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DebG
Pick a cause & stand up for it
Member since 5/05 18602 total posts
Name:
The cure IS worse!
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Alternatives to ING
As you may have read in an earlier post by me. I have been approved for social security disability. With that, my son Joseph, gets a certain amount of money per month to him.
I would like to put him into the most conservative money makiing/interest yielding thing I can find.
Any suggestions?
We currently have an ING account that's rate is at 4.5 (although I have heard there are new onlines places JUST like ING that are doing better rates, any word on those too)?
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Posted 7/20/07 6:53 AM  |
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Janice
Sweet Jessie Quinn
Member since 5/05 27567 total posts
Name:
Janice
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Re: Alternatives to ING
hsbc offers different promotions
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| Posted 7/20/07 7:27 AM |
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CathyB
Member since 5/05 19403 total posts
Name:
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Re: Alternatives to ING
DH really likes municipal bonds as a conservative investment vehicle. He likes that they tend to pay higher interest, and in many cases the interest is tax free. Plus any brokerage firm can easily buy and sell them for you.
Here's some basic info on munis When he gets home tonight I can ask him for some specific ones he has suggested to some of our family members if you'd like.
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| Posted 7/20/07 7:32 AM |
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rose825
Best Friends
Member since 6/05 10228 total posts
Name:
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Re: Alternatives to ING
I put some money in to a CD for Ryan at WAMU. It was only 24 months and yielded 5%. The longer CD's had even higher APYs.
I am by far not an expert in this area though so this may not be what you are looking for?
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| Posted 7/20/07 7:39 AM |
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Kate07
Feel better my little guy!
Member since 5/05 4476 total posts
Name:
Kate
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Re: Alternatives to ING
I just opened an account with
First National Bank of Omaha
6.00%
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| Posted 7/20/07 7:46 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Alternatives to ING
this rate is good for two more months.
Deb, I would opt for long-term CD unless you think you will need the money soon. Some of the credit unions around town are offering great rates on 1-2 year CDs...some 7%.
Shop around.
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| Posted 7/20/07 9:47 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Alternatives to ING
Posted by Blu-ize
this rate is good for two more months.
Deb, I would opt for long-term CD unless you think you will need the money soon. Some of the credit unions around town are offering great rates on 1-2 year CDs...some 7%.
Shop around.
I would agree - if Deb has a lump sum to put in. if she wants to deposit into an account monthly, she can't with a CD.
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| Posted 7/20/07 9:49 AM |
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robynfs
12/6/10!!
Member since 9/05 4947 total posts
Name:
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Re: Alternatives to ING
I have an online Citibank account...about a year ago the rate was really high...might be worth checking what it is at now.
good luck!
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| Posted 7/20/07 9:52 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Alternatives to ING
alternatively, Citibank is running a new savings account that's earning 5%. I don't know if that's promotional, but it seems that everytime the promotion period runs out they start a new promotion with a new rate. I've moved the money around a few times.
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| Posted 7/20/07 9:55 AM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Alternatives to ING
HSBC or Wachovia. The Wachovia account is guaranteed 5% for six months, then goes to market (the others are market rate). However, Wachovia has a $10,000 minimum for the 5%. It's a full-service account, though, not just internet -- and the $10,000 min can be a combination of the balances in all of your Wachovia accounts.
We have both an HSBC account and a Wachovia account. If this is a large amount of money, I'd put it it more than one account.
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| Posted 7/20/07 9:56 AM |
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CunningOne
***
Member since 5/05 26975 total posts
Name:
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Re: Alternatives to ING
I have an e-savings account at Citibank, but I think that its earning 4.5%.
MY DH is a GM employee and I have an account through GMAC that is earning 6.25%.
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| Posted 7/20/07 9:58 AM |
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DebG
Pick a cause & stand up for it
Member since 5/05 18602 total posts
Name:
The cure IS worse!
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Re: Alternatives to ING
Posted by CathyB
DH really likes municipal bonds as a conservative investment vehicle. He likes that they tend to pay higher interest, and in many cases the interest is tax free. Plus any brokerage firm can easily buy and sell them for you.
Here's some basic info on munis When he gets home tonight I can ask him for some specific ones he has suggested to some of our family members if you'd like.
I would very much like that, thank you for the kind offer
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| Posted 7/20/07 10:04 AM |
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DebG
Pick a cause & stand up for it
Member since 5/05 18602 total posts
Name:
The cure IS worse!
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Re: Alternatives to ING
Posted by Meaghan729
Posted by Blu-ize
this rate is good for two more months.
Deb, I would opt for long-term CD unless you think you will need the money soon. Some of the credit unions around town are offering great rates on 1-2 year CDs...some 7%.
Shop around.
I would agree - if Deb has a lump sum to put in. if she wants to deposit into an account monthly, she can't with a CD.
I thought you could put money in a cd, just couldn't take it out?
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| Posted 7/20/07 10:06 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Alternatives to ING
Posted by DebG
Posted by Meaghan729
Posted by Blu-ize
this rate is good for two more months.
Deb, I would opt for long-term CD unless you think you will need the money soon. Some of the credit unions around town are offering great rates on 1-2 year CDs...some 7%.
Shop around.
I would agree - if Deb has a lump sum to put in. if she wants to deposit into an account monthly, she can't with a CD.
I thought you could put money in a cd, just couldn't take it out?
usually you cant do either - but some banks may let you - definitely ask if you find one with a good interest rate!
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| Posted 7/20/07 10:12 AM |
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DebG
Pick a cause & stand up for it
Member since 5/05 18602 total posts
Name:
The cure IS worse!
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Re: Alternatives to ING
excellent. Thank you for letting me know, that could have been a major incorrect assumption on my part.
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| Posted 7/20/07 10:13 AM |
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