Investing megathread extravaganza

[DaFace]

A place to talk about investing stuff.

[DaFace]

Originally Posted by ThaVirus

What HYSAs do y'all recommend?

Not a ton of differentiation among them IMO. They're savings accounts, so as long as the interest rates have historically been in line with others, it's likely fine.

I'm with Discover at the moment (4.30% APY as of today). Used Capital One back in the day. I've heard good things about Ally.

[ThaVirus]

Originally Posted by DaFace

Not a ton of differentiation among them IMO. They're savings accounts, so as long as the interest rates have historically been in line with others, it's likely fine.

I'm with Discover at the moment (4.30% APY as of today). Used Capital One back in the day. I've heard good things about Ally.

Ok, thank you. American Express sent me some mail about their HYSA with a nice graphic showing how stupid I am for keeping my money in a money market account gaining something ridiculous like .4% when they’re offering 4%.

I’m actually thinking about opening a Discover credit card so I’ll shop around a bit to see who is offering what..

EDIT: Now that I think about it, I think Cap One was running some promos offering a few hundred bucks depending on the amount you deposit as well.

[tredadda]

Originally Posted by -King-

Any thoughts on RIVN and TLRY? Rivian had good earnings (still went down lol) and they're looking more and more like a legit Tesla competitor. Thinking of loading up a bunch of shares. And TLRY has been getting pounded since IPO but just entered the alcohol business buying 8 beers from Anheuser Busch. Could be a real great move for them cornering the vice market lol

I am not sure about Rivian and if they can pull it off as they seem way behind Tesla and will have an uphill battle against other automakers who are developing EVs. I do think that if they can pull it off, their stock should shoot way up.

I read about TLRY today in the daily email Robinhood sends me. I think that is pretty cool. Interested to see how this pans out.

[Buehler445]

Originally Posted by ThaVirus

What HYSAs do y'all recommend?

I have some Vanguard IRA's so I opened a regular brokerage account through them and put it all in their settlement fund, which is in VMFXX and it is currently yielding 5.38%.

https://investor.vanguard.com/invest.../profile/vmfxx

I was trying to set up some other shit and it turns out my bank has a $20 fee to initiate an ACH. Vanguard initiates the push and pull, so it's free. It takes 2-3 days to clear, but I'm not in and out of savings a lot, so it hasn't been a big deal yet.

[Munson]

Originally Posted by ThaVirus

What HYSAs do y'all recommend?

Originally Posted by ThaVirus

Ok, thank you. American Express sent me some mail about their HYSA with a nice graphic showing how stupid I am for keeping my money in a money market account gaining something ridiculous like .4% when they’re offering 4%.

I’m actually thinking about opening a Discover credit card so I’ll shop around a bit to see who is offering what..

EDIT: Now that I think about it, I think Cap One was running some promos offering a few hundred bucks depending on the amount you deposit as well.

There are several places where you can get 5% or slightly above.

https://www.bankrate.com/banking/sav...ings-accounts/

[Titty Meat]

Soooo I have a question would appreciate ya'll to check my thinking and I'm sure I'll get flamed oh well....

I accepted a new job that pays 25k more than my current job. Only problem is it's about a 20 min drive and I don't have a car.

I've looked at cars my credit is trash and the interest rates blow as you can imagine.

SO I got on with Lyft. They have this program through Hertz where for $300 a week they rent you car. Unlimited miles, insurance is covered through Lyft/Hertz, maintaince as well. Lyft takes that $300 out of what you make + you have to do atheist 20 rides a week. Between my regular job and driving I'd imagine I'll be working at least 55 hours a week.

My plan is do this til I can put down a great down-payment on a car to have a minimal car payment and once I do that ditch the Lyft job.

[Buehler445]

Originally Posted by Titty Meat

Soooo I have a question would appreciate ya'll to check my thinking and I'm sure I'll get flamed oh well....

I accepted a new job that pays 25k more than my current job. Only problem is it's about a 20 min drive and I don't have a car.

I've looked at cars my credit is trash and the interest rates blow as you can imagine.

SO I got on with Lyft. They have this program through Hertz where for $300 a week they rent you car. Unlimited miles, insurance is covered through Lyft/Hertz, maintaince as well. Lyft takes that $300 out of what you make + you have to do atheist 20 rides a week. Between my regular job and driving I'd imagine I'll be working at least 55 hours a week.

My plan is do this til I can put down a great down-payment on a car to have a minimal car payment and once I do that ditch the Lyft job.

Sounds good.

Bust ass. Get yourself out of the hole, and move forward.

I don’t know anything about Lyft. You might get on Reddit. I know they have a Reddit for Lyft. You might be able to get some pointers there.

[KCUnited]

How many months at ~$1200/mo is it going to take you to get together a “great” down payment and repair your credit to get the loan terms you want?

That’s the comparison I’d be using vs taking a high interest loan to buy a car outright and build credit

[Titty Meat]

Originally Posted by Buehler445

Sounds good.

Bust ass. Get yourself out of the hole, and move forward.

I don’t know anything about Lyft. You might get on Reddit. I know they have a Reddit for Lyft. You might be able to get some pointers there.

I've talked to a few people they said my situation is definitely doable. I've read the reddit shit and joined a Facebook group it's just a bunch of people complaining about the pay. I think my situation is different I'm just maintaining having a ride where as they are trying to do it for a living

[Titty Meat]

Originally Posted by KCUnited

How many months at ~$1200/mo is it going to take you to get together a “great” down payment and repair your credit to get the loan terms you want?

That’s the comparison I’d be using vs taking a high interest loan a building credit

I'm thinking I'll be good to go after 1-2 months

[lewdog]

Originally Posted by Titty Meat

Soooo I have a question would appreciate ya'll to check my thinking and I'm sure I'll get flamed oh well....

I accepted a new job that pays 25k more than my current job. Only problem is it's about a 20 min drive and I don't have a car.

I've looked at cars my credit is trash and the interest rates blow as you can imagine.

SO I got on with Lyft. They have this program through Hertz where for $300 a week they rent you car. Unlimited miles, insurance is covered through Lyft/Hertz, maintaince as well. Lyft takes that $300 out of what you make + you have to do atheist 20 rides a week. Between my regular job and driving I'd imagine I'll be working at least 55 hours a week.

My plan is do this til I can put down a great down-payment on a car to have a minimal car payment and once I do that ditch the Lyft job.

That's not horrible but you need to look at what a down payment on a car in your price range might be.

Lets say you decide you are buying a $10k car. Spending almost 25% of that car value to rent a car for 2 months doesn't make much sense. If you don't have that much for a down payment and need those 2 months to save for one, then that makes the decision for you and you move ahead with your plan.

[Titty Meat]

Originally Posted by lewdog

That's not horrible but you need to look at what a down payment on a car in your price range might be.

Lets say you decide you are buying a $10k car. Spending almost 25% of that car value to rent a car for 2 months doesn't make much sense. If you don't have that much for a down payment and need those 2 months to save for one, then that makes the decision for you and you move ahead with your plan.

I hear ya 10k is what I'm thinking however he's my reservation on that. What kind of car am I getting for 10k? Like is it going to be a money pit where I'm spending 5-600 every few months? That doesn't seem like a good investment maybe I'm wrong?

[lewdog]

Originally Posted by Titty Meat

I hear ya 10k is what I'm thinking however he's my reservation on that. What kind of car am I getting for 10k? Like is it going to be a money pit where I'm spending 5-600 every few months? That doesn't seem like a good investment maybe I'm wrong?

Just get a reliable brand where engine issues are very unlikely. Other maintenance might come up but other things shouldn't be that expensive.

Honda or Toyota sedans are about as cost effective as you can get and engines that go forever. And if you can save more over the next few years, in 2 years you can upgrade your ride but at least you aren't putting in $2,400 just to "rent" a car for a few months.

[-King-]

Originally Posted by Titty Meat

Soooo I have a question would appreciate ya'll to check my thinking and I'm sure I'll get flamed oh well....

I accepted a new job that pays 25k more than my current job. Only problem is it's about a 20 min drive and I don't have a car.

I've looked at cars my credit is trash and the interest rates blow as you can imagine.

SO I got on with Lyft. They have this program through Hertz where for $300 a week they rent you car. Unlimited miles, insurance is covered through Lyft/Hertz, maintaince as well. Lyft takes that $300 out of what you make + you have to do atheist 20 rides a week. Between my regular job and driving I'd imagine I'll be working at least 55 hours a week.

My plan is do this til I can put down a great down-payment on a car to have a minimal car payment and once I do that ditch the Lyft job.

If you can afford $1200 a month on a car why don't you just get a shit box that will run for a few months?

[-King-]

Originally Posted by Titty Meat

I hear ya 10k is what I'm thinking however he's my reservation on that. What kind of car am I getting for 10k? Like is it going to be a money pit where I'm spending 5-600 every few months? That doesn't seem like a good investment maybe I'm wrong?

You can easily get a solid car for 10k. It'll be a mid 2000s but still decent.