Author Topic: Joint Checking Accounts (Read 48188 times)

catastrophe · « **Reply #750 on:** August 23, 2018, 04:36:56 PM »

Stocks and bonds are quite liquid. So Vanguard, Betterment, Wealthfront, etc. You’d only need about 24-48 hour notice or so to sell & get that money back in your bank. Just make sure it’s a somewhat conservative allocation between stocks & bonds so it doesn’t drop like 20% on a random day you happen to need it.

420seriouscat69 · « **Reply #751 on:** August 23, 2018, 04:47:36 PM »

wetwillie · « **Reply #752 on:** August 23, 2018, 04:58:51 PM »

Quote from: meow meow on August 23, 2018, 04:16:06 PM

what are the best places to stash your emergency fund that make a decent return and are very liquid?

Gold

Kat Kid · « **Reply #753 on:** August 23, 2018, 05:32:31 PM »

I don’t think it is bad to keep $10,000 in a checking account. I’m pretty sure that putting $10,000 in a fully taxed stock fund for your emergency fund would not be very wise. You should be putting more of this money in retirement or other tax protected places.

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catastrophe · « **Reply #754 on:** August 23, 2018, 07:32:53 PM »

Both excellent points. If it's money you can go 30 or so years without touching, you should absolutely be putting it in a 401(k) or IRA. If it's money you think you might need in the next couple years and you've already got a safe $10k in the bank, I'd probably still go with a taxable investing account, but NOT at the expense of your retirement fund. It will bite you in the ass hard later on if you put off saving for retirement.

At a minimum, maxing out a Roth IRA each year ($5,500) is always better than putting that money in a taxable account or a bank account because you can withdraw the principal at any time. For other retirement accounts, you really just need to say "bye for now" to the money because there are penalties if you try to withdraw it before age 60. That's from memory so confirm that somewhere before doing it.

420seriouscat69 · « **Reply #755 on:** August 23, 2018, 08:43:41 PM »

Yeah, we’re definitely already putting into a 401K, but no match.

Kat Kid · « **Reply #756 on:** August 23, 2018, 08:57:49 PM »

Focus on your retirement accounts now in case you reproduce.

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wetwillie · « **Reply #757 on:** August 23, 2018, 09:08:04 PM »

The next thing you know KK is going to be saying debt is dumb and cash is king.

IPA4Me · « **Reply #758 on:** August 24, 2018, 05:16:28 AM »

Yuck in a no match 401K. Invest it all in your own index fund. If they ever offer a match, max the match and divert the rest to your index fund.

IPA4Me · « **Reply #759 on:** August 24, 2018, 08:04:27 AM »

Quote from: tdaver on August 23, 2018, 02:53:21 PM

Here’s another good reading assignment.

https://jlcollinsnh.com/stock-series/

sys is right, don’t pay anyone. Don’t let your best bud’s “investment guy” touch your money. Run from Edward Jones and the like.

I really enjoyed reading this. Made me feel better about what I'm doing with all that

.

420seriouscat69 · « **Reply #760 on:** August 24, 2018, 08:04:43 AM »

This company does a lot of great things, but that's the one that gets to me. Although, I believe a lot of companies have went away from matching, right?

IPA4Me · « **Reply #761 on:** August 24, 2018, 08:08:28 AM »

Quote from: WackyCat08 on August 24, 2018, 08:04:43 AM

This company does a lot of great things, but that's the one that gets to me. Although, I believe a lot of companies have went away from matching, right?

Eh. I've not worked for one in my career. New gig that I started last week gives 3% to my 5%. 100% vested immediately. 8% of income in 401K

Rest of my investments go to Roth and Conventional IRA.

I need to look at a Money Market for my cash.

wetwillie · « **Reply #762 on:** August 24, 2018, 08:09:31 AM »

Quote from: WackyCat08 on August 24, 2018, 08:04:43 AM

This company does a lot of great things, but that's the one that gets to me. Although, I believe a lot of companies have went away from matching, right?

It’s just a shell game of where the compensation comes from, you have to just take into account the whole package.

420seriouscat69 · « **Reply #763 on:** August 24, 2018, 08:12:30 AM »

Yeah, this job has done more for me than almost any other jobs combined since college, so i'll just get creative in how I invest my extra cash. Don't you think it's bizarre that a bank that Mrs. Wacky works for doesn't match?

Spracne · « **Reply #764 on:** August 24, 2018, 08:51:03 AM »

Quote from: WackyCat08 on August 24, 2018, 08:12:30 AM

Yeah, this job has done more for me than almost any other jobs combined since college, so i'll just get creative in how I invest my extra cash. Don't you think it's bizarre that a bank that Mrs. Wacky works for doesn't match?

You had a better job before/during college?

420seriouscat69 · « **Reply #765 on:** August 24, 2018, 09:03:01 AM »

Ha. Nah. Just meant since I got that piece of paper. Unless you count a traveling baseball team with a $50 a day per diem.

sonofdaxjones · « **Reply #766 on:** August 24, 2018, 02:07:43 PM »

Quote from: SkinnyBenny on May 05, 2014, 03:15:13 PM

Just got married and once my very lazy and inefficient state mails back the marriage certificate and my wife's name change thingy we'll do the joint checking account. Thinking Schwab because of the no fees ever thing and the brokerage thing but open to just about anything right now. Currently just shopping around. Married cats! Tell me which bank to go with and why.

Have a joint one, and then one of your own.

:thread

star seed 7 · « **Reply #767 on:** August 27, 2018, 05:54:19 PM »

Anyone used an online bank for a savings account?

wetwillie · « **Reply #768 on:** August 27, 2018, 06:39:42 PM »

Yea capital one and ally have pretty great stuff out there

star seed 7 · « **Reply #769 on:** August 28, 2018, 12:39:15 AM »

My car loan is with ally and that's who I was looking at for a bank.

IPA4Me · « **Reply #770 on:** August 28, 2018, 04:37:10 AM »

I use Navy Federal Credit Union. I haven't seen a physical building since 2001.

XocolateThundarr · « **Reply #771 on:** August 28, 2018, 10:41:17 AM »

Quote from: libliblibliblibliblib on August 28, 2018, 12:39:15 AM

My car loan is with ally and that's who I was looking at for a bank.

I have used Ally for about 6 years. They have been pretty great to work with.

star seed 7 · « **Reply #772 on:** August 28, 2018, 10:43:54 AM »

Sounds like this deal is done

catastrophe · « **Reply #773 on:** August 28, 2018, 11:26:17 AM »

Please report back what you go with. I put some money in a Chase savings account a while back to get $150 bonus cash and now they're laughing in my face with the crappy interest rate.

Phil Titola · « **Reply #774 on:** August 28, 2018, 02:00:45 PM »

Just moved to ally myself. Only annoying part seems I have to walk into drugstores for free ATMs.