Join Early Retirement Today
Closed Thread
 
Thread Tools Display Modes
Old 12-10-2020, 04:38 PM   #921
Moderator Emeritus
aja8888's Avatar
 
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,593
Quote:
Originally Posted by Dtail View Post
Just got it myself.
The race to the bottom continues.
Actually, it's the continuation of the "war against savers" with the Fed being our opponent.
__________________
*********Go Astros!*********
aja8888 is offline  
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 12-10-2020, 09:30 PM   #922
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Aug 2016
Location: Northern Virginia
Posts: 7,515
Quote:
Originally Posted by aja8888 View Post
Actually, it's the continuation of the "war against savers" with the Fed being our opponent.
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.
Montecfo is offline  
Old 12-11-2020, 02:42 AM   #923
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
Quote:
Originally Posted by JoeWras View Post
So, maybe we'll have more head-room to do Roth conversions in 2021. Just looking for the bright side.
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.
audreyh1 is online now  
Old 12-11-2020, 02:44 AM   #924
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
Quote:
Originally Posted by Cat-tirement View Post
I just noticed that too. The Ally web page says "promotional term available through 2/10/21". By the time my CD matures in February, it will probably be down even further, and not worth the bother.
But it’s all relative. Other options may well be down the same amount.
__________________
Retired since summer 1999.
audreyh1 is online now  
Old 12-11-2020, 06:08 AM   #925
Thinks s/he gets paid by the post
Golden sunsets's Avatar
 
Join Date: Jun 2013
Posts: 2,518
Quote:
Originally Posted by audreyh1 View Post
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!
Ditto
__________________
"Luck favors the prepared mind"
Pasteur
Golden sunsets is offline  
Old 12-11-2020, 06:12 AM   #926
Thinks s/he gets paid by the post
Golden sunsets's Avatar
 
Join Date: Jun 2013
Posts: 2,518
Quote:
Originally Posted by Dtail View Post
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.
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
Golden sunsets is offline  
Old 12-11-2020, 06:29 AM   #927
Thinks s/he gets paid by the post
 
Join Date: Aug 2010
Location: Back woods of Fennario
Posts: 1,170
Honestly, this thread is more depressing than many of our Covid conversations....
__________________
"Time wounds all heels...." - Groucho Marx
LRDave is offline  
Old 12-11-2020, 09:10 AM   #928
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,204
Quote:
Originally Posted by Dtail View Post
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.
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
pb4uski is offline  
Old 12-12-2020, 04:18 PM   #929
Thinks s/he gets paid by the post
 
Join Date: Jul 2013
Posts: 1,871
Has anybody tried onjuno.com? The 2% interest up to $50K looks attractive, even with the monthly fee.
mrfeh is offline  
Old 12-12-2020, 04:26 PM   #930
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jan 2018
Location: Tampa
Posts: 11,197
Quote:
Originally Posted by pb4uski View Post
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.
Kind of considering the same.
__________________
TGIM
Dtail is offline  
Old 12-12-2020, 06:23 PM   #931
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
Quote:
Originally Posted by mrfeh View Post
Has anybody tried onjuno.com? The 2% interest up to $50K looks attractive, even with the monthly fee.


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.
jazz4cash is offline  
Old 12-12-2020, 06:38 PM   #932
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,204
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
pb4uski is offline  
Old 12-12-2020, 06:43 PM   #933
Thinks s/he gets paid by the post
 
Join Date: Jul 2013
Posts: 1,871
Quote:
Originally Posted by jazz4cash View Post
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
It's actually 2.15 up to $30K, but $10/month fee, "metal" plan.
mrfeh is offline  
Old 12-12-2020, 07:25 PM   #934
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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.
jazz4cash is offline  
Old 12-12-2020, 08:10 PM   #935
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,204
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
pb4uski is offline  
Old 12-13-2020, 11:04 AM   #936
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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.
jazz4cash is offline  
Old 12-13-2020, 02:16 PM   #937
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,204
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
pb4uski is offline  
Old 12-13-2020, 03:58 PM   #938
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jan 2018
Location: Tampa
Posts: 11,197
Quote:
Originally Posted by pb4uski View Post
Yes, see post #932... I just can't recall the name but it was a similar scam.
Was it Robinhood?
__________________
TGIM
Dtail is offline  
Old 12-13-2020, 04:04 PM   #939
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,204
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
pb4uski is offline  
Old 12-13-2020, 04:23 PM   #940
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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.
jazz4cash is offline  
Closed Thread


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

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
Best CD & MM Rates Thread 2019 - Please post updates here almost there FIRE and Money 929 01-01-2020 10:09 AM
Noticed more people holding signs "need work or food" rayinpenn Other topics 3 05-03-2015 02:51 PM

» Quick Links

 
All times are GMT -6. The time now is 10:26 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.