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Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

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Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#261

Post by scubbo »

latchkey wrote: post #254
archagon wrote: post #246

Earlier quoted context omitted.

This sounds a lot like becoming a professional investor. Most people don't have time for that (and there are no financial guarantees in any case).

As soon as you get a 'real job', you're immediately pushed on the concept that you're supposed to stuff money into a 401k and let other people manage it for you because you're too busy or this stuff is too hard and others can do a better job at it for you. Sure, that's something that you can do, or you can decide to put the time and effort into learning more about finance and control what you do with your money a bit…

Absolutely right, and I salute the impulse to educate folks that taking financial responsibility and autonomy is something that is possible and profitable!

(While still disagreeing with you that crypto fits the requirement-profile of an emergency fund :P )

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#262

Post by emkemp »

throw_nbvc1234 wrote: post #193
tombert wrote: post #177

Earlier quoted context omitted.

I could be wrong, but I thought you could sell T-Bills fairly easily on the secondary market. You might take a bit of a haircut, so it's obviously better to hold onto until maturity, but I think in a pinch you can get most of the money back.

Or you can be SVB and take a lot of a haircut. Putting money you "need in a pinch" in an asset where you could take a haircut to get an extra percent or two of interest is a risk. A risk you can mitigate but still a risk.

SVB's haircut was from LONG TERM bonds. Not T-Bills.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#263

Post by latchkey »

scubbo wrote: post #260
latchkey wrote: post #211

Earlier quoted context omitted.

It is a helpful comment because a lot of people don't think about things in the terms that I'm outlying. In the same way that people don't think about how getting paid a salary in USD is the same as buying dollars. Your response suggests that the only way to protect yourself is by holding cash and taking the loss as some sort of convenience cost. I'd say that there are other ways to hold liquid funds that try to comb…

I think you're comparing apples to oranges. Even Crypto's most ardent supporters would not disagree that prices are volatile - which means that it doesn't suit my stated requirement that there's never a bad time to liquidate the investment (if my roof springs a leak right as WhateverCoin takes a nosedive, I'm shit out of luck). I will admit that I've never invested in gold, but if you're talking buying actual literal…

It sounds like you missed the very end of my comment.

"For that, I'd suggest more than just buy/hold and really delve into the lending/borrowing markets in DeFi."

Crypto itself is volatile, however there are more complex (and potentially risky depending on how you look at it) ways of mitigating the volatility via lending/borrowing (and options for that matter) DeFi markets. All of which are easily liquidated, in seconds and low transaction costs (that are offset by earnings).

Of course a lot of this is still very early days in terms of knowledge and exposure. That's a big reason why you might not be aware of what's possible in DeFi.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#264

Post by latchkey »

ska wrote: post #259
latchkey wrote: post #257

Earlier quoted context omitted.

Gold was the first example I used, but you have now latched onto DeFi because well... omg, not that horrid crypto thing on HN!

That's not what I said, or meant. Both gold and crypto are poor vehicles for original commenter's need. My comment about defi was just because you characterized the stock market as "gambling" (somewhat unfair, but certainly can be), but for somehow failed to annotate defi as an alternative that is "even more so gambling"...

> Both gold and crypto are poor vehicles for original commenter's need.

Why is gold a poor vehicle?

> My comment about defi was just because you characterized the stock market as "gambling"

If humans could predict the future, we wouldn't have gambling. That's what makes the stock market a gamble. Can you offset that with derivatives, like options? Sure! That said, you're showing your naivety around DeFi with your response. Lending/borrowing isn't a gamble beyond the underling risks involved.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#265

Post by latchkey »

scubbo wrote: post #261
latchkey wrote: post #254

Earlier quoted context omitted.

As soon as you get a 'real job', you're immediately pushed on the concept that you're supposed to stuff money into a 401k and let other people manage it for you because you're too busy or this stuff is too hard and others can do a better job at it for you. Sure, that's something that you can do, or you can decide to put the time and effort into learning more about finance and control what you do with your money a bit…

Absolutely right, and I salute the impulse to educate folks that taking financial responsibility and autonomy is something that is possible and profitable! (While still disagreeing with you that crypto fits the requirement-profile of an emergency fund :P )

I just wish I had realized it earlier. I'd have never put any money into a 401k or the stock market. Worst performing asset class that I can imagine. Maybe some people are happy with the results they've gotten, but there is really a lot more you can do if you are willing to put the energy/time into it.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#266

Post by unfocused »

jedberg wrote: post #196
unfocused wrote: post #67

In Canada, there are lots of Savings accounts close to 4.5%. Here are examples: https://forums.redflagdeals.com/bank-invsavacct-4-50-real-hi...

Canada is another country with a separate banking system and has a different rate of inflation. Don't be confused just because both currencies are called "dollar".

True. Our inflation rates are not that far off though. We tend to be attached at the hip for many things, and Canada tends to follow US trends. The point being, there are savings accounts out there better than 1%, if you look for them.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#267

Post by ska »

latchkey wrote: post #264
ska wrote: post #259

Earlier quoted context omitted.

That's not what I said, or meant. Both gold and crypto are poor vehicles for original commenter's need. My comment about defi was just because you characterized the stock market as "gambling" (somewhat unfair, but certainly can be), but for somehow failed to annotate defi as an alternative that is "even more so gambling"...

> Both gold and crypto are poor vehicles for original commenter's need. Why is gold a poor vehicle? > My comment about defi was just because you characterized the stock market as "gambling" If humans could predict the future, we wouldn't have gambling. That's what makes the stock market a gamble. Can you offset that with derivatives, like options? Sure! That said, you're showing your naivety around DeFi with your res…

> Why is gold a poor vehicle?

Physical gold is too usually too illiquid. Digital gold solves that, but in general the short term volatility makes it imprudent for emergency funds.

> Lending/borrowing isn't a gamble beyond the underling risks involved.

This is called burying the lede, I believe. The underlying risks include significant structural risk on the institutions and vehicles themselves, not comparable at all to conventional banking.

NB: I was never suggesting stock market for emergency funds either. Investing is investing, and involves risks. If you want a useful distinction between investing and gambling, you would have both represented in stock market. I would suggest a more nuanced view would at least try to separate the two as useful concepts.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#268

Post by lavezzi »

kylehotchkiss wrote: post #173
hakunin wrote: post #114

So far each new Apple financial product makes me research and re-evaluate my options. When they announced their credit card, I got into "cash back" (thankful that I did), and ended up always getting good percentages back on every purchase. Apple Card was a jumping off point for further research. (For those curious, I ended up with Bank of America Premium Rewards at Platinum Honors tier + Amazon 5% card, Target 5% car…

Apple's cash back is OK. If you want to play and win the points game, Amex Gold for dining/groceries and Amex Green for all travel expenses can net you some nice travel options in the future. Getting 100,000 points (the rough equivalent of $1000 cash back) can get you some nice business class seats over the oceans to EU and Asia that can be worth 5-10x the cash value of the points.

Amex Green?

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#269

Post by johneth »

rchaud wrote: post #187
petesergeant wrote: post #134

Earlier quoted context omitted.

Having trouble squaring that with Wise, Revolut, Monzo, Starling, etc. I also don’t think I’ve ever visited Barclays — where I have my primary UK current account — in person ever, other than setting up the account ~10 years ago

Monzo is the only one in the list that has a banking license, i.e. legal right to take deposits and make loans. Not everyone is a digital native, even today. So when it comes to money matters, there will be a time when interacting with a virtual assistant is not going to do. I don't visit my bank either in most cases. However, I can if I need to. That's a different kind of peace of mind compared to a e-bank that has…

> Monzo is the only one in the list that has a banking license

Starling also has a banking license.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#270

Post by defgeneric »

plagiarist wrote: post #154
koolba wrote: post #142

Earlier quoted context omitted.

> I’m moving a bunch of cash over once I set it up US 3-month Treasuries are paying 5.125% and are State tax free so if you're not planning on touching the money in the near term that's an even better position. They're about as liquid as securities get so if you do need to sell them for cash there's not going to be any meaningful hit to their valuation. At most it'll be a couple bucks of transaction fees (if that) wh…

This is a dumb question, but how does an individual buy those? Through any regular brokerage?

https://treasurydirect.gov/
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