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Where can I put $$ for best short term return?
Old 06-07-2015, 08:35 AM   #1
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Where can I put $$ for best short term return?

Seems to be a recurring question -

I'm going to plop $50,000 into this account:

https://home.capitalone360.com/lp-savingsbonus500

90 days is about as short term as you can get, $50k isn't an earthshaking amount, but $500 bucks is $500 bucks. Looks like minimal hoops to hop through, no 10 debit card transactions and go to the website on Thursday evening between 5 and 7 nonsense. Interest is 0.75% if you don't grab the $50k back at 90 days, so not much down side I can see.
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Old 06-07-2015, 09:00 AM   #2
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Quote:
Originally Posted by calmloki View Post
Seems to be a recurring question -

I'm going to plop $50,000 into this account:

https://home.capitalone360.com/lp-savingsbonus500

90 days is about as short term as you can get, $50k isn't an earthshaking amount, but $500 bucks is $500 bucks. Looks like minimal hoops to hop through, no 10 debit card transactions and go to the website on Thursday evening between 5 and 7 nonsense. Interest is 0.75% if you don't grab the $50k back at 90 days, so not much down side I can see.
Here's one restriction for me (I don't keep $50+K in a bank checking account)

"We don't accept brokerage, money market or savings accounts (institutions put restrictions on these types of accounts that prevent electronic transfers)."
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Old 06-07-2015, 09:40 AM   #3
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  1. Quote:
    Originally Posted by aja8888 View Post
    Here's one restriction for me (I don't keep $50+K in a bank checking account)
Quote:
Originally Posted by aja8888 View Post
"We don't accept brokerage, money market or savings accounts (institutions put restrictions on these types of accounts that prevent electronic transfers)."
If all your bucks are working hard already that is a good thing. I'm thinking of the posters who just sold their house or are otherwise cash heavy. We had a number of our property loans pay off within a month and it bothers me not to have those dollar bills working.
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Old 06-07-2015, 09:40 AM   #4
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Thanks for posting the link.
I am curious. How many of this type of account/vehicle do you/other members open and close a year? Besides our taxable stock account, we sometimes have a lot of cash sitting around. I tried to open a bank savings account online that was having a special rate offer. It took about 20 minutes going back and forth entering information. Then I got blocked out from completing the account. This drives me crazy. My sister is constantly buying and selling cd's, opening bank accounts for special offers and changing credit cards for better deals.
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Old 06-07-2015, 09:56 AM   #5
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We pick up a few thousand/year doing account specials and opening new card accounts. Not earth shaking, but hey, I pick up change I see on the sidewalk too. Not like I'm losing any money by doing so and the exercise whether physical or mental is good for me.

The card signup bonus amount are tax free too - which just adds to the thrill of getting free money.

edit: maybe two bank specials (x2 for a couple) and three cards (x2). Once one person signs up for an offer doing it a second time is trivial. On the bank accounts rather than having them be joint we just list each other as beneficiary.
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Old 06-07-2015, 10:06 AM   #6
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Thanks! That is a good deal (1.75% interest rate the first year) and I am sold. Moving my $50k this week. We are keeping a good chunk of cash during the first few years of ER to see how things go.
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Old 06-07-2015, 12:27 PM   #7
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I just got an offer from Chase, deposit $15K in their savings account for 90 days and get a $200 bonus, open a checking account with direct deposit and get $300, can do either or both. The interest earned on the savings account is effectively 0% so not a good place to keep money long term but not a bad return for 90 days.
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Old 06-07-2015, 12:46 PM   #8
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For me the fine print is a problem (must be your first ever cap one 360 or ing savings account). Oh well. Thanks for the heads up op


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Old 06-07-2015, 01:20 PM   #9
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Here's one restriction for me (I don't keep $50+K in a bank checking account)

"We don't accept brokerage, money market or savings accounts (institutions put restrictions on these types of accounts that prevent electronic transfers)."
I should read messages more attentively. Just ran into the checking account transfer issue - I could call them, but will probably just transfer money from Barclays or TIAA to our Chase checking accounts, wait a few days, and then open the Capone 360 accounts with transfers from Chase.
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Old 06-07-2015, 01:28 PM   #10
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I just got an offer from Chase, deposit $15K in their savings account for 90 days and get a $200 bonus, open a checking account with direct deposit and get $300, can do either or both. The interest earned on the savings account is effectively 0% so not a good place to keep money long term but not a bad return for 90 days.
I got the Chase $500 deal a while ago, pretty nice. I don't see how they make money on this.

Now I am looking to rollover the 401k, should get about $600 for that.
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Old 06-07-2015, 01:49 PM   #11
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I got the Chase $500 deal a while ago, pretty nice. I don't see how they make money on this.

Now I am looking to rollover the 401k, should get about $600 for that.
How are you rolling it? Are you rolling shares or cash?
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Old 06-07-2015, 01:54 PM   #12
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How are you rolling it? Are you rolling shares or cash?
Will roll cash when the time comes. Looking at various deals from brokers right now.
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Old 06-07-2015, 01:58 PM   #13
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Will roll cash when the time comes. Looking at various deals from brokers right now.
Just don't get screwed

When you will ask for rollover they will have window when they sell your shares. It may be to your surprise at lowest point during this window. You may loose more then 600 dollars that you will then earn.

Better to roll shares. You take no such risk. (or sell shares at time decided by you)

But even better is to keep 401k IMO unless it is junky one.
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Old 06-07-2015, 02:18 PM   #14
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PNC has a similar deal right now in some states (maybe 20or so). $300 cash bonus when you deposit $5000.

I almost jumped but the deal is more complicated than credit card offers and the bonus is probably taxable whereas $400-800 in CC bonuses are tax free.
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Old 06-08-2015, 04:11 AM   #15
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We pick up a few thousand/year doing account specials and opening new card accounts. Not earth shaking, but hey, I pick up change I see on the sidewalk too. Not like I'm losing any money by doing so and the exercise whether physical or mental is good for me.

The card signup bonus amount are tax free too - which just adds to the thrill of getting free money.

edit: maybe two bank specials (x2 for a couple) and three cards (x2). Once one person signs up for an offer doing it a second time is trivial. On the bank accounts rather than having them be joint we just list each other as beneficiary.
i don't pick up any money on the sidewalk anymore that does not at least cover my co-pay if i hurt my back picking it up.
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