Hi I’m new to the forums but I’ve been reading for a while…
I had this crazy idea this morning. I’m going on a honeymoon to Prague, and so I found myself looking at exchange rates for CZK. I guess it doesn’t surprise anyone that the dollar is quickly losing value against this (and maybe every other) currency. As an example, it seems that in maybe October-November of last year, I could get 20CZK = 1USD. Now it is 16CZK = 1USD. If I’m not mistaken, I lost 20% purchasing power in a few short months. So I’m thinking it’s prudent to exchange whatever dollars I might spend ASAP to CZK.
My “crazy” idea was this: I was just wondering how bad off I would be, if I took my savings out of ING, and exchanged it for a mixture of foreign currencies, and then stuffed that underneath my bed. My intuition tells me I would be doing a hell of a lot better than ING. Can someone bring me back down to earth and explain why this might be a bad idea?
That’s not crazy. At least you are not going negative on your savings with dollar devaluation and inflation. Besides, ING is not FDIC insured, so keeping it under your mattress may be safer.
I had $14K in a TD Ameritrade savings account in June of 2005. I withdrew it and bought 2 vending machines and put them in an outdoor mall. I clear $650 a month. Doesn’t sound like much, but that’s a 56% annualized return on my $14K. After you factor in 17% inflation for the past 2 years, that’s still 39% return.
That’s not crazy. At least you are not going negative on your savings with dollar devaluation and inflation. Besides, ING is not FDIC insured, so keeping it under your mattress may be safer.
I had $14K in a TD Ameritrade savings account in June of 2005. I withdrew it and bought 2 vending machines and put them in an outdoor mall. I clear $650 a month. Doesn’t sound like much, but that’s a 56% annualized return on my $14K. After you factor in 17% inflation for the past 2 years, that’s still 39% return.
That’s not crazy. At least you are not going negative on your savings with dollar devaluation and inflation. Besides, ING is not FDIC insured, so keeping it under your mattress may be safer.
I had $14K in a TD Ameritrade savings account in June of 2005. I withdrew it and bought 2 vending machines and put them in an outdoor mall. I clear $650 a month. Doesn’t sound like much, but that’s a 56% annualized return on my $14K. After you factor in 17% inflation for the past 2 years, that’s still 39% return.
That’s not crazy. At least you are not going negative on your savings with dollar devaluation and inflation. Besides, ING is not FDIC insured, so keeping it under your mattress may be safer.
I had $14K in a TD Ameritrade savings account in June of 2005. I withdrew it and bought 2 vending machines and put them in an outdoor mall. I clear $650 a month. Doesn’t sound like much, but that’s a 56% annualized return on my $14K. After you factor in 17% inflation for the past 2 years, that’s still 39% return.
