http://socialize.morningstar.com/NewSocialize/asp/FullConv.asp?forumId=F100000015&convId=169644 No, it's not a 100% a day get rich quick scam, but a good way to eek out a few more bucks from your savings.
sounds simple enough.....basically the low start-up of $1,000 a week for a minimum of 4 weeks.......but If I had a couple extra grand hanging around in my bank account I would have a much faster suby I'm afraid....
Heh. When you get to my advanced age you'll start appreciating being able to sleep well at night knowing there's enough $ in the bank that you'll be ok should something happen much more than having a fast car.
Today's auction closed at 4.471% investment rate for 28 day bills. (Up from last week's 4.456%.) I'm happy.
Well, it's not like you're risking something on a funky investment; treasury bills are about as safe as you can get--even moreso than banks. Look at it this way... if yields start going down, all you do is stop investing in them and after 28 days all your money's cycled out and back into your high yield savings/checking account. It's a win-win.
My apologies, "sketchy" was perhaps not the right word. I'm just always skeptical about things like this (regardless of source - i.e. government bonds). Maybe I should have said something along the lines of "man, I wish I would've known about this a little earlier". I'll start after a few more paychecks give me a little more breathing room.
Well, six months ago this wasn't a particularly good strategy since the yield was down in the 3s. Also, a lot of people don't bother since the actual dollar gains aren't great; if you have $10K sitting in your bank at 2% that's $200/year in interest; if you can squeeze an average of say 4.5% out of treasuries, that's $450/year. Of course, you'd pay both federal and state tax on the $200, but only federal tax on the $450, so that makes a difference too, to the tune of $10-15 or so. As you can see it's not a get rich quick scheme by any means, but I look at it like this: if I spend 20 minutes setting something up that'll make my money grow a little bit faster it's time well spent. I'm in pretty good financial shape these days but it's taken years of careful research and investing to get to that point though.
4.630% this week. Learned something too: if you want to reinvest the money immediately, you can have the money return to a C of I account at the treasury. They will clear deposited funds before investing the same day, so your 28 day bill will get put into your C of I account and reinvested in another 28 day bill the very same day... if you link only to an external bank you have to wait until next week since ACH transfers take a couple of days.