Quote:
Originally Posted by lewdog
If they offered rates like that for saving, we'd all be rich! It's not even close to that simple though. You might want to read/google some basic savings 101 information.
You aren't guaranteed set rates unless it's a savings account or a CD. Savings accounts earn next to nothing (<1% interest). CDs maybe 1-2% but many require a fairly large deposit.
All other options for 5%+ are related to investing and returns are not guaranteed. In these options you theoretically could lose the money you put in or make absolutely nothing. Do you have any retirement options through your employer?
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Well I clearly saw that wrong. I think I got the rates from investing caught in with the others.
Here's what I've got.
-401k-6% employer match. Roughly 40k in so far.
Thinking of adding more myself by adding 1-2% from my check on top of the 6%.
-Roth IRA. Got that in January and have checked it twice. No big movement really.
-Investing: I've thought about this a lot but haven't committed yet. Obviously I would choose a dividend stock, but haven't been sold on one yet. I've thought about safe stocks like AT&T and Coca Cola but am not sure that they are good long term stocks.
I've thought about wanting something that people will still buy even in bad times. That led me to think of Unilever.