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Have you heard of Affirm?

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1 hour ago, hegemony said:

the whole weak dollar policy and dream of 2% inflation policy is killing people who actually saved money.

 

fed and treasury want everyone in the market. We're about 20% cash right now and trying to decide on buying recreational land or depressingly low APY CDs. I suppose I could move it all into yen, dinars, and dong and hope for the best.


Actually the best investment is Chinese real estate.  Guaranteed at least 15% per year just sitting on the vacant house.  Renting it out add another 5% or more.  

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On 9/19/2020 at 10:42 AM, hegemony said:

the whole weak dollar policy and dream of 2% inflation policy is killing people who actually saved money.

 

I understand why it seems that way.  But CD investors invariably fare poorly (after-tax) when it comes to preserving the value of their money, no matter what rates are being offered.

 

Getting 5% on a CD investment "feels" a lot healthier than a meager 1% now.  But the investor today may come out ahead, after taxes, in real dollar terms (much less "inflation related" income being taxed).

 

 

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1 hour ago, hdporter said:

 

I understand why it seems that way.  But CD investors invariably fare poorly (after-tax) when it comes to preserving the value of their money, no matter what rates are being offered.

 

Getting 5% on a CD investment "feels" a lot healthier than a meager 1% now.  But the investor today may come out ahead, after taxes, in real dollar terms (much less "inflation related" income being taxed).

 

 

nobody should be a "CD investor" (insert cross dressing joke here).

 

But for people with $X dollars who plan to use the funds in Y years, a CD is one option to park the funds. It isn't always about getting returns other than keeping up with inflation.

 

Then again, "smart" money would tell us to forget about using cash to buy a property and just take out a mortgage.

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1 hour ago, hegemony said:

nobody should be a "CD investor" (insert cross dressing joke here).

 

But for people with $X dollars who plan to use the funds in Y years, a CD is one option to park the funds. It isn't always about getting returns other than keeping up with inflation.

 

Then again, "smart" money would tell us to forget about using cash to buy a property and just take out a mortgage.

30 year CD's turned out to be a reasonable place to park money 15 years ago. Reasonable return and the market value today minus principal repaid is amazingly high. Not happening now with miniscule interest rates. Rates can drop below 0 and banks could start charging you money for savings but people would just pull the cash and stick it under the mattress. Fed has little room to maneuver. Any significant interest increase makes national debt payments a big fraction of the tax revenue and material negative interest rates can cause a recession as people withdraw savings into cash.

 

Will be an interesting 5 years.

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On 9/19/2020 at 5:10 AM, cv91915 said:

It's fine if don't mind managing your finances on an iPod Nano.  

 

Pro tip:  To maximize returns on your Affirm account, use the trial deposit method to link external accounts.  The deposits don't seem to get reversed.

 

 

Oru8mmi.jpg 

 

 

 

Funds going into my Affirm account are available after 2 business days.  I think all of my other "online" accounts take 5 business days.

 

I pushed my first ACH out from Affirm yesterday, and the money arrived in our checking account today.  

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