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#1
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Hey Guys..... I'm back!!
![]() So, my wife and I are considering moving a lot of our "liquid" money into a higher interest paying online bank, such as ING Direct. We met with our financial advisor last night and he's a big fan. For instance, we're now earning a measly .5% interest in our "brick and mortor" bank. ING Direct is offering 4.5%. That's a huge difference. (BTW, I was a bank teller in the late 80's. The same "Brick and mortor" bank then offered 6% interest on no-minimum checking accounts!!) Anyone have any good/bad experiences with these internet banks?
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Current: 2014 VW Tiguan SEL 4Motion 43,000 miles. 2016 Hyundai Santa Fe Sport (wife's). Past: 2006 Jetta TDI 135,970 miles. Sold Nov. '13. 1995 E-320 Special Edition. 220,200 miles. Sold Sept. '07. 1987 190-E 16 valve. 153,000 miles. Sold Feb. '06. 1980 300-D 225,000 miles. Donated to the National Kidney Foundation. 1980 240-D manual, 297,500 miles. Totaled by inattentive driver. |
#2
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Oh, did you go somewhere?
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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century ![]() OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles |
#3
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Jes kiddin'
Welcome back, Stefano. How you be?
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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century ![]() OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles |
#4
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Quote:
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1982 240 D, 308,000 - 321,127 miles (sold) 1982 300 TD,166,500 - 226,000 miles 1998 E 320, 120,000 - 144,000 miles 2005 C 230 K, 26,000 - 77,000 miles (sold) |
#5
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AFAIK ING Direct is FDIC insured, excellent bank.
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2020 GMC Sierra Denali 2007 Tiara 3200 |
#6
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The Federal Deposit Insurance Corporation (FDIC) monitors both types of institutions. Internet banks that qualify as thrift institutions may be regulated by the Office of Thrift Supervision (OTS). Those that are considered national banks are regulated by the Office of the Comptroller of the Currency (OCC). The FDIC's Institution Directory lists which federal agency is the primary regulator for specific banks, including Internet banks. http://www2.fdic.gov/idasp/index.asp
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Paul S. 2001 E430, Bourdeaux Red, Oyster interior. 79,200 miles. 1973 280SE 4.5, 170,000 miles. 568 Signal Red, Black MB Tex. "The Red Baron". |
#7
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The devil is in the details. Many "net banking" operations charge some hefty fees for any transactions with a human being.
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#8
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Doing quite well, thanks.
![]() Yeah, we're in the tedious process of combining all of our assets and determining where to put some of our investment monies. We do plan to buy a house (the condo's not really big enough at 1250sq ft.) in two years, so that's why we're looking into higher interest rates for our savings that are also safe and liquid.
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Current: 2014 VW Tiguan SEL 4Motion 43,000 miles. 2016 Hyundai Santa Fe Sport (wife's). Past: 2006 Jetta TDI 135,970 miles. Sold Nov. '13. 1995 E-320 Special Edition. 220,200 miles. Sold Sept. '07. 1987 190-E 16 valve. 153,000 miles. Sold Feb. '06. 1980 300-D 225,000 miles. Donated to the National Kidney Foundation. 1980 240-D manual, 297,500 miles. Totaled by inattentive driver. |
#9
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Comingling of assets: My .02 is that it is waaaaaay too early to do this as given your ages you probably each have substantial seperate estates and your marriage is new. You should each seek independant legal advise on this decision, in my not so humble opinion not to be taken as legal advise. ![]() |
#10
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Quote:
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Current: 2014 VW Tiguan SEL 4Motion 43,000 miles. 2016 Hyundai Santa Fe Sport (wife's). Past: 2006 Jetta TDI 135,970 miles. Sold Nov. '13. 1995 E-320 Special Edition. 220,200 miles. Sold Sept. '07. 1987 190-E 16 valve. 153,000 miles. Sold Feb. '06. 1980 300-D 225,000 miles. Donated to the National Kidney Foundation. 1980 240-D manual, 297,500 miles. Totaled by inattentive driver. |
#11
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Quote:
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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century ![]() OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles |
#12
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If you plan to buy a house in two years, then I would recommend putting your money into CD's.
You can ladder your money into CD's, with all of them maturing at the end of two years. Put a portion of your money into the CD's at 3 month intervals, with all of them coming due no later than 2 years. This way you are not only getting a higher return on your money, but it is still FDIC insured, and you are not tying up all of your money with the same maturity. And every 3 months, a portion of your money comes due, so you can either reinvest it for a short term (3 mos., 6 mos., 1 year, etc.), or keep it stashed in a money market fund.
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Paul S. 2001 E430, Bourdeaux Red, Oyster interior. 79,200 miles. 1973 280SE 4.5, 170,000 miles. 568 Signal Red, Black MB Tex. "The Red Baron". |
#13
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Charles Schwab Bank has been excellent.
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89 300E 79 240D 72 Westy 63 Bug sunroof 85 Jeep CJ7 86 Chevy 6.2l diesel PU "The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." Marcus Aurelius |
#14
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And six months before you decide to get serious about finding a house, you should talk to a good mortgage broker. Have them check your credit and see if their are any issues that would prevent you from getting a mortgage, they can also give you an idea of what you can afford.
Notice good is underlined.
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2020 GMC Sierra Denali 2007 Tiara 3200 |
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