Anyone have ING but switch?
Originally Posted by lazybummm
keep inflation in mind...you're not much more ahead. I don't know, I guess I am really biased about CD's, I don't like them 
. If you're young, buy some aggressive overseas growth funds instead. Put the money into an Roth-IRA if you don't already have one, always thought there are many better things than CD...
3 in a row...
. If you're young, buy some aggressive overseas growth funds instead. Put the money into an Roth-IRA if you don't already have one, always thought there are many better things than CD...3 in a row...
I have about 10k to play with..im young...i figure it wont hurt much to be more aggressive with it
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someone tell me what to do with the $10K I have in my 401K. it is sitting with Fidelity right now. it was growing for a while, now it is kind of sitting. =\
Originally Posted by mcdrama
someone tell me what to do with the $10K I have in my 401K. it is sitting with Fidelity right now. it was growing for a while, now it is kind of sitting. =\
Most places won;t let you just pull money out of your 401K to invest where you want. There's roll over for when you change jobs or a new provider, but to get a cash out would result in high tax consequences.
Werd..plus with fidelity you can change which funds you want your 401k vested in, talk to them and see what other index funds they have to offer. Mine has stalled recently as well, but remember 401ks are long term investments....
Originally Posted by BOOOST4
The main thing is to do something that works for you.
I expect 3 things:
a competitive interest rate
great service
and ease of mind
I've been w/ ING for 5 years now...no issues and the customer service has been top notch. I've moved large amounts in and out, w/ relatively little hassle.
I'm cool w/ them, even though they aren't the highest rate out there.
Something like Paypal...well I'd half expect my money to be gone after a month...maybe it's just the bad press or the fact I still get scams emailed to me, 2 years after I closed my account. I just don't trust them...not w/ my savings.
I expect 3 things:
a competitive interest rate
great service
and ease of mind
I've been w/ ING for 5 years now...no issues and the customer service has been top notch. I've moved large amounts in and out, w/ relatively little hassle.
I'm cool w/ them, even though they aren't the highest rate out there.
Something like Paypal...well I'd half expect my money to be gone after a month...maybe it's just the bad press or the fact I still get scams emailed to me, 2 years after I closed my account. I just don't trust them...not w/ my savings.
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I have ING and like it a lot. I see no reason for myself to switch to another to gain 0.5% or something considering what the return difference is for the amount of money I have invested in a savings account.
the artist formerly known as mcdrama
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Originally Posted by BOOOST4
aren't you limited by the selection of funds by the provider? I've got Fidelity as well manaing our company's 401K. They offer various strategy categories and what not, but overall, their fund selection seems limited for our group.
Most places won;t let you just pull money out of your 401K to invest where you want. There's roll over for when you change jobs or a new provider, but to get a cash out would result in high tax consequences.
Most places won;t let you just pull money out of your 401K to invest where you want. There's roll over for when you change jobs or a new provider, but to get a cash out would result in high tax consequences.
Yeah, I have changed employers so no funds are being added right now. I know about the high tax consequence if I write that transfer check to myself. If I have the funds transfered to another investment whatchamacallit, then I do not get taxed in the ***.
Originally Posted by mcdrama
Yeah, I have changed employers so no funds are being added right now. I know about the high tax consequence if I write that transfer check to myself. If I have the funds transfered to another investment whatchamacallit, then I do not get taxed in the ***.
Does your new employer offer 401K plan? If so, you'll most likely be required to roll it over into their family of plans.
If they don't than I guess you waulify for an independant IRA or IRA Roth (after tax).
Originally Posted by ucbsti
Werd..plus with fidelity you can change which funds you want your 401k vested in, talk to them and see what other index funds they have to offer. Mine has stalled recently as well, but remember 401ks are long term investments....
Those are like buying a little bit of everything, so the entire market has to go up for the index to do well.
You'll probably want something more specific...more like mutual funds which is a much smaller group of stocks compared w/ an index.
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Originally Posted by BOOOST4
You either got 3 or 6 months to roll it over. I forget.
Does your new employer offer 401K plan? If so, you'll most likely be required to roll it over into their family of plans.
If they don't than I guess you waulify for an independant IRA or IRA Roth (after tax).
Does your new employer offer 401K plan? If so, you'll most likely be required to roll it over into their family of plans.
If they don't than I guess you waulify for an independant IRA or IRA Roth (after tax).
can someone clear something up about cd's for me please. Lets say a 10k cd is bought with a lifespan of 6 months and 5.25%APY. How much interest would be compounded when the period is over? I would think its 525? I'm confused because everywhere it says "compounded monthly" i don't know what that is about. I got the rates off of citibank btw.
Originally Posted by sjscooby
can someone clear something up about cd's for me please. Lets say a 10k cd is bought with a lifespan of 6 months and 5.25%APY. How much interest would be compounded when the period is over? I would think its 525? I'm confused because everywhere it says "compounded monthly" i don't know what that is about. I got the rates off of citibank btw.
So, you keep it in for 6months, the first month you get $10k * .0525/12 = $43.75. the next month, your balance is $10,043.75 so you get $10,043.75 * .0525/12 = $43.94, etc.
So, by the end of it you ~$270 off of it. If it was only compounded once then you'd get $262.50. Compounding monthly give you a little bit more.
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Local credit unions like StarOne in santa clara county have rates that are right up there with the "Directs" like ING and HSBC. Savings at 4.9% and cds in the 5.1% range. I like them because there's an actual brick and mortar office you can go to to do transactions... plus they have atms.
If I had extra cash lying around I would probably open a Vanguard account and get a few of their low cost index funds.
If I had extra cash lying around I would probably open a Vanguard account and get a few of their low cost index funds.
Last edited by andyf; Oct 26, 2006 at 02:36 PM.
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Originally Posted by andyf
Local credit unions like StarOne in santa clara county have rates that are right up there with the "Directs" like ING and HSBC. Savings at 4.9% and cds in the 5.1% range. I like them because there's an actual brick and mortar office you can go to to do transactions... plus they have atms.
If I had extra cash lying around I would probably open a Vanguard account and get a few of their low cost index funds.
If I had extra cash lying around I would probably open a Vanguard account and get a few of their low cost index funds.
Often times credit unions have even better rates. I know there is one here in Walnut Creek offering 6% 12-month CDs