Author Topic: High Yield Savings  (Read 18761 times)

mrwhizzard

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Re: High Yield Savings
« Reply #15 on: August 10, 2017, 12:00:10 PM »
Weird also is Ally's 11 month CD @1.5% APY with NO early withdrawal penalty.

I did some of those. Except for my own snafu no hassles. Probably made easier as I deposited the cash into a savings account there first (1.15% APY), then used it to fund the 1.5% 11 month CD's.

Yep, I have also opened a few of these. Also painless for me (about 3 minutes to click through the steps), since I too have other accounts there.

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My snafu was that I bought 9 CD's and violated the maximum of 6 transfers in a statement period for my savings account. The extra 3 cost me $10 each. My bad.

So if you open several accounts at once, and fund them all from the same source, they still make individual withdrawal transactions? I was wondering about that, and I'm glad you found out for me.  :)

Rob L

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Re: High Yield Savings
« Reply #16 on: August 10, 2017, 12:16:56 PM »
non-IRA.  And sadly I fall in all the exceptions to where I am pretty much SOL on IRAs and have no work retirement account.

Bummer, but at least what you have is yours and unencumbered with governmental oversight.

jennrod12

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Re: High Yield Savings
« Reply #17 on: August 12, 2017, 11:46:30 PM »
Anyone else here buy I-bonds?  You can only invest $10k each year now, but my husband and I each buy them and it adds up after a while.  The base rate is low or nonexistent now, but they typically pay in the 2-3% range per year, and will go up if interest rates go up.

Jenn

Rob L

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Re: High Yield Savings
« Reply #18 on: November 05, 2017, 03:39:02 PM »
Stumbled across another interesting website/blog with all manner of savings tidbits:
http://www.hustlermoneyblog.com/
Anyone found this to be a use resource?

lascott

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Re: High Yield Savings
« Reply #19 on: November 06, 2017, 11:18:39 AM »
Anyone else here buy I-bonds?  You can only invest $10k each year now, but my husband and I each buy them and it adds up after a while.  The base rate is low or nonexistent now, but they typically pay in the 2-3% range per year, and will go up if interest rates go up. Jenn
Curious about your strategy in that are you planning on keeping them 5, 10, 20, 30 years i.e. getting out early?
https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds.htm
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How do I Bonds earn interest?
Interest on an I Bond rates is a combination of two rates:
1) A fixed rate of return which remains the same throughout the life of the I Bond and
2) A variable inflation rate which we calculate twice a year, based on changes in the nonseasonally adjusted Consumer Price Index for all Urban Consumers (CPI-U) for all items, including food and energy (CPI-U for March compared with the CPI-U for September of the same year, and then CPI-U for September compared with the CPI-U for March of the following year).
Interest is earned on the bond every month. (However, values displayed by the Savings Bond Calculator for bonds that are less than 5 years old do not include the latest 3 months of interest. These values reflect the interest penalty.)

The interest is compounded semiannually:  Every six months, on the 6th and 12th month anniversaries of the issue date,  all interest the bond has earned in previous months is in the bond's new principal value on which interest is earned for the next 6 months.
Tools I use: (main) BlueVestment: https://www.bluevestment.com/app/pricing + https://www.interestradar.com/ , (others) Lending Robot referral link: https://www.lendingrobot.com/ref/scott473/  & Peercube referral code: DFVA9Y

SLCPaladin

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Re: High Yield Savings
« Reply #20 on: November 08, 2017, 07:14:54 PM »
Anyone else here buy I-bonds?  You can only invest $10k each year now, but my husband and I each buy them and it adds up after a while.  The base rate is low or nonexistent now, but they typically pay in the 2-3% range per year, and will go up if interest rates go up.

Jenn

I've bought tons of iBonds in the past, but when they fixed component was actually worth something. The ones in my portfolio now have been some of my best long term and safest performers, getting about 5.5% return, risk free. I'm a huge fan of iBonds, but right now the fixed portion has not been very attractive.

jennrod12

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Re: High Yield Savings
« Reply #21 on: November 08, 2017, 08:34:23 PM »
lascott,

Planning on keeping them a minimum of 5 years probably 30.  We like the risk free part. :D

Jenn

AnilG

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Re: High Yield Savings
« Reply #22 on: November 11, 2017, 08:00:39 AM »
I am with jenrod12 and SLCPaladin on I-series bonds. We have been buying them for over a decade. Every year we buy maximum allowable amount of I-series bonds. With fixed rate now at 0.10% since Nov 1st, they have become more attractive. I like the relatively risk free, inflation+ return, and tax deferred return part of I-series bonds. I plan to keep them as long as possible. I may consider rolling over I-series bonds with 0% fixed rate to the newer I-series bonds if the fixed rate portion continue to rise.
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Anil Gupta
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