Here's FREE Money!! Many of my co-workers, friends, clients and fellow Active Rain members are looking for ways to diversify their income right now in this changed market. As we are all aware, many Companies are consolidating, cutting back, laying off people, letting go of assistants, and in some cases, even closing their doors for business. According to ML-Implode, many mortgage brokers and lenders have gone out of business.
Some of these companies affected are my clients, co-workers, friends, family and business acquaintances! I truly have a heart for their well-being and for what's going on in our industry right now. A lot of us have benefited from the last 5 years of a great market with increased property values, low interest rates, and major growth to our financial wealth and freedoms. As the market adjusts to wherever it's going, I was just curious, how many of us have been saving and putting away for this very time and circumstance? It's NEVER TOO LATE!
When I returned from the Islands to the Mainland in 2005, I discovered that ALL the money I had been saving in the Bank over the years was NOT giving the same return on my investment as Real Estate. Yet I continued to keep my savings in accounts like Bank of America and Wells Fargo. When I received my 1099's to do my taxes, I realized I was making such a small amount of interest on my savings. Only .01% on my total savings amount!
Here's the honest truth of how I learned about this FREE money opportunity.
Before I returned from Hawaii, I made a promise to my oldest son that if he graduated from High School with a 4.0 GPA, I would match whatever amount he had saved up until his graduation day. Well that day finally came. When I asked to see his bank account statement, he showed me that he had managed to save just over $10,000! I just about fainted! I even had to check with the bank to make sure he wasn't pulling a fast one over on me. LOL! The amount was confirmed! It's true! I had to write my son a check for $10,000 dollars on his 19th Birthday, just after his High School Graduation.
He had taken every penny ever saved since age 5, and put it into a savings account. This is when he told me about ING.com and EmigrantDirect.com. He told me that they payed 5.02% interest compounded monthly and that there is no penalty for withdrawals, the account only needed $1.00 to remain open, and it was Federally Insured by the Government up to $100,000 Dollars. See why he goes to Cal Poly? My son became my hero that day. I immediately pulled all my savings, and put it into EmigrantDirect.com. Now, the interest I earn helps me to pay my property taxes each year. (as sad as that may be) This is just what some of us need right now. Here's a breakdown of what this could mean for you!
$10,000 = $50.00 per mo. $25,000 = $150.00 per mo. $50,000 = $250.00 per mo. $100,000 = $500.00 per mo.
All of these amounts are compounded "monthly" based on the total amount you build in the account. It Grows!!!
I am sharing this with you not because I am working or advertising for either of these companies, I'm just not sure how many of you know this is out there and available to you right now! If I can help you get some of this "FREE Money", then this post will likely be worth more than any other I have ever posted on my Blog! I know this is helping me in today's economy and market, I hope this will help you too! Are You SavING? Maybe DiversifyING? I'm Just CheckING! Here's FREE Money! The truth is; A Quarter Saved is a FREE Penny Earned!!
Disclaimer: You will be taxed on the interest paid as income. You will receive a 1099 form just like you do on a savings account.
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