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Investing Advice
started by flatlander_summit
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October 30th 2009 at 11:53 AM
[ Modified October 30th 2009 at 11:58 AM
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flatlander_summit
The Law
flatlander_summit combined yesterday, combining today...
Updated Last Sunday at 9:15 AM
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1173 Posts 
Group: Members
Member Since: February 3rd 2005
Location: Jamestown, ND, USA
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I'm looking for some input from of you guys out there with full-time jobs/careers that have started throwing a little rainy day cash into some kind of savings other than a traditional savings account. I've been socking a little money away each month into a savings account with the intentions of building it a little to start some sort of liquid investment portfolio. I'm not really concerned with this being a retirement account as I have a work funded retirement, and another account that I fund, and real estate. I think I'm pretty secure for that. My intentions for this are to put away for a little extra down payment on a house or improvements to it, when I leave my current job for a permanent position.
Where have some of you guys parked that extra money other than in a savings account? I also should say that I would like these accounts to be liquid without having to pay early withdrawal or tax penalty so I am not looking for a traditional IRA or roth IRA account.
04 MXZx 440
03 MXZx 800 Factory Mod--soon to be 144 with some more goodies.
99 Summit X 670
98 MXZ 583
It's starting to look like I bleed yellow.
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Site Supporter
Group: Site Supporters
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October 30th 2009 at 11:55 AM
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xcr440
Sundowners Trail Coordinator
xcr440 has to go through the snowmobile trailer....sleds will be north next weekend.
Updated Thursday at 1:45 PM
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12574 Posts 
Group: Members
Member Since: February 1st 2003
Location: St.Germain/Edgerton, Wisconsin, USA
Current Sled: 03prox700/97xcr440
2008-2009 Miles: 610
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I put a bunch in a few roth ira accounts.
a good beer drinker isnt a picky beer drinker
Loggers.... Working their ass off so you can wipe yours!
"Steep ground is when your cutting a notch and notice a mountain goat looking at you like you are crazy." - Hexan
woodbooga: (WOOD-boog-ah), n. regional dialect, common to areas of New Hampshire and Maine including the towns of Ossipee, Alton, Farmington, Acton, and Lebanon; one who attempts to obtain free firewood to fuel woodburning appliances in an effort to mitigate expenses related to home heating with fossil fuels. Frequently used as a term of derision by non-woodburners who mock the presence of loose bark and other wood waste in the beds of their pickup trucks.
2003 Pro x 700 almond/blue,10-66 black/red team 719 T-flow, 440 mains
1997 xcr440 my clutch kit, 380 mains,T-flow
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October 30th 2009 at 12:05 PM
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xcr440
Sundowners Trail Coordinator
xcr440 has to go through the snowmobile trailer....sleds will be north next weekend.
Updated Thursday at 1:45 PM
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12574 Posts
Group: Members
Member Since: February 1st 2003
Location: St.Germain/Edgerton, Wisconsin, USA
Current Sled: 03prox700/97xcr440
2008-2009 Miles: 610
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My fil has a ira that has no penelty. I have a life insurance policy that I can pull $$ from also. I beleive it is whole life.
a good beer drinker isnt a picky beer drinker
Loggers.... Working their ass off so you can wipe yours!
"Steep ground is when your cutting a notch and notice a mountain goat looking at you like you are crazy." - Hexan
woodbooga: (WOOD-boog-ah), n. regional dialect, common to areas of New Hampshire and Maine including the towns of Ossipee, Alton, Farmington, Acton, and Lebanon; one who attempts to obtain free firewood to fuel woodburning appliances in an effort to mitigate expenses related to home heating with fossil fuels. Frequently used as a term of derision by non-woodburners who mock the presence of loose bark and other wood waste in the beds of their pickup trucks.
2003 Pro x 700 almond/blue,10-66 black/red team 719 T-flow, 440 mains
1997 xcr440 my clutch kit, 380 mains,T-flow
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October 30th 2009 at 12:37 PM
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picman
Junior Member
picman is off to bag his buck. I hope. Skunked so far.
Updated Wednesday at 1:17 PM
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308 Posts 
Group: Members
Member Since: January 15th 2009
Location: Marinette, WI, USA
Current Sled: 1998 Polaris Ultra
2008-2009 Miles: 1145
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Money market account pay a bit better than standard savings
Find the line between respect and fear....then flirt with it
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October 30th 2009 at 2:28 PM
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MNSLEDNECK56308
Senior Member
MNSLEDNECK56308 done working on trailer for the night!
Updated Thursday at 10:44 PM
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2710 Posts 
Group: Moderators
Member Since: January 12th 2004
Location: ALEXANDRIA, MN, USA
2008-2009 Miles: 1043
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If you consider this "fun" money, get an e-trade account of other online account and put in the stock market, good time right now, seems to be heading in the right direction in general! there is money to be made buying low and selling high!!!!!!!!!! If you want it liquid and to earn a couple %, money market as suggested is a good option.
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October 30th 2009 at 3:22 PM
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arcticcatmatt
Spleen Splitter
arcticcatmatt leaving after work for 3 days of shotgun season back home!
Updated Yesterday at 12:16 PM
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14005 Posts
Group: Moderators
Member Since: November 25th 2001
Location: Berkshire, NY, USA
Current Sled: 96/97 ZRT 600
2008-2009 Miles: 450
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^ Funny you mention that. I put a little extra money on the principle of my house today.. wow does that save you money in interest!!!!!!!!
I am looking at Etrade this weekend.. been meaning to get around to it. I am going to buy a few things with some ideas I got and see what happens.
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October 30th 2009 at 3:33 PM
[ Modified October 30th 2009 at 3:41 PM
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Dumz1
Junior Member
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197 Posts
Group: Members
Member Since: January 21st 2009
Location: Holmen, Wi
Current Sled: 1997 XC 600
2008-2009 Miles: 850 +/-
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I've got everything invested in myself...
Up untill 5 yrs ago though I had any extra money I had invested in gold.. Looking back on it now I wish I still had some in there..
1997 XC 600
2004 Sportsman 500HO
Parting out 1993 XLT and 1997 XCR 600
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October 30th 2009 at 4:49 PM
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JD
Senior Member
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3115 Posts
Group: Members
Member Since: March 6th 2006
Location: North Dakota, USA
Current Sled: '02 XC 500 SP
2008-2009 Miles: 1625
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If you are going to keep it there 5 years or longer, go with aggressive mutual funds, similar to where IRA money would go, except it's not an IRA if you can pull money from it without penalty.
If you are going to be using it before 5 years, which it sounds like you are, money market accounts are only slightly better than cash, but they're sure-fire.
You know I'm a Dave Ramsey fan, so I say no to whole life insurance, no to gold, no to individual stocks, no to day trading. I say YES to paying off debt to save interest, as Matt also mentioned. If you have any debt other than a mortgage, there's no reason to have more than a couple thousand dollars in savings, anyway.
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October 30th 2009 at 9:51 PM
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Twill08
Junior Member
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303 Posts
Group: Members
Member Since: December 8th 2008
Location: Roseville, MN
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Just stay away from day trading.
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October 31st 2009 at 1:29 AM
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ludvic
Average Member
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636 Posts 
Group: Members
Member Since: January 3rd 2004
Location: Winnipeg, Manitoba, Canada
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If are looking for a high return then pay off your credit cards - (18%), mortgage - (6%), Line of credit (10%), etc. Right now these are paying better returns then any stock or bond. Once your debt is clear then you can look for oppotutites to build a "fun fund".
Good luck!
"It's not what you ride - but having something to ride"
2004 XCSP 700
2001 XCSP 800 - SOLD
1994 XCR 440 Liquid - Xtra 10 rear skid (retired and sold)
1983 Yamaha Bravo 250 (for the kids)
2006 Yamaha Kodiak 450
2006 Mini Quad (50cc) for the kids (One for each)
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