I 've save this amount for a long time.I'm tempting to withdraw it as there are many things that I want to buy especially items form THE INTERNET.Should I withdraw it or I should let it stay in the bank for my retirement in the future?PLEASE give me your best advice on how can I really manage my money wisely.PLEASE!!! NO MONEY MAKING STUFF/SCAM from the INTERNET!!! WHAT really is a need from a want?THANKS & GOD BLESS AMERICA!!!!!
Geeeyaaa
Favorite Answer
Well if you keep it in the bank you'll lose value anyways because of INFLATION.
Might as well get as much return from your money. Saving money is a great start but you'll notice the dollar will fall and prices at stores increasing.
If you can find a way to keep the value of dollar the same then do it. But if you don't do anything then it will just depreciate.
There are accounts like Roth IRAs that keep your money without being taxed and profits inside grow tax free. That means when you keep your money in there you're getting approximately 5% or higher in return. Non of your capital gains get taxed.
Money inside your bank does grow but CAPITAL GAINS get taxed 15% - 33% depending on your tax bracket.
Don't keep your money in 1 place. Diversify and try to go against the falling dollar and inflation.
Tenny S
Save it.
But if you really need to use it(some people has this thing where they can't have their money sits there doing nothing), then invest it.
No, I'm not talking about get rich scam thing.
Invest in the legit way.
Buy stocks, bonds, etc.
All Madden
I think you should invest it in good, quality stocks. Don't take chances on penny stocks or scams. I have some stock education on www.davidsharek.com that will help teach you how to look for stocks in the stock market.
Matt
Save the money.
charlie f
well sir i presume i would put it into an ira account,maybe a small amount into stocks or trades to earn money on your money sound logicial huh