ING Direct 5.30% Money Market Account (100K min)

[jdoggg12]

$50k/min and you can put your money into real estate banking... my mom is currently making 10% doing that.

 

[kaborka]

Originally posted by: jdoggg12
$50k/min and you can put your money into real estate banking... my mom is currently making 10% doing that.

Any links?

 

[jdoggg12]

Unfortunately no... i'll ask her about it next time i talk to her about it. I told her i was stoked about getting 5.15% with emigrant a few months ago, she laughed and said she was making 10%. I got all stoked and asked where i could get the same deal and she said you need at least 50k to start - which is laughably out of my my reach.

 

[kaborka]

I know folks who did well buying 2nd TDs in a thriving RE market, but in today's shaky times, it sounds extremely risky.

 

[Triforceofcourage]

Investing in real estate right now is possibly the stupidest thing you can do with your money. Hell, just give it to me if you want to part with it that badly.

 

[mbates73]

I have been investing in fidelity select mutual funds and they have done really well. Of course, the stock market did well this year, but these funds over their life have done pretty good for me IMHO. http://personal.fidelity.com/products/f.../content/browse.shtml.cvsr?refpr=ipmf1

They are called: "Sector - Fidelity Select Portfolios" and dont require a large minimum investment. They focus on specific sectors (mining, medical, paper, gold, realestate, etc) $2500 to invest in each.

Just my $.02 and this is definitely not FDIC insured and make sure you read their prospectus.

-Matt

 

[BadThad]

Originally posted by: dr150

Originally posted by: osiris3mc
HAH! If you have 100K to invest and you are only making a 5.30% return, you don't deserve to have the 100K in the first place.

Seconded.

You can do so much better with 100k.

On that kind of cash, I can make $1-$2k a day when the market swings my way.

True. However, you know your money is 100% safe in one of these savings/moneymarket accounts.

 

[cyberkost]

You can do so much better with 100k.

On that kind of cash, I can make $1-$2k a day when the market swings my way.

This is a trivial statement. If the market swings MY way I can do even more than $2K a day (well, on any given day there is almost always a stock that gets up/down more than 2 points). The problem being that the market tends to swing someone else's way most of the time. So, for some people, depending how sensitive they are to various sorts of risks (one of which is loss of principal), the liquidity of the investment, etc., going with 5% APY FDIC insured savings account is the way to go. Historically stock do better (but the risks are higher too), bonds are inbetween ... decisions, decisions.

 

[jdoggg12]

Originally posted by: Triforceofcourage
Investing in real estate right now is possibly the stupidest thing you can do with your money. Hell, just give it to me if you want to part with it that badly.

Only if you don't know what you're doing. My mom is a real estate broker/property manager with her own company. She has yet to lose a dime in real estate investing, you just have to know HOW to invest. BUYING a home right now (as an investment) would be pretty dumb right now.

As with any investment, those that do their hw dilligently will likely succeed. Those that make hasty decisions will likely fail.

Something like this is risky, but you imediately see its higher yield than the gaurenteed CDs and such

http://www.cpsnotes.com/ad.php?gclid=CLHL67nLg4kCFQRDYwodvDgi6w

 

[BadThad]

Originally posted by: jdoggg12
Only if you don't know what you're doing. My mom is a real estate broker/property manager with her own company. She has yet to lose a dime in real estate investing, you just have to know HOW to invest. BUYING a home right now (as an investment) would be pretty dumb right now.

As with any investment, those that do their hw dilligently will likely succeed. Those that make hasty decisions will likely fail.

Something like this is risky, but you imediately see its higher yield than the gaurenteed CDs and such

http://www.cpsnotes.com/ad.php?gclid=CLHL67nLg4kCFQRDYwodvDgi6w

Humm....attractive, but the interest only compounds annually:

The annual yield calculation assumes that:

- the term of the note is renewed sequentially for an entire year,
- the interest earned during each term is included in the principal amount for the next term,
- the listed interest rate is the interest rate for each term, and
- the accrued interest is paid annually. More frequent interest payments will reduce your annual yield.

That's the good part of the traditional savings with ING and the like, the interest paid MONTHLY.....compounding interest is good, gg.

Then, there's the scary part:

An investment in the notes involves certain risks, including business and litigation risks related to CPS, which are described in the prospectus and on the FAQ page of this web site. These risks include the potential loss of principal invested.

The notes are not bank certificates of deposit. They are not insured by the Federal Deposit Insurance Corporation, the Securities Investor Protection Corporation or any other agency or company. The notes are obligations of CPS only.

 

[jdoggg12]

Good point - but look at this breakdown on the effect of monthly/annual compounding interest. http://www.garybeene.com/retire/ret-comp.htm

The higher interest will yield greater returns in the long run (very long, haha). You're right on the risk part, but there are very very few "safe" investments that are substantially higher yield than markets in gaurenteed investments.

I just threw that link out there to show that there're always options.

In a (very) general sense investments:
~5% = gaurenteed investments with low mturity period
~5-15 = some/moderate risk or very long maturity period
15%+= substantial risk (i.e. stocks)

 

[Kevin]

Originally posted by: Triforceofcourage
Investing in real estate right now is possibly the stupidest thing you can do with your money. Hell, just give it to me if you want to part with it that badly.

The dumbest thing you can do is make statements with no basis. The housing market may be slowing but there's more to real estate than just housing. Commercial real estate has been doing quite well for example. I believe someone said earlier that if you know what you are doing then you'll be find. +1 to that.

 

[robby69]

Ted Aronsons Lazy Man's Portfolio

a simple, no-nonsense, passive, well-diversified asset-allocation strategy with no trading, no tinkering and no rebalancing

And remember folks, this is an asset-allocation strategy most financial planners charge big bucks for.

Buy the 11 no-load funds he lists and forget about them.

40% Domestic Stock Funds
30% Foreign Stock Funds
30% Fixed Income Funds

I have been using it with my retirement money, buy and forget.. averaging 19%/year over last 5 years.

 

[Triforceofcourage]

amtrust direct has 5.30% money market account with no minimum. Amtrust is big here in south florida with many branches scattered around.

 

[JaYwoO55]

merril lynch seems to currently have the best cd rates for 6 month cd

 

[TekDemon]

Originally posted by: bobdelt
does the fdic insure money market accounts?

lol, no which is why I thought it was funny how people were debating over the 100K and 200K limits.

Savings accounts are covered, but MMAs aren't...

However, MMA's are fairly stable anyways.

 

[Ecliptic]

Originally posted by: TekDemon

Originally posted by: bobdelt
does the fdic insure money market accounts?

lol, no which is why I thought it was funny how people were debating over the 100K and 200K limits.

Savings accounts are covered, but MMAs aren't...

However, MMA's are fairly stable anyways.

MMA's are a type of savings account and are insured by the FDIC

 

[bennylong]

Money Market funds are not FDIC insured. No MMF has ever fallen below their $1 NAV so it really doesn't matter unless we have another great depression.

 

[bennylong]

I think everyone is talking about two separate thing. MMA are insured as they are deposit account, MMF are not because they are invested in short term instrument.