and how to reconcile her account each month.

Too bad the kid accounts pay nothing like the adult ones do. Then they stopped sending paper statements. I think I'll go close it on Saturday and try again with Fidelity.
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Old 05-16-2019, 01:05 PM
 
Location: east TN
265 posts, read 110,593 times
Reputation: 1037
Quote:
Originally Posted by Javawood View Post
$5 to keep my checking account open at my credit union that gives me a nice 3%, though it seems better rates are coming around finally and I may be looking to switch. 27

What credit union pays 3% on a checking account ? You sure you don't mean 0.3% ?
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