Crazy investing fact

[JettaKnight]

Just answer this small question:

How many rules are there?

 

[rhino]

I'm getting 6.2% since 2012 on my railroad plan. I'm also increasing my contribution 1% every year till I get to 10% in 3 years when the company stops matching any more.

10% match is excellent! I had 6% for a while, but my last employer matched 3% if you put 6% in your 401K.

 

[historian]

My place matches 5, so I took them up on that. It isn't great for the budget but will pay off in the future.

 

[w_ADAM_d88]

Looking to get into investing in stocks, thinking of just going with the S&P500 to keep it basic for starting. Up until now the only "investing" done has been a Roth 401K plan through work. Putting in 15% and taking advantage of the 6% company match. We've also got a savings account that earns 2.05%.

 

[rhino]

Looking to get into investing in stocks, thinking of just going with the S&P500 to keep it basic for starting. Up until now the only "investing" done has been a Roth 401K plan through work. Putting in 15% and taking advantage of the 6% company match. We've also got a savings account that earns 2.05%.

2.05% on a savings account is excellent. Where are you getting that?

 

[CHCRandy]

2.05% on a savings account is excellent. Where are you getting that?

I think many offer that now, including Ally Bank, Goldman Sachs, American Express, Barclay, CIT, Synchrony......

 

[w_ADAM_d88]

I think many offer that now, including Ally Bank, Goldman Sachs, American Express, Barclay, CIT, Synchrony......

Goldman Sachs (Marcus) is who ours is through.

 

[w_ADAM_d88]

Goldman Sachs (Marcus) is who ours is through.

They just bumped their rate up to 2.25%.

 

[amboy49]

Anyone find anything locally ? IMCU is currently paying .25%. I feel like I’m leaving money on the table. However, not being able to walk into a financial institution and get my money makes me nervous. I assume that savings type products are all FDIC insured (?). I’m not willing to assume any risk whatsoever.

 

[jkaetz]

Anyone find anything locally ? IMCU is currently paying .25%. I feel like I’m leaving money on the table. However, not being able to walk into a financial institution and get my money makes me nervous. I assume that savings type products are all FDIC insured (?). I’m not willing to assume any risk whatsoever.

Huntington was offering 2.25 for a year on a money market account if you had one of their promotional coupons.

My wife had a similar concern about banking without a physical presence but I believe they are all about the same. I can count on one hand the number of times I've visited a physical location in the last 5 years.

 

[JettaKnight]

3 Rivers FCU (Fort Wayne) has a 13 month CD w/ ~2.25%.

(Terms and conditions apply)

 

[w_ADAM_d88]

Goldman Sachs (Marcus) is FDIC insured, but they are an internet only bank. However, you're allowed 6 withdrawals per month and with most online banking and/or due transfers funds are almost immediately available (1 business day). If you're in a position where you can't wait 1 business day for your funds to be transferred from a "large" interest account you probably need to focus on budgeting first.

And unlike mutual funds or CD's you don't have to wait a certain amount of time to reap the rewards of the growing interest.