Opened up a 3-month CD at 5.37% APY.

[chuckywang]

woot!

By my calcuations, it'll earn $2,632.56 by maturity.

 

[KLin]

Originally posted by: chuckywang
woot!

By my calcuations, it'll earn $2,632.56 by maturity.

How much did you put into the CD?

 

[jfall]

damn, how much did you put in it

 

[thegimp03]

Usually CD's compound daily. You should be looking at about $60-$70 more.

And with that kind of cash in the bank, why don't you consider an FA....?

Edit: Looks like $200k.

 

[KLin]

Originally posted by: thegimp03
Usually CD's compound daily. You should be looking at about $60-$70 more.

And with that kind of cash in the bank, why don't you consider an FA....?

Edit: Looks like $200k.

Just did it in Excel and I come up with ~$198817 for initial investment if the interest is compounded daily.

 

[chuckywang]

Originally posted by: thegimp03
Usually CD's compound daily. You should be looking at about $60-$70 more.

And with that kind of cash in the bank, why don't you consider an FA....?

Edit: Looks like $200k.

APY's already take into account the frequency of compounding. The actual interest rate is in fact compounded daily, therefore creating a 5.37% APY. And what is an FA?

 

[her209]

So you invested $200K... nice.

 

[preslove]

Do you need to spend that money in 3 months?

 

[wasssup]

FA = financial advisor??

 

[thegimp03]

Financial Advisor...there may be more risk but building a portfolio mitigates the risk. Even investing in mutual funds can give you better return than a CD gets over the long term.

5.37 apy is a good rate for such a short-term investment.

 

[chuckywang]

Yeah, I'll look into other options in three months. But the CD seemed like a good idea with a great rate over a short period of time.

 

[KLin]

Originally posted by: chuckywang
Yeah, I'll look into other options in three months. But the CD seemed like a good idea with a great rate over a short period of time.

Remember, you get taxed on interest earned.

 

[Tiamat]

for such short time, that cd is pretty rad. for zero risk Esp if you dont need to touch the money.

 

[her209]

Originally posted by: chuckywang
Yeah, I'll look into other options in three months. But the CD seemed like a good idea with a great rate over a short period of time.

http://bankdeals.blogspot.com

In case your in the market for another CD... and no, I don't own that site.

 

[redgtxdi]

Methinks someone cashed out some real estate equity???

 

[chuckywang]

Originally posted by: KLin

Originally posted by: chuckywang
Yeah, I'll look into other options in three months. But the CD seemed like a good idea with a great rate over a short period of time.

Remember, you get taxed on interest earned.

Don't you get taxed on any investment return?

 

[b0mbrman]

Originally posted by: chuckywang
Yeah, I'll look into other options in three months. But the CD seemed like a good idea with a great rate over a short period of time.

Yes, it is pretty good. You're beating the 5.20% I'm making in my savings account. Did you check out Geauga ?

A little higher but the fine print might make it not worth the extra interest...

 

[Stunt]

Originally posted by: redgtxdi
Methinks someone cashed out some real estate equity???

Honestly.
$200,000 for short term, low risk investment.

 

[Stunt]

Originally posted by: chuckywang

Originally posted by: KLin

Originally posted by: chuckywang
Yeah, I'll look into other options in three months. But the CD seemed like a good idea with a great rate over a short period of time.

Remember, you get taxed on interest earned.

Don't you get taxed on any investment return?

It is taxed as a capital gain.
Dividends are a perferred tax rate.

 

[her209]

Originally posted by: chuckywang

Originally posted by: KLin

Originally posted by: chuckywang
Yeah, I'll look into other options in three months. But the CD seemed like a good idea with a great rate over a short period of time.

Remember, you get taxed on interest earned.

Don't you get taxed on any investment return?

Not on the tax-exempt ones.

 

[Descartes]

Originally posted by: chuckywang

Originally posted by: KLin

Originally posted by: chuckywang
Yeah, I'll look into other options in three months. But the CD seemed like a good idea with a great rate over a short period of time.

Remember, you get taxed on interest earned.

Don't you get taxed on any investment return?

No, of course not.

 

[Syringer]

Blog that way? :confused -->

 

[redgtxdi]

Originally posted by: Syringer
Blog that way? :confused -->

Sung to the tune of "Walk this way"??? (Aerosmith)

:laugh:


I wanna know where this 200K is goin' after the CD matures?? (new house?)