2nd job

[mmg19]

Hope this goes well.  Today I start after school tutoring for 2 hrs. after completing a full day teaching.  With 2 teenage boys and college on the horizon (4 yrs.), this seems like the best way to add to the college fund. 

 

It will be M-F 2hrs. a day and I'm actually excited about getting the job. Same school where I teach and boys no longer need a sitter after school so it is a good fit.  My number crunching tells me I need to find a way to get back to 6% interest on the principle.  Is this a thing of the past?

[serpico]

My number crunching tells me I need to find a way to get back to 6% interest on the principle.  Is this a thing of the past?

 

Not sure what this is?

[Lmsmdm]

I think 6% rate of return is still the goal, but I am no expert.

[mmg19]

Yes I am referring to rate of return.  This is not money to risk. SAvings accounts and/or CD's are under the once safe place paying 6 percent    Age based 529's have moved them out of stock market into safe accounts. 

 

Serpico - I believe you are in banking.  Is there a safe way to reach 6 percent on the principle?

[Portside]

I pretty sure there are guaranteed income Mutual Funds still around I think but they sure as hell don't pay 6% per annum. They have returned between 1 and 2% for the last two years or so if I remember correctly.

 

Honesty, talk to a financial guy/gal but I don't think you are going to find that return for the level of risk you are willing to assume.

 

Of course you could sell heroin or run for public office and make a killing - BUT, you'll have to sell your soul and consequently go to hell when you die.

 

Which I know you don't want. Good luck - Mike

[Guest Justme2]

Huge risks right now w stocks. I remember decades ago getting 7 % sadly those days are history.

My friend just lost 100 k investing in the stocks. I wouldn't touch them.

[Guest nonesuch]

I don't know about 6%.

 

but, (sigh) have you checked around to banks lately?  It's an awful hassle to switch, but one of the credit unions near me was paying 3% on a checking account, up to $10,000. There are conditions: you have to actually have transactions on the account, you can't just park your money there.

[MR]

Hi mmg19,

6% with secured principal is tough in most of the markets now-a-days. The only thing I can think of is buying a property and renting them but of course it depends on your total investment. Investing in blue chips which pays good dividend is one of the ways to go. Normally market turmoil will touch them but in long ran should be fine.

 

Tx

Manoj