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After putting money into my 401(k) and IRA and keeping some liquid in my checking account, I've been putting leftover cash in a Capital One savings account at 1%. I don't really have a goal for it (dipped into it for the first time in like 7 years to pay off a new car) and have built up quite a bit over the years. Is there any reason I shouldn't move that over to a Money Market account for the additional APR (Capital One currently offers 2%)? I feel like it will just sit there until I decide I want to put down roots and buy a house or if I have an emergency (like suddenly needing a new car). I just to be able to access it on relatively short notice and not think about it otherwise.
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Apr 7, 2019 01:26
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Why do that when savings accounts are offering 2.x?
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Apr 7, 2019 13:25
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My Ally savings gives me 2.25 and transfers back to checking account are available the next business day.
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Apr 7, 2019 14:10
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KYOON GRIFFEY JR posted:Why do that when savings accounts are offering 2.x? Rolo posted:My Ally savings gives me 2.25 and transfers back to checking account are available the next business day. Huh, wow. Last time I looked at Ally, they were mostly in line with Capital One.
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Apr 7, 2019 14:50
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Uthor posted:Huh, wow. Last time I looked at Ally, they were mostly in line with Capital One. Capital One's money market savings account is still at 2.0% APY. They've fallen a bit behind the market, but not too far off. Not enough for an existing customer like me to move it, but I can see why someone looking for a new account would choose Ally.
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Apr 7, 2019 15:53
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I've been usin Ally for years now, never had a complaint about em, savings is a good rate and they increase it periodically, and they reimburse like five or six checking account atm fees a month at the end of the statement period so you don't even have to really give a poo poo about finding a no-fee atm. savings rate is 2.2% apy atm.
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Apr 7, 2019 17:41
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CapOne 360 has its own ATMs that accept cash if that is something that concerns you at all. I opened that account because I don’t have a checking account with any of the brick and mortar banks which has complicated my life somewhat every now and then.
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Apr 7, 2019 23:26
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I think my last post in this thread was about weighing whether or not to pay balance transfer fees to get a little breathing room while I work out my financial situation. I have since gone through with the balance transfers, having until mid-2020 to pay them off and now take home around 5k a month. Although I'm a 1099 employee so that sucks. I've got $5,500 sitting in my account that I could transfer over to my IRA for 2018. Should I do that? Retirement is important, of course, but I want to eventually get the cards paid off and buy a place in the next couple years. Does it make sense to leave open the option of just taking that money back out? I can always make more money and not decide to, but I have until Monday to contribute. I'd probably just put it in fixed income for now, so if there's a big correction I won't lose out, despite not earning as much.
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Apr 9, 2019 13:49
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Simpsons Reference posted:I think my last post in this thread was about weighing whether or not to pay balance transfer fees to get a little breathing room while I work out my financial situation. Also don't pick your asset allocation based on perceived market movement. That's literally market timing. Assign your asset allocation and stick to it.
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Apr 9, 2019 14:21
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Hi guys, first time posting in here so I figured I'd stop by the newbie thread. My partner and I are starting to think about our retirements and futures, and are wondering about investing in something to help with that. I'm a self-employed musician, I make around £1000 a month (sometimes more, sometimes less), and I currently have just under £1000 in my savings (although I'm heading out to buy a replacement guitar today). My partner is full time in the hospitality industry and makes around £1500 a month, depending on tips. Our combined outgoings are ca. £500/m for rent, and around £350 including gas, electricity, council tax, phone and internet bills, various expenditures like Netflix and Spotify, and trade union membership. Neither of us has any debt. We both have poo poo credit scores as a result of having been students, living in shared rentals with flatmates who didn't pay on time, but we've got poo poo credit cards that we're using bit by bit to build that back up. But yeah, not really sure where to start in terms of investment. We were looking at buying Brewdog shares this morning, apparently they're away to launch a line of new beers so that might be a shout. I'm going to check out the long term savings and investment thread but I figured I might as well introduce myself here as well.
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Apr 10, 2019 10:59
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Coohoolin posted:We were looking at buying Brewdog shares this morning, apparently they're away to launch a line of new beers so that might be a shout. promise me you will read at least the entire OP of the investing thread before you invest a single pound in anything
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Apr 10, 2019 14:14
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I keep threatening myself to write a UK specific OP/thread and never get round to it... Brewdog were a great gamble when they went through their first offering, but the institutional money is already priced in now - a friend's buy in made him 8x his original investment but it's not going to octuple in value again. As said read the long term investment thread OP and I highly recommend the IfYouCan e-book, then look at passive whole market funds and fill any ISA and/or pension allowance before starting on single stock gambling. "Why would you want to spend so much time finding the needle when you can just buy the haystack" If you have options to pay into an employer matching pension scheme, take the free money on offer there. If not (and for you as the self employed partner especially) look into a SIPP (Self Invested Pension Plan) as you get any income tax refunded into it automatically up to the 40% threshold (£50k for this tax year) and can fill in a self assessment if you do earn over £50k to reclaim the rest at the end of the tax year. Vanguard have been saying for ages they are in the last stages of being approved to offer SIPPs so keep an eye on their website for updates (they are a thread favourite because there are no shareholders that aren't also invested in their funds so have no incentive to gouge you for ongoing fees - this is covered in more detail in IfYouCan) For shorter term savings find a Cash ISA that fits your circumstances - Help to Buy ISAs are great as they have good interest rates (mines 2.25%) and government bonuses if you use it to buy a first home. Avoid LISAs unless you are absolutely sure you're going to use the money in it to buy a first home or retire with otherwise you get penalised for more than the bonus. The Reddit personalfinanceuk flowchart is also a great start - https://m.imgur.com/BfHzwr9
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Apr 10, 2019 20:16
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Please do if you feel so inclined!
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Apr 10, 2019 21:41
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So I have a brokerage account with Vanguard, I have money in some target date funds, and a few Vanguard Index funds. I'd like to do some good old stock trading. Is that worth doing with Vanguard? I bought a couple shares of NINTENDO because I liked Zelda on NES, but Vanguard has a $7 transaction fee. Is there a better way to do this? Everyone I know uses Robinhood, but isn't that not good? I figure I can park a few hundred bucks and just have some fun with it.
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Apr 12, 2019 16:49
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Jerk McJerkface posted:So I have a brokerage account with Vanguard, I have money in some target date funds, and a few Vanguard Index funds. I'd like to do some good old stock trading. Is that worth doing with Vanguard? I bought a couple shares of NINTENDO because I liked Zelda on NES, but Vanguard has a $7 transaction fee. Is there a better way to do this? Everyone I know uses Robinhood, but isn't that not good? I figure I can park a few hundred bucks and just have some fun with it. I don't have any specific advice (except that everywhere you do stock trading will have a transaction fee except for Robinhood, which as a company has had some hilarious gaffs and I wouldn't touch with a ten-foot pole) but I feel compelled to steer anybody away from stock picking. If you want to waste money gambling, just go to a casino, at least you can get free drinks there.
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Apr 12, 2019 16:56
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Hoodwinker posted:Usual preliminary questions: are you maxing out all of your tax advantaged space? Do you have other savings goals you're working towards? Debts? Don't touch stock picking until these are all taken care of. I'm doing pretty good with my retirement, I've maxed my wife's IRA the past few years, as well as contributing the max for my employer match. I have a small amount of debt that is at 0% that I'll have paid down by July. I'm only putting $1000 in my brokerage account, I can afford to lose it, I just wanted to play around a little and have some fun.
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Apr 12, 2019 17:29
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Jerk McJerkface posted:I'm doing pretty good with my retirement, I've maxed my wife's IRA the past few years, as well as contributing the max for my employer match. I have a small amount of debt that is at 0% that I'll have paid down by July. I'm only putting $1000 in my brokerage account, I can afford to lose it, I just wanted to play around a little and have some fun.
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Apr 12, 2019 17:40
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Hoodwinker posted:That's good to hear. What I said about brokerages still holds: you're going to see transaction fees for everybody except Robinhood, and Robinhood has been acquiring a reputation for hilariously loving up obvious poo poo. The choice is yours. I can stomach $7 per transaction to avoid the hilarity I see on Reddit. I've already made that back from a couple penny stocks I bought that went up 100% today.  My long term plan after I get this debt paid down, start putting $100 a month into a brokerage account and try to buy a shares that pay a dividends, it's not enough money off my budget to make a difference, but in 20 years when my kids are leaving college I'd like to have a decent chunk of money making a passive income that I can help them get started with. Maybe split it and trust them both 15-20k in investments apiece that they can use to start their adult life. It's not much now, but I figure long term it'd be helpful.
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Apr 12, 2019 17:51
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Jerk McJerkface posted:I can stomach $7 per transaction to avoid the hilarity I see on Reddit. I've already made that back from a couple penny stocks I bought that went up 100% today.
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Apr 12, 2019 17:58
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Jerk McJerkface posted:I'm doing pretty good with my retirement, I've maxed my wife's IRA the past few years, as well as contributing the max for my employer match. I have a small amount of debt that is at 0% that I'll have paid down by July. I'm only putting $1000 in my brokerage account, I can afford to lose it, I just wanted to play around a little and have some fun. Why not contribute to the max 401k instead of just your employer contribution? Are the ERs real poo poo? Leaving a lot of tax advantaged space on the table. Fwiw stick picking is dumb. My brokerage account is a combo of VTSAX and VTIAX. Keeps it nice and simple. If you want to gamble around with stocks have fun, $7 is pretty on average for a trade. The time to buy Nintendo was right before 3ds and Wii and then before the switch. An updated switch could really drive their price up if done well though. It is by far the best console I have owned.
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Apr 12, 2019 18:06
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Jerk McJerkface posted:I'm only putting $1000 in my brokerage account, I can afford to lose it, I just wanted to play around a little and have some fun. You're going to lose it in transaction fees if you want to play day trader. That's simply not enough (and yet still too much) for this kind of endeavor. I'm going to go this way: WHY do you want to do this? Can you try it out using a funny money portfolio for a while so you can see just how bad of an idea is it and not lose any real money in the process?
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Apr 12, 2019 18:49
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Every time I think I'm hot poo poo and can beat the market I go back to the brokerage account I set up in my early twenties to do single stock picking e: iirc these were bought in 2011 after the last recession! Doccykins fucked around with this message at 19:19 on Apr 12, 2019 |
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Apr 12, 2019 19:16
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Jerk McJerkface posted:I can stomach $7 per transaction to avoid the hilarity I see on Reddit. I've already made that back from a couple penny stocks I bought that went up 100% today. This is equivalent to showing up at a poker table with just enough to cover blinds for a few rounds and then guessing which hands are good. Picking stocks is hard and not even the “pros” can do it well. Dividend stocks sound great, but is the same as selling a portion of your portfolio yearly. Also, when selling you control the timing of the tax hit (to a degree). (Successful) Investing is boring and so should you.
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Apr 12, 2019 19:20
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spwrozek posted:Why not contribute to the max 401k instead of just your employer contribution? Are the ERs real poo poo? Leaving a lot of tax advantaged space on the table. I don't have the $3000 for the admiral shares minumum investment yet, I put it all in VTI and VXUS. I've been saving the dividends in the cash account for awhile and I had enough for a couple shares of stocks, so I put $150 into a couple stocks I like. Otherwise it's all staying in those two funds, plus small amounts in BND and BNDx. spwrozek posted:Why not contribute to the max 401k instead of just your employer contribution? Are the ERs real poo poo? Compared to my Vanguard IRA, the expense ratios are more. Checking some of the funds that my 401k is in, the ERs are around .30%-.70%. All the Vanguard funds are around .03-.04%. I've been saving each year the IRA max and doing that instead since the ERs are worse, so I don't want to increase my 401k for now. But I get it, I'm not going to try to win big on stocks. For the most part, I'll stick with the Vanguard funds for any investments outside of what I have in a regular old savings account.
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Apr 12, 2019 20:43
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Without exaggeration I would recommend that anyone accumulate $1,000,000 (one million) in Vanguard index funds before buying one penny worth of single company stock.
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Apr 12, 2019 21:03
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GoGoGadgetChris posted:Without exaggeration I would recommend that anyone accumulate $1,000,000 (one million) in Vanguard index funds before buying one penny worth of single company stock. But sure, throw a small amount of money around on individual stocks if you're bored & enjoy it & can afford it & treat it like Vegas gambling.
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Apr 12, 2019 21:05
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Simpsons Reference posted:Please do if you feel so inclined!  weekend but it's here! https://forums.somethingawful.com/showthread.php?threadid=3887120
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Apr 14, 2019 17:40
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I've brought up the idea of opening a joint savings account with my girlfriend today, and she seems on board. The account would be used for us to save money for a down payment on a house, and I was probably going to open an ally account with her. Since we are not married (yet), how do taxes work on joint interest bearing accounts? Is it a pain in the rear end or is it pretty straight forward?
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Apr 14, 2019 18:49
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BAE OF PIGS posted:I've brought up the idea of opening a joint savings account with my girlfriend today, and she seems on board. The account would be used for us to save money for a down payment on a house, and I was probably going to open an ally account with her. This is a bad idea. If you want to save for a house together, do it in your own accounts, not a joint account.
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Apr 14, 2019 18:54
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BAE OF PIGS posted:I've brought up the idea of opening a joint savings account with my girlfriend today, and she seems on board. The account would be used for us to save money for a down payment on a house, and I was probably going to open an ally account with her.
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Apr 14, 2019 18:56
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Don’t combine finances or buy a house together until you’re married, for so many reasons. Save separately until then.
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Apr 14, 2019 19:49
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There’s an app called Honeydue if you both want visibility into each other’s accounts, but yeah do never combine until married.
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Apr 14, 2019 19:50
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Or whatever your personal equivalent of a "ideally til death do us part" relationship is. Getting license from the county doesn't make it any more legit.
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Apr 14, 2019 20:05
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I got lost and thought I was in the BWM thread for the past dozen posts or so.
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Apr 14, 2019 20:19
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I have a question about 10 year Treasury Notes. I thought I had this bond poo poo figured out but I was reading the FT and I was looking at "Interest Rates" Chart: And it had the US Gov 10 yr, and then there's a column for price (123.32), yield (2.55) and chg (0.05). So what does price refer to? I thought you bought notes at par? Or is this some sort of auction price that I'm not aware of? Or is it the par value with the payments factored in or something?
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Apr 14, 2019 20:23
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bollig posted:I have a question about 10 year Treasury Notes. I thought I had this bond poo poo figured out but I was reading the FT and I was looking at "Interest Rates" Chart: That’s what the 10-year is trading in the secondary market. The yield isn’t the coupon rate, but that is a factor into the yield. New issue bonds come in a variety of coupon rates and they are purchased at a discount/premium based on their relation to the prevailing risk-free rate for that term, the credit worthiness of the issuer, and any other options that the bond has.
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Apr 14, 2019 20:42
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GoGoGadgetChris posted:Or whatever your personal equivalent of a "ideally til death do us part" relationship is. Getting license from the county doesn't make it any more legit. For financial resources and obligations it really does 
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Apr 14, 2019 21:18
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balancedbias posted:For financial resources and obligations it really does Eh, depends on your generation or religion I suppose. I know plenty of once/twice/thrice divorced people and just as many unmarried-but-together-for-life! The gist of the advice is "don't mingle your finances unless it's a Permanent Relationship" which can just as easily be outside of legal marriage as in.
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Apr 14, 2019 21:22
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TraderStav posted:That’s what the 10-year is trading in the secondary market. The yield isn’t the coupon rate, but that is a factor into the yield. New issue bonds come in a variety of coupon rates and they are purchased at a discount/premium based on their relation to the prevailing risk-free rate for that term, the credit worthiness of the issuer, and any other options that the bond has. Aha! Thanks.
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Apr 14, 2019 21:24
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Yes, hello IRS, we’re not like ‘married,’ but we promise this is a forever thing.
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Apr 14, 2019 21:25
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