Quote:
Originally Posted by packs
Ok well do you guys have 401K's or some other retirement plan? If so, why didn't you just pour that money into a few cards?
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I have a rollover 401k. As those rules are, it is tax deferred until I take it out and earns interest that way, compounded. Most of that is in Fidelity Index 500 fund shares. I prefer to leave that alone as to diversify a bit (and not pay the 10% penalty to take it out for cards). Everyone has their own methods. I always think of this imaginary, but oft used, financial "pie" in my head and know there are many pieces for a reason. If I only had 1 piece of pie that piece wouldn't be cards. It would probably be the Fidelity Index 500.....
Having very much money in a savings or other cash type account is actually like losing money in today's economy. All in my humble opinion...
*AND Please seek professional tax and estate planning advice and don't rely on anything I say
. I had to sell my whole collection to fund a college degree.....LOL
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