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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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Crap ... I was freakin' 25  <sigh>   (heading out with my walker now ....  taking it in for its 1000 hour tennis ball check up )

Is this your mermaid?  

I used it to snag the fiancée's ring. *shrug* I like having pay-over-time options when it costs me nothing in interest.  

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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  • 3 weeks later...
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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21 hours ago, cv91915 said:

ACHs out are now arriving in my checking account the same day.

 

You have such low standards.  No wonder the porch surfing.

 

Money I push out of HSBC arrives in about 3 seconds at Chase, B of A or any of my other accounts.  

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On 10/9/2020 at 7:00 AM, hegemony said:

Or at least thinking about it. I absolutely HATE confidential S-1 filings which was a byproduct of the JOBS act. Used to have fun reading new S-1's and S-1A's before they went effective. The deltas between them provided insight into what the SEC regulators were concerned about but they also provided a great deal of insight into the biz. And every now and then I'd take a position when they IPO'ed.

 

Now you only get 15 days before they release the buggers before the issue goes effective. Not a lot of time. And public discussion on the S-1's sometimes impacted what the regulators asked and got addressed in subsequent S-1A's.  Now the regulators don't have that and have to go by their own research which is reduced when lots of companies start filing. To some degree I think this change has produced a bit of a bubble.  Time will tell.  I also don't like the decrease of audited financials from 3 years to 2 years. Hell, even ZZZ Best produced 3 years of audits (that they faked). Two years is easier to fake.

 

/rant

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On 8/25/2020 at 3:28 PM, cv91915 said:

:lol: 

 

 

As of August 25, 2020, the annual percentage yield (APY) for your Affirm Savings account is changing from 1.30% to 1.00%.

 

Please know that we don’t make changes like this lightly. Your Affirm Savings is a variable rate account, which means rates can change due to overall market conditions. And right now, we’re experiencing historically low rates from the Federal Reserve.

 

There’s some good news to share. At 1.00% APY, Affirm Savings is still a high-yield account, earning one of the most competitive rates around–more than 16 times the national average. And, with no account fees and no minimums, your balance is all yours.

 

That’s why it makes sense, especially now, to take your savings even further. One strategy is to set up recurring deposits, to grow your balance effortlessly.

 

In the meantime, we’ll keep working to give you the best rates possible. The new APY shows in your savings account details in the app, and your account agreement also has the details about the APY.

 

Thanks for choosing Affirm.

– The Affirm team

 

 

xIEgNOf.jpg 

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  • 2 weeks later...

How convenient.

 

I suspect that this is the daily withdrawal limit, as the balance is significantly higher -- and virtually (if not actually) every nickel of it came from the account to which I'm trying to move some money back.

 

AEf3JOy.png 

 

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On 12/28/2020 at 6:02 AM, cv91915 said:

How convenient.

 

I suspect that this is the daily withdrawal limit, as the balance is significantly higher -- and virtually (if not actually) every nickel of it came from the account to which I'm trying to move some money back.

 

AEf3JOy.png 

 

I just transferred more from Affirm to the same account to which I transferred yesterday.

 

$25,000 must be the daily withdrawal limit.  

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