Portal Forums Links Register FAQ Community Calendar Log in

Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Here's an idea if you have excess cash not earning much interest
Old 07-28-2011, 02:01 PM   #1
Thinks s/he gets paid by the post
 
Join Date: Jul 2010
Location: Chicago
Posts: 1,008
Here's an idea if you have excess cash not earning much interest

Here's a way to make some quick Amazon gift card cash good until 9/6/11. If you have extra cash sitting around, you can do a new acct or transfer, $50k gets you $100, $100k gets you $200 and $250k gets you $500. You can also deposit $1 mil to get a Sony internet tv/blu ray player or desktop/laptop, but I don't recommend these since you'll be taxed on these items for sure. The beauty of this deal is you won't generate a 1099 for the gift card if you stay below $600, so it's tax free.

Also, you can park it in a CD, leave it in a money market account or trade as you like, only requirement is the money has to stay there for 1 year. I figure if you're not using the money for the next year and you're not earning much in interest, this will help you get up to an extra $500 tax free.

Personally, I've done these deals before for free electronics and I've always stayed below the $600 mark.

TD*Ameritrade*-*Amazon.com gift card*rewards
Dimsumkid is offline   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 07-28-2011, 03:24 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Jun 2010
Location: Palma de Mallorca
Posts: 1,419
So for tying your money up for a year, you get 0.2% in Amazon vouchers that probably cost TDA 0.12% ? No thanks.
BigNick is offline   Reply With Quote
Old 07-28-2011, 06:50 PM   #3
Thinks s/he gets paid by the post
HawkeyeNFO's Avatar
 
Join Date: Jan 2010
Location: 5-sided building
Posts: 1,184
There are far more profitable ways to make a quick buck, and most of them don't tie up your money for such a long time. PayPal and/or Amazon Payments and the AARP credit card, for example.
HawkeyeNFO is offline   Reply With Quote
Reply


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

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
Managing Cash & Roth Conversions (Separate Topics) Midpack FIRE and Money 11 07-28-2011 09:20 AM
Trouble understanding I Bond interest calculation Tom52 FIRE and Money 2 07-09-2011 03:53 PM
I-Bonds for "Short Term" interest Koolau FIRE and Money 10 06-29-2011 07:35 PM

» Quick Links

 
All times are GMT -6. The time now is 06:25 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.