My recession proof investment plan, guarnteed 3+% return.
So with the US (and Global) economy in ruins, I decided to take another look at the way I have been investing. With my individual stock portfolio falling about 50% in the last 2 weeks, I’ve decided to guarntee myself an investment return. How you may ask? I opened a new account with E-Trade who gives a 3.3% return on their savings accounts.
Hope you all the best in these rough times also..
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Nice writing. You are on my RSS reader now so I can read more from you down the road.
Allen Taylor
You are aware that You are aware, that a bank that gives high interest usually do it because they have problems in getting money in another way. This was true for the Icelandic banks e.g. In Finland and in the Netherlands at least, they gave an interest on about 5 % on their savings account. The bank went under, and the Icelandic didn’t have enough money to pay back the guarantee, in the Netherlands the government bailed the customers out.
I do not know anything about E-trade. But I am just saying you are never guaranteed anything, you just go with less or more risk
Ah, great considerations eki.
I looked much into etrades financials, included but not limited to their new CEO (he joined on board with no pay, stock ONLY, now if he thought it was going to 0 do you think he would have taken that deal?).
They rid themselves of most the bad debts, and they have a very sound business model with their brokrage (which I also have an account with).
I actually trusted their way so much I not only became a customer, but I became an investor and have actually moved some of my stock assets from another brokrage to theirs (initiated that friday, going to take a while to transfer).
Also, I believe WORST CASE that they would be purchased by another brokrage (if they started doing really bad, which I don’t expect) as most brokrages actually like e-trades business model.