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Title: PayPal Money Market Fund Post by: Izret101 on March 26, 2006, 02:35:26 PM Anyone a member?
Anyone know anything about it? Besides what i read on their site. I just signed up for Paypal and am debating weather or not i should sign up for this aswell. I didn't spend much time going over this kinda fund in my investing class and don't remember much from the class in general to be honest. Title: Re: PayPal Money Market Fund Post by: Hydrobond on March 26, 2006, 04:42:22 PM So does Pay Pal give you interest on the money that you have in your account?
Title: Re: PayPal Money Market Fund Post by: Izret101 on March 26, 2006, 04:54:17 PM Quote When you sign up for the Fund, your PayPal balance will translate into shares of the Money Market Fund, though the function of your PayPal account will not change. You will be assigned shares of the PayPal Money Market Fund automatically, and you will begin to earn monthly dividends. In addition to dividends, you are entitled to participate in events such as shareholder proxy votes. The current yield is 4.33% Quote Unlike checking accounts, money market funds are neither insured nor guaranteed by the FDIC or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 USD per share, it is possible to lose money by investing in the Fund. Distributed by Funds Distributor, Inc. To learn more about the Fund and its expenses, read the prospectus carefully. Here is the link to the prospectus https://www.paypal.com/en_US/pdf/PayPal_Prospectus.pdf I will probably just sign up for it. Take my chances for now and if at anypoint i "lose" money just cancel it... Title: Re: PayPal Money Market Fund Post by: Mezmoron on March 27, 2006, 09:01:57 AM Keep this in mind man....
I have $10,000 in a Money Market account with Capital One that is at a 4.2% rate. I only gain about $33 a month in interest. If you tie up only $1,000, you'd gain about $3.30 a month. If you put in less than that, I'm sure you can do the math. Also, don't forget that you have to pay taxes at the end of the fiscal year on any interest gained! Ken Title: Re: PayPal Money Market Fund Post by: Hydrobond on March 27, 2006, 10:43:49 AM Interest is exactly why the rich get richer and the poor get nothing.
If you start off with $1,000,000 and put it into a money market or mutual fund, you can make $40,000 a year without doing a damn thing.  If you can manage to put any more money in, it just gets better.  Starting with $1000 or less is hard, but starting now is much, much better than starting later. Take advantage of it if you can. There may be better alternatives out there than this though. If you assume more risk you can potentially get interest up into the double digits. Look into high yield funds and compare with the PayPal fund. Title: Re: PayPal Money Market Fund Post by: Izret101 on March 27, 2006, 11:23:20 AM Yea i know the more risk i assume the more money i can make.
But also the more money i can lose. I think i am going to give this a try and see how it turns out on my next and first fiscal year. I forgot about having to pay taxes on the money though...(thanks for informing me) I am not sure i like that idea. I am going to have to make sure this pays on acrewed interest too. That way i gain interest on my interest and not just money i specifically put in there. Title: Re: PayPal Money Market Fund Post by: Izret101 on March 27, 2006, 03:21:02 PM Have to be 18 to sign up.
I was just denied. Guess i will try again in a month. Title: Re: PayPal Money Market Fund Post by: The Metamorphosing Leon on March 27, 2006, 05:51:49 PM Quote Have to be 18 to sign up. I was just denied. Guess i will try again in a month. :owned: |