Comments on: Should I move my money from my savings account? http://www.secretfinance.com/blog/should-i-move-my-money-from-my-savings-account/ Thu, 17 May 2012 21:00:46 +0000 http://wordpress.org/?v=2.7 hourly 1 By: patternsboutique http://www.secretfinance.com/blog/should-i-move-my-money-from-my-savings-account/comment-page-1/#comment-1736 patternsboutique Sat, 28 Mar 2009 19:10:42 +0000 http://www.secretfinance.com/blog/should-i-move-my-money-from-my-savings-account/#comment-1736 The question is of a rhetorical kind. If only the one knows the correct answer :-) Your choice will depend on the level of risk you are ready to take. My personal opinion although is that 5 years is not long enough for mutual fund unless you take a low risk package managed by bank. Such a package may not bring you more then your saving account though. And as for 4%, keep in mind that inflation is around 2% and remaining 2.25% will bring you $405 - ~25% tax = $300. By keeping money on saving account you simply protect them from devaluation. The question is of a rhetorical kind. If only the one knows the correct answer :-) Your choice will depend on the level of risk you are ready to take.
My personal opinion although is that 5 years is not long enough for mutual fund unless you take a low risk package managed by bank. Such a package may not bring you more then your saving account though.
And as for 4%, keep in mind that inflation is around 2% and remaining 2.25% will bring you $405 - ~25% tax = $300. By keeping money on saving account you simply protect them from devaluation.

]]> By: mister ed http://www.secretfinance.com/blog/should-i-move-my-money-from-my-savings-account/comment-page-1/#comment-1735 mister ed Thu, 26 Mar 2009 12:30:48 +0000 http://www.secretfinance.com/blog/should-i-move-my-money-from-my-savings-account/#comment-1735 i would advise you to ladder it in to cd"s with expire dates of 12, 18, 24, 26, and 32 months that way should the need arise you will have a hunk of money coming in every 6 months and when they do come due if you do not need the money roll it over and if possible add to the investment!!! i would advise you to ladder it in to cd”s with expire dates of 12, 18, 24, 26, and 32 months that way should the need arise you will have a hunk of money coming in every 6 months and when they do come due if you do not need the money roll it over and if possible add to the investment!!!

]]> By: sporregar http://www.secretfinance.com/blog/should-i-move-my-money-from-my-savings-account/comment-page-1/#comment-1734 sporregar Thu, 26 Mar 2009 07:58:56 +0000 http://www.secretfinance.com/blog/should-i-move-my-money-from-my-savings-account/#comment-1734 You could put it into CDs in chunks if the rates are higher than your savings account. Find a savings/money market account that pays better interest. I know ING Direct is paying @5% right now. If you don't mind risk and tax consequences than invest in low cost mutual funds, index funds or stocks. You could put it into CDs in chunks if the rates are higher than your savings account.

Find a savings/money market account that pays better interest. I know ING Direct is paying @5% right now.

If you don’t mind risk and tax consequences than invest in low cost mutual funds, index funds or stocks.

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