Punny Poll #25: Where Do You Keep Your Savings?
Author: Nick
Category: Money
Topics: poll, savings
I was shocked to learn that, according to the results of the last Punny Poll, over 90% of you wonderful readers don’t have a business of your own. Not even a side business! And nearly all of you non-businesspersons have no interest in starting a business ever. Yes, starting a business can take some time; but it no longer takes a whole lot of money thanks to the power of the internet, and owners of even the tiniest of side businesses can earn hundreds of thousands of dollars more over their lifetime than their counterparts who solely “work for the man.”
There’s been a lot of talk lately about finding better places to save your money with high-yield savings account rates dropping and the stock market acting more like a random number generator than anything else. It’s interesting to see where people like to stash their cash, so Punny Poll #25 asks exactly that.
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4 Responses »
1.
plonkee
October 10th, 2007 at 2:39 pm
Its mostly in savings at the moment, but I’m putting more into an index fund in an attempt to change to a better allocation.
2.
shraz
October 10th, 2007 at 3:16 pm
Mostly CD’s some in savings.
3.
Mrs. Micah
October 10th, 2007 at 7:53 pm
CDs & plain old savings. Should have gone with liquor, in retrospect.
4.
Ivy
October 10th, 2007 at 11:58 pm
Hi,
I adore your blog, and find myself oft agreeing with much of what you say (even when you “future blog”!).
However, I must take issue with your “random number generator” comment regarding the markets.
It is true that some sectors’ volatility has increased more than twice what it was at the close of 2006. However, with volatility comes opportunity (mining, commodities, foreign equities, multinationals, “gadget” tech, ag, [heavy] construction, fast food), as well as heartache (brokers, builders, much retail, many finances).
This is a period that just begs to own serious multinational plays, as well as some more defensive ones. It’s not that a portfolio needs to be completely balanced - but it does need fluidity to respond to unforeseen stimuli. I’ve worked very hard this year to maintain strong growth, and our portfolios have rewarded us with records across the board - and not just because of owning GOOG, LFC, or SNP. Stalwarts including GE, MCD, and UN really work well because of their international business diversification (a significant criterion present in my screening boards - which generally means combing through statements to add up numbers - includes the percentages of sales, revenues, and earnings earned internationally for “domestic” companies).
For further study, check out MTW, AME, SSW, UN, ADM, and SIAL.
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