UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: jrr7 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 77389  
Subject: Re: To retire or not to retire? Temporally Date: 2/2/2001 8:54 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
I can't answer the question in the subject, but...

If you split up your money among multiple banks, you're insured at each bank for $100,000. If your wife establishes an account there then up to $100,000 of the money deposited under her name is insured.

The website www.bankrate.com lists all the Money Market Deposit Accounts in the country and ranks them by APY. You want "Jumbo MMA" since you have substantial assets.

Don't forget that due to inflation the purchasing power of your cash is continually dropping. Cash is not an effective long-term savings vehicle.

The Federal Reserve is cutting interest rates and most banks are rushing to lower the rate they pay depositors. I doubt you'll be able to find any bank paying 6%.

I'll defer answering your "considered", "practical", "should" questions.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Kiddie Card Board
Should kids have their own credit card?
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Saul's Investing Discussions

INBK Q1 2015 Earnings Analysis
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.