Derby Trail Forums - Savings Account

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I admit to knowing nothing, not even knowing where to start.
Please no bullshit responses, PLEASE. I know there are a lot of smart people who can comment on this. If one wanted to start out/ get into savings accounts and was willing to put $5.42 a month into it, how would you go about it? Is $5.42 a month pennies in a savings account? Can you make $ off it?
Thanks, I ask because some dude told me these things were like....a sure thing....and he said he actually makes money every single month in his! Ima gonna be rich!

Quote:

Originally Posted by miraja2 (Post 719864)

while savings accounts are generally good , they are a bad investment now in this country.

the us gov't is not helping out savers at this point , they are actually destroying them.

by running huge federal defecits and keeping interest rates artifically low the gov't is penalizing savers

the value of the dollar is declinig every day and that makes your $ in a savings account worth less

my advice to you is to play the ponies and try to make some $ that way until the gov't starts to reward savers

Quote:

Originally Posted by gales0678 (Post 719875)

while savings accounts are generally good , they are a bad investment now in this country.

the us gov't is not helping out savers at this point , they are actually destroying them.

by running huge federal defecits and keeping interest rates artifically low the gov't is penalizing savers

the value of the dollar is declinig every day and that makes your $ in a savings account worth less

my advice to you is to play the ponies and try to make some $ that way until the gov't starts to reward savers

E.F. Hutton :tro::tro::tro:

Quote:

Originally Posted by dellinger63 (Post 719884)

E.F. Hutton :tro::tro::tro:

why not dell

money in a savings account right now is a losing proposition

I dunno - I kinda sorta got the impression that miraja2 was mocking rather than serious.

Just sayin'...;)

Quote:

Originally Posted by Princess Doreen (Post 719895)

I dunno - I kinda sorta got the impression that miraja2 was mocking rather than serious.

Just sayin'...;)

Oh he is

and Gales when inflation hits and it will any gains will be wiped out anyway. People cry about government pension costs now? Each has an inflation clause attatched so the storm she is a coming and the seas will be angry. But at least India will have Harley jobs. :confused: