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saving for a house so going to take some gains...where to stick it?

Posted on 5/29/13 at 8:10 pm
Posted by The Hamburglar
McDonaldland
Member since Jan 2005
3354 posts
Posted on 5/29/13 at 8:10 pm
The wife and I are saving up for a down payment for a house. I'm going to pull some money out of the market and take some gains. I'm thinking I'm going to put it in a Schwab 'high yield' (LOL) savings account. Sucks that you have to open an account by filling out an application and send it in. Does anyone else have any suggestions with a good place stable place to save the money before I jump with Schwab?
Posted by Fat Bastard
alter hunter
Member since Mar 2009
91452 posts
Posted on 5/29/13 at 8:15 pm to
buttcoins and dinars
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
70096 posts
Posted on 5/29/13 at 8:21 pm to
Cyberbeans
Posted by magiLSU
Prairieville
Member since Jan 2004
2392 posts
Posted on 5/29/13 at 8:33 pm to
Find a community bank that offers reward checking accounts. You will have to meet some requirements each month, but some banks are offering 2-3% on reward accounts.
Posted by The Hamburglar
McDonaldland
Member since Jan 2005
3354 posts
Posted on 5/29/13 at 8:35 pm to
mag, any suggestions? I live in NOLA but am open to any bank I can do online.
Posted by magiLSU
Prairieville
Member since Jan 2004
2392 posts
Posted on 5/29/13 at 8:39 pm to
Neighbors offers reward checking at 2-3% with a fairly low limit around 10K. United community (ascension) offers 2-3% up to 25K.
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 5/29/13 at 8:40 pm to
So you have an account with Schwab that you are selling some positions. Is this correct? How much money are we talking? You can use pbsmx, which is what I use as an alternative to MM. I also use lccix, but I am not sure you can buy it through Schwab.
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
70096 posts
Posted on 5/29/13 at 9:02 pm to
quote:

So you have an account with Schwab that you are selling some positions. Is this correct? How much money are we talking? You can use pbsmx, which is what I use as an alternative to MM. I also use lccix, but I am not sure you can buy it through Schwab.



No Flame, but why PBSMX? It's a loaded fund isn't it? And LCCIX has a very high entry point, unless I'm missing something
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 5/29/13 at 9:22 pm to
quote:

So you have an account with Schwab that you are selling some positions. Is this correct? How much money are we talking? You can use pbsmx, which is what I use as an alternative to MM. I also use lccix, but I am not sure you can buy it through Schwab.


You're right, they do not compare to cyberbeans. My bad, carry on.

On certain platforms pbsmx is not loaded and lccix does not have a high entry point. That is why is said mentioned whether Schwab will allow it. I buy it both with no problems.
Posted by Powerman
Member since Jan 2004
174358 posts
Posted on 5/29/13 at 9:23 pm to
quote:

mag, any suggestions? I live in NOLA but am open to any bank I can do online.



LINK

Check on bankrate to see what they list

I remember seeing a website once that was all about checking accounts but I can't remember the name of it

It was something checking.com and it listed out all the highest yield accounts
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
70096 posts
Posted on 5/29/13 at 9:40 pm to
quote:

lccix does not have a high entry point.


$2,000,000 Minimal Initial Investment, Do you mean LCCMX?
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 5/29/13 at 9:55 pm to
Not sure about lccmx. I buy lccix, the institutional share class. Certain trading platforms allow this at lower entry levels. As far as cyberbeans, I can't help you. My platform isn't at that level yet.
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
70096 posts
Posted on 5/29/13 at 9:56 pm to
quote:

As far as cyberbeans, I can't help you. My platform isn't at that level yet.





Few are my friend, few are
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 5/29/13 at 9:57 pm to
True dat.
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