Always Call Heads Posted September 18, 2018 Report Share Posted September 18, 2018 Looks like their savings account is paying 2%...I assume I would get that on top of the $750 is that correct? 2% is pretty good for savings these days.Is excellent. This is about as good as it gets if you have the money available. Quote Link to comment Share on other sites More sharing options...
Bump City Posted September 18, 2018 Report Share Posted September 18, 2018 I got about 65 K at capital one, getting 1.85%, another 15 in my checking acct(getting almost nothing), and maybe another 30 sitting in money funds, waiting for I dont know what. Drops in the bucket mboy.Why would you keep 80k in 2 accounts generating under 1.7% interest? Jaysus. Quote Link to comment Share on other sites More sharing options...
IAG Posted September 18, 2018 Report Share Posted September 18, 2018 Is excellent. This is about as good as it gets if you have the money available.I thought I saw 2%, but looks like I’m seeing 1.5 now CBIC has 2.10. Guess I’ll have to do some math to see which one would make more sense. Man it’s tough to make safe money. Might have to throw more in Prosper. Quote Link to comment Share on other sites More sharing options...
Always Call Heads Posted September 18, 2018 Report Share Posted September 18, 2018 I thought I saw 2%, but looks like I’m seeing 1.5 now CBIC has 2.10. Guess I’ll have to do some math to see which one would make more sense. Man it’s tough to make safe money. Might have to throw more in Prosper.Yeah, that seemed very high. Thought maybe they were making a big push or something. You have to check to see how long you have to hold it and then take it out right away. Will probably make a good rate during that time. It will be worth doing. Quote Link to comment Share on other sites More sharing options...
WVU Posted September 18, 2018 Author Report Share Posted September 18, 2018 Sweet...Been looking for something like this. Thanks WVU.You were one of a few who I thought would be interested. :) Quote Link to comment Share on other sites More sharing options...
IAG Posted September 18, 2018 Report Share Posted September 18, 2018 Yeah, that seemed very high. Thought maybe they were making a big push or something. You have to check to see how long you have to hold it and then take it out right away. Will probably make a good rate during that time. It will be worth doing.I did the math, and yes you are right. It is a better deal to do it even at 1.5 for three months. I hate moving shit around though, and usually don’t do it, or delay doing it, which is why I’ve got too much money sitting in a negligible interest-bearing checking account right now. When are ten percent interest rates coming back lol? Quote Link to comment Share on other sites More sharing options...
WVU Posted September 18, 2018 Author Report Share Posted September 18, 2018 Sweet...Been looking for something like this. Thanks WVU. Quote Link to comment Share on other sites More sharing options...
WVU Posted September 18, 2018 Author Report Share Posted September 18, 2018 How is this better than a Canadian bank(virtual monopoly) that pays 4% dividends per annumDividends are paid quarterly (roughly 90 days) and you don’t have to sell your silver to buy inI didn't say it was better. But can Americans open an account there? Quote Link to comment Share on other sites More sharing options...
IAG Posted September 18, 2018 Report Share Posted September 18, 2018 You were one of a few who I thought would be interested. :)Yeah...I’ve been lazy on my BTC gains and it has cost me a bit...also was trying to avoid a Wells Fargo SARS...I paid my taxes, but just have a bad feeling about an audit. But it’s stupid to leave it there...opened the HSBC this morning... Literally had just been thinking I have to do this this week, so I’m glad you saved me the legwork for the most part! Quote Link to comment Share on other sites More sharing options...
WVU Posted September 18, 2018 Author Report Share Posted September 18, 2018 and to think I was getting shit for posting this thread... some people only want to bash while others really do try to help people.. Quote Link to comment Share on other sites More sharing options...
IAG Posted September 18, 2018 Report Share Posted September 18, 2018 and to think I was getting shit for posting this thread... some people only want to bash while others really do try to help people..I think it’s just that when you are younger, as many posters, especially if you have a family, and gamble lol...the idea that you would have save any real amount of money seems impossible...pretty sure everyone here had a negative net worth at some point in their life...so I get it...but if It helps one or two people, worth posting. We also need to revive the credit card bonus thread. Quote Link to comment Share on other sites More sharing options...
Dingo Posted September 18, 2018 Report Share Posted September 18, 2018 I didn't say it was better. But can Americans open an account there?RBC(Royal Bank of Canada) trades on the NYSE look at the chartsCanadian banks have a virtual monopoly Safest investment ever and along with a 4% dividend there’s appreciation Keep all my retirement funds in banks and utilities Quote Link to comment Share on other sites More sharing options...
Dingo Posted September 18, 2018 Report Share Posted September 18, 2018 I thought I saw 2%, but looks like I’m seeing 1.5 nowCBIC has 2.10. Guess I’ll have to do some math to see which one would make more sense.Man it’s tough to make safe money. Might have to throw more in Prosper.Be careful with Prosper I can see a lot of defaults happening in the next yearFinancing has been too loose in the last little while Quote Link to comment Share on other sites More sharing options...
Always Call Heads Posted September 18, 2018 Report Share Posted September 18, 2018 I did the math, and yes you are right. It is a better deal to do it even at 1.5 for three months. I hate moving shit around though, and usually don’t do it, or delay doing it, which is why I’ve got too much money sitting in a negligible interest-bearing checking account right now.When are ten percent interest rates coming back lol?Money market mutual funds are paying 2% now. Open a Vanguard MM and link it to the savings account and then zap it out to the MM. Quote Link to comment Share on other sites More sharing options...
IAG Posted September 18, 2018 Report Share Posted September 18, 2018 Be careful with Prosper I can see a lot of defaults happening in the next yearFinancing has been too loose in the last little while When I do that I am very diversified....like extremely diversified. Definitely did OK with it, but I didn’t have much in there. It was a trial, and then I got lazy, and didn’t want to review all the apps, or trust their algorithms. Still way better than a savings account, but yeah, would not feel comfortable having too much in there....too many Brocks out there. Quote Link to comment Share on other sites More sharing options...
Dingo Posted September 18, 2018 Report Share Posted September 18, 2018 When I do that I am very diversified....like extremely diversified. Definitely did OK with it, but I didn’t have much in there. It was a trial, and then I got lazy, and didn’t want to review all the apps, or trust their algorithms. Still way better than a savings account, but yeah, would not feel comfortable having too much in there....too many Brocks out there.Don’t think I will matter how diversified you are when the crunch comesYou have to remember people that are willing to pay a higher interest rate have generally used all their other borrowing options and you will be an unsecured lender Quote Link to comment Share on other sites More sharing options...
IAG Posted September 18, 2018 Report Share Posted September 18, 2018 Don’t think I will matter how diversified you are when the crunch comesYou have to remember people that are willing to pay a higher interest rate have generally used all their other borrowing options and you will be an unsecured lender Many of these people pay a LOWER interest rate....and there are screens. No sub prime borrowers...they have different risk classifications. Quote Link to comment Share on other sites More sharing options...
IAG Posted September 18, 2018 Report Share Posted September 18, 2018 https://investorjunkie.com/peer-to-peer-lending/prosper-review/ Quote Link to comment Share on other sites More sharing options...
WVU Posted September 18, 2018 Author Report Share Posted September 18, 2018 RBC(Royal Bank of Canada) trades on the NYSE look at the chartsCanadian banks have a virtual monopolySafest investment ever and along with a 4% dividend there’s appreciationKeep all my retirement funds in banks and utilitiesoh it is a stock, lol. I thought you found a bank with 4% interest on deposits Quote Link to comment Share on other sites More sharing options...
Dingo Posted September 18, 2018 Report Share Posted September 18, 2018 https://investorjunkie.com/peer-to-peer-lending/prosper-review/Well I was doing a few private mortgage loans but got cold feet in the last few monthsPersonally think people that need to use anything other than conventional financing are on their last legs as far as borrowing moneyGood luck Quote Link to comment Share on other sites More sharing options...
IAG Posted September 18, 2018 Report Share Posted September 18, 2018 Well I was doing a few private mortgage loans but got cold feet in the last few monthsPersonally think people that need to use anything other than conventional financing are on their last legs as far as borrowing moneyGood luckGetting an unsecured loan from a bank is difficult, which leaves many to use credit cards with higher interest rates. I think you have it backwards. But in any case, there will still be defaults and if you have a lot on the wrong loan you will get burned. But if you spread your money around $25-$100 per loanI still think your odds are pretty good. Quote Link to comment Share on other sites More sharing options...
Dingo Posted September 18, 2018 Report Share Posted September 18, 2018 Getting an unsecured loan from a bank is difficult, which leaves many to use credit cards with higher interest rates. I think you have it backwards. But in any case, there will still be defaults and if you have a lot on the wrong loan you will get burned. But if you spread your money around $25-$100 per loanI still think your odds are pretty good.Well when prosper had all the defaults it was because of the financial crisis You were lending money when the times were good just wait and see when the shit hits the fanBy unsecured I mean you as the lender.People will try to pay keep their house and cars before they pay Prosper Quote Link to comment Share on other sites More sharing options...
Dingo Posted September 18, 2018 Report Share Posted September 18, 2018 My bank took away my unsecured business line of credit recently,they wanted me to secure it with my house I told them to fuck offSomething is going on I had that line of credit for 10 plus years at prime +1 Quote Link to comment Share on other sites More sharing options...
IAG Posted September 18, 2018 Report Share Posted September 18, 2018 Well when prosper had all the defaults it was because of the financial crisis You were lending money when the times were good just wait and see when the shit hits the fanBy unsecured I mean you as the lender.People will try to pay keep their house and cars before they pay ProsperThey also didn’t have the strict credit standards they do now. I don’t disagree though,. People will always pay their mortgage and their car payment before something secured. Quote Link to comment Share on other sites More sharing options...
KingRevolver Posted September 18, 2018 Report Share Posted September 18, 2018 Great! Time to make an easy $1,500 :hurray Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.