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Joined Dec 2012
L5: Journeyman
> bubble2 525 Posts
46 Reputation
GregF8967
10-22-2023 at 05:09 AM.
10-22-2023 at 05:09 AM.
Quote from catman17 :
I'm using SGOV as well.
That looks interesting. Are T rates a little lower than doing it yourself? And is this exempt from State/Local taxes?
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Joined May 2019
L2: Beginner
> bubble2 74 Posts
38 Reputation
stevenB1978
10-22-2023 at 07:56 AM.
10-22-2023 at 07:56 AM.
Quote from TurtlePerson2 :
Treasury bills are a better investment than this. T-bills are paying a higher interest rate than this, so it's an easy decision. If you live in a state or city with income tax, then T-bills are a much better deal. There's lots of resources online about this and I would encourage you to do some research on your own rather than using this forum to make investment decisions. The fact that these not-good CD deals keep hitting the frontpage tells me that SD users don't understand investing.
Could you recommend me one, im in Florida and in process of selling a house. Im going to need somewhere to put over 200k pretty soon.
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Joined Sep 2023
New User
> bubble2 7 Posts
10 Reputation
SlickRaccoon4183
10-22-2023 at 03:02 PM.
10-22-2023 at 03:02 PM.
These "you can get 0.5% more if you make a new account to keep track of in this no-name bank!" or "open a Fidelity account for T-Bills" are appreciated, but kind of annoying in excess. I don't think theres anything wrong with parking cash in OP's CDs
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Joined Dec 2007
L8: Grand Teacher
> bubble2 3,524 Posts
592 Reputation
iahawks550
10-23-2023 at 04:28 AM.
10-23-2023 at 04:28 AM.
Quote from spooky187 :
I think you are missing the part about rates are changing fast now. So, locking in that long you can lose out on an increase with a long lock in rate. Plus the tax benefits.
I'm not missing that part at all. As a retiree, I'm not necessarily chasing the highest rates, month to month. If I can lock in a guaranteed 5% for five years (or whatever term), I'll gladly forgo some 6% rates at the risk of the rates changing to 2% in two years.

Some people, at certain ages, are looking at guaranteed income generating investments. For most, who are 10+ years away from retiring, I agree with your assessment.

The tax benefit may or may not apply to people.
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Joined Jan 2011
L6: Expert
> bubble2 1,965 Posts
409 Reputation
briank642
10-23-2023 at 09:26 AM.
10-23-2023 at 09:26 AM.
Quote from mrclemson :
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.
Quote from pranrasvij :
obviously include more savings and compounding effects. still 3 is v fast, it was 5 for me due to covid bump
But what about the 2022 Dip? Turning $1mm into $2mm in 3 years feels like what a hedge fund manager strives to do, not your average Joe investing in the S&P 500 Index Fund.
1
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Joined Aug 2020
L2: Beginner
> bubble2 58 Posts
27 Reputation
ShrewdCreature8771
10-23-2023 at 01:21 PM.
10-23-2023 at 01:21 PM.
5.5 is available through the Schwab CD finder, or even better yet a 5.7 but it's callable half way through the 1 year term
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Joined Oct 2008
L7: Teacher
> bubble2 2,194 Posts
100 Reputation
flightxxx
10-23-2023 at 01:23 PM.
10-23-2023 at 01:23 PM.
any banks giving a 6%+ savings rate right now?
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Joined Jan 2008
L4: Apprentice
> bubble2 391 Posts
126 Reputation
mrclemson
10-23-2023 at 07:48 PM.
10-23-2023 at 07:48 PM.
Quote from briank642 :
But what about the 2022 Dip? Turning $1mm into $2mm in 3 years feels like what a hedge fund manager strives to do, not your average Joe investing in the S&P 500 Index Fund.
Much actually came from income. The first million includes housing, which doesn't appreciate on average as quickly as the stock market, so you can imagine our income played a very important role. We hit $3M in June 2021, and a year later, it went back to $2.9M which was the lowest point after we hit $3M for the first time. Through income and stock performance, we are close to $4M in net asset now.
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Joined Sep 2011
L6: Expert
> bubble2 1,335 Posts
198 Reputation
Xoblaim
10-25-2023 at 07:03 PM.
10-25-2023 at 07:03 PM.
Quote from WuyiL :
30yr fixed mortgage rates is already over 8%, no thanks CapitalOne.

Stupid time to buy, blame the federal reserve for raising interest rates so God dam high
1
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Joined Feb 2017
L3: Novice
> bubble2 198 Posts
18 Reputation
timurnot
10-26-2023 at 06:15 AM.
10-26-2023 at 06:15 AM.
Quote from rhkanmt :
6.25% at Trulient for an 11 month CD

https://www.truliantfcu.org/landi...te-special

FDIC not insured looks like
1
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Joined Dec 2007
L8: Grand Teacher
> bubble2 3,524 Posts
592 Reputation
iahawks550
10-26-2023 at 06:23 AM.
10-26-2023 at 06:23 AM.
Quote from timurnot :
FDIC not insured looks like
No credit Unions are FDIC insured. They still have the same protection.
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Joined Jul 2010
L6: Expert
> bubble2 1,174 Posts
218 Reputation
Shqype
10-26-2023 at 06:52 AM.
10-26-2023 at 06:52 AM.
Quote from TurtlePerson2 :
Not a deal! Treasuries are paying more than this for any duration between 1 month and 1 year. Treasuries also aren't subject to state and local tax. Treasuries also can be traded on the secondary market.

Answering three inevitable questions:
Buy treasuries at any brokerage (e.g. Fidelity, Schwab, etc.).
Don't use TreasuryDirect. It's a clumsy platform and offers no advantages over a broker like Fidelity that charges nothing for buying/selling treasuries.

How does one get started with buying treasuries outside Treasury Direct without a fee? New to this and would like to get set up. Thank you.
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Joined Mar 2023
L2: Beginner
> bubble2 69 Posts
14 Reputation
letter2ba
10-26-2023 at 04:57 PM.
10-26-2023 at 04:57 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!
No one's dumb enough to sit their money in Chase. You use their checking acct for easily accessible ATM's and brick n mortars and transfer any extra money to a HYSA. All it takes is a click of a button.
1
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Joined Oct 2008
L7: Teacher
> bubble2 2,369 Posts
65 Reputation
NoSleep007
10-29-2023 at 06:47 AM.
10-29-2023 at 06:47 AM.
Capital one has good CD rates for a larger bank, of course there others with better rates with smaller banks.
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Joined Oct 2018
L3: Novice
> bubble2 143 Posts
18 Reputation
PatrickR8354
10-29-2023 at 12:11 PM.
10-29-2023 at 12:11 PM.
Quote from isaaciaggard :
yes, all these millionaires are here looking at SLICKDEALS…

Just owning a run down entry level home makes you a millionaire these days in California
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