Online savings?

[jrich4rpaul]

This may be a wacky idea, but hear me out...

The campaign needs 12 mil by December. Now, we could donate everything we have once we get it, which would help with their short-term goals. But, there are many online savings accounts that offer over %5.0 APY. I personally use HSBC, although they just recently they dropped it down to %4.5. Other banks provide more interest, so do your research.

I'm thinking instead of donating our money asap, investing everything we can into a savings and waiting until December would help us to donate more through interest. Although the interest may not be much of a boost individually, if enough people did it, it would add up to the thousands by the time we withdrew the funds in December.

Just a thought.

[zebov]

I guess it depends on the purpose of the donation. If the purpose is to make the numbers for q4 look big, then this is a good idea. If the purpose is to get Paul money to support the campaign, then (as my econ professor alway said) "getting money now is better than getting money later."

[Dustancostine]

Also I am sure that the 5.3 mill is earning interest right now.

[coastie]

Also I am sure that the 5.3 mill is earning interest right now.

I would've thought the FEC wouldnt allow the money to sit in an interest-bearing account???

shit, I dont know....:p

[Corydoras]

If you donate now, the campaign will know it actually HAS the money to plan advertising campaigns. Donate later and they don't know, so they will plan to buy less than it turns out they will be able to afford. Current donations are vital to planning.

[McDermit]

Let the campaign invest the money. Even if they can't earn interest, the more they spend, all the more new supporters (and potential donators) they can reign in. Donate as much as you can as often as you can.

[jrich4rpaul]

Yeah.. those are some good points I suppose.