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I max out my 401K, keep disaster cash in a local savings account and have some traditional iras from rollovers of previous employers.
I don't think the interest you make on regular savings is worth anything from an investment point of view. I want ready cash for emergencies, but my retirement is managed in investments, not savings accounts. I've been making between 11-12 percent since 1989, including the crash.
I also carry no regular rollover/credit card debt. I carry a Discover and two Visa cards that I use regularly. One Visa is for on-line and for my kids to carry in case they need it. My company also provides an Amex, though I use it only for company travel. That way, I have been able to take advantage of "no interest for a year" cards when things like a new engine was needed in my car and when we had 1.5 house A/C units go out in 2 years.
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No, savings aren't really an investment. I didn't mean to imply that, but they are necessary. And 5.05% isn't bad.
Do you have children, sscutcen?
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[quote space-time]yeah life is tough, I am sometimes considering going back to Europe where school is free and healthcare affordable. Taxes are higher, indeed, but so is the Euro these days, and at lest I see what was done with my taxpayer Euros: schools, hospitals, not wars. but now that belong in the Political forum. So I stop here.
I don't think this is a political point; however you feel about the war in Iraq, it is a fact is that U.S. taxpayers are paying for it (now and in the future).
Want to know how much you are paying for it? This site tells you, based on your income:
http://www.mywartax.org/
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[quote DharmaDog]No, savings aren't really an investment. I didn't mean to imply that, but they are necessary. And 5.05% isn't bad.
Do you have children, sscutcen?
Yes. My son just finished his freshman year at UTexas, electrical/computer engineering.
My daughter will be a senior in high school. 3 yr varsity volleyball and National Merit Scholar commended student. We'll find out in September if she becomes a National Merit Scholar.
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about 8k of my taxes went (or will be going) to Iraq.
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how is this pertinent to helping?
we can all 'read into' this that for some reason you came here to this country and are now complaining about it.
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[quote sscutchen][quote DharmaDog]No, savings aren't really an investment. I didn't mean to imply that, but they are necessary. And 5.05% isn't bad.
Do you have children, sscutcen?
Yes. My son just finished his freshman year at UTexas, electrical/computer engineering.
My daughter will be a senior in high school. 3 yr varsity volleyball and National Merit Scholar commended student. We'll find out in September if she becomes a National Merit Scholar.
Congrats!
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I'm turning the corner and heading into what I had hoped would be the last 10-15 years or my working life. I put away 4K in a Roth, about 8K in another tax advantaged account, make the maximum contribution to my retirement plan, plus a pittance in index funds. I don't contribute to or am I eligible for social security. I have no credit card debt, or installment loans. I am about $80,000 short of where I need to be to retire in 15 years at 75% of my estimated
