savings account question - Dallas Dance Music - Dallas nightlife, music, tickets, and more

Hey Bubu · 10-27-09, 08:53 AM

Had some savings on a GE interest plus account, recently took the money out. Looking for a new savings account, any recommendations other than underneath the mattress?

DataBass · 10-27-09, 09:00 AM

You aren't going to find a savings account that will offer any kind of decent interest right now.

Ash · 10-27-09, 09:01 AM

savings accounts are a ripoff unless you have a couple mil sitting in them.

Hey Bubu · 10-27-09, 10:02 AM

I understand what you guys are 'saying,' I'm just looking for the best possible alternative to automatically put some money into. If I don't see the money I won't spend it.

Tyler Durden · 10-27-09, 10:05 AM

And it looks like an IRA or a CD isn't any better than a savings account. Hell the 401K that I just closed seemed to be the only thing making money right now.

Those investments I've made in glowsticks, Kandie and the vinyl pressing industry didn't pan out.

Who's got some DDM investment advise?

Hey Bubu · 10-27-09, 10:09 AM

Under the matters it is then....

Tyler Durden · 10-27-09, 10:10 AM

Quote:

Originally Posted by Hey Bubu

I understand what you guys are 'saying,' I'm just looking for the best possible alternative to automatically put some money into. If I don't see the money I won't spend it.

How about a 401K with a pretty spread out distribution?

A-Dub · 10-27-09, 10:10 AM

I signed up with eTrade for their variable APY 3% savings account last January. Minimum $10 investment and it was still at 1.5% mid-summer but has since dropped to .50%. Looked around a bit and this is the best I can find so I'm sticking it out.

Hey Bubu · 10-27-09, 10:14 AM

Quote:

Originally Posted by Tyler Durden

How about a 401K with a pretty spread out distribution?

Already got that one, this is more of a quick access to cash/vacation account.

A-dub: thanks, I'll look into that.

Tyler Durden · 10-27-09, 10:25 AM

Quote:

Originally Posted by A-Dub

I signed up with eTrade for their variable APY 3% savings account last January. Minimum $10 investment and it was still at 1.5% mid-summer but has since dropped to .50%. Looked around a bit and this is the best I can find so I'm sticking it out.

Chit that's still better than a lot of savings accounts I just peeped. USAA has .50% up to .85% options right now.

But anything's better than a mattress. Obama will save the day...eventually.

Doesn't DDM have an investment banker in our ranks?

Deff Gordon · 10-27-09, 11:34 AM

if it's not a lot of money, then just open a savings account. attach it to your bank account as the access for overdraft protection on your normal bank account.

if you are wanting to let it sit for a while, you can do an annuity. not sure on rates right now, but a SPIA (single premium immediate annuity) with a distribution payout into a savings or IRA maybe something you can do...

there are literally thousands of things you can do to move it around to make it work for you.

if you want to pm me about how much you are looking at i can offer some suggestions.

Hey Bubu · 10-27-09, 12:04 PM

it's a small amount at this point in time.

thanks all for the suggestions/comments.

Deff Gordon · 10-27-09, 12:09 PM

either a savings account or IRA...

i'd go with the IRA and have a bank draft each month into it to help it grow.

Tyler Durden · 10-27-09, 12:34 PM

Quote:

Originally Posted by Deff Gordon

either a savings account or IRA...

i'd go with the IRA and have a bank draft each month into it to help it grow.

Follow up question:

What's the best (or a good) approach when determining 401k funds allocation/spread?

david austin · 10-27-09, 02:56 PM

Personally I would keep it out of a bank.

Seeing as how most banks are effectively insolvent and the FDIC is broke... I dunno... Just wouldnt want to be parking my cash for their use for essentially zero return.

10-27-09, 08:53 AM	#1 (permalink)
Hey Bubu Funky Spunk Join Date: Aug 2002 Location: take a left at the cow Posts: 17,124	savings account question Had some savings on a GE interest plus account, recently took the money out. Looking for a new savings account, any recommendations other than underneath the mattress? __________________ "We're so engaged in doing things to achieve purposes of outer value that we forget that the inner value, the rapture that is associated with being alive, is what it's all about." --Joseph Campbell,

10-27-09, 09:00 AM	#2 (permalink)
DataBass Join Date: Jun 2003 Location: Frass Canyon Posts: 62,644	Re: savings account question You aren't going to find a savings account that will offer any kind of decent interest right now. __________________ Those pussies are ripe fer fuckin.

10-27-09, 09:01 AM	#3 (permalink)
Ash Was up above it. Join Date: Aug 2001 Location: L.A., New York, Chicago, Boston, Seattle, Forney Posts: 27,034	Re: savings account question savings accounts are a ripoff unless you have a couple mil sitting in them. __________________ My milk snake brings all the girls to the yard.

10-27-09, 10:02 AM	#4 (permalink)
Hey Bubu Funky Spunk Join Date: Aug 2002 Location: take a left at the cow Posts: 17,124	Re: savings account question I understand what you guys are 'saying,' I'm just looking for the best possible alternative to automatically put some money into. If I don't see the money I won't spend it. __________________ "We're so engaged in doing things to achieve purposes of outer value that we forget that the inner value, the rapture that is associated with being alive, is what it's all about." --Joseph Campbell,

10-27-09, 10:05 AM	#5 (permalink)
Tyler Durden I'm yo passenja Join Date: Jun 2008 Location: Downtown Posts: 2,865	Re: savings account question And it looks like an IRA or a CD isn't any better than a savings account. Hell the 401K that I just closed seemed to be the only thing making money right now. Those investments I've made in glowsticks, Kandie and the vinyl pressing industry didn't pan out. Who's got some DDM investment advise? __________________ AsianCaucasian SoundCloud Myspace PoorVida / Betamorph Recordings / DubKraft Records

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10-27-09, 10:09 AM	#6 (permalink)
Hey Bubu Funky Spunk Join Date: Aug 2002 Location: take a left at the cow Posts: 17,124	Re: savings account question Under the matters it is then.... __________________ "We're so engaged in doing things to achieve purposes of outer value that we forget that the inner value, the rapture that is associated with being alive, is what it's all about." --Joseph Campbell,

10-27-09, 10:10 AM	#8 (permalink)
A-Dub Join Date: Dec 2003 Location: Dallas, Tx Posts: 2,780	Re: savings account question I signed up with eTrade for their variable APY 3% savings account last January. Minimum $10 investment and it was still at 1.5% mid-summer but has since dropped to .50%. Looked around a bit and this is the best I can find so I'm sticking it out.

10-27-09, 11:34 AM	#11 (permalink)
Deff Gordon ipodfood.com Join Date: Apr 2001 Location: North Dallas Posts: 21,525	Re: savings account question if it's not a lot of money, then just open a savings account. attach it to your bank account as the access for overdraft protection on your normal bank account. if you are wanting to let it sit for a while, you can do an annuity. not sure on rates right now, but a SPIA (single premium immediate annuity) with a distribution payout into a savings or IRA maybe something you can do... there are literally thousands of things you can do to move it around to make it work for you. if you want to pm me about how much you are looking at i can offer some suggestions. __________________ free music @ iPodFood.com upload your music/dj sets here for possible inclusion on edgeclub & iPodFood

10-27-09, 12:04 PM	#12 (permalink)
Hey Bubu Funky Spunk Join Date: Aug 2002 Location: take a left at the cow Posts: 17,124	Re: savings account question it's a small amount at this point in time. thanks all for the suggestions/comments. __________________ "We're so engaged in doing things to achieve purposes of outer value that we forget that the inner value, the rapture that is associated with being alive, is what it's all about." --Joseph Campbell,

10-27-09, 12:09 PM	#13 (permalink)
Deff Gordon ipodfood.com Join Date: Apr 2001 Location: North Dallas Posts: 21,525	Re: savings account question either a savings account or IRA... i'd go with the IRA and have a bank draft each month into it to help it grow. __________________ free music @ iPodFood.com upload your music/dj sets here for possible inclusion on edgeclub & iPodFood

10-27-09, 02:56 PM	#15 (permalink)
david austin Join Date: Nov 2004 Location: Dallas Posts: 8,636	Re: savings account question Personally I would keep it out of a bank. Seeing as how most banks are effectively insolvent and the FDIC is broke... I dunno... Just wouldnt want to be parking my cash for their use for essentially zero return. __________________ -273 = absolute zero. You can only go up from there.

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