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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 Jul 2006
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#61
Quote from mjzglr
:
For those thinking about YouInvest ... the problem with parking the money there is taxes on the other end. I have gains, but don't want to cash out and moving isn't free either. When you're stuck, you're stuck.
1. What do you mean by taxes on the other end? If you have securities, you can do a securities transfer.

2. Moving isn't free but it can't be anywhere close to $2k!
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#62
Quote from Diz
:
I meant to write this same exact thing. Every day grinders with 250k most certainly care about 2k...and that's why they're also on SD.
Small things add up. But bad decisions cost you a lot more in lost opportunity. When you can invest 250k and get a lot more than 2k, why bother. Only way you do this deal is if you invest and get the 2k as an additional gravy.

I am pretty sure somebody will throw an annualized interest rate for this deal with FDICinsurance. Yawn - yup really good but go match that to 10%+ compounded returns invested in almost any decent etf.
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Joined Nov 2017
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#63
Quote from Smalldog
:
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.
The You-vest is still work in progress, not primetime. I setup my account as cash dividend and their booking system reinvested all my dividends at some crazy high prices, now my cost basis is off and I have $hit load of fractional shares I have to sell at loss.
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#64
Quote from PrincipalMember
:
Small things add up. But bad decisions cost you a lot more in lost opportunity. When you can invest 250k and get a lot more than 2k, why bother. Only way you do this deal is if you invest and get the 2k as an additional gravy.

I am pretty sure somebody will throw an annualized interest rate for this deal with FDICinsurance. Yawn - yup really good but go match that to 10%+ compounded returns invested in almost any decent etf.
Not everyone is out seeking bigger opportunities. I'm perfectly content with where I'm at financially and my goal is simple - wealth preservation. I have plenty of cash in my retirement funds and the stock market, much of which is ETF based. I've cashed out of a real estate investment, don't have the desire to put it back into RE right now, and am looking at low-risk alternatives for a lump sum of cash - which still make it near immediately liquid if/when an opportunity presents itself. I don't consider ETFs to exactly be low-risk compared to other options out there...and like I said, I already have a significant position in them as-is.
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Last edited by Diz September 30, 2020 at 08:07 AM.
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#65
Id suggest not 100% cash. Investment account will work.

People have dangerous fallacy here. ETF always goes up? No downside risk?
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Last edited by hanabie September 30, 2020 at 08:01 AM.
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#66
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.
50% tax. You must live in CA.
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#67
Quote from hanabie
:

People have dangerous fallacy here. ETF always goes up? No downside risk?
There is always a downside risk. You have to make decisions based on your need for the money. If you don't need the money for 5+ years, ETF would probably be fine but not guaranteed. You need the money in the less than 5, think about what you are doing and what kind of risks are you taking. Obviously, one can do dig up example of the Japanese market to say - "hey it didn't work in Japan!".

The choice to make is - stay with sucki 3% for the next 5 years or hope for something better with a few diversified ETF's? I would take the latter anyday. And if somebody is concerned about too much risk, there are risk tradeoffs that can be done that reduce the risk while getting better than 3% (note: I am saying reduced risk and not zero risk).

The other problem is that if somebody has not been investing, it is very hard to just go put 250K in the market. As per Murphy's law, as soon as you do it, the market will correct and make you regret the decision. So do the investment gradually and spread things over time. I never have 250K sitting as cash for more than a month - I always find something to invest on a pullback of one or the other thing.
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#68
Quote from robertw477
:
50% tax. You must live in CA.
And must be earning a lot of money. That takes the sting out of the CA taxes :-)
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#69
Quote from DealDonkey
:
I think people with 250k care about 2k and thats why they have 250k
Yep, got a $4k item around the house and this would cover half of it.
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#70
Quote from DealDonkey
:
I think people with 250k care about 2k and thats why they have 250k
words of wisdom. Applause
Wave i'm thinkig of moving securities from merill to youvest? is that qualified for 2k bonus?
also there is another promo of $625 bonus for opening youinvest account - 'Enjoy Up To $625 and Invest'. hopefully both stack?
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Last edited by waterfront September 30, 2020 at 10:48 PM.
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#71
Quote from robwok
:
IRA is included. So, if you leave a job, and need to park your 401k somewhere, you can roll into an IRA, next job, you can keep it there, or roll into the new job's 401k so you can keep track of it all.
False read the terms
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#72
Can I get in on this without meeting them in person? I don't mind a phone call.
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#73
Quote from waterfront
:
words of wisdom. Applause
Wave i'm thinkig of moving securities from merill to youvest? is that qualified for 2k bonus?
also there is another promo of $625 bonus for opening youinvest account - 'Enjoy Up To $625 and Invest'. hopefully both stack?
does youvest also give 2k for investing with them?
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#74
Why is everyone talking about You invest , that wouldn't trigger the promotion. We can open what is called a FULL-SERVICE brokerage account (not You-invest and not the active managed brokerage account). The FULL SERVICE brokerage account doesn't have an annual fee but not listed in Chase website, you will need to talk to a financial advisor and open a "FULL-SERVICE brokerage account" via their securities team after converting your Chase account over to Chase Private Client. The full-service brokerage account basically entails that you need to call your local account manager or a special 1-800 number each time you want to execute a trade. Commissions/trades are free and without fees for private client accounts. You can't execute a trade via online with a full-service brokerage account, it will have to be over the phone.

In order to do this, it also sounds like we need to go into the branch and meet with the financial advisor in person. This bonus sounds great as long as we can invest while the money sits in Chase.
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Last edited by bikerbandito October 13, 2020 at 10:14 AM.

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#75
So I can just drop 150k in cash there? That's it? No other stipulations? Just let it sit for 3 months? No direct deposit BS? Just a bank transfer?
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