What the best account for your savings?
 

I'm saving up for a boat. 20-30 thousand range. And I want to put it in an account to build up over a few years say 4-5. I will be adding 3-5thou. to it each year. Most the increase will come from me adding to the account. What type of account should I put this in.

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Stock market on a stock that pays good divides

Savings accounts don't pay crap for interest....

Invest in a stock like AT&T, Phizer, or a high yield bond

Read a few of Dave Ramsey's books. He might not know as much as some of the guys on here but he is pretty sharp. If you want pm me I have the audio CDs from one of his classes I took that you can borrow.

Were do I go to read up on how to start and how much to start with.

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If you have a few thousand and want to go into the market you can open a scottstrade account and buy

Just make sure you invest in a safe stock with high paying div.

Just last year alone I made half of what I made working on Div. Payments..

Dude is a G when it comes to money! but reading his books keep my from buying a boat haha

My biggest response to my wife while we were taking the class was "fawwk Dave Ramsey". But dude knows his stuff. We still apply quite a few of the things from the class at home but not everything. Still a good tool for anyone thing about saving or investing.

I've heard good things about him!

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He is the man, BUT he would advise AGAINST buying a boat because the boat isn't gonna make you any money, its an expense and Dave don't like expenses:)

He can make you rich, but you gotta live without the finer things in life for a few years.

Rich and miserable ..... You can't give me 10mill and tell me I can't ever fish or hunt...

common man! come talk to me at work ill show you what we have to offer. ill be out tomorrow so if you come in ask for chuck

Dude you work for a boat dealership??????

no.. i work with investments.. call me back

You can say that again!

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The money is for long term, future retirement etc. Some will go towards buying a boat , but not all.

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Actually what W said is what I would recommend also. Invest it in an established dividend paying stock (ATT, Altria, Exxon) savings accounts pay crap for interest.

mine
 

you can put it in mine, i will "watch" it for you :grinpimp:

Actually I started a few guys offshore in some stocks..... Some took there bonus last year and they asked me to help them

I put them In pfizer(makes Viagra)
And OLIT..oiltanking comp.

All of them are making good on these two stocks

"w" what is a good amount to start a scottstrade account with if you have never invested in the stock market and want to start

3k would be a good start

If you learn how to watch trends you can buy low sell high
A while back when everyone was in a panic when the market was down..I was buying up all that. Low stock


Made 112%. Profits last year on LNG

How do you know which companies pay good dividends? Research ?

Please please talk to someone who does this for a living:) They will get you lined out. A Roth IRA with mutual funds is a good place to start, then you can start 'day trading' with individual stocks once you figure out what you are doing.

Remember the other day when 'W' was on here talking how much he could sell his boat for above what he paid and then he came out with some percentage he figured!:rotfl:

Talk to a professional

http://finance.yahoo.com/;_ylt=AqQh5...HRlc3QD;_ylv=3

everything you need

Go the "Trading Floor" tab in the main menu. There are a few topic there that cover this subject of how to get started in investing.

After looking at about 60 different data considerations.....Spectrum Pharmaceuticals Inc [SPPI] is my top rated stock this past week.

W..... I saw that LNG was up to $14+ a couple of days ago..... did you get back in it?

No sold my last shares at $12...waiting for it to come back down to $7 range

I'm on ATPG kick right now..bought in big at $5.96

U MAD

Not really. He would not advise against buying a boat. What he would advise is to save and pay cash for the boat. Do not become a slave to creditors. ;)

thats what i plan on doing paying cash for a boat! i have time, im only 30

I admire you man!

You'll be surprised that by 47 (like me) you will not only want a "paid" for boat, but it will not have to be the lastest greatest baddest mostest expensive one out there either.

between the ages of 23 and 33 I went through four Bullets and Two Allisons.......man I wished I had those bones back in my bank account!!

Stay the course, you will be soooooo damn glad you did.

Well done.....you keep that type of money management mentality and you will do well.

You are correct:)

Good luck alphaman