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12-10-2020, 04:38 PM
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#921
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Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,593
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Quote:
Originally Posted by Dtail
Just got it myself.
The race to the bottom continues.
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Actually, it's the continuation of the "war against savers" with the Fed being our opponent.
__________________
*********Go Astros!*********
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12-10-2020, 09:30 PM
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#922
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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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Quote:
Originally Posted by aja8888
Actually, it's the continuation of the "war against savers" with the Fed being our opponent.
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I wish rates were higher, but the war on savers is rewarding equity holders generously. Given the choice, I will take the war on savers.
But that is just me.
Now, back to complaining about these paltry rates. I'm so glad I got those 72 month CDs from Signal Financial FCU at 3.35 pct last year. It was very hard to commit to that timing but as I said it has 50 pct penalty free withdrawal and other rate protections. Now I wish I had done more but it is about a third of my CD portfolio that I do not have to think about.
About a third has matured this month and the other third matures next year. I don't think these current rates are attractive enough to lockdown money, even money I don't need.
I'll put some in my fave MM and the balance in bond or alternative funds per what I identified above or possibly others I may find.
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12-11-2020, 02:42 AM
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#923
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
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Yeah, my interest income is going to be WAY lower!
One of my bond funds just paid out a huge short-term cap gain distribution. Ouch! At least I don’t expect a repeat next year.
__________________
Retired since summer 1999.
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12-11-2020, 02:44 AM
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#924
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
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But it’s all relative. Other options may well be down the same amount.
__________________
Retired since summer 1999.
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12-11-2020, 06:08 AM
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#925
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 2,518
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Quote:
Originally Posted by audreyh1
Funny how that works. I feel like a champ now because I loaded up on CDs in Jan, and a few more good specials early Feb. But they are all maturing in 2021!
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Ditto
__________________
"Luck favors the prepared mind"
Pasteur
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12-11-2020, 06:12 AM
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#926
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 2,518
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Quote:
Originally Posted by Dtail
I also have the GTE add on.
Would either one of you be willing to go over the NCUA limit on these CD's?
I keep thinking about it, but for now will not do it.
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No, I don't plan on it, but the CD is in a joint account, so we have quite a bit of room left before facing that decision. Our Maturing CD's are in either 50K or 100K amounts.
__________________
"Luck favors the prepared mind"
Pasteur
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12-11-2020, 06:29 AM
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#927
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Thinks s/he gets paid by the post
Join Date: Aug 2010
Location: Back woods of Fennario
Posts: 1,170
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Honestly, this thread is more depressing than many of our Covid conversations....
__________________
"Time wounds all heels...." - Groucho Marx
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12-11-2020, 09:10 AM
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#928
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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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Quote:
Originally Posted by Dtail
I also have the GTE add on.
Would either one of you be willing to go over the NCUA limit on these CD's?
I keep thinking about it, but for now will not do it.
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I am but in a small way. I originally deposited $215k since that would grow to $250k at 3% over 5 years... then about 6 months later got greedy and added $35k... so I do have some interest in excess of the $250k I deposited that is technically at risk. If I get nervous about them I'll just withdraw the interest.
__________________
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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12-12-2020, 04:18 PM
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#929
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Thinks s/he gets paid by the post
Join Date: Jul 2013
Posts: 1,871
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Has anybody tried onjuno.com? The 2% interest up to $50K looks attractive, even with the monthly fee.
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12-12-2020, 04:26 PM
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#930
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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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Quote:
Originally Posted by pb4uski
I am but in a small way. I originally deposited $215k since that would grow to $250k at 3% over 5 years... then about 6 months later got greedy and added $35k... so I do have some interest in excess of the $250k I deposited that is technically at risk. If I get nervous about them I'll just withdraw the interest.
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Kind of considering the same.
__________________
TGIM
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12-12-2020, 06:23 PM
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#931
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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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Quote:
Originally Posted by mrfeh
Has anybody tried onjuno.com? The 2% interest up to $50K looks attractive, even with the monthly fee.
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Never heard of this before. Looked it up. Not really impressed. Kinda VCish but it it is FDIC. $50k? I don’t see that. Is it some special program? Here’s what I see
Bonus on Deposits
2.15% on balances up to $5,000
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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12-12-2020, 06:38 PM
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#932
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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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I seem to remember a similar dodgy deal in the last 6 months or so... where the onjuno-like party held the deposits as liabilities to depositors and the onjuno-like party's assets were FDIC insured bank accounts... but the depositor's deposits were not really FDIC insured... but the onjuno-like party represented that the depositor's funds were FDIC insured, but because they were not a bank they really were not.
If it seems too good to be true....
Try it for a year with your money first and let me know how it goes.
__________________
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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12-12-2020, 06:43 PM
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#933
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Thinks s/he gets paid by the post
Join Date: Jul 2013
Posts: 1,871
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Quote:
Originally Posted by jazz4cash
Never heard of this before. Looked it up. Not really impressed. Kinda VCish but it it is FDIC. $50k? I don’t see that. Is it some special program? Here’s what I see
Bonus on Deposits
2.15% on balances up to $5,000
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It's actually 2.15 up to $30K, but $10/month fee, "metal" plan.
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12-12-2020, 07:25 PM
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#934
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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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Ok but what are they, really? It says they are not a bank. Their FDIC is through a partner affiliate. I don’t see any savings acct or loan portal. I can’t tell how they make money so I’ll pass but I’m interested in any first hand experience.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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12-12-2020, 08:10 PM
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#935
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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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If they aren't a bank then I don't see how my deposits can be FDIC insured.
Perhaps their deposits can but I don't care about their deposits being FDIC insured, I'm interested in my deposits being FDIC insured. I'll pass too unless they are transparent about the answer.
__________________
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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12-13-2020, 11:04 AM
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#936
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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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The FDIC is through an entity called Evolve Bank. I believe there was some other fin tech that ran into trouble recently claiming to have 3rd party FDIC affiliation.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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12-13-2020, 02:16 PM
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#937
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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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Yes, see post #932... I just can't recall the name but it was a similar scam.
__________________
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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12-13-2020, 03:58 PM
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#938
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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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Quote:
Originally Posted by pb4uski
Yes, see post #932... I just can't recall the name but it was a similar scam.
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Was it Robinhood?
__________________
TGIM
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12-13-2020, 04:04 PM
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#939
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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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No, it wasn't Robinhood.
__________________
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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12-13-2020, 04:23 PM
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#940
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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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It wasn’t Robinhood but they had their own similar problems and bad behavior. These fin tech companies are way riskier than they appear IMO.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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