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That's more travel than a literal sailor does. 100k just to get out of bed for that much travel, probably 200k.
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Feb 5, 2023 16:29
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I have a Fidelity banking question, someone help me roll a sanity check... My Cash Management Account with Fidelity used SPAXX for its core position for the longest time, as in multiple years. I didn't pay attention to the expense ratio at the time, partly because I was younger and less informed back when I opened the account. Now interest rates are looking pretty favorable, and my CMA's core position is split across three different tickers that start with a Q, are FDIC insured, and are technically held by external partner banks like Wells Fargo and Citi. If I try to change the core position, I get a message saying it cannot be changed. A Fidelity rep tells me that SPAXX is still available as an investment option, just not a core one. ...is there something fishy here? It seems to me that Fidelity was happy to default me into SPAXX when it made them an easy profit, but now that rates would force SPAXX to pay out, the default position is some workaround conjured with banks other than the one for which I signed up. Buying a bunch of SPAXX isn't a big deal, but having to uncover the switcharoo kind of is, unless there was some big announcement and I missed it. I'm about ready to shuffle to another bank/credit union. Am I overreacting or simply sniffing out the dirty truth?
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Feb 8, 2023 02:35
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I'm not familiar with the ins and outs of Fidelity, but that sounds sus to me.
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Feb 8, 2023 02:39
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Again, my own naivete on display here, but I also notice that past blog posts about "which Fidelity core position should I use" (because they were always changeable until somewhat recently) cited SPAXX as having a 0.06% expense ratio. Now the ER is 0.42%. Did Fidelity try to have it both ways - increase the price of their money market fund for anyone who bothers to opt into it, but push customers out of them to save themselves from paying out the interest (seven-day yield sits at 3.96%)?
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Feb 8, 2023 02:50
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Here's some discussion about the CMA core thing https://www.bogleheads.org/forum/viewtopic.php?t=385627
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Feb 8, 2023 02:54
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Why are you worried about your core positions interest and not the fdic insurance provided by those sweep accounts? (The three bank positions you see.) I know some banks offer fdic insured money market accounts, but I don't think fidelity does. Edit: looks like my brokerage account is still SPAXX. I don't have a CMA with them.
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Feb 8, 2023 21:15
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H110Hawk posted:Why are you worried about your core positions interest and not the fdic insurance provided by those sweep accounts? (The three bank positions you see.) I understand the value of FDIC insurance but care more about return on idle cash coming from a financial behemoth like Fidelity. Also, the 2008 crash and everything Wells Fargo has been a part of since has made me terribly allergic to any account touching them, probably an overreaction on my part but that's my deal. Shifting checking, direct deposits, and credit card business to Alliant has proven simple enough. Fidelity can remain my brokerage while Alliant serves as my bank. NCUA insurance checks out.
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Feb 10, 2023 20:31
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Whatever make you happy. In the end that's what counts. I don't make any interest on my cash checking account, then my savings account earns whatever ally is paying these days. Again, the value in the core checking account is fdic insurance. They're passing through what those other banks are offering basically. I get 0.01% "why do you even bother with the paperwork" from my checking. For those playing along you are one support ticket away from restricting your sweep accounts off certain banks. There is a process for it to help ensure you are insured to the maximum possible with fdic. Basically if you have $250k in cash sitting around at another bank you can tell fidelity not to use that one for sweeping. They don't actually care if you do, so you can tell them not to use Wells Fargo.
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Feb 10, 2023 22:39
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Which thread should I hit up for an overview/fielding some questions I have about a balance transfer card?
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Feb 11, 2023 17:13
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Feb 11, 2023 17:18
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Father Wendigo posted:Which thread should I hit up for an overview/fielding some questions I have about a balance transfer card? https://forums.somethingawful.com/showthread.php?threadid=3679537&perpage=40&noseen=1&pagenumber=211
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Feb 11, 2023 18:06
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Is there any reason I should keep my old bank accounts open after moving money out of them? I just missed an easy $900 Chase bonus for new checking+savings signups because I dragged my feet and just closed my checking account with them last month instead of over a year ago. That stung and I'd rather not repeat it, but am curious if there are any arguments on the flip side for keeping them open.
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Feb 11, 2023 20:02
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I can't think of any. In fact I would advocate closing bank accounts ASAP so you have less to keep track of.
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Feb 11, 2023 20:05
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Alright, thanks. I already closed most of the stragglers before I thought to ask, so I'll go ahead and kill the last set at Liberty.
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Feb 11, 2023 20:15
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KYOON GRIFFEY JR posted:I can't think of any. In fact I would advocate closing bank accounts ASAP so you have less to keep track of. If it’s a bank or credit union with a local physical office, it can be useful to have their notary or other services even if you don’t maintain any significant balance with them. That’s been my use case.
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Feb 11, 2023 21:02
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pmchem posted:If it’s a bank or credit union with a local physical office, it can be useful to have their notary or other services even if you don’t maintain any significant balance with them. That’s been my use case. That's fair.
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Feb 11, 2023 21:08
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Oops, wrong thread.
Facebook Aunt fucked around with this message at 16:55 on Feb 13, 2023 |
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Feb 12, 2023 14:45
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ok this might end up being fun https://twitter.com/tracyalloway/status/1630944009710448642?s=20 hopefully they don't can it after a few weeks
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Mar 1, 2023 15:55
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pmchem posted:hopefully they don't can it after a few weeks they are already talking about anime and manga lol
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Mar 2, 2023 05:48
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I don't know what any of that tweet means
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Mar 2, 2023 19:17
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SpelledBackwards posted:I don't know what any of that tweet means odd lots is a popular podcast about business, finance, economics and markets: https://podcasts.apple.com/us/podcast/odd-lots/id1056200096 the bitcoin-avocado thing is just a joke, one of the odd lots hosts used to make charts correlating the prices of the two as a way to poke fun at bitcoin
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Mar 2, 2023 19:51
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I have a CapitalOne high performance savings account. It’s currently on 3.4% APY. At the end of Jan, I had $6615.57 in that account and gained $19.96 in interest = 3.0% At the end of Feb, I had $8,095.88 and gained $18.63 in interest = 2.3% 1. Why am I getting less interest when there’s more money in the account? Are they using some daily average balance as the base as opposed to the balance at time of interest rate payout? 2. What I’m really interested in is maximizing my interests every month. The APY of different banks should be directly comparable, right?
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Mar 9, 2023 05:32
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Vegetable posted:I have a CapitalOne high performance savings account. It’s currently on 3.4% APY. 1. Yes, they use an average daily balance. 2. Yes, banks APY is directly comparable. If you're in a HYSA now, chances are there aren't going to be many banks that will beat your current rate. For example Ally, which has been a goon favorite for HYSA, is also at 3.4%.
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Mar 9, 2023 15:14
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Capital One has an 11mo CD at 5% deal that expires on the 14th if you're able to park that money for a while. Otherwise, SoFi offers 3.75% on their savings accounts. You can probably find something even better here: https://www.doctorofcredit.com/high-interest-savings-to-get/ It's probably more worth it to open a new account somewhere that gives you a bonus of a couple hundred bucks, as moving to a new HYSA that's only a fraction of a percent higher than what you're earning now is only gonna net you a few bucks annually.
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Mar 9, 2023 15:43
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Sirotan posted:Capital One has an 11mo CD at 5% deal that expires on the 14th if you're able to park that money for a while. If you're going to go the CD route and it's semi e-fund money, Ally might still have their 5% CD that you can cancel at any time and only lose two months interest. I think Ally is largely overrated, but that particular offering is a tempting solution even to me
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Mar 9, 2023 23:30
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Unsinkabear posted:If you're going to go the CD route and it's semi e-fund money, Ally might still have their 5% CD that you can cancel at any time and only lose two months interest. I think Ally is largely overrated, but that particular offering is a tempting solution even to me The no-penalty CD with Ally is currently at 4%.
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Mar 10, 2023 05:58
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Sirotan posted:The no-penalty CD with Ally is currently at 4%. I meant this one. Their fee-free is at 4%, but their regular one also has the ability to withdraw early, and with such low fees that I don't know why you'd bother with the lower interest rate version.
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Mar 11, 2023 20:37
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So if you’re FDIC insured up to $250k, what happens if you have retirement accounts over that? I don’t, but hypothetically let’s say I had $300k in a Roth IRA in Fidelity. Should you split it in half and take $150k to Vanguard or somewhere else? Do people really do that, like if you were getting close to retirement and had $1m+ of investments, it would be split among 4 or 5 banks? What if it was an employer 401k where you may not be able to choose the bank?
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Mar 11, 2023 22:56
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i like nice words
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Your retirement accounts aren't fdic insured. It's only deposit accounts (checking, savings, certain money markets) that are insured against bank failure. There is SPIC against your brokerage failing. But overall the assets are the stocks and funds themselves. You can also get another $250k with a trust if you have that much cash kicking around. You probably shouldn't though unless you are buying a a house. Your spouse also gets $250k if that's a thing. So you could have basically $750k in coverage at a single bank if you insisted.
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Mar 11, 2023 23:23
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I don’t know anything but what I’ve googled, but it looks like a bunch of retirement account types including Roth IRAs are FDIC insured https://www.fdic.gov/resources/deposit-insurance/diguidebankers/certain-retirement/index.html
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Mar 11, 2023 23:29
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Your brokerage would have to be involved in some serious fraud, or the whole financial house of cards tumbling down for your account to be lost/covered by SIPC. The assets are in your name, and while the brokerage may loan those assets out, they should be recoverable. SIPC stepped in for events on the order of MF Global, Madoff, Lehman brothers. btw, that goddamn rear end in a top hat Jon Corzine of MF Global. Cannot believe he escaped pretty much unscathed. Only a $5 million fine and a "lifetime ban" from CFTC markets. The last time I looked him up, wikipedia was describing him as a "philanthropist". I made my one and only edit to strike that poo poo out of there, and I'm glad to see no one has had the balls to put it back. But somehow even with the lifetime ban, he's got another hedge fund going - https://www.institutionalinvestor.com/article/b1gpg14h7x90zd/Jon-Corzine-Wants-a-Comeback-After-Blowing-Up-MF-Global-Allocators-Say-Nope
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Mar 11, 2023 23:52
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Anne Whateley posted:I don’t know anything but what I’ve googled, but it looks like a bunch of retirement account types including Roth IRAs are FDIC insured Notice how they're talking about IRA CD's? These are still the cash and equivalents in your Roth IRA. You should be having the majority of your assets invested in something for most people. Even if a % of your assets are semi-liquid because you are retired you would be talking about a seriously massive account to wind up with >$250k in FDIC insured account value.
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Mar 11, 2023 23:56
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Does adding someone as an authorized user do anything positive for their credit rating?
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Mar 31, 2023 20:07
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Supposedly it gives them the full history of that card, applicable to average age of accounts and everything. But the one I set up for my partner has yet to even appear on her credit report, so YMMV
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Mar 31, 2023 21:07
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As far as I know (i.e., back when I worked at a credit card company 15 years ago) companies can choose what if anything to report to an authorized user's report. AmEx reported everything, my (small regional bank) reported nothing.
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Mar 31, 2023 21:27
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The reports through credit karma and banks all have my Mom's gas card that I was added as an authorized user on when I was 15. So I show up as having 40 years of credit history despite being 35. I assume real rear end loan officers know better though.
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Mar 31, 2023 22:27
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Grumpwagon posted:As far as I know (i.e., back when I worked at a credit card company 15 years ago) companies can choose what if anything to report to an authorized user's report. AmEx reported everything, my (small regional bank) reported nothing. Wells Fargo insists that they report everything, both online and over the phone, so maybe the timeline is the part at their discretion. Fingers crossed that it shows up within the next few years
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Apr 1, 2023 03:20
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I ate out today because I’m sleepy and tired
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Apr 11, 2023 23:03
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Speaking of reporting - is there any < non-crypto / non-darkweb tor > tool to conduct relatively anonymous online purchases? I was thinking something like those prepaid credit cards / visa gift cards, but the customer reviews for those are brutal. Seems like a downright scam where you can’t get money off of them. I’m thinking of like, okay so the person wants to buy something online they have an email for confirmation and there’s a P.O. Box for shipping… then a hypothetical card wouldn’t need a full name at checkout - right?
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Apr 11, 2023 23:09
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Just find a dealer and use cash, man.
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Apr 11, 2023 23:14
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