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Is ING Direct a good, solid investment? Should I put my life savings there? |
Bill W - you stole my name LOL ING is a sound and strong company. Your savings will be FDIC insured up to 100,000. Now as to the question of should you put your life savings there. No. Not your entire life savings. The roi will not be sufficient to keep you ahead of inflation after taxes. Maybe 10 to 20% of you your life savings. Invest the rest in investments that are likely to keep you ahead of inflation and taxes. But diversify! I don't know if you should put your life savings there, only a financial planner can tell you that. However, I can tell you that I have used ING Direct for my primary savings for several years now, have never had a problem, have always had incredibly high interest rates, and I could always access the money without any fees, quickly. While I haven't been able to find anything derrogatory about ING Direct, I wouldn't put my life savings there. There are plenty of safe (albeit low interest) investments available. Try U.S. Treasuries or mutual funds from groups like Franklin-Templeton, Columbia Management or invest in Direct investment plans (DRIPs). There are also mutual funds with $100, $500, and higher minimum investments. Most are also covered by the FDIC, as is ING. Keep your porfolio diverse and you can weather whatever financial condition comes your way. Try Ethanol.. I have invested in Ethanol Companies and have seen a 36%ROI. Yes. ING Direct is a very good investment because they have very high APR% rates for you to increase your investment I have an online savings account at ING and like the service. The rates are good too. Depending on your age (the older you are, the much money you should have in bonds and savings account), you should have some money in the stock market. never put all your eggs in one basket. If you're talking about as a savings acct. No. The return is too low. It is probably a solid financial co. to invest in. (I wished I had a few years ago...) but never invest everything in one stock. One of the most basic rules in investing. |
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