Certificats of Deposit

[RSKY]

Okay, I'm gonna do something here that I have said I would not do. Gonna give advice that is probably good but........

The market is down, I have lost my A$$ the past couple months. I did something stupid knowing better all the time. I have about 25% of my savings in mutual funds. They rate funds over spans of year to date, one year, three years, five years, ten years, and life of fund. One Fidelity fund has been their top earner over spans of ten years, five years, one year, and year to date. Over the past ten and five year spans it has been the highest earner of the 9440 funds offered by all companies. I bought into it when it was high and the price has dropped by around 20%. I mean I took everything out of the other funds I held and that is the only one I am invested in now. I don't really know and not going to look at how much I have lost. BUT, you don't actually loose it until you cash it! So I am holding it knowing that it will come back eventually. It always does. And at 69 I am young enough to wait.

My point is that while the market is down it is a good time to buy into mutual funds.

If I had invested $10,000 in that fund ten years ago it would have reached a peak of $102,000 in July of this year. It would now be down to $82,000.

But it will come back. Even the IRA that Fidelity manages for me in a 'safe' way has lost about 5% since July. This is the first time since 2015 that it has lost. But it will come back.

I know I am being long winded but I retired at 57 upon taking advice from some very smart people. That advice was to put money in the market when everybody is talking doom and gloom and take money out when the market is going up like crazy. So I am passing that same advice on to y'all.

RSKY being Mr. Know It All again.

 

[gstrom99]

Ha, ha, ha. My bank just started sending me dormant notices on a savings account. I pulled out money just before they paid some measly interest. I guess I should transfer it to a checking account before the state gets it. I'm 73. I have some set aside for an emergency, but I just decided to spend money where and when I want. When my number is up, no one will have to fight over the money.

Don't you have a bank account that (if you're getting) Medicare goes into? Just put it all there and keep it simple. My bank has an "upon death, the $ goes to..." (my daughter was my choice). No fighting over anything needed.

 

[LittleBill21]

Okay, I'm gonna do something here that I have said I would not do. Gonna give advice that is probably good but........

The market is down, I have lost my A$$ the past couple months. I did something stupid knowing better all the time. I have about 25% of my savings in mutual funds. They rate funds over spans of year to date, one year, three years, five years, ten years, and life of fund. One Fidelity fund has been their top earner over spans of ten years, five years, one year, and year to date. Over the past ten and five year spans it has been the highest earner of the 9440 funds offered by all companies. I bought into it when it was high and the price has dropped by around 20%. I mean I took everything out of the other funds I held and that is the only one I am invested in now. I don't really know and not going to look at how much I have lost. BUT, you don't actually loose it until you cash it! So I am holding it knowing that it will come back eventually. It always does. And at 69 I am young enough to wait.

My point is that while the market is down it is a good time to buy into mutual funds.

If I had invested $10,000 in that fund ten years ago it would have reached a peak of $102,000 in July of this year. It would now be down to $82,000.

But it will come back. Even the IRA that Fidelity manages for me in a 'safe' way has lost about 5% since July. This is the first time since 2015 that it has lost. But it will come back.

I know I am being long winded but I retired at 57 upon taking advice from some very smart people. That advice was to put money in the market when everybody is talking doom and gloom and take money out when the market is going up like crazy. So I am passing that same advice on to y'all.

RSKY being Mr. Know It All again.

you should be dcaing, they always say timing is bad...

 

[EddieWalker]

Interesting thread!!!!

 

[NoTrespassing]

Interesting thread!!!!

Yea, my better half suggests spending to reduce the checking account. She would like a new couch and refrigerator and I say both work just fine, so what if I have to kick the bottom of the fridge door to close it or the couch is falling apart, it's still comfortable.

 

[murphy1244]

I have third federal in Ohio and my bank will roll over to the next term rate.
If I had a 1 year term I would get whatever rate that was for a 1 year term.
So this year mine rolled over to a 5.26 for another year. I also scatter accounts to every 3
months a new one comes up.

 

[NoTrespassing]

I have third federal in Ohio and my bank will roll over to the next term rate.
If I had a 1 year term I would get whatever rate that was for a 1 year term.
So this year mine rolled over to a 5.26 for another year. I also scatter accounts to every 3
months a new one comes up.

That's what I was looking for originally.

 

[MoKelly]

Market way up today - all on good inflation news and belief Fed will begin to lower rates in 2024. Analysts are moving in that direction.

Keep an eye. If true, we may be seeing the peak in CD rates. Which, to me, would mean locking in longer terms than what I have been doing the last year.

 

[CloverKnollFarms]

I thought the Fed recently indicated they don't think they have gone far enough to curb inflation. I do think we have neared peak APY for CDs

 

[MoKelly]

I thought the Fed recently indicated they don't think they have gone far enough to curb inflation. I do think we have neared peak APY for CDs

Fed said they weren’t sure. But, the market wants this over and celebrates any positive news showing inflation is getting under control.