Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 01-16-2021, 05:02 AM   #41
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jan 2018
Location: Tampa
Posts: 7,842
Quote:
Originally Posted by njhowie View Post
For us, it's $1000 to $2000 a year. That doesn't change our lives one bit either. However, when you put some context around it, like "It pays our auto insurance for the year" or "It pays our electric bills for the year", well, then the hour or two I spend on it a year is well worth the effort. I'm retired - time is the one thing I have an abundance of.

I like having my money work for me. I keep a money market statement from March 2010 tacked to the wall right in front of my computer showing "30 Day Yield: 0.01%" just to remind me what receiving $1.74 over a 3 month period for $72,000 looks like. Never again. $100, $200, $300 for clicking a few buttons and letting my money sit in one bank's computer versus some other? Who would believe they actually pay so much for doing so little? 10 or 20 years ago who could have imagined such a thing? I'll pick up the $100 bill every time I see it on the ground - it's not too much effort for me.
Some of the same arguments are made for folks not interested in managing CC rewards, which admittingly is a little more work, but not too much more.
__________________
TGIM
Dtail 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 01-16-2021, 09:22 AM   #42
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 6,617
Hunh. This morning Ally bank says our 1.9% CD has matured and is now sitting in our Ally savings account earning 0.5%. I'm going to move $10K of it over to a Navy FCU addon CD I set up that matures in November that pays 1.34%. Figure that will earn about $73 more than if I let it sit in Ally at current rates. It will take less time than typing this out has. Why would I not take the extra $73 and the satisfaction that comes from having the money working a bit harder? How is that different than maximizing bank bonus money?
__________________
"Be kind whenever possible. It is always possible." Dalai Lama
calmloki is offline   Reply With Quote
Old 01-16-2021, 09:38 AM   #43
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 12,010
The Vanguard Short Term Investment grade fund is looking better and better these days.
__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Old 01-16-2021, 11:38 AM   #44
Thinks s/he gets paid by the post
Sojourner's Avatar
 
Join Date: Jan 2012
Posts: 1,441
Quote:
Originally Posted by Dtail View Post
Some of the same arguments are made for folks not interested in managing CC rewards, which admittingly is a little more work, but not too much more.
Even though I've stopped chasing bank account sign-up/transfer bonuses, I view larger CC bonuses a bit differently. For example, I'm currently eyeing the Chase Ink Business Cash CC and its $750 sign-up bonus. If used for booking travel through the Chase UR portal, the bonus is actually more like $935... and that's after-tax money. This is better than getting a $1,000 taxable bonus from a bank or brokerage account sign-up deal. IMHO, that passes my threshold for "worth my time and effort", whereas the smaller, taxable bank sign-up bonuses generally don't.
Sojourner is offline   Reply With Quote
Old 01-16-2021, 12:01 PM   #45
Full time employment: Posting here.
 
Join Date: May 2019
Posts: 589
I have a few NFCU CDs coming up for renewal, all 3%. Just checked their renewal rates - .55% for 12 month, .6% for 18 month.

I would consider moving to Ally for .6% on a 12 month, but I think NFCU has a limit on transferring out.
GenXguy is offline   Reply With Quote
Old 01-16-2021, 12:06 PM   #46
Recycles dryer sheets
 
Join Date: Oct 2018
Location: Marlborough
Posts: 165
Quote:
Originally Posted by target2019 View Post
Banks should simply send money to us, just like rich Uncle Sam!
RIIIIIIIGHT!
Timeisprecious is offline   Reply With Quote
Old 01-16-2021, 12:23 PM   #47
Thinks s/he gets paid by the post
Sojourner's Avatar
 
Join Date: Jan 2012
Posts: 1,441
Quote:
Originally Posted by GenXguy View Post
I have a few NFCU CDs coming up for renewal, all 3%. Just checked their renewal rates - .55% for 12 month, .6% for 18 month.

I would consider moving to Ally for .6% on a 12 month, but I think NFCU has a limit on transferring out.
The difference between 0.6% and 0.55% amounts to a mere $50 over an entire year for a $100,000 CD (for example). Just pointing out the tiny amounts of money under consideration here.
Sojourner is offline   Reply With Quote
Old 01-16-2021, 12:34 PM   #48
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jan 2018
Location: Tampa
Posts: 7,842
Quote:
Originally Posted by GenXguy View Post
I have a few NFCU CDs coming up for renewal, all 3%. Just checked their renewal rates - .55% for 12 month, .6% for 18 month.

I would consider moving to Ally for .6% on a 12 month, but I think NFCU has a limit on transferring out.
Perhaps move it from the Ally side.
__________________
TGIM
Dtail is offline   Reply With Quote
Old 01-16-2021, 01:28 PM   #49
Thinks s/he gets paid by the post
 
Join Date: Aug 2016
Location: Northern Virginia
Posts: 2,991
Quote:
Originally Posted by Chuckanut View Post
The Vanguard Short Term Investment grade fund is looking better and better these days.
I put a bit of my maturing CD money in the market neutral Merger Fund (MERFX), per discussion in last years thread. It is merger arbitrage, pays interest once a year. I'm guessing I will earn 2-3 percent in this low rate environment where I expect there will be a lot of merger activity.

I also bought a closed end fund which invests in bank loans, which have been out of favor (10 pct discount to NAV) recently. Definitely more risk than a CD but I expect little change in short rates in this unique year.

And I still have CDs at 3.3 pct and one maturing mid-year. And my MM at CFG Bank appears to be holding now at .72 pct.
Montecfo is offline   Reply With Quote
MYGAs to replace CDs
Old 01-19-2021, 01:25 AM   #50
Dryer sheet aficionado
 
Join Date: Feb 2014
Posts: 43
MYGAs to replace CDs

With CD rates so low, Iíve switched to investing maturing CDs into insurance company issued MYGAs, which are very similar. You can find 3% for 5 year MYGAs. Granted they are not FDIC insured. One advantage is that taxes on earnings are deferred until the money is withdrawn.
rrppve is offline   Reply With Quote
Old 01-19-2021, 08:19 PM   #51
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 5,758
Quote:
Originally Posted by rrppve View Post
With CD rates so low, Iíve switched to investing maturing CDs into insurance company issued MYGAs, which are very similar. You can find 3% for 5 year MYGAs. Granted they are not FDIC insured. One advantage is that taxes on earnings are deferred until the money is withdrawn.


+1. I locked one in just before rate dropped from 3.05 to 2.5 for A rated insurer. If I was buying today Iíd accept B+ to get 3%. It took 5 weeks to fund. I really like the 10% /yr withdrawal feature even though I shouldnít need to do that. I have a bit of room to add-onto my NFCU CD. I am very surprised by some of the riskier suggestions to replace FDIC CDs.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
jazz4cash is offline   Reply With Quote
Old 01-19-2021, 10:05 PM   #52
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: 28,731
Quote:
Originally Posted by GenXguy View Post
I have a few NFCU CDs coming up for renewal, all 3%. Just checked their renewal rates - .55% for 12 month, .6% for 18 month.

I would consider moving to Ally for .6% on a 12 month, but I think NFCU has a limit on transferring out.
You can pull from Ally once you have a bank transfer link established. Limits are very high, and NFCU limit will not apply.

Ally is currently offering a 15 month 0.65% CD special. You may have to google it as Ally doesnít include the offer in their standard CD list.
__________________
Retired since summer 1999.
audreyh1 is offline   Reply With Quote
Old 01-20-2021, 07:16 AM   #53
Dryer sheet aficionado
 
Join Date: Aug 2007
Posts: 44
Quote:
Originally Posted by audreyh1 View Post
You can pull from Ally once you have a bank transfer link established. Limits are very high, and NFCU limit will not apply.

Ally is currently offering a 15 month 0.65% CD special. You may have to google it as Ally doesnít include the offer in their standard CD list.

Here is the link to the Ally 15 month(Select CD) special:


https://www.ally.com/go/bank/15m-select-cd/
Mike1968 is offline   Reply With Quote
Old 01-20-2021, 08:23 AM   #54
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: 28,915
Sad that 0.65% for 15 months is attractive enough to be worthy of mention... but those are the times that we live in.
__________________
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...target 65/35/0 AA TBD
pb4uski is offline   Reply With Quote
Old 01-20-2021, 08:36 AM   #55
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: 28,731
Yes, it’s still better than MM funds at brokerages, and most high yield savings accounts which can continue to drop further.

The extra 0.5% bonus for renewing an Ally CD at least brought it to 0.7%.
__________________
Retired since summer 1999.
audreyh1 is offline   Reply With Quote
Old 01-20-2021, 08:41 AM   #56
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: 28,915
Quote:
Originally Posted by audreyh1 View Post
Yes, itís still better than MM funds at brokerages, and most high yield savings accounts which can continue to drop further.

The extra 0.5% bonus for renewing an Ally CD at least brought it to 0.7%.
You mean 0.05% bonus... right?
__________________
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...target 65/35/0 AA TBD
pb4uski is offline   Reply With Quote
Old 01-20-2021, 01:18 PM   #57
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jan 2018
Location: Tampa
Posts: 7,842
Quote:
Originally Posted by pb4uski View Post
You mean 0.05% bonus... right?
Yes.
__________________
TGIM
Dtail is offline   Reply With Quote
Old 01-25-2021, 06:09 PM   #58
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: 28,731
Quote:
Originally Posted by pb4uski View Post
You mean 0.05% bonus... right?
Right, sorry!
__________________
Retired since summer 1999.
audreyh1 is offline   Reply With Quote
Old 01-25-2021, 06:11 PM   #59
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: 28,731
The Ally 15 month "Select" promotional CD offer has been extended to 5/04/21 and is currently still offered at 0.65%.

If you rollover a maturing Ally CD you get an additional 0.05% interest rate bonus added.
https://www.ally.com/go/bank/15m-select-cd/
__________________
Retired since summer 1999.
audreyh1 is offline   Reply With Quote
Old 01-25-2021, 11:09 PM   #60
Recycles dryer sheets
 
Join Date: May 2015
Posts: 66
Quote:
Originally Posted by audreyh1 View Post
The Ally 15 month "Select" promotional CD offer has been extended to 5/04/21 and is currently still offered at 0.65%.

If you rollover a maturing Ally CD you get an additional 0.05% interest rate bonus added.
https://www.ally.com/go/bank/15m-select-cd/


Well, this may be one I look into. Thanks for the tip. The end of last year I did the Citi bonus offer: deposit 50k for 60 days and get $700 bonus. I just got the bonus deposited and am in the process of closing that account. Need to park the money somewhere.
BergLust is offline   Reply With Quote
Reply


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

Advanced Search
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 & Bank Special Deals Thread 2020 - Please post updates here ShokWaveRider FIRE and Money 976 12-31-2020 11:51 PM

» Quick Links

 
All times are GMT -6. The time now is 01:53 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.