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ECON What is the best cd rate in your area?
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  1. #1
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    What is the best cd rate in your area?

    My local rates are low. I was wondering about your cd rates.

  2. #2
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    I can get 'em around 5 for $10.00 at the local Walmart bargain bins...
    Deo adjuvante non timendum - With God Helping, Nothing is to be Feared
    "You are like a pit-bull..." - Dennis Olson
    "No man knows but that the last backward glance over his shoulder may be his last look, forever." - Ernie Pyle Born: 1900 KIA: 1945 Shima, Okinawa

  3. #3
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    And don't get me started on DVD rates...again Walmart has the best...
    A socialist will trample over one hundred poor people just for the chance to throw a rock at a rich man.

  4. #4
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    Heh....you mean certificates of depreciation? Not even paying the current Federal Funds Rate.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  5. #5
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    Around 2-1/2% here.
    Or up to the same here.....................
    https://www.capitalone.com/bank/cds/online-cds/

    I would rather just hold the cash.

  6. #6
    Bankrate.com has the current rates of the big banks.

  7. #7
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    You didn't mention the term you are interested in or which state you live in. So there are variables in giving you an answer.

    Someone above me mentioned the bankrate website to give you some idea on rates from the bigger cd sellers. In my AO cd rates suck as all the banks have to much cash so they are not looking to raise more. They actually said this

    If you live in a state with a state income tax you might be better off with buying treasuries -vs- buying cd's. In Ga where I live I would lose 6% of the cd interest just by paying the state tax. Thus for similar rates the treasuries work out better since there is no state income tax paid on treasury interest. And treasuries can be bought directly from the gov or commission free from most brokerages.

    Interest rates have been dropping and the curve inverting with the shorter terms paying more then the longer terms. Currently the 1 and 2 month treasuries pays more then everything up to and including the 10 year. The only thing paying higher is the 20 and 30 year terms. Something is going on which is causing the prices to go up and the yields to drop. This kind of means that there is more money wanting to go into treasuries then bonds available for sale. Its hard to say where this additional cash is coming from as the stock market is still at its highs so it doesn't seem to be a rotation from stocks to bonds. So this is big money being moved.

    Why is this important because you do not want to buy a treasury or cd with too long of a term which could lock you into a lower rate. I'm fond of 6 month terms but anything less then a year is ok IMO.

    tbd

  8. #8
    For a 1-2 yr CD here in OR at a local bank rates are pretty measly. I watch for specials in the low 2+% range. About 6 months ago i saw one that was actually 3.2%! The specials have come down since then as have all rates. The national online banks are better of course. But if you want a good CD rate at your local bank, it pays to watch for ads and promotions.

  9. #9
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    Used to be EverBank, now called TIAABank - https://www.tiaabank.com/?referID=14...YBtg&gclsrc=ds
    The wonder of our time isnt how angry we are at politics and politicians; its how little weve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  10. #10
    oday's 1-year CD rate:
    1.43 %
    Current rates in Missouri are 1.43% for a 1-year CD, 1.49% for a 2-year CD, and 1.89% for a 5-year CD
    Thoughts are things. Thus I'm careful of the thoughts I think, & the company I keep.
    I myself am entirely made of flaws, stiched together with good intentions.
    MOON~> all in the ignorant opinion of an uneducated slip of a woman who keeps forgetting to mind her manners, know her place and bow down to her betters

  11. #11
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    Why would anyone tie up their money for such a lousy return. On second thought, why would anyone keep money in a bank in the first place!

  12. #12
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    Quote Originally Posted by billet View Post
    Why would anyone tie up their money for such a lousy return. On second thought, why would anyone keep money in a bank in the first place!
    So please tell us dear billet where you keep your assets you want to keep liquid

    tbd

  13. #13
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    Quote Originally Posted by poppy View Post
    Bankrate.com has the current rates of the big banks.
    thank you!
    People are quick to confuse and despise confidence as arrogance but that is common amongst those who have never accomplished anything in their lives and who have always played it safe not willing to risk failure.

  14. #14
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    Quote Originally Posted by twobarkingdogs View Post
    So please tell us dear billet where you keep your assets you want to keep liquid

    tbd

    In my safe. It’s not return on principal today but return of principal.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  15. #15
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    Quote Originally Posted by Hfcomms View Post
    In my safe. It’s not return on principal today but return of principal.
    While I agree and keep spare cash in my safe I can't pay my bills out of my safe. Thus I keep liquid assets in the bank or rather for me in my brokerage account invested in treasuries. But you see I follow the rule that you should have a least a couple of years worth of liquid assets available to cover your expenses to cover the unexpected like a job loss, if the stock market tanks or a abnormally large expense.

    And a cd paying 2% is a lot better then a savings account paying 0.25%

    tbd

  16. #16
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    Quote Originally Posted by Hfcomms View Post
    In my safe. It’s not return on principal today but return of principal.
    I think he wants to know as someone with more than $500 - $1000 of liquid assets.
    ...Rubbin' is Racin'......

  17. #17
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    I get 3.2% on my checking account. Of course that is limited to the first $25K. CD's - not so much, with around 2.15% being the tops for a 15 month term.

    RR
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  18. #18
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    Quote Originally Posted by Racing22 View Post
    I think he wants to know as someone with more than $500 - $1000 of liquid assets.
    Nice little dig there, feel superior now? I only keep 1K of cash in my safe as I have little use for it. I keep about 1000 ounces of silver and 20 of gold in that safe that is very liquid and I can get my hands on it quickly. Other assets take more time as they are not kept at home and are not as liquid. For others whose monthly expenses are higher they might want 5K of cash or more in their safe. The dollar is losing value daily and the cash in your safe is losing value daily so why would you want to keep more on hand than what you would need for short term disruptions? Gold is holding its value over time and cash is not. That is why I personally hold gold (and silver) and not cash. You put value in pieces of paper with pictures of dead Presidents backed by nothing. The choice is yours and mine on what to value.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  19. #19
    The entire financial system in the US is based on debt slavery. The government and corporations need people spending money, not saving money. They had to destroy interest rates so people could afford to take on a higher debt load so they could spend more on cars, homes, etc.. Additionally, they know that by trashing interest rates, people would rather risk their money in the market than go into the safety of CDs paying next to nothing.

    Brokered CD rates are right around 2% for anything three to six months in length. I've viewed prices on both TD Ameritrade and Vanguard and they were similar yields.

    Quote Originally Posted by twobarkingdogs View Post
    If you live in a state with a state income tax you might be better off with buying treasuries -vs- buying cd's. In Ga where I live I would lose 6% of the cd interest just by paying the state tax. Thus for similar rates the treasuries work out better since there is no state income tax paid on treasury interest. And treasuries can be bought directly from the gov or commission free from most brokerages. ... Interest rates have been dropping and the curve inverting with the shorter terms paying more then the longer terms. Currently the 1 and 2 month treasuries pays more then everything up to and including the 10 year. ... Why is this important because you do not want to buy a treasury or cd with too long of a term which could lock you into a lower rate. I'm fond of 6 month terms but anything less then a year is ok IMO.
    This is actually some good advice. I've never looked into treasuries but I just checked on my brokers website. The shortest length treasury bill term they offer is six months. Looks like current yields are at 2%. Since CD rates are the same, I might start looking at going this route instead.

    If you want a somewhat higher return, you could consider corporate bond offerings. I'm not fond of ETFs/mutual funds that offer these products because the underlying price of the ETF or the NAV of the mutual fund usually swings up and down by $10 or so. Buying the bond directly would make more sense and the only risk is if the company is going to go bankrupt.

  20. #20
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    What do they say is the risk component of rates...?
    They lie.
    MGTOW
    Resist Or Submit.
    It is too late, for words...

    ______Resistor
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  21. #21
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    Quote Originally Posted by Ravekid View Post

    If you want a somewhat higher return, you could consider corporate bond offerings. I'm not fond of ETFs/mutual funds that offer these products because the underlying price of the ETF or the NAV of the mutual fund usually swings up and down by $10 or so. Buying the bond directly would make more sense and the only risk is if the company is going to go bankrupt.
    I have looked at corp bonds and a couple of things have always turned me off of them. First schwab my broker charges a commission to buy and sell which isn't as big a deal but it does eat into the overall yield. Second on shorter terms which is all I buy the yield is about equal to treasuries, less when commission on buy and income taxes is taken into account.

    I like to own multiple bonds in a ladder having one mature every week or so to allow me to have access to the cash if needed. If its not needed I then buy another bond keeping the ladder going. The next time I buy a bond which will be this friday the maturity date will be some time in november. Schwab also allows the purchase for treasuries to be as little as $1k I believe, in 1k multiples, so this is something you can start small on and work your way up.

    Beware of bond funds as there are at least 2 types of risk. One is interest rate risk which is as rates risk the value of the bond falls and you will lose principal. But in a falling rate environment, like now, bond prices rise and you gain principal so fund returns looks good at the moment, last couple of months. Next though is market risk in that if the market falls folks may not want to buy the fund you are selling at a fair price and thus you may have to take a loss to get out. Panics are not a good time to sell assets

    tbd

  22. #22
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    Quote Originally Posted by ivantherussian03 View Post
    My local rates are low. I was wondering about your cd rates.
    Fidelity 2.3% for 3 month CDs, 2.4% for 6 month CDs.
    Not worth it to go for the longer terms. Recommend laddering instead so money is not tied up long term.
    I live in Florida so no state income tax.
    I never saw a wild thing sorry for itself. A small bird will drop frozen dead from a bough without ever having felt sorry for itself.
    D. H. Lawrence

  23. #23
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    Also never be to deep into any one investment strategy.
    Of course that depends on what financial level you are at.

    If you are barely scraping by, then all this is meaningless. You need to adjust your lifestyle so you spend less than you make, no matter how little that is.
    Having 3 to 6 months emergency fund and living expenses will make your life a hell of a lot more stable and trouble free.

    Once you have over 50K in the bank it's time to look at CDs.
    Once you have over 100K in the bank it's time to look at some mutual funds at online brokerages such as Fidelity or Vanguard or TD. Maybe index type if you're young or targeted retirement date if you're older.
    Somewhere around the same time you could also look at buying some PMs. Possibly small amounts on a regular basis. I buy mine from a local business, for cash, no checks or credit cards. Silver a roll at a time. Gold, one coin at a time. Don't get bitten by the gold bug.

    Keep track of your banks financial health. Bankrate dot com rates just about every bank and credit union's financial situation and health.

    Once you're over 100K in a bank, it's time to look at diversifying to another bank. Pay attention to interest rates and financial health this time instead of just convenience and location.
    2 banks should be adequate for most people.
    Same with brokerage firms.
    Financial diversification is good, but keep it reasonable so you can stay on top of everything.

    To those who sneer at the dollar, remember that you need it to live. You can't go to the store with gold and silver without first converting it into currency.
    Yeah it would be nice if the currency was tied to gold, but it isn't and won't be. Get over it.
    Sneering at the dollar is like sneering at the air we breath. It might be dirty and polluted but you can't live without it. So learn to live with it and not only survive but thrive.

    Again, none of this means a damn thing if you spend more than you make.
    Your goal is to have enough money coming in from your savings and investments that you no longer have to work for a living. You can, but you no longer have to.
    Last edited by TerryK; 06-24-2019 at 04:27 PM.
    I never saw a wild thing sorry for itself. A small bird will drop frozen dead from a bough without ever having felt sorry for itself.
    D. H. Lawrence

  24. #24
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    RISK vs RETURN

    If the return is zero or less (factoring in taxes and inflation), what should the risk be?
    The wonder of our time isnt how angry we are at politics and politicians; its how little weve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  25. #25
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    Quote Originally Posted by TerryK View Post
    Also never be to deep into any one investment strategy.
    Of course that depends on what financial level you are at.

    If you are barely scraping by, then all this is meaningless. You need to adjust your lifestyle so you spend less than you make, no matter how little that is.
    Having 3 to 6 months emergency fund and living expenses will make your life a hell of a lot more stable and trouble free.

    Once you have over 50K in the bank it's time to look at CDs.
    Once you have over 100K in the bank it's time to look at some mutual funds at online brokerages such as Fidelity or Vanguard or TD. Maybe index type if you're young or targeted retirement date if you're older.
    Some where around the same time you could also look at buying some PMs. Possibly small amounts on a regular basis. I buy mine from a local business, for cash, no checks or credit cards. Silver a roll at a time. Gold, one coin at a time. Don't get bitten by the gold bug.

    Keep track of your banks financial health. Bankrate dot com rates just about every bank and credit union's financial situation and health.

    Once you're over 100K in a bank, it's time to look at diversifying to another banks. Pay attention to interest rates and financial health this time instead of just convenience and location.
    2 banks should be adequate for most people.
    Same with brokerage firms.
    Financial diversification is good, but keep it reasonable so you can stay on top of everything.

    To those who sneer at the dollar, remember that you need it to live. You can't go to the store with gold and silver without first converting it into currency.
    Yeah it would be nice if the currency was tied to gold, but it isn't and won't be. Get over it.
    Sneering at the dollar is like sneering at the air we breath. It might be dirty and polluted but you can't live without it. So learn to live with it and not only survive but thrive.

    Again, none of this means a damn thing if you spend more than you make.
    Your goal is to have enough money coming in from your savings and investments that you no longer have to work for a living. You can, but you no longer have to.

    TerryK, Excellent post. The only thing I would add is that your comments about sneering at the dollar also apply to the banks. There seem to be a lot of folks here who don't trust the banks. At this stage you basically can't not trust them. They are a requirement so learn to live with them.

    And your last paragraph is almost a word from god and should have been the 11'th Commandment.

    tbd

  26. #26
    Quote Originally Posted by Hfcomms View Post
    The dollar is losing value daily and the cash in your safe is losing value daily so why would you want to keep more on hand than what you would need for short term disruptions? Gold is holding its value over time and cash is not. That is why I personally hold gold (and silver) and not cash. You put value in pieces of paper with pictures of dead Presidents backed by nothing. The choice is yours and mine on what to value.
    Gold and silver is only backed by what someone is willing to pay for them though. They have no value outside of that. The idea that there would be some sort of amazing barter economy magically spring up is questionable in the collapse of the USD. I mean if the US goes, a huge portion of the world economy goes with it. I guess it would depend on how people in Venezuela, Bosnia, etc. lived when the law and order society collapsed. Too many guns in this country that makes dealing very dangerous. Look at all the people being killed bartering for shoes, gaming systems, etc..

    Even given the unknowns in a complete or substantial USD collapse, if someone is looking to protect their wealth and possibly earn a little more than what CDs are paying long-term, I feel silver coins are the way to go. I personally am considering silver Canadian maple leafs. I like how they have a $5CAD face value vs $1USD for the US Silver Eagle.

  27. #27
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    Quote Originally Posted by hiwall View Post
    Around 2-1/2% here.
    Or up to the same here.....................
    https://www.capitalone.com/bank/cds/online-cds/

    I would rather just hold the cash.
    Better to hold on to the cash than invest in CD's. I think you're better off prepping with some extra cash on hand - like candles, pure oil lamp oil, solar lights, etc. If you have all that, under the mattress investing is good too. So many times the extra cash we had in the house came in handy for emergencies. Car repair, tree removal, bought a used car from a friend. Cash is King.

  28. #28
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    The idea that there would be some sort of amazing barter economy magically spring up is questionable in the collapse of the USD.

    The wonder of our time isnt how angry we are at politics and politicians; its how little weve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  29. #29
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    Quote Originally Posted by Ravekid View Post
    Gold and silver is only backed by what someone is willing to pay for them though. They have no value outside of that. The idea that there would be some sort of amazing barter economy magically spring up is questionable in the collapse of the USD.
    History my friend, history. Gold has a 6000 year history behind it and there is always a demand for it. Right now the people in Venezuela that have gold and silver are eating as there is still a 'system' running as bad as it might be. Those with hard currency can barter, those without have to wait in line in the queues. In the Warsaw ghetto in Poland in WWII under Nazi control there was a robust black market and goods for those that had hard currency. Financial resets are always reset against gold. I don't think you could find an instance where that didn't happen.

    Even in this country previously after Roosevelt called in the gold they revalued it. They raised it from $20.69 to $35 an ounce overnight. We'll see it happen again as all nations have gold holdings as a store of value and what is the first thing that we do when we roll through another country? We make off with the gold and so do other conquerors. While it's possible that history won't repeat this time around I wouldn't count on it as the people that make the rules value the metal as core holdings. This past April the BIS made it so central banks could carry gold as a tier one asset on their balance sheets. They know what is about to happen and most of the lumps won't just as they didn't see 2008 coming either.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  30. #30
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    Quote Originally Posted by Hfcomms View Post
    Right now the people in Venezuela that have gold and silver are eating as there is still a 'system' running as bad as it might be. Those with hard currency can barter, those without have to wait in line in the queues.
    People in Venezuela with US dollars are able to eat just as well as people with gold. And the dollar is easier to value and break for use in smaller value transactions. That is why you dollar prep stash should contain bills of all values from 1's up to 100's although I personally don't hold anything above 20's as some places won't take bills larger then that.

    And no one has ever said not to hold gold or silver. They do have a store of value to them. But for normal day to day trading the dollar makes it easier to conduct business. And electric dollars like credit cards, checks, paypay, etc make it even easier. If you want to hold all of your dollars at home good for you. I don't feel comfortable with the risk of having to much buried in canning jars around the property or stored in the gun safe. IMO if the banks fail and the fed doesn't stand behind the FDIC insurance program then we have bigger issues to worry about and I'd guess that paper money won't be worth much anyway. Then my silver and gold might be worth something. But trading with a hungry person I'd guess that a couple of chicken eggs might be worth more.

    tbd

  31. #31
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    Quote Originally Posted by Dozdoats View Post
    The idea that there would be some sort of amazing barter economy magically spring up is questionable in the collapse of the USD.

    And what is he going to buy his gas from when he needs another tanker full?
    And where will the tanker company get it's tankers filled?
    And where will the refinery buy it's crude from?
    And where will all the oil companies get the money to pay their workers with?
    And what will all the stores those workers buy things from take for money?
    How about paying for their electricity and other utilities?
    I could go on and on, but you get the idea.

    PMs may work to buy your way across a border or to get you smuggled into or out of a country, or even for purchases for a very short time, but it eventually comes back to a government, like it or not.
    In addition to all that, there just isn't enough of it to serve as money.


    And
    I never saw a wild thing sorry for itself. A small bird will drop frozen dead from a bough without ever having felt sorry for itself.
    D. H. Lawrence

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