Investment BS Thread - Stocks/Futures/Mutual Funds/Bonds/Commodities/Options/ETFs/401ks/Etc

9% seems to good to be true, maybe 0.9% ? If it is true please give me the name and i will gladly take a 5month position on that!

I recently started a ROTH IRA at 36 so its really never to late, good thing about ROTH IRA is that the money is already taxed and no penalty for taking out funds (unless you take interest out) but if you only take out contributions then no penalty which makes it great because you are able to withdraw if you need money in a pinch.
There is a limit per year you can contribute so taking out large chunks takes years to get back.
You can almost think of a ROTH IRA as a second savings account, but actually pays good interest
The bad part of ROTH IRA is it takes awhile to start moving but you being 30 you will probably enjoy the interest earnings when your in your 50s

I am not well versed on 401k if your employer does not offer since its a pre-tax contribution, there might be bond/mutual fund options that are good, or max your ROTH IRA then use extra money in stocks

I would defiantly go talk to someone, i personally use Fidelity because there is an office near my work, i can trade stocks for not much money, move money around with no fees, and their website is very easy to use and i can do most everything on it (only actually had to goto Fidelity office 1 time to sign a paper) They also have debit cards to access out of your account faster and checks.

 

Thanks for all the info. I was looking into opening an roth with fidelity, I’m down in San Diego, I’m sure they have an office fairly close to me.

 

at your age with no 401k I would start investing in an Roth or Traditional IRAs every year , with the traditional you use it as a Tax deduction at the end of the year and recoup some of that money but the distributions get taxed when you get them at age 59 1/2 years old you can start drawing out the money. if you can get 9% I would max that out for only 5 months with as much as I could if that's really the interest rate.

 

Thanks! They’ve asked me before about certificates, and I’ve always passed on them because the interest wasn’t much better than what my current savings account offers. But at 9% I plan on going in and talking with someone at my credit union on Monday or Tuesday about it.

 

fuck yeah can I get into that?

 

dude put as much as you can into that CD, 5 months goes fast, nobodies offering that rate of return on 5 month cds

 

I think 3k is the max. I rarely touch my savings, so I won’t miss that money for 5 months.

 

so take $3000 x .09(9%)=$270(12 months) divided by 12 = $22.50 per month x 5(months) =$112.50 for doing nothing

 

Heck yeah!

 

the name of the game is let your Money work for you, Welcome to the Club Brother

 

Yeah max out that 9% and get some free money.

Looks like you got a checklist
Open that 9% CD
Visit Fidelity or other investing place
Traditional IRA
Roth IRA

You can also think about stocks, little more high risk but can make good money, plus some pay dividends

 

I appreciate your help, thank you.

 

Please check into that. I can't believe they are paying 9 percent.

Color me skeptical.

 

Damn, how do I sign up for that 9% CD? Can it be done Online? Can you get any referral bonuses?

 

As was I! That seems unheard of, but it’s on their site, it’s inaured, and I can go 5 months without touching 3k in my account. My next day off is Tuesday so I’ll more than likely go in and talk to someone in person about it.

 

I believe it can be done on-line, not sure if that applies to non members.

 

California Coast Credit Union is who is offering it. I don’t see any referral bonuses or incentives

 

If anyone is thinking about joining online, You can use my name for a referral for opening a new account, we both get 50 bucks.


2. Online - Simply click on the link below and enter the name and email address of the person you want to refer. They'll receive your referral invite with this special offer in their email. They can then apply for membership by showing their referral email at a branch or applying on calcoastcu.org. Make sure to let them know to put "Coast into Cash referral" in the "How did you hear about us?" section of the online application and to provide your name and current address.

 

Dang they are just giving away money