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12-22-2022, 05:19 PM | #13276 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Quote:
Oh back in the 80's I put some money in a 15% CD and it's coming out now... My ****ing brain exploded all over my damned basement. WTF? 15%? If anyone took a picture of my face I'm sure it'd be a meme today. I'm trying to remember. I think I told him to pay off all debt.... Don't have any... Well, I'd stick it in an ETF. So I had to ask him how the hell he got a CD a 15%. Like ****ing seriously. He said, yeah, I scraped together every nickel I could scrounge and stuffed it in there. I needed the money (obviously he didn't - see the no debt comment), but I didn't figure I could get 15% on the farm (I think he did but he isn't doing any math and I didn't argue). 15%..... |
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Posts: 57,744
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12-22-2022, 06:47 PM | #13277 | |
Seeking the Truth daily
Join Date: Jan 2006
Location: In the Country in MO
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Quote:
I was living in Denver, my son was a baby (41 now) And I got a check from the company for moving expenses a couple months before. I called the broker I had an account with and said I had a few grand to sock away. He said call your bank...I stoped at bank that afternoon and got a 12 mo CD for 16.5% That year, operating loans from Farm credit hit a max of 22% for a few days, most operating loans were 15-17% Jimmy Carter was President. |
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Posts: 53,839
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12-22-2022, 07:41 PM | #13278 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Quote:
Times of change are times of opportunity. In all seriousness, it seems like a 99.9 percent winner to buy some long-term CDs now if we can get 5 percent or more. It seems like the Fed is really intent on getting inflation back down to 2 percent or so. Right? |
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Posts: 142,752
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12-22-2022, 08:28 PM | #13279 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Quote:
From what I've read they're planning on raising it again. I saw a headline (admittedly didn't read the article) that inflation is over and the fed is dumb for continuing to raise it. I read somewhere that the Fed Chairman like worships at the alter of Volker, so who knows. |
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Posts: 57,744
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12-22-2022, 11:21 PM | #13280 |
George Brett shit his pants
Join Date: Apr 2006
Location: At the Bellagio
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Where can I get 5%?
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Posts: 48,630
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12-22-2022, 11:23 PM | #13281 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Posts: 57,744
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12-23-2022, 12:04 PM | #13282 |
Starter
Join Date: Aug 2019
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Anyone been tucking any money into I bonds the last year?
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Posts: 545
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12-23-2022, 12:11 PM | #13283 |
Banned
Join Date: Sep 2022
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Posts: 86
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12-23-2022, 01:34 PM | #13284 | |
Starter
Join Date: Aug 2019
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Quote:
So, I hope these calculators are correct, but I guess time will tell. Anyone willing to share percentages they direct towards retirement savings accounts? |
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Posts: 545
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12-23-2022, 02:18 PM | #13285 |
Fish are scared of me
Join Date: Nov 2001
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Ain't no friggin way I'd tie up money for 5% a YEAR.
Or even 50% a year Not if you have time to trade. |
Posts: 40,808
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12-23-2022, 02:36 PM | #13286 |
George Brett shit his pants
Join Date: Apr 2006
Location: At the Bellagio
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Ya but then I have to read the wall street journal or something or pay some guy 30k a year to manage my shit...with no guarantee it will even increase. There is peace of mind in knowing you will just get it for sure.
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Posts: 48,630
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12-23-2022, 02:48 PM | #13287 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Posts: 142,752
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12-23-2022, 02:49 PM | #13288 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Posts: 142,752
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12-23-2022, 04:29 PM | #13289 | |
Veteran
Join Date: Dec 2019
Location: Ohio
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Posts: 1,817
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12-24-2022, 05:23 PM | #13290 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Quote:
It sounds like you're doing great. Starting right out of college is huge and it's part of what I missed. I didn't start my career until I was 26 and then didn't start investing heavily until my early 30's, so I am a bit behind in terms of compounding interest years. If you plan to live a similar lifestyle in retirement to your current, then 15-20% of your income should accomplish that if you give yourself decades to invest. A ROTH is huge and something I'm always doing too. I put 15-20% of my income into retirement accounts. I just started a ROTH 401k in addition a standard ROTH IRA. I am trying to build a large tax-free investment vehicle for retirement so my taxable income in retirement can be fairly low. I still wonder what Social Security will bring for me (or not at all!) in my retirement plan. I plan it at $0 because I don't believe in the system lasting, but if I actually do collect my calculated SS amount, I'd be golden in retirement. |
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Posts: 46,095
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