Bank interest? How does it work? - Page 2 - GoFuckYourself.com

woj · 06-11-2006, 08:29 PM

50........,.

selena · 06-11-2006, 09:32 PM

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.

Myst · 06-11-2006, 09:51 PM

excellent thread for the young n loaded

mrthumbs · 06-11-2006, 10:05 PM

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....

mrthumbs · 06-11-2006, 10:05 PM

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....

edgeprod · 06-11-2006, 10:10 PM

Quote:

Originally Posted by mrthumbs

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.

edgeprod · 06-11-2006, 10:11 PM

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

Pornwolf · 06-11-2006, 10:26 PM

Quote:

Originally Posted by Bobert

Yes, real estate isnt for everyone. I'm 27 as well and had real estate for 5 years now. I used my school money to buy my first, plus savings and a loan from my family. It's never depreciated in value, but no big deal if it does because they made money from day one. First lesson in real estate, make sure it makes money the day you buy it!

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.

edgeprod · 06-12-2006, 06:28 AM

Quote:

Originally Posted by Pornwolf

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.

gooddomains · 06-12-2006, 06:49 AM

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

Bobert · 06-12-2006, 07:57 AM

Quote:

Originally Posted by Pornwolf

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.

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.

pussyluver · 06-12-2006, 08:01 AM

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.

06-11-2006, 08:29 PM	#51
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	50........,. __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

06-11-2006, 09:32 PM	#52
selena Confirmed User Join Date: Aug 2004 Location: On The Edge Posts: 7,994	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. __________________ ~ Doer of Things at MetArtMoney Where Flawless Beauty Meets Art ~The MetArt Network ~ selena.delgado9

06-11-2006, 09:51 PM	#53
Myst Confirmed User Join Date: Feb 2004 Location: Alberta, Canada Posts: 4,708	excellent thread for the young n loaded __________________ ICQ: 298-523-037

06-11-2006, 10:05 PM	#54
mrthumbs salad tossing sig guy Join Date: Apr 2002 Location: mrthumbs*gmail.com Posts: 11,702	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....

06-11-2006, 10:11 PM	#57
edgeprod Permanently Gone Industry Role: Join Date: Mar 2004 Posts: 10,019	Also, I could be wrong on this, but I don't think checking accounts earn interest at my bank .. only savings ....

06-12-2006, 06:49 AM	#60
gooddomains Too lazy to set a custom title Join Date: Jul 2003 Location: Netherlands Posts: 10,127	the bank lends you some money and then they totally screw you over regarding the interest rates

06-12-2006, 08:01 AM	#62
pussyluver Clueless OleMan Join Date: Mar 2003 Location: ICQ - 169903487 Posts: 11,009	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.