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Investors: how are you feeling about CD rates these days?
Posted by: Ammo
Date: September 28, 2022 11:54AM
As a way to reduce (not replace) losses in IRA cash accounts.

First National Bank of America is paying 4.1% on a 1 year CD, 3.95% for 9 months.



Where is there dignity unless there is also honesty? - Cicero
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Re: Investors: how are you feeling about CD rates these days?
Posted by: gadje
Date: September 28, 2022 12:30PM
I Bonds. 9.6%
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Re: Investors: how are you feeling about CD rates these days?
Posted by: SDGuy
Date: September 28, 2022 12:43PM
Quote
gadje
I Bonds. 9.6%

agree smiley
but limited to $10K/year

For short-term investments, T-Bills have been paying on-par with CD rates, with the added benefit of no State Taxes (depending on your local State tax policy, I assume):
4-Week: 2.66%
13-week: 3.27%
26-week: 3.85%



Edited 1 time(s). Last edit at 09/28/2022 12:47PM by SDGuy.
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Re: Investors: how are you feeling about CD rates these days?
Posted by: DeusxMac
Date: September 28, 2022 01:21PM
Quote
gadje
I Bonds. 9.6%

agree smiley

[www.treasurydirect.gov]



Edited 1 time(s). Last edit at 09/28/2022 01:21PM by DeusxMac.
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Re: Investors: how are you feeling about CD rates these days?
Posted by: Ammo
Date: September 28, 2022 01:54PM
I-Bonds are great, but limited to $10,000 total per year. What about CDs for larger amounts of money?



Where is there dignity unless there is also honesty? - Cicero
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Re: Investors: how are you feeling about CD rates these days?
Posted by: ztirffritz
Date: September 28, 2022 02:41PM
Is the interest on I-bonds taxed just like any other income?



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Re: Investors: how are you feeling about CD rates these days?
Posted by: PeterW
Date: September 28, 2022 02:59PM
Yes, but only at the Federal level. No state or local taxation.
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Re: Investors: how are you feeling about CD rates these days?
Posted by: AllGold
Date: September 28, 2022 03:38PM
Annuities. Fixed-indexed or simple fixed. Unlike CDs, they are tax deferred.
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Re: Investors: how are you feeling about CD rates these days?
Posted by: gadje
Date: September 28, 2022 04:40PM
Quote
AllGold
Annuities. Fixed-indexed or simple fixed. Unlike CDs, they are tax deferred.

You sell those, right? Do you have an interest in selling more annuities?
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Re: Investors: how are you feeling about CD rates these days?
Posted by: gadje
Date: September 28, 2022 04:47PM
[www.youtube.com]
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Re: Investors: how are you feeling about CD rates these days?
Posted by: testcase
Date: September 28, 2022 05:17PM
CD rates at my Credit Union are abysmal. angry villagers smiley
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Re: Investors: how are you feeling about CD rates these days?
Posted by: Paul F.
Date: September 28, 2022 05:37PM
Quote
testcase
CD rates at my Credit Union are abysmal. angry villagers smiley

I love Credit Unions for a lot of things... earning interest on my money is NOT one of them, however.



Paul F.
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A sword never kills anybody; it is a tool in the killer's hand. - Lucius Annaeus Seneca c. 5 BC - 65 AD
----
Good is the enemy of Excellent. Talent is not necessary for Excellence.
Persistence is necessary for Excellence. And Persistence is a Decision.

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Eureka, CA
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Re: Investors: how are you feeling about CD rates these days?
Posted by: Speedy
Date: September 28, 2022 09:54PM
I dumped a large sum into my Robinhood brokerage account and they swept it into a bank (FDIC) paying 3%. I can invest it like it was cash in my brokerage account on Robinhood’s books (but for now I’m staying out of equities). I pay Robinhood $5/month for the privilege. I can get the cash into my local bank in about five days if I need it which I may as we are planning to help our daughter buy a house.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: Investors: how are you feeling about CD rates these days?
Posted by: NewtonMP2100
Date: September 29, 2022 08:26AM
…like tape cassette rates…..



_____________________________________

I reject your reality and substitute my own!
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Re: Investors: how are you feeling about CD rates these days?
Posted by: Michael
Date: September 29, 2022 10:06AM
If you generally invest as a couple each person can buy $10,000 in iBonds per year. Also, you can have up to $5000 in a tax refund come as iBonds per year (per return, not per person). We haven't done that since I don't really trust the IRS to do that in a timely way in today's time.
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Re: Investors: how are you feeling about CD rates these days?
Posted by: Wags
Date: September 29, 2022 07:30PM
Quote
Michael
If you generally invest as a couple each person can buy $10,000 in iBonds per year. Also, you can have up to $5000 in a tax refund come as iBonds per year (per return, not per person). We haven't done that since I don't really trust the IRS to do that in a timely way in today's time.

I had switched banks since the last time I got ibonds. Used to be easy to switch banks with them online. Now you have to print out a form, get it signed and stamped at the bank, then mail it in and wait about six weeks.
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Re: Investors: how are you feeling about CD rates these days?
Posted by: AllGold
Date: September 29, 2022 10:49PM
Quote
gadje
Quote
AllGold
Annuities. Fixed-indexed or simple fixed. Unlike CDs, they are tax deferred.

You sell those, right? Do you have an interest in selling more annuities?

Not really, plus I'm probably not licensed in [whatever your state is] state.

Dave Ramsey makes a valid point about an annuity being inappropriate within an already tax deferred retirement account, but otherwise, him saying an annuity is NEVER the answer is just silly.

A fixed annuity can be a good alternative to a CD if the rate is favorable. Either way, you should only be buying a CD or annuity with money you're not going to need for a while.
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Re: Investors: how are you feeling about CD rates these days?
Posted by: gadje
Date: September 30, 2022 06:19AM
Quote
AllGold
Quote
gadje
Quote
AllGold
Annuities. Fixed-indexed or simple fixed. Unlike CDs, they are tax deferred.

You sell those, right? Do you have an interest in selling more annuities?

Not really, plus I'm probably not licensed in [whatever your state is] state.

Dave Ramsey makes a valid point about an annuity being inappropriate within an already tax deferred retirement account, but otherwise, him saying an annuity is NEVER the answer is just silly.

A fixed annuity can be a good alternative to a CD if the rate is favorable. Either way, you should only be buying a CD or annuity with money you're not going to need for a while.

Thanks for the clarification!
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Re: Investors: how are you feeling about CD rates these days?
Posted by: Michael
Date: September 30, 2022 03:18PM
Quote
Wags
Quote
Michael
If you generally invest as a couple each person can buy $10,000 in iBonds per year. Also, you can have up to $5000 in a tax refund come as iBonds per year (per return, not per person). We haven't done that since I don't really trust the IRS to do that in a timely way in today's time.

I had switched banks since the last time I got ibonds. Used to be easy to switch banks with them online. Now you have to print out a form, get it signed and stamped at the bank, then mail it in and wait about six weeks.

Thanks for that info. We've been banking at Wells for a long time. I know they're sketchy as can be and I've considered changing banks. But it's a major hassle so I haven't. This just adds to it.
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