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Upgrade to Chase Private Client get $2000 --- $250k currently required $150k balance req YMMV

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https://account.chase.com/consume...vateclient

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Total required is $150k in all accounts (IRA, Brokerage, Checking, CDs, Trusts, etc)

Keep accounts for 90 days, get $2000.


Updating to $150k new money (not $250k) as YMMV until terms are updated, verify with your local banker.
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Created 09-28-2020 at 10:48 AM by Phaenon
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Joined Nov 2010
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#16
Wheres people parking their excess cash nowadays?
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#17
Quote from apang
:
Wheres people parking their excess cash nowadays?
What's excess cash?

Also, slick deals.
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Joined Jul 2006
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#18
Quote from craigg
:
Another too big to fail bank that's still buried in derivatives and bad loans offering $2000 to park your $250k in a zero interest account. This sounds like a suckers bet to me.
From what I read, you can have an investment account.
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#19
Where are people parking their money? I just sold my last rental property and am laying back in the weeds for a bit on the real estate front. I have no debt, all retirement accounts/contributions in place, stock market balance at my current comfort level, various one-off investments on-going, all kinds of new bank accounts/fresh bonuses opened, with a surplus of new funds from the rental sale sitting in quickly dwindling "high interest" online savings accounts as of last week. It's a nice "problem" to have, but I thought I'd solicit for some ideas on here.
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Joined Nov 2006
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#20
Quote from apang
:
Wheres people parking their excess cash nowadays?

Precious metals and food. Food shortages are coming. Already rationing in some countries.
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Joined Mar 2008
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#21
Quote from Phaenon
:
your local banker can verify. my banker said not to worry they are dropping minimums to 150k to private client and all promos are being updated to 150k.
Interesting--however, sounds like we'd have to accept the terms for the offer once it's dropped down to 150 otherwise we might technically be locked in at 250k if we start now.

At 150, I don't need to pull some funds out from YouInvest first, but if 250, then I need to take some out, wait about a month for their lookback period, and then bring it back.
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#22
Yeah, unless they update the website to 150k, I wouldn't sign up for this thinking 250k requirement doesn't apply to me.
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#23
Quote from outie
:
If you have a spare new 250k to move to Chase for $2000, you'll likely end up with $1000 after tax. Yes Chase will send you the 1099.
That's the sucky part. Already paying enough money to Uncle Sam.
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Last edited by doboy007 September 28, 2020 at 02:39 PM.
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#24
Quote from craigg
:
Another too big to fail bank that's still buried in derivatives and bad loans offering $2000 to park your $250k in a zero interest account. This sounds like a suckers bet to me.
Why when FDIC insurance requirement is $250k? You can do a joint to get 2x the coverage. Unless you're thinking that they won't pay.
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Last edited by doboy007 September 28, 2020 at 02:39 PM.
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Joined Apr 2007
I prefer "frugal"
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#25
Quote from Diz
:
Where are people parking their money? I just sold my last rental property and am laying back in the weeds for a bit on the real estate front. I have no debt, all retirement accounts/contributions in place, stock market balance at my current comfort level, various one-off investments on-going, all kinds of new bank accounts/fresh bonuses opened, with a surplus of new funds from the rental sale sitting in quickly dwindling "high interest" online savings accounts as of last week. It's a nice "problem" to have, but I thought I'd solicit for some ideas on here.
Quote from LookinForSD
:
Precious metals and food. Food shortages are coming. Already rationing in some countries.
Toilet paper and inverse ETFs
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#26
Quote from Diz
:
Where are people parking their money?
Certainly not in AZ Smilie
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#27
Hey you can pick a Darth Vader debit card with Private Client. That's got to be worth something?
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#28
Quote from Diz
:
Where are people parking their money? I just sold my last rental property and am laying back in the weeds for a bit on the real estate front. I have no debt, all retirement accounts/contributions in place, stock market balance at my current comfort level, various one-off investments on-going, all kinds of new bank accounts/fresh bonuses opened, with a surplus of new funds from the rental sale sitting in quickly dwindling "high interest" online savings accounts as of last week. It's a nice "problem" to have, but I thought I'd solicit for some ideas on here.
I would love to buy a rental property... but I cannot justify it right now with such high prices. I have 8 properties that I rent out all paid for... but I have close to zero in the bank. Right now I am working hard to pay off my primary mortgage.... about 5 months left.

And then....

My plan from about 6 months ago was to do cash out refinance from my principle residence and purchase a rental property for cash... thinking their will be many foreclosures with prices heading north (hoping for a 20% drop in home value)... but I don't know if we will see this happen so soon.

Prices are so crazy HIGH!!!! At the same time I don't dare sell any of my properties because I am in love with my cash flow. I figure when I retire, I could sell a property every two years.


But I see two choices.... 1. Real Estate or 2. Stock Market. I have done really good at both. But my stock market money is in Roth IRA, IRA and 401K.
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#29
Chase Private Client has some decent perks. I was able to get in because my folks have money with them, so they told me to have my mom create a joint account with me, then all of my accounts turned into CPC accounts.

Their investment services suck ass though. I had them managing my 401k that I rolled over into an IRA with them, and they didn't do anything. And of course the only time I would get an e-mail from the banker was when the market would shit badly. Their You-Invest product sucks compared with places like Robinhood or TD Ameritrade because they do not offer pre-market or extended hours trading. They also screw you on limit orders. I suspect they buy or sell at better prices, and give you what your limit order is for. I've seen quite a few times where I had limit orders, and watching level II data, I can see that my orders have executed at better prices than what they give me credit for.

I don't use them for anything now other than a checking account.
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#30
Quote from Smalldog
:
Chase Private Client has some decent perks. I was able to get in because my folks have money with them, so they told me to have my mom create a joint account with me, then all of my accounts turned into CPC accounts.

Their investment services suck ass though. I had them managing my 401k that I rolled over into an IRA with them, and they didn't do anything. And of course the only time I would get an e-mail from the banker was when the market would shit badly. Their You-Invest product sucks compared with places like Robinhood or TD Ameritrade because they do not offer pre-market or extended hours trading. They also screw you on limit orders. I suspect they buy or sell at better prices, and give you what your limit order is for. I've seen quite a few times where I had limit orders, and watching level II data, I can see that my orders have executed at better prices than what they give me credit for.

I don't use them for anything now other than a checking account.
I am not sure if I will take advantage of this offer - but if I do, I will transfer some securities that I don't plan to sell (due to taxes that I would have to pay). So all the disadvantages of the brokerage will disappear.
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