Naraku4656 Posted May 13, 2019 Share Posted May 13, 2019 asking for a friend Link to comment Share on other sites More sharing options...
Poof Posted May 13, 2019 Share Posted May 13, 2019 What is this "savings" ? Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 13, 2019 Author Share Posted May 13, 2019 9 minutes ago, Poof said: What is this "savings" ? a pile of easily accessible money sitting in a bank getting 0.0000001% interest. Link to comment Share on other sites More sharing options...
André Toulon Posted May 13, 2019 Share Posted May 13, 2019 Are you 12? Link to comment Share on other sites More sharing options...
Poof Posted May 13, 2019 Share Posted May 13, 2019 9 minutes ago, Naraku4656 said: a pile of easily accessible money sitting in a bank getting 0.0000001% interest. Ppl really do that? What a novel concept Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 13, 2019 Author Share Posted May 13, 2019 5 minutes ago, Sho Minamimoto said: Are you 12? BAD TOUCH, I NEED AN ADULT Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 13, 2019 Author Share Posted May 13, 2019 3 minutes ago, Poof said: Ppl really do that? What a novel concept can't put everything in a 401k or an IRA, much as i'd like to Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 13, 2019 Share Posted May 13, 2019 At the very least find a high interest savings account. There are plenty of banks that give savings accounts with ~2% interest so you're at least keeping up with inflation. I used to keep a few hundred in a savings account that was linked with my checking but really there aren't that many situations I can think of where I'd really NEED immediate access to the money (Especially because the minimum balance for the account was $300 to avoid a fee so I actually only had like $30 in the account essentially). I can link the high interest account with my checking and get money in a couple days if necessary and for anything else I can use credit. As for an amount, I'd say enough to pay all your bills for a few months is ideal but who actually does that anymore. We have about 4k in a high interest account right now but a lot of that is going to moving related fees. Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 13, 2019 Author Share Posted May 13, 2019 i have a lot in savings in case i get some crazy medical bill or something but it's been sitting there snowballing for as long as i can remember and i hardly make anything on it. i was thinking of some conservative investment where i could bail it out if i REALLY needed to because at this point it's getting eaten by inflation. i don't like online savings accounts from banks that don't have a physical location, same with brokers. idk why, but it makes me feel better to have a physical person i can talk to and not sit on the phone for hours on hold if i ever really needed to for whatever reason. Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 13, 2019 Share Posted May 13, 2019 2 minutes ago, Naraku4656 said: i don't like online savings accounts from banks that don't have a physical location, same with brokers. idk why, but it makes me feel better to have a physical person i can talk to and not sit on the phone for hours on hold if i ever really needed to for whatever reason. Time to join the 21st century then, grandpa. But seriously man just read some reviews for some or something. I doubt most of them will ever have you waiting on hold "for hours". Discover, for instance, has a high interest savings and while I don't have one of those accounts with them I do have a credit card with them and don't think I've ever waited more than 5 minutes when I've called and all their call centers are U.S. based. Link to comment Share on other sites More sharing options...
bnmjy Posted May 13, 2019 Share Posted May 13, 2019 I'm pretty sure here is not the right place to ask. But you can always open a new savings account with a high yield interest rate. It sounds like you already have enough money for six months anyway. Link to comment Share on other sites More sharing options...
Poof Posted May 13, 2019 Share Posted May 13, 2019 27 minutes ago, Naraku4656 said: can't put everything in a 401k or an IRA, much as i'd like to just spend it on something you're gonna die anyway Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 13, 2019 Author Share Posted May 13, 2019 8 minutes ago, Athena 92 said: Time to join the 21st century then, grandpa. But seriously man just read some reviews for some or something. I doubt most of them will ever have you waiting on hold "for hours". Discover, for instance, has a high interest savings and while I don't have one of those accounts with them I do have a credit card with them and don't think I've ever waited more than 5 minutes when I've called and all their call centers are U.S. based. this is money i'm trying to keep as liquid as possible. i already have assets that are in other non-liquid forms, only one of which i can't convert until i'm in my 60s. putting it somewhere that i can't just drive to and talk to someone about makes me uneasy. i suppose i could probably split it some of it into a T note or something along those lines and keep some of it still sitting around for a break-glass type of ordeal. problem is i'm not sure exactly what that amount should be Link to comment Share on other sites More sharing options...
TrigunBebop Posted May 13, 2019 Share Posted May 13, 2019 Invest all your money in a balloon stash. Link to comment Share on other sites More sharing options...
Ric Posted May 13, 2019 Share Posted May 13, 2019 Give me your money and I'll make sure it's safe. Link to comment Share on other sites More sharing options...
tsar4 Posted May 14, 2019 Share Posted May 14, 2019 21 hours ago, Naraku4656 said: asking for a friend 3 months pay in savings (more if possible). Link to comment Share on other sites More sharing options...
tsar4 Posted May 14, 2019 Share Posted May 14, 2019 20 hours ago, Naraku4656 said: a pile of easily accessible money sitting in a bank getting 0.0000001% interest. bankrate.com Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 14, 2019 Share Posted May 14, 2019 20 hours ago, Naraku4656 said: putting it somewhere that i can't just drive to and talk to someone about makes me uneasy. R u like 60 years old or something seriously who actually goes to the bank in person. I've been to a bank like 3 times in the past 2 years and 2 of those times were to close an account. Anyway, not sure if Citibank has brick and mortar locations near you but they have high-yield savings accounts available. We have a savings account through them at something like 2.3% APY. It's linked with my checking so we can get any transfers within one business day. Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 14, 2019 Author Share Posted May 14, 2019 15 minutes ago, Athena 92 said: R u like 60 years old or something seriously who actually goes to the bank in person. I've been to a bank like 3 times in the past 2 years and 2 of those times were to close an account. Anyway, not sure if Citibank has brick and mortar locations near you but they have high-yield savings accounts available. We have a savings account through them at something like 2.3% APY. It's linked with my checking so we can get any transfers within one business day. i usually talk to people over the phone but i just like having the option in case i need it. i've had to go the bank a bunch of times (depositing stuff because the mobile app is terrible) Link to comment Share on other sites More sharing options...
fuggstop Posted May 14, 2019 Share Posted May 14, 2019 Rich people buy insurance. The money earned at LEAST 3% and you can put in a lot of money. Not endless, but a lot. One customer of mine did it, surrended after 15 years and retired with the money. Link to comment Share on other sites More sharing options...
fuggstop Posted May 14, 2019 Share Posted May 14, 2019 Fuck that GIVE IT TO ME! or like 50 puhl33aaassssee Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 14, 2019 Author Share Posted May 14, 2019 (edited) 13 minutes ago, fuggstop said: Rich people buy insurance. The money earned at LEAST 3% and you can put in a lot of money. Not endless, but a lot. One customer of mine did it, surrended after 15 years and retired with the money. 3ish% isn't really great for a 20 something. i guess neither is .0000001% i'm talking to an adviser on friday and they can probably tell me what to do. i've been averaging 5ish on my own not including 401k but i think i can do better Edited May 14, 2019 by Naraku4656 Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 14, 2019 Author Share Posted May 14, 2019 13 minutes ago, fuggstop said: Fuck that GIVE IT TO ME! or like 50 puhl33aaassssee https://www.forbes.com/sites/trulia/2016/07/11/new-to-budgeting-why-you-should-try-the-50-20-30-rule/#3153304d32e9 Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 14, 2019 Share Posted May 14, 2019 1 hour ago, Naraku4656 said: i usually talk to people over the phone but i just like having the option in case i need it. i've had to go the bank a bunch of times (depositing stuff because the mobile app is terrible) Get a better bank then, nerd. Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 14, 2019 Author Share Posted May 14, 2019 (edited) 2 minutes ago, Athena 92 said: Get a better bank then, nerd. well i'm talking to an adviser on friday. it's been at least over a year since i've talked to one so i'm probably overdue Edited May 14, 2019 by Naraku4656 Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 14, 2019 Share Posted May 14, 2019 1 minute ago, Naraku4656 said: well i'm talking to an adviser on friday. it's been at least over a year since i've talked to one so i'm probably overdue Just give all ur money to me Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 14, 2019 Author Share Posted May 14, 2019 3 minutes ago, Athena 92 said: Just give all ur money to me i hardly make anything, i'm just good at not spending anything Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 14, 2019 Share Posted May 14, 2019 8 minutes ago, Naraku4656 said: i hardly make anything, i'm just good at not spending anything Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 14, 2019 Author Share Posted May 14, 2019 (edited) do you want to join my MLM, if you recruit 700 other people and give all your money to me YOU CAN MAKE MILLIONS Edited May 14, 2019 by Naraku4656 Link to comment Share on other sites More sharing options...
Poof Posted May 14, 2019 Share Posted May 14, 2019 12 minutes ago, Naraku4656 said: i hardly make anything, i'm just good at not spending anything Nothing you say about your finances is true Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 14, 2019 Author Share Posted May 14, 2019 Just now, Poof said: Nothing you say about your finances is true i'm one of the lowest earners in my friend group of similarly aged people who are within the same or similar field. Link to comment Share on other sites More sharing options...
Poof Posted May 14, 2019 Share Posted May 14, 2019 36 minutes ago, Naraku4656 said: i'm one of the lowest earners in my friend group of similarly aged people who are within the same or similar field. I don't mind if you're rich poor or somewhere between. It's just one second your broke, the next you have a lot in your savings and investing. So idk what you mean when you talk about money really Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 14, 2019 Author Share Posted May 14, 2019 (edited) 9 minutes ago, Poof said: I don't mind if you're rich poor or somewhere between. It's just one second your broke, the next you have a lot in your savings and investing. So idk what you mean when you talk about money really both are true actually. i'm usually pretty cash poor. it's also a consequence of talking to people within the same income bracket who are doing a lot "better" than i am and gauging where i'm at and also being extremely aggressive in saving. an example is that i got an $80 a month raise after tax. but my newest paycheck showed up in pending in my bank, and i'm only going to see $10 of that. Edited May 14, 2019 by Naraku4656 Link to comment Share on other sites More sharing options...
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