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Simo Häyhä · 07-28-2007, 12:38 PM

i suggest putting your money into the stock market

a typical bank account only accrues a savings rate of like 2% on simple interest.
a Money Market account gets you above 5% on compounded interest
an index like the S&P 500 over the years averages out to about 11% a year

keep in mind that inflation usually raises 2% a year, so all that money you have in your savings account at your bank is now growing, its losing. happy:

Are you saving for retirement? Or for a toy you want to buy in the next few years?
I'd open a roth IRA for your retirement. Do it youself and not through a bank (they usually charge 1% interest on your gains) orrrr if your employer offers a 401k plan go that route.

I day trade for a living and I make pretty good money off of it.

	(#12)
Simo Häyhä is Offline Colonel Posts: 8,177 Join Date: Dec 2002 Location: Ontario, New York	07-28-2007, 12:38 PM i suggest putting your money into the stock market a typical bank account only accrues a savings rate of like 2% on simple interest. a Money Market account gets you above 5% on compounded interest an index like the S&P 500 over the years averages out to about 11% a year keep in mind that inflation usually raises 2% a year, so all that money you have in your savings account at your bank is now growing, its losing. happy: Are you saving for retirement? Or for a toy you want to buy in the next few years? I'd open a roth IRA for your retirement. Do it youself and not through a bank (they usually charge 1% interest on your gains) orrrr if your employer offers a 401k plan go that route. I day trade for a living and I make pretty good money off of it. www.92bengals.com It's like aa.com with more gay jokes.