50........,.

I love these kind of threads. I always learn something from you all when I read them.

When you've never had money to do anything with, it's easy to be behind where you should be in terms of knowledge. (speaking of myself, not edgeprod)

So I soak these threads up like a sponge. :)

excellent thread for the young n loaded

so much money in your checking account and not even your financial advisor or accountant gave oyu a little warning? This probably means you dont have a fin advisor or accountant so your tax is not handled properly.....make sure you sort that out first and see how much you really own of the sum waiting on your account before yu get to happy with investments and such....

so much money in your checking account and not even your financial advisor or accountant gave oyu a little warning? This probably means you dont have a fin advisor or accountant so your tax is not handled properly.....make sure you sort that out first and see how much you really own of the sum waiting on your account before yu get to happy with investments and such....

There's only $5,000 in my PERSONAL checking account most of the time, and I don't share the figures of my savings account with the guy who does the business taxes.

:2 cents:

Also, I could be wrong on this, but I don't think checking accounts earn interest at my bank .. only savings ....

That's pretty much impossible in the highly populated areas in New York & certain parts of Conneticut where a 1 bedroom apartment starts a $400,000.

Sing it, brother! Here in Connecticut, you can spend $1MM+ on an apartment if you want 3BR and 2 baths. Even more, of course, in NYC.

the bank lends you some money and then they totally screw you over regarding the interest rates

I hear da bro! Good thing we're in the outskirts. Why not come up to Canada to invest? Downtown T.O. is the same though but you can get a nice house here for $250k. You'd live like a king here for 1 mil. Prices are up though in the last 5 years. Hard to find the gem of a deal anywhere, but if you're loaded like this fella you could buy a few houses outright. I can find a house for $150k but it'll be small and in the hood. Used to find stuff at $100k and that was nice, since then it's $225k average.

If you have all the cash in one bank and have exceeded FDIC insurance limits -- time to spread that around to multiple accounts at different banks. Banks in different states make sense too.