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

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.
 
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.
Click to expand...

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

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?
 
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.
 
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.
 
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.
Click to expand...

Remember, you get taxed on interest earned.
 
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.
Click to expand...

Remember, you get taxed on interest earned.
Click to expand...

Don't you get taxed on any investment return?
 
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.
Click to expand...

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...
 
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.
Click to expand...
Remember, you get taxed on interest earned.
Click to expand...
Don't you get taxed on any investment return?
Click to expand...
It is taxed as a capital gain.
Dividends are a perferred tax rate.
 
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.
Click to expand...
Remember, you get taxed on interest earned.
Click to expand...
Don't you get taxed on any investment return?
Click to expand...
Not on the tax-exempt ones. 😛
 
Originally posted by: Syringer
Blog that way? :confused -->
Click to expand...

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

:laugh:


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