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Your interest wasting account.

|Includes: Aspyra Inc. (APY-OLD)

As of today's post the best performing Savings Account Interest Wasting Account APY was -5.97%Article A So I asked my self why am I just throwing money away?

Why should I put 6-12 months of living expenses in to a low risk savings account that would help me out if I lost my job?  I thought about this over and over again and I finally came up with...

If I created an account thats' sole purpose was a safty net for when I lost my job I must be doing some thing wrong, so I no longer have a savings account with 6-12 months of living expenses since I am the best and I would never do something stupid to get fired.
 
Oh Oh, what about the reasons outside of me that could land me in the unemployment line such as the current economy?

For those tough times I have a standard investment account that mimics the S & P
  1. I started the account with what used to be in my Interest Wasting Account
  2. I add 5% of my income to this account and 15% to my other accounts
  3. I started this account in April of 2009 so in a few weeks I will be able to withdrawl with out getting hit by short term cap gain tax if I needed to.

If all else fails and I need my money I can take one lump sum ( the money that has been invested longer than a year) with smaller withdrawls if needed every 2 weeks after the lump sum.

Yes this would all be taxed but all said and done my gains would be greater in the S & P compared to a savings account.

I know i decided to get in to investing @ the perfect time but besides the most recent decade I think any 5 yr period the s and p would have beat the average savings rate.


Article A- This was figured out by taking the first quarter S & P return of 6.17% minus the average savings rate of .2%