» Site Navigation | | » Recent Threads | | | | | | | 05-09-2007, 09:50 PM | #1 | Senior Member Join Date: Nov 2005 Location: çî†ÿ øf åNgëL§, CA Posts: 5,314 | Money Investing So theres a radio show i listen to and the topic yesterday that was brought up was money investing which open my eyes and ears. Ive heard (but forgot about) of places where you deposit money and they pay you a percentage anually depending on how much you deposit. I even heard of companies that will match whatever you deposit or half of what you deposit. Anyone know of a good company where i can invest my money (other than stocks cuz you can lose your money) where they pay you a percentage anually? I forgot the company the guy mention that was a good one. Or how do you invest your money? Rather than just saying saving. Im looking for something that will you pay you for having your money there. | | | 05-09-2007, 09:55 PM | #2 | doesn't care about you. Join Date: Aug 2004 Location: Denver, CO Posts: 3,925 | I have a high yield savings account through Capital One. I get like 4.7% interest on my savings. I also contribute 15% of my paycheck to my company's 401(k). They match 50% of my contribution upto 6%, so I get an immediate return on that, but I have to wait until retirement to get it out. I'm toying with the idea of starting an additional Roth IRA too, just cause they grow really fast. But again, that has to stay in until retirement as well. A high yield savings account or CD is probably your best bet if you want to keep you money liquid. __________________ '99 Dinan M3 | | | 05-09-2007, 09:58 PM | #3 | Senior Member Join Date: Nov 2005 Location: çî†ÿ øf åNgëL§, CA Posts: 5,314 | Since i dont have a "career" right now, i dont think about the 401k. Maybe when i become a cop ill do that. Im kinda looking for an investment that i can take out later. Maybe save for like 15 yrs, and not exactly when im 65 and retired. | | | 05-09-2007, 10:08 PM | #5 | Senior Member Join Date: Mar 2005 Location: Detroit, MI Posts: 585 | Do a Roth IRA. Ive had one since I was 13. Ive put in 1 grand every year and my dad matched it until i was 16. I just looked at the estimate, if i keep on putting 1 grand a year until im 65. It will be in between 2million and 3million. But the % rates change, so it could be more or less. Good long term savings for teens. __________________ | | | 05-09-2007, 10:10 PM | #6 | Senior Member Join Date: Nov 2005 Location: çî†ÿ øf åNgëL§, CA Posts: 5,314 | Is roth ira a type of investment or a company, ill search on that. Cuz yea seriously, i wanna have some money! Its either poker or some kind of stock thatll get me rich. | | | 05-09-2007, 10:19 PM | #7 | Senior Member Join Date: Aug 2006 Location: Central NJ Posts: 2,440 | It's a type of investment (designed for Education of your offspring). I have an account (btw I'm 18) at ING Direct ( www.ingdirect.com) with over 5% yield on my checking account. 5% doesn't sound like much, though. Consider a mutual fund with low-risk at around 7+ % or a CD at ~6% with practically NO risk. | | | 05-09-2007, 10:20 PM | #8 | Senior Member Join Date: Nov 2005 Location: çî†ÿ øf åNgëL§, CA Posts: 5,314 | Yea i just came across that website. | | | 05-09-2007, 10:58 PM | #9 | doesn't care about you. Join Date: Aug 2004 Location: Denver, CO Posts: 3,925 | Quote: Originally Posted by HuGo | It would be more than that. It depends how the interest is calculated. $8k makes about $1 a day in interest. Not bad for just letting it sit there... __________________ '99 Dinan M3 | | | 05-10-2007, 03:11 AM | #10 | Senior Member Join Date: Jun 2003 Location: Saint Paul, MN Posts: 3,244 | Quote: Originally Posted by adamud Do a Roth IRA. Ive had one since I was 13. Ive put in 1 grand every year and my dad matched it until i was 16. I just looked at the estimate, if i keep on putting 1 grand a year until im 65. It will be in between 2million and 3million. But the % rates change, so it could be more or less. Good long term savings for teens. | Aren't Roth IRAs limited to a small amount like, 5k per year? Or do you take out a new one every year? __________________ My Former Rides 1999 318ti Alpine White, Cali Roof, Dinan goodies 1996 318ti Hellrot California Edition | | | 05-10-2007, 03:26 AM | #11 | doesn't care about you. Join Date: Aug 2004 Location: Denver, CO Posts: 3,925 | Quote: Originally Posted by 96cali Aren't Roth IRAs limited to a small amount like, 5k per year? Or do you take out a new one every year? | I think it's $2k/year individual or $5k/year for couples. I heard they're going to up that amount though. __________________ '99 Dinan M3 | | | 05-10-2007, 03:29 AM | #12 | Senior Member Join Date: Nov 2005 Location: çî†ÿ øf åNgëL§, CA Posts: 5,314 | ok so where do i go to put my money into Roth IRA? at 2k, how much more is that a year that you get from ur 2k. | | | 05-10-2007, 04:03 AM | #13 | Senior Member Join Date: Jul 2005 Location: Ann Arbor, MI Posts: 150 | Now you can put in 4 grand a year as an individual. It was structured so that the yearly investment limit will increase in proportion to the economy's inflation rate. http://en.wikipedia.org/wiki/Roth_IRA Wikipedia is your friend. Google is also your friend. | | | 05-10-2007, 04:06 AM | #14 | Senior Member Join Date: Nov 2005 Location: çî†ÿ øf åNgëL§, CA Posts: 5,314 | Quote: Originally Posted by branden Now you can put in 4 grand a year as an individual. It was structured so that the yearly investment limit will increase in proportion to the economy's inflation rate. http://en.wikipedia.org/wiki/Roth_IRA Wikipedia is your friend. Google is also your friend. | i actually did look it up in wikipedia, but i didnt see where i can start, unless i missed it. | | | 05-10-2007, 04:08 AM | #15 | Senior Member Join Date: Jun 2003 Location: Greenville, SC Posts: 9,356 | I'm going to sell 318ti.org and retire. __________________ ...steven BMW CCA #146825 1996 BMW 328ti • 2003 MINI Cooper S • 2016 M235i www.bmwcca.org | | | | | Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | | Posting Rules | You may not post new threads You may not post replies You may not post attachments You may not edit your posts HTML code is Off | | | |