All about loans - savings

Questions about the possible economic depression

Wed, 17 Sep 2008 05:06:49 +0000

Questions about the best course of action to prepare for a possible economic depression I'm no economist, but I'm trying to learn about the possible economic depression everyone's been talking about since the recent financial upheaval. I have a number of questions. 1. I have always read that there are huge bargains to be had when the stock market tanks. If this is so, what stops investors from jumping INTO the market when there is a huge crash? For example, why not invest in an index fund as soon as the market drops off 500 points? Why *wouldn't* this be a good idea for the individual investor (assuming it isn't).

A sensible saving plan for an uncertain international future?

Thu, 15 May 2008 15:10:04 +0000

PersonalFinanceFilter: 25 year old looking to start making payments into something pensionesque, but with an international bent. Any suggestions? I think it's time to start a pension (overdue, probably). I am British but have a Significant Other who has ties to three other countries, and feeling not a massive attachment to the UK, there's a reasonable chance that I won't be seeing out my days here. I earn about 25k a year before taxes. I'm living in London so there's not a massive amount left at the end of the month, but I'd like to start putting a little something by. So what do people advise? Would a regular British pension with a reputable company (Scottish Widows &c) be a good bet if I plan on disappearing from these shores in the next five, ten, fifteen, thirty years? Or might a regular/fancy savings account that isn't technically a pension but might operate like one (and still be around in ~50 years) be better for my situation?

FX gives me a headache

Fri, 15 Feb 2008 14:46:31 +0000

I am permanently moving from the US to Europe in about a month. I have about $50K in savings in HSBC high (and ever-falling) interest account. I am at a loss as to what to do with this money. Money-savvy Mefites, please come to the rescue. So I have all this money sitting in savings. For the next four months my salary will continue to be paid in dollars. I am a horrible, albeit charming, investment ignoramus. On one hand, I feel terrible about converting my savings to euros, on the other I don't know whether I want to leave my money in the States especially if the dollar is to further depreciate against the euro.

What to do with all that money?

Mon, 14 Jan 2008 23:41:59 +0000

I will soon receive an inheritance of about $100,000-$150,000 (numbers are vague right now). I'm looking for tips and advice for managing that money. I have talked with a financial advisor from one of the major firms about this and they would be happy to help me with my money at the rate of 4.5% per year. Frankly, I view that as extortionary. I even remember once hearing advice that said to not pay more than 1% in fees. This sounds reasonable to me. My current IRAs and other means of saving that do charge, charge less than 1%. I doubt it's 1/5th of a percent. I'm pretty sharp and generally good with money. I think that with the right research, and proper dedication, I can manage this money myself and save scads of fees.

Saving money in euros...

Fri, 02 Nov 2007 19:49:42 +0000

I keep all my savings in a Citibank e-savings account, which is like a regular savings account, only with a higher interest rate. Recently, the dollar has totally been tanking, and this trend doesn't show any signs of reversing. What's the easiest, safest, most profitable way for me to save my money in euros instead of dollars? This is what I like about the e-savings account : 1) My money is FDIC insured. 2) The interest rate is higher than that of a typical savings account. It's somewhere around 4.25%. 3) I can take my money out any time I want without incurring any kind of penalty.

Saving money in euros...

Fri, 02 Nov 2007 19:49:36 +0000

I love the car, but the car can't love me back.

Thu, 14 Jun 2007 00:00:53 +0000

Should I sell my car? Am I doing the math right? Ok, here's the deal. I'm in grad school, have approximately $5500 of credit card debt and a car that I owe about $4000 on. The car is a 2001 Toyota Prius in good condition, which the Blue Book says I could still sell for about $11,000. So if I sell it for that price, I'll be able to pay off the lien and have enough money left over to get rid of my credit card debt with about $1500 left over. I live in a town where, although I can mostly bike and walk, life would be much easier if I had a car that could at least get me to the grocery store. So the $1500 would go towards a cheap older car for local driving. (It's a college town, so there's always someone selling one as they move away.)

RESP...still don't know what it means for me

Tue, 30 Jan 2007 03:47:44 +0000

College savings: Does the government care how you spend a college savings plan in Canada? More than a year ago, I asked about registered educational savings plans . Now I'm wondering how the (Canadian) government regulates how you spend them. I understand when my child(ren) can withdraw the funds and that they have to be registered in a post-secondary program. But, aside from that, how does the government check to see what you spent the money on? I see that there's a $42,000 contribution limit over your child's lifetime. Let's say this grows to $78k. Tuition in, say, 2023, is $12k per year and my child needs a total of $50k to cover four years while living at home. My child also works at some internships and part-time jobs that cover, say, $24k of expenses. After they kick that in, there's around $50k left in the RESP. Heck, let's say there's even $25k left.

I'm 19 and hold down a decent job, what should I do with my excess money?

Mon, 03 Apr 2006 21:04:32 +0000

I'm 19 and hold down a decent job, what should I do with my excess money? I live in the Washington, DC area and attend the University of Maryland on a full-time basis. About a year ago I picked up a job at fairly medium sized publically traded company doing grunt work(IT related). I got in good with a couple managers and our CIO and got elevated to a DMS administrator(with the pay that goes along with it). All my school expenses are taken care of (through my undergrad years) through scholarships and money my parents had saved. This includes living expenses(other than the occasional meal out).