Comrade Financial Group has several strategies using tried and true methods for clients and all residents in Maryland, DC and Virginia. Remember to keep your money safe!

How Safe is your money?

Safe money is a concept of investing through certain investment and insurance products where there is little or no chance of loss of principle. Safe money is money you cannot afford to lose. Safe money is the money you need and it’s there when you need it. Safe Money is keeping your money and not overpaying in taxes when you don’t have to. Below are some things you can do to keep your money safe.

Places to Keep your Money Safe

Annuities

Explore our site and take a look at all of the Annuity pages to see the advantages of investing in Annuities. There are many advantages of annuities not only as the result of compounding of compounding of interest but many tax advantages as well. Explore the annuity section of the site to see how your money is safe in annuities. Just like CD’s, Fixed Annuities can be laddered to keep your money safe and liquid as well.

Life Insurance

Life insurance comes in many shapes and forms but ultimately protects the life of the insured. Term is pure protection while Whole Life can build cash value and provide returns on your premiums as well as insuring your life. Explore the Life section of our site and see how your money can be safe using life insurance.

EE Bonds and I Bonds

Savings bonds are non marketable securities issued by the US Treasury Department. These are purchased or sold by agents authorized by the Treasury Department. Savings Bond interest is exempt from all state and local income taxes. You get the interest on these bonds when they are redeemed. We however do not offer bonds.

Certificate’s of Deposit and Money Market Accounts

Keeping your money liquid and safe is all I can say about these safe places. I hope and pray that CD rates will eventually go back up. Money Market accounts are also a great way to keep your money liquid but again rates have been terrible low for some time now and who knows when they will return to pre crisis levels. The last time I checked, CD rates were just horrible and Money Markets were horrible as well, but its safe.

Places that Risk the loss of your Money – Not Safe

Not Safe places to keep your money are below and the reason why is because there is a chance where you could lose principal and any interest gains due to external forces and circumstances that are not controlled by you. Granted there are chances where your money will grow bigger and faster but the potential for loss is that much greater.

Mutual Funds

Mutual funds are not FDIC insured as well as how in the world do you choose? Currently there are over 10,000 Mutual Funds that are available right now. Most mutual funds cannot be traded in the middle of a trading day, thus sit back and watch it go down the tubes.

Commodities

Have you ever seen the movie Trading Places? Putting your money in commodities is risky and the potential for loss is too great for my wallet.

Real Estate

There are too many outside forces at play to really consider that Real Estate is a Safe place to put your money. Sure, buy a home and live in it. That is about it. On the Deed of trust does it say what you can sell the property for when you decide to leave?

Stocks

I vividly remember the onset of the financial crisis, watching CNBC and seeing the 300, 400, and even 500 drops on the DOW and S&P as well as the NASDAQ. Many people still don’t even realize how much they lost during that time. Some were wiped out completely and are still working, but can’t retire. Need I say more. If you have to time read 7 newspapers daily and spend other countless hours like Warren Buffet, then it could be safe.

Bonds

U.S. Treasury Bonds and Bills are direct government obligations. If you hold them until the full maturity you will, unless there is a Default of the U.S. government, get the stated value at maturity. However, what if you need the money now, there is no way of telling what you would receive if you cashed the bonds in now.

It is always better to be safe than sorry.