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Joined Jan 2006
L5: Journeyman
> bubble2 574 Posts
46 Reputation
catman17
10-21-2023 at 07:03 AM.
10-21-2023 at 07:03 AM.
Quote from godwheel :
I just stick to CD ladders at these rates so I can take advantage of new rates if available every 3 months.

You'd be better off with T bill ladder. Why lock away cash for 10 months for 5.3% when T bills make that or more for shorter term PLUS you pay no state taxes!
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Joined Jan 2006
L5: Journeyman
> bubble2 574 Posts
46 Reputation
catman17
10-21-2023 at 07:04 AM.
10-21-2023 at 07:04 AM.
Quote from Mydiscover :
Good for you. LMAO

Humble brag much?
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Joined Jan 2006
L5: Journeyman
> bubble2 574 Posts
46 Reputation
catman17
10-21-2023 at 07:06 AM.
10-21-2023 at 07:06 AM.
Quote from max1001 :
Rate are not guaranteed to go up. Let's not pretend it's a sure thing. Also, we talking about .2 .3 percent difference here.

It's not guaranteed but it's exactly what they've been suggesting. Only 0.2 or 0.3%? That PLUS being exempt from state taxes makes T bills a better option. Plus that little bit extra % makes a difference if you have a large sum to invest.
1
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Joined Jan 2006
L5: Journeyman
> bubble2 574 Posts
46 Reputation
catman17
10-21-2023 at 07:10 AM.
10-21-2023 at 07:10 AM.
Quote from alfin :
Convenience. I can build my own ladder, or I can pay a very small premium to SGOV to do it for me. With the amount of money I've got in it ($XX,000), the amount I lose to fees is less than my time is worth.

We're talking $12/year for each $10,000 invested.

I'm using SGOV as well.
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Joined Sep 2004
L5: Journeyman
> bubble2 903 Posts
242 Reputation
DerpVader
10-21-2023 at 08:59 AM.
10-21-2023 at 08:59 AM.
Quote from mrclemson :
Millionaire is really nothing nowadays, and yes, many of them visit slickdeals
<- wishes he could raise his hand.
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Joined Jan 2008
L4: Apprentice
> bubble2 391 Posts
126 Reputation
mrclemson
10-21-2023 at 10:00 AM.
10-21-2023 at 10:00 AM.
Quote from DerpVader :
<- wishes he could raise his hand.
I am a multi-millionaire myself, so are most of my friends. Of course, age plays a role here, most of us are in early/mid-forties. I started to work in 2006, my wife 2007. According to Mint, our net asset exceeded $1M at the beginning of 2016.

The first million is always the hardest, it took us almost 10 years. The next million only took us three years. No, we didn't do cryptocurrency or win a lottery. In terms of investment, we mainly invest on index funds.
2
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Last edited by mrclemson October 21, 2023 at 10:04 AM.
Joined Apr 2014
L4: Apprentice
> bubble2 464 Posts
97 Reputation
ku2000
10-21-2023 at 12:44 PM.
10-21-2023 at 12:44 PM.
Quote from mrclemson :
Millionaire is really nothing nowadays, and yes, many of them visit slickdeals

These days millionaires are who earns a million a year.
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Joined Jan 2011
L6: Expert
> bubble2 1,965 Posts
409 Reputation
briank642
10-21-2023 at 04:41 PM.
10-21-2023 at 04:41 PM.
[QUOTE=mrclemson;166509415]
So you returned 100% via index funds in 3 years?
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Joined Aug 2011
L3: Novice
> bubble2 162 Posts
177 Reputation
dealdead
10-21-2023 at 04:43 PM.
10-21-2023 at 04:43 PM.
Quote from catman17 :
Chase gives you how much in savings interest? 0%? Capital One gives 4.3%! Look for the $350 Capital One bonus offer. I just did it. I like the interface so far. No issues. Forget Chase, they take your money and make a crap load on it and give you nothing!

What is the bonus offer?
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Joined Sep 2017
L5: Journeyman
> bubble2 566 Posts
178 Reputation
pranrasvij
10-21-2023 at 05:59 PM.
10-21-2023 at 05:59 PM.
[quote="briank642;166514218"]
Quote from mrclemson :


So you returned 100% via index funds in 3 years?
obviously include more savings and compounding effects. still 3 is v fast, it was 5 for me due to covid bump
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Joined Sep 2003
L7: Teacher
> bubble2 2,119 Posts
923 Reputation
sangleweb
10-21-2023 at 06:35 PM.
10-21-2023 at 06:35 PM.
Question for experts, t-bill is around 5% every 3/months so if I buy 100k, I would receive 5k every 3 months if I kept it & I don't have to pay tax?
NVM, that's not how it works. You buy it at the discount rate & sale it at maturity date. My question is why the longer t-bill have lower rate.
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Last edited by sangleweb October 21, 2023 at 07:06 PM.
Joined Jan 2015
L2: Beginner
> bubble2 53 Posts
34 Reputation
gimp32
10-21-2023 at 06:42 PM.
10-21-2023 at 06:42 PM.
Want brokerages do you recommend for T-bills ?
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Joined Jan 2007
L10: Grand Master
> bubble2 28,289 Posts
2,718 Reputation
cgigate
10-21-2023 at 11:02 PM.
10-21-2023 at 11:02 PM.
Quote from lukem5 :
if banks are offering this much for a CD, they must know stocks ae going thru the roof.

When interest rate increases, the stock normally goes down...
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Joined Jan 2007
L10: Grand Master
> bubble2 28,289 Posts
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cgigate
10-21-2023 at 11:05 PM.
10-21-2023 at 11:05 PM.
UFB saving account interest rate is 5.25% could be better
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Joined Feb 2008
L6: Expert
> bubble2 1,038 Posts
92 Reputation
milestoempty
10-22-2023 at 04:41 AM.
10-22-2023 at 04:41 AM.
I just moved our assets to ML Preferred Depoit which is 5.02. Guess I'll keep moving the money around. Lots of work for around $500 a month lol
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