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Country Discussion Topics
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Savings.....simple, easy plan?
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WallSal55    Posted 04-12-2002 at 19:03:49       [Reply]  [Send Email]
Hearing Jean Chatsky say that you cannot
take your piggy bank to the bank and put it in an
ordinary savings account, because it will not
just grow and grow there! What are we to do?
To me, the best route looks like I-bonds are the
best way to save. We did manage to get a 6 mo.
CD with a great rate, but the next 6 mo. rate
went way down. Are you supposed to move your
CD money around every 6 months for the best rate?
Sounds like a hassle, and I prefer simple. Or am
I missing something?


Ludwig    Posted 04-15-2002 at 07:24:01       [Reply]  [No Email]
The others are right, I've been reading alot
about this myself, trying to save up for a
house, and it seems to me the only real way
to make money is with hard work.
The only real way to make my money make
money is to invest in money market accounts,
mutual funds, index funds, or stocks in
companies I know something about.
I-bonds are a nice idea, and yes they'll beat
inflation which is real nice, but they can't even
approach the money you can make in the
stock market. Granted they're a bunch safer,
but the problem is balancing risk with return.

That all said I've got a pretty big hunk of
change in the bank right now just resting in a
bank account. This is money we got when we
got married and I plan to roll it into I-bonds or
cds pretty soon. The idea being I need this
money in a place I can get it back out of in a
pinch if something comes up.


Mark Hendershot    Posted 04-15-2002 at 08:46:33       [Reply]  [No Email]
The type of return I like is a 500.00 investment for a 4,000.00 return in 2 weeks time. Some work involved but I haven't found a bank that will do that for me. That's why I like tractors. It adds up when you do 6 tractors in a row in 5-6 months in your spare time. Mark H.


Ludwig    Posted 04-15-2002 at 13:44:02       [Reply]  [No Email]
Is that parting out? I can't see it happening
with fixing up, unless you've got a bunch
sitting around breeding parts.
I suppose if you were just buying breeding
stock and selling the kids then it might work.
I've thought about doing that with
snowmobiles but it'd be mighty tough in the
apartment. Those things need space to run
around.


Dear Carp - banks?    Posted 04-12-2002 at 21:31:43       [Reply]  [No Email]
Banks are a lousy place for your money IF you expect it to grow faster than inflation. Period.
Why? Because the bank has overhead and all its employees have kids to feed too - if they all get a little and taxes get a little and inflation gets a little, there's dam little left for you.
Banks DO NOT beat inflation, no matter how you juggle things. Better to buy something that beats inflation, like guns or land.


Mark Hendershot    Posted 04-12-2002 at 20:02:53       [Reply]  [No Email]
I get a much better return on old tractors and property. I don't invest in anything else. I guess I like working with my money better then leting others do it. Haven't loss any yet either. I do have a saving plan for retirement if I live long enought to spend it. Mark H.


buck    Posted 04-12-2002 at 20:01:34       [Reply]  [No Email]

On your CD's it pays to know your bank. I have found that the bank will deal with you to keep your money. This is what I do. About the time the CD's are to mature I check other banks to check the going rates and tell them what I have in mind. I take this info back to my bank and compare and tell them of other offers and that I would like the best offer plus a bit to continue doing business with them. This also gets you good high limit no fee credit cards free checking and good interest on your other savings and checking accounts.


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