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Started By
Message
re: Unexpected $50K, not immediately needed,WTD
Posted on 12/13/22 at 10:46 pm to LiteHeaded
Posted on 12/13/22 at 10:46 pm to LiteHeaded
quote:
Obviously could drop it in savings but I have to believe there is better place to park this money with some returns.
Ladder up some CDs. That takes the temptation out of spending it, gets you decent return and you'll start to think of it as an income stream. Every cycle they mature, you pocket the interest, roll over the same amount (or let them level up over time if you really don't need the money or income right now - let it build until you do.)
Obviously, if have some particularly high interest debt, you can retire that and pay yourself back with interest.
2
Posted on 12/14/22 at 6:30 am to Ace Midnight
So When you say ladder — do you put say 1/3 of your money in a 4 week, 1/3 in a 6 month, and 1/3 in a year? Sorry, completely ignorant to this subject.
Posted on 12/14/22 at 7:56 am to Ace Midnight
quote:
Ladder up some CDs.
Now that is appealing also. Have never heard of that strategy but what little research and reading I did on this it is very interesting. I looked into T-bills a little and get lost in the details.....things about auctions, timing, possibly a ton of scam sites, treasurydirect which is typical of a government site is overly complicated to navigate and so on. CD's look to be available with most major banks and a lot less complicated.
Posted on 12/14/22 at 8:32 am to TheJunction
quote:
So When you say ladder — do you put say 1/3 of your money in a 4 week, 1/3 in a 6 month, and 1/3 in a year? Sorry, completely ignorant to this subject.
Essentially - they can structure based on what you want it to do, but it is just a method to prime the system so that you get regular (most commonly quarterly or monthly) rollovers and then it just becomes an engine.
Posted on 12/14/22 at 12:54 pm to LiteHeaded
quote:
I looked into T-bills a little and get lost in the details.....things about auctions, timing, possibly a ton of scam sites
Do you have a brokerage account at one of the majors? You select a maturity, select the number of bills or notes and click the buy button. It’s pretty straightforward.
ETA: I have no idea what you mean by scam sites. Could you explain?
This post was edited on 12/14/22 at 1:59 pm
Posted on 12/14/22 at 3:22 pm to Jag_Warrior
quote:
I have no idea what you mean by scam sites. Could you explain?
Maybe scam is a strong or incorrect term. When searching "How to purchase T-Bills" a ton of websites pop up that are not .gov or major well known agents. Maybe I am hyper aware of fraud or potential fraud (FTX as an example) and knowing I know zero about this I am just super cautious. Being that T-Bills were a treasury item I assumed (and apparently incorrectly) that you had to go to/through the feds to purchase some.
Another note: this entire conversation has been super helpful and the advice/suggestions coming in are fantastic. Thanks to everyone, even the put it all on red option, lol.
Posted on 12/14/22 at 3:24 pm to LiteHeaded
quote:
Is there an account with pretty decent returns but gives you the flexibility to withdraw when needed without penalty? What are the suggestions?
CELSIUS! MAKE DEPOSIT NOW! HURRY!
Posted on 12/14/22 at 3:30 pm to Pendulum
quote:
I'd go to treasuries at the moment.
3MO/6MO/9MO TBILLS You can get 4.5%
on a more serious note. yup. i have a 3 month t-bill
Posted on 12/14/22 at 4:06 pm to LiteHeaded
quote:
When searching "How to purchase T-Bills" a ton of websites pop up that are not .gov or major well known agents.
On the previous page I listed a link that gives a detailed description of what T-bills and notes are and how to buy them. Trust me, it’s not at all difficult or risky. You can buy new issues through Treasury Direct or you can buy new (for 0 fees) or existing issues through a brokerage. I only buy new issues.
With Treasuries having generally higher yields than CDs and also offering tax benefits, at least in my situation, I see no reason to buy CDs.
I’m also looking into shorter term (2-3 year maturity) high grade, corporate notes. But that’s a topic for another day. I would suggest Treasuries for you. But good luck either way.
Posted on 12/14/22 at 4:23 pm to LiteHeaded
Yes, sit down on it..
Posted on 12/14/22 at 5:28 pm to LiteHeaded
Use it as a down payment to buy income producing real estate.
Posted on 12/14/22 at 6:03 pm to Intelligent
He said:
quote:
Is there an account with pretty decent returns but gives you the flexibility to withdraw when needed without penalty?
Posted on 12/15/22 at 12:36 pm to Jag_Warrior
quote:
I only buy new issues.
same
Posted on 12/15/22 at 2:08 pm to LiteHeaded
Are you in need of a new car?
Posted on 12/15/22 at 2:37 pm to LiteHeaded
Have you ever heard of ZOM? You might want to get in touch with the wise sage Ancient Tiger for some advice
Posted on 12/15/22 at 3:13 pm to LiteHeaded
You can make ~4.7% on a 1-yr US bond (~$2,350 profit before tax).
If you have the ability, you might look into some investment grade corporate bonds (6-7% yields right now)
If you have the ability, you might look into some investment grade corporate bonds (6-7% yields right now)
This post was edited on 12/15/22 at 3:14 pm
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