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Old 07-05-2023, 02:10 PM   #1561
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Not sure you answered my Queston, but I get it. If the RMS for a 72 year old are 27.4 per the tables. Assuming a $500k IRA at the beginning of the year of the year. 6% added would make it $530k. 4% of $530 = $21.2k - $530k/27.4 = $19.343k so one does not have to take any more even though one made more. Sounds OK to me.
You only have to take what the IRS formula (table factor by year) dictates. You can take more, of course, and pay the extra tax. It's based on the 12/31 ending balance in the IRA, not at the start of the year.
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Old 07-05-2023, 02:14 PM   #1562
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You only have to take what the IRS formula (table factor by year) dictates. You can take more, of course, and pay the extra tax. It's based on the 12/31 ending balance in the IRA, not at the start of the year.
I know, I took that into account in my calculation.
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Old 07-05-2023, 02:14 PM   #1563
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Originally Posted by ShokWaveRider View Post
Not sure you answered my Queston, but I get it. If the RMS for a 72 year old are 27.4 per the tables. Assuming a $500k IRA at the beginning of the year of the year. 6% added would make it $530k. 4% of $530 = $21.2k - $530k/27.4 = $19.343k so one does not have to take any more even though one made more. Sounds OK to me.
Correct, no different than earning 6% on stocks in that one year.
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Old 07-05-2023, 03:16 PM   #1564
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Originally Posted by ShokWaveRider View Post
Not sure you answered my Queston, but I get it. If the RMS for a 72 year old are 27.4 per the tables. Assuming a $500k IRA at the beginning of the year of the year. 6% added would make it $530k. 4% of $530 = $21.2k - $530k/27.4 = $19.343k so one does not have to take any more even though one made more. Sounds OK to me.
The having to take more because you made more part happens the following year.
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Old 07-05-2023, 03:47 PM   #1565
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Western State Bank just upped their High Yield Money Market (HYMM) account to 5.15% Better in my opinion than a CD since you get liquidity!

https://apps.westernbanks.com/
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Old 07-05-2023, 04:40 PM   #1566
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Nice, PaunchyP - 5.55% is more than anything I see on Fido. I agree with your assessment. A 6-month minimum at 5.55% seems like a pretty good bet.

DSN6M2734 - 13 month 5.55% callable 10/12/2023

DSN6T9323 - 13 month 5.55% callable 1/11/2024
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Old 07-05-2023, 05:23 PM   #1567
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These #s don’t exist on Vanguards system when I enter them.
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Old 07-05-2023, 05:33 PM   #1568
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These #s donít exist on Vanguards system when I enter them.

For new issue CDs, Fidelity assigns them a temporary/internal code, which when issued changes to the real CUSIP. Those temporary codes will only work in Fidelity when you do a lookup by CUSIP.
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Old 07-05-2023, 05:38 PM   #1569
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These #s don’t exist on Vanguards system when I enter them.
Vanguard has some callable JP Morgan Chase CDs at 5.55%. One of them is CUSIP 46656MEX5. If you look at their CD options on the fixed income quick search page, you'll definitely see them.
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Old 07-05-2023, 07:21 PM   #1570
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Vanguard has some callable JP Morgan Chase CDs at 5.55%. One of them is CUSIP 46656MEX5. If you look at their CD options on the fixed income quick search page, you'll definitely see them.
This is the CUSIP for the one I bought at Schwab today.
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Old 07-05-2023, 09:55 PM   #1571
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Western State Bank just upped their High Yield Money Market (HYMM) account to 5.15% Better in my opinion than a CD since you get liquidity!

https://apps.westernbanks.com/
You do get liquidity but no downside protection which is likely to matter in the next 12 months.
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Old 07-05-2023, 11:06 PM   #1572
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Who’s the issuing bank?
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Old 07-06-2023, 06:11 AM   #1573
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Quote:
Originally Posted by ShokWaveRider View Post
Not sure you answered my Queston, but I get it. If the RMS for a 72 year old are 27.4 per the tables. Assuming a $500k IRA at the beginning of the year of the year. 6% added would make it $530k. 4% of $530 = $21.2k - $530k/27.4 = $19.343k so one does not have to take any more even though one made more. Sounds OK to me.
The point is that you can take the whole IRA out if you want to as long as you pay the tax. The RMD is a mechanism to ensure that taxes are not deferred forever.

While I'm sure that you know this, just because you have to withdraw the money doesn't mean that you have to spend it. Some people don't understand that part.
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Old 07-06-2023, 06:56 AM   #1574
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While I'm sure that you know this, just because you have to withdraw the money doesn't mean that you have to spend it. Some people don't understand that part.
Yes I do, thanks.
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Old 07-06-2023, 07:39 AM   #1575
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Western State Bank just upped their High Yield Money Market (HYMM) account to 5.15% Better in my opinion than a CD since you get liquidity!
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You do get liquidity but no downside protection which is likely to matter in the next 12 months.
Liquidity is important, but not for all your savings. I have a large chunk of cash at All America Bank currently earning 5.05%. Nice rate, but for how long? I was pretty confident I could tie up half of what I had in a CD to lock in a rate which won't change, unlike a high yield account which could change on any given day. I scooped up a 3 year certificate at a credit union with a APY of 5.50%. Now I have liquidity that I may need over the next 3 years and a great guaranteed rate on cash I'm pretty confident I won't need over that same time period. Have your cake and eat it.
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Old 07-06-2023, 09:17 AM   #1576
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For those settling for 5.2, 5.3% on brokered CD's, just a reminder that NASA FCU still has its 9-month 5.65% APY CD, 15-month @ 5.45%.

Easy membership requirement and you can do the deposit via co-op branch network.

10K minimum.

I've been opening some of these as money trickles in with non-IRA money (too much hassle for me to do with tax-deferred accounts).

https://www.nasafcu.com/

and credit to Deposit Accounts: https://www.depositaccounts.com/bank...-union/offers/
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Old 07-06-2023, 09:25 AM   #1577
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[QUOTE=copyright1997reloaded;2953574]For those settling for 5.2, 5.3% on brokered CD's, just a reminder that NASA FCU still has its 9-month 5.65% APY CD, 15-month @ 5.45%.

Easy membership requirement and you can do the deposit via co-op branch network.

10K minimum.

I tried to open an account online and it was too difficult. I don't understand why they don't have an in person branch at NASA Ames, which must be one of the largest "satellite" operations. The co-op branch idea is appealing. Where is it shown on the website?
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Old 07-06-2023, 09:28 AM   #1578
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[QUOTE=Another Reader;2953580]
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Originally Posted by copyright1997reloaded View Post
For those settling for 5.2, 5.3% on brokered CD's, just a reminder that NASA FCU still has its 9-month 5.65% APY CD, 15-month @ 5.45%.

Easy membership requirement and you can do the deposit via co-op branch network.

10K minimum.

I tried to open an account online and it was too difficult. I don't understand why they don't have an in person branch at NASA Ames, which must be one of the largest "satellite" operations. The co-op branch idea is appealing. Where is it shown on the website?
https://www.nasafcu.com/branches-atms/shared-branches
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Old Dominion National Bank 12-Month CD Special 5.75% (4 states)
Old 07-13-2023, 08:09 AM   #1579
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Old Dominion National Bank 12-Month CD Special 5.75% (4 states)

$500 minimum

Sharing from depositaccounts.com

https://www.depositaccounts.com/bank...l-bank/offers/
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Old 07-13-2023, 10:03 AM   #1580
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I have dormant accounts at NASA and that Old Dominion looks tempting. Just wish they were for longer.

Maybe B&M bank CDs are coming roaring back. All my money is at my broker now.
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