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educate me 401-k

  1. #2151
    Posting Freak
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    Re: educate me 401-k


    I sold and repurchased AAPL on this latest dip (hopefully it comes back today). I'm tempted to sell all of it on the next uptick, as well as my MSFT, and wait for the whole market to re-align itself. But then I'd miss out on the dividends, and Apple's 5G phone is projected to sell like gangbusters so there's no reason not to expect the price keep rising. But who the hell knows, especially with our frosty relationship with China?

    Tesla feels too risky to me, even though people have made a fortune on it. Just seems like all smoke and mirrors, and the guy at the top is a nutjob. I'd rather play it a little safer with a company that has actual positive revenue and $80BB in the bank.

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    Last edited by Bonk!; 09-04-20 at 08:50 AM.

  2. #2152
    Lifer Chippertheripper's Avatar
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    Re: educate me 401-k

    The last time I had Apple it tanked and took me almost a year to break even. I’m well on track to repeat that this time around too...fingers crossed.

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  3. #2153
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    Re: educate me 401-k

    next time give us a heads up so we can plan accordingly!

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  4. #2154

    Re: educate me 401-k

    in terms of savings accounts as of 9/4/20
    Synchrony: 0.75%
    Capital One: 0.50%
    Discover 0.70%

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  5. #2155
    Super Moderator OreoGaborio's Avatar
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    Re: educate me 401-k

    Ally 0.80%

    I just moved most of my savings from Capital One back over to my Ally. Takes all of sixty seconds on my phone.

    I started the process of opening a Varo savings account which is 1.21 or 2.8 if you met certain requirements but decided to hold off for now till I learn more about em.

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    Last edited by OreoGaborio; 09-04-20 at 05:11 PM.
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  6. #2156
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    Re: educate me 401-k

    I have an Ally CD at 3.0%, which is higher than my mortgage. Wish I had dumped more into that one.

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  7. #2157
    Super Moderator TheIglu's Avatar
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    Re: educate me 401-k

    Completely debt free. Mortgage paid off without touching the emergency fund last week.

    Happy early birthday to me. This was my 40th birthday goal.

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  8. #2158

    Re: educate me 401-k

    Quote Originally Posted by TheIglu View Post
    Completely debt free. Mortgage paid off without touching the emergency fund last week.

    Happy early birthday to me. This was my 40th birthday goal.
    Very impressive. Happy for you sir

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  9. #2159
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    Now will you buy a gd truck!

    I'm kidding. Grats on that mark.

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  10. #2160
    Super Moderator TheIglu's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by nhbubba View Post
    Now will you buy a gd truck!

    I'm kidding. Grats on that mark.
    That's the plan!

    Got about a year and a half to save for it.

    Having the extra $1300/month going straight into savings will sure help until Elon get's his shit together making the ugliest vehicle ever mass produced.

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    -Clayton
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  11. #2161
    BMW track whore e30addict's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by TheIglu View Post
    That's the plan!

    Got about a year and a half to save for it.

    Having the extra $1300/month going straight into savings will sure help until Elon get's his shit together making the ugliest vehicle ever mass produced.
    Load up on TSLA stock and get there faster. Relative firesale on it now

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  12. #2162
    Lifer Chippertheripper's Avatar
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    Re: educate me 401-k

    Yeah, I’m gonna have to do some dollar cost averaging. Fuck.

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  13. #2163
    Super Moderator OreoGaborio's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by e30addict View Post
    Load up on TSLA stock and get there faster. Relative firesale on it now
    Not gonna say I'm not tempted to jump back in the TSLA pool. I jumped out a couple months back at 1515 which is actually less than it is post split.

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  14. #2164
    Backwoods lobster boy number9's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by TheIglu View Post
    Completely debt free. Mortgage paid off without touching the emergency fund last week.

    Happy early birthday to me. This was my 40th birthday goal.

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  15. #2165
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    If you can find the time, watch this.


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  16. #2166
    Lifer Chippertheripper's Avatar
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    Re: educate me 401-k

    My mortgage co marched a rate during the refi that I’d been getting ads for by mail.
    We’re now down to 2.25%, for the remainder of the note.
    I’d say “I don’t know how they can offer rates so low” until you go look at the amortization and see that it’s still close to 100k in interest over this one property...and how many loans do they carry?!

    This business model is something.

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  17. #2167
    Backwoods lobster boy number9's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by Chippertheripper View Post
    I’d say “I don’t know how they can offer rates so low” until you go look at the amortization and see that it’s still close to 100k in interest over this one property...and how many loans do they carry?!
    The majority of mortgage originators do not carry the loans -- they are bundled, securitized, and sold to large investors.

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  18. #2168
    Lifer Chippertheripper's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by number9 View Post
    The majority of mortgage originators do not carry the loans -- they are bundled, securitized, and sold to large investors.
    Right. The business model. Regardless, they’re selling how many loans and claiming their profits on the way?

    I should add that previous loans and refi’s have been different. Once this purchase was made, and that loan passed to my current lender, they’ve extended the rate reduction 2x...I assume to keep my business in house and to keep us from chasing a lower rate somewhere else.

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    Last edited by Chippertheripper; 09-15-20 at 02:13 PM.
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  19. #2169

    Re: educate me 401-k

    Anyone come across any good opportunities to open savings accounts with bonuses?

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  20. #2170
    Lifer loudbeard's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by tsorfas View Post
    Anyone come across any good opportunities to open savings accounts with bonuses?
    Chase has this offer through October 12th, $500 total

    Bonus/Account Information: Checking offer is not available to existing Chase checking customers. Savings offer is not available to existing Chase savings customers. Both offers are not available to those whose accounts have been closed within 90 days or closed with a negative balance. To receive the $200 checking bonus: 1) Open a new Chase Total Checking account, which is subject to approval; AND 2) Have your direct deposit made to this account within 90 days of account opening. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person to Person payments (such as Chase Quickpay® with Zelle®) are not considered direct deposit. After you have completed all the above checking requirements, we'll deposit the bonus in your new account within 10 business days. To receive the $200 savings bonus: 1) Open a new Chase SavingsSM account, which is subject to approval; 2) Deposit a total of $15,000 or more in new money into the new savings account within 20 business days of account opening; AND 3) Maintain at least a $15,000 balance for 90 days from the date of deposit. The new money cannot be funds held by you at Chase or its affiliates. After you have completed all the above savings requirements, we'll deposit the bonus in your new account within 10 business days. To receive the extra $100 bonus: You must open the checking and savings account at the same time and complete all requirements above for BOTH the checking bonus and savings bonus. After you have completed all requirements, we will deposit the remaining bonus due in your new checking account within 10 business days. The Annual Percentage Yield (APY), for Chase SavingsSM effective as of 07/21/2020, is 0.01% for all balances in all states. Interest rates are variable and subject to change. Additionally, fees may reduce earnings on the account. You can receive only one new checking and one new savings account opening related bonus every two years from the last enrollment date and only one bonus per account. Coupon is good for one-time use. Bonuses are considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).

    2Account Closing: If either the checking or savings account is closed by the customer or Chase within six months after opening, we will deduct the bonus amount for that account at closing.

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    Last edited by loudbeard; 09-16-20 at 10:18 AM.
    I went to MMI I know what Im doing here chief

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