Do you even invest?

Off-topic? You mean on-topic!
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Desertbreh wrote: Thu Nov 01, 2018 4:54 pm
Tarspin wrote: Wed Oct 31, 2018 1:24 pm

I'm going with cash in hand, if there's any major dips in essential needs stocks or really significant corrections in tech/etc I'll pick up the fire sales. If not I'll pay down the cottage debt. Feels good to not mose my ass LOL
What's the rate on your vacation home debt?
Its a variable because our longest fixed rate loan is 5 yrs between refi. I'm at prime minus 0.85% on the var so 2.9%
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Tarspin wrote: Thu Nov 01, 2018 5:22 pm
Desertbreh wrote: Thu Nov 01, 2018 4:54 pm

What's the rate on your vacation home debt?
Its a variable because our longest fixed rate loan is 5 yrs between refi. I'm at prime minus 0.85% on the var so 2.9%
:notbad: at all really.

That greener grass is Canadia really is greener.
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dubshow wrote: Thu Nov 01, 2018 6:10 pm
Tarspin wrote: Thu Nov 01, 2018 5:22 pm

Its a variable because our longest fixed rate loan is 5 yrs between refi. I'm at prime minus 0.85% on the var so 2.9%
:notbad: at all really.

That greener grass is Canadia really is greener.
We dont have the 30 yr stability but banks can offer lower rates knowing they dont have to forecast 30 yrs ahead either. I've been variable forever. Fixed rates are currently 3.9 so I'd need four increases over five yrs just to meet the higher payments. There's some risk of course.
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I want to move to Canada.
Desertbreh wrote: Tue Oct 10, 2017 6:40 pm My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
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Detroit wrote: Fri Nov 02, 2018 6:55 pm I want to move to Canada.
Plenty of good reasons to.
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Detroit wrote: Fri Apr 16, 2021 1:19 pm I don't understand anything anymore.
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dubshow wrote: Thu Nov 01, 2018 4:11 pm Great news!

The IRS has moved up retirement account (401k) contribution limits for 2019 to $19k! Up from $18,5. The $25k for :wap: still applies, of course.

Sadly only about 45M people in the US have any retirement account.
-4% on that POS so far YTD. :notsure: it is that great of an "investment"
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max225 wrote: Wed Nov 07, 2018 7:39 pm
dubshow wrote: Thu Nov 01, 2018 4:11 pm Great news!

The IRS has moved up retirement account (401k) contribution limits for 2019 to $19k! Up from $18,5. The $25k for :wap: still applies, of course.

Sadly only about 45M people in the US have any retirement account.
-4% on that POS so far YTD. :notsure: it is that great of an "investment"
Worse than inflation brah.
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Figured this would be a worthy thread for this question...

My wife and I are looking for a new bank after dealing with some headaches with our current, Santander, especially with several fuck-ups on their part that led to us not being able to withdraw cash while in Europe and ultimately paying a higher fee by getting a cash advance, twice (for the countries that didn't use the Euro), with my CC.

Anyway...

Based on my limited research, I'm leaning toward either opening with a local credit union or a Schwab Bank High Yield Investor Checking Account. The credit union has the obvious perk of being local and easy to work with, according to most info I've seen online about them.

However, the Schwab bank seems to tick all the boxes (ATM fee reimbursement worldwide, some "investment" potential with .4% APY, no monthly fee, etc) with the exception that there are no local branches. It's almost entirely online. It's incredibly appealing to us to have the international capabilities, especially after what we dealt with on our trip. Also, we rarely deposit cash anyway so as long as the mobile functionality for checks works easily, that shouldn't be an issue.

If we pursue the Schwab bank, it does require a hard inquiry, but that's not necessarily a turn-off if the account is as good as it seems.

Anyone able to provide input, particularly if you have experience with the Schwab one?
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We have used schwab for our primary checking account for years, they are great for customer service. I've never been to a branch, don't need one for anything with mobile deposits and zero atm fees.

Other options have more like 2% APY :doe:

You pay for the customer service by getting basically no return.
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We use Fidelity cash management, very similar to Schwab it sounds like. Works outstanding.

We still keep an account at a major bank for easy access to branches for the rare times you need a bunch of cash or a cashier's check or whatever. Can easily do electronic transfers from one bank to another.
Desertbreh wrote: Tue Oct 10, 2017 6:40 pm My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
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Oh and the Fidelity credit card that you can get with the cash management account is unlimited 2% back on everything, deposited right into your account. It's the best credit card deal I've been able to find.
Desertbreh wrote: Tue Oct 10, 2017 6:40 pm My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
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Detroit wrote: Thu Mar 28, 2019 4:35 pm We use Fidelity cash management, very similar to Schwab it sounds like. Works outstanding.

We still keep an account at a major bank for easy access to branches for the rare times you need a bunch of cash or a cashier's check or whatever. Can easily do electronic transfers from one bank to another.
That's a good point. I haven't had a need for one of those in while that I forgot about that.
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Jaxper wrote: Thu Mar 28, 2019 4:57 pm
Detroit wrote: Thu Mar 28, 2019 4:35 pm We use Fidelity cash management, very similar to Schwab it sounds like. Works outstanding.

We still keep an account at a major bank for easy access to branches for the rare times you need a bunch of cash or a cashier's check or whatever. Can easily do electronic transfers from one bank to another.
That's a good point. I haven't had a need for one of those in while that I forgot about that.
It's rare...but something like buying a house? You'll need that. Same goes for large amounts of cash. Having a little bit of money at a major bank can be really handy.
Desertbreh wrote: Tue Oct 10, 2017 6:40 pm My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
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Detroit wrote:
Jaxper wrote: Thu Mar 28, 2019 4:57 pm That's a good point. I haven't had a need for one of those in while that I forgot about that.
It's rare...but something like buying a house? You'll need that. Same goes for large amounts of cash. Having a little bit of money at a major bank can be really handy.
Schwab will overnight a cashier's check to whomever you want at no extra charge, it's more convenient than going to a branch.
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troyguitar wrote: Thu Mar 28, 2019 6:16 pm
Detroit wrote: It's rare...but something like buying a house? You'll need that. Same goes for large amounts of cash. Having a little bit of money at a major bank can be really handy.
Schwab will overnight a cashier's check to whomever you want at no extra charge, it's more convenient than going to a branch.
I know, and they'll mail a check to anyone for anything too. For something major like a house purchase, it's nice to be able to make sure the check is correct ahead of time. Also, many banks place limits on ATM transactions, so like when we bought our camper, we couldn't get the cash without walking into the branch.
Desertbreh wrote: Tue Oct 10, 2017 6:40 pm My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
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(not so) Cool Bank Story Bro


The year was 2007, we were living in South Florida and and wife unit had lost her had lost her :waxer: job .....she found another but it was a 50% pay cut (but still into low six figures) ..... and then ......

the housing bubble burst ..... just like cash out of Troy's wallet doesn't....

:trollface: :mahtroy:

Long story short we woke up one preposterously hot and :moist: morning and our house was worth $100,000 less than it was the day before.....

We were upside down ......but we qualified for the Mortgage Relief Program :thanksobama:

But in order to qualify you actually had to go into default on your loan......so we did..... and then our payment was reduced by about 25% for a year ..........and we were comfortably making the payments...... :fuckyeah: crisis averted

If nothing changed (and it didn't) we should have qualified for an extension of this for the following year......but one day we get a certified letter from Hells Fargo saying that we are in default....and unless we agree to start making payments $200 higher than our original payment (which was an $800 swing) they are going to initiate foreclosure proceedings.

We have 5 days to sign and return the letter. My wife signed and returned it because she was scared. Subsequently we found that they had left a zero off of our child care costs when calculating whether or not we qualified. When we pointed this out, they admitted the mistake but said "well you signed the letter". :aintcare:

TL/DR A typo and subsequent douchebaggery by Wells Fargo cost me my house, credit score and financial well being for 7 fucking years.


wells Fargo can suck my :dedong: :rage:
Last edited by Irish on Thu Mar 28, 2019 8:07 pm, edited 4 times in total.
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Irish wrote: Thu Mar 28, 2019 6:50 pm (not so) Cool Bank Story Bro


The year was 2007, we were living in South Florida and and wife unit had lost her had lost her :waxer: job .....she found another but it was a 50% pay cut (but still into low six figures) ..... and then ......

the housing bubble burst, like cash out of Troy's wallet doesn't....

:trollface: :mahtroy:

Long story short we woke up one preposterously hot and :moist: morning and our house was worth $100,000 less than it was the day before.....

We were upside down ......but we qualified for the Mortgage Relief Program :thanksobama:

But in order to qualify you actually had to go into default on your loan......so we did..... and then our payment was reduced by about 25% for a year and we were comfortably making the payments...... if nothing changed (and it didn't) we should have qualified for an extension of this for the following year......but one day we get a certified letter from Hells Fargo saying that we are in default....and unless we agree to start making payments $200 higher than our original payment they are going to initiate foreclosure proceedings. We have 5 days to sign and return the letter. My wife signed and returned it because she was scared. Subsequently we found that they had left a zero off of our child care costs when calculating whether we qualified. When we pointed this out, they admitted the mistake but said "well you signed the letter".

TL/DR A typo and subsequent douchebaggery by Wells Fargo cost me my house, credit score and financial well being for 7 fucking years.


wells Fargo can suck my :dedong:
This is why my CEO throws shade at Wells every chance he gets, hah!
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Irish wrote: Thu Mar 28, 2019 6:50 pm (not so) Cool Bank Story Bro


The year was 2007, we were living in South Florida and and wife unit had lost her had lost her :waxer: job .....she found another but it was a 50% pay cut (but still into low six figures) ..... and then ......

the housing bubble burst ..... just like cash out of Troy's wallet doesn't....

:trollface: :mahtroy:

Long story short we woke up one preposterously hot and :moist: morning and our house was worth $100,000 less than it was the day before.....

We were upside down ......but we qualified for the Mortgage Relief Program :thanksobama:

But in order to qualify you actually had to go into default on your loan......so we did..... and then our payment was reduced by about 25% for a year ..........and we were comfortably making the payments...... :fuckyeah: crisis averted

If nothing changed (and it didn't) we should have qualified for an extension of this for the following year......but one day we get a certified letter from Hells Fargo saying that we are in default....and unless we agree to start making payments $200 higher than our original payment (which was an $800 swing) they are going to initiate foreclosure proceedings.

We have 5 days to sign and return the letter. My wife signed and returned it because she was scared. Subsequently we found that they had left a zero off of our child care costs when calculating whether or not we qualified. When we pointed this out, they admitted the mistake but said "well you signed the letter". :aintcare:

TL/DR A typo and subsequent douchebaggery by Wells Fargo cost me my house, credit score and financial well being for 7 fucking years.


wells Fargo can suck my :dedong: :rage:
:shock:
Holy fucking hell. That's the shittiest thing I've heard in a long time. Those fcknuts should be locked up for ruining your life, or at least a portion of it.
:wap: Where are these mangos?
Detroit wrote: Fri Apr 16, 2021 1:19 pm I don't understand anything anymore.
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wap wrote: Thu Mar 28, 2019 8:59 pm
Irish wrote: Thu Mar 28, 2019 6:50 pm (not so) Cool Bank Story Bro


TL/DR A typo and subsequent douchebaggery by Wells Fargo cost me my house, credit score and financial well being for 7 fucking years.


wells Fargo can suck my :dedong: :rage:
:shock:
Holy fucking hell. That's the shittiest thing I've heard in a long time. Those fcknuts should be locked up for ruining your life, or at least a portion of it.
From your mouth to :jesus: ear ..... we struggled unnecessarily for years to come back from this...... tried to rent it out......got a tenant.... everything was going okay until the bank sent a notice to the Fla house.....once the tenant was wise that were were in trouble, she stopped paying the rent.....squatted for 6 months.......all the while we were trying to carry a mortgage and rent on our place in PA..... meanwhile, the HOA was trying to take the house because of back dues.......something had to give, so we ended up doing a short sale........which of course meant we walked away with nothing except a big black mark on our credit.......

Fuckers

TL/DR The housing crisis did not just affect :povertytruck: sub prime borrowers .....
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Irish wrote: Thu Mar 28, 2019 9:16 pm
wap wrote: Thu Mar 28, 2019 8:59 pm
:shock:
Holy fucking hell. That's the shittiest thing I've heard in a long time. Those fcknuts should be locked up for ruining your life, or at least a portion of it.
From your mouth to :jesus: ear ..... we struggled unnecessarily for years to come back from this...... tried to rent it out......got a tenant.... everything was going okay until the bank sent a notice to the Fla house.....once the tenant was wise that were were in trouble, she stopped paying the rent.....squatted for 6 months.......all the while we were trying to carry a mortgage and rent on our place in PA..... meanwhile, the HOA was trying to take the house because of back dues.......something had to give, so we ended up doing a short sale........which of course meant we walked away with nothing except a big black mark on our credit.......

Fuckers

TL/DR The housing crisis did not just affect :povertytruck: sub prime borrowers .....
:rage: :(
Glad you got back on your feet, :doe:
Good on you.
:wap: Where are these mangos?
Detroit wrote: Fri Apr 16, 2021 1:19 pm I don't understand anything anymore.
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Irish wrote: Thu Mar 28, 2019 9:16 pm
wap wrote: Thu Mar 28, 2019 8:59 pm
:shock:
Holy fucking hell. That's the shittiest thing I've heard in a long time. Those fcknuts should be locked up for ruining your life, or at least a portion of it.
From your mouth to :jesus: ear ..... we struggled unnecessarily for years to come back from this...... tried to rent it out......got a tenant.... everything was going okay until the bank sent a notice to the Fla house.....once the tenant was wise that were were in trouble, she stopped paying the rent.....squatted for 6 months.......all the while we were trying to carry a mortgage and rent on our place in PA..... meanwhile, the HOA was trying to take the house because of back dues.......something had to give, so we ended up doing a short sale........which of course meant we walked away with nothing except a big black mark on our credit.......

Fuckers

TL/DR The housing crisis did not just affect :povertytruck: sub prime borrowers .....
It was a rough period if you weren't all cash, that is for fucking sure.
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Jaxper wrote: Thu Mar 28, 2019 3:48 pm Figured this would be a worthy thread for this question...

My wife and I are looking for a new bank after dealing with some headaches with our current, Santander, especially with several fuck-ups on their part that led to us not being able to withdraw cash while in Europe and ultimately paying a higher fee by getting a cash advance, twice (for the countries that didn't use the Euro), with my CC.

Anyway...

Based on my limited research, I'm leaning toward either opening with a local credit union or a Schwab Bank High Yield Investor Checking Account. The credit union has the obvious perk of being local and easy to work with, according to most info I've seen online about them.

However, the Schwab bank seems to tick all the boxes (ATM fee reimbursement worldwide, some "investment" potential with .4% APY, no monthly fee, etc) with the exception that there are no local branches. It's almost entirely online. It's incredibly appealing to us to have the international capabilities, especially after what we dealt with on our trip. Also, we rarely deposit cash anyway so as long as the mobile functionality for checks works easily, that shouldn't be an issue.

If we pursue the Schwab bank, it does require a hard inquiry, but that's not necessarily a turn-off if the account is as good as it seems.

Anyone able to provide input, particularly if you have experience with the Schwab one?
Just wanted to add a quick fck you to santander
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Desertbreh wrote: Fri Mar 29, 2019 2:20 am
Irish wrote: Thu Mar 28, 2019 9:16 pm

From your mouth to :jesus: ear ..... we struggled unnecessarily for years to come back from this...... tried to rent it out......got a tenant.... everything was going okay until the bank sent a notice to the Fla house.....once the tenant was wise that were were in trouble, she stopped paying the rent.....squatted for 6 months.......all the while we were trying to carry a mortgage and rent on our place in PA..... meanwhile, the HOA was trying to take the house because of back dues.......something had to give, so we ended up doing a short sale........which of course meant we walked away with nothing except a big black mark on our credit.......

Fuckers

TL/DR The housing crisis did not just affect :povertytruck: sub prime borrowers .....
It was a rough period if you weren't all cash, that is for fucking sure.
True dat :dat: South Florida was a war zone .....just about every other house went up for sale ..... Many, many people got the fuq out of Dodge and neighborhoods became ghost towns...... The movie The Big Short (which I highly recommend BTW) has a sequence that really encapsulated it and made my blood run cold with remembrance.

Now, much of the country did not experience this.....at least not to the same degree.......but certain areas of Arizona, California, Florida and Nevada were devastated.
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What is the cheapest most painless legit way to buy $500 worth of stock these days?

Wife unit got a tip she wants to gamble on.
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Irish wrote: Mon Aug 19, 2019 2:51 pm What is the cheapest most painless legit way to buy $500 worth of stock these days?

Wife unit got a tip she wants to gamble on.
depends on stock. do you not have a broker already? or 401k with a large co that offers trading?
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