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#1
06-25-2007, 11:54 AM
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% how much of savings should you invest
Current situation:
Own a home Don't expect any major purchases any time soon Wife and I have nice jobs and don't really dip into savings much. We both have 401K and we put in enough for company match Right now I have less than 15% invested in the market. I do have an emigrant savings and a regular bank savings. It seems I'm turning away free money especially in my regular bank savings account. I guess I just feel more secure with my money in my regular bank and not in an online savings account. Although I do have about 30% of my savings in Emigrant. Stupid not to invest more in the market or bonds/cds etc? Stupid not to at least have the majority of my savings in Emigrant not my regular bank savings account earning probably less than 2%? Were not talking about a 100k or anything sitting in my savings but it is an amount that could earn an extra 1k-2k if I put more of my money in a CD/Emigrant/ etc.... 
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#2
06-25-2007, 12:07 PM
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Re: % how much of savings should you invest
Check out COUNTRYWIDE.....there probably is an office near you and they offer 5.25% on savings accounts. If you want to withdraw the money at any time you just go to one of their brances and they send you a check in 3-5 business days.
I love them and highly recommend them. If you have 50,000 to invest, they offer 5.4% on savings.
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#3
06-25-2007, 12:09 PM
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Re: % how much of savings should you invest
By the way, the withdrawls are absolutely free.
Again, I'm overly pleased with Countrywide Financial. Check out their website if you get a chance.
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#4
06-25-2007, 06:32 PM
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Re: % how much of savings should you invest
You should keep 6 months of bare bones living expenses in an interest bearing savings account like Emigrant Direct or CountryWide. Sock more away if you are worried about your job for some reason.
Invest the rest. Diversify with stocks and bonds.
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#5
06-25-2007, 06:34 PM
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Re: % how much of savings should you invest
Diversification is the key
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#6
06-25-2007, 06:38 PM
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Re: % how much of savings should you invest
ing, etc are fdic-insured, so just as safe as your local bank; they do have offices/branches in some places
u should DEF have your money in there over your reg savings account...u can get ur money transferred electronically within 3 days, so it's not like it's far apart; if u need money faster, use credit cards and then transfer money over to pay them before they are due
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#7
06-25-2007, 06:54 PM
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Re: % how much of savings should you invest
[ QUOTE ]
You should keep 6 months of bare bones living expenses in an interest bearing savings account like Emigrant Direct or CountryWide. Sock more away if you are worried about your job for some reason. Invest the rest. Diversify with stocks and bonds. [/ QUOTE ] Yeah seriously how is this not standard?
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#8
06-26-2007, 01:28 AM
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Re: % how much of savings should you invest
It's not stupid to do whatever makes you feel comfortable and safe. That being said, you may be missing out on a lot of free money and opportunity. I would definitely invest it if I were you, and also move the money to emigrant direct.
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#9
06-26-2007, 12:18 PM
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Re: % how much of savings should you invest
Sounds like you have a good problem. If you're not comftorable with money in an online savings account you can probably find a brick and mortar bank nearby that offers high interest rate savings, you still may need to sign up online. Three examples off the top of my head are HSBC, Citibank and WaMu. They're everywhere, you should be able to find one close to you.
I keep a decent chunk of my savings in my Citibank account and a larger portion in whatever online savings is leading the pack. In case of an emergency I can still run to the bank and get cash if I need it, and I'm still getting a good interest rate. Another option if you're not comftorable investing your money is a financial planner. Some of them are scum though so do some research into what they are offering you, check back in here. There should be enough advice on this board to get you comftorable at least investing a little for yourself.
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#10
06-26-2007, 12:52 PM
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Re: % how much of savings should you invest
You may want to check out the discussion in this thread. I didn't mention it earlier because the threads were going in different directions and I didn't want to stop that. I believe the consensus is going towards you should have all of your money in the market.
However, you should not put more in than you feel comfortable with. You need to avoid the situation where the market takes a dip, you panic and pull your money out. However much you think you can stomach is something that only you can answer. For the rest of the money everyone in this thread seems to be right on (get it into a high yield savings account).
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