Comments on: Compounding Your Interest: How To Increase Your Saving’s Return

By: Marilyn

Marilyn — Sat, 21 Mar 2009 17:18:59 +0000

5% interest sounds terrific. Please tell me where I can find it.

By: Simon

Simon — Thu, 19 Mar 2009 06:52:37 +0000

Investing 101, but it’s so powerful… and really should be taught to every grade 12 student before they graduate.

By: Scodellaro R

Scodellaro R — Wed, 18 Mar 2009 12:38:48 +0000

It also works in the opposite way. Interest on debt. such as we are going to see in the near future to pay for all this mess. That is unless we just print our way out of it, which will make our purchasing power go down and the dollar worth less.

By: Gerry E

Gerry E — Wed, 18 Mar 2009 09:43:01 +0000

Excellent article, the obvious is not so obvious to many. Did you know that some banks and credit unions are offering current interest rates of 4% (or more) for doing direct deposit, mostly on-line banking and using a debit card vice checks for many transactions (about 12 per month).

r/ Gerry

By: Shorty (Melbourne Australia)

Shorty (Melbourne Australia) — Wed, 18 Mar 2009 02:37:27 +0000

Gday everyone, the best interest rates that I am aware of in the world are: http://www.bankwest.com.au KIDS SAVER ACCOUNT Paying 10% Interest calucated daily (Paid monthly. Operated by Bankwest In Perth, Western Australia (All deposits guaranteed by Australian government against losses) Possible witholding tax for Non Australian residents…

Or http://www.hsbc.com.tr was paying 16% before crisis, now paying 11%. operated by HSBC in Turkey, guaranteed by UK Government against losses..Its in there currency, but you can switch back to USD OR GBP accounts, when you want your money back..Or if you are planning to buy a holiday house in turkey as they are still a bargain, its a great way to save…Of course do your homework…And good luck investing Cheers…

By: J M K

J M K — Wed, 18 Mar 2009 01:41:55 +0000

But where to get that 5% rate? The best thing I have found locally are “rewards checking” accounts paying 5% interest on deposits up to $25K. They require at least one automatic deposit monthly, 10 debit card transactions per month, and provide only on-line statements to get the rate. The money is liquid. The downsides are lowered interest rates whenever the bank decides and the need to monitor usage of the debit card to meet minimums. My original checking account at the local credit union went from 5% initially in Oct 08 to 4.75 in Jan & Feb 09, and 4.5% in March. I found another bank offer with similar requirements and we’ll see how long the great rate lasts.

By: Dave

Dave — Wed, 18 Mar 2009 01:26:55 +0000

I am 50 and want to start putting $200/month into Franklin Gold Fund…9.85% yield. Shares around $25. Reinvesting the yields and buying more shares with the reinvested can you tell me roughly what that would be worth in 5 yrs…10years? Thanks

By: Godwin Aquilina

Godwin Aquilina — Tue, 17 Mar 2009 18:09:12 +0000

yes its true with 5% compound interest you earn that money, but you, forget the yearly inflation which is about 3% you just finished with only 2% with the cost of living going up everyday its not enough, on the other hand today you dont have to trust nobody.Its not worthit invest your money with the banks anymore when the ceo get millions of pounds from you and everybody lossing their funds thank ??????

By: J C

J C — Tue, 17 Mar 2009 17:29:53 +0000

Funny, I always hear about compounded interest and I never hear about compounded profits… even better, in a tax free account…. Wonder why….

By: david

david — Tue, 17 Mar 2009 16:13:27 +0000

But in most situations, in Canada at least, one is taxed on the interest annually, even though one hasn’t “withdrawn” it. That takes the gilt off the gingerbread, I think. Only in a retirement account might that not be the case.