|
he's doing it at 5% and that should speak volumes about his credit portfolio
|
#
?
Sep 26, 2022 19:54
|
|
|
|
| # ? Jun 6, 2024 10:56 |
|
|
5% is now the good variable rate.
|
|
#
?
Sep 26, 2022 21:06
|
|
|
Wait, where is he finding high yield savings at 3.5%?
|
|
#
?
Sep 27, 2022 00:13
|
|
|
Raskolnikov2089 posted:Wait, where is he finding high yield savings at 3.5%? By lying about the numbers.
|
|
#
?
Sep 27, 2022 00:41
|
|
|
Raskolnikov2089 posted:Wait, where is he finding high yield savings at 3.5%? Can't find any at 3.5% but I wouldn't be surprised if there's at least a couple offering that by the end of the week. Here's one at 3.25%: https://www.elements.org/personal/savings/helium-savings/
|
|
#
?
Sep 27, 2022 00:45
|
|
|
Raskolnikov2089 posted:Wait, where is he finding high yield savings at 3.5%? There's a good reason to believe HYS will average that high reasonably soon. 6 mo T-bills are well over >3.5%, and 3 mo is 3.4%. Duckman2008 posted:By lying about the numbers. Its this though
|
|
#
?
Sep 27, 2022 01:03
|
|
|
I think Ally is back up to 2.1%? Still a far way from 3.5 though
|
|
#
?
Sep 27, 2022 02:37
|
|
|
Fed just raised 75 bp last week which isnt quite yet seen in savings rates. Another 75 bp hike is expected in a little over a month.
|
|
#
?
Sep 27, 2022 05:17
|
|
|
Inflation is going to be a cudgel in American politics from here on out. If this is how the Fed reacts to a healthy environment for labor now, it's going to be loving awful as time progresses.
|
|
#
?
Sep 27, 2022 12:38
|
|
|
If you're in the US and A now's the time to be sticking any long term money into an I bond online through the treasury. Max 10K per year bond purchase, but they're giving you 6 months at 9.6% w/ 1 year mimum investment. After that when you pull out you forefit last quarter's earnings (If I recall it's been awhile since I dug into it). It's a p drat god deal.
|
|
#
?
Sep 27, 2022 12:50
|
|
|
can someone give me a goony tl;dr of I-bonds. I'm looking at some stuff online but it's all about 30 year maturity periods and five year penalty periods.
|
|
#
?
Sep 27, 2022 13:17
|
|
|
I-Bonds are government-issued bonds pegged to inflation. Right now the initial interest rate on new Series I savings bonds is 9.62 percent. You can buy I bonds at that rate through October 2022. The interest rate of the bond is reassessed twice a year. The net value of your gain is supposed to be 0, but that is pretty good when your cash is losing 5-10% of its value a year. You are allowed to invest up to $10k per year in I-bonds. You can hold I-Bonds for up to 30 years. You must hold them for at least 1 year before you are allowed to cash out. If you sell before the 5 year mark, you will have to return the last 3 months of interest borne on the bond. It's all pretty straightforward and laid out at https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_iredeem.htm
|
|
#
?
Sep 27, 2022 13:25
|
|
|
Basically you buy the bond now, and you can sell it back later for the face value plus interest. After thirty years the interest stops going up. If you sell it before five years are up, you give up some of the interest.
|
|
#
?
Sep 27, 2022 13:29
|
|
|
i-bond TLDR. Online bonds (10k) or Paper bonds (5k) from US Treasury with stupid interest rates curently Minimum purchase $25 electronic, $50 paper 10 K max purchase per year per person (married ppl can still buy 10k each) Interest earnings are subject to federal income tax, but not subject to local/state taxes. Interest earnings MAY be excluded from Federal tax when used to finance education (no clue how much of a pain in the dick this is to deal with) Holdling an i-bond: Year 0-1: Cannot cash out Year 1-5 if you cash out you lose last 3 months of interest Year 5-30 you can cash out with no penalty at all Year 30+ you stop earning any interest. edit: note that the Treasury made this a harder pain in the rear end as they didn't think I was me and I had to go get a bank to use a special treasury signatory account stamp (NOT A NOTARY) to verify I was an account holder, and that I was who I said I was. This took an additional 2ish months so I was glad I started early. Edit2: as others have mentioned this is mostly a "your money stays with inflation". It's better than getting 2 bucks a year on 10k from your bank. I had a savings account with money sitting for a mid-term goal, so I figure poo poo.. why not stick it with the feds so I can earn actual interest on it, I will not need it within the year, and probably not within the 5 years, but losing 3 month interest would still have me come out WAY ahead of parking that money in a traditional savings account. tater_salad fucked around with this message at 13:40 on Sep 27, 2022 |
|
#
?
Sep 27, 2022 13:31
|
|
|
Also note that the current interest rate will apply for the first 6 months of you owning the bonds, so if you buy in today you're going to get 9.62% until March regardless of what the interest rate changes to in November. It's an insanely good deal rn.
|
|
#
?
Sep 27, 2022 13:41
|
|
|
Thanks thread. Reading BWM is GWM. Already talking with my wife about grabbing some.
|
|
#
?
Sep 27, 2022 14:24
|
|
|
It's entirely a store of value that protects you against inflation. For the majority of the last decade, I-Bonds have had low single digit nominal interest rates and get crushed by things like HYSAs. They're a perfectly sound store of value and are useful component of your portfolio but right now it seems to me people are just value seeking off the nominal rate without really understanding what they do. If inflation cools, they go back to having a very low rate.
|
|
#
?
Sep 27, 2022 14:43
|
|
|
^^ this. My plan is to park it while this whole inflation thing keeps going and then re-assess after my year hits. Then I'll look at HYSAs and Ibond interest and see what makes sense. The 9.61% is a pretty high rate for a place that's mostly "park money" since there's a pretty low risk for this gain.
|
|
#
?
Sep 27, 2022 14:55
|
|
|
I mean "crushed by HYSA" is very subjective. For example in 2018 I bonds yielded 2.97%-3.37% depending on when you purchased, so right around what you would be getting from a HYSA. 2017 was a little over 2%, 2016 was 1.5%. They are usually right around HYSA rates, not getting crushed by them.
|
|
#
?
Sep 27, 2022 15:24
|
|
|
https://twitter.com/yo/status/1574787089924857860
|
|
#
?
Sep 27, 2022 18:32
|
|
|
that's like metaverse dollars right? not real American dollars. There's no way some sucker paid 290,000 real american dollars for a VR house in a world that could be shut down tomorrow. I'm in the wrong god damned business.
|
|
#
?
Sep 27, 2022 19:14
|
|
|
tater_salad posted:that's like metaverse dollars right? not real American dollars. There's no way some sucker paid 290,000 real american dollars for a VR house in a world that could be shut down tomorrow. I'm in the wrong god damned business. Yeah but if I buy a computer house for $290k I can charge $2k rent for other computer people to live in my computer house which is a real thing people will do.
|
|
#
?
Sep 27, 2022 19:19
|
|
|
So this guy is wandering round his tiny 1 bedroom apartment with a VR headset on bumping into walls and pretending his bath is a pool right?
|
|
#
?
Sep 27, 2022 19:20
|
|
|
You're right to assume the worst of an NFT/crypto person but that's a joke
|
|
#
?
Sep 27, 2022 19:22
|
|
|
Kevin DuBrow posted:You're right to assume the worst of an NFT/crypto person but that's a joke Honestly I can no longer tell with how absurd things are.
|
|
#
?
Sep 27, 2022 23:55
|
|
|
KYOON GRIFFEY JR posted:It's entirely a store of value that protects you against inflation. For the majority of the last decade, I-Bonds have had low single digit nominal interest rates and get crushed by things like HYSAs. The nominal rate (now and down the road) is all that actually matters. It's not like any of your other investments denominated in dollars are inflation-adjusted. Even if inflation cools it will probably take some time to get all the way back down; in the meantime, you have a zero-risk instrument collecting value.
|
|
#
?
Sep 28, 2022 03:37
|
|
|
the only negative about ibonds is you have to buy them through that horrid treasury website.
|
|
#
?
Sep 28, 2022 09:02
|
|
|
Make sure when you sign up with Treasury Direct you link a bank account that isn't likely to change, because changing it later requires a paper form to be sent in after it's been stamped at a bank and good luck convincing a bank to do it based on the complaints about that posted elsewhere.
|
|
#
?
Sep 28, 2022 09:21
|
|
|
But in the Metaverse, Troy Osinoff was a warrior prince.
|
|
#
?
Sep 28, 2022 12:54
|
|
|
Strong Sauce posted:the only negative about ibonds is you have to buy them through that horrid treasury website. Pro tip - right click password field, inspect, delete readonly attribute so you can use your keyboard/password manager to login
|
|
#
?
Sep 28, 2022 13:48
|
|
|
Vice President posted:Make sure when you sign up with Treasury Direct you link a bank account that isn't likely to change, because changing it later requires a paper form to be sent in after it's been stamped at a bank and good luck convincing a bank to do it based on the complaints about that posted elsewhere. For what its worth, this took me about 10 minutes to do earlier this year at my credit union and didnt cost anything.
|
|
#
?
Sep 28, 2022 17:50
|
|
|
https://twitter.com/EdConwaySky/status/1575128310740389889
|
|
#
?
Sep 28, 2022 17:53
|
|
|
drk posted:For what its worth, this took me about 10 minutes to do earlier this year at my credit union and didnt cost anything. What are the requirements? Just a letter or validation of who owns the account?
|
|
#
?
Sep 28, 2022 19:42
|
|
|
What is going on in the UK exactly? We're near dollar-pound equity for the first time since the early 80s. Did Brexit gently caress them that badly, or are there other factors at play?
|
|
#
?
Sep 28, 2022 20:46
|
|
|
LanceHunter posted:What is going on in the UK exactly? We're near dollar-pound equity for the first time since the early 80s. Did Brexit gently caress them that badly, or are there other factors at play? The new PM is doing a very dumb thing that everyone from socialist economists to former members of Thatcher's government are begging them not to do. But, they are still doing it. The short and dumbed down version is that they are increasing their debt load by ~45% to finance a huge "stimulus package" that cuts taxes for the top 7% of incomes, uncaps the bonuses bankers can make, subsidizes gas companies/bills for a few months, and cuts the taxes that fund the NHS. Everyone, including even the IMF, is saying that there is no way that those programs would ever juice the economy enough to make this huge amount of debt worth it. But, the new PM insists that it will pay for itself. So, everyone is dumping their UK holdings and bonds because there is a worry that the UK won't be able to service all of their debt on time going forward.
|
|
#
?
Sep 28, 2022 20:51
|
|
|
therobit posted:What are the requirements? Just a letter or validation of who owns the account? There's a form on Treasury Direct you fill out, and it lists the things the bank can use to stamp it. One of them is a "Signature Guarantee" stamp, which is not a Medallion stamp, and apparently many banks assume you mean a Medallion stamp when you ask for that so they immediately tell you no.
|
|
#
?
Sep 28, 2022 20:52
|
|
|
Leon Trotsky 2012 posted:The new PM is doing a very dumb thing that everyone from socialist economists to former members of Thatcher's government are begging them not to do. But, they are still doing it. Pretty sure she isn't completely stupid and realizes this policy is worse for britain as a whole. But the real purpose is to enrich the party's wealthy conservative buddies who want lower taxes and are shorting the pound.
|
|
#
?
Sep 28, 2022 21:08
|
|
|
RPATDO_LAMD posted:Pretty sure she isn't completely stupid and realizes this policy is worse for britain as a whole. But the real purpose is to enrich the party's wealthy conservative buddies who want lower taxes and are shorting the pound. I know that is the real answer (and she is high on her own ideology supply), but when you have members of MARGARET THATCHER'S government begging you not to do this, then you are definitely off the reservation.
|
|
#
?
Sep 28, 2022 21:10
|
|
|
Britain's Wilting Money: Gilt trip
|
|
#
?
Sep 28, 2022 21:11
|
|
|
|
| # ? Jun 6, 2024 10:56 |
|
|
Thatchers people are part of the old guard where you grift but you take it slowly and not much at once. The new generation just doesn’t really care anymore
|
|
#
?
Sep 28, 2022 21:20
|
|
