Not true. My “reward” is sleeping sound knowing I’m self sufficient and NOBODY is rinsing me for profit. Good sleep is better than another pile of zeros that I don’t have the time to spend.
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Here's How the Apple Card's New Savings Rate Compares to Competitors
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Seems to me you are worried about losing sleep over trivial everyday things.
As for the safe with cash, that’s what folks who are trying to avoid declaring income and paying taxes do. Is that the impetus for your approach to finance?
Nope. Been self employed since I left school and the work I do is impossible to not declare as it’s tied very close with the local council. I’m just not a mug. Oh and thanks for the laughing emojis to my posts. Jealousy does harm some individuals more than others lol.
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It’s not jealousy by any stretch of the imagination.
But you’re a UK dude here in a discussion about no notice high yield US interest bearing investments talking about putting your assets in a safe because why?
It boggles the mind how you would give up tax free on the first 1000£ of interest income just because you are fixated on your safe.
Your story is odd. Being debt free is a laudable thing but the rest is odd. You claim not to be a mug but are in effect mugging yourself by foregoing low risk growth opportunities.
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You’d have to deposit the max $250,000 to see a difference in interest of $5,000 per year between the low and high entry on this list. The vast majority of people who deposit around $2500 in a savings account would therefore only see a difference of $50 per year between the high and low yields.
So, again, switching savings banks based on these rates isn’t really worth your time.
So, again, switching savings banks based on these rates isn’t really worth your time.
In the name of accuracy, 4.5% is the APY (Annual Percentage Yield), not the APR. The APY includes compounding, so if you put $1,000 in the account, you will have earn $45 in one year (assuming no extra deposits or rate changes).
Why would I need to put my money into a bank? The interest is meaningless as I already have a comfortable life and need for nothing. My bills are so low it’s laughable (solar panels and battery array so no utilities, £612 a year water rates and then I have food to pay for (again cheaper as my sister has a big allotment and I don’t pay for veg or eggs all year round)). I don’t drive a lot but when I do it’s quite often in Europe so the fuel is cheaper. I did look into having more solar to charge an electric car but i didn’t have the room needed and the motorhome is far too heavy to convert to electric. My reason for commenting is that I see this, literally, every single day. People hung up on crypto, yields, profit, interest rates. Just get your monthly house bills down as much as possible and put the spare money into a safe and all the financial industry becomes meaningless.
Maybe you could donate the excess profit to charity. Probably didn’t occur to you.
Compounding is key.
Many only compound weekly, monthly, quarterly, annually. Apple is doing daily (30x faster vs monthly) the fastest possible.
As I said, compounding is already included in the APY, so how often they compound doesn't change how much you make.
I don’t donate to Charities as it’s nearly always donating to the CEO’s retirement. I do however give money away at times to people who I know are desperate. Not a loan. A gift.
Agreed, compounding rate is baked in to
Not you, but some folks don’t know difference between APR and APY.
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Just read the fine print, this could be a deal breaker for some as it's quite a limitation.
Individual transfers must be between $1 and $10,000. You can also only transfer up to $20,000 from the account every seven days.
Individual transfers must be between $1 and $10,000. You can also only transfer up to $20,000 from the account every seven days.
That’s not true. Those terms only apply to transfers to Apple Cash.
Oops haha distracted typing on my part. I’ve corrected my earlier post.Hah! Again, it's baked into the APY, not the APR.
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If it comes to a situation where gold becomes the last man standing, it will be worthless. You'll need food, clean water and weapons to protect yourself from people who didn't prepare and want to take yours.
Are you living off the financial grid because you want to or because you have to? I find it nearly impossible to believe anyone could be in your situation by hoarding cash and watching Brexit inflation eat it away day by day. Sounds like your employer pays you in cash, or you operate a cash enterprise, since you don't have a bank. So what is it you are engaged in, anyway? Something Scotland Yard or the HMRC might be interested in?I don’t lose. I don’t lose a thing. I don’t have credit cards, loans, debts of any kind. I want something, I go to my safe. My kids have no debts of any kind and dip into the safe and leave a little note saying how much they’ve taken. It’s worked out well. My 3 kids have no debts of any kind, same for me, same for my wife and I’ve even let some of the immediate family, that i trust, use some and replace it. I’m uninterested in playing the system to gain money when I can be self sufficient and live MY WAY. People are free to disagree but they, mostly, are the very people that shuffle balances from one 0% apr credit card to the next to the next to the next. I have better things to do with my time than researching which card gives me the most of this and that. I’m self sufficient, owe nobody a single penny and have enough money in my safe (which would take anybody else a long time to find) to last me and my wife/kids a looooong time. In fact I’ve just dropped another £2k in it this morning
Not true. Look at countries in South America or even Turkey that have had to deal with high- or hyper-inflation. Gold has served them well for saving. In the US we have an artificially inflated stock market that cannot survive with central bank manipulation, otherwise here too gold would be king.
I'll concede that past performance is not indicative of future performance. But I'm sure glad that I didn't buy gold instead of stocks & index funds over the last 45 years. And I'm sticking with that successful model. 45 years ago, January 1979, Gold was $1,020.94/oz. Today, it's $2,047.40. You'd think "Hey, 100% appreciation, that's great!" However, the S&P 500 index was 448.79 in 1979. It is 4927.57. So instead of doubling our money with gold, a passive S&P index fund would have returned 10 TIMES the initial investment, net of expenses.
So I'm going to pass on the shiny stuff.
Let's face it, you just want a digital equivalent of 'under the table' lol.
Always the same suggestion when somebody doesn’t rely on the financial market lol. I’m paid by bank, have a bank account, pay very few bills through my bank account and the money left over I draw out every time money sits there. Why is that so alien? It’s only alien to those totally hooked on zeros and finance. As I’ve said previously, it’s IMPOSSIBLE for me to be some kind of criminal given that the very people I sub to are the people that would know. Try it some time, come off the treadmill. You might enjoy the exercise.