Investment Ideas?
07-10-2007, 12:11 AM
#43
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Join Date: Feb 2003
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Re: Investment Ideas?
Originally Posted by QikEnuF
Rather have a million invest in something like a CD for my future family, than just have it where I could spend it.
I was talking to my wife today about putting 10k into a 5% cd. With the guarantee of $500 a year, it's not worth it. I can buy and sell just about any car and make $500 a month pretty easily, so why lock up 10k into something I can't touch?
07-10-2007, 12:18 AM
#44
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Join Date: Mar 2003
Posts: 21,479
Re: Investment Ideas?
Originally Posted by Stealthmode
It's not about the million, it's just about compounding money. I don't care what the amount is. A million in a CD might be worth it, but by that time there's probably better oppurtunities out there.
I was talking to my wife today about putting 10k into a 5% cd. With the guarantee of $500 a year, it's not worth it. I can buy and sell just about any car and make $500 a month pretty easily, so why lock up 10k into something I can't touch?
I was talking to my wife today about putting 10k into a 5% cd. With the guarantee of $500 a year, it's not worth it. I can buy and sell just about any car and make $500 a month pretty easily, so why lock up 10k into something I can't touch?
I've thought about that same exact thing. Doesn't really make sense to tie up that much(Yeah, it's not alot of money, but for broke ------ it is)for such a long period of time to receive so little when you could turn that $10k into $10500 in a way shorter period of time. Plus you have to pay fees when you cash it out and taxes on your profit.
So pretty much you end up with dick by the time your CD matures and you collect the money. __________________
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07-10-2007, 01:51 AM
#47
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Join Date: Jun 2006
Posts: 3,256
Re: Investment Ideas?
I checked out https://www.schwab.com/ ,it looks pretty good for the few minutes I was reading.
07-10-2007, 02:19 AM
#49
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Join Date: Mar 2005
Posts: 263
Re: Investment Ideas?
I just made my first investment. 1000 into a CD. It's a 6 month term that compouds quarterly at 4.6ish % interest. It'll make almost 100 bucks in the 6 months of me not doing anything. Not really a lot of money, but it's a start. I'll be looking into a little of this stuff soon.
07-10-2007, 02:22 AM
#50
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Join Date: Dec 2003
Posts: 0
Re: Investment Ideas?
^ Funny thing about CD's, look at interest rates, sometimes they're more or less depending on, well, I'm not sure what the hell it depends on. But at my bank, I remember a 4 month CD yielded more interest than a 12 month, it was a difference of like 3 to 5. Only thing with those is waiting...
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