|
|
01-21-2019, 02:31 PM
|
#141
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
|
Quote:
Originally Posted by ShokWaveRider
I have just moved one from PenFed to Vanguard. Did it all by email, took 2 full business days for the money to get to Vanguard. I sent the email at 5pm on day 0, had confirmation of a properly filled out form by 7pm day 0, money was in VG by Afternoon of Day 2
|
Did you initiate the transfer with Vanguard or with PenFed?
__________________
Numbers is hard
|
|
|
|
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!
|
01-21-2019, 03:04 PM
|
#142
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,723
|
Quote:
Originally Posted by REWahoo
Did you initiate the transfer with Vanguard or with PenFed?
|
PenFed, I downloaded the forms, filled them out and emailed them to PenFed. Their CS dept. helped with all the details. PenFed does not allow any external entity to pull IRA funds. Saved 2 days by doing it direct with PenFed. Otherwise the same forms would need to be filled out and then mailed to VG who in turn would have to send them to PenFed.
Like anything else, research the rules and requirements before you need to actually do anything. I checked and had everything all lines up 1 month before maturity.
__________________
"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
|
|
|
01-21-2019, 11:01 PM
|
#143
|
Recycles dryer sheets
Join Date: Jul 2012
Location: San Antonio
Posts: 140
|
Quote:
Originally Posted by John Galt III
I just noticed Penfed dropped their 5 year and 7 year CD rate from 3.5% APY to 3.35% APY for non-IRA CD.
So I just got in under the wire on the 3.50% deal. Got into a bunch of those a few days ago! But my old Penfed CDs which are renewing 1/24/19 will be renewing at the new 3.35% rate, assuming no further change. Arghhh. Oh well, I'm not going to shop around for a better deal.
|
I went to Penfed last week to authorize roll over of my cd and ira. Representative told me the rates would be good to the end of the month. I'm not sure I will get the higher rate on the 23rd when it rolls over. I guess I'll call tomorrow and find out. The IRA rolls over beginning of Feb.
When I transferred my Roth IRA to Penfed about 5 years ago, it took forever to get the money transferred from Fidelity. I had to set up camp at the local Fidelity office to make it happen and was very disturbed with them.
|
|
|
01-22-2019, 05:22 PM
|
#144
|
Full time employment: Posting here.
Join Date: Apr 2015
Posts: 580
|
I just rolled over a $100,000 CD for 18 months at 2.90% with Summit State Bank. They've been offering this same rate for awhile and I had hopes it would reach 3% by today. With my luck it'll be 3.10% tomorrow!
|
|
|
01-22-2019, 05:38 PM
|
#145
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,145
|
I finally realized that DH qualifies us to join NFCU, but I'm not sure it's worth it for the single CD $50K limit, even though the 17 month CD has a 3.25% APR.
__________________
Retired since summer 1999.
|
|
|
01-22-2019, 06:36 PM
|
#146
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,370
|
VMMXX is up to a compound yield of 2.50%.
__________________
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
|
|
|
01-22-2019, 11:47 PM
|
#147
|
Recycles dryer sheets
Join Date: Apr 2005
Posts: 114
|
Quote:
Originally Posted by audreyh1
I finally realized that DH qualifies us to join NFCU, but I'm not sure it's worth it for the single CD $50K limit, even though the 17 month CD has a 3.25% APR.
|
From my experience, you should consider more than just this CD. Currently, they also have a 40-month 3.75% IRA CD (capped at $150K). I've topped up the 17-month one. I should have the IRA one topped up next month.
They periodically have odd term CDs with good rates. In August 2017, there was 5-month 3.0% one (untouchable at the time). In just under 2 months, I have a 2.25% 15-month CD maturing. That might not sound great now, but, 13 months ago it was pretty good.
As an institution, they are not without their quirks. You can ACH into their share accounts, but, not out. I've also set up a checking account ($0 minimum) to ACH money out.
|
|
|
Best CD & MM Rates Thread 2018 - 2019 - Please Post Updates Here
01-23-2019, 05:50 AM
|
#148
|
Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 2,522
|
Best CD & MM Rates Thread 2018 - 2019 - Please Post Updates Here
Quote:
Originally Posted by audreyh1
I finally realized that DH qualifies us to join NFCU, but I'm not sure it's worth it for the single CD $50K limit, even though the 17 month CD has a 3.25% APR.
|
Audrey, my DH joined NFCU last week and after several days of on line application, uploading of docs and unfreezing of credit he opened a joint share account and a 17 mo CD. We are joint owners of the share account and CD. I then learned from one of their CSR's that I qualify for membership as well, as the relative of the qualifying member and even though I am joint on the CD, I was told if I join as a member, that we can open another $50,000 CD with Me as member and DH as joint owner, so $100,000 max, one per member. We are contemplating doing it.
I must say though that their process is not as smooth as NASA's for example. You can arrange for a free transfer with a verbal conversation with a CSR. I did this to fund the share account with $55, from my B&M bank, $5 for the Share account and $50 to start the CD. That was a 2 step process of $55 to the share account and then open a CD and fund with a transfer from the share ac. The $55 from B&M did happen overnight though. I then planned to push from Ally the remaining $49, 950 to the share account. In order to set up NFCU with Ally you of course have to verify. Instant verification did not work. Next choice was the small deposits method, which I thought worked, but after pushing the funds on 1/16 from Ally and not seeing them show up after 2 days, I realized the transfer was rejected and went back to Ally. After another phone call with NF, I found out that Ally wants to be able to pull and push. NF will not allow a pull, at least from a share account, so Ally disabled the link. They tried to pull back the small deposits before pushing the $49K, but the pull did not work. On that same call to NF, I arranged for a transfer again with NF as I had for the $55. I arranged for that on the 18th, but the funds only showed up overnight today. There was a holiday of course this week, but I found the time factor annoying. I did figure out finally though that I could open a checking account at NF which Ally can push and pull from, so if you decide to go through this, my suggestion is to open a checking account as well as your transfer vehicle.
Sorry about the long winded details, but you are so helpful, I thought I'd relay my experience to you.
Oh and the EWP is 180 days.
And I also just realized that Adrift laid all of this out, with many fewer words😬
Sent from my iPad using Early Retirement Forum
__________________
"Luck favors the prepared mind"
Pasteur
|
|
|
01-23-2019, 01:36 PM
|
#149
|
Thinks s/he gets paid by the post
Join Date: Feb 2007
Location: Upstate
Posts: 2,951
|
Just saw this when logging into my account: All America Bank & Red Neck Bank are now paying 2.50% on their mega money market fund. $50K limit (on each, so a couple couple theoretically have 200K in total at that rate), no mininum. https://www.allamerica.bank/ and https://redneck.bank/
Note that they have a $5K limit on ACH's in or out (per day), but I was easily able to have them raise the limit for me a while back for an inbound ACH (by chatting with/calling the CSR).
|
|
|
01-23-2019, 01:49 PM
|
#150
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,370
|
^^^ That's the same yield as VMMXX and no limits... but not FDIC insured.
__________________
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
|
|
|
01-23-2019, 02:02 PM
|
#151
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,145
|
Quote:
Originally Posted by adrift
From my experience, you should consider more than just this CD. Currently, they also have a 40-month 3.75% IRA CD (capped at $150K). I've topped up the 17-month one. I should have the IRA one topped up next month.
They periodically have odd term CDs with good rates. In August 2017, there was 5-month 3.0% one (untouchable at the time). In just under 2 months, I have a 2.25% 15-month CD maturing. That might not sound great now, but, 13 months ago it was pretty good.
As an institution, they are not without their quirks. You can ACH into their share accounts, but, not out. I've also set up a checking account ($0 minimum) to ACH money out.
|
I’m not considering moving around IRA money. That’s just too many hoops.
Thanks for the tips about ACH out.
__________________
Retired since summer 1999.
|
|
|
01-23-2019, 02:04 PM
|
#152
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,145
|
Quote:
Originally Posted by Golden sunsets
Audrey, my DH joined NFCU last week and after several days of on line application, uploading of docs and unfreezing of credit he opened a joint share account and a 17 mo CD. We are joint owners of the share account and CD. I then learned from one of their CSR's that I qualify for membership as well, as the relative of the qualifying member and even though I am joint on the CD, I was told if I join as a member, that we can open another $50,000 CD with Me as member and DH as joint owner, so $100,000 max, one per member. We are contemplating doing it.
I must say though that their process is not as smooth as NASA's for example. You can arrange for a free transfer with a verbal conversation with a CSR. I did this to fund the share account with $55, from my B&M bank, $5 for the Share account and $50 to start the CD. That was a 2 step process of $55 to the share account and then open a CD and fund with a transfer from the share ac. The $55 from B&M did happen overnight though. I then planned to push from Ally the remaining $49, 950 to the share account. In order to set up NFCU with Ally you of course have to verify. Instant verification did not work. Next choice was the small deposits method, which I thought worked, but after pushing the funds on 1/16 from Ally and not seeing them show up after 2 days, I realized the transfer was rejected and went back to Ally. After another phone call with NF, I found out that Ally wants to be able to pull and push. NF will not allow a pull, at least from a share account, so Ally disabled the link. They tried to pull back the small deposits before pushing the $49K, but the pull did not work. On that same call to NF, I arranged for a transfer again with NF as I had for the $55. I arranged for that on the 18th, but the funds only showed up overnight today. There was a holiday of course this week, but I found the time factor annoying. I did figure out finally though that I could open a checking account at NF which Ally can push and pull from, so if you decide to go through this, my suggestion is to open a checking account as well as your transfer vehicle.
Sorry about the long winded details, but you are so helpful, I thought I'd relay my experience to you.
Oh and the EWP is 180 days.
And I also just realized that Adrift laid all of this out, with many fewer words
Sent from my iPad using Early Retirement Forum
|
Oh, OK. As a spouse of a qualifying member I realized that I also qualified for membership, but didn’t consider that we each would be eligible to open one of those CDs. Thanks for the tip!
__________________
Retired since summer 1999.
|
|
|
01-23-2019, 02:48 PM
|
#153
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,723
|
Connexus Credit Union - 3-year CD = 3.35% - 5-year CD = 3.63%
__________________
"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
|
|
|
01-23-2019, 04:17 PM
|
#154
|
Thinks s/he gets paid by the post
Join Date: Feb 2007
Location: Upstate
Posts: 2,951
|
Quote:
Originally Posted by pb4uski
^^^ That's the same yield as VMMXX and no limits... but not FDIC insured.
|
Not sure I am reading this right, or what you are quoting, but All America Bank/Red Neck bank are FDIC insured: https://www5.fdic.gov/idasp/external...?inCert1=20093
Or were you trying to say that VMMXX has no limits, but is not FDIC insured, i.e. the "not FDIC insured" refers to VMMXX and not All America/Redneck?
Isn't the English language fun?
|
|
|
01-23-2019, 04:47 PM
|
#155
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,370
|
I meant that VMMXX is not FDIC insured but has no limits and current yield is 2.5%.
I thought it would be evident that a brokerage money market fund was not FDIC insured but that bank money market accounts are FDIC insured but just wanted to call attention to that difference.
__________________
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
|
|
|
01-23-2019, 04:56 PM
|
#156
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,298
|
Quote:
Originally Posted by pb4uski
I meant that VMMXX is not FDIC insured but has no limits and current yield is 2.5%.
I thought it would be evident that a brokerage money market fund was not FDIC insured but that bank money market accounts are FDIC insured but just wanted to call attention to that difference.
|
I use the Fidelity version which is 12 bps behind VMMXX, but usually they move up a little in response, but always behind.
I don't feel the "break the buck" risk is an issue of any kind, i.e. if Vanguard or Fidelity break the buck, then there are way more serious issues going on.
__________________
TGIM
|
|
|
01-23-2019, 05:26 PM
|
#157
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,370
|
Amen.
__________________
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
|
|
|
01-24-2019, 05:36 AM
|
#158
|
Thinks s/he gets paid by the post
Join Date: Oct 2008
Posts: 2,796
|
Quote:
Originally Posted by WWDog
I went to Penfed last week to authorize roll over of my cd and ira. Representative told me the rates would be good to the end of the month. I'm not sure I will get the higher rate on the 23rd when it rolls over. I guess I'll call tomorrow and find out. The IRA rolls over beginning of Feb.
When I transferred my Roth IRA to Penfed about 5 years ago, it took forever to get the money transferred from Fidelity. I had to set up camp at the local Fidelity office to make it happen and was very disturbed with them.
|
In early January the Penfed rep told me the 3.50% rate was good for the entire month of January. I took out some cds right away at 3.50% since customer service people are so often wrong. Also found out from penfed rep yesterday that we have a 10 day grace period after renewing a cd, to reconsider, ie, cancel it and do something else with the money.
|
|
|
01-24-2019, 06:08 AM
|
#159
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,723
|
I think 3 years CDs with anything over 3% is my sweet spot for our first quarter maturities.
__________________
"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
|
|
|
01-25-2019, 11:21 AM
|
#160
|
Thinks s/he gets paid by the post
Join Date: Sep 2013
Location: Ventura County
Posts: 1,433
|
Finally a decent rate available in Southern California. Premier America Credit Union (open to LA and Ventura County residents) now has a 17 month 3.20% CD. EWP is 180 days worth of dividends, which I can live with.
I think this is where I'm going to park much of my short term cash.
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|