TriniTuner.com  |  Latest Event:  

Forums

Short/long term investments/retirement policies etc advise

this is how we do it.......

Moderator: 3ne2nr Mods

User avatar
ProtonPowder
Riding on 18's
Posts: 1894
Joined: April 2nd, 2018, 1:15 pm

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby ProtonPowder » October 1st, 2022, 12:08 pm

If you looking for an emergency fund you can access at a moment's notice, is best to stick it in a regular savings account or under your mattress. Anything fancier than that and you have to wait some kind of time to access it.

User avatar
DMan7
punchin NOS
Posts: 4036
Joined: February 2nd, 2021, 5:17 pm

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby DMan7 » October 1st, 2022, 12:09 pm

Under your mattress FTW.

User avatar
Rovin
TriniTuner 24-7
Posts: 9611
Joined: January 23rd, 2014, 1:14 pm
Location: In the middle of Chaguanas ...

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby Rovin » October 1st, 2022, 12:24 pm

better u take dat $ & invest in buying\renting out 2 older nissans to pull bull for d day

guaranteed ah lil $150-200\day, more $ then any other kind of savings ...

User avatar
xtech
punchin NOS
Posts: 2908
Joined: March 15th, 2006, 2:01 pm
Contact:

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby xtech » October 1st, 2022, 1:15 pm

kadijahveronica wrote:Thinking about stashing away 50k and forgeting about it for about 2-3 yrs (rainy day kinda thing) but i would also like access to that money incase it comes sooner …any advice would be greatly appreciated…havent been up to date with who is the best



https://m.facebook.com/story.php?story_fbid=1581063885682473&id=100006534842640

Some good advice in this old video

bluefete
TriniTuner 24-7
Posts: 13258
Joined: November 12th, 2008, 10:56 pm
Location: POS

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby bluefete » October 1st, 2022, 1:26 pm

Stocks or the mattress.

User avatar
shake d livin wake d dead
TunerGod
Posts: 31605
Joined: July 20th, 2009, 1:25 pm
Location: all over

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby shake d livin wake d dead » October 1st, 2022, 1:34 pm

If you sure you not going to touch it, look for an institution which gives the best returns on a fixed deposit.

User avatar
VexXx Dogg
TriniTuner 24-7
Posts: 16213
Joined: May 1st, 2003, 10:23 am
Location: ☠☠☠

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby VexXx Dogg » October 1st, 2022, 1:52 pm

Check an annual fixed deposit.
If you need to cash out on it, you'll only lose the interest for the year you "broke" it.

Eg.
If you plan to save 50k for 3 years, a 1 year fixed deposit will prob give you 3% and it will auto renew.

1st year you'll have 50k+3% interest = 51500
2nd year you'll have 51500+3%=53545
Let's say in the middle of the third year you wanna cash out. You should be able to walk out with the 53k and the penalty would only apply for the last year. Not sure if they prorate the last year or you forfeit it.

shop around for the best interest

User avatar
timelapse
TriniTuner 24-7
Posts: 8113
Joined: June 20th, 2012, 7:13 pm

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby timelapse » October 1st, 2022, 2:08 pm

Save your money in a small business

User avatar
DMan7
punchin NOS
Posts: 4036
Joined: February 2nd, 2021, 5:17 pm

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby DMan7 » October 1st, 2022, 2:12 pm

If that is all the interest you getting in fixed deposits and mutual funds might as well just start up a side hustle yes.

User avatar
paid_influencer
Trying to catch PATCH AND VEGA
Posts: 6803
Joined: November 18th, 2017, 4:15 pm

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby paid_influencer » October 1st, 2022, 3:00 pm

forget interest and returns and all dat chit. 50k is good for an emergency fund and you need access to that asap when it happens. put it in a regular bank account until you see the signs. when the signs appear, convert some of that money into tools, medicines, food and water. a bale of toilet paper is a savings instrument. laugh but when the chit hits the fan you want that bale. and you can drink the water.

bluefete
TriniTuner 24-7
Posts: 13258
Joined: November 12th, 2008, 10:56 pm
Location: POS

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby bluefete » October 1st, 2022, 3:02 pm

Don't forget to factor in the inflation rate whatever you decide to do with your money.

If your investment is not giving you or equal to the inflation rate, you have lost before you started.

If inflation is 5% and fixed deposit is 3%, your money is worth 2% less.

User avatar
hustla_ambition101
TriniTuner 24-7
Posts: 8078
Joined: February 1st, 2007, 1:55 pm
Location: waiting....

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby hustla_ambition101 » October 1st, 2022, 4:57 pm

AR15s and robberies seem to be the popular choice

daring dragoon
18 pounds of Boost
Posts: 2300
Joined: November 13th, 2016, 1:32 pm

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby daring dragoon » October 2nd, 2022, 9:30 am

i am thinking of a way to save money on current. where has the best price on the strip show below?

15amp-125v-ivory-7-outlet-surge-protector.jpg


so i think if i plug 6 items into this an plug it into one plug in the wall i will pay for using one item. :D :D :D

honestly i want to be able to turn off tv an stuff when not in use.

User avatar
DMan7
punchin NOS
Posts: 4036
Joined: February 2nd, 2021, 5:17 pm

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby DMan7 » October 2nd, 2022, 9:33 am

It's time to start living like the AMISH and dem, doh have to worry about saving money just live off of the land.

User avatar
matix
Shifting into 6th
Posts: 2168
Joined: October 23rd, 2008, 12:38 pm
Location: trinidad
Contact:

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby matix » October 2nd, 2022, 9:34 am

daring dragoon wrote:i am thinking of a way to save money on current. where has the best price on the strip show below?

15amp-125v-ivory-7-outlet-surge-protector.jpg


so i think if i plug 6 items into this an plug it into one plug in the wall i will pay for using one item. :D :D :D

honestly i want to be able to turn off tv an stuff when not in use.


Doesn’t work like that bud.

User avatar
snatman
I LUV THIS PLACE
Posts: 953
Joined: November 10th, 2004, 2:57 pm

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby snatman » October 2nd, 2022, 10:50 am

kadijahveronica wrote:Thinking about stashing away 50k and forgeting about it for about 2-3 yrs (rainy day kinda thing) but i would also like access to that money incase it comes sooner …any advice would be greatly appreciated…havent been up to date with who is the best


Buy 5 stocks.
Scotiabank
Republic Bank
Massy
Agostini
Prestige holdings.

You'll get about 3% in cash dividends each year, plus around 15% growth.

daring dragoon
18 pounds of Boost
Posts: 2300
Joined: November 13th, 2016, 1:32 pm

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby daring dragoon » October 2nd, 2022, 11:10 am

matix wrote:
daring dragoon wrote:i am thinking of a way to save money on current. where has the best price on the strip show below?

15amp-125v-ivory-7-outlet-surge-protector.jpg

so i think if i plug 6 items into this an plug it into one plug in the wall i will pay for using one item. :D :D :D

honestly i want to be able to turn off tv an stuff when not in use.


Doesn’t work like that bud.



was a joke. i just want the strip to switch off all electronics when no one home.

User avatar
paid_influencer
Trying to catch PATCH AND VEGA
Posts: 6803
Joined: November 18th, 2017, 4:15 pm

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby paid_influencer » October 2nd, 2022, 11:11 am

but then u wld have to wait for everything to boot up again

User avatar
sMASH
TunerGod
Posts: 21977
Joined: January 11th, 2005, 4:30 am

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby sMASH » October 6th, 2022, 8:07 pm


User avatar
sMASH
TunerGod
Posts: 21977
Joined: January 11th, 2005, 4:30 am

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby sMASH » October 6th, 2022, 8:10 pm

paid_influencer wrote:forget interest and returns and all dat chit. 50k is good for an emergency fund and you need access to that asap when it happens. put it in a regular bank account until you see the signs. when the signs appear, convert some of that money into tools, medicines, food and water. a bale of toilet paper is a savings instrument. laugh but when the chit hits the fan you want that bale. and you can drink the water.

you should have that in cash, stored safely away from where pnm grass roots might be able to find it.
the thing about banks is, by the time u figure out is time to pull out, every one else does, adn with fractional reserve, ur tt availabilty would operate just like USd,,, u will have to wait

hope the bank dont close down, but count that money as not liquid.

User avatar
paid_influencer
Trying to catch PATCH AND VEGA
Posts: 6803
Joined: November 18th, 2017, 4:15 pm

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby paid_influencer » October 6th, 2022, 8:15 pm

^^ that is why i interested in buying some gold

ttd become bolivars? gold could go with me to guyana and still have value

but from covid i learnt ppl would see a disaster coming and debate if it was real first before taking precautions. i would take precautions first and debate after

also a useful tip is in the event of a sudden disaster, good practice is to call family members asap and do not hang up once they answer. even if is just silence for an hour, the line stays open while others fighting up with the overloaded routing

User avatar
sMASH
TunerGod
Posts: 21977
Joined: January 11th, 2005, 4:30 am

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby sMASH » October 6th, 2022, 10:55 pm

paid_influencer wrote:^^ that is why i interested in buying some gold

ttd become bolivars? gold could go with me to guyana and still have value

but from covid i learnt ppl would see a disaster coming and debate if it was real first before taking precautions. i would take precautions first and debate after

also a useful tip is in the event of a sudden disaster, good practice is to call family members asap and do not hang up once they answer. even if is just silence for an hour, the line stays open while others fighting up with the overloaded routing

u have to have people willing to accept the gold as currency.

in the 1940's or when ever it was, the US got people to sell their gold for the paper dollars, adn when enough of physical gold was collected, the made use of gold for currency illegal.

if u just buying online and selling it for cash when u need cash, u need to have people expected to remain open, and reliable.



i thinking a lil more farther down the road, as in we reach venezuela stage, so i woudl rather not use ttd. but i not seeing any ting except to use USd, but USd will be tanking soon, and it not available.

an avenue that is not available or even an option, is to use rubels as it will be backed by physical gold. all other currencies is pegged to the USd, which is what ever the US authorities says it is.

biggest problem is, i have no clue how to acquire rubels, and would ahve to convince a group of people to use it for trade. quite impossible.


gold jewelry

if people willing to use items of gold as money, then that might work. u have very generic items like rings, earings, pendants, chains... that are of standard values, and people use them to trade for specific sums of money. eg, an earing is 500, pendant 1000, chain is 2000, ring 5000. so, u trade and get the standard items( that jewelers verify). when u ready to trade, u use that and make up the difference with some normal currency. could use silver pendents to make up the 10 dollar denominations.


very complicated, a whole new money system... kinda sucks.

adnj
TriniTuner 24-7
Posts: 10073
Joined: February 24th, 2014, 2:55 pm

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby adnj » October 6th, 2022, 11:44 pm

sMASH wrote:
paid_influencer wrote:^^ that is why i interested in buying some gold

ttd become bolivars? gold could go with me to guyana and still have value

but from covid i learnt ppl would see a disaster coming and debate if it was real first before taking precautions. i would take precautions first and debate after

also a useful tip is in the event of a sudden disaster, good practice is to call family members asap and do not hang up once they answer. even if is just silence for an hour, the line stays open while others fighting up with the overloaded routing

u have to have people willing to accept the gold as currency.

in the 1940's or when ever it was, the US got people to sell their gold for the paper dollars, adn when enough of physical gold was collected, the made use of gold for currency illegal.

if u just buying online and selling it for cash when u need cash, u need to have people expected to remain open, and reliable.



i thinking a lil more farther down the road, as in we reach venezuela stage, so i woudl rather not use ttd. but i not seeing any ting except to use USd, but USd will be tanking soon, and it not available.

an avenue that is not available or even an option, is to use rubels as it will be backed by physical gold. all other currencies is pegged to the USd, which is what ever the US authorities says it is.

biggest problem is, i have no clue how to acquire rubels, and would ahve to convince a group of people to use it for trade. quite impossible.


gold jewelry

if people willing to use items of gold as money, then that might work. u have very generic items like rings, earings, pendants, chains... that are of standard values, and people use them to trade for specific sums of money. eg, an earing is 500, pendant 1000, chain is 2000, ring 5000. so, u trade and get the standard items( that jewelers verify). when u ready to trade, u use that and make up the difference with some normal currency. could use silver pendents to make up the 10 dollar denominations.


very complicated, a whole new money system... kinda sucks.


in the 1940's or when ever it was, the US got people to sell their gold for the paper dollars, adn when enough of physical gold was collected, the made use of gold for currency illegal.


Nope. This is just wrong.

User avatar
sMASH
TunerGod
Posts: 21977
Joined: January 11th, 2005, 4:30 am

Re: Best place to save money right now(credit union,bank,utc,mutual funds)

Postby sMASH » October 7th, 2022, 12:13 am

adnj wrote:
sMASH wrote:
paid_influencer wrote:^^ that is why i interested in buying some gold

ttd become bolivars? gold could go with me to guyana and still have value

but from covid i learnt ppl would see a disaster coming and debate if it was real first before taking precautions. i would take precautions first and debate after

also a useful tip is in the event of a sudden disaster, good practice is to call family members asap and do not hang up once they answer. even if is just silence for an hour, the line stays open while others fighting up with the overloaded routing

u have to have people willing to accept the gold as currency.

in the 1940's or when ever it was, the US got people to sell their gold for the paper dollars, adn when enough of physical gold was collected, the made use of gold for currency illegal.

if u just buying online and selling it for cash when u need cash, u need to have people expected to remain open, and reliable.



i thinking a lil more farther down the road, as in we reach venezuela stage, so i woudl rather not use ttd. but i not seeing any ting except to use USd, but USd will be tanking soon, and it not available.

an avenue that is not available or even an option, is to use rubels as it will be backed by physical gold. all other currencies is pegged to the USd, which is what ever the US authorities says it is.

biggest problem is, i have no clue how to acquire rubels, and would ahve to convince a group of people to use it for trade. quite impossible.


gold jewelry

if people willing to use items of gold as money, then that might work. u have very generic items like rings, earings, pendants, chains... that are of standard values, and people use them to trade for specific sums of money. eg, an earing is 500, pendant 1000, chain is 2000, ring 5000. so, u trade and get the standard items( that jewelers verify). when u ready to trade, u use that and make up the difference with some normal currency. could use silver pendents to make up the 10 dollar denominations.


very complicated, a whole new money system... kinda sucks.


in the 1940's or when ever it was, the US got people to sell their gold for the paper dollars, adn when enough of physical gold was collected, the made use of gold for currency illegal.


Nope. This is just wrong.

cool. u go and spend ur gold doubloons in any american parlour. while the rest of every body dealing with the paper dollar.

Advertisement

Return to “Ole talk and more Ole talk”

Who is online

Users browsing this forum: No registered users and 217 guests