Max [maxmyinterest.com]

Discussion of the Cash portion of the Permanent Portfolio

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eufo
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Re: Max [maxmyinterest.com]

Post by eufo » Mon Apr 16, 2018 4:54 pm

I recently moved a decent chunk of my cash into CIT Bank. Their Money Market account is paying 1.75%.

http://www.bankoncit.com
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Xan
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Re: Max [maxmyinterest.com]

Post by Xan » Wed May 23, 2018 11:15 am

Marcus is now up to 1.7%.
whatchamacallit
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Re: Max [maxmyinterest.com]

Post by whatchamacallit » Wed May 23, 2018 3:11 pm

https://www.depositaccounts.com/savings/

Northpointe bank is at 2.05% but I don't trust them to hold their rates.
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Re: Max [maxmyinterest.com]

Post by boglerdude » Thu May 24, 2018 12:39 am

whatchamacallit
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Re: Max [maxmyinterest.com]

Post by whatchamacallit » Thu May 24, 2018 12:55 am

https://personal.vanguard.com/us/funds/ ... irect=true
Would federal money market @ 1.68% be state tax free?
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pugchief
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Re: Max [maxmyinterest.com]

Post by pugchief » Thu May 24, 2018 7:30 am

whatchamacallit wrote:
Thu May 24, 2018 12:55 am
https://personal.vanguard.com/us/funds/ ... irect=true
Would federal money market @ 1.68% be state tax free?
In most states the portion attributable to actual government, which in this case is 69.86%, yes.

In case it wasn't stated elsewhere, if you are in a higher marginal tax bracket, the Vanguard Municipal Money Market Fund is yielding 1.3% which has a taxable equivalent of 2% in the 35% bracket. Certainly not T-bills, but relatively safe for some of your cash.
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sophie
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Re: Max [maxmyinterest.com]

Post by sophie » Fri May 25, 2018 6:53 am

Especially after you take the tax benefits into account, 3 month T bills are handily beating all money markets and savings accounts right now (possible exception noted above by pugchief). 6 month/1 year T bills are beating CDs of much longer durations.

It was never so easy to stick with PP orthodoxy! And, what's up with the banks? Do they not realize how easy it is now to buy T bills with autoroll, or have people just not discovered that yet?
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Re: Max [maxmyinterest.com]

Post by barrett » Sun May 27, 2018 8:51 am

sophie wrote:
Fri May 25, 2018 6:53 am
Especially after you take the tax benefits into account, 3 month T bills are handily beating all money markets and savings accounts right now (possible exception noted above by pugchief). 6 month/1 year T bills are beating CDs of much longer durations.

It was never so easy to stick with PP orthodoxy! And, what's up with the banks? Do they not realize how easy it is now to buy T bills with autoroll, or have people just not discovered that yet?
Just guessing that banks can't really raise interest rates on savings accounts much because they make much of their money on the spread between short and long rates. If they lend out at prevailing mortgage rates and pay, say, what one-year T-Bills are earning, there's not a lot of meat left on the bone.

This flattening yield curve is bad news for them.

I'm with you, Sophie. For the foreseeable future much of my cash is in T-Bills.
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ochotona
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Re: Max [maxmyinterest.com]

Post by ochotona » Wed Jun 27, 2018 1:41 pm

Marcus is 1.80% today, Ally is 1.65%.
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Desert
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Re: Max [maxmyinterest.com]

Post by Desert » Wed Jun 27, 2018 5:04 pm

Another option is Vanguard Treasury MM, VUSXX, currently yielding 1.81 percent. $50K minimum, unfortunately. I don't believe they'll kick you out of your balance drops though.
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Re: Max [maxmyinterest.com]

Post by dualstow » Wed Jun 27, 2018 6:24 pm

Desert wrote:
Wed Jun 27, 2018 5:04 pm
Another option is Vanguard Treasury MM, VUSXX, currently yielding 1.81 percent. $50K minimum, unfortunately. I don't believe they'll kick you out of your balance drops though.
That’s correct. I’ve had under 10K in there for years. Now that it’s paying dollars and not cents, I’m going to put proceeds from matured tbills in there.
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eufo
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Re: Max [maxmyinterest.com]

Post by eufo » Wed Jun 27, 2018 8:47 pm

CIT Bank Money Market has upped to 1.85%. Cash is feeling comfy.
Don't agree with me too strongly or I'm going to change my mind
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