Quote:
Originally posted by McSpike
banks are for nobrainers. if you have at least a few brain cells you'll invest in other shit than banks.
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AMEN. If you have half a brain, you can easily make 30-50% return on your cash each year in Real estate. Buy a property, fix it up and flip it. A simple search on google for the hottest Real Estate markets is not hard to find. I know where they are but I'm not telling. I've over doubled my initial investment of $100K in just 1 year, 8 months. Not to mention my credit rating has shot through the roof. Use cash as leverage. I started with one home now I got 5 and closing next month on a 6th house an renting it out.
However, banks are necessary to keep cash. I use American Express Brokerage through their Platinum membership program and get 2%. That's the most I've seen and believe me, I've looked for a "locked down" rate. Your can get more on a money market account but you risk is involved depending on the one you pick. I also keep a lot of cash at Washington Mutual which currently yields 1.77% on a liquid account (savings/checking) which is nice.
Stocks are for people with large amounts of cash, say $250K min and know what they are doing, have an excellent broker or both. Otherwise, don't fool with it if you're flying blind. That's for people that either don't know how to use money to make more of it or are just plain stupid.
Hope this helps....