So I’m attempting to save lots of about 30k to pay off student loans before I graduate in 3 years. I just opened an account with prosperity simple and I’ve got one with EQ for approximately two years. I understand that investments are likely to do better over the long run and growth can’t be timed for when you wish to exit. In that sense, could it be better to just stick to the guaranteed 2.3% interest at EQ than hope my investments will actually grow at the pace projected by someone making money off me?
Thanks everyone. This has been helpful really. I figured as much. So at least I haven’t lost a lot of my own hard earned money :/ So why would anyone trouble to invest? I understand that after the 2008 turmoil, those who didn’t sell when it tanked eventually made a comeback but that took like a decade. If you needed that money for something that yr or there after you were fundamentally screwed. So are you really likely to make any good income as time passes ever?
500 and hadn’t chosen to report the interest every year. 700 was contained in your uncle’s property. 200 accrued fascination with your uncle’s last income tax return. 200 is income according of the decedent. You are a cash method taxpayer , nor choose to record the interest each year as it is gained. 300 as interest when you cashed the connection at maturity.
300 is the interest … Read the rest