Anyone investing heavily this year??
- Thread starter rph2005
- Start date
I keep some cash in the M1 Spend Account, so I'm assuming I can just move that to this new one?
Earn that interest! I would also check out T-Bills (4-week, 8-week, 17-week), returns are near/above 5%... State tax exempt on new issues.
Not even sure. I just got an email saying this is being rolled out next month. I think you have to be a m1 plus member also.
Yeah that sounds like a better move. Thanks
There are pros/cons to both.
I'm unfamiliar with the M1 savings, but from what I can see in the fine print, there something about an M1 subscription. The rate can change up/down depending on the fed funds rate, which is a given for most rates. No minimum is nice though. Taxes, which aren't my wheel house, may apply at both state and federal level.
T-Bills on your Brokerage: must invest in increments of $1K (on Treasurydirect.com, it's increments of $100). Not as liquid as cash (like this savings account), but you can sell your t-bills in the secondary market. Obviously, you'd have to lock up your money for the specific period to see the entire return. No state taxes on new issues (only federal). Backed by the US gov, though if they fuck up this debt ceiling thing all bets are off (treasuries, savings accounts...it won't matter if our Moody/Fitch credit rating takes a hit).
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Thanks for the heads up.. yea I'ma plus member, so hoping it's seamless and automatic. This would be a nice added benefit that I would use.
How do you like being a member? Ive been going back and forth for several months.
I couldn't remember what made me join in the first so actually just went back and checked the benefits.. I think at the time they were offering it free for a year and gives you more trading windows (morning + afternoon) and a higher savings rate. I guess it still works for me (for now).
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Texas electric vehicle drivers could soon be required to pay an annual $200 fee to register their cars.
The state legislature on Thursday passed Senate Bill 505 with unanimous support, sending the bill to Gov. Gregg Abbott's desk for his signature, which would make it law in Texas.
Republican state Sen. Robert Nichols, who sponsored the legislation, said an additional electric vehicle fee is necessary because EV drivers don't pay gas taxes when they fuel their vehicles.
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Texas electric vehicle drivers could soon be required to pay an annual $200 fee to register their cars.
The state legislature on Thursday passed Senate Bill 505 with unanimous support, sending the bill to Gov. Gregg Abbott's desk for his signature, which would make it law in Texas.
Republican state Sen. Robert Nichols, who sponsored the legislation, said an additional electric vehicle fee is necessary because EV drivers don't pay gas taxes when they fuel their vehicles.
"As more of these vehicles drive on Texas roads, there are concerns about how they contribute to the funding of the roads which they use," Nichols wrote in a statement of intent when filing the bill. "Currently, Texas uses the gasoline/diesel fuel tax to fund transportation projects; however, with the growing use of EVs, the revenue from the fuel tax is decreasing, which diminishes our ability to fund road improvements for all drivers
Been moving around some money of late.
- Re-invested 150,000 from recently matured GICs
- Contributed to TFSA account (max = 6500) and to RRSP portfolio (only a few thousand - wanted to contribute more, but the pension adjustment cuts into your available room; MPP - Municipal Pension Plan)
- Have 113,000 maturing in late-June, and 28,000 which matured recently ... going to decide what to do with that 140k+ come the end of June
- Have 87,000 in a TFSA account that matures in September ... gonna see where to place that in the fall. TFSA = Tax-Free Savings Account (you can place your money wherever you want)
- Have another 150,000 in GICs maturing between late-August to early-Oct ...
- Re-invested 150,000 from recently matured GICs
- Contributed to TFSA account (max = 6500) and to RRSP portfolio (only a few thousand - wanted to contribute more, but the pension adjustment cuts into your available room; MPP - Municipal Pension Plan)
- Have 113,000 maturing in late-June, and 28,000 which matured recently ... going to decide what to do with that 140k+ come the end of June
- Have 87,000 in a TFSA account that matures in September ... gonna see where to place that in the fall. TFSA = Tax-Free Savings Account (you can place your money wherever you want)
- Have another 150,000 in GICs maturing between late-August to early-Oct ...
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I have, but plan on discontinuing this fall. Don't really need their assistance anymore. I deal with CIBC Wood Gundy in Canada. My mom encouraged me to start getting into the habit of contributing to an RRSP back in 2000 when I was a broke college student. RRSP = registered retirement savings plan / portfolio. The bulk of my contributions were after 2009 though. Early-2000s = student / 2004 - 2009 = working like crazy and saving for a down payment. Back in the mid-2000s we had a matching RRSP plan through work. That was with CIBC Securities. But regarding the financial advising ... they helped me when I was getting into mutual funds / stocks and able to max out my RRSP contribution more. But with our pension plan at work now ... it cuts into your available retirement contribution room, so the transactions are less now and I'm able to move money around with my other investments elsewhere (outside of CIBC).
Seems like the company you mentioned, Facet, charge a fair bit. Do they have good customer ratings and reviews?
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Yeah I filled out a form on a website called SmartAsset and they will match you with fiduciary financial planner. Yeah that flat fee does seems like a lot and they been calling me everyday which is an automatic turn off.
B.C. senior defrauded of $7.5M in crypto scam, police say
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Good point about the daily calls being a turn-off already.
Side note ... how are you liking your new place?
all these high yield accounts has me feeling like something dark and horrible is coming soon.. everyone is offering high yield savings accounts soon mcdonalds and walmart will be offering 5% yields.. something terrible is coming... RIP USA dollar
bitcoin is the best option... discover is offering 4.25% CD with $2500 minimum
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Dope .. I'm tryna get my weight up and have shit tiered like this eventually
Is it as complicated as it sounds or does everything kind of fall into a natural timeline, as far as checking your accounts and taking advantage of windows to reallocate?
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Dope .. I'm tryna get my weight up and have shit tiered like this eventually
Is it as complicated as it sounds or does everything kind of fall into a naturally timeline, as far as checking your accounts and taking advantage of windows to reallocate?
Thanks.
When I was dealing with the financial adviser they encouraged stuff like Science & Tech, Education, and Agriculture. It was primarily 90% medium risk / 10% high risk.
With my GIC investments ... I had a few hundred thousand that wasn't yielding too much. Didn't want to lock things in until interest rates improved, so once they did I felt more comfortable. Fortunately the rates on 1-year investments have actually been better than the 3- and 5-year plans from years past. Stuff I was used to ... and back in the 2000s or 2010s I remember the standard 3-year terms were along the lines of 2.25 / 5 / 7%. Talked to my dad and grandparents and they told me about the days WAY back when you could get well over 10%. So with these 1-year GICs now ... just printing stuff off / highlighting things / marking them on the calendar.
Left myself a note the other day to email the adviser in May regarding the RRSP stuff maturing in late-June (28,000 already matured and an additional 113,000 + the earned interest at that time).
Got an income tax refund last Monday ... put that towards one of the recent GIC purchases.
The rate situation seems like the same thing all the finance folks are talking about lately in regards to bonds too... and your fam's comments mirror what bond yields were like back in the early 80s, IIRC
The rate situation seems like the same thing all the finance folks are talking about lately in regards to bonds... and your fam's comments mirror what bond yields were like back in the early 80s, IIRC
Indeed. When I was working like mad from 2004 - 2009 ... I was trying to save up a huge downpayment and was able to live off the interest and not touch my income much. I couldn't lock up the investments too long though as I needed the money available for the 1st quarter of 2009.
Yeah ... some of those rates were 80s-based. I think you're spot on with that.
One of the cool things my grandma would do back in the day (she passed in 2008) is in the 90s and early-2000s she would just randomly buy people CSBs (Canada Savings Bonds) as gifts. Or say it was someone's birthday ... she'd buy you one and put a bit extra in there (another 200 - 300), and tell you it would be maturing way down the line ... many years from now. I don't recall the duration of them off the top of my head, but say they were 5 - 10 years. It would be a nice surprise redeeming them & seeing how much more they were worth. The rates were quite good. I think the last one I redeemed was probably somewhere around 2004 - 2006. Somewhere around there.