Ridiculous CD rates - where now

Koolau said:
We occasionally end up with us much as half a year's spending in the check book at one time. Usually happens after our yearly RMD (or whatever I'm calling it this year since I took it but didn't have to.) The nice wahine and tutus at the bank always suggest a CD when that happens. But our in-and-out flow can be spectacular, though "spotty" so it makes no sense to me to go for even a 3 mo CD or similar. Besides the interest is too paltry to even bother. I'd keep it under the mattress before I'd give the banks the pleasure of tying up my cash for so little interest. But, I'm not bitter!:angel: Besides, I love the folks at the bank - 90 degress off topic, but I would miss going to the bank if I decided to bank online. YMMV
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High yield savings accounts are great places to park several months worth of living expenses.
 
Koolau said:
We occasionally end up with us much as half a year's spending in the check book at one time. Usually happens after our yearly RMD (or whatever I'm calling it this year since I took it but didn't have to.) The nice wahine and tutus at the bank always suggest a CD when that happens. But our in-and-out flow can be spectacular, though "spotty" so it makes no sense to me to go for even a 3 mo CD or similar. Besides the interest is too paltry to even bother. I'd keep it under the mattress before I'd give the banks the pleasure of tying up my cash for so little interest. But, I'm not bitter!:angel: Besides, I love the folks at the bank - 90 degress off topic, but I would miss going to the bank if I decided to bank online. YMMV
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What is wahine and tutus? Wait, are you saying someone at the bank is suggesting you have too much in checking? I can’t imagine a teller or some other schmo even commenting without being asked. Reminds me of an episode on the Wells Fargo scandal I watched recently. One more reason for me not to go inside.
 
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Koolau said:
We occasionally end up with us much as half a year's spending in the check book at one time. Usually happens after our yearly RMD (or whatever I'm calling it this year since I took it but didn't have to.) The nice wahine and tutus at the bank always suggest a CD when that happens. But our in-and-out flow can be spectacular, though "spotty" so it makes no sense to me to go for even a 3 mo CD or similar. Besides the interest is too paltry to even bother. I'd keep it under the mattress before I'd give the banks the pleasure of tying up my cash for so little interest. But, I'm not bitter!:angel: Besides, I love the folks at the bank - 90 degress off topic, but I would miss going to the bank if I decided to bank online. YMMV
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Wait until you are 85, and they will suggest a 10 yr annuity with your "extra" money if they are like the banks local to me. :mad:
 
I almost never go inside the bank but I do go into the credit union a few times a year. Now that I think about it I do seem to recall noting a change in facial expression when they pull up my account but they never comment and I don’t really have that much in my accounts. It must be a commission/referral thing at certain banks.
 
jazz4cash said:
What is wahine and tutus?
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This called to memory the movie "One Way Wahine". I remember seeing it as a kid, I had to look it up I believe it was 1966.

In the movie wahine meant a girl, but perhaps in this context it refers to one who is somewhat on the make?

Or perhaps clueless.

It's a beach movie but Tab Hunter is not in it.
 
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CardsFan said:
If it doesn't have Tab Hunter, Sandra Dee, Annette Funicello or Frankie Avalon, then its just a movie about a beach, not a "beach movie" :D:D
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Yeah, I know what you mean. If you like the genre, one of my favorites is "Ride the Wild Surf" with Shelley Fabares (oh so cute), Fabian, Barbara Eden, Peter Brown (who stared in all those western movies and shows but his hair is bleach blond here). Oh yes, and Tab Hunter.

It is actually pretty good. No beach blanket bingo and they do not seem very focused on CD rates. But there are some excellent surfing sequences mixed in and nice Hawaii scenery.
 
Montecfo said:
This called to memory the movie "One Way Wahine". I remember seeing it as a kid, I had to look it up I believe it was 1966.

In the movie wahine meant a girl,
Click to expand...

In my first trip to Hawaii, I was a young 20-something. I spent a lot of time with my telephoto lens photographing the Wahine. It definitely meant 'girl' to me.

After a few days of enjoyable photography, I put aside the telephoto lens at times, and decided to investigate the Wahine up close.
 
Montecfo said:
Yeah, I know what you mean. If you like the genre, one of my favorites is "Ride the Wild Surf" with Shelley Fabares (oh so cute)....
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I had never heard of her... but this guy seemed interested in her:
1080full-shelley-fabares.jpg
 
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Montecfo said:
Yeah, I know what you mean. If you like the genre, one of my favorites is "Ride the Wild Surf" with Shelley Fabares (oh so cute), Fabian, Barbara Eden, Peter Brown (who stared in all those western movies and shows but his hair is bleach blond here). Oh yes, and Tab Hunter.

It is actually pretty good. No beach blanket bingo and they do not seem very focused on CD rates. But there are some excellent surfing sequences mixed in and nice Hawaii scenery.
Click to expand...

OK, now that we have officially hijacked this thread, how could I forget Shelley Fabares, and Fabian!
 
End of the year, a time to reflect on what all hasn't been done as well as possible. Got busy and am scraping any extra cash from random accounts and stuffing it into the spare space in our GTE 3% maturing 2024 account. We have a number of 3+% accounts maturing from mid January to the end of March and there is no good reason to wait to add to the GTE CD. If stocks go on sale or something juicy pops up that needs fast cash we can break one or more of the Ally no-penalty CDs maturing end of March to pay for it. Just silly not to have as much as possible making 3%. Of course compared to market performance in 2020 3% is small potatoes, but I'm a big chicken - maybe 22% stocks at age 70.

We just each scored $750 bonus amounts from BofA - they held $50k each of our money in individual Business Advantage Fundamentals accounts for 3 months. So 6%/annum, but only for a 3 month period. Who all else is working schemes to improve their interest income - and what are they?
 
jazz4cash said:
What is wahine and tutus? Wait, are you saying someone at the bank is suggesting you have too much in checking? I can’t imagine a teller or some other schmo even commenting without being asked. Reminds me of an episode on the Wells Fargo scandal I watched recently. One more reason for me not to go inside.
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Wahine = young woman. Tutu = older lady. (Tutu wahine = grandma - I just threw that in for free.):cool:

Yes, when the checking acct. gets a significant amount of money in it, the bank folks sometimes suggest a CD (not as much now that CDs earn so little.) I assume that's mgmt. policy. Tied-up money (like in a CD) can be loaned out at higher multiples IIRC. YMMV
 
Koolau said:
Wahine = young woman. Tutu = older lady. (Tutu wahine = grandma - I just threw that in for free.):cool:

Yes, when the checking acct. gets a significant amount of money in it, the bank folks sometimes suggest a CD (not as much now that CDs earn so little.) I assume that's mgmt. policy. Tied-up money (like in a CD) can be loaned out at higher multiples IIRC. YMMV
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It's kind of a profit thing.:D
 
calmloki said:
End of the year, a time to reflect on what all hasn't been done as well as possible. Got busy and am scraping any extra cash from random accounts and stuffing it into the spare space in our GTE 3% maturing 2024 account. We have a number of 3+% accounts maturing from mid January to the end of March and there is no good reason to wait to add to the GTE CD. If stocks go on sale or something juicy pops up that needs fast cash we can break one or more of the Ally no-penalty CDs maturing end of March to pay for it. Just silly not to have as much as possible making 3%. Of course compared to market performance in 2020 3% is small potatoes, but I'm a big chicken - maybe 22% stocks at age 70.

We just each scored $750 bonus amounts from BofA - they held $50k each of our money in individual Business Advantage Fundamentals accounts for 3 months. So 6%/annum, but only for a 3 month period. Who all else is working schemes to improve their interest income - and what are they?
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I'm like you, but @77 years old, and about 25% equities and the rest scattered around in short term bond funds, CD's ending early 2021, some preferred stock, and cash earning nothing.

There just aren't any decent and safe ways to earn enough to beat inflation. They are killing us older folks with ZIRP. I even have the equities hedged with the Cambria TAIL Risk ETF.

https://www.cambriafunds.com/tail

No new schemes to get 2+% unfortunately. :blush:
 
Chuckanut said:
In my first trip to Hawaii, I was a young 20-something. I spent a lot of time with my telephoto lens photographing the Wahine. It definitely meant 'girl' to me.

After a few days of enjoyable photography, I put aside the telephoto lens at times, and decided to investigate the Wahine up close.
Click to expand...

Perhaps we can get a full report in a separate thread! :)
 
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