Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Old 10-12-2022, 12:16 PM   #21
Thinks s/he gets paid by the post
 
Join Date: Feb 2014
Location: South central PA
Posts: 3,469
I thought of that, but how can you tell?
EastWest Gal 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 10-12-2022, 12:27 PM   #22
Full time employment: Posting here.
jldavid47's Avatar
 
Join Date: Mar 2019
Posts: 749
Quote:
Originally Posted by Chuckanut View Post
I would think a brokerage house would warn us if we tried to buy more $$' worth of CD or bonds than we have in our trading account.
Schwab, in fact, does that. If I put in a bond trade for more than I have available in cash, in my taxable account I get a warning that I do not have enough settled cash and that I may be charged margin interest if I continue. In my IRA I'm simply not allowed to place the trade. I'd be willing to bet other brokerage firms do the same.
jldavid47 is offline   Reply With Quote
Old 10-12-2022, 12:47 PM   #23
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: 38,008
FWIW I only use Treasury Direct to purchase and redeem IBonds.

For Treasury auctions I order though my broker.
__________________
Retired since summer 1999.
audreyh1 is offline   Reply With Quote
Cheers!
Old 10-12-2022, 05:16 PM   #24
Full time employment: Posting here.
 
Join Date: May 2019
Posts: 520
Cheers!

Quote:
Originally Posted by DJRR View Post
See, we warned you all this market timing and trading would lead to doom

I always have to remind my self: I don't want 10,000 bonds, I want 10 bonds for $10,000.

I am sure it has happened many times so it will work out, but with current lack of customer service employees it may take a while to get to someone with a brain. Maybe a reason to buy via a brokerage account? I am pretty sure Fidelity would stop me from processing that transaction.
Hee hee!!!! I knew that one would come. Well played, well played.
MichealKnight is offline   Reply With Quote
Old 10-12-2022, 05:24 PM   #25
Administrator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,586
Quote:
Originally Posted by audreyh1 View Post
For Treasury auctions I order though my broker.
There’s no downside to that, right?
MichaelB is offline   Reply With Quote
Old 10-12-2022, 05:46 PM   #26
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: 38,008
Quote:
Originally Posted by MichaelB View Post
There’s no downside to that, right?
The only downside that I know of is that you can’t order for some future unannounced treasury auction which I saw mentioned as an option via Treasury Direct.

Otherwise far easier dealing with the logistics via a broker for me.
__________________
Retired since summer 1999.
audreyh1 is offline   Reply With Quote
Old 10-12-2022, 07:56 PM   #27
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2016
Location: Colorado
Posts: 8,971
Its like writing a check you can’t fund. You’ll get hit for insufficient funds and maybe cutoff from TD.
If you have overdraft, maybe your bank funds it and you’re on the hook for big bucks.
If I am buying six figures of anything and personally would not just for diversification purposes, I am triple checking everything.
Also I buy everything through Fidelity, new issues or secondary. They wouldn’t let this happen.
COcheesehead is offline   Reply With Quote
Old 10-13-2022, 03:36 AM   #28
Dryer sheet aficionado
 
Join Date: Feb 2005
Location: San Pedro, Belize
Posts: 48
I actually have a large number of Treasury Direct accounts, both personal, trust and LLC entity accounts. I have actually found TD to be very efficient but twice I have made mistakes in transactions, both my bad. Both times the two accounts in error were locked temporarily. In both cases I made an earliest morning call to TD toll free number and waited with each up to two hours. Since they were my obvious mistakes, I deserved the time of wait. In both cases, TD did get to my call, was very polite and understanding and unlocked the account. I had my hat in hand in my conversations. I am now very accurate with this site.

In my opinion, no transaction will occur. Your account will be locked. You will go through the above to have it unlocked. No harm and lesson learned as with me.
sailaway is offline   Reply With Quote
Old 10-13-2022, 04:32 AM   #29
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 22,973
Quote:
Originally Posted by MichealKnight View Post
....
A few days ago I put in an order on Treasury Direct (this after 3 attempts to logon). I wanted to put $100,000 in a 26 week bill.....

So today I go to look at the site, give my holdings a once over and guess what - seems I put in an order for.... 1,000,000 - - yes, that's right - I added a zero. It's rather - uh - meaningful zero. ...
I usually have the opposite problem. I mean to buy $10 million but only put in $10 thousand. Damned inconvenient, I tell you.
__________________
Living an analog life in the Digital Age.
Gumby is offline   Reply With Quote
Update 10/13
Old 10-13-2022, 06:42 AM   #30
Full time employment: Posting here.
 
Join Date: May 2019
Posts: 520
Update 10/13

Well, my Treasury account shows the extra $1 MM in treasuries.

Looks kinda neat actually.

Don't see any withdrawal from bank account. (Discover says they froze it)


Per the info that MichaelB found - I assume this will eventually reverse.

For those interested - yesterday I wondered if I deserved a slap on the back of the head of a Whopper with Cheese. I couldn't decide - so I slapped the back of my head in the drive thru parking lot - and that Whopper was good.

They say God lives inside all of us. Well, I hope he likes Whoppers cause that's what he got.
MichealKnight is offline   Reply With Quote
Old 10-13-2022, 08:17 AM   #31
Moderator
 
Join Date: Jul 2017
Posts: 5,664
Quote:
Originally Posted by Gumby View Post
I usually have the opposite problem. I mean to buy $10 million but only put in $10 thousand. Damned inconvenient, I tell you.
__________________
Use it up, wear it out, make it do or do without.
MarieIG is offline   Reply With Quote
Old 10-13-2022, 08:56 AM   #32
Administrator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,586
Quote:
Originally Posted by MichealKnight View Post
Well, my Treasury account shows the extra $1 MM in treasuries.

Looks kinda neat actually.

Don't see any withdrawal from bank account. (Discover says they froze it)
Mr. Knight, this is Mr. D, a manager calling from Discover Bank. It looks like we have a bit of a thing here, it seems your account is overdrawn by $900 thousand. Your overdraft protection covers part of that but a sudden drop in your credit rating means the cost will be a bit higher than expected. The overdraft charge is $14590, we’ve already debited that to your account and our legal dept is freezing all your assets until we can sort this out. If you have any questions please call me at 1-800-you’re SOL

Have a pleasant rest of your day.
MichaelB is offline   Reply With Quote
Old 10-13-2022, 10:02 AM   #33
Moderator
 
Join Date: Jul 2017
Posts: 5,664
Quote:
Originally Posted by MichaelB View Post
Mr. Knight, this is Mr. D, a manager calling from Discover Bank. It looks like we have a bit of a thing here, it seems your account is overdrawn by $900 thousand. Your overdraft protection covers part of that but a sudden drop in your credit rating means the cost will be a bit higher than expected. The overdraft charge is $14590, we’ve already debited that to your account and our legal dept is freezing all your assets until we can sort this out. If you have any questions please call me at 1-800-you’re SOL

Have a pleasant rest of your day.


No wonder Michael needs his comfort food!
__________________
Use it up, wear it out, make it do or do without.
MarieIG is offline   Reply With Quote
Old 10-15-2022, 07:28 PM   #34
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Location: Upstate
Posts: 2,948
Quote:
Originally Posted by Gumby View Post
I usually have the opposite problem. I mean to buy $10 million but only put in $10 thousand. Damned inconvenient, I tell you.
I have (at least three times now) gone to buy a single share of something in my child's account only to find out (usually within a minute or two) that I accidently did it in my own account.

Not quite the same as your situation
copyright1997reloaded is offline   Reply With Quote
Old 10-15-2022, 11:05 PM   #35
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,012
Quote:
Originally Posted by MichaelB View Post
There’s no downside to that, right?
I have found it very easy to do at Vanguard, online with a few clicks and I'm all set up as each auction gets done.
When they mature, the money goes back to my account, so I can buy something else.

I find it easier as everything is in 1 place, stocks and bonds and cd and treasuries.. It's only the I-bond at treasury direct since brokerages don't sell it.

I have found some brokerage websites are easier to buy treasury auctions than some others.
__________________
Fortune favors the prepared mind. ... Louis Pasteur
Sunset is offline   Reply With Quote
Old 10-16-2022, 04:22 AM   #36
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
JoeWras's Avatar
 
Join Date: Sep 2012
Posts: 11,701
I've changed my methods and moved from TD to using Fidelity and Vanguard for all treasuries except iBonds. It is easier on the brokerage, and more flexible since you can sell if you must.

In TD, I recommend only working through the C&I. It is safer. When bank rates were near zero, it also didn't matter much. Today, I can understand the urgency to avoid C&I.

Years ago, I made one mistake where I bought $10k of TIPS and I had $10k in C&I. The TIPS sold at a premium for something like $10.5k. The transaction failed immediately and I got an email notice. I wasn't locked out. I wonder if the locking is a new thing, or only if you have a reversal from your bank?
__________________
Retired Class of 2018


JoeWras is offline   Reply With Quote
Old 10-16-2022, 08:30 AM   #37
Thinks s/he gets paid by the post
 
Join Date: Aug 2013
Posts: 1,969
Quote:
Originally Posted by MichaelB View Post
Mr. Knight, this is Mr. D, a manager calling from Discover Bank. It looks like we have a bit of a thing here, it seems your account is overdrawn by $900 thousand. Your overdraft protection covers part of that but a sudden drop in your credit rating means the cost will be a bit higher than expected. The overdraft charge is $14590, we’ve already debited that to your account and our legal dept is freezing all your assets until we can sort this out. If you have any questions please call me at 1-800-you’re SOL



Have a pleasant rest of your day.


Oh no. Dont let the poor guy crap … that’s a scary email [emoji85][emoji847]
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
cyber888 is offline   Reply With Quote
Old 10-18-2022, 03:02 AM   #38
Confused about dryer sheets
 
Join Date: Oct 2022
Location: Venice
Posts: 3
Brand New ER Member Here,
Great thread and numerous helpful posts. I have a 'similar problem. Helping my elderly mom who was going crazy with numerous low yield CD's juggling, my wife and I consolidated her numerous banks into 2.
I meant to invest in a 52-week auction beginning 11-1-22 and instead clicked on 11-29-22.
I didn't realize my mistake until hours after receiving her CONFIRMATION email. Is it too late to change this and not lose over a month of interest?
HelpingMom is offline   Reply With Quote
Old 10-18-2022, 01:07 PM   #39
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,309
Quote:
Originally Posted by MichealKnight View Post
Well, my Treasury account shows the extra $1 MM in treasuries.



Looks kinda neat actually.



Don't see any withdrawal from bank account. (Discover says they froze it)



OH!! I know what to do. Screenshot that TD page and use it to secure big fat loan!
__________________
...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 10-18-2022, 01:20 PM   #40
Administrator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,586
Quote:
Originally Posted by HelpingMom View Post
Brand New ER Member Here,
Great thread and numerous helpful posts. I have a 'similar problem. Helping my elderly mom who was going crazy with numerous low yield CD's juggling, my wife and I consolidated her numerous banks into 2.
I meant to invest in a 52-week auction beginning 11-1-22 and instead clicked on 11-29-22.
I didn't realize my mistake until hours after receiving her CONFIRMATION email. Is it too late to change this and not lose over a month of interest?
From the Treasury Direct Help Section, you can’t edit the order but you can delete it and submit a now one. https://www.treasurydirect.gov/indiv...help/how-do-i/
Quote:
Pending purchases and reinvestments include securities that have not been issued to the investor’s current holdings or gift box. Since pending purchases cannot be edited, they must be deleted, and new purchases scheduled. There are restrictions, however. Treasury marketable securities, for example, can only be deleted prior to the close of the auction. Savings bonds and Zero-Percent Certificates of Indebtedness can be deleted up to 11:59 p.m. Eastern Time, the day before issue. Instructions are provided below concerning how to delete pending purchases.

Log into your primary TreasuryDirect® account.

Click the ManageDirect tab at the top of the page.

Under the heading Manage My Securities, click "View/Delete a pending purchase/reinvestment".

On the Pending Transactions page, click "Submit".

You'll now see the Summary List page. Select the button beside the Confirmation number of the transaction you wish to cancel and click "Submit".

The Detail page will be displayed. Click "Delete" to cancel the planned transaction.

The Delete page will be shown. Click "Yes" to the question Are you sure you want to delete this transaction?

If this particular pending purchase is part of a repeat savings bond purchase schedule, you'll then see another page where you will be asked if you want to delete just this purchase or all of the remaining purchases for this repeat purchase schedule. Make sure the appropriate button is selected and click "Select".

The planned purchase transactions are now deleted.
MichaelB is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
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
Question re: buying treasury bills thru Treasury Direct lucky penny FIRE and Money 7 04-19-2022 04:39 AM
when are treasury bond etf's not treasury bond etf's ? mathjak107 FIRE and Money 1 07-20-2015 08:26 AM
Why Everyone Here Made a Mistake gerntz Life after FIRE 47 03-18-2012 02:39 PM
Wondering if I made a mistake by going back to school. Harlech Hi, I am... 8 07-22-2011 02:12 AM

» Quick Links

 
All times are GMT -6. The time now is 01:23 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.