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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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This comment has been rated as unhelpful by Slickdeals users
Joined Jun 2007
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#31
It's pretty clear, bring and maintain $250K for the $2K promo. Not considering the promo, you only need to maintain $150K.
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Joined Jun 2007
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#32
Quote from HolyAz
:
oh just 150k balance? chump change 🤨
Yeah, trump change. I have only $750 at most.
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Joined Feb 2007
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#33
Quote from doboy007
:
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.
I don't have much faith in the FDIC and I'm certainly not going to risk it for 0% interest. Unless you're one that is willing to go meet your banker, go through the hassle to transfer the funds, and then close the account and withdraw it all on the 91st day, I don't see any benefit.
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Joined Jan 2008
L4: Apprentice
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#34
Quote from doboy007
:
Certainly not in AZ Smilie
Such an insightful reply. Care to elaborate? I mean...it's not like there are tens of thousands of people transplanting here per month or anything.
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Joined Apr 2018
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#35
Watch out for the fine print. I don't believe any YouInvest (self-directed brokerage) or any IRAs are included. So basically only the accounts they service that are opened in a branch -- this is from the terms and conditions from the offer page linked above.

Accounts that qualify for your new money deposit
  • Personal Checking and Savings accounts
  • Eligible J.P. Morgan investment accounts (opened in a Chase branch and serviced by a J.P Morgan Private Client Advisor or Financial Advisor)
Accounts that do not qualify for your new money deposit
  • Business Checking and Savings accounts
  • Any You InvestSM accounts
  • Any J.P. Morgan retirement accounts (such as Traditional and Roth IRAs, Keoghs, SEP and SIMPLE IRAs, and 401(k) plans)
  • CDs
  • Insurance products
  • Fixed and variable annuities
  • J.P. Morgan Fund Accounts
  • 529 College Savings Plans
  • Attorney trust accounts
  • Client fund trust accounts
  • Government or Non-Profit accounts
FWIW, Chase is my primary bank (and has been for 25 years), and they seem to do everything they possibly can to make me run away. They never follow-up on my questions, and most of the time I ask them to do something for me (nothing out of the bounds), they have their hand out looking for new money. I've heard 3 pitches about Private Client already, and just don't see what it offers (I am Sapphire, which gives me free non-chase ATMs, free outgoing wires, free safe deposit box, and just about anything else I need -- I get this by having $75k in a YouInvest account, which is a free brokerage account that I hold a few ETFs and stocks in).

The only reason I stayed last year is that they rolled out Sapphire, as I was in the process of moving things over to BOA. For $100k in a Merrill Edge account, I get just about every feature of Sapphire, and I get 75% extra credit card rewards (my card gives 1.50% on everything, 2% on restaurants/travel PRE-MULTIPLIER, so it's 2.625% on everything, and 3.50% on restaurants/travel). The next time Chase #*@$& me off, I am going going to go all-in with BOA, since the few times I called them, they gave me more than I asked for voluntarily (compared to Chase who keeps asking for more money).
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Joined Jan 2008
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#36
Quote from SlickCrowd6832
:
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.
I'm done with rentals. I've had more than my share, they've served their purpose, and I'm settling into my forever home (paid off) in a mountain town of AZ that hasn't been ruined by transplants...yet. Just looking for ideas from others on safer low-risk havens for large amounts of cash.
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Last edited by Diz September 28, 2020 at 04:51 PM.
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Joined Jan 2009
BRRR...BRRRR....
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#37
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.
What led you to sell off your rental? Was it because not desirable cash flow each month or headache dealing with tenants? I'm curious... Wave
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Joined Aug 2007
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#38
Quote from mjzglr
:
Yeah. This isn't worth it. I have money parked in YouInvest with the Sapphire Banking and it is similar. The services are trash relative to other brokerages, or interest rates ... I mean you get free wires, zero international ATM and FT fees ... but the overall value isn't there relative to the opportunity cost of parking a large sum. I planned on keeping them to make international traveling more convenient.

I plan on moving my money at some point when I want to cash out my position and then closing the accounts.

Assuming you have $250K you should expect some real value. Decent trading tools. Access to different assets. Something. But you get a few fee waivers worth nominally a hundred bucks at most a year.
I second this. YouInvest or whatever garbage it's called has less features than the free investing sites. The investing "live call" when covid started was nothing more than two 20 year olds with obviously zero experience telling everyone not to worry.
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#39
Quote from Diz
:
Such an insightful reply. Care to elaborate? I mean...it's not like there are tens of thousands of people transplanting here per month or anything.
Noticed you're from AZ so just making fun. Plus, don't really care for AZ much. Only reason people are moving there is for cheaper living, not cause people enjoy living there Wink
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Last edited by doboy007 September 28, 2020 at 05:09 PM.
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#40
Quote from mango316
:
What led you to sell off your rental? Was it because not desirable cash flow each month or headache dealing with tenants? I'm curious... Wave
Numerous reasons, cashflow not being one of them as the mortgage has been paid off since 2015 and there were no issues with the tenants in the least:

* It's a 31 yr old home (old relative to the area) that's now outdated on the interior by 10 yrs and on the verge of multiple significant major system breakdowns
* The market is illogically and insanely hot and many issues that would otherwise be called out/the reason for deals to take longer/not come to fruition were not an issue (I'm also a licensed real estate agent)
* The same tenants were in place for the past 4 yrs and chose to downsize (although, I would not have offered to renew their lease anyway)
* I managed it myself and moved ~2 hrs away from its location since I can work from home for infinity at my "every day" job compliments of COVID
* Property managers are trash in general and having a new set of random people inhabiting it are no longer a desire of mine...especially with all of the forbearance/rent forgiveness BS going on

Bottom line, it was time to cash out and enjoy life. I'm 43, don't need that level of income compared to the potential headaches, and will be living simpler from here on out. It just really sucks that there are very few options for a return on a bankroll at this time.
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Last edited by Diz September 28, 2020 at 05:23 PM.
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Joined Jan 2008
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#41
Quote from doboy007
:
Noticed you're from AZ so just making fun. Plus, don't really care for AZ much. Only reason people are moving there is for cheaper living, not cause people enjoy living there Wink
Gotcha. I can totally see that when it comes to the inferno...err, the valley, which is why I've just left there after enjoying it for 14+ yrs, but that definitely doesn't hold true for the northern country, IMHO. And it certainly won't be cheaper living for much longer if the trend continues.
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Joined Jan 2009
BRRR...BRRRR....
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#42
Quote from Diz
:
Numerous reasons, cashflow not being one of them as the mortgage has been paid off since 2015 and there were no issues with the tenants in the least:

* It's a 31 yr old home (old relative to the area) that's now outdated on the interior by 10 yrs and on the verge of multiple significant major system breakdowns
* The market is illogically and insanely hot and many issues that would otherwise be called out/the reason for deals to take longer/not come to fruition were not an issue (I'm also a licensed real estate agent)
* The same tenants were in place for the past 4 yrs and chose to downsize (although, I would not have offered to renew their lease anyway)
* I managed it myself and moved ~2 hrs away from its location since I can work from home for infinity at my "every day" job compliments of COVID
* Property managers are trash in general and having a new set of random people inhabiting it are no longer a desire of mine...especially with all of the forbearance/rent forgiveness BS going on

Bottom line, it was time to cash out and enjoy life. I'm 43, don't need that level of income compared to the potential headaches, and will be living simpler from here on out. It just really sucks that there are very few options for a return on a bankroll at this time.
Ahh I see, thanks for the explanations. Smilie
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#43
Quote from Diz
:
I'm done with rentals. I've had more than my share, they've served their purpose, and I'm settling into my forever home (paid off) in a mountain town of AZ that hasn't been ruined by transplants...yet. Just looking for ideas from others on safer low-risk havens for large amounts of cash.
I like DNP, it currently pays a 7-8% yearly dividend... I have some. But I would not invest until after the election. A good time to invest is when it's below $9.00 per share. Stock is close to $10.00 per share, been between $8 - $12 over the last 35 years paying 6.5 cents per share, never missing a month and the amount has never changed.

And I like robinhood.
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Last edited by SlickCrowd6832 September 28, 2020 at 06:42 PM.
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#44
Quote from mango316
:
What led you to sell off your rental? Was it because not desirable cash flow each month or headache dealing with tenants? I'm curious... Wave
My 8 rentals bring in more then my yearly salary... Real estate has been the best thing I have ever done as an advestment..... We have been putting ever extra penny towards the mortgages... Now on my last one.

But I did have a $12k in unexpected expenses last month. When it's good it's good and when it's bad.... You know.
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Joined May 2007
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#45
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 had a promo last year at the first of the year for the Sapphire Reserved checking. Deposit 75k for 90 Days and get 1k bonus. There was another recent promo with Citi (I think) for maybe 500 on 50k or something similarl
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