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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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Automatic savings-does anyone do this?
We met with our financial dude last week and he suggests that we set up a brokerage account and each month money will come our of our checking account and go into brokerage with a diverse selection of mutual funds and equities.
Among other things we are doing to plan for the future-is anyone else doing this?
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Posted 5/15/06 1:46 PM  |
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randella
Love my little man
Member since 8/05 16290 total posts
Name:
Randi
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Re: Automatic savings-does anyone do this?
I do this-- on my own-- and move my money into a high-yield savings account-- once we have enough, I'd like to invest in a hedge fund or something while still having a decent amount that we can get to if we need it.
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| Posted 5/15/06 1:48 PM |
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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: Automatic savings-does anyone do this?
Posted by randella
I do this-- on my own-- and move my money into a high-yield savings account-- once we have enough, I'd like to invest in a hedge fund or something while still having a decent amount that we can get to if we need it.
I do this now, but this would be an automatic savings into brokerage. You don't need a ton of money to start it. We are starting with $2K and then adding to it.
I'm just a little nervous. It's like a forced savings. I know it will be great considering the dollar cost averaging and the growth.
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| Posted 5/15/06 1:50 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Automatic savings-does anyone do this?
I just have a 401K I do on my own in addition to my work on
I don't put that much in it- I would like to add more
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| Posted 5/15/06 1:53 PM |
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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: Automatic savings-does anyone do this?
Posted by Beth1210
I just have a 401K I do on my own in addition to my work on
I don't put that much in it- I would like to add more
I do this too, and now it's time for me to get really serious about spending. I just hope we can do it w/o arguing over spending etc..it will be a big chunk each month.
We both max our 401k contributions. It really pays off in the end. Our 401(k) is healthy but we spend everything we make. Our savings account has not really gone up much over the last few years. The same $$ is in there..even with an account that earns 4.5% it's not enough growth..so now we have to really get serious.
I don't want to work until I'm 75 like my dad.
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| Posted 5/15/06 1:57 PM |
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karacg
Babygirl is 4!
Member since 5/05 17076 total posts
Name:
Kara®
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Re: Automatic savings-does anyone do this?
I used to do this until I started my own business. Right now I have no iea what kind of income I am going to have so I am holding off for the moment. But I just started my company 401K so I think I will do this instead...
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| Posted 5/15/06 1:59 PM |
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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: Automatic savings-does anyone do this?
Posted by karacg
I used to do this until I started my own business. Right now I have no iea what kind of income I am going to have so I am holding off for the moment. But I just started my company 401K so I think I will do this instead...
This is our dilemma. So what are you going to do for a non-retirement savings plan? Money that you can access now?
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| Posted 5/15/06 2:02 PM |
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karacg
Babygirl is 4!
Member since 5/05 17076 total posts
Name:
Kara®
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Re: Automatic savings-does anyone do this?
I have a lot of financial accounts in place - CDs, Savings, Money Market, Stocks, Bonds, etc. DH contributes the max. to his 401K. So until next year when I know what kind of income I am going to have, I am just staying put. I did open a CD with my financial planner in the company's name, just so I would get a little interest. At the end of the year I will try to put the max. in my 401K.
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| Posted 5/15/06 2:05 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Automatic savings-does anyone do this?
we s u c k at savings also- since we both just turned 29- we are thinking of this year- between now and 30 as a rebuilding year- we are cutting back on spending
selling 1 car ( we have 3- please don't get me started)
my DH is going back to selling deals at work and not just depending on his people do it- not sure why he hasn't done that all along- I am kind of ticked off about it- but haven't said anything
I need to start saving- I waste too much money- family's of 4 surive on what I make alone- it's gross to think I barley can
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| Posted 5/15/06 2:39 PM |
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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: Automatic savings-does anyone do this?
Posted by Beth1210
we s u c k at savings also- since we both just turned 29- we are thinking of this year- between now and 30 as a rebuilding year- we are cutting back on spending
selling 1 car ( we have 3- please don't get me started)
my DH is going back to selling deals at work and not just depending on his people do it- not sure why he hasn't done that all along- I am kind of ticked off about it- but haven't said anything
I need to start saving- I waste too much money- family's of 4 surive on what I make alone- it's gross to think I barley can
I hear ya..the amount of money we spend on eating out is ludicrous. We both work a lot of hours and I get home late so it's just easy to order in or go out for sushi..but we are going to start making a plan so we don't get sucked in. Amex did an end of year analysis and we spend the most on food! My financial dude said that it's common..he said most of the people he meets with are very busy people and don't have time to cook a meal..etc..
We are getting very serious about it and actually while we're nervous about it we are looking forward to building a good savings plan.
DH is making a lot less this year since he changed jobs but he is trying to bring his A game now and we have both made up our minds to save.
It will be tough, but I think we can do it..
Right after the vacation in July! 
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| Posted 5/15/06 2:43 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Automatic savings-does anyone do this?
my Amex year end thing is what made me want to puke
$12K on merchadise-
and $6K on travel- but $5K of that was our HM
and then Jake says why don't we go on a cruise- jus tb/c we have never been on one- hello 2 minutes ago we were talking about saving money- I really don't think I am the one with the problem
my card is frozen in my freezer-
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| Posted 5/15/06 3:22 PM |
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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: Automatic savings-does anyone do this?
it's hard to get out of the lifestyle thing. We know our weaknesses, we just have to keep an eye on them.
So $$ into a brokerage acct every month. Hopefully we will see at least 8% growth per year. (I'm secretly hoping for more)
Damn sushi restaurant..
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| Posted 5/15/06 3:45 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Automatic savings-does anyone do this?
after my rebuilding year is over I would like to start something like that
I think that what my Dad keeps his money in
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| Posted 5/15/06 3:52 PM |
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