- Dec 26, 2001
- 25
- 10
mavrx,
Only time I have money in a money market account is my cash position that is not in another asset class... However, if you are going to be openning one for the sole purpose of a relatively high liquid asset with higher yield and are cool with all the restrictions check out bankrate.com
jDOTgDOT,
I definately depends on how much you make. And, how much of a materialstic person you are. And foremost, and most importantly, how much you discount your future spending. Meaning, personal to you what is most important, buying stuff today, buying stuff tomorrow, or retiering earlier or at a higher level of quality.
As far as why income is important, it may be that someone making a much larger amount per month can save 50% of it and still live well, as where somone not making as much could not sustain on only 50% of their income.
Either way you should make a budget, see how much of your income you use now, and could use and still live at a standard that you will be comfortable with, then work from there on saving more and cutting back on things you deem as less important than retiering more comfortably or spending in the future.
As far as savings for retirement vs. savings for (I dont know, maybe future purchases in a sooner time frame) I would say there is no rule, def somethin you gotta weigh.
Stocks vs. Bonds vs. Cash positions is something that takes alot of time, and depends on economic, stock market, and debt market conditions. So giving a simple answer I don't really wanna do.. unless someone really wants to know...
Dog my projects got taste, although the rent aint nuttin but two fitty,
we sportin five thousand dollar drapes
No matter where he is next year, Amare Stoudemire is guaranteed to make the All-Interview team. When asked about his jumper after the Micky D's game, he responded: "My jumper has improved since the summer, bro, but I haven't even worked on my jumper."
Only time I have money in a money market account is my cash position that is not in another asset class... However, if you are going to be openning one for the sole purpose of a relatively high liquid asset with higher yield and are cool with all the restrictions check out bankrate.com
jDOTgDOT,
I definately depends on how much you make. And, how much of a materialstic person you are. And foremost, and most importantly, how much you discount your future spending. Meaning, personal to you what is most important, buying stuff today, buying stuff tomorrow, or retiering earlier or at a higher level of quality.
As far as why income is important, it may be that someone making a much larger amount per month can save 50% of it and still live well, as where somone not making as much could not sustain on only 50% of their income.
Either way you should make a budget, see how much of your income you use now, and could use and still live at a standard that you will be comfortable with, then work from there on saving more and cutting back on things you deem as less important than retiering more comfortably or spending in the future.
As far as savings for retirement vs. savings for (I dont know, maybe future purchases in a sooner time frame) I would say there is no rule, def somethin you gotta weigh.
Stocks vs. Bonds vs. Cash positions is something that takes alot of time, and depends on economic, stock market, and debt market conditions. So giving a simple answer I don't really wanna do.. unless someone really wants to know...
Dog my projects got taste, although the rent aint nuttin but two fitty,
we sportin five thousand dollar drapes
No matter where he is next year, Amare Stoudemire is guaranteed to make the All-Interview team. When asked about his jumper after the Micky D's game, he responded: "My jumper has improved since the summer, bro, but I haven't even worked on my jumper."
