Investing, Stock Market and Retirement Planning Thread

[NTP66]

While this isn't the highest rate available, I figure since a number of us here have Marcus accounts it was worth posting.

Special promotional CD term: 10-month 5.05% APY
Lock in a fixed rate. Expires 9/15/23. APY may change before CD is opened & funded. $500 minimum.
Source

I think this is worth throwing some cash into, and I'll probably open one right now knowing that I have an Andrews CD about to mature in June. Marcus is one of the few banks that actually allows you to choose your maturity options online, which is a plus. Looking at you dicks, Andrews FCU.

[Beveridge]

Good stuff. Think I'll hop on that.

[DigitalGypsy66]

This sounds interesting, but I've always wondered: what happens at the end of the maturity period? What are the tax implications?

[Dickie Dunn]

You're taxed on income greater than $10.

[NTP66]

Don’t let taxes prevent you from earning money. That’s a short enough term that I don’t think you’ll hurt yourself by finding a higher rate.

[DigitalGypsy66]

Done. Pretty easy to do if you already have a Marcus account, too.

[NTP66]

@DigitalGypsy66: Marcus bumped to 3.90% APY.

[NTP66]

Not bad at all for Apple Card users.

[mac5155]

https://finance.yahoo.com/news/meta-pla ... 02704.html

Wild. Crazy.

[Beveridge]

Ibonds down to 4.3% for the next period of time. Creeping towards worth the 3 month penalty to take out early and put in a CD.

[NTP66]

Ibonds down to 4.3% for the next period of time. Creeping towards worth the 3 month penalty to take out early and put in a CD.

http://eyebonds.info/ibonds/index.html

Remember to wait 3 months post the highest rate before you want to bolt before redeeming. I think mine will dip below that point this fall, so I’m waiting until then.

[willeyeam]

This is wild

[dodint]

"Imagine how much credit card churning a bot could do." -NTP66, probably.

[willeyeam]

Lol

[NTP66]

"Imagine how much credit card churning a bot could do." -NTP66, probably.

Lol @NTP66

But seriously, this could be used to find the best offers available, the best combos, etc. I’ve basically stopped churning the way I had done in the past. I’ve got another year before I churn my CSP, but that’s the only card I’m looking to do that with because the bonus is too good to pass up.

[Beveridge]

I was sold at getting discounts with Comcast.

[mac5155]

Ibonds down to 4.3% for the next period of time. Creeping towards worth the 3 month penalty to take out early and put in a CD.

http://eyebonds.info/ibonds/index.html

Remember to wait 3 months post the highest rate before you want to bolt before redeeming. I think mine will dip below that point this fall, so I’m waiting until then.

If I bought in April 2022 when would I want to dump?

[NTP66]

Ibonds down to 4.3% for the next period of time. Creeping towards worth the 3 month penalty to take out early and put in a CD.

http://eyebonds.info/ibonds/index.html

Remember to wait 3 months post the highest rate before you want to bolt before redeeming. I think mine will dip below that point this fall, so I’m waiting until then.

If I bought in April 2022 when would I want to dump?

I think I have a bookmark saved on my computer with better info, but my plan is to simple wait for the rate to dip below a CD/savings rate, then withdrawal 3 months after then so that the penalty is the lower rate. Really, you just have to pay attention to the rate changes and go from there.

[mac5155]

If you withdrawal at 15 months you get 12 months of interest, right?

[Beveridge]

Yes. You lose 3 months between 1 and 5 years.

[NTP66]

Also, you get full interest on the first day of the month, so no need to wait before withdrawing.

[NTP66]

@mac5155, here's that other link I mentioned: https://eworkpaper.com/ibond.php

[mac5155]

Thanks. Looks like January 2024 is when I want to withdraw. That'd be 3 months into the lower composite rate. Probably just in time for the CD rates to plummet too

[NTP66]

I must admit, this is an enticing offer with that many zeroes.

[NTP66]

Thanks. Looks like January 2024 is when I want to withdraw. That'd be 3 months into the lower composite rate. Probably just in time for the CD rates to plummet too

Just checked my own I-Bonds, and I'll be redeeming them in September and October, unless Marcus's rates drop significantly.