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9 Bumps

In today's economy, would you invest your saved money or keep it in a bank?

If you would invest, what would you put it in?

 
Anonymous

Asked by Anonymous at 9:18 PM on Aug. 8, 2010 in Money & Work

This question is closed.
Answers (20)
  • banks interest rates are really low. People would be better off to put it into an annuity, or a Single Premium Immediate Annuity, which means that payments start within a year of funding the annuity. If you're able you can put it into a regular annuity for it to grow over the years, and then it would start pay out around retirement age. Mind you though, an annuity payment IS taxable, in most cases. It really depends on what you want to do with the money. If you need it for an emergency fund, then an immediate annuity may or may not work for, because you will get penalties if you with draw too soon, but they are designed to start payments within a year, so if you can hold off without that money for awhile, then it is your best option.
    mama2three717

    Answer by mama2three717 at 11:23 PM on Aug. 9, 2010

  • A little bit of both if I had enough! I would find a financial advisor I trusted and ask them what to invest in :)
    kaylan010

    Answer by kaylan010 at 9:20 PM on Aug. 8, 2010

  • I would keep it in a bank. It's not about trust anymore, anything can fail over night in today's economy and then your trusted financial advisor will cry on your shoulder asking forgiveness.
    icanbeabitch

    Answer by icanbeabitch at 9:21 PM on Aug. 8, 2010

  • honestly either alcohol or tobacco, people will alwayshave money for cheap thrills
    candle5

    Answer by candle5 at 9:21 PM on Aug. 8, 2010

  • Due to today's economy there is no savings left in the bank.... If we had any extra it would have to be easily liquidated, so it would have to go in the bank and not invested.
    WoodWitch

    Answer by WoodWitch at 9:21 PM on Aug. 8, 2010

  • I would keep it in the bank and just earn interest. Today investing is so risky.
    hsmominky

    Answer by hsmominky at 9:22 PM on Aug. 8, 2010

  • keep it in my mattress!
    butterflyblue19

    Answer by butterflyblue19 at 9:23 PM on Aug. 8, 2010

  • It really depends on what the saved money was saved for in the first place. Our emergency fund- heck no we're not investing that. College and retirement money- sure we would. We'd put it right into a couple Roth IRAs and an ESA for our son.
    Erica_Smerica

    Answer by Erica_Smerica at 9:26 PM on Aug. 8, 2010

  • Some in the bank- the bulk to long term investing- we are all over the map in terms of where the money goes. Most goes to mutual funds and a hunk to my husband's employer's stock- Luckily it's a good performer.
    Sisteract

    Answer by Sisteract at 9:28 PM on Aug. 8, 2010

  • both, we save and my dh takes some every week and puts it into the stock market ..ford, serius xm (sp).. and some penny stocks..idk.which ones. who knows, maybe they will go way up one day.
    shay1130

    Answer by shay1130 at 9:53 PM on Aug. 8, 2010

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