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Old 03-20-2021, 02:05 PM   #141
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I signed up for that TD Bank deal. The account opening process was very easy.
Did you have to use a special link and did you open one of each or just the savings?
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Old 03-20-2021, 06:05 PM   #142
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Did you have to use a special link and did you open one of each or just the savings?


I received a mailer directing me to TD bank.com/earn500. It said the offer was only valid for addressee and I could not find this offer by searching. At that time the offer on the general website was not as good. I only opened the Beyond Checking account ($300).
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Old 03-24-2021, 04:00 PM   #143
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Just as a point of comparison, I notice that the S&P500 dividend yield is currently about 1.8%. That's about 3.5x more than the current savings account rate at Ally. Yes, there is more risk with stocks.
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Old 03-24-2021, 06:37 PM   #144
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Just as a point of comparison, I notice that the S&P500 dividend yield is currently about 1.8%. That's about 3.5x more than the current savings account rate at Ally. Yes, there is more risk with stocks.
Just my view...if you're going to go with stock dividends as a replacement/alternative for interest on cash, consider sticking to preferred shares where there is less volatility in the share price and minimal risk to the dividend (relative to the common stock dividend). I continue picking up preferred shares in strong issuers paying 6% to 7%. Preferred shares are closer to a fixed income instrument than common shares. quantumonline.com has a good section for preferred stocks.
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Old 03-24-2021, 07:26 PM   #145
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Old 03-28-2021, 04:32 PM   #146
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Got $1.2m coming off 5 & 3% CD next month..... Nowhere to put the money...
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Old 03-28-2021, 04:40 PM   #147
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Got $1.2m coming off 5 & 3% CD next month..... Nowhere to put the money...
I know you are not in the stock market, but when rates are low over a sustained period, the choices get tougher.
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Old 03-28-2021, 05:38 PM   #148
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Just my view...if you're going to go with stock dividends as a replacement/alternative for interest on cash, consider sticking to preferred shares where there is less volatility in the share price and minimal risk to the dividend (relative to the common stock dividend). I continue picking up preferred shares in strong issuers paying 6% to 7%. Preferred shares are closer to a fixed income instrument than common shares. quantumonline.com has a good section for preferred stocks.
NJ--would you be willing to share a couple of your favorite preferred issues? What source do you used to uncover and get quotes?
Thx
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Old 03-28-2021, 08:04 PM   #149
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Some good sources are quantumonline and innovativeincomeinvestor. I also like Schwab's stock screener. I try to focus on investment grade companies but I do occasionally dip into below investment grade issues. Also check out our preferred stock thread.... https://www.early-retirement.org/for...-a-107188.html

If you get into this a real important thing to focus on is call risk... if you pay more than stated value for a preferred stock or baby bond that is callable now or soon, it might get called and you'll receive less than you paid... so as a general rule you want to also know yield-to-call (which is frequently hard to find).

Some of my holdings include Bank of America, Capital One Bank, Duke Energy, El Paos Energy, Goldman Sachs, Hartford Financial, JPMorgan Chase, MetLife, Charles Schwab, Wells Fargo and others. YMMV.
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Old 03-29-2021, 07:16 AM   #150
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Got $1.2m coming off 5 & 3% CD next month..... Nowhere to put the money...
Consider the T-mobile, UHaul, (others) investment accounts.
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Old 03-29-2021, 08:59 AM   #151
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NJ--would you be willing to share a couple of your favorite preferred issues? What source do you used to uncover and get quotes?
Thx
They are both banks, the preferred issues are small, the bid/ask spread is wide, trades are usually few and far between. You have been warned.

However, both banks are very solid, both pay respectable/sustainable common dividends (so preferred is well protected), and they have a current yield between 6% and 7%. They are both callable in 2025, but should they be called, yield to call would still be in the 5% to 6% range if purchased at current prices.

Symbols are CCNEP and LEVLP. More info is available here:

https://www.quantumonline.com/search...EP&sopt=symbol

https://www.quantumonline.com/search...LP&sopt=symbol

I am not recommending anyone purchase these, I'm simply providing the info should you wish to investigate further.
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Old 03-29-2021, 09:16 AM   #152
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I think I will pull the plug on the Capital One 360 savings account I've had since they were ING Direct. They seem to have no intention of offering competitive savings rates. 0.40% is a joke.

Considering we're about a year from buying a new car, I plan to replace it with either a local credit union account or one with Navy Federal, which has two retail locations within 30 minutes of here.
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Old 03-29-2021, 10:07 AM   #153
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I think I will pull the plug on the Capital One 360 savings account I've had since they were ING Direct. They seem to have no intention of offering competitive savings rates. 0.40% is a joke.

Considering we're about a year from buying a new car, I plan to replace it with either a local credit union account or one with Navy Federal, which has two retail locations within 30 minutes of here.
.40% is more than competitive for a B&M bank and CapOne is brick and morter. .40% is pretty good for an Internet bank which ING Direct was, and currently you can find the same rate at American Express Bank.

.60% is very good and you can find that at Live Oak Bank, for high yield savings this rate is better than Navy Federal. For all intents and purposes they are an internet bank. Customer Service is excellent. See https://www.bauerfinancial.com/cd-rate-watch/ for a list of rates at banks and credit unions.
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Old 03-29-2021, 01:07 PM   #154
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Consider the T-mobile, UHaul, (others) investment accounts.
Toyota Income Driver Notes currently pay 1.5% on demand money. NOT FDIC insured, but a pretty good credit.
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Old 03-29-2021, 01:52 PM   #155
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Toyota Income Driver Notes currently pay 1.5% on demand money. NOT FDIC insured, but a pretty good credit.
Toyota notes vs. MYGA investments.
Thoughts?
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Old 03-29-2021, 02:12 PM   #156
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Toyota notes vs. MYGA investments.
Thoughts?
All depends if you want demand money or are willing to lockup a time deposit. With MYGAs under 3%, I'm using Toyota, as I don't like the lockup.
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Old 03-29-2021, 02:39 PM   #157
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FTC Bans Beam Financial from Mobile Banking

https://www.depositaccounts.com/blog...e-banking.html
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Old 03-29-2021, 02:52 PM   #158
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.40% is more than competitive for a B&M bank and CapOne is brick and morter. .40% is pretty good for an Internet bank which ING Direct was, and currently you can find the same rate at American Express Bank.

.60% is very good and you can find that at Live Oak Bank, for high yield savings this rate is better than Navy Federal.
I hadn't realized that overall savings rates had fallen quite that much, and that it would take several years of term on a CD to even get 1%. With rates that low, I'm thinking that the access to a credit union for car loans is worth more than the interest on a modest savings account.
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Old 03-29-2021, 04:05 PM   #159
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Toyota notes vs. MYGA investments.
Thoughts?
Toyota is like an online savings account... deposit or withdraw at any time... just not FDIC insured but pay 1.5%. There are a handful of similar programs if you want to diversify the credit risk.

MYGAs are like a CD but with a more onerous early withdrawal penalty if you want your money before maturity.
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Old 03-29-2021, 04:12 PM   #160
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Toyota is like an online savings account... deposit or withdraw at any time... just not FDIC insured but pay 1.5%. There are a handful of similar programs if you want to diversify the credit risk.

MYGAs are like a CD but with a more onerous early withdrawal penalty if you want your money before maturity.
Sorry PB, I wasn't clear.
I understand each investment and have MYGA's for my parents.
I was wondering on thoughts about how this group feels about favoring one vs. the other.
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