PDA

View Full Version : Cannot figure out how to keep my savings safe!




BRICS
09-05-2014, 10:21 PM
Why am I concerned about my savings?
- Because they're in a bank (citi), at 0.01% interest, and I'm paying lots of fees, and inflation is bad, so it's loosing value.
- Because I believe that we're about to discover the real value of the dollar: not much.

The first thing I should do I think is move my money to a different bank: does anyone have any thoughts about Charles Schwab?




Citi
Schwab


checking acct interest
0.01%
0.1%


checking acct monthly fee
$10-20 (new)
$0


Minimum balance
$15K (I think)
$0


ATM fees
ATM fee ($2-3) + Non-citi ATM fee ($3)
ATM fee rebate + $0


Int'l Wire transfers
$40
$25


Money Market Acct
?
Free


Min balance
?
$0


Trading tools/platform
None that I know of
Highly rated


Bankrate safety rating
***
****


Support by chat
no
yes


Respect of customer
none
Great (so far!)
























Then, here's a list of solutions I've considered:

Buying silver and/or gold, vaulted in Switzerland or shipped directly to me:



Vaulted:

Pros:

no premium
supposedly stored in a "nuclear-proof" vault in a foreign country with a reputation for stable economy, and no history of govt stealing gold from people.


Cons:

How do I know they really have the PM's I purchased? What proof do I have: a receipt?
There are 2 companies I know of: Goldmoney and Bullionvault. Goldmoney seems to be legit and they will ship your PM's to you if you ask them to. Bullionvault, on the other hand, won't ship your PM's unless you have a megaton of it. When you sign up, they GIVE you some silver... One detail I almost forgot, Bullionvault is owned by the Rothschilds... Now I know my money is in the right hands!




Shipped to me:

Pros:

I've got the coins in MY hands


Cons:

If the govt decides to take them away from me, what am I going to say: "sorry, someone stole it from me"?
I have to pay a premium to the seller when I buy it (but I don't get to sell it back at a premium too, unless maybe I sell on ebay, I don't know)
I cannot really do anything with it.
I don't want to wait for the dollar to crash to move away from here. How am I going to travel with it?





Trading:

The problem with trading is that I have absolutely no idea how to do it. I'm willing to learn. What should I trade or invest in? How can I make sure I don't lose all my savings when the market crashes, or even before it does? What should I invest in?


Real Estate:

I do not have enough savings to buy anything decent in the US and I cannot get a loan because of my credit score. Even if I could get a loan, I would not unless my life depended on it (and it has not been the case so far (knock on wood): that's why ironically my credit score is so low!). I do not want to pay interest to a bank so they can lend me money they don't even have.

Perhaps there are other places in the world where I could afford to buy something decent. Any suggestions? I am very open minded and I have no roots. Any French or English-speaking place in the world would be fine. Some kind of industry that could use filmmakers would be a big plus.


Currencies:

Where ever I look, the Norwegian Kroner is supposed to be the safest currency to have, or at least the one that would be the least affected by world events. I believe it is the one Scotland would choose if they become independent. Does anyone know why? Should I just exchange all my dollars into Kroners and be done with it?


Any other idea would be most welcome! Thanks!

CloseClose

oyarde
09-05-2014, 11:13 PM
Do you have any " real" monies ?

MRK
10-19-2014, 07:17 AM
US banks are good for storing money that needs to be really liquid. Don't park tons of money in a US bank unless you're going to spend it soon.

Many banks have high interest rates in USD denominations. I have a non-US bank that gets 8% interest on the checking account for its USD. Look around. You could always just buy some gold and bury it.

MRK
10-19-2014, 07:17 AM
US banks are good for storing money that needs to be really liquid. Don't park tons of money in a US bank unless you're going to spend it soon.

Many banks have high interest rates in USD denominations. I have a non-US bank that gets 8% interest on the checking account for its USD. Look around. You could always just buy some gold and bury it.

Unregistered
10-20-2014, 09:27 PM
Have you considered putting some of your savings in bitcoin? If bitcoins retain their value over time, then an offline wallet is one of the safest ways to store your currency if you do your homework and know what you're doing. Of course, you never know next year if bitcoins will be worth 20% or 500% of today's value.

thoughtomator
10-20-2014, 09:42 PM
If the govt decides to take them away from me, what am I going to say: "sorry, someone stole it from me"?

You were with me when we had that boating accident and lost all our gold and guns, remember?

NorthCarolinaLiberty
10-21-2014, 12:56 AM
You were with me when we had that boating accident and lost all our gold and guns, remember?


Heh heh.

heavenlyboy34
10-21-2014, 01:25 AM
I prefer credit unions to banks. Better service, often very local, and they care more about you and your opinion than banks.

Danke
10-21-2014, 01:57 AM
http://www.youtube.com/watch?v=y596KAzXbAw