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Carrera911 · 31 March 2018, 03:44 AM

I was checking out CD's earlier today and was surprised to see they climb up to 2.75% APY for a 5 year deposit.
I know 5 years is a lot but still 2.75% is not that bad. What do you guys think would you invest into a 5 year CD today ?

Dan Pierce · 31 March 2018, 04:06 AM

Sorry, that I can't answer. However, my band is releasing a CD in June and that would be a perfect time to buy.

dP

MonBK · 31 March 2018, 04:08 AM

Quote:

Originally Posted by Dan Pierce

Sorry, that I can't answer. However, my band is releasing a CD in June and that would be a perfect time to buy.

dP

Just say the word Dan and I'll buy one.

tyler1980 · 31 March 2018, 04:34 AM

i wouldn't tie money up that long for that amount of return. Id rather make somewhere around 1/2 of that in a savings account if you are going ultra conservative with risk.

Wcdhtwn · 31 March 2018, 05:10 AM

Quote:

Originally Posted by tyler1980

i wouldn't tie money up that long for that amount of return. Id rather make somewhere around 1/2 of that in a savings account if you are going ultra conservative with risk.

What bank has a savings account paying 1.375? I have a savings account at Chase with almost $60K in it and my monthly interest payment is .53. Yes, 53 cents. It’s purpose is an emergency/ rainy day fund so don’t want to tie it up, or move it to my brokerage account where it’s harder to access, but I’d love to get a better rate.

Sent from my iPhone using Tapatalk

tyler1980 · 31 March 2018, 05:27 AM

Quote:

Originally Posted by Wcdhtwn

What bank has a savings account paying 1.375? I have a savings account at Chase with almost $60K in it and my monthly interest payment is .53. Yes, 53 cents. It’s purpose is an emergency/ rainy day fund so don’t want to tie it up, or move it to my brokerage account where it’s harder to access, but I’d love to get a better rate.

Sent from my iPhone using Tapatalk

my AMEX savings account is 1.44%

.brian. · 31 March 2018, 06:03 AM

Quote:

Originally Posted by Wcdhtwn

What bank has a savings account paying 1.375?

https://www.bankrate.com/banking/savings/rates/

imperio · 31 March 2018, 06:52 AM

Quote:

Originally Posted by Wcdhtwn

What bank has a savings account paying 1.375? I have a savings account at Chase with almost $60K in it and my monthly interest payment is .53. Yes, 53 cents. It’s purpose is an emergency/ rainy day fund so don’t want to tie it up, or move it to my brokerage account where it’s harder to access, but I’d love to get a better rate.

Sent from my iPhone using Tapatalk

Discover, Ally, Capital One, the list goes on... I believe theyre currently at 1.5%apy

Gaijin · 1 April 2018, 04:05 AM

Quote:

Originally Posted by Wcdhtwn

What bank has a savings account paying 1.375? I have a savings account at Chase with almost $60K in it and my monthly interest payment is .53. Yes, 53 cents. It’s purpose is an emergency/ rainy day fund so don’t want to tie it up, or move it to my brokerage account where it’s harder to access, but I’d love to get a better rate.

Sent from my iPhone using Tapatalk

I get 1.75 % on my first $ 25,000 and just under 1 % for anything over that. Credit union. To heck with banks.

GradyPhilpott · 31 March 2018, 04:37 AM

Quote:

Originally Posted by Dan Pierce

Sorry, that I can't answer. However, my band is releasing a CD in June and that would be a perfect time to buy.

dP

Make sure you post all the details in June, because I'll buy one for sure.

How much for an autographed one?

bdex75 · 31 March 2018, 04:41 AM

Quote:

Originally Posted by Dan Pierce

Sorry, that I can't answer. However, my band is releasing a CD in June and that would be a perfect time to buy.

dP

Let us know when it is out!!!

As to the OP question, nope. In a rising rate environment I have a feeling you will regret that move.

Sent from my iPhone using Tapatalk Pro

Naples09 · 31 March 2018, 06:39 AM

Quote:

Originally Posted by Dan Pierce

Sorry, that I can't answer. However, my band is releasing a CD in June and that would be a perfect time to buy.

dP

I see a TRF group buy in our future!

Dan Pierce · 31 March 2018, 02:09 PM

Quote:

Originally Posted by Carrera911

I was checking out CD's earlier today and was surprised to see they climb up to 2.75% APY for a 5 year deposit.
I know 5 years is a lot but still 2.75% is not that bad. What do you guys think would you invest into a 5 year CD today ?

My apologies to the OP for the shameless plug. Greedy redirect indeed, sorry.

Quote:

Originally Posted by MonBK

Just say the word Dan and I'll buy one.

Quote:

Originally Posted by GradyPhilpott

Make sure you post all the details in June, because I'll buy one for sure.

How much for an autographed one?

Quote:

Originally Posted by bdex75

Let us know when it is out!!!

As to the OP question, nope. In a rising rate environment I have a feeling you will regret that move.

Sent from my iPhone using Tapatalk Pro

Quote:

Originally Posted by Naples09

I see a TRF group buy in our future!

Thanks, gents!

Really proud of this recording and was thrilled to have a big hand in it's development. Hope to have it released by June, shall keep y'all posted.

dP

Chewbacca · 31 March 2018, 11:02 PM

Quote:

Originally Posted by Dan Pierce

Sorry, that I can't answer. However, my band is releasing a CD in June and that would be a perfect time to buy.

dP

Let us know when dp!!!

Ps: nice thread jacking! Knew you could do it!

Dan Pierce · 1 April 2018, 12:04 AM

Quote:

Originally Posted by Chewbacca

Let us know when dp!!!

Ps: nice thread jacking! Knew you could do it!

Will do, CJ!

Yeah, never waste an opportunity for a shameless plug.

dP

Gaijin · 1 April 2018, 04:01 AM

Quote:

Originally Posted by Dan Pierce

Sorry, that I can't answer. However, my band is releasing a CD in June and that would be a perfect time to buy.

dP

Nice one Dan.

and I will buy your CD if you’ll ship it here?

Dan Pierce · 1 April 2018, 06:00 AM

Quote:

Originally Posted by Gaijin

Nice one Dan.

and I will buy your CD if you’ll ship it here?

Thanks! I'd be happy to ship but we'll have download options as well, your preference.

dP

Gaijin · 1 April 2018, 11:32 AM

Quote:

Originally Posted by Dan Pierce

Thanks! I'd be happy to ship but we'll have download options as well, your preference.

dP

Aaah. Perfect. I think I can figure out how to do that.

AzPaul · 31 March 2018, 04:08 AM

By recent standards, no, not that bad.
But still not a rate to be happy about.
We all have different needs, risk tolerances, etc, so I can only speak for myself, but that number isn't anywhere near the rate I'd be willing to lend them money at.

imperio · 31 March 2018, 04:33 AM

Quote:

Originally Posted by Carrera911

I was checking out CD's earlier today and was surprised to see they climb up to 2.75% APY for a 5 year deposit.
I know 5 years is a lot but still 2.75% is not that bad. What do you guys think would you invest into a 5 year CD today ?

I wouldn't...

Letsgodiving · 31 March 2018, 06:51 AM

I'm currently buying 2 yr CD's. Not much lower than 5 yr rates and doesn't tie the money up too long with rates likely to increase.

77T · 31 March 2018, 06:55 AM

Quote:

Originally Posted by Carrera911

I was checking out CD's earlier today and was surprised to see they climb up to 2.75% APY for a 5 year deposit.
I know 5 years is a lot but still 2.75% is not that bad. What do you guys think would you invest into a 5 year CD today ?

If you want to start now, but are concerned a better rate will come around, and want safety all the while - consider an old-fashioned solution - a CD Ladder system of investing.

https://www.bankrate.com/finance/cd/...-worth-it.aspx

Sent from my iPhone using Tapatalk Pro

JTL31 · 31 March 2018, 07:18 AM

Quote:

Originally Posted by 77T

If you want to start now, but are concerned a better rate will come around, and want safety all the while - consider an old-fashioned solution - a CD Ladder system of investing.

https://www.bankrate.com/finance/cd/...-worth-it.aspx

Sent from my iPhone using Tapatalk Pro

Thanks for the tip! Currently saving cash for next car in a credit union CD.

Semi-related re: banking & financial transactions:
I turn WiFi off on phone & use only cell data ~ safer route to go, even vs. locked home WiFi.

Keadog · 31 March 2018, 07:19 AM

I wouldn't tie up any cash for 5 years right now at anywhere near that low a rate.

JTL31 · 31 March 2018, 07:53 AM

Quote:

Originally Posted by Keadog

I wouldn't tie up any cash for 5 years right now at anywhere near that low a rate.

Any friendly advice to save for teenage driver? The $$ I expect to spend is already there. Should I flip over to a money market for easier access?? Have no clue exactly when a 2nd car will be needed.

snyde · 31 March 2018, 07:25 AM

1 year max. 6 MO CD’s are around 1.5%, so the 1% premium is not worth the extra 4.5 years.

TheVTCGuy · 31 March 2018, 08:06 AM

I don't know much about buying CDs. I just bought a bunch of 8-tracks though.

JTL31 · 1 April 2018, 07:35 AM

Quote:

Originally Posted by TheVTCGuy

I don't know much about buying CDs. I just bought a bunch of 8-tracks though.

I just helped my bro. drop off VHS tapes, record player & old vinyls that nnnnnnoooobody would’ve listened to. Afterwards, we went out for tacos...

djhiram · 31 March 2018, 11:42 AM

Without getting into too much detail about my employer (one of the “big banks”) I’ll give you some info that should help with your decision.

I have been a banker/account executive/branch manager for most of my banking career. Right now if you came in to my bank to open a CD we have 2 promos:

New or existing client bringing in new funds - 13 month CD at 1.60% APY. Minimum deposit 25k

Existing client with existing funds- 19 month CD at 1.60% APY.
Minimum deposit 5k

These are the best promo CDs I have seen at my employer since 2008.

Cost of living goes up roughly 3% every year. If you don’t invest in something that will get you at least that much in return annually then you are just “losing money slowly.” Should you need to close the CD before maturity, there is often a penalty involved which surpasses the amount of interest you would have earned had you not closed the CD and carried it out to full term. Chose wisely.

My personal opinion is 5 years is way too much for a CD. Better off investing in some high grade corporate bonds. Better rate of return (of course that only applies if you again carry it out to the full term.). The bonds tend to fluctuate (as any investment) but if you don’t panic and stay put, you should do much better than that CD you were looking at. You can sell the bond at any time with no penalties as opposed to the CD.

I give that same advice to all my clients. CDs are “safe” but there are better options if you truly plan on not using that money for 5 years. Just my 2 cents as a banker.

That being said there is plenty of good advice on here already. Shop around and don’t be in a hurry. And most importantly of all, make sure you fully understand the product before you jump in.

Best of luck.

Gaijin · 1 April 2018, 04:11 AM

Quote:

Originally Posted by djhiram

Without getting into too much detail about my employer (one of the “big banks”) I’ll give you some info that should help with your decision.

I have been a banker/account executive/branch manager for most of my banking career. Right now if you came in to my bank to open a CD we have 2 promos:

New or existing client bringing in new funds - 13 month CD at 1.60% APY. Minimum deposit 25k

Existing client with existing funds- 19 month CD at 1.60% APY.
Minimum deposit 5k

These are the best promo CDs I have seen at my employer since 2008.

Cost of living goes up roughly 3% every year. If you don’t invest in something that will get you at least that much in return annually then you are just “losing money slowly.” Should you need to close the CD before maturity, there is often a penalty involved which surpasses the amount of interest you would have earned had you not closed the CD and carried it out to full term. Chose wisely.

My personal opinion is 5 years is way too much for a CD. Better off investing in some high grade corporate bonds. Better rate of return (of course that only applies if you again carry it out to the full term.). The bonds tend to fluctuate (as any investment) but if you don’t panic and stay put, you should do much better than that CD you were looking at. You can sell the bond at any time with no penalties as opposed to the CD.

I give that same advice to all my clients. CDs are “safe” but there are better options if you truly plan on not using that money for 5 years. Just my 2 cents as a banker.

That being said there is plenty of good advice on here already. Shop around and don’t be in a hurry. And most importantly of all, make sure you fully understand the product before you jump in.

Best of luck.

Hiram do you see savings rates going up as the Feds raise rates?

Seems like banks always raise the borrowing rates i.e. mortgage, new and used car loans , credit card interest during these Fed meeting .25 bump ups , but no benefit to savers..

31 March 2018, 03:44 AM	#1
Carrera911 "TRF" Member Join Date: Jan 2016 Location: Odessa, FL Watch: Bluesy (126613LB) Posts: 570	Is it a good time to buy CD (Certificate Deposits)? I was checking out CD's earlier today and was surprised to see they climb up to 2.75% APY for a 5 year deposit. I know 5 years is a lot but still 2.75% is not that bad. What do you guys think would you invest into a 5 year CD today ? __________________ Time is the only thing standing between me and the throne ♛

31 March 2018, 04:06 AM	#2
Dan Pierce 2024 Pledge Member Join Date: Dec 2006 Real Name: D'OH! Location: Kentucky Watch: Rolex-1 Tudor-3 Posts: 36,216	Sorry, that I can't answer. However, my band is releasing a CD in June and that would be a perfect time to buy. dP __________________ TRF Member# 1668 Bass Player in TRF "AFTER DARK" Bar & NightClub Band Commander-in-Chief of The Nylon Nation The Crown & Shield Club Honorary Member of P-Club

31 March 2018, 04:34 AM	#4
tyler1980 "TRF" Member Join Date: Apr 2015 Location: Houston Posts: 17,622	i wouldn't tie money up that long for that amount of return. Id rather make somewhere around 1/2 of that in a savings account if you are going ultra conservative with risk. __________________ Instagram: tyler.watches current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition)

31 March 2018, 04:08 AM	#19
AzPaul 2024 ROLEX SUBMARINER 41 Pledge Member Join Date: May 2012 Real Name: Paul Location: Tucson, Az Watch: Rolex 1501 Posts: 13,895	By recent standards, no, not that bad. But still not a rate to be happy about. We all have different needs, risk tolerances, etc, so I can only speak for myself, but that number isn't anywhere near the rate I'd be willing to lend them money at. __________________ Ain't much of a crime, whacking a surly bartender

31 March 2018, 06:51 AM	#21
Letsgodiving "TRF" Member Join Date: Jul 2007 Real Name: Mike Location: Virginia, US Watch: SD 16600 Posts: 4,319	I'm currently buying 2 yr CD's. Not much lower than 5 yr rates and doesn't tie the money up too long with rates likely to increase. __________________ The fool, with all his other faults, has this also - he is always getting ready to live. - Epicurus (341–270 BC)

31 March 2018, 07:19 AM	#24
Keadog "TRF" Member Join Date: Jan 2018 Location: USA Posts: 358	I wouldn't tie up any cash for 5 years right now at anywhere near that low a rate.

31 March 2018, 07:25 AM	#26
snyde "TRF" Member Join Date: Jan 2016 Location: Austin Posts: 563	1 year max. 6 MO CD’s are around 1.5%, so the 1% premium is not worth the extra 4.5 years.

31 March 2018, 08:06 AM	#27
TheVTCGuy Banned Join Date: Jul 2008 Real Name: Paul Location: San Diego Watch: 126619LB Posts: 21,540	I don't know much about buying CDs. I just bought a bunch of 8-tracks though.

31 March 2018, 11:42 AM	#29
djhiram Banned Join Date: May 2009 Real Name: Hiram Location: Miami, FL Watch: 16600 Sea Dweller Posts: 1,233	Without getting into too much detail about my employer (one of the “big banks”) I’ll give you some info that should help with your decision. I have been a banker/account executive/branch manager for most of my banking career. Right now if you came in to my bank to open a CD we have 2 promos: New or existing client bringing in new funds - 13 month CD at 1.60% APY. Minimum deposit 25k Existing client with existing funds- 19 month CD at 1.60% APY. Minimum deposit 5k These are the best promo CDs I have seen at my employer since 2008. Cost of living goes up roughly 3% every year. If you don’t invest in something that will get you at least that much in return annually then you are just “losing money slowly.” Should you need to close the CD before maturity, there is often a penalty involved which surpasses the amount of interest you would have earned had you not closed the CD and carried it out to full term. Chose wisely. My personal opinion is 5 years is way too much for a CD. Better off investing in some high grade corporate bonds. Better rate of return (of course that only applies if you again carry it out to the full term.). The bonds tend to fluctuate (as any investment) but if you don’t panic and stay put, you should do much better than that CD you were looking at. You can sell the bond at any time with no penalties as opposed to the CD. I give that same advice to all my clients. CDs are “safe” but there are better options if you truly plan on not using that money for 5 years. Just my 2 cents as a banker. That being said there is plenty of good advice on here already. Shop around and don’t be in a hurry. And most importantly of all, make sure you fully understand the product before you jump in. Best of luck.

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