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08-13-2020, 03:57 PM
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#621
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 2,518
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It's a bit late at this point, but I set up multiple no penalty CD's to stake out territory. Those funds are still totally accessible. Currently we have 2 no penalty CD's at Ally at 1.95%, which mature early next year, 3 more also at Ally at 1.75% which mature in the spring of next year, a 3rd 1 yr Add on CD at Navy at .9% and an add on 4 year at GTE CU (now maturing in 3 years) at 2.94%.
__________________
"Luck favors the prepared mind"
Pasteur
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08-13-2020, 03:57 PM
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#622
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,204
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Yeah, VMMXX was a great place for cash last year... this year not so much... 0.07% 7-day SEC yield ... 0.13% distribution yield. Yuk.
I have a couple 1.35% add-on CD that I started with Navy in May that I'll add the Capital One money to if their yields disappoint after the bonus is credited.
Kicking myself that I didn't think to set up taxable account 5-year 3% add-on CDs at GTE Financial a year ago when I had the chance.
__________________
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
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08-13-2020, 04:02 PM
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#623
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Thinks s/he gets paid by the post
Join Date: Dec 2014
Location: St. Charles
Posts: 3,891
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Quote:
Originally Posted by DawgMan
As I set up my cash fund (something between 1 - 3 yrs cash), I was going to look into one of these high yield savings accounts. It appears to me at the end of the day, most of the well known banks are all pretty much in line with each other? Are you guys jumping from bank to bank chasing 10 -20 basis points in yield or generally picking a horse and riding it? Just curious if there are any special tricks to maximizing the measly potential interest on your cash holdings. It's a shame brokerages like Schwab don't have a competitive product to keep everything under 1 roof.
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I picked CapOne years ago, and have been riding it. Not the best, not the worst. But I am not going to spend time chasing 10-20 basis points on less than $200k.
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If your not living on the edge, you're taking up too much space.
Never slow down, never grow old!
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08-13-2020, 04:45 PM
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#624
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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I have three horses, now. Ally, Marcus, and PenFed. I just let one go. I don’t move funds between them. I spread it around. That’s all 6 month money. The serious funds are in laddered CDs.
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...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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08-13-2020, 07:30 PM
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#625
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
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I'm still looking for bonus opportunities to stash cash temporarily, since VG MM is only slightly better than under the mattress. But I used a chunk of it to pay down one of my mortgages, so I'm looking at that as the equivalent of a 3.625% CD. I may regret it in the long run if inflation returns, but there are only 17 years left on the mortgage and we'll probably sell that house before the 30 years is up. So I think it will work out to be a good move. I hope.
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"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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08-13-2020, 07:51 PM
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#626
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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I only applied for one bank bonus deal and it's kind of a hassle for me. I just don't have that much taxable money available without jumping through hoops. If I did have a chunk of money to put into a fixed income investment, I would certainly consider paying down mortgage or buying MYGA. I will be facing this dilemma in 5 months but the funds are tax deferred so options are limited.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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08-14-2020, 10:04 AM
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#627
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,973
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They monitor this site, and you gave them an idea
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Fortune favors the prepared mind. ... Louis Pasteur
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08-14-2020, 10:09 AM
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#628
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,973
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Quote:
Originally Posted by DawgMan
As I set up my cash fund (something between 1 - 3 yrs cash), I was going to look into one of these high yield savings accounts. It appears to me at the end of the day, most of the well known banks are all pretty much in line with each other? Are you guys jumping from bank to bank chasing 10 -20 basis points in yield or generally picking a horse and riding it? Just curious if there are any special tricks to maximizing the measly potential interest on your cash holdings. It's a shame brokerages like Schwab don't have a competitive product to keep everything under 1 roof.
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If a bank offers a bonus, like ALLY did for 3 months.
I moved $25K there to snag $250 over the 1% they were paying.
Otherwise, I don't jump around much as everything is close and heading down....
__________________
Fortune favors the prepared mind. ... Louis Pasteur
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08-14-2020, 10:26 AM
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#629
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,973
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In Denmark you can get a mortgage at NEGATIVE 0.5 %.
Soon this may be the only way to make money from banks
https://www.cnbc.com/2019/08/12/dani...est-rates.html
__________________
Fortune favors the prepared mind. ... Louis Pasteur
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08-14-2020, 10:54 AM
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#630
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Thinks s/he gets paid by the post
Join Date: Jan 2012
Posts: 2,581
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Quote:
Originally Posted by Sunset
If a bank offers a bonus, like ALLY did for 3 months.
I moved $25K there to snag $250 over the 1% they were paying.
Otherwise, I don't jump around much as everything is close and heading down....
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Yep, same here, except I jumped on the CapOne bonus offers in December and again in May. By the end of this month, I'll have made $1,450 in bonus money from my CapOne 360 online savings account over the past 8 months... not bad in this ultra-low IR environment.
Like @CardsFan posted, I've decided to stop worrying about chasing 10, 20, 30 basis points by opening new accounts and shuffling money back and forth. But I'll still be on the lookout for other $500+ "new customer" bonus offers.
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08-14-2020, 11:38 AM
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#631
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2006
Location: Boise
Posts: 7,863
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I've used Alliant Credit Union for years. They're currently at 0.75% on their HYS product:
https://www.alliantcreditunion.org/b...-yield-savings
But I don't keep that much in there, so getting an additional 20-30 basis points for switching isn't worth it to me for the hassle of opening a new account, connecting it to my other accounts, getting to know a new website, etc.
I agree with Sojourner that chasing new customer bonus offers does make it worth it. Chase just sent me another coupon for their $500 checking/savings bonus deals, so I may look into that.
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
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08-14-2020, 02:56 PM
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#632
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Thinks s/he gets paid by the post
Join Date: Aug 2007
Posts: 2,852
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I think it was mentioned here earlier, but PenFed also offers 0.80% on their HYS account. Not a bad option if you already have an account with them.
__________________
Eat, Drink and Be Merry.
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08-14-2020, 05:19 PM
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#633
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2016
Location: Northern Virginia
Posts: 7,515
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Well, I think i can check one item off list:
Move $ from CapOne to Ally.
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08-18-2020, 09:29 AM
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#634
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,599
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Effective 8/18, American Express Savings High Yield Account changes to .80% APY from 1.0%
__________________
Only got A dimple, would have preferred 2!
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08-18-2020, 12:06 PM
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#635
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,134
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Ally is now 0.80% on all account levels.
__________________
Comparison is the thief of joy
The worst decisions are usually made in times of anger and impatience.
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08-18-2020, 12:11 PM
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#636
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,155
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Discover just went down to 0.80% as well.
I told them to socially distance themselves from the other online banks, but no...
__________________
I thought growing old would take longer.
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08-18-2020, 12:13 PM
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#637
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Posts: 11,701
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Quote:
Originally Posted by braumeister
Discover just went down to 0.80% as well.
I told them to socially distance themselves from the other online banks, but no...
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Not distant at all. They appear to be all in bed together.
__________________
Retired Class of 2018
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08-18-2020, 01:15 PM
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#638
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,197
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So is 0.80% the low point, or do we still down further?
__________________
TGIM
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08-18-2020, 06:49 PM
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#639
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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I received the $200 bonus from PenFed for just opening a checking account and making one deposit of $1200 plus 5 debit card purchases. It was a total of 14 weeks. Easy money since I had other accounts there already. I can’t imagine how it pays for a credit union or bank to make these offers so easy. I don’t think I would do it if I didn’t already have an account there. Most of the others also require direct deposit.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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Knights of columbus annuity
08-19-2020, 09:50 AM
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#640
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Full time employment: Posting here.
Join Date: Jun 2016
Posts: 889
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Knights of columbus annuity
Checking this for my father (84 years old).
He has a Knights of Columbus annuity that he can add to and it pays 3.5% interest. He doesn't take any payments from it, its more like a nice savings account for him.
Given KoC is rated pretty well, I told him he should feel comfortable putting 250K into it (somewhat insured by the state agency), but over that as it becomes a larger portion of his nest egg, there is some risk there.
Given all cash / mm / CD options are around 1% of sometimes lower, what % of nest egg do folks think is ok to put w/ KoC; given its nice interest rate?
Their pensions and Soc Sec basically pay all their expenses, and this nest egg really will probably end up w/ me, siblings, and grand children. They don't have much in equities anymore so its all low risk. And they have LTC insurance so even that would be largely covered.
Thoughts on how deep to go in w/ KoC?
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