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Beaver Fever
2017-07-27 16:27:06 UTC
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I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
Les Albert
2017-07-27 16:29:34 UTC
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On Thu, 27 Jul 2017 09:27:06 -0700 (PDT), Beaver Fever
Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
Hire a leg-breaker and put the money out on the street.

Les
Beaver Fever
2017-07-27 16:34:05 UTC
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Post by Les Albert
On Thu, 27 Jul 2017 09:27:06 -0700 (PDT), Beaver Fever
Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
Hire a leg-breaker and put the money out on the street.
Les
It's gotta be totally legal. And nothing too shady like medical marijuana.
a***@yahoo.com
2017-07-27 16:42:41 UTC
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Post by Beaver Fever
Post by Les Albert
On Thu, 27 Jul 2017 09:27:06 -0700 (PDT), Beaver Fever
Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
Hire a leg-breaker and put the money out on the street.
Les
It's gotta be totally legal. And nothing too shady like medical marijuana.
My mother and I have had good luck with Vanguard.
Greg Goss
2017-07-28 15:10:20 UTC
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Post by a***@yahoo.com
Post by Beaver Fever
Post by Les Albert
On Thu, 27 Jul 2017 09:27:06 -0700 (PDT), Beaver Fever
Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
Hire a leg-breaker and put the money out on the street.
Les
It's gotta be totally legal. And nothing too shady like medical marijuana.
My mother and I have had good luck with Vanguard.
(which fits the "look at the MER" advice in my post.)
--
We are geeks. Resistance is voltage over current.
Les Albert
2017-07-27 17:08:43 UTC
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On Thu, 27 Jul 2017 09:34:05 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Les Albert
On Thu, 27 Jul 2017 09:27:06 -0700 (PDT), Beaver Fever
Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
Hire a leg-breaker and put the money out on the street.
Les
It's gotta be totally legal. And nothing too shady like medical marijuana.
Here is something that you should read:
http://www.kiplinger.com/article/investing/T023-C006-S003-investment-advice-for-beginners.html

Here is another good read for beginners (look at #2 in this one):
https://finance.yahoo.com/blogs/talking-numbers/suze-orman-three-tips-beginning-investors-175351032.html

I would advise you to avoid investment advisors. They take a
percentage; no matter how small that percentage may be, it is very
difficult to achieve those percentages. So don't give any of it away.
Les
Alfalfa Bill
2017-07-28 01:14:03 UTC
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Post by Les Albert
On Thu, 27 Jul 2017 09:34:05 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Les Albert
On Thu, 27 Jul 2017 09:27:06 -0700 (PDT), Beaver Fever
Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
Hire a leg-breaker and put the money out on the street.
Les
It's gotta be totally legal. And nothing too shady like medical marijuana.
http://www.kiplinger.com/article/investing/T023-C006-S003-investment-advice-for-beginners.html
https://finance.yahoo.com/blogs/talking-numbers/suze-orman-three-tips-beginning-investors-175351032.html
I would advise you to avoid investment advisors. They take a
percentage; no matter how small that percentage may be, it is very
difficult to achieve those percentages. So don't give any of it away.
Les
I agree with Les.

The first savings that most people do is to create an emergency fund. You probably want to just open a savings account in a bank or savings & loan. Interest rates are shitty but this is money you can draw on at any time.

When you have a comfortable emergency account you can start saving for retirement.
Beaver Fever
2017-07-28 04:33:25 UTC
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Post by Alfalfa Bill
Post by Les Albert
On Thu, 27 Jul 2017 09:34:05 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Les Albert
On Thu, 27 Jul 2017 09:27:06 -0700 (PDT), Beaver Fever
Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
Hire a leg-breaker and put the money out on the street.
Les
It's gotta be totally legal. And nothing too shady like medical marijuana.
http://www.kiplinger.com/article/investing/T023-C006-S003-investment-advice-for-beginners.html
https://finance.yahoo.com/blogs/talking-numbers/suze-orman-three-tips-beginning-investors-175351032.html
I would advise you to avoid investment advisors. They take a
percentage; no matter how small that percentage may be, it is very
difficult to achieve those percentages. So don't give any of it away.
Les
I agree with Les.
The first savings that most people do is to create an emergency fund. You probably want to just open a savings account in a bank or savings & loan. Interest rates are shitty but this is money you can draw on at any time.
When you have a comfortable emergency account you can start saving for retirement.
I have a few bank accounts and so much more money than a few years ago and also still have unusually low living expenses so I am having a hard time figuring out exactly what the emergency fund is. Like if living expenses are $800 a month then I should have $9600. I am making that every few weeks right now.

A parent is advising me to a degree but need some second opinions. Turns out someone in a certain long neglected is a financial advisor now so I might have to talk to him? I haven't told my dad the full story but basically I turned $400 into a ridiculous amount of money in a few short years but hit the peak of my capabilities there so I am looking for something a bit safer. But not necessarily too safe.

Right now things are being complicated by a letter I just received from the IRS. After briefly contemplating sending all the money to my mom and committing suicide, I guess I just have to deal with it one way or the other.
Greg Goss
2017-07-28 15:11:32 UTC
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Post by Beaver Fever
Post by Alfalfa Bill
The first savings that most people do is to create an emergency fund. You probably want to just open a savings account in a bank or savings & loan. Interest rates are shitty but this is money you can draw on at any time.
When you have a comfortable emergency account you can start saving for retirement.
I have a few bank accounts and so much more money than a few years ago and also still have unusually low living expenses so I am having a hard time figuring out exactly what the emergency fund is. Like if living expenses are $800 a month then I should have $9600. I am making that every few weeks right now.
Three to six months worth.
--
We are geeks. Resistance is voltage over current.
Beaver Fever
2017-07-28 15:37:17 UTC
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Post by Greg Goss
Post by Beaver Fever
Post by Alfalfa Bill
The first savings that most people do is to create an emergency fund. You probably want to just open a savings account in a bank or savings & loan. Interest rates are shitty but this is money you can draw on at any time.
When you have a comfortable emergency account you can start saving for retirement.
I have a few bank accounts and so much more money than a few years ago and also still have unusually low living expenses so I am having a hard time figuring out exactly what the emergency fund is. Like if living expenses are $800 a month then I should have $9600. I am making that every few weeks right now.
Three to six months worth.
--
We are geeks. Resistance is voltage over current.
I have no intention of ever getting another job so it should probably be more.
Alfalfa Bill
2017-07-28 20:38:59 UTC
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Post by Beaver Fever
Post by Greg Goss
Post by Beaver Fever
Post by Alfalfa Bill
The first savings that most people do is to create an emergency fund. You probably want to just open a savings account in a bank or savings & loan. Interest rates are shitty but this is money you can draw on at any time.
When you have a comfortable emergency account you can start saving for retirement.
I have a few bank accounts and so much more money than a few years ago and also still have unusually low living expenses so I am having a hard time figuring out exactly what the emergency fund is. Like if living expenses are $800 a month then I should have $9600. I am making that every few weeks right now.
Three to six months worth.
--
We are geeks. Resistance is voltage over current.
I have no intention of ever getting another job so it should probably be more.
You are doing great with your savings.

Do you have an IRA or some similar type of retirement account? There are tax advantages if you fund an IRA. You can open an account with a firm like Vanguard and just tell them to make it an IRA account. (There are two types of IRAs, a Traditional IRA and a Roth IRA. There are also limits for how much money you can contribute into your IRA each year).

You can also open a personal account (not an IRA account) and invest as much as you want. If you just want to invest a bunch of money right now in an easy and smart way I would say call Vanguard, open a personal account. What sort of fund should you invest in?

Tim suggests a fund that mirrors the Dow Jones. Here is something similar from Vanguard:
https://personal.vanguard.com/us/funds/snapshot?FundIntExt=INT&FundId=0540#/
https://tinyurl.com/y7gwr5jl

Another possibility is a Life Cycle fund. These funds start out more aggressive and risky, and every year the fund is modified to be less risky. The idea is you can afford to take a risk and lose money when you are young but not when you are old and need to draw out the money for retirement. Here is one of those from Vanguard:

https://personal.vanguard.com/us/funds/snapshot?FundId=0306&FundIntExt=INT#/
https://tinyurl.com/y8yv5nrx
Les Albert
2017-07-28 15:32:53 UTC
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On Thu, 27 Jul 2017 21:33:25 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Alfalfa Bill
Post by Les Albert
On Thu, 27 Jul 2017 09:34:05 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Les Albert
On Thu, 27 Jul 2017 09:27:06 -0700 (PDT), Beaver Fever
Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
Hire a leg-breaker and put the money out on the street.
Les
It's gotta be totally legal. And nothing too shady like medical marijuana.
http://www.kiplinger.com/article/investing/T023-C006-S003-investment-advice-for-beginners.html
https://finance.yahoo.com/blogs/talking-numbers/suze-orman-three-tips-beginning-investors-175351032.html
I would advise you to avoid investment advisors. They take a
percentage; no matter how small that percentage may be, it is very
difficult to achieve those percentages. So don't give any of it away.
Les
I agree with Les.
The first savings that most people do is to create an emergency fund. You probably want to just open a savings account in a bank or savings & loan. Interest rates are shitty but this is money you can draw on at any time.
When you have a comfortable emergency account you can start saving for retirement.
I have a few bank accounts and so much more money than a few years ago and also still have unusually low living expenses so I am having a hard time figuring out exactly what the emergency fund is. Like if living expenses are $800 a month then I should have $9600. I am making that every few weeks right now.
A parent is advising me to a degree but need some second opinions. Turns out someone in a certain long neglected is a financial advisor now so I might have to talk to him? I haven't told my dad the full story but basically I turned $400 into a ridiculous amount of money in a few short years but hit the peak of my capabilities there so I am looking for something a bit safer. But not necessarily too safe.
Right now things are being complicated by a letter I just received from the IRS. After briefly contemplating sending all the money to my mom and committing suicide, I guess I just have to deal with it one way or the other.
I think there is still no extradition to the U.S. from Brazil for
monetary crimes, but you will have to learn Portuguese.

Les
Beaver Fever
2017-07-28 16:36:16 UTC
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Post by Les Albert
On Thu, 27 Jul 2017 21:33:25 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Alfalfa Bill
Post by Les Albert
On Thu, 27 Jul 2017 09:34:05 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Les Albert
On Thu, 27 Jul 2017 09:27:06 -0700 (PDT), Beaver Fever
Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
Hire a leg-breaker and put the money out on the street.
Les
It's gotta be totally legal. And nothing too shady like medical marijuana.
http://www.kiplinger.com/article/investing/T023-C006-S003-investment-advice-for-beginners.html
https://finance.yahoo.com/blogs/talking-numbers/suze-orman-three-tips-beginning-investors-175351032.html
I would advise you to avoid investment advisors. They take a
percentage; no matter how small that percentage may be, it is very
difficult to achieve those percentages. So don't give any of it away.
Les
I agree with Les.
The first savings that most people do is to create an emergency fund. You probably want to just open a savings account in a bank or savings & loan. Interest rates are shitty but this is money you can draw on at any time.
When you have a comfortable emergency account you can start saving for retirement.
I have a few bank accounts and so much more money than a few years ago and also still have unusually low living expenses so I am having a hard time figuring out exactly what the emergency fund is. Like if living expenses are $800 a month then I should have $9600. I am making that every few weeks right now.
A parent is advising me to a degree but need some second opinions. Turns out someone in a certain long neglected is a financial advisor now so I might have to talk to him? I haven't told my dad the full story but basically I turned $400 into a ridiculous amount of money in a few short years but hit the peak of my capabilities there so I am looking for something a bit safer. But not necessarily too safe.
Right now things are being complicated by a letter I just received from the IRS. After briefly contemplating sending all the money to my mom and committing suicide, I guess I just have to deal with it one way or the other.
I think there is still no extradition to the U.S. from Brazil for
monetary crimes, but you will have to learn Portuguese.
Les
This is so crazy I am not even going into it. But what they say I owe is far more than I even made. I am sure it can be smoothed over but I am looking for the most inexpensive way of doing that. I guess this was inevitable with vast sums flying in via Paypal on a regular basis.
Les Albert
2017-07-28 20:33:50 UTC
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On Fri, 28 Jul 2017 09:36:16 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Les Albert
On Thu, 27 Jul 2017 21:33:25 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Alfalfa Bill
Post by Les Albert
On Thu, 27 Jul 2017 09:34:05 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Les Albert
On Thu, 27 Jul 2017 09:27:06 -0700 (PDT), Beaver Fever
Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
Hire a leg-breaker and put the money out on the street.
Les
It's gotta be totally legal. And nothing too shady like medical marijuana.
http://www.kiplinger.com/article/investing/T023-C006-S003-investment-advice-for-beginners.html
https://finance.yahoo.com/blogs/talking-numbers/suze-orman-three-tips-beginning-investors-175351032.html
I would advise you to avoid investment advisors. They take a
percentage; no matter how small that percentage may be, it is very
difficult to achieve those percentages. So don't give any of it away.
Les
I agree with Les.
The first savings that most people do is to create an emergency fund. You probably want to just open a savings account in a bank or savings & loan. Interest rates are shitty but this is money you can draw on at any time.
When you have a comfortable emergency account you can start saving for retirement.
I have a few bank accounts and so much more money than a few years ago and also still have unusually low living expenses so I am having a hard time figuring out exactly what the emergency fund is. Like if living expenses are $800 a month then I should have $9600. I am making that every few weeks right now.
A parent is advising me to a degree but need some second opinions. Turns out someone in a certain long neglected is a financial advisor now so I might have to talk to him? I haven't told my dad the full story but basically I turned $400 into a ridiculous amount of money in a few short years but hit the peak of my capabilities there so I am looking for something a bit safer. But not necessarily too safe.
Right now things are being complicated by a letter I just received from the IRS. After briefly contemplating sending all the money to my mom and committing suicide, I guess I just have to deal with it one way or the other.
I think there is still no extradition to the U.S. from Brazil for
monetary crimes, but you will have to learn Portuguese.
Les
This is so crazy I am not even going into it. But what they say I owe is far more than I even made. I am sure it can be smoothed over but I am looking for the most inexpensive way of doing that. I guess this was inevitable with vast sums flying in via Paypal on a regular basis.
I won't ask you how much money is involved because that would be
gauche. But I am curious to know why you have a few bank accounts.
Why isn't one account enough?

Les
Beaver Fever
2017-07-29 01:25:05 UTC
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Post by Les Albert
On Fri, 28 Jul 2017 09:36:16 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Les Albert
On Thu, 27 Jul 2017 21:33:25 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Alfalfa Bill
Post by Les Albert
On Thu, 27 Jul 2017 09:34:05 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Les Albert
On Thu, 27 Jul 2017 09:27:06 -0700 (PDT), Beaver Fever
Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
Hire a leg-breaker and put the money out on the street.
Les
It's gotta be totally legal. And nothing too shady like medical marijuana.
http://www.kiplinger.com/article/investing/T023-C006-S003-investment-advice-for-beginners.html
https://finance.yahoo.com/blogs/talking-numbers/suze-orman-three-tips-beginning-investors-175351032.html
I would advise you to avoid investment advisors. They take a
percentage; no matter how small that percentage may be, it is very
difficult to achieve those percentages. So don't give any of it away.
Les
I agree with Les.
The first savings that most people do is to create an emergency fund. You probably want to just open a savings account in a bank or savings & loan. Interest rates are shitty but this is money you can draw on at any time.
When you have a comfortable emergency account you can start saving for retirement.
I have a few bank accounts and so much more money than a few years ago and also still have unusually low living expenses so I am having a hard time figuring out exactly what the emergency fund is. Like if living expenses are $800 a month then I should have $9600. I am making that every few weeks right now.
A parent is advising me to a degree but need some second opinions. Turns out someone in a certain long neglected is a financial advisor now so I might have to talk to him? I haven't told my dad the full story but basically I turned $400 into a ridiculous amount of money in a few short years but hit the peak of my capabilities there so I am looking for something a bit safer. But not necessarily too safe.
Right now things are being complicated by a letter I just received from the IRS. After briefly contemplating sending all the money to my mom and committing suicide, I guess I just have to deal with it one way or the other.
I think there is still no extradition to the U.S. from Brazil for
monetary crimes, but you will have to learn Portuguese.
Les
This is so crazy I am not even going into it. But what they say I owe is far more than I even made. I am sure it can be smoothed over but I am looking for the most inexpensive way of doing that. I guess this was inevitable with vast sums flying in via Paypal on a regular basis.
I won't ask you how much money is involved because that would be
gauche. But I am curious to know why you have a few bank accounts.
Why isn't one account enough?
Les
A few years ago I was so broke and my main bank went up to $12 a month. So I opened an account with the credit union. Then I got paranoid about giving out that CC# and also things turned around and I had enough in my main account that I was no longer paying the fees.

Last year I opened a cash management / brokerage account and stuck a lot of money in there. Then forgot about it for a year. Well, not forgot but since I was also quitting my job at the same time it helped to just have some money squirreled away and not easily accessible as I never even activated the debit card until recently.

Also for the longest time I needed a certain type of credit card. I kept reapplying and trying to secure it with more and more money and kept getting denied. I told a friend about my trouble getting the card. He said they have a bank, just open an account there. DUH.

So, that's 4 bank accounts. Add paypal and my Amex prepaid and that's 6 bank accounts or equivalents.

Was going to close the original bank account soon but they significantly upgraded the capabilities of my accounts including 4 additional checking accounts for free. One problem I am running into is I am having a problem buying good and services from out of state businesses (I am marking these up and reselling much to their consternation) so I am wondering if it's worth it to open mailboxes in those states so I don't lose these income sources.

Keep in mind I still have no idea what I am doing, this all started with a few hundred dollars a few years and me recognizing an easy moneymaking opportunity jumped in. I just kept reinvesting while working a day job and now have a low six figure sum of cash and inventory, but also at my absolute peak of capabilities and even incurring major losses because I have more than I keep an eye on. That's why I can turn $400 into over a hundred thousand but not turn that into ten million.

The problem with the IRS is a few years ago I still had no idea what I was doing and just added my side hustle profits to what I made on the day job and just filled it all in on my 1040 form. They just took the gross income one of my vendors paid me on that W and added that all on top and sent me a bill. So I know I can prove I don't owe that much just not sure at what cost. I did send in copies of all my bank statements and accounting today. For 2016 I hired a tax professional.

This is all on top of my worst week ever (actually when I add it all up this will be my best month ever).

Follow me? I hope not, I can't even follow myself right now.
Les Albert
2017-07-29 15:53:28 UTC
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On Fri, 28 Jul 2017 18:25:05 -0700 (PDT), Beaver Fever
Post by Beaver Fever
Post by Les Albert
I won't ask you how much money is involved because that would be
gauche. But I am curious to know why you have a few bank accounts.
Why isn't one account enough?
A few years ago I was so broke and my main bank went up to $12 a month. So I opened an account with the credit union. Then I got paranoid about giving out that CC# and also things turned around and I had enough in my main account that I was no longer paying the fees.
Last year I opened a cash management / brokerage account and stuck a lot of money in there. Then forgot about it for a year. Well, not forgot but since I was also quitting my job at the same time it helped to just have some money squirreled away and not easily accessible as I never even activated the debit card until recently.
Also for the longest time I needed a certain type of credit card. I kept reapplying and trying to secure it with more and more money and kept getting denied. I told a friend about my trouble getting the card. He said they have a bank, just open an account there. DUH.
So, that's 4 bank accounts. Add paypal and my Amex prepaid and that's 6 bank accounts or equivalents.
Was going to close the original bank account soon but they significantly upgraded the capabilities of my accounts including 4 additional checking accounts for free. One problem I am running into is I am having a problem buying good and services from out of state businesses (I am marking these up and reselling much to their consternation) so I am wondering if it's worth it to open mailboxes in those states so I don't lose these income sources.
Keep in mind I still have no idea what I am doing, this all started with a few hundred dollars a few years and me recognizing an easy moneymaking opportunity jumped in. I just kept reinvesting while working a day job and now have a low six figure sum of cash and inventory, but also at my absolute peak of capabilities and even incurring major losses because I have more than I keep an eye on. That's why I can turn $400 into over a hundred thousand but not turn that into ten million.
The problem with the IRS is a few years ago I still had no idea what I was doing and just added my side hustle profits to what I made on the day job and just filled it all in on my 1040 form. They just took the gross income one of my vendors paid me on that W and added that all on top and sent me a bill. So I know I can prove I don't owe that much just not sure at what cost. I did send in copies of all my bank statements and accounting today. For 2016 I hired a tax professional.
This is all on top of my worst week ever (actually when I add it all up this will be my best month ever).
Follow me? I hope not, I can't even follow myself right now.
I think I understand what you describe. If you have sent them proof
then you will probaby come out okay. And it's smart letting a tax pro
do the work for 2016.

Les
Greg Goss
2017-07-29 15:00:36 UTC
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Post by Les Albert
I won't ask you how much money is involved because that would be
gauche. But I am curious to know why you have a few bank accounts.
Why isn't one account enough?
I don't know about the USA rules, but in Canada, the limits on
government insurance for accounts at any one bank are much less than
the amount needed for a healthy retirement.
--
We are geeks. Resistance is voltage over current.
Les Albert
2017-07-29 15:49:58 UTC
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Post by Greg Goss
Post by Les Albert
I won't ask you how much money is involved because that would be
gauche. But I am curious to know why you have a few bank accounts.
Why isn't one account enough?
I don't know about the USA rules, but in Canada, the limits on
government insurance for accounts at any one bank are much less than
the amount needed for a healthy retirement.
In his latest post he explains why he has several accounts, and it has
nothing to do with insurance amounts at any one bank.

Les
B***@BillTurlock.com
2017-07-28 05:10:16 UTC
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On Thu, 27 Jul 2017 18:14:03 -0700 (PDT), Alfalfa Bill
Post by Alfalfa Bill
I agree with Les.
The first savings that most people do is to create an emergency fund. You probably want to just open a savings account in a bank or savings & loan. Interest rates are shitty but this is money you can draw on at any time.
When you have a comfortable emergency account you can start saving for retirement.
leroy
Tim Wright
2017-07-27 16:45:34 UTC
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Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
There are a number of DOW indexed mutual funds that pay pretty well.
Find yourself a good financial adviser that works for one of the bigger
brokerage houses. Don't get some independent guy who can easily scoot
out of town with all your cash in tow. If your guy is any good, his
fees will be money well spent. Tell me where you live and I'll ask my
guy if he knows anyone in your area he can recommend.
--
Studies have shown that the people of Dubai don't understand the humor
of the Flintstones, but the people of Abu Dhabi do.

Tim W
Greg Goss
2017-07-28 15:12:21 UTC
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Post by Tim Wright
Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
There are a number of DOW indexed mutual funds that pay pretty well.
Find yourself a good financial adviser that works for one of the bigger
brokerage houses. Don't get some independent guy who can easily scoot
out of town with all your cash in tow. If your guy is any good, his
fees will be money well spent. Tell me where you live and I'll ask my
guy if he knows anyone in your area he can recommend.
The fees are usually paid by the funds, not by you. His commissions
are part of the MER which every fund publishes.
--
We are geeks. Resistance is voltage over current.
Greg Goss
2017-07-28 15:09:40 UTC
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Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by the parental units. I need to start earning interest on my money. What do I do?
In today's markets, interest will barely keep up with inflation. You
need to accept some risk.

The standard advice is to have four pockets, divide your contributions
between them according to a pre-chosen percentage, then rebalance back
to that percentage from time to time.

An example is to put "your age percent" into a bonds mutual fund, and
one third of the rest each into small-cap, large-cap and international
funds.

When choosing a fund, look VERY closely at the MER (money paid to the
fund managers) and decide whether it will be worth it. For large-cap
and bond funds, it probably won't be - choose the fund with the
smallest MER you can find -- probably an S&P 500 ETF or fund. For
small-cap and international, opinions vary.

Then every two years, calculate the percentages and move money around
to bring you back to the percentages you chose in the first place.
This automatically "sells high, buys low".
--
We are geeks. Resistance is voltage over current.
B***@BillTurlock.com
2017-07-28 20:00:19 UTC
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Post by Greg Goss
The standard advice is to have four pockets, divide your contributions
between them according to a pre-chosen percentage, then rebalance back
to that percentage from time to time.
among
Greg Goss
2017-07-29 15:02:20 UTC
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Post by Greg Goss
The standard advice is to have four pockets, divide your contributions
between them according to a pre-chosen percentage, then rebalance back
to that percentage from time to time.
among
I thought that the other Bill was our "I CAN'T retire!" editor.
--
We are geeks. Resistance is voltage over current.
bill van
2017-07-30 05:45:12 UTC
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Post by Greg Goss
Post by Greg Goss
The standard advice is to have four pockets, divide your contributions
between them according to a pre-chosen percentage, then rebalance back
to that percentage from time to time.
among
I thought that the other Bill was our "I CAN'T retire!" editor.
Oh, I'm retired. That just means I don't get paid for spelling or
grammar or misplaced thingamamabob corrections. It doesn't mean I stop
doing it.
--
bill
Questor
2017-07-28 15:18:55 UTC
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Post by Beaver Fever
I know this group is totally dead now but I need some ideas beyond those offered by
the parental units. I need to start earning interest on my money. What do I do?
Low-fee mutual funds.
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