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Lets say I gave my car to my buddy to drive. He is not a driver under my policy and had an accident.
Does insurance company pay my claim?... |
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| I have a friend who just quite smoking and he wants to know how long he should wait before he goes to get life insurance (to get the physical exam). He would like to wait until there is no more (... |
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| I wrecked my 2006 Kawasaki Ninja 636 ZX6R and was wondering if I bought insurance for it would the insurance company help repair the bike.... |
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| I am married at age 20 and husband is same age. I want to get a life insurance policy because we are expecting a little girl in April. With funeral costs, possible public 4 college (for her and maybe ... |
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| I got injured at work,so they sended me home for 1 week, now they want to pay me that week and take one of the 2 weeks vacation that I get at year. I use my 2 weeks of vacation to go to my country ... |
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 Looking to get auto insurance... should i get life insurance ? |
My brother told me to check out http://quck-insurance-qu
is this a good site to shop around for auto insurance and life insurance, I drive fast and don't want my girlfriend to ... |
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Additional Details
We are talking just a couple of thousand (pounds) here, nothing major; maybe just enough to cover funeral ... |
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| I have never had an abnormal gynological test (I have been happily married 15 years) which means that I only need a pap test every 3 or so years now. I just received a letter from Medical Mutual ... |
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| Before my husband and I purchased a home, he had a basic whole life policy. Now that we are homeowners, we need more coverage, so we are adding a term life policy that is probably six times larger ... |
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Additional Details
NYS....When i mention it to other brokers they say it is not necessary and are surprised that they are requesting it. I don't see the reasoning behind it other ... |
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| in regards to life insurance?... |
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 Mortgage company unreasonable about homeowners insurance requirements.? |
I own a condo, and I asked my mortgage company how much condo insurance I am required to hold as a provision of my mortgage.
They stated that I must have enough to pay off the mortgage ... |
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| I want to purchase a house but I don't want my credit being touched while looking for insurance for my vehicle. Will an insurance company touch my credit?... |
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| I have had my credit card # stolen in the past and have never had a problem with having the charges forgiven. This is $40 extra a year on my premium. Does anyone see any meaningful value with ... |
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David W | Are bank cds good I am receiving 5.25 percent? |
I am so nervous to invest in stocks and mutual funds and cds at 5.25 seem pretty decent investment since you cant lose the money. What do you think??? |
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deep5223
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If you are afraid of investing in the market, where you can lose as well as gain, a 5.25% guaranteed return is not bad. Everyone's risk tolerance is different, that's why there are many ways of investing. If you are comfortable where you are, stay there. |
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some advice
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It depends on the purpose of the money. If you are using the CD as a buffer against emergencies arising that would cut into your income, then having a small CD is a good thing. If you are planning on using CD's to fund your retirement, then you have not a.) researched the long-term tax implications of this strategy b.) spoken with someone knowledgeable about investing and and/or putting tax-deferral to work for you.
First, lets talk taxation:
That 5.25% sounds like a pretty good number. Lets keep the math simple and assume that you have a the maximum FDIC Insured $100,000 in a CD. This year, you make $5,250 on your investment. Lets futher assume that you are in the 28% Federal income tax bracket. Your 5.25% gain is taxed as ordinary income, you pay $1470 to Uncle Sam. State tax, lets assume 8% and pay Sam Jr $420. Combined, you have paid $1890 in taxes for the year. Subtract $1890 from $5250 and you have a gain net of taxes of $3360 or 3.36% Now how does that investment look? It hardly keeps pace with historic inflation rates!
Now, lets talk tax-deferral, I'm sure you have heard of it!
The next time your CD matures, you take it out and put it into a tax-sheltered annuity. Keep in mind, the annuity is no longer insured by the FDIC, but by the financial strength of the insurance carrier you purchased it from. If you are terrified of market fluctuations, you can get 4% guaranteed in many annuities. The point is, the money grows, you pay no taxes until withdrawls. If you pay taxes on the withdrawls, aren't you paying anyways? Yes, but you have put compounding to work for you. The money you would have had to set aside to pay taxes each year for the CD can now earn its own interest in a tax-sheltered annuity!
To summarize: Retirement funding=tax-deferral |
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President, www.HSAInside.com
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Any good portfolio is mixed, I have real estate holdings, stocks, mutual funds and just rolled over my CDs to Merrill Lynch they offered me 5.67% and since they own several banks they don't have a 100,000. max that others have. The reason most folks have CD's is because they are insured by the federal gov. FDIC up to 100k per person, some banks can be insured up to 10million per person. |
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Courtney
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CDs are great, You don't have to worry about losing money and saving accounts' rates are lower than cd interest rates. The only downfall is that you will have your money tied up and you can't get it out until the cd is over. |
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Alfretz T
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As you are "so nervous to invest in stocks and mutual funds", my advice to you is to stay the course as you seem to be quite happy and thus satisfied with the "5.25 seem pretty decent" returns on your "investment since you cant lose the money" unless you are able to withstand the ups and downs of investing in stocks and mutual funds with which you could make much more, but you could also suffer losses if you get it wrong! |
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dufus61603
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You can do better in stocks if you do your research right. I'm doing it. |
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floozy_niki
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Well, if I can also get 5.25% I would stay put. |
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?
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A CD paying 5.25% is a very good rate. But a money market mutual fund is good also if you go to the big fund managers like Vanguard you should do OK with very little risk but they are only paying about 5.10% so you are good with that CD the only problem with a CD is if you need the cash you will pay a penalty for early withdrawal, with a money market fund you get a check book with it and you can cash a check for $250 any time you need to free of charge.If int erst rates go up you are locked in to your rate with a CD but with the money market fund you get the higher rates as they go up. |
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pcreamer2000
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If you are diversified (multiple type of investmetns) a cd or annuity is ok... but 5.25% is low.
I do a lot of funds that get me 8-25% all the time.
But when I finally broke the $200k I diversifeid like crazy. |
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