Night Owl Chatterboxes - Part XXV!
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hmm.. it's about the same price here...
actually, i lie.. it's cheaper than sg's prices
Originally posted by jetta:Sounds like the housing market here. 3 bedroom, 1500sq ft, 2 car garage house in my area only $700K. -
Now you have me second guessing myself.Originally posted by Meia Gisborn:Hmm... you might want to confirm that with the credit union.
A tax-deferred investment incurs a tax liability at a future point in time (the best example being a 401K or 403B investment account, where the tax is paid when the funds are wholly or partially withdrawn upon the account holder reaching retirement age).
A MM account with check-writing privileges functions much like a regular checking account, except that the bank has wider latitude in determining how to invest the deposited funds. I can't recall, but I seem to remember that MM accounts, unlike regular checking and savings accounts, are not FDIC-insured.
Again, I would advise checking with your credit union to confirm.
I know that not all MM accounts are FDIC insured but ours is. -
And on that high note, I have to skadaddle. It's Friday!!!
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enjoy your weekend
i will go sleep soon.. got a Pilates class in the morning -
Boy, they aren't kidding on the part about a limited number of transactions per month!Originally posted by jetta:Some banks don't have a minimum sum to start. Here's more info from my bank:
Money Market Savings Account (MMSA)
With our MMSA, you earn more than with a share savings account, but the number of transactions per month is limited. The MMSA requires a minimum opening deposit of $2,500.
You can access your account with special MMSA checks, online access, ATMs or phone. You can make no more than six total withdrawals per calendar month, and only three can be by check.
Tiered rates are based on money market environment and may change weekly. Rate applies to the entire balance, not just the amount over the tier threshold.
Dividends are compounded and paid monthly.
There is no set term.
What is a Money Market Savings Account?
An account with higher earnings potential than a share savings account, but more limited access due to federal regulations.
What are the limits on how many withdrawals you can make per month?
You can write only three MMSA checks per month, or make six withdrawals using any combination of three or fewer checks, the Automated Clearing House (electronic debits), phone, fax, Internet or automatic transfers. There are no monthly limits on the number of transfers or withdrawals made in person at a branch, through an ATM or by mail. Note: checks are included in monthly totals based on the date they are paid, not on the date written.
I suppose the limit of three checks per month isn't a problem if your monthly bills are handled by automatic funds transfers, or paid from a dedicated checking account with no check-writing limits.
I have my accounts and investments with Wells Fargo (actually, they were with Norwest, before they were bought out by WF some years back), and have a MMSA that is linked to a regular checking account. Money is automatically transferred between the two when certain threshold amounts are reached. The checking account has no limits on check writing, and the MMSA pays a higher interest, so I think I've got the best of both worlds, for now. -
I've arranged for bi-monthly deposits. Trying to save as much as possible to buy a house so I don't intend to touch this account.Originally posted by Meia Gisborn:Boy, they aren't kidding on the part about a limited number of transactions per month!
I suppose the limit of three checks per month isn't a problem if your monthly bills are handled by automatic funds transfers, or paid from a dedicated checking account with no check-writing limits.
I have my accounts and investments with Wells Fargo (actually, they were with Norwest, before they were bought out by WF some years back), and have a MMSA that is linked to a regular checking account. Money is automatically transferred between the two when certain threshold amounts are reached. The checking account has no limits on check writing, and the MMSA pays a higher interest, so I think I've got the best of both worlds, for now.
Have you checked out ing direct? They're pretty good too. -
Nope. Heard of them, but that's about it. What's their area of expertise?Originally posted by jetta:Have you checked out ing direct? They're pretty good too. -
Just a thought: if liquidity isn't an issue (i.e., you don't intend to pull money out from the account on a regular basis) and you intend to keep the money invested over a longer time frame, you might want to seriously consider a mutual fund. Yields are slowly but surely starting to come up, and there are funds straddling the entire risk spectrum, so finding one that matches your risk propensity and investment objectives should be fairly easy.Originally posted by jetta:I've arranged for bi-monthly deposits. Trying to save as much as possible to buy a house so I don't intend to touch this account.
Give tech stocks a wide berth, though. They're still languishing. -
Thanks MG! You're my unofficial financial go to guy.Originally posted by Meia Gisborn:Just a thought: if liquidity isn't an issue (i.e., you don't intend to pull money out from the account on a regular basis) and you intend to keep the money invested over a longer time frame, you might want to seriously consider a mutual fund. Yields are slowly but surely starting to come up, and there are funds straddling the entire risk spectrum, so finding one that matches your risk propensity and investment objectives should be fairly easy.
Give tech stocks a wide berth, though. They're still languishing.
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~ C L O S E D ~
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Hellooooooooo....................! Where'd everybody go? Busy spending bonus?
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jetta, actually, a lot of us were out stuffing our faces and increasing our cholestrol count
i ate 1 giant prawn and 2 other giant prawn heads... butter-fried crayfish, cockles, chillied mussels, oyster omelette, crispy baby squid... stingray... and a few other things i forgot -
hey dude..so sorry i missed out..and it looks like i missed alot of great stuff..but yea..somethings are more important den growing fat..Originally posted by the Bear:jetta, actually, a lot of us were out stuffing our faces and increasing our cholestrol count
i ate 1 giant prawn and 2 other giant prawn heads... butter-fried crayfish, cockles, chillied mussels, oyster omelette, crispy baby squid... stingray... and a few other things i forgot -
it's all right
may be other times -
back!
very full now -
OYSTER OYSTER OYSTER !
*sTuffED*
OYSTERsSSSssssssssssssssssssssssssss ! -
deathdude.. barely met you coz i was at the other side of the table and in the company of the wonderful ferret
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Uh...he was there ?Originally posted by the Bear:deathdude.. barely met you coz i was at the other side of the table and in the company of the wonderful ferret
*cRinGes*
I am so sorry ! I didnt introduce myself !
Is it too late to do that now ?
Hi
Uh... I am Ferret -
hao gui orhh, spent my $$ for buying ite textbooks
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i'm at the other end with shinta and nel, nvm saw u while heading to the mrtOriginally posted by Ferret:Uh...he was there ?
*cRinGes*
I am so sorry ! I didnt introduce myself !
Is it too late to do that now ?
Hi
Uh... I am Ferret -
good right?
Originally posted by Ferret:OYSTER OYSTER OYSTER !
*sTuffED*
OYSTERsSSSssssssssssssssssssssssssss ! -
Yup. My first time seeing them too.Originally posted by The man who was death:i'm at the other end with shinta and nel, nvm saw u while heading to the mrt I assumed they are shinta and nel...
That was you with them waiting for cab ah ? Now I see. -
Hell Yeah !Originally posted by the Bear:good right?
And it was big I couldnt finished !
And did you notice me comparing the "tua tou" to the oyster ?
THE OYSTER IS BIGGER OK ! AMAZING ! -
how much per person?
gessh looks like students like me can't afford..
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yeah.. i was noticing you a lot
like i was telling them.. membership has its privilegesOriginally posted by Ferret:Hell Yeah !
And it was big I couldnt finished !
And did you notice me comparing the "tua tou" to the oyster ?
THE OYSTER IS BIGGER OK ! AMAZING !