Certificate of Deposit accounts are a an extremely safe situation for you to deposit your money. Educating yourself about CDs is a benefit to you if you want to keep your money safe and sound.
And you don’t just have to worry about theft…there’s always a threat of fire, flood, earthquake, alien invasion…well okay, strike that last one. But natural disasters do occur, and banks are not immune to these things.
Priceless memorabilia like photos or disks with your pictures should also be kept, specifically in a fire proof safe. When you think about all the valuables you own, most can be replaced, but your family photos cannot. Protect them in a fireproof safe. If your pictures are on computer drives or disks you will need to make sure the safe you own has the right protection. Some safes only provide fire protection to papers and other items that do not melt. You will need to make sure you have chosen one that is specifically meant to protect computer equipment.
Austria, Switzerland and Luxembourg are traditional safe havens that are perfect for watch safe boxes. A good country for a box is one where there is no need to show a passport or go through any formal border controls. This is not the case with Switzerland – unless you take your chances on one of the very few unmanned border crossings!
It is hard to stop spending money. We are so indoctrinated into believing that we can just buy now and pay later. What we aren’t told over and over again is that when we pay later, we pay big time.
How about your jewelry or other valuable possessions? Face the fact, it is just not safe to keep these valuables in a jewelry box in your bed room. The best place is in a safe, where burglars would have an extremely difficult time getting to them.
Another benefit is a return on your investment. Depending on the term of your certificate of deposit, the bank pays you interest. The interest is commonly expressed as the APY (annual percentage yield). If you invest $100,000 and the bank is paying you 3.00% APY for a 1-year CD it is easy to calculate your earnings. Another hidden benefit of CDs, it isn’t tough to figure out what you will earn. You simply take the $100,000 times 0.03, and you’ll earn $3000. There are lots of places on the internet that have on-line calculators as well. If you open up a 5-year CD, you basically multiply the 1-year earnings times five. Another hidden benefit is the power of compounding. With the above example you would actually earn closer to $16,000.
Usually, there is an itemized receipt accompanying your deposit check. If there is not and you feel that the landlord took to much, you have every right to call him and tell him to produce a receipt. If he has nothing to hide, he will send it right out. However, if there is something to hide and they are not willing to give you your money back, then you will probably need to take him to small claims court.