Comments on: How Much Is 1% Really? http://www.moolanomy.com/1669/how-much-is-1-really/ Personal Finance. Investing. Wealth Building. Thu, 09 Feb 2012 18:55:29 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: defiscalisation http://www.moolanomy.com/1669/how-much-is-1-really/#comment-24217 defiscalisation Mon, 19 Oct 2009 12:36:20 +0000 http://www.moolanomy.com/?p=1669#comment-24217 yes, sometimes 1% represents a lot! funny we don't realize that! yes, sometimes 1% represents a lot! funny we don’t realize that!

]]> By: 1percenttrader http://www.moolanomy.com/1669/how-much-is-1-really/#comment-22097 1percenttrader Tue, 30 Jun 2009 22:00:37 +0000 http://www.moolanomy.com/?p=1669#comment-22097 1% is awesome, especially when you control your own investments and are able to get it once a week. I dumped my broker long ago and haven't looked back since. Compound Interest is even sweeter when I am not wasting money paying someone to handle my cash. 1% is awesome, especially when you control your own investments and are able to get it once a week. I dumped my broker long ago and haven’t looked back since. Compound Interest is even sweeter when I am not wasting money paying someone to handle my cash.

]]> By: DDFD http://www.moolanomy.com/1669/how-much-is-1-really/#comment-22048 DDFD Sun, 28 Jun 2009 14:50:15 +0000 http://www.moolanomy.com/?p=1669#comment-22048 Ah! The magic of compound interest! Great post! Ah! The magic of compound interest! Great post!

]]> By: Jim http://www.moolanomy.com/1669/how-much-is-1-really/#comment-21993 Jim Thu, 25 Jun 2009 20:37:38 +0000 http://www.moolanomy.com/?p=1669#comment-21993 When I hear "rate chasing" generally it seems to be applied to frequently moving your savings around to keep it in the online account that has the highest interest rate at any given time. And generally I don't think its applied to moving from 1% to 2% but more like moving from that Ally account at 2.0% to a Bank of Internet account at 2.06%. I certainly think getting 1% more interest over the long term is worth it. But constantly moving your money around high yield savings accounts to chase a 0.0x% difference every month or week is really not worth it. Jim When I hear “rate chasing” generally it seems to be applied to frequently moving your savings around to keep it in the online account that has the highest interest rate at any given time. And generally I don’t think its applied to moving from 1% to 2% but more like moving from that Ally account at 2.0% to a Bank of Internet account at 2.06%.

I certainly think getting 1% more interest over the long term is worth it.

But constantly moving your money around high yield savings accounts to chase a 0.0x% difference every month or week is really not worth it.

Jim

]]> By: Ryan Smith http://www.moolanomy.com/1669/how-much-is-1-really/#comment-21977 Ryan Smith Wed, 24 Jun 2009 22:59:00 +0000 http://www.moolanomy.com/?p=1669#comment-21977 You are very right about improving you credit score to get better rates. A half percent rate difference adds up on a 15 or 30 year mortgage. You are very right about improving you credit score to get better rates. A half percent rate difference adds up on a 15 or 30 year mortgage.

]]> By: Cat http://www.moolanomy.com/1669/how-much-is-1-really/#comment-21974 Cat Wed, 24 Jun 2009 18:03:12 +0000 http://www.moolanomy.com/?p=1669#comment-21974 I love compound interest, but my main concern is that rate chasing hasn't paid off for me in the past. I started an HSBC account. They dropped their rate, so I switched to ING. They dropped their rate, so I switched to Etrade. Now I'm looking at Ally and wondering if after I go through the hassle of changing they'll drop their rate after a month and I'll be right back where I was, but with one more account to keep up with. I think I'll wait for things to stabilize before I go back to my rate chasing ways. I love compound interest, but my main concern is that rate chasing hasn’t paid off for me in the past. I started an HSBC account. They dropped their rate, so I switched to ING. They dropped their rate, so I switched to Etrade. Now I’m looking at Ally and wondering if after I go through the hassle of changing they’ll drop their rate after a month and I’ll be right back where I was, but with one more account to keep up with. I think I’ll wait for things to stabilize before I go back to my rate chasing ways.

]]> By: My Journey http://www.moolanomy.com/1669/how-much-is-1-really/#comment-21971 My Journey Wed, 24 Jun 2009 16:35:44 +0000 http://www.moolanomy.com/?p=1669#comment-21971 Pinyo, Regarding the rate chasing for saving accounts - I couldn't disagree more. You think the headache of rate chasing, having how many bank accounts open, the tax documents, etc. is worth an extra $166 a year (or $13 bucks a month)?! Not to mention the bank can change their terms at any time. As far the investment fees, I agree. It may sound counterintuitive but I view them differently Pinyo,

Regarding the rate chasing for saving accounts – I couldn’t disagree more. You think the headache of rate chasing, having how many bank accounts open, the tax documents, etc. is worth an extra $166 a year (or $13 bucks a month)?! Not to mention the bank can change their terms at any time.

As far the investment fees, I agree. It may sound counterintuitive but I view them differently

]]> By: Mike Piper http://www.moolanomy.com/1669/how-much-is-1-really/#comment-21969 Mike Piper Wed, 24 Jun 2009 11:42:46 +0000 http://www.moolanomy.com/?p=1669#comment-21969 Indeed. This is what John Bogle refers to as the wonderful magic of compound returns and the powerful tyranny of compound costs. I'm nothing short of miserly when it comes to my investment costs. :) Indeed. This is what John Bogle refers to as the wonderful magic of compound returns and the powerful tyranny of compound costs.

I’m nothing short of miserly when it comes to my investment costs. :)

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