10-4He is talking about a 1 year CD, gain taxed as ordinary income.....not a traditional IRA
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10-4He is talking about a 1 year CD, gain taxed as ordinary income.....not a traditional IRA
I did that (and still do, but not so many anymore).Good advice.
But not everyone is in the same situation of a single CD to keep after.
Fast forward into your 90s and keep up with your laddered CDs. You’re constantly moving them around chasing better rates and then ask yourself where your CDs are on any given day.
Let me tell you about a bank rip off. Take your pick between SunTrust, Wells Fargo or BB&T and they all do this. Take a check in there to cash with THEIR BANK NAME on it. Then they ask if you have an account with them. Hell no! And don't want one! Okay that's when they tell you it's gonna be $7.00 to cash the check. AND to rub a little salt in it...BB&T told me they needed a SECOND PHOTO ID. What the ****!? I got so loud and Redneck about that folks around me were getting nervous looking.Banks seem to be a rip-off. Ive got a money market account that I’ve made less than $3 in 7 months on $7500. Gonna move it soon.
Yeah but back then $5.00 and $6.00 an hour for pay was pretty big money back then, so all in all the folks with high home loans was really paying for the big CD rates. My first house was 12% in 1979 and was not simple interest.I miss Jimmy Carter's term and the 15+% cd rates.
'Course my friends with the 17% home loans at the time, not so much.
They are all scumbags. Due to the recent repeal of the Glass-Steagall Act, banks are now investment firms disguised to look like banks. When you give them your money, it is no longer yours.Let me tell you about a bank rip off. Take your pick between SunTrust, Wells Fargo or BB&T and they all do this. Take a check in there to cash with THEIR BANK NAME on it. Then they ask if you have an account with them. Hell no! And don't want one! Okay that's when they tell you it's gonna be $7.00 to cash the check. AND to rub a little salt in it...BB&T told me they needed a SECOND PHOTO ID. What the ****!? I got so loud and Redneck about that folks around me were getting nervous looking.
Wells Fargo is a known bunch of crooks and thieves. I used to have to cash paychecks with them when we were in Darien. So that meant I had to drive to downtown Brunswick. They have one branch there and one on St Simons. I went through the $7.00 strong arm routine with the teller at the downtown branch. And that smartass little ***** said "Well you could open an account here and avoid the fee." So I said " Well where is yall's Darien branch located?" She said " We don't have a branch in Darien." So I naturally responded with "Well then why in the hell would I wanna open an account with a bunch of known crooks that ain't even got a location in my town?" I can get downright ugly when it comes to dealing with Megabanks.
I need to check the library for a book about how the Federal Reserve was created. The title was something like The Creature from Jekyll island. It seems as though the big money guys from early in the last century all had a secret meeting at Jekyll around the middle to the end of the Great Depression to come up with this great money printing machine that's not a government agency and answers to no one. Hey what could go wrong?They are all scumbags. Due to the recent repeal of the Glass-Steagall Act, banks are now investment firms disguised to look like banks. When you give them your money, it is no longer yours.
Sir Josiah Stamp, president of the Rothschild Bank of England and the second richest man in Britain in the 1920s, said the following in 1927 at the University of Texas:
“The modern Federal Reserve banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in inequity and born in sin. Bankers own the Earth. Take their wealth away from them but leave them the power to create money, and with a flick of a pen, they will create enough money to buy it back again. Take this great power away from them and all great fortunes like mine will disappear, for then this would be a better and happier world to live in. But if you want to continue to be the slaves of bankers and pay the cost of your own slavery, then let the Federal Reserve bankers continue to create money and control credit.”
yep, that's it.I need to check the library for a book about how the Federal Reserve was created. The title was something like The Creature from Jekyll island. It seems as though the big money guys from early in the last century all had a secret meeting at Jekyll around the middle to the end of the Great Depression to come up with this great money printing machine that's not a government agency and answers to no one. Hey what could go wrong?
Let me tell you about a bank rip off. Take your pick between SunTrust, Wells Fargo or BB&T and they all do this. Take a check in there to cash with THEIR BANK NAME on it. Then they ask if you have an account with them. Hell no! And don't want one! Okay that's when they tell you it's gonna be $7.00 to cash the check. AND to rub a little salt in it...BB&T told me they needed a SECOND PHOTO ID. What the ****!? I got so loud and Redneck about that folks around me were getting nervous looking.
Wells Fargo is a known bunch of crooks and thieves. I used to have to cash paychecks with them when we were in Darien. So that meant I had to drive to downtown Brunswick. They have one branch there and one on St Simons. I went through the $7.00 strong arm routine with the teller at the downtown branch. And that smartass little ***** said "Well you could open an account here and avoid the fee." So I said " Well where is yall's Darien branch located?" She said " We don't have a branch in Darien." So I naturally responded with "Well then why in the hell would I wanna open an account with a bunch of known crooks that ain't even got a location in my town?" I can get downright ugly when it comes to dealing with Megabanks.