Life Savings
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Thread: Life Savings

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    Question Life Savings

    What would you do if you had several thousand dollars and this is your life savings besides your 401K? Safe Deposit Box? Safe in your home? Invest it?

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    Registered User nodmicks's Avatar
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    A few thousand would stay liquid in a money market.

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    I have my life savings spread across several different types of accounts. If someone handed me a couple of thousand dollars right now, I'd probably just keep it in a vanilla savings account, but that's very situation dependent.

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    what is a vanilla savings account?

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    vanilla saving is normally referring to normal saving account.

    Scott

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    A tax free savings account.

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    Like Nadders I would put it in a tax free savings account

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    I would certainly keep a few grand hidden away in cash at home. cash is king!

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    I agree that I would keep it liquid, also probably in a savings account. I think it's important to be able to easily access some savings if necessary. You can't do that with funds tied up in retirement accounts.

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    It would probably be in a normal savings account.

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    I thought you wrote several hundred thousand.. not several thousand. I was daydreaming what I could do with that money. Several thousand.. (3000) I would just keep it in the house for a rainy day.

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    Quote Originally Posted by Ali Lee View Post
    I thought you wrote several hundred thousand.. not several thousand. I was daydreaming what I could do with that money. Several thousand.. (3000) I would just keep it in the house for a rainy day.
    Cash is king....rainy or sunny
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    I keep most of my savings in Ally bank. I have a savings account there attached to my local credit union checking account, so I can transfer money when I need to. You might look into that or a similar bank. They pay around .80 interest right now, which is probably better than your local bank or credit union.

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    Like your style Niko

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