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Financial Planning - Financial planning in general. (Moderated)
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Posted by on November 12, 2006, 3:44 pm
do substantially larger amounts of money placed with one bank yield
substantially higher yields of interest? Does that logic work?
Ideals
1) 10% or more reasonable, relistic and possible?
2) Actual bank suggestions?
If possible and you can completely answer this question with an
approximate level of certanty, please quantify at different financial
scales, like $1000, $10,000, $100K, $1M.... what money ought to
command. :)
thx! :)
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Posted by John A. Weeks III on November 12, 2006, 4:25 pm
plasticrules@gmail.com wrote:
> do substantially larger amounts of money placed with one bank yield
> substantially higher yields of interest? Does that logic work?
Yes, larger amounts can command higher interest rates. But you
are talking fractions of a percentage point, maybe a 1/4 point
or so at most.
> 1) 10% or more reasonable, relistic and possible?
Not at all. 5% maybe in this market.
> 2) Actual bank suggestions?
Check bankrate.com or check with your stock broker to find
brokered CD's.
-john-
--
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John A. Weeks III 952-432-2708 john@johnweeks.com
Newave Communications http://www.johnweeks.com
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Posted by joetaxpayer on November 12, 2006, 4:25 pm
plasticrules@gmail.com wrote:
> do substantially larger amounts of money placed with one bank yield
> substantially higher yields of interest? Does that logic work?
>
> Ideals
>
> 1) 10% or more reasonable, relistic and possible?
> 2) Actual bank suggestions?
Nope. You can get slightly higher rates for more money, but nothing like
what you are asking.
Risk follows return, that why there's the expression "risk-free rate of
return" which is approx. the rate of a 1 year t-bill.
Bank CDs are now 5.2% give or take. You may find higher for long term CD
(5 yrs or more), but 10% is higher than what banks get for 30 year
mortgages. Even junk bonds aren't quite that high right now.
If I were offered 10% for my money, I'd run the other way, it would
likely be a scam, not a legitimate offer.
JOE
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Posted by Mark Bole on November 12, 2006, 4:51 pm
joetaxpayer wrote:
>
> plasticrules@gmail.com wrote:
>
>> do substantially larger amounts of money placed with one bank yield
>> substantially higher yields of interest? Does that logic work?
[...]
> Nope. You can get slightly higher rates for more money, but nothing like
> what you are asking.
For loyal customers, you can often ask for and get maybe a quarter point
higher interest on a CD than the advertised rate, especially if you can
show some other institution advertising higher.
At higher levels of saving, you can get more "free" perks such as safe
deposit boxes, investment newsletters and personal consultations,
discounted brokerage fees, notary, wire transfer services, and so on.
> If I were offered 10% for my money, I'd run the other way, it would
> likely be a scam, not a legitimate offer.
Unless, of course, it were a 50% "immediate return on investment" such
as bozzle money from your employer. ;-)
-Mark Bole
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Posted by on November 14, 2006, 12:03 pm
Ah, great info. guys. So, it's true that $100,000 brought to a bank
vs. $1MM will have little if no sway beyond maybe a quarter point + for
a CD?
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