Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 11-07-2019, 06:33 AM   #801
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 22,988
Quote:
Originally Posted by ShokWaveRider View Post
Did not really have a choice, we do not like multiple institutions for our IRAs and have invested in CDs since 2000. So far fingers crossed, but we always chose highly rated Credit unions.

Why it is an different than putting $3m with one brokerage?
Oh, itís totally different!
__________________

__________________
Retired since summer 1999.
audreyh1 is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-07-2019, 06:42 AM   #802
Thinks s/he gets paid by the post
 
Join Date: Jun 2003
Location: Historic Florida
Posts: 3,696
Quote:
Originally Posted by audreyh1 View Post
When you say we - if itís a joint account (couple) you should be covered up to $500K, $250K each?
Not for qualified funds, IRAs are not joint.
__________________

__________________
"Arguing with an Engineer is like rolling in the mud with a pig. Just remember that the pig likes it."
ShokWaveRider is online now   Reply With Quote
Old 11-07-2019, 08:01 AM   #803
Full time employment: Posting here.
 
Join Date: Jun 2016
Posts: 896
Quote:
Originally Posted by ShokWaveRider View Post
Did not really have a choice, we do not like multiple institutions for our IRAs and have invested in CDs since 2000. So far fingers crossed, but we always chose highly rated Credit unions.

Why it is an different than putting $3m with one brokerage?
Brokered CDs can be peanut buttered across multiple institutions to stay below FDIC limits. The Fidelity ladder tool will assist with staying below the limits. One brokerage account holding 12 CD 250K CDs an poof everything is FDIC insured.



"Not having a choice".... what you really mean is you wanted that specific rate and took on the associated risks to get it. Psychologically the risk was mediated by choosing a higher rated institution, but then you have the institutional longevity risk of it maintaining a higher rating over the life of the CD.
Spock is offline   Reply With Quote
Old 11-07-2019, 10:01 AM   #804
Thinks s/he gets paid by the post
 
Join Date: Aug 2016
Location: Northern Virginia
Posts: 1,184
Quote:
Originally Posted by audreyh1 View Post
Potlach- haha. Quite a tradition among the PNW coastal Indian tribes for hosting big potlatches where they gave away huge amounts of personal wealth. Something cracked down upon later by the Canadian government. Funny a credit union taking that name.
Potlatch is the name of a big timber company that I think I bought out a few years ago. My guess is this is or was originally an employee credit union.
Montecfo is offline   Reply With Quote
Old 11-07-2019, 11:52 AM   #805
Thinks s/he gets paid by the post
Gotadimple's Avatar
 
Join Date: Feb 2007
Posts: 2,003
American Express High Yield Savings Account rate drops to 1.75% from 1.90% APY as of 11/7/19
__________________
Only got A dimple, would have preferred 2!
Gotadimple is offline   Reply With Quote
Old 11-07-2019, 02:20 PM   #806
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 6,092
Quote:
Originally Posted by Montecfo View Post
Potlatch is the name of a big timber company that I think I bought out a few years ago. My guess is this is or was originally an employee credit union.
Yep - the website says they started when Potlatch timber employees were having trouble borrowing money.
https://www.p1fcu.org/our-story

We just sold a little rental house and are looking for a place to put half the money - Potlatch, PSECU, GTE... Happy tip: don't read the reviews if you want to sleep well. I guess all we are hunting is insured deposit certificates, but wow are there some unhappy people out there!
__________________
"Be kind whenever possible. It is always possible." Dalai Lama
calmloki is online now   Reply With Quote
Old 11-07-2019, 02:38 PM   #807
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 4,568
Quote:
Originally Posted by Gotadimple View Post
American Express High Yield Savings Account rate drops to 1.75% from 1.90% APY as of 11/7/19
Ally Bank dropped their no penalty 11 month CD to 1.90%.
Simple does have a 2.15% MM.
__________________
TGIM
Dtail is offline   Reply With Quote
Old 11-07-2019, 05:12 PM   #808
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 22,988
Quote:
Originally Posted by ShokWaveRider View Post
Not for qualified funds, IRAs are not joint.
Oh right forgot IRAs.
__________________
Retired since summer 1999.
audreyh1 is online now   Reply With Quote
Old 11-09-2019, 03:39 PM   #809
Dryer sheet wannabe
 
Join Date: Apr 2013
Posts: 10
Centier bank has 3 year rising rate CD with a blended rate of 2.0%. Best I could find locally in Indiana.
Dhickman57 is offline   Reply With Quote
Old 11-09-2019, 04:01 PM   #810
Full time employment: Posting here.
 
Join Date: Dec 2015
Posts: 606
You can easily get > $250K (individual) or $500K (joint) FDIC or NCUA insurance by using POD beneficiaries..

https://www.depositaccounts.com/blog...ficiaries.html
24601NoMore is offline   Reply With Quote
Old 11-09-2019, 04:06 PM   #811
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 23,396
^^^ but not with IRA money
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56...60/35/5 AA
pb4uski is online now   Reply With Quote
Old 11-09-2019, 04:09 PM   #812
Thinks s/he gets paid by the post
 
Join Date: Jun 2003
Location: Historic Florida
Posts: 3,696
Quote:
Originally Posted by 24601NoMore View Post
You can easily get > $250K (individual) or $500K (joint) FDIC or NCUA insurance by using POD beneficiaries..

https://www.depositaccounts.com/blog...ficiaries.html
I do not think that works with IRAs, but I hope it does.
__________________
"Arguing with an Engineer is like rolling in the mud with a pig. Just remember that the pig likes it."
ShokWaveRider is online now   Reply With Quote
Old 11-09-2019, 04:15 PM   #813
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 23,396
Quote:
Originally Posted by ShokWaveRider View Post
I do not think that works with IRAs, but I hope it does.
You are right... it does not work with IRAs... I wish it did.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56...60/35/5 AA
pb4uski is online now   Reply With Quote
Old 11-10-2019, 06:32 PM   #814
Recycles dryer sheets
Henry Lili's Avatar
 
Join Date: Oct 2009
Posts: 178
PSECU deals are no longer available. Took a look today (11/10). I got $50k in PSEcU at 3.2% another $60k rolling off other cds this month. Have GTE 2.8% add-on as an option. Oh, well.
Quote:
Originally Posted by pb4uski View Post
You are right... it does not work with IRAs... I wish it did.
Henry Lili is offline   Reply With Quote
Old 11-11-2019, 08:37 AM   #815
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 6,092
Quote:
Originally Posted by Henry Lili View Post
PSECU deals are no longer available. Took a look today (11/10). I got $50k in PSEcU at 3.2% another $60k rolling off other cds this month. Have GTE 2.8% add-on as an option. Oh, well.
Doggone it. Too slow here.
But wait! NavyCU sent me an email just now! 3.5% to honor veterans! Cool!. except it is their Easy Start cert that does pay 3.5% for a year, but has a $5000 maximum deposit amount. Also has some other restrictions, but my excitement level dropped already.
__________________
"Be kind whenever possible. It is always possible." Dalai Lama
calmloki is online now   Reply With Quote
Old 11-11-2019, 11:38 AM   #816
Dryer sheet wannabe
 
Join Date: Nov 2016
Posts: 12
Service Credit Union - Deployed Warrior Certificate 10% up to 10K.

https://servicecu.org/rates/
zekeboz is offline   Reply With Quote
Old 11-11-2019, 12:06 PM   #817
Thinks s/he gets paid by the post
 
Join Date: Mar 2012
Posts: 1,095
Quote:
Deployed Warriors are defined as members who are assigned to or who have returned in the past 120 days from peacekeeping operations, hostile environments, or combat/war zone areas where our troops are in imminent danger of enemy attack (PCS does not qualify).
Few here will qualify.
njhowie is offline   Reply With Quote
Old 11-11-2019, 12:30 PM   #818
Recycles dryer sheets
 
Join Date: Jan 2019
Location: Sunny California
Posts: 106
5 months, 5% CD Max 25K.

California Credit Union is open to 1) those who live or work in Orange, Riverside or San Diego Counties in California; 2) employees of the Los Angeles Unified School District or Los Angeles County Office of Education, retired educators, charter school employees, college or university employees, private school employees who live in California, and P.T.A. or Alumni Association members who live in California; or 3) family of credit union members .

https://www.depositaccounts.com/bank...tml#promo39518


https://www.ccu.com/about-us/join/who-can-join
RetiredAndLovingIt is online now   Reply With Quote
Old 11-13-2019, 12:40 AM   #819
Thinks s/he gets paid by the post
 
Join Date: Mar 2012
Posts: 1,095
Ally - now 1.7%...Marcus still at 1.9%.

Quote:
An update about your Online Savings Account.

njhowie, as you may have heard, the Federal Reserve cut the fed funds rate for the third time since July. Unfortunately, like many other online banks, these rate cuts will impact the rate on your Online Savings Account.

Starting 11/13/2019, the Annual Percentage Yield (APY) on your Online Savings Account is changing from 1.80% APY to 1.70% APY. It will show online in your account details on 11/14/2019.

What this means in dollars and cents.
This 0.10% APY decrease means you’ll earn at least $5 less in interest a year for every $5,000 in your account. Interest earnings are always nice to have, but your savings strategy shouldn’t rely on that alone.
njhowie is offline   Reply With Quote
Old 11-13-2019, 06:42 AM   #820
Full time employment: Posting here.
 
Join Date: Dec 2015
Posts: 606
Quote:
Originally Posted by njhowie View Post
Ally - now 1.7%...Marcus still at 1.9%.
Ally's been one of the fastest to drop rates. Too bad..guess all of our remaining savings (what little we haven't already moved to other places) is going to have to be moved out also.
__________________

24601NoMore is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Best CD & MM Rates Thread 2018 Archive ShokWaveRider FIRE and Money 820 01-21-2019 03:26 PM
When you put 2019 as your retirement year, does Firecalc assume January 1st, 2019 ? cyber888 FIRECalc support 12 09-26-2018 10:46 AM
Noticed more people holding signs "need work or food" rayinpenn Other topics 3 05-03-2015 03:51 PM

» Quick Links

 
All times are GMT -6. The time now is 09:33 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
×