Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Safety Net
Old 01-21-2005, 05:55 PM   #1
Confused about dryer sheets
Join Date: Jan 2005
Posts: 3
Safety Net

i work offshore & make a good wage, but it can be a volatile industry.
as such im planning on starting a safety net account when i get my taxes back this year. you know, 6 months worth of bills & all that.
my question is what kind of vehicle to invest this in? ive got to be able to get the $$$ relatively quickly (although not at all this year so i shouldnt run into any early withdrawal fees) but id like something thats gonna make some $$$ for itself.

Sharp21 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Safety Net
Old 01-22-2005, 07:16 AM   #2
Recycles dryer sheets
Join Date: Sep 2004
Posts: 174
Re: Safety Net

I have an account at ING Direct ( ). They seem to pay some of the highet interest on a money market account you can comeby. It's pretty quick and easy to send money between their account and your checking. The 2.35% isn't anything to brag about, but it's pretty good for liquid funds.

Berkshire_Bull is offline   Reply With Quote
Re: Safety Net
Old 01-22-2005, 11:01 AM   #3
Thinks s/he gets paid by the post
Join Date: Mar 2004
Posts: 2,096
Re: Safety Net


EmigrantDirect is currently paying 3%. Same type of MM account.

I look to the present moment because that's where I live my life.
MJ is offline   Reply With Quote
Re: Safety Net
Old 01-22-2005, 04:24 PM   #4
Posts: n/a
Re: Safety Net

Presently for my "liquid" funds, I have been getting 2.50% for about a year from a local bank. Very few
restrictions other than a minimum balance to get that rate. I also just opened a 9 month CD at another local bank which pays 2.75%. I did that to lock in the rate
as rates in general have not moved up as I thought
they would by this time. I noticed another local bank offered 3.00% on an MM, but there were lots of conditions, including opening a checking account there,
and penalties if you closed out the account within
a certain period of time. The above is typical of what
I have been doing for about the past 3 years. I have
yet to leave northern Illinois to get these rates, and I
have used about 4 or 5 different banks.

  Reply With Quote
Re: Safety Net
Old 01-23-2005, 09:00 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
Join Date: Mar 2003
Posts: 16,433
Re: Safety Net

Sharp, I think it depends on how likely you are to need the money and what your other resources are. I was keeping my emergency stash in an ING savings account. However, I realized that I've not had a bout of unemployment in 7 years and I am not likely to have one any time soon. Since I have a sizable taxable brokerage accoungt I could tap and am in the process of setting up a HELOC, I felt comfy putting that money in 5 year CDs to get more yield.
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."

- Will Rogers
brewer12345 is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Poll: net worth to lifetime earnings firewhen FIRE and Money 9 01-08-2007 07:12 PM
Safe or Safety Deposit Box? kz Other topics 12 07-13-2006 07:19 PM
Calculating your net worth justin FIRE and Money 59 07-02-2005 09:18 PM
Safety Margins Hyperborea FIRE and Money 28 08-09-2004 05:07 PM
Updated Net Worth Figures - How Do You Rate? intercst Other topics 0 01-22-2003 06:00 PM


All times are GMT -6. The time now is 01:38 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.