Certificats of Deposit

[NoTrespassing]

I thought the Fed recently indicated they don't think they have gone far enough to curb inflation. I do think we have neared peak APY for CDs

Yea, that was a few days ago before the CPI report.

 

[CloverKnollFarms]

Are they including new health premiums?

 

[dfkrug]

Treasury direct can be handled without a brokerage account, but it's like changing your own oil without a lift, versus having a dealer do it for the cost of the oil.
On the other hand with my brokerage accounts they kept changing names and owners over the years.
It's unlikely Treasury Direct will be bought out.

Well-put, Newb

Gone are the zero interest rates of the last decade, thankfully. Our economy has really been distorted by the easy money, thx to the FED.

I used to have a Treasury-Direct acct, but using my brokerage is way easier. I participate in new T-bill auctions at no cost, and they are state tax exempt if not in an IRA acct. That makes them a way better deal since 6mo-1y Bills pay about the same as CDs, but will be taxed in states like mine.

Also, brokerage accts now allow for very easy purchase and sale of CDs, just like you would bonds. I buy new issue CDs, currently about 5.5% for 1y. If you sell them on the secondary market, you can free up your money any time, tho there will be a fee.

My NYC-based broker was acquired by Accutrade, then TDAmeritrade, then Schwab. So I hear ya. No problems.

If anyone has a Health Savings Acct, Fidelity Investments allows you to invest it, while many (most?) other brokers and institutions do not. My Credit Union would only pay 0.4% interest on HSAs! I transferred my HSA to Fidelity when I stopped contributing due to age.

Many folks just hate financial stuff, so they like to hire it out. I suppose you can do the same for anything you hate to do (clean house, mow the lawn, wash the car, etc.). The big difference with your own finances is no one has as much motivation to do it right as you do.

 

[RSKY]

If y'all had taken my advice on Monday and bought that Fidelity mutual fund, would have taken a little investigation on your part, it went up about 5-6% today.

Of course it still likes quite a bit getting to where I bought it.

Anyway, I am up 40% of the loss that I've had since the start of September.

You don't actually loose until you sell.

RSKY

 

[NoTrespassing]

Just realized I left out an E in certificates in the thread title, that's gonna bug me for awhile

 

[dfkrug]

Just realized I left out an E in certificates in the thread title, that's gonna bug me for awhile

It would bother me, too. Ask a moderator, and he/she will fix it.

 

[needmoredirt]

Ah, certificates of deprecation...

 

[kenmac]

I use a high yield savings account instead of CD's

 

[ultrarunner]

Just closed an account where the CD had matured and was told I could keep the same rate in a high yield account...

A month went by and didn't see the rate so I went back and was told that high yield was for new funds only... not what I was told and still have on a text message.

I said ok... I would like to make a withdrawal and then learned it now costs $6 for the bank check so I said cash and told 7 days to order cash so I said let's keep it simple and close so no fee for check...

I really don't understand banks...

 

[grsthegreat]

Very odd. I have a sizable CD that matures next wednesday. Bank called me and they will roll it into another 18 month at 4.5%. I dont need the funds at this time.

their high interest acct is at 3%, but require 3 deposits and so many withdrawls per month. Not into games. With cd i dont have to do anything.