Quote:
Originally Posted by fgaba1949
the single safest place in the entire world to put your savings is like a 1 year T note ,,especially right now with the huge interest rate .....
Seriously Not sure why anyone would have money in a bank right now when the T NOTES are paying such a huge amount in interest ,,,,,also remember if you open a lets say a CD 10,000 then you must put in $10,000 ..when you buy a 10,000 T Note you put in less then $10,000 to open it .......and their are small tax advantages for some...
As a retired banker with one of the BIG BANKS
a neighbor in the Villages asked me what to do with 2 year CD paying less then .70 % and has 12 months to go,,,,,my advise dump the CD pay the little penalty and start earning almost 5 % with a 1 year T note ,,
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I have no intention of saving this money for any particular length of time. It will go toward "the lifestyle" that we -would- have been enjoying for the past three years, if we had the option of waiting to retire until retirement age but were unable to do that due to a company shut-down up north.
With the increase in income, our health insurance premium will also increase. I'm also in need of a new car (which will still be a used car, but a newer model).
We live within our means. And now, our means will be somewhat more relaxed.