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CC Guest
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Posted: Mon Aug 08, 2011 3:35 pm GMT Post subject: Where should we save our money/down payment?(preserve value) |
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1) This will make you laugh and cry:
Drunken Ben Bernanke Tells Everyone At Neighborhood Bar How Screwed U.S. Economy Really Is:
http://www.theonion.com/articles/drunken-ben-bernanke-tells-everyone-at-neighborhoo,21059/
2) It really sucks! I just want to buy a house and focus on my own things, but they make the economy so bad now. Anyway, how do we save our money/down payment to preserve the buying power?
As someone suggested last time, I save some money in DanversBank, but the interest rate gradually became so low. Its started with 4% for $20k (more than that rate will be lower), and gradually turned so low. I didn't mind to calculate the exact rate, but I think it's probably around 1-2% if you have $60k or so.
I am thinking:
a. Open a Canadian dollars saving account.
Why bother the current rate, since US dollars will be worthless.... not to mention the inflation is much high than 2-4%. Canadian dollars account is very popular in Asia, but I am not sure if we have this option here.
b. Wait until the stock market stabilized and buy some quality stocks with good dividends.
Not sure this is a good idea. It's hard to time the market and it's the same problem, they are paying you worthless dollars.
c. I dont know..... Any suggestion?
PLEASE JOIN THE DISCUSSION! It's not just about our little down payments. It's very important to preserve our hard-earn money. |
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balor123
Joined: 08 Mar 2008 Posts: 1204
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Posted: Tue Aug 09, 2011 2:37 am GMT Post subject: |
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I have it parked in Ally Bank 5-year CDs. Only 2mo withdrawal penalty and 2-3% interest rates. |
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CC Guest
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Posted: Thu Aug 18, 2011 2:56 am GMT Post subject: |
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Thans, balor123! |
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