Author Topic: Where to put $60,000  (Read 6639 times)

Offline elikay

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Where to put $60,000
« on: January 10, 2011, 12:15:46 PM »
I know someone who just won a $60,000 settlement, anyone know of a high yielding, FDIC insured account? Any other options?

Offline Jakob

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Re: Where to put $60,000
« Reply #1 on: January 10, 2011, 12:39:59 PM »
I know a Nigerian prince that can turn that money into billions, he just needs $500 to pay the "barrister" first, then $800 for the documents, then....

Offline elikay

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Re: Where to put $60,000
« Reply #2 on: January 10, 2011, 01:08:37 PM »
FDIC insured? ;-)

Offline MnM1130

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Re: Where to put $60,000
« Reply #3 on: January 10, 2011, 01:39:15 PM »
In my sock drawer.... i dont mind holdin it for them.

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Re: Where to put $60,000
« Reply #4 on: January 10, 2011, 03:01:25 PM »
In my sock drawer.... i dont mind holdin it for them.

Doesn't beat inflation.

There are bonds with good ratings that'll beat inflation (at least the CPI), but they aren't FDIC insured.

If you're willing to risk it, I'd put 1/3 in precious metals, 1/3 in REITs, and 1/3 in blue-chip mutual funds.
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Offline how

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Re: Where to put $60,000
« Reply #5 on: January 10, 2011, 05:13:05 PM »
buy *wood points :D

Offline Dan

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Re: Where to put $60,000
« Reply #6 on: January 10, 2011, 05:57:06 PM »
If you want to be 100% safe keep it in a liquid bankdirect fdic insured checking account and earn 72,000 AA miles per year tax-free with it  :D
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline elikay

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Re: Where to put $60,000
« Reply #7 on: January 10, 2011, 07:32:44 PM »
If you want to be 100% safe keep it in a liquid bankdirect fdic insured checking account and earn 72,000 AA miles per year tax-free with it  :D
Actually looks interesting I'll have to look into it further!

Offline aussiebochur

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Re: Where to put $60,000
« Reply #8 on: January 10, 2011, 07:37:38 PM »
Down payment on a home, perhaps?

Offline Dan

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Re: Where to put $60,000
« Reply #9 on: January 10, 2011, 07:43:25 PM »
Actually looks interesting I'll have to look into it further!
PM me if you want a link to get 2,000 miles for opening an account.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline elikay

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Re: Where to put $60,000
« Reply #10 on: January 10, 2011, 08:17:39 PM »
and you ;-)
I'll let u know then.

Offline Dan

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Re: Where to put $60,000
« Reply #11 on: January 10, 2011, 08:41:49 PM »
and you ;-)
I'll let u know then.
Well, yes, I'd get 1,000 :)

I actually have a nice chunk of change parked with BankDirect as well.  1.2 AA miles and no tax is a good deal with interest rates as low as they are now and the funds are liquid so when rates go up Ill pull out.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Yellow

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Re: Where to put $60,000
« Reply #12 on: January 10, 2011, 08:53:25 PM »
If you want to be 100% safe keep it in a liquid bankdirect fdic insured checking account and earn 72,000 AA miles per year tax-free with it  :D
Is this account free?

Offline Dan

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Re: Where to put $60,000
« Reply #13 on: January 10, 2011, 09:21:45 PM »
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

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Re: Where to put $60,000
« Reply #14 on: January 10, 2011, 10:33:48 PM »
Well, yes, I'd get 1,000 :)

I actually have a nice chunk of change parked with BankDirect as well.  1.2 AA miles and no tax is a good deal with interest rates as low as they are now and the funds are liquid so when rates go up Ill pull out.

If AA miles get devalued you're at a loss. But considering the dollar might devalue too (due to inflation...), I guess it's a fair bet.
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Offline Avid Reader

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Re: Where to put $60,000
« Reply #15 on: January 11, 2011, 01:23:23 AM »

Offline Dan

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Re: Where to put $60,000
« Reply #16 on: January 11, 2011, 01:28:19 AM »
No more min. to waive fees?
You're right , I think there is a minimum to waive fees.
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Offline aussiebochur

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Re: Where to put $60,000
« Reply #17 on: January 11, 2011, 01:37:18 AM »
You're right , I think there is a minimum to waive fees.
Yep, $2500 min. balance to waive $15 fee.

Offline Deal Guy

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Re: Where to put $60,000
« Reply #18 on: January 11, 2011, 01:38:30 AM »
Just for an example. If someone put in this $60,000 into bankdirect and pulled his money after 6 months, how many aa points would he have earned? What about after one year?

Offline Dan

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Re: Where to put $60,000
« Reply #19 on: January 11, 2011, 01:47:48 AM »
Just for an example. If someone put in this $60,000 into bankdirect and pulled his money after 6 months, how many aa points would he have earned? What about after one year?
1 mile per $10 per month.
So $1,000 for a month=100 miles.
$1,000 for a year=1,200 miles.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.