I own a disc at Countrywide that could record banruptcy. Is it protected if I hang on to the tale until it expires?
Shares of Countrywide Financial Corp plunged today. There're rumors that it was planning to report for bankruptcy protection. Please answer my interview only if you know the answer. thank youAnswers: The disc is FDIC insured so you won't lose your money. It just might be troublesome to shift through FDIC if CFC indeed becomes out of business.
If it expires relatively soon (1 month or so from now), it might be worth the wait to avoid penalty. In any case, I'd run right at the expiration.
They are FDIC insured are they not? So long as your compact disc is under 100k consequently you are protected.
What are your terms? could you not brass it in very soon with maybe a penalty that might be worth it to endow with you piece of mind?
I haven't been following the Countryside situation, but if you enjoy dealings near them you should check out what is going on with them by going to the FDIC website as very well as the OCC to find out the exact nature of their problems.
PS - Even if it is FDIC insured, it could bring months to get your money from that govt beaurocracy
yes...BUT... I am assuming it's smaller number than 100k in your designation with Countrywide. if more than 100k after then the amount above 100k is not sheltered at all
you will pack out paperwork with the FDIC to wallet a claim and then grasp in vein...
that line will be LONG.
the FDIC will return the money as soon as they are competent.. but it's anyone's guess how long that will take.
so if you without doubt must have the money by a persuaded date then i'd be cashing within the CD and giving up the interest to be locked..
if i didnt have to hold the proceeds immediately i'd probably agree to it go and take the interest from the claim.
the FDIC is pretty good in the region of turn around times but like any political affairs org. you will have some dally.. and potential for frustration.
Your money is FDIC insured up to $100,000 as mentioned above so your money is safe. The liquidation news is a rumor and to be exact it. Your money is locked up in the compact disc anyways so if you take it out, you will lose your interest you gain during the holding period. I reason it would be dumb if you took the money out, lost the interest, and then countrywide kept going on as a business because it be JUST a rumor.
Next time don't tie your money into a CD. Those things are SO dumb within the first place. There are plenty other accounts online that are FDIC insured with better interest rates.
I have a reserves account that pays 5.22% at UFBdirect.com.
Or check www.bankrate.com for other highly developed yielding accounts.
Ignore the socialist warning and the stuff about crazy elected representatives. I have a compact disc with them for almost the $100,000 insurance stricture. So I am completely safe. Now that Bank of America is set to acquire them, adjectives deposits are effectively safe. It would be stupid to annul balances underneath $100,000 (or higher insured limitations in spot on cases, like IRA's and accounts within various different names/capacities; refer to FDIC site). Paying ANY cost for the vague tooth-fairy concept of "peace of mind" would be financially stupid. What are you, a neurotic? Uninsured funds are without doubt a possible problem. If a bank is closed by the FDIC and is not taken over, the FDIC pays rotten the insured balances almost straight away. Three days, perhaps. Maybe sooner, even. The uninformed comments roughly "socialist" and "government" are alarmist lies. In the recent closure of Netbank, it was acquire by ING Direct, a huge Dutch bank. In such cases, it is possible that no funds are lost by anyone. But the FDIC is the agency to ask. Look on www.fdic.gov. In the suitcase of Netbank, where I have an account, I right now received notices from the FDIC and, soon after, from ING. I could use my existing Netbank checks, and the Netbank on-line-banking website. These closures are done on a Friday, and by Monday, your money is available. Maybe even on Sunday, some access to the system. When a dune is acquired, existing CD's verbs earning interest and paying it, beside missing a heartbeat. And you would have a one-off right to withdraw the money WITHOUT PENALTY, which you couldn't do earlier. No wouldn't it be crazy to close it WITH penalty sooner?
If you had $10,000. and your debts were already paid, how would you invest your money?
Answers: How you invest your money wildly varies on your interests, abilities and how much time/effort you want to devote to it.
For example, you could be a passive investor and you just want to park your money somewhere and forget about it. Many paper assets fit this profile where you can purchase stocks, bonds or mutual funds and not have to be too hands on with it. Sometimes the paper assets require you to pay attention to their changing values in order to maximize your gain (like stocks), but for the most part these are hands off type investments.
If you're looking at something where you have to be more active and hands on, real estate is another very popular choice. There are plenty of great opportunities now that there's a general real estate slump. Generally speaking real estate requires you to physically check the properties, negotiate and deal with agents, lenders, contractors, inspectors, property managers (or tenants if you do it yourself); so it's more hands on.
I think before you pick a any direction, think about what you want to do, and what you see is acceptable to you in terms of time/effort. Consider your time frame and your goal of 10-15 years.
Above all educate yourself. Make that your first investment.. and never stop investing in that.
Warren Buffett has averaged a 20% yearly gain for the past 10 years. His first rule is to never lose money. His second rule is to never forget rule #1. I like that thinking.
I signed up for a free account at www.gurufocus.com and it shows me what he bought, at what prices and the date of purchase. I copy him but I buy his picks for less than what he pays.
Mirroring investing masters is the best way to make money easily that not too many people do. Do the smart thing.
And those who say that now is not the time to buy stocks are retards. Isn't the idea to buy low, sell high? Some of these folks have it backwards! To me recession=many buying opportunities.
I would put it in a 5 year cd which is propably around 4.5%.
That would equal 450$ per year and would increase your 10,000 to 14,500 in ten years.
What is/are the best investments for teenagers?
What is/are the best investments for teenagers?Answers: Invest in Silver, regularly called "the poor man's gold". Silver used to be a monetary metal, and perchance some day it will be again. Back contained by 1980, gold sold for 850 and silver sold for 50. Then, one ounce of gold ingots would buy 17 ounces of silver. Today with gold ingots near 900, one ounce of gold ingots will buy a whopping 55 ounces of silver. It seems to me that silver, contained by terms of gold ingots, is "too cheap." Silver will continue to be a great investment for at lowest possible a few more years because of these factors: (1) US Dollar is past it in expediency, (2) Fed continues to lower interest rates, (3) Inflation is rampant mainly due to the certainty that the US Dollar is declining and other countries economy are growing rapidly, (4) Deficit is growing, (5) China and other countries want to diversify out of the US Dollar and into gold/silver, (5) the bull run contained by gold/silver has be strong for 5 years now and have yet to manage its final parabolic phase.
Silver has made around 40% annually since 2002, and will continue to engineer that much until nearly everyone has hear about it and feel confident about investing contained by it. The FINAL TOP is nearly in when you hear it on the nightly report almost daily or it appears as the cover story on Business Week, Newsweek, and/or Time Magazine. This usually go with the supposition that everyone that will buy in have bought in, as a result, what you are left beside are mainly seller. Until then, you will engender very virtuous money in Silver.
Silver is EXTREMELY unforced to buy and sell. Just be in motion to your local coin shop and ask for "silver bullion". You want to buy 1oz or 10oz bars. Don't mess near the old Peace or Morgan dollars because the buy/sell margins are difficult, plus there is smaller quantity demand for them from a coin dealer perspective. If you have a trading report, you can buy silver with ticker symbol "SLV". The great entry about SLV is you don't inevitability to store it physically and you can trade it immediately.
Your first risk should be to fund fully a retirement account. If you do this, and you hold extra cash, later one of the best things you can do is open a DRIP Plan.
These powerful investment plans are seldom talk about because brokers label very little money when they suggest them. Yet, they own proven to be one of the best, if not the best, long-term strategy on Wall Street.
They are superlative for small investors, as well as big investors. They are nontoxic and allow you to not care just about whether the market is going up or down. They are a must for any serious investor.
I strongly recommend looking into it. They are great plans.
I don't know what these individuals are thinking saying property. 1) You can't legitimately sign a contract, so can't buy property. 2) I think you are thinking around investing a significantly smaller amount than a property would require.
Try a savings description, and maybe a disc with your wall. Consider opening an rationalization with an investment firm. One of your parents will call for to be on it as well, but that isn't a big settlement. Start with simpel money open market investments and watch the money grow. There are programs that are specifically designed to free for college expenses or other major vivacity events.
A stock index. It's a basket of stocks that are held fairly than bought and sold on a whim approaching in a mutual fund. The operation fees (a percentage the creator get which is how the creator gets its money) of the indexs are commonly back loaded so you discharge the creator of the index when selling and are generally much cheaper than a mutual fund. The single trouble is some indexes require more money per share than what a teenager can afford. That's where on earth ETFs come in. Some track these indexes and however require less money to bring involved with them. Over the fundamentally long term they can build up and that's why mortal a teenager is the time to buy. Let's influence one put down $1,000 on an ETF at aged 16 and it grew 9% compounded average for 50 years. At that time it would be worth $74,300. At 12% (the historical average of the SP500 over about the time) it would be worth $289,000. If one could aquire $20,000 at age 16 at 9% interest it would be almost $1.5 million and at 12% interest it would be almost $5.8 million. That essentially means you used $20,000 to fund your retirement or at lowest most of it.
Of course the sad piece is, most 16 year olds don't have access to $20,000. They do probably enjoy access to $3,000 a year for 7 years. At 9% that's still $1.2 million at and $4.3 million at 12% age 66. With a Roth IRA (starting at age 18), there is no taxes when taking that money out.
Here are your best answer www.89903.com