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Money Markets-WTF!

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  1. bluefin bluefin is offline

    Apo, AE
    United States

    Posts: 897
    Joined: Feb 07

    Apr 7th, 2010 (4/7/2010 3:09pm)

    So just got my latest statement for my Vanguard money market account. I got paid a whopping .35 dividend on $44k. Just sickening.

    I am a little anal and overly cautious, so I keep a large cash reserve because my employment is not really stable right now. But .35 cents, come on.

    2 years or so ago, I was making about $75 on 15-20k. Scary stuff.
  2. Niceguy Niceguy is offline I will find you.

    NV
    United States

    Posts: 18,944
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    Apr 7th, 2010 (4/7/2010 3:12pm) in reply to bluefin

    even a bank of america savings account gets you more than that.
  3. MikeD84 MikeD84 is offline

    Newington, CT
    United States

    Posts: 54
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    Apr 7th, 2010 (4/7/2010 3:16pm) in reply to bluefin

    ING direct is the way to go. 1.10% not a hell of a lot, but much better then most other savings accounts.
  4. Denty Denty is offline

    Silver Spring, MD
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    Apr 7th, 2010 (4/7/2010 3:16pm) in reply to bluefin

    be a man and invest in mutual funds. i made a cool $2k on a 25k investment over about 9 months during 2007. 3 funds each made a little over a grand while one (surprise, my specialty real estate mutual fund) lost money. just research money magazine and double check everything they advise with some of the tools available online. schwab was awesome with all the research capabilities on their site.

    edit- and how much of that 44k do you need? can you lock up even 5k in a CD? shit, even putting $100 in a CD will average you more than .35 quarterly, probably even monthly
     
  5. salesbeast salesbeast is offline

    Ladner
    Canada

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    Apr 7th, 2010 (4/7/2010 3:24pm) in reply to bluefin

    USD is at par with Canadian $ now and economists are predicting a USD trading at .85-.90c which shows the weakness in the US economy these days. I would not by anything American and look at high interest savings accounts like ING. And lol at your ROI you can get a GIC that pays more and have 0 risk.
  6. dodgingjets dodgingjets is offline

    Oman

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    Apr 7th, 2010 (4/7/2010 3:27pm) in reply to bluefin

    Sick brag.

  7. skisteve skisteve is offline 2008-2009 Thread Killer Champ

    French Polynesia

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    Apr 7th, 2010 (4/7/2010 3:44pm) in reply to bluefin

    Pretty sick. I remember hitting 7% in my fidelity money market during the internet era. I don't even look at that Rate anymore. Of course the benefit is you can jump in on the bottom of big market corrections and make a killing quick having it right there.
    Come on, my mutual funds alone got me 18% off the 10% correction bottom when I pushed it in from cash. (couldve been alot more if I stayed in past the healthcare vote. Fk you cramer.) there's no reason to not make something above inflation rates at some point during the year. It's mindbottling. Make your money and go back to cash if you want. Sigh.
  8. bluefin bluefin is offline

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    Apr 7th, 2010 (4/7/2010 3:47pm) in reply to Denty

     
    Originally Posted by Denty View Post

    be a man and invest in mutual funds. i made a cool $2k on a 25k investment over about 9 months during 2007. 3 funds each made a little over a grand while one (surprise, my specialty real estate mutual fund) lost money. just research money magazine and double check everything they advise with some of the tools available online. schwab was awesome with all the research capabilities on their site.

    edit- and how much of that 44k do you need? can you lock up even 5k in a CD? shit, even putting $100 in a CD will average you more than .35 quarterly, probably even monthly

    Technically, I don't need any of the 44k. It's all cash reserve. I just feel more comfortable having it at my disposal. I will look into CD's, but even they aren't earning a whole lot. As soon as my employment stabilizes, I plan on taking about 20k out to move somewhere else. I'm just paranoid. I truly beleive we are going into the slammer again.
    Thread Starter
  9. tkeat1653 tkeat1653 is offline

    Philadelphia, PA
    United States

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    Apr 7th, 2010 (4/7/2010 3:56pm) in reply to bluefin

     
    Originally Posted by bluefin View Post

    Technically, I don't need any of the 44k. It's all cash reserve. I just feel more comfortable having it at my disposal. I will look into CD's, but even they aren't earning a whole lot. As soon as my employment stabilizes, I plan on taking about 20k out to move somewhere else. I'm just paranoid. I truly beleive we are going into the slammer again.

    Avg CD's int rates are shitty right now. Unless you were to lock it up for 3 or 5 years whats the point?
  10. Stockage Stockage is offline

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    Apr 7th, 2010 (4/7/2010 4:01pm) in reply to bluefin

    Miss Stockage rolled a cd this morning. 24 months at 2%.
  11. skisteve skisteve is offline 2008-2009 Thread Killer Champ

    French Polynesia

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    Apr 7th, 2010 (4/7/2010 4:06pm) in reply to bluefin

    Quite possible. Commercial real estate is possibly going to be a tarp one day. Of course we will have already redirected the tarp money elsewhere so it's useless at that point. Congress is always looking ahead in our best interests. (rolls eyes)
    I'm not sold all is well yet despite corporate earnings. You can already get 2 months free on a one year lease for commercial and more with more months on the lease. It's ridiculous. It takes time for those issues to roll around and a tually be a problem to the rest of us. Maybe by the end of the year. Unless people start renting and raising rates lol. That's about as likely as unemployment getting back to normal rates this year.
    btw a cd is safer if mmf somehow collapsed you're protected in the cd. Technically. If your country isn't broke. So there's that.
  12. bluefin bluefin is offline

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    Apr 7th, 2010 (4/7/2010 4:18pm) in reply to bluefin

    The only reason I can see that the stock market has rebounded in this manner is the bubble created by governement spending. And that is what scares me. They need to stop what their doing. What's the spending du jour now, dollars for dishwashers or some nonsense.
    Thread Starter
  13. Mr Galt Mr Galt is offline sister-in-law's a ho

    Overland Park, KS
    United States

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    Apr 7th, 2010 (4/7/2010 4:44pm) in reply to bluefin

    when inflation gets rolling you'll be earning 12% but your buying power will be worth half of what it is today. everything is relative.
  14. SaulGood SaulGood is offline SPAGETT

    Las Vegas, NV
    United States

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    Apr 7th, 2010 (4/7/2010 4:47pm) in reply to Mr Galt

    my first try at a CD $1000 for 6 months is gonna get me one cent.
     
  15. rocket5 rocket5 is offline

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    Apr 7th, 2010 (4/7/2010 5:14pm) in reply to bluefin

     
    Originally Posted by bluefin View Post

    The only reason I can see that the stock market has rebounded in this manner is the bubble created by governement spending. And that is what scares me. They need to stop what their doing. What's the spending du jour now, dollars for dishwashers or some nonsense.

    This makes very little sense. If your opinion is that it's a bubble then there are plenty of ETF's you can buy that will short the market for you. If that is what you think....

    My guess is that it goes sideways for the rest of the year. Everything in the "market" gets priced in early. The public goes with the flow and is usually wrong because they are late to the game.

    Again, if your opinion is that this is a bubble and a crash is coming(again) then bet now against the market. Terrorist attack(comparable to 911) and you win.... EZ game right.

    Subprime losses.... Banks and insurance companies already took their hit. If the gov't didn't step in and LOAN!!!!!!! these companies money then you would probably really have something to bitch about if your internet still worked.
  16. bluefin bluefin is offline

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    Apr 7th, 2010 (4/7/2010 5:22pm) in reply to rocket5

     
    Originally Posted by rocket5 View Post

    This makes very little sense. If your opinion is that it's a bubble then there are plenty of ETF's you can buy that will short the market for you. If that is what you think....

    My guess is that it goes sideways for the rest of the year. Everything in the "market" gets priced in early. The public goes with the flow and is usually wrong because they are late to the game.

    Again, if your opinion is that this is a bubble and a crash is coming(again) then bet now against the market. Terrorist attack(comparable to 911) and you win.... EZ game right.

    Subprime losses.... Banks and insurance companies already took their hit. If the gov't didn't step in and LOAN!!!!!!! these companies money then you would probably really have something to bitch about if your internet still worked.

    I'm not really looking to get in anything too market related at this point. It's all a shell game.

    It can be debated all day whether or not TARP saved us from going back to living in caves.
    Thread Starter
  17. rocket5 rocket5 is offline

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    Apr 7th, 2010 (4/7/2010 5:55pm) in reply to bluefin

    Fair enough. I certainly don't want to debate here but my point is very very simple. If you think the market is overvalued right now.... You can bet against it very easily. GL.
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