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04-16-2013, 10:31 AM
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#1
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gone traveling
Join Date: Mar 2007
Posts: 559
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former cd suggestions
well it happened. the CD i talked about on another thread. expired. it was 3.3 percent.
although i am a platinum member at bank of america the best rate i could get if i renewed was .45 for 4 years plus.
i opted to put the 75,000 dollars in my savings account paying .35 anyways.
my wife and i are looking for options. we would rather not let this extra money sit there.
the one proviso is this. MY WIFE insists on no other providers other than the 2 brokerage house we currently use-fidelity and troweprice.
so i'm open for suggestions with either one.
she is adamant about no more providers. i tried to talk about wellington and got a no-no new providers.
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04-16-2013, 10:44 AM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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How about a CD with a credit union (pen fed) or Ally? Pretty simple to open a bank/credit union account.
If not, see if you can find a secindary market CD at one of your brokerages that you someone is selling. Sometimes you get slightly more yield that way.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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04-16-2013, 10:48 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Bernalillo, NM
Posts: 2,717
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What about making a CD ladder out of it? that may mitigate the current rates.
__________________
"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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04-16-2013, 11:03 AM
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#4
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gone traveling
Join Date: Mar 2007
Posts: 559
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Quote:
Originally Posted by brewer12345
How about a CD with a credit union (pen fed) or Ally? Pretty simple to open a bank/credit union account.
If not, see if you can find a secindary market CD at one of your brokerages that you someone is selling. Sometimes you get slightly more yield that way.
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sorry -no new institutions
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04-16-2013, 12:41 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Nov 2012
Location: Madeira Beach Fl
Posts: 1,403
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Use Fidelity's stock screener to check out cumulative preferred stocks.
__________________
_______________________________________________
"A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do" --Bob Dylan.
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04-16-2013, 04:08 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Feb 2011
Posts: 1,797
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Or perhaps a short-term bond ETF?
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04-16-2013, 04:57 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Jun 2004
Location: W Wash
Posts: 1,644
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look at PFF--etf for prefers--at fido you can buy with no transaction cost. Has more risk than a CD but yields are above 5. In yesterday's market chaos, price dropped less than a dime.
Nwsteve
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04-16-2013, 05:23 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Quote:
Originally Posted by nwsteve
look at PFF--etf for prefers--at fido you can buy with no transaction cost. Has more risk than a CD but yields are above 5. In yesterday's market chaos, price dropped less than a dime.
Nwsteve
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Way, way more risk than CDs. May or may not be appropriate for OP, but it needs to be said.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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04-16-2013, 06:35 PM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 9,072
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Quote:
Originally Posted by brewer12345
Way, way more risk than CDs. May or may not be appropriate for OP, but it needs to be said.
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Brewer, what's your thoughts on WIW these days? I remember not long ago you said you had been buying some. Currently selling at a 11% discount. Probably not a good CD substitute for the OP as it dropped like a rock when the market crashed in 2008. But for some of us willing to take on a little more risk......do you like?
CEFs | Guggenheim Investments
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
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04-16-2013, 06:59 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Quote:
Originally Posted by Dawg52
Brewer, what's your thoughts on WIW these days? I remember not long ago you said you had been buying some. Currently selling at a 11% discount. Probably not a good CD substitute for the OP as it dropped like a rock when the market crashed in 2008. But for some of us willing to take on a little more risk......do you like?
CEFs | Guggenheim Investments
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I have bought quite a bit of it. I have a strategy for CEFs (more fully described here Life, Investments & Everything: How to Buy a Dollar For 90 Cents) which involves finding fixed income CEFs which are not dogs but are selling at at least a 10% discount and hanging onto them until the discount closes. At the moment, WIW is the only CEF which meets my screening criteria, so I own a chunk.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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04-16-2013, 07:08 PM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2009
Posts: 5,308
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If you were willing to buy Wellington (which is apparently closed to new investors through Fidelity)....maybe buy Wellesley through Fidelity?
https://fundresearch.fidelity.com/mu...mary/921938106
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04-17-2013, 12:09 AM
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#12
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Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
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And why not ? I am happy with Edward Jones, as they always get me the best CD rates. All the interest amounts are paid directly into my BoA checking account.
Quote:
Originally Posted by gerrym51
sorry -no new institutions
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__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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04-17-2013, 03:34 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Jul 2007
Location: St. Louis
Posts: 1,563
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Quote:
Originally Posted by obgyn65
And why not ? I am happy with Edward Jones, as they always get me the best CD rates. All the interest amounts are paid directly into my BoA checking account.
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What kind of rate have you got recently? Just wondering.
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04-17-2013, 03:57 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Jul 2012
Location: Mississippi
Posts: 1,894
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What sort of risk are willing to take ? It's a big step going from a CD to wellington or even wellesley. Barclays and CITbank have online savings at 1%, Ally was also mentioned.
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04-17-2013, 05:01 PM
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#15
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gone traveling
Join Date: Mar 2007
Posts: 559
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My wife and i have a lot of money already in funds.
we have decided to leave our cash in savings for now.
thanks for the replies
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04-17-2013, 05:02 PM
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#16
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gone traveling
Join Date: Mar 2007
Posts: 559
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Quote:
Originally Posted by obgyn65
And why not ? I am happy with Edward Jones, as they always get me the best CD rates. All the interest amounts are paid directly into my BoA checking account.
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the wife wants no new institutions. what the wife wants she gets.
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04-17-2013, 05:13 PM
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#17
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Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
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I bought a 10-year CD recently at 2.35%. Better than nothing.
Quote:
Originally Posted by rec7
What kind of rate have you got recently? Just wondering.
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__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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04-17-2013, 05:13 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
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I see. Time for a discussion with her I guess :-)
Quote:
Originally Posted by gerrym51
the wife wants no new institutions. what the wife wants she gets.
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__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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04-17-2013, 05:17 PM
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#19
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,612
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Perhaps it is time to explore the institutions you use and if they are meeting your needs. I understand the need to keep it simple by keeping the number of institutions you use to a small number. However, are you getting value from them? If you have a savings account is it paying you for what you've left with them as well as some others savings bank could?
Ally is one example, so is American Express Bank. Both pay above market rates and you have easy access to your cash by linking your checking account to the savings account.
-- Rita
__________________
Only got A dimple, would have preferred 2!
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04-17-2013, 05:46 PM
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#20
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Thinks s/he gets paid by the post
Join Date: Jul 2007
Location: St. Louis
Posts: 1,563
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Quote:
Originally Posted by obgyn65
I bought a 10-year CD recently at 2.35%. Better than nothing.
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That's not bad. I wonder what the 1 year CD's there are paying?
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