Comments on: 5 Reasons to Dump Your Savings Account for a Brokerage http://www.fiscalfizzle.com/2009/08/investing-or-savings/ Spicy Thoughts on Personal Finance Sat, 31 Jul 2010 12:23:48 -0700 hourly 1 http://wordpress.org/?v=3.0.1 By: Online Scrabble http://www.fiscalfizzle.com/2009/08/investing-or-savings/#comment-571 Online Scrabble Sat, 29 Aug 2009 17:23:47 +0000 http://www.fiscalfizzle.com/?p=2011#comment-571 [...] 5 Reasons to Dump Your Savings Account for a Brokerage at Fiscal Fizzle [...] [...] 5 Reasons to Dump Your Savings Account for a Brokerage at Fiscal Fizzle [...]

]]> By: Joe Plemon http://www.fiscalfizzle.com/2009/08/investing-or-savings/#comment-570 Joe Plemon Tue, 25 Aug 2009 16:48:48 +0000 http://www.fiscalfizzle.com/?p=2011#comment-570 Put me down for "on the Money" (see end of your post). We haven't had a savings account for many years. I too like the simplicity of fewer accounts and I never did really understand the purpose of a savings account. Now I will admit that we have a Money Market account at our investment brokerage that we use for our emergency fund savings and right now it is paying zilch...so I could be wiser. But I agree with your premise. Well said! Put me down for “on the Money” (see end of your post).

We haven’t had a savings account for many years. I too like the simplicity of fewer accounts and I never did really understand the purpose of a savings account. Now I will admit that we have a Money Market account at our investment brokerage that we use for our emergency fund savings and right now it is paying zilch…so I could be wiser.

But I agree with your premise. Well said!

]]> By: arohan http://www.fiscalfizzle.com/2009/08/investing-or-savings/#comment-569 arohan Mon, 24 Aug 2009 19:51:42 +0000 http://www.fiscalfizzle.com/?p=2011#comment-569 Perfect! Likewise, I do not use a savings account per se. It is just an abstraction on top of my portfolio. After all, asset allocation is what is important and my portfolio at my brokerage is enough for me to accomplish this. Best of all, it allows me to increase the exposure to equities (meaning less in cash) when the markets are cheap. And since I do have margin privileges (which I do not much use), in an emergency I have access to cash on par with a bank savings account (almost, my electronic fund transfer takes a day to reach my checking account). I view my checking account as purely a transactional account. Income comes in and is allocated to mortgage, brokerage, etc. Perfect! Likewise, I do not use a savings account per se. It is just an abstraction on top of my portfolio. After all, asset allocation is what is important and my portfolio at my brokerage is enough for me to accomplish this.

Best of all, it allows me to increase the exposure to equities (meaning less in cash) when the markets are cheap. And since I do have margin privileges (which I do not much use), in an emergency I have access to cash on par with a bank savings account (almost, my electronic fund transfer takes a day to reach my checking account).

I view my checking account as purely a transactional account. Income comes in and is allocated to mortgage, brokerage, etc.

]]> By: Personal Finance Buzz http://www.fiscalfizzle.com/2009/08/investing-or-savings/#comment-568 Personal Finance Buzz Mon, 24 Aug 2009 16:00:35 +0000 http://www.fiscalfizzle.com/?p=2011#comment-568 <strong>Personal Finance Buzz...</strong> Your story was featured in Personal Finance Buzz! Please visit and promote your article.... Personal Finance Buzz…

Your story was featured in Personal Finance Buzz! Please visit and promote your article….

]]>