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View Poll Results: Should i start a savings account?
Yes 26 61.90%
No 3 7.14%
Depends how fine this booty is at the checkout. 13 30.95%
Voters: 42. You may not vote on this poll

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Old 10-12-2012, 01:55 PM #85
Subterfuge
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Old 10-12-2012, 02:06 PM #86
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I AM poor, but I make the most of it.
More fun, less stress, fewer worries (usually). But I hear money makes up for all that
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Old 10-12-2012, 03:06 PM #87
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Originally Posted by Subterfuge View Post
If there was a war between USAA customers and ING customers, USAA would win!

A realistic amount to earn is 6-7%. 12% and the business is expanding too fast.

$401,000 at 7% is $28,070; more than I make in a year.
Is USAA only for military soldiers?
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Old 10-12-2012, 04:16 PM #88
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Subterfuge,

Aren't you active military?
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Old 10-12-2012, 05:29 PM #89
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mo money mo problems





HA yeah right
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Old 10-12-2012, 06:46 PM #90
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This is honestly the most retarded thread I have seen a while. I have had a savings account sense I was like 10, and I opened a checking account with a debit card when I was 16. I put a portion of my check each week into my savings and hope that I have enough in checking to get me by that week so I don't have to withdrawal.

Choose the savings account with the highest interest possible. However you really wont see any gains. A few dollars here and there really wont make or break you. The real benefit of the savings account is for you to save your money and track your spending wisely.

Add regularly to your savings and Don't allow yourself to withdrawal from it (unless you have to) and over the course of a few years you will notice serious gains and will be able to buy something of substantial value (house, car, hookers etc)
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Old 10-12-2012, 09:08 PM #91
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**** that I might be dead in a few years then I just saved all that money for no reason I'm trying to enjoy what I'm working for. Im gonna spend all my money every week and ain't saving **** other than my 401K.

Edit: plus were all gonna die in like 2 months anyways.
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Old 10-12-2012, 10:35 PM #92
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Originally Posted by byarosh201
**** that I might be dead in a few years then I just saved all that money for no reason I'm trying to enjoy what I'm working for. Im gonna spend all my money every week and ain't saving **** other than my 401K.

Edit: plus were all gonna die in like 2 months anyways.
How much does an 11 year old like you make? 10 dollars a week? What benefits come with that job, Xbox live? But anyways yea yolo swag titties boobs anus lets spend all our money on code red Mountain Dew swag yolo
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Old 10-12-2012, 10:37 PM #93
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sound like 47% of americans! don't worry, there will be the social safety net to cover your old ***'s retirement living and medical expenses once you stop contributing to the economy.


trollolililolol
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Old 10-12-2012, 10:45 PM #94
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Originally Posted by fromsnake

How much does an 11 year old like you make? 10 dollars a week? What benefits come with that job, Xbox live? But anyways yea yolo swag titties boobs anus lets spend all our money on code red Mountain Dew swag yolo
I wish I could go back to being 11 way less headaches. The only reason I have a bank account is to pay my bills otherwise cash is king in my book.

I won't discuss salary but I'm well off I have full medical benefits including eye and dental with minimal pay deduction. A 401k plan with company profit sharing that matches 50% up to 6%, including day 1, 100% fully vested. Life insurance that pays off my salary for 2 years to my beneficiary.

I drive a brand new truck and I'm on my way to having a down payment on the house I'm currently renting to buy from my landlords. So at 21 years old I think I'm still doing better than you with your fancy savings accounts and bull**** economic knowledge.
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Old 10-12-2012, 10:59 PM #95
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Sounds like your doing good.

Thanks for the advice. I went and dropped a grand into my savings account today. I asked the interest rate and he said it was horrible at the moment.

.1% is what he said i was like wtf.....
i'm not sure why im putting my money into bank of america. I should just open and online banking account but not sure... feeling lazy right now.
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Old 10-13-2012, 02:52 AM #96
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Quote:
Originally Posted by byarosh201

I wish I could go back to being 11 way less headaches. The only reason I have a bank account is to pay my bills otherwise cash is king in my book.

I won't discuss salary but I'm well off I have full medical benefits including eye and dental with minimal pay deduction. A 401k plan with company profit sharing that matches 50% up to 6%, including day 1, 100% fully vested. Life insurance that pays off my salary for 2 years to my beneficiary.

I drive a brand new truck and I'm on my way to having a down payment on the house I'm currently renting to buy from my landlords. So at 21 years old I think I'm still doing better than you with your fancy savings accounts and bull**** economic knowledge.
cool ****ing story brooooo
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Old 10-13-2012, 07:52 AM #97
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Quote:
Originally Posted by byarosh201

I wish I could go back to being 11 way less headaches. The only reason I have a bank account is to pay my bills otherwise cash is king in my book.

I won't discuss salary but I'm well off I have full medical benefits including eye and dental with minimal pay deduction. A 401k plan with company profit sharing that matches 50% up to 6%, including day 1, 100% fully vested. Life insurance that pays off my salary for 2 years to my beneficiary.

I drive a brand new truck and I'm on my way to having a down payment on the house I'm currently renting to buy from my landlords. So at 21 years old I think I'm still doing better than you with your fancy savings accounts and bull**** economic knowledge.
lol
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Old 10-13-2012, 10:07 AM #98
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Originally Posted by AlienBoy View Post
Sounds like your doing good.

Thanks for the advice. I went and dropped a grand into my savings account today. I asked the interest rate and he said it was horrible at the moment.

.1% is what he said i was like wtf.....
i'm not sure why im putting my money into bank of america. I should just open and online banking account but not sure... feeling lazy right now.
Not sure why you are using BoA either...

But you are on the right path at least which is more than I can say for most. Keep adding to your savings till you hit $8,000 and then pull half and invest in Roth IRA (you don't have lots of money so the advantage of the Roth is you can borrow against the interest {which won't be much for a while} if you need to or you can count it as net earnings for getting a lower interest rate on a loan).

When you do your IRA I would look at your 401K from your work first, more than likely it is in mutual funds and then diversify your IRA mutual funds against your work 401K. So if your work 401K is in large cap, and mid growth put your IRA in to small growth, international, and mid cap.

Good luck.
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Old 10-13-2012, 10:18 AM #99
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Originally Posted by byarosh201 View Post
I wish I could go back to being 11 way less headaches. The only reason I have a bank account is to pay my bills otherwise cash is king in my book.

I won't discuss salary but I'm well off I have full medical benefits including eye and dental with minimal pay deduction. A 401k plan with company profit sharing that matches 50% up to 6%, including day 1, 100% fully vested. Life insurance that pays off my salary for 2 years to my beneficiary.

I drive a brand new truck and I'm on my way to having a down payment on the house I'm currently renting to buy from my landlords. So at 21 years old I think I'm still doing better than you with your fancy savings accounts and bull**** economic knowledge.
I like the fact that you use cash to play for things, it helps reduce impulse buying, but if you look at the stastics your faith in just your 401K being enough is misplaced.

Do the math sometime based on how much you are putting in, how long you plan to work, then divide it by how long you expect to live * 1.15 divided by 12 for a per month income. Don't forget inflation will raise your current expensense 4-8% and you will have pay for your own health insurance $300-600 per month.

If your 401K is enough than let it roll but for most people its not. Only they don't realize that till its WAY to late.

I have friends that are just like you when we were 21 they thought the same way and coun't understand why I was saving. 20 years later they are wishing they would have done more.
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Old 10-13-2012, 10:40 AM #100
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Originally Posted by bcelos View Post
This is honestly the most retarded thread I have seen a while. I have had a savings account sense I was like 10, and I opened a checking account with a debit card when I was 16. I put a portion of my check each week into my savings and hope that I have enough in checking to get me by that week so I don't have to withdrawal.

Choose the savings account with the highest interest possible. However you really wont see any gains. A few dollars here and there really wont make or break you. The real benefit of the savings account is for you to save your money and track your spending wisely.

Add regularly to your savings and Don't allow yourself to withdrawal from it (unless you have to) and over the course of a few years you will notice serious gains and will be able to buy something of substantial value (house, car, hookers etc)
TL: DR
Oh and talk about retarded, I didn't know sense was the same as since.
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Old 10-13-2012, 12:09 PM #101
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Originally Posted by AlienBoy
Sounds like your doing good.

Thanks for the advice. I went and dropped a grand into my savings account today. I asked the interest rate and he said it was horrible at the moment.

.1% is what he said i was like wtf.....
i'm not sure why im putting my money into bank of america. I should just open and online banking account but not sure... feeling lazy right now.
ING
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Old 10-13-2012, 12:25 PM #102
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Quote:
Originally Posted by byarosh201 View Post

I won't discuss salary but I'm well off I have full medical benefits including eye and dental with minimal pay deduction. A 401k plan with company profit sharing that matches 50% up to 6%, including day 1, 100% fully vested. Life insurance that pays off my salary for 2 years to my beneficiary.

I drive a brand new truck and I'm on my way to having a down payment on the house I'm currently renting to buy from my landlords. So at 21 years old I think I'm still doing better than you with your fancy savings accounts and bull**** economic knowledge.
im 19 and i drive a brand new Ferrari, GOML
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Old 10-13-2012, 02:01 PM #103
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im 19 and i drive a brand new Ferrari, GOML
#vegas#groat#lies#sincity
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Old 10-13-2012, 02:23 PM #104
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Originally Posted by bowgster

im 19 and i drive a brand new Ferrari, GOML
Oh. I forgot to tell you about the Lamborghini and Porsche in my garage.
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Old 10-13-2012, 02:30 PM #105
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Subterfuge,

Aren't you active military?
I used to be...
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