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 » Sun Jan 14, 2018 5:22 pm

Seems solid... I would always secretly question if they were doing it right and do the research anyway.
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Re: Max [maxmyinterest.com]

Post by ochotona » Sun Jan 14, 2018 8:53 pm

Thanks for the motivation. I just opened an account at marcus.com (Goldman Sachs' online consumer bank). 1.50% on the savings accounts. I'm with Ally now, get 1.25%. But I'm keeping my checking and some savings at Ally. Too much of a pain to uproot everything.

Marcus and Ally both have A+ bank safety ratings at BankRate.com. Not all online banks do. I want that A+.
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Re: Max [maxmyinterest.com]

Post by ochotona » Tue Jan 16, 2018 5:43 pm

The Marcus user interface is very spare. No online app. I don't think it's that good for a primary consumer checking / savings account. But it's fine as a high interest money bucket. I think that's all they intended it to be, a money magnet.
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Re: Max [maxmyinterest.com]

Post by Xan » Tue Jan 16, 2018 7:31 pm

ochotona wrote:The Marcus user interface is very spare. No online app. I don't think it's that good for a primary consumer checking / savings account. But it's fine as a high interest money bucket. I think that's all they intended it to be, a money magnet.
99% of the time, anything that can be done in a phone app is better done as a web site. Anybody who wants you to install an app in order to deliver a service that could be done over the web is trying to spy on you or otherwise take advantage.
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ochotona
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Re: Max [maxmyinterest.com]

Post by ochotona » Tue Jan 16, 2018 8:26 pm

Xan wrote:
ochotona wrote:The Marcus user interface is very spare. No online app. I don't think it's that good for a primary consumer checking / savings account. But it's fine as a high interest money bucket. I think that's all they intended it to be, a money magnet.
99% of the time, anything that can be done in a phone app is better done as a web site. Anybody who wants you to install an app in order to deliver a service that could be done over the web is trying to spy on you or otherwise take advantage.
So nice of Goldman to not want to take advantage of us!
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Re: Max [maxmyinterest.com]

Post by whatchamacallit » Wed Jan 17, 2018 8:12 am

Savings accounts need to catch up.

Best return and convenience right now really is the 1 year treasury @ 1.8%. Especially if you have to pay state income tax.

1 year cds might get you 2% with too much hassle.
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Re: Max [maxmyinterest.com]

Post by ochotona » Wed Jan 17, 2018 11:04 am

whatchamacallit wrote:Savings accounts need to catch up.

Best return and convenience right now really is the 1 year treasury @ 1.8%. Especially if you have to pay state income tax.

1 year cds might get you 2% with too much hassle.
What I really need to do is push this cash into my Roth IRA, totally max out my Roth 401k, trade my IRA gold ETFs for gold bars, and get rid of the excessive taxable bank cash. I'll do it when my littlest is out of college and my industry (oil) stops going into fibrillation every couple quarters. Anyone got a some spare Xanax?
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Re: Max [maxmyinterest.com]

Post by ochotona » Sun Feb 11, 2018 11:58 am

When I moved a big block of cash from Ally to Marcus, the interest rate difference was 0.25%. Now it's only 0.05%. Ally woke up and noticed, a little bit late. They probably bled out millions of dollars.
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Re: Max [maxmyinterest.com]

Post by ochotona » Sun Feb 18, 2018 7:41 am

Some user feedback postings at depositaccounts.com reminded me that Marcus uses your email address as your username, which isn't good. I then made a ridiculously secure password with 256 characters, saved it to an encrypted file, and will use it only for Marcus. Not convenient, but I don't look at Marcus but once a month to get my statement.
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Re: Max [maxmyinterest.com]

Post by ochotona » Sun Apr 15, 2018 10:38 am

Marcus online savings is now paying 1.60%
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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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Re: Max [maxmyinterest.com]

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

Marcus is now up to 1.7%.
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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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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 MangoMan). 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 MangoMan). 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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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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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.
RIP Marcello Gandini
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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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Re: Max [maxmyinterest.com]

Post by Kbg » Thu Jun 28, 2018 9:11 am

eufo wrote:
Wed Jun 27, 2018 8:47 pm
CIT Bank Money Market has upped to 1.85%. Cash is feeling comfy.
It shouldn't be feeling comfortable at all...you are losing .95% real as inflation is running about 2.8% now.
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eufo
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Re: Max [maxmyinterest.com]

Post by eufo » Thu Jun 28, 2018 12:45 pm

Kbg wrote:
Thu Jun 28, 2018 9:11 am
eufo wrote:
Wed Jun 27, 2018 8:47 pm
CIT Bank Money Market has upped to 1.85%. Cash is feeling comfy.
It shouldn't be feeling comfortable at all...you are losing .95% real as inflation is running about 2.8% now.
But yet it does.
Don't agree with me too strongly or I'm going to change my mind
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Re: Max [maxmyinterest.com]

Post by dualstow » Thu Jun 28, 2018 1:19 pm

Ha. Well, as Kevin M said over at Bogleheads, that 2.8% figure is just a 12-month snapshot.
RIP Marcello Gandini
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Re: Max [maxmyinterest.com]

Post by Kbg » Thu Jun 28, 2018 1:37 pm

eufo wrote:
Thu Jun 28, 2018 12:45 pm
Kbg wrote:
Thu Jun 28, 2018 9:11 am
eufo wrote:
Wed Jun 27, 2018 8:47 pm
CIT Bank Money Market has upped to 1.85%. Cash is feeling comfy.
It shouldn't be feeling comfortable at all...you are losing .95% real as inflation is running about 2.8% now.
But yet it does.
Captain, illogical. :-)
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eufo
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Re: Max [maxmyinterest.com]

Post by eufo » Thu Jun 28, 2018 3:39 pm

Kbg wrote:
Thu Jun 28, 2018 1:37 pm
eufo wrote:
Thu Jun 28, 2018 12:45 pm
Kbg wrote:
Thu Jun 28, 2018 9:11 am


It shouldn't be feeling comfortable at all...you are losing .95% real as inflation is running about 2.8% now.
But yet it does.
Captain, illogical. :-)
Feelings are always illogical, but as long as I stick to a logical plan, all is good.
Don't agree with me too strongly or I'm going to change my mind
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