Where are you putting it ?
 

OMG :22yikes: the economy is in the terlet - WAMU is in trouble - I'm stuck in s/Oregon for who knows how long - but the question is.........

Where do you put the few extra $$$ you have ? in savings accounts, CDs, money market, under the mattress, other investments?

WHERE ?

A commercial Bank ala J.P. Morgan Chase......this according to a Financial Advisor on the radio yesterday.

I recently saw a billboard advertising AAA 5 year CDs in the low 5 percent range

If its under $100.000 , put it in a vehicle in your bank !!! If $400.000 put it in vehicles in four different banks...........

allways helpful fumar




personally I use 1032 different banks...........( choke choke )

On a day like today, our thoughts may turn to the FDIC. Just how does that insurance of our bank accounts work?

Fumar's post in this thread pretty well sums up the basics. That $100,000 thing. Interest on an initial $100,000 deposit will take it over the insured amount.

Something that has changed in the last couple of years is the FDIC insurance for IRA's. That has been increased to $250,000. But that is only for IRA's invested in bank deposits, such as CD's. Not on other investments that may be through the bank. Be clear on that one if it applies. Be clear on all of this if it applies. And be clear in understanding that I am not a financial expert or advisor in any way, shape, or form. I just like to know this stuff. Sometimes I feel like that's a curse. But, oh well. I digress. (That's a curse, too.)

Anyway, here is a link to "Money Girl's Quick and Dirty Tips for a Richer Life." This one is about FDIC insurance of bank accounts. If you click on the tab that says "About Money Girl" you will see that she probably knows her stuff and interestingly, she lives in Central Florida.

I sure like the way she explains this.

But even though Money Girl seems to know what she is talking about, she always says to get professional advice and that her stuff is for the purpose of education only. Got that? Don't listen to Money Girl. (And don't listen to Boomer.) -- for professional financial advice. Just maybe read this if you are interested in seeing what she has to say, for the purpose of education.

So here's your link to "Money Girl" in case you like to know about this stuff, too.

http://moneygirl.quickanddirtytips.c...questions.aspx

You know, we have met the FDIC. And it is us. What a mess, huh.

Boomer

Boomer.....
 

That was a fantastic response and that link answered something I've been wanting to know :coolsmiley: You are a very smart girl :MOJE_whot: THANK YOU :clap2:

Under the mattress.

Well, I went bargain shopping on Wall Street today. It ended up being a good day for me. That's today. Who knows what tomorrow will bring? I only know that great fortunes can be made when everyone is afraid to buy. I also know that a bird in hand is worth two in the bush. Guess I'm looking in the bushes for now.

What $$$$...In the 'fun' jar

Gracie......
 

:1rotfl: :1rotfl: :1rotfl: :agree:

Well, at least some of it !

Sam........
 

I agree with you about the bargains in stocks; however at my age - I don't have the time to wait it out ! :undecided:

That's just wrong.

I agree w/Samhass. It was like being at Macy's yesterday. Lot's of bargains to be had---but don't buy a Nehru jacket.

Sam -
Sounds like you did the right thing...
My son, an equity trader, forwarded these two articles to me today....



http://www.tennessean.com/apps/pbcs....=2008809160349

http://www.nytimes.com/2008/09/16/bu...nted=2&_r=1&hp

I wouldn't put any $$$ in anything with a commitment longer than one year. I think we're in for a significant inflation within the next one to two years. 5% may be a fraction of the return we may see in two or three years.