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NFL 2016 Offseason Thread |OT3| - With the 29th pick of the 2016 NFL draft...

FMT is a dad! How best to celebrate?

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R

RBH

Member
So I've got a random question to ask.

Now that I'll finally be starting to earn a consistent income soon, I've been thinking about opening up a savings account, but I'm just not sure which type to pursue right now. I guess I just wanted to start putting money aside for an emergency fund for now, and then eventually start to look toward putting money aside for a home in the future.

I've been researching about high-yield savings accounts and certificate of deposit (CDs), and while it seems like CDs offer a higher interest rate, I'm just not sure about whether to lock into a CD for a 1 or 2 or 5-year term (since I'm not familiar with how often and how much interest rates fluctuate over time).

I'm okay with withdrawal restrictions for now since I'll have enough in my checking account for any withdrawals in the immediate future.

Any advice from you guys? I'm a novice with this kind of stuff (it's why I haven't even scratched the surface with stocks and such), so any input is appreciated.
 
S

sf2fanatic

Member
Ninja Scooter said:
Those were the days
giphy.gif
Click to expand...

You damn straight those were the days
 
H

Himynameischris

Member
RBH said:
So I've got a random question to ask.

Now that I'll finally be starting to earn a consistent income soon, I've been thinking about opening up a savings account, but I'm just not sure which type to pursue right now. I guess I just wanted to start putting money aside for an emergency fund for now, and then eventually start to look toward putting money aside for a home in the future.

I've been researching about high-yield savings accounts and certificate of deposit (CDs), and while it seems like CDs offer a higher interest rate, I'm just not sure about whether to lock into a CD for a 1 or 2 or 5-year term (since I'm not familiar with how often and how much interest rates fluctuate over time).

I'm okay with withdrawal restrictions for now since I'll have enough in my checking account for any withdrawals in the immediate future.

Any advice from you guys? I'm a novice with this kind of stuff (it's why I haven't even scratched the surface with stocks and such), so any input is appreciated.
Click to expand...


Get a CD and if you're not sure or will be moving the money anyways get it for 2 years, interest rates won't change much in that time, after you have a good amount saved up talk to a financial planner to get your money moved into longer term investments.


Edit: Oh wait I skipped over that home part, nm don't get a CD, do what Cyan said.
 
D

DMczaf

Member
RBH said:
So I've got a random question to ask.

Now that I'll finally be starting to earn a consistent income soon, I've been thinking about opening up a savings account, but I'm just not sure which type to pursue right now. I guess I just wanted to start putting money aside for an emergency fund for now, and then eventually start to look toward putting money aside for a home in the future.

I've been researching about high-yield savings accounts and certificate of deposit (CDs), and while it seems like CDs offer a higher interest rate, I'm just not sure about whether to lock into a CD for a 1 or 2 or 5-year term (since I'm not familiar with how often and how much interest rates fluctuate over time).

I'm okay with withdrawal restrictions for now since I'll have enough in my checking account for any withdrawals in the immediate future.

Any advice from you guys? I'm a novice with this kind of stuff (it's why I haven't even scratched the surface with stocks and such), so any input is appreciated.
Click to expand...

Invest in Breadstream
 
R

RBH

Member
Cyan said:
CDs aren't liquid, which defeats the purpose of an emergency fund. The marginal increase in interest over a high yield savings probably isn't worth it. I suggest just sticking to the savings account for an emergency fund. On the other hand, you don't need your savings for big purchases like a home to be liquid, and depending on how long you think it'll be before you buy (like if it's going to be more than a few years), it might even be worth investing in a stock/bond mix. I still probably wouldn't go CDs for home savings, but I guess that might depend on how sure you are of your timing.

I strongly suggest hopping into this thread and learning about 401ks and IRAs. If your job doesn't offer a 401k definitely look into an IRA. Never too early to think about this. You'll thank yourself for it later.

This has been your NFL Offseason thread investment report. Go Bears. (Not those Bears.)
Click to expand...
I realized soon after my post how I contradicted myself by talking about CDs in the context of an emergency fund. The wonders of trying to learn about finances at 1am in the morning haha.

Right now, I don't think I'll be looking to buy a home for at least 5 years (the joys of medical residency training), but just wanted to start thinking about this stuff in advance.

Thanks so much, I'll definitely read up on that thread.
 
8

8 X 11 Printer Paper

Member
XiaNaphryz said:
lol Paper ain't immune.

Not surprised if he doesn't know Blackstreet. Kids these days!
Click to expand...

I ain't gata, I just never get heated when posting so its a bit hard to find material to ban me for.

Now to sleep, wake up in 7 hours and spend most of the day configuring/formatting, checking RAM + HD functionality and amounts, labeling and troubleshooting 30-50 computers.....woo grunt work!
 
C

chuckddd

Fear of a GAF Planet
“I don’t have a number, I just want to catch them all,” said Brown. “That’s always my goal is to maximize every opportunity and every throw that’s coming my way. To be consistent, be a guy Ben [Roethlisberger] can trust, be a guy the team can rely on and just like the Ash Ketchum from the Pokémon, I just want to catch them all.”
Click to expand...

.
 
D

Dutch Gronk

Banned
RBH said:
So I've got a random question to ask.

Now that I'll finally be starting to earn a consistent income soon, I've been thinking about opening up a savings account, but I'm just not sure which type to pursue right now. I guess I just wanted to start putting money aside for an emergency fund for now, and then eventually start to look toward putting money aside for a home in the future.

I've been researching about high-yield savings accounts and certificate of deposit (CDs), and while it seems like CDs offer a higher interest rate, I'm just not sure about whether to lock into a CD for a 1 or 2 or 5-year term (since I'm not familiar with how often and how much interest rates fluctuate over time).

I'm okay with withdrawal restrictions for now since I'll have enough in my checking account for any withdrawals in the immediate future.

Any advice from you guys? I'm a novice with this kind of stuff (it's why I haven't even scratched the surface with stocks and such), so any input is appreciated.
Click to expand...

Friend!

I'm here to help. I'll invest your money for a small fee.
 
F

FloydtheFathead

Member
Good morning

There was a band called Blackstreet?

Sweeney Tom said:
DM trying his best to start over by erasing everything from his memory that happened from the day the kicker was drafted on
Click to expand...
It was a dawn of a new era in DM's life.

Ninja Scooter said:
"Your sister was in a blackstreet video" once won me a game of the dozens.
Click to expand...

What's a game of a dozens ninja?

Cyan said:
This has been your NFL Offseason thread investment report. Go Bears. (Not those Bears.)
Click to expand...
Are you ready to cheer for your boy Goff Cyan?

Ninja Scooter said:
Backstreet's black....ALRIGHT!
Click to expand...
:jnc
 
F

FloydtheFathead

Member
WanderingWind said:
I believe the kids call it a "roast" now.

..wait, you never heard of Blackstreet? Impossible.
Click to expand...
Never before this moment..

Kave_Man said:
smh if some of you guys actually don't know about Blackstreet.
Click to expand...
I spent the majority of my childhood in southeastern Ohio Kave where there was one (I mean literally one) black family in the entire school district..

These songs were not widely played on the radio there.
 
W

WanderingWind

Mecklemore Is My Favorite Wrapper
No Diggity was all over the place. I'm guessing you heard the song, but never really attributed it to the group. They weren't famous outside of that, really. But that song was everywhere.
 
F

FloydtheFathead

Member
WanderingWind said:
No Diggity was all over the place. I'm guessing you heard the song, but never really attributed it to the group. They weren't famous outside of that, really. But that song was everywhere.
Click to expand...
I'm not kidding. I have never heard this song before I clicked your YouTube link. I wasn't into MTV and shit and by the time I started, it was 60% reality tv.
 
Goro Majima

Goro Majima

Kitty Genovese Member
I generally go through life assuming people have heard the following:

C&C Music Factory - Everybody Dance Now

Tone Loc - Wild Thing

Boys 2 Men - numerous songs

Space Jam soundtrack - ride the train, I believe I can fly

Warren G - Regulate

Cypress Hill - Insane in the Membrane

House of Pain - Jump

La Bouche - Be My Lover



I also assume that everyone has the entirety of the movie "Friday" memorized like me.
 
Y

yankeehater

Member
Hey any of you guys have a DIY home security system? We had vivant but they cancelled our service since we couldnt pay the bill anymore and I am looking to go much cheaper this time. I had found a post online saying that you could hijack a vivant sky box rather easily and use it with other services but now I cant find it.
 
W

WanderingWind

Mecklemore Is My Favorite Wrapper
yankeehater said:
Hey any of you guys have a DIY home security system? We had vivant but they cancelled our service since we couldnt pay the bill anymore and I am looking to go much cheaper this time. I had found a post online saying that you could hijack a vivant sky box rather easily and use it with other services but now I cant find it.
Click to expand...

Yes. Get a dog.
 
B

BigAT

Member
FloydtheFathead said:
I spent the majority of my childhood in southeastern Ohio Kave where there was one (I mean literally one) black family in the entire school district..

These songs were not widely played on the radio there.
Click to expand...

It's not like No Diggity is a deep cut off a KRS-One album or something, it was a hugely popular song that was everywhere. I'm white as fuck and I was well aware of it.
 
Goro Majima

Goro Majima

Kitty Genovese Member
yankeehater said:
Hey any of you guys have a DIY home security system? We had vivant but they cancelled our service since we couldnt pay the bill anymore and I am looking to go much cheaper this time. I had found a post online saying that you could hijack a vivant sky box rather easily and use it with other services but now I cant find it.
Click to expand...

Ours is through a company so all I can offer is a snarky suggestion of some combination of guns and dogs.
 
Goro Majima

Goro Majima

Kitty Genovese Member
FloydtheFathead said:
Never before this moment..


I spent the majority of my childhood in southeastern Ohio Kave where there was one (I mean literally one) black family in the entire school district..

These songs were not widely played on the radio there.
Click to expand...

I went 6 years or more without seeing a single black person in my town of 50,000 in Arkansas....

I heard all that music and then some still.
 
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