Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

$ 30,OOO Question.........?!?!?

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!!!!!

6 Answers

Relevance
  • 1 decade ago
    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.

  • 1 decade ago

    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.

  • 1 decade ago

    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
    Lv 4
    1 decade ago

    Save the money.

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 decade ago

    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

    Source(s): no source
  • 1 decade ago

    What?

Still have questions? Get your answers by asking now.