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Im saving around $600 a month...? |
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What do I need to know before entering forex trading? |
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How best could an individual market speculator [w/ liquidity] take advantage of the current financial crisis? |
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My mom is going to invest 800,000k in mutual funds. Are these fees too high? |
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What is a good way to come up with 2000 dollars within a month without saving from my wages ie stock market? |
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If I invest $5,400usd this year in your average mutual fund, how much money will I have in 20 years? |
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If i buy a stock and the price drops and the company gets bought out at a price less than i paid, am i stuck? |
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What should i invest 300 dollers in? |
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apt s | Savings acct vs certificate deposit? |
looking into opening a cd that has the current rate of 2.62%. my current savings acct rate is 3.25. On this situation why would someone open up a cd acct? is cd a better choice for the time being. please advise. |
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trackstar2683
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No, a CD is less liquid, meaning you cannot deposit and withdraw money at will. And you also get a lower interest rate.
There is 100% no reason to get a CD these days. The only reason it could be attractive is if the interest rate on it is higher. |
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Bre
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I don't know where your getting a savings account rate of 3.25, but I want in to it!
I work at a bank, & from my standpoint, keep your money in your savings account. With a CD, you have to deposit the money, & keep it in there for the amount of time you choose to. This way, with having it in your savings account, you have full access to it without early withdrawl penalties. |
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Scoobeeyore
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Forget the CD. It isn't often that you find a savings account that has a better return than CDs and Money Market accounts. Why tie up your money in a CD when you could get a better return from your savings account and your money would be all tied up if you needed it in an emergency. It's all just a way for the bank to borrow your money. In essence, your savings account or the CD is just a way for you to give the bank a loan. They pay you a minimal return on it, then turn around and loan it out getting a greater return. That's how they make a profit. The CD just garantees that the bank will have use of your money for a set period of time. In this particular situation, it is definitely better for you to just keep your money in savings. Then you get more money form the bank in the form of returns. If you got the CD, all you'd be doing is letting them pay you less for the use of your money. |
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Jay B
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keep your savings account with the better rate, i wouldnt open a Cd if the rate was lower. |
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zaphodsclone
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go to bankrate.com and compare contrast the best rates on cds and MMA's
I wouldn't lock myself into a cd that has less of a return than my savings account. |
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RM
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Doesn't look like a good idea... unless you expect your savings rate to be decreased if the Fed cuts rates again. |
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tinahdez@sbcglobal.net
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The best choice is anything that pays more interest. My sister and I just put together a portfolio of good stocks that pay an average 9%. Whatever your risk tolerance is, I like the most you can get. Look at WWE and its dividend. |
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Beck
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Look for a CD with a higher rate. The point of a CD is locking in a rate for a specified period of time. Typically, CD's offer higher yields that savings accounts because your money is "locked in" and the bank can use it as they please. The bank benefits because they can count on your money. There is no point to opening a CD if the return is less than your savings account. Why would you want to lock your money it at a lower rate, and then not have the flexibility of withdrawing it if you needed to. |
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