NT, help me double my money in savings, money market accounts

[depast]

Since starting work out of college two years, I've gone the Dave Ramsey route and saved almost every dime I've made. I have a pretty good amount of money in my local credit union (savings, checking and money market) but I'm not seeing my money grow. At all.

What can I do to double this money? The interest rates are awful right now and I'm not too confident in investing.

Thoughts?

 

[depast]

Since starting work out of college two years, I've gone the Dave Ramsey route and saved almost every dime I've made. I have a pretty good amount of money in my local credit union (savings, checking and money market) but I'm not seeing my money grow. At all.

What can I do to double this money? The interest rates are awful right now and I'm not too confident in investing.

Thoughts?

 

[kingtre]

double your money?

if you find out let me know please

you answered your own question- rates are terrible everywhere...and if you don't want to take a risk then investing/trading is not for you

how liquid do you need the money to be? maybe look into CDs or something that will give you some growth....

 

[kingtre]

double your money?

if you find out let me know please

you answered your own question- rates are terrible everywhere...and if you don't want to take a risk then investing/trading is not for you

how liquid do you need the money to be? maybe look into CDs or something that will give you some growth....

 

[depast]

Well, not even double, just make some money off it.

$30,000 in the bank ain't doing me a bit of damn good just sitting.

 

[depast]

Well, not even double, just make some money off it.

$30,000 in the bank ain't doing me a bit of damn good just sitting.

 

[kidplay]

depending on your risk profile/age, you can invest in stocks or fixed income securities. do a little bit of research before you put your money to work, or else you may end up watching it shrink rather than stay stagnant. 
also, does your place of employment have a 401k plan set up for its employees? if so thats a great way to invest/save at the same time. 

 

[kidplay]

depending on your risk profile/age, you can invest in stocks or fixed income securities. do a little bit of research before you put your money to work, or else you may end up watching it shrink rather than stay stagnant. 
also, does your place of employment have a 401k plan set up for its employees? if so thats a great way to invest/save at the same time. 

 

[redman]

Your best bet would be fond a side hustle.

 

[redman]

Your best bet would be fond a side hustle.

 

[kingtre]

oh and in before you get:

- sell trees
- sell kis
- flip "insert sneaker name here"
- buy a house

 

[kingtre]

oh and in before you get:

- sell trees
- sell kis
- flip "insert sneaker name here"
- buy a house

 

[fulltech]

get a 2nd job and save up from there

 

[fulltech]

get a 2nd job and save up from there

 

[depast]

Originally Posted by kidplay

depending on your risk profile/age, you can invest in stocks or fixed income securities. do a little bit of research before you put your money to work, or else you may end up watching it shrink rather than stay stagnant. 
also, does your place of employment have a 401k plan set up for its employees? if so thats a great way to invest/save at the same time. 

Yeah, but I'm not using it yet. I don't make enough money to do so IMO.

I'm a sports writer in NC. Newspapers' 401K plans = Suicide. The industry is coming to an end, just wanted to save money before heading back to school, again, for another degree.
  

 

[depast]

Originally Posted by kidplay

depending on your risk profile/age, you can invest in stocks or fixed income securities. do a little bit of research before you put your money to work, or else you may end up watching it shrink rather than stay stagnant. 
also, does your place of employment have a 401k plan set up for its employees? if so thats a great way to invest/save at the same time. 

Yeah, but I'm not using it yet. I don't make enough money to do so IMO.

I'm a sports writer in NC. Newspapers' 401K plans = Suicide. The industry is coming to an end, just wanted to save money before heading back to school, again, for another degree.
  

 

[depast]

Originally Posted by FullTech

get a 2nd job and save up from there

I've gone the second job route bruh, and it killed me this tax season.

Having a second job put me in another bracket and I wound up owing money. No more second jobs for me unless it's under the table cash.

 

[depast]

Originally Posted by FullTech

get a 2nd job and save up from there

I've gone the second job route bruh, and it killed me this tax season.

Having a second job put me in another bracket and I wound up owing money. No more second jobs for me unless it's under the table cash.

 

[dukeben18]

Check out Rewards Checking Accounts that pay approx 3%.

Fund your 2010 Roth IRA with $5,000 before April 15th. Start putting in $5,000 towards your 2011 Roth IRA.

 

[dukeben18]

Check out Rewards Checking Accounts that pay approx 3%.

Fund your 2010 Roth IRA with $5,000 before April 15th. Start putting in $5,000 towards your 2011 Roth IRA.

 

[kidplay]

Originally Posted by DEpast

Originally Posted by kidplay

depending on your risk profile/age, you can invest in stocks or fixed income securities. do a little bit of research before you put your money to work, or else you may end up watching it shrink rather than stay stagnant. 
also, does your place of employment have a 401k plan set up for its employees? if so thats a great way to invest/save at the same time. 

Yeah, but I'm not using it yet. I don't make enough money to do so IMO.

I'm a sports writer in NC. Newspapers' 401K plans = Suicide. The industry is coming to an end, just wanted to save money before heading back to school, again, for another degree.
  

why do you say this? also is there a company match? 

 

[kidplay]

Originally Posted by DEpast

Originally Posted by kidplay

depending on your risk profile/age, you can invest in stocks or fixed income securities. do a little bit of research before you put your money to work, or else you may end up watching it shrink rather than stay stagnant. 
also, does your place of employment have a 401k plan set up for its employees? if so thats a great way to invest/save at the same time. 

Yeah, but I'm not using it yet. I don't make enough money to do so IMO.

I'm a sports writer in NC. Newspapers' 401K plans = Suicide. The industry is coming to an end, just wanted to save money before heading back to school, again, for another degree.
  

why do you say this? also is there a company match? 

 

[king jaffe]

ING account son, look into it

 

[king jaffe]

ING account son, look into it

 

[kingtre]

Originally Posted by King Jaffe

ING account son, look into it

maybe 3-5 years ago...ING is giving like 1% right now...

I got in back during the good times when it was like 4 or 5% ...that is all gone