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03-20-2021, 02:05 PM
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#141
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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 jazz4cash
I signed up for that TD Bank deal. The account opening process was very easy.
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Did you have to use a special link and did you open one of each or just the savings?
__________________
"Luck favors the prepared mind"
Pasteur
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03-20-2021, 06:05 PM
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#142
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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 Golden sunsets
Did you have to use a special link and did you open one of each or just the savings?
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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).
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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03-24-2021, 04:00 PM
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#143
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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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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.
__________________
Comparison is the thief of joy
The worst decisions are usually made in times of anger and impatience.
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03-24-2021, 06:37 PM
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#144
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Thinks s/he gets paid by the post
Join Date: Mar 2012
Posts: 3,925
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Quote:
Originally Posted by Chuckanut
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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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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03-24-2021, 07:26 PM
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#145
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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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+1
__________________
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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03-28-2021, 04:32 PM
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#146
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,654
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Got $1.2m coming off 5 & 3% CD next month..... Nowhere to put the money...
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"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
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03-28-2021, 04:40 PM
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#147
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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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I know you are not in the stock market, but when rates are low over a sustained period, the choices get tougher.
__________________
TGIM
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03-28-2021, 05:38 PM
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#148
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Thinks s/he gets paid by the post
Join Date: Jun 2004
Location: W Wash
Posts: 1,643
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Quote:
Originally Posted by njhowie
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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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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03-28-2021, 08:04 PM
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#149
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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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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.
__________________
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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03-29-2021, 07:16 AM
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#150
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Full time employment: Posting here.
Join Date: Dec 2017
Posts: 942
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Consider the T-mobile, UHaul, (others) investment accounts.
__________________
FIREd at 59.5 on 2019-01-18
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03-29-2021, 08:59 AM
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#151
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Thinks s/he gets paid by the post
Join Date: Mar 2012
Posts: 3,925
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Quote:
Originally Posted by nwsteve
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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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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03-29-2021, 09:16 AM
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#152
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Posts: 1,635
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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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03-29-2021, 10:07 AM
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#153
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,599
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Quote:
Originally Posted by Out of Steam
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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.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.
__________________
Only got A dimple, would have preferred 2!
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03-29-2021, 01:07 PM
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#154
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Recycles dryer sheets
Join Date: Feb 2014
Posts: 59
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Quote:
Originally Posted by camfused
Consider the T-mobile, UHaul, (others) investment accounts.
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Toyota Income Driver Notes currently pay 1.5% on demand money. NOT FDIC insured, but a pretty good credit.
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03-29-2021, 01:52 PM
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#155
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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 rrppve
Toyota Income Driver Notes currently pay 1.5% on demand money. NOT FDIC insured, but a pretty good credit.
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Toyota notes vs. MYGA investments.
Thoughts?
__________________
TGIM
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03-29-2021, 02:12 PM
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#156
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Recycles dryer sheets
Join Date: Feb 2014
Posts: 59
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Quote:
Originally Posted by Dtail
Toyota notes vs. MYGA investments.
Thoughts?
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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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FTC Bans Beam Financial from Mobile Banking
03-29-2021, 02:39 PM
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#157
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Thinks s/he gets paid by the post
Join Date: Jan 2019
Location: Sunny California
Posts: 2,567
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FTC Bans Beam Financial from Mobile Banking
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03-29-2021, 02:52 PM
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#158
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Posts: 1,635
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Quote:
Originally Posted by Gotadimple
.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.
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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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03-29-2021, 04:05 PM
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#159
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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
Toyota notes vs. MYGA investments.
Thoughts?
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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.
__________________
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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03-29-2021, 04:12 PM
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#160
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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
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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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.
__________________
TGIM
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