Comments on: Money Markets, CDs, 401ks, and Savings Accounts that Lose Against Inflation: A Society that Punishes Savers. http://www.mybudget360.com/money-markets-cds-401ks-and-savings-accounts-that-lose-against-inflation-a-society-that-punishes-savers/ Investing ideas for preserving wealth in a fluctuating market. Mon, 08 Sep 2008 14:15:50 +0000 http://wordpress.org/?v=2.3.2 By: Idiot http://www.mybudget360.com/money-markets-cds-401ks-and-savings-accounts-that-lose-against-inflation-a-society-that-punishes-savers/#comment-250 Idiot Wed, 16 Apr 2008 20:26:29 +0000 http://www.mybudget360.com/money-markets-cds-401ks-and-savings-accounts-that-lose-against-inflation-a-society-that-punishes-savers/#comment-250 Hey, Name, Idiot here. I have money. Have education already. Need to put money somewhere. Could buy house. Down 20% in my area. Could buy stocks. Down, up, down. Having heart attack. Could buy business. Half broke in first 5 years. Then... see stocks. Could buy Gold. Pays nothing. Goes UP UP. happy. Then DOWN DOWN. not happy. Mattress lumpy. Bank takes care of money, give back when I want. (So far) At least I pay nothing for them to keep it for me and they send me a letter each month to tell me they still have it. Nice of them. Hey, Name, Idiot here.
I have money. Have education already. Need to put money somewhere.
Could buy house. Down 20% in my area.
Could buy stocks. Down, up, down. Having heart attack.
Could buy business. Half broke in first 5 years. Then… see stocks.
Could buy Gold. Pays nothing. Goes UP UP. happy. Then DOWN DOWN. not happy.
Mattress lumpy.

Bank takes care of money, give back when I want. (So far)
At least I pay nothing for them to keep it for me and they send me a letter each month to tell me they still have it. Nice of them.

]]> By: mybudget360 http://www.mybudget360.com/money-markets-cds-401ks-and-savings-accounts-that-lose-against-inflation-a-society-that-punishes-savers/#comment-214 mybudget360 Wed, 09 Apr 2008 05:14:37 +0000 http://www.mybudget360.com/money-markets-cds-401ks-and-savings-accounts-that-lose-against-inflation-a-society-that-punishes-savers/#comment-214 @Name: I agree that the government does understate inflation. Even with their low figure of 4.8%, you are still treading water with typical savings accounts. Of course using owner’s equivalent of rent and balancing out for energy and food is simply absurd. But many cost of living adjustment are tied to the CPI so there is an incentive to report artificially low rates. Anyone that shops, uses gas, has gone to a doctor, and looks at education costs realizes inflation is much higher than 4.8%. @RUKing, Actually, there are two rates above. One is for a CD offered through ING and the other is the Orange Savings Account. The point is, rates are hovering around 2.5 to 3.5% and these are the higher paying institutions. Just take a look at the Bank of America numbers. .35 percent? @Name: I agree that the government does understate inflation. Even with their low figure of 4.8%, you are still treading water with typical savings accounts. Of course using owner’s equivalent of rent and balancing out for energy and food is simply absurd. But many cost of living adjustment are tied to the CPI so there is an incentive to report artificially low rates. Anyone that shops, uses gas, has gone to a doctor, and looks at education costs realizes inflation is much higher than 4.8%.

@RUKing,

Actually, there are two rates above. One is for a CD offered through ING and the other is the Orange Savings Account. The point is, rates are hovering around 2.5 to 3.5% and these are the higher paying institutions. Just take a look at the Bank of America numbers. .35 percent?

]]> By: RUking http://www.mybudget360.com/money-markets-cds-401ks-and-savings-accounts-that-lose-against-inflation-a-society-that-punishes-savers/#comment-213 RUking Tue, 08 Apr 2008 20:48:55 +0000 http://www.mybudget360.com/money-markets-cds-401ks-and-savings-accounts-that-lose-against-inflation-a-society-that-punishes-savers/#comment-213 The rates you mentioned for ING Direct are incorrect. The interest rate on their Orange Savings account is 3% APR regardless of your balance. The figures you provided were for their Electric Orange Checking Account. The rates you mentioned for ING Direct are incorrect. The interest rate on their Orange Savings account is 3% APR regardless of your balance. The figures you provided were for their Electric Orange Checking Account.

]]> By: Name http://www.mybudget360.com/money-markets-cds-401ks-and-savings-accounts-that-lose-against-inflation-a-society-that-punishes-savers/#comment-212 Name Tue, 08 Apr 2008 18:25:34 +0000 http://www.mybudget360.com/money-markets-cds-401ks-and-savings-accounts-that-lose-against-inflation-a-society-that-punishes-savers/#comment-212 Oh please. The real level of inflation is more more like 8+%. Also anyone who saves money is an idiot. If your gonna save you need to put hta tmoney into use...such as into an education or into a business...anyone know saves their money into a CD or money market account has always been "treading water" where the return was around equal to inflation. But now inflation is at least 8%...look at the price of fuel, rising rents, rising cost of food, etc. Oh please.
The real level of inflation is more more like 8+%.
Also anyone who saves money is an idiot.
If your gonna save you need to put hta tmoney into use…such as into an education or into a business…anyone know saves their money into a CD or money market account has always been “treading water” where the return was around equal to inflation.
But now inflation is at least 8%…look at the price of fuel, rising rents, rising cost of food, etc.

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