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Discussion in 'Business Operations' started by tthomass, Nov 18, 2007.

  1. tthomass

    tthomass LawnSite Gold Member
    from N. VA
    Messages: 3,498

    How do you have your money working for you? I have been reviewing various accounts and additionally will be meeting with my bank soon to look at various ways to get a return. Savings accounts are paying a little, then their money market accounts and this and that and the other. I'm looking at putting a percentage into mutual funds. Yes I know the risk but thats why just a percentage, not a lot.......my personal mutual funds are up 16% this year and don't see a savings account paying that out.

    Also looking at credit cards with return. Most are 5% on select, 3% on other stuff etc etc. They all seem the same?

    So, what do you do? How do you get a return on your day to day operations from be it accounts or credit cards......anything else you get a return on?

    Heck, if I can pull an additional $10,000, for example, next year from doing such things I basically run most the year free on fuel, $ towards raises/bonuses, insurance etc.

  2. ALarsh

    ALarsh LawnSite Silver Member
    from Midwest
    Messages: 2,412

    I have a ROTH IRA mutual fund. It isn't short term like you may be looking for but it does work. It isn't doing much right now but you are suppose to put it in there and forget about it, right?:rolleyes:
  3. topsites

    topsites LawnSite Fanatic
    Messages: 21,653

    I'm about to that point myself, I've got most of my accounts linked to each other and there's various amounts in each one so I totaled them up yesterday to come up with a total fluency of 25,000 :laugh:
    It's nice, not all of that is earning interest but even with hardly over half of that at 5% I get roughly $60 a month for free, like yourself that allows me considerable leg room, helps offset not just fuel prices but gives me the ability never to get desperate.
    That to me is the biggest bonus, I love how it turned the tables, can't stop saving now :)

    I still don't think that's quite enough to risk an investment at this time, but I will likely and eventually check into this:
    Minimum deposit = $10,000
    Main holding account: Money market, 5%
    I think it's linkable, not sure but my cap1 account is so it don't matter.

    For lesser amounts, consider checking your house's insulation.
    An upgrade could run you a few g but can save ~20% heating and cooling costs, pays for itself in 3-5 years.
    I just took my unfinished attic from R-11 to R-19, DIY is a pita but my cost was in the hundreds, I immediately felt the difference.
    btw energy saver specs call for R-49 but that's for next year I think.
  4. ALarsh

    ALarsh LawnSite Silver Member
    from Midwest
    Messages: 2,412

    A roth mutal fund averages to give 9-10% over a long period of time. :confused:

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