Author Topic: Now that I am out of debt!  (Read 1782 times)

Offline BIG-TARGET

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Now that I am out of debt!
« on: September 16, 2009, 04:03:29 PM »
And have listened to TSP,I have opened a savings account,squirreling away money, even started acquiring some silver(a little life assurance ;) ).
I was wondering, to keep me from "willy-nilly"spending my savings account, should look into a CD??  Basically, when my savings reaches a certain level, I put it into a 6 month roll over CD.

Good idea or sucky idea ???

Offline CGFxColoneill

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Re: Now that I am out of debt!
« Reply #1 on: September 17, 2009, 07:25:39 PM »
I like the idea... one thing you might want to look at is staggering the CDs so that some of the money becomes available on a regular basis depending on how many of them you have

for example if you have 4 of them you could time them so you have one term up every 3 months ( bit to far apart imo but it is an example) that way if you have something come up the money will not all be inaccessible for longer term

as I said every 3 months would be a bit to long for my taste but you have to find what works for you, also I am not an expert this is just what my dad and I have discussed that makes sense

Offline Stein

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Re: Now that I am out of debt!
« Reply #2 on: September 18, 2009, 09:23:35 PM »
CDs are bad news.  If you want to go that route, I would at least buy TIPS or I bonds.  Although they will monkey with the numbers you at least have a fighting chance.

Offline gpd240

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Re: Now that I am out of debt!
« Reply #3 on: September 18, 2009, 09:57:49 PM »
If you go the way of CD's or bonds remember that you are investing your money into paper/trust that, that money will be returned to you. Yes it is true that these are "stable" investment options, but would you really consider anything stable in our economy right now??? You mentioned Silver, have you looked into buying Gold, Land (even if you never visit the land you buy, it's yours and available if you need to go somewhere), Ammo, are you prepped the way you want to be... Just my 2 cents. 

Offline LdMorgan

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Re: Now that I am out of debt!
« Reply #4 on: October 07, 2009, 09:16:59 PM »
The problem with CDs is that the rate of return sucks wet dog fur.

If you want a good rate of return, buy more silver. It's rising a lot faster than interest rates, and it's pretty much immune to inflation, to boot.

The only thing worse than making 4% a year when the inflation rate is 9% is finally getting paid off in dollars that purchase 10% less than they did last year--including the dollars you bought the CD with.