I currently have retirement for myself, but looking for somewhere to begin a retirement account for my wife. I've been looking at high interest savings accounts, but the highest interest I can find is like 1.4%. Anyone have any advice on different places to look or other services to check out?
Retirement Planning
- Thread starter bayside
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komanfisher
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LAST EDITED ON Jan-11-13 AT 10:50PM (MST)[p]Wall Street wagering is the only thing I've been able to find that's been better than 1.4%. Of course, it's called wagering for a pretty darn good reason. You could end up funding someone else's retirement! Same goes for Bond funds.
I'll be watching the feedback you get because I've asked the same question everyday for the last five years.
I'll be watching the feedback you get because I've asked the same question everyday for the last five years.
You should invest in my new business, "Steve's House of non-assualt weapons and 29 round clips". All my AR-15's will be made with wooden stocks and fore-ends and will not have a single black part on them. They also will come with a free 29 round clip. I have a feeling they will soon become very popular. It's a sure bet.
On a serious note, start putting money in IRA.
On a serious note, start putting money in IRA.
desertbonehunter
Active Member
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Fidelity is good, you either have to start with like $3k or agree to auto withdraw a certain amount each month if you did have the $3k (or whatever it is) to start, I cannot remember what their general savings % is, but you could invest in some pretty secure growth stock mutual funds and get real good returns. Another option is the Hartford, and just there General Savings where your money is 100% safe is like 4 or 5%
BPKHunter
Very Active Member
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- 1,749
Does your wife work(have earned income)? Does she have a work plan she can contribute to?
If not, have you maxed out your's?
If not, then there is not much of a benefit to doing it seperately, unless she is older.
While there are ton's of opinion's if you plan to invest long-term, over 5 years, then just use a No Load Fund family and start with an S&P 500 index fund. Once you get $10k, then diversify properly, most Mutual Fund's can help you determine that mix.
Feel free to PM if you are actually interested in more info. I am a Commercial Loan Officer today and don't sell investments, but I spent 8 years as a Licensed Investment Advisor from 1998 to 2005, so I can help.
PS Any savings or CD is earning less than the rate of inflation so you will actually lole ground, and bonds will go down if interest rates head back up, and they are at historical lows, so beware trying to go the "safe" route.
If not, have you maxed out your's?
If not, then there is not much of a benefit to doing it seperately, unless she is older.
While there are ton's of opinion's if you plan to invest long-term, over 5 years, then just use a No Load Fund family and start with an S&P 500 index fund. Once you get $10k, then diversify properly, most Mutual Fund's can help you determine that mix.
Feel free to PM if you are actually interested in more info. I am a Commercial Loan Officer today and don't sell investments, but I spent 8 years as a Licensed Investment Advisor from 1998 to 2005, so I can help.
PS Any savings or CD is earning less than the rate of inflation so you will actually lole ground, and bonds will go down if interest rates head back up, and they are at historical lows, so beware trying to go the "safe" route.
