With this terrible recession in front of us, have you thought about getting your money out of the bank? (taxes, rate)

[mathjak107]

Originally Posted by Truth11

For now...no one knows where the next hit will be.

i only use a bank for 10% of assets . all other portfolio cash are in treasuries

[MinivanDriver]

Originally Posted by no kudzu

I'm confused about FDIC. If there is a depression, how can the FDIC protect my money? Is it foolish to consider getting it all out into cash? I have savings accounts and CDs in several banks.

Dadgum. Take a pill. If you're that concerned, take out a supplemental FDIC policy.

[1insider]

Has anything we've been warned about in this forum ever happened? The investing forum has warned us about 25 of the last two crashes.

[mathjak107]

Originally Posted by 1insider

Has anything we've been warned about in this forum ever happened? The investing forum has warned us about 25 of the last two crashes.

we have gone through every vision here someone can dream up that would create some financial disaster .

most of the predictors are gone from here today

[moguldreamer]

Originally Posted by mathjak107

no , i am fine with chase

Originally Posted by mathjak107

i only use a bank for 10% of assets . all other portfolio cash are in treasuries

Question.

Have you successfully linked Chase with Treasury Direct to purchase treasuries? I have not been able to do so.

Are you buying treasuries through Treasury Direct?

[mathjak107]

Originally Posted by moguldreamer

Question.

Have you successfully linked Chase with Treasury Direct to purchase treasuries? I have not been able to do so.

Are you buying treasuries through Treasury Direct?

no , i don’t use treasury direct ..

if i did i would try to link it through my fidelity account


i much prefer the convenience of vgst , shy and TLT .

the interest is also reported as dividends which help tax wise since i have a lot of carry over to use from when we closed the real estate LLC

i also use only fidelity treasury money markets that use no repos like fdlxx

[moguldreamer]

Originally Posted by mathjak107

no , i don’t use treasury direct ..

if i did i would try to link it through my fidelity account


i much prefer the convenience of vgst , shy and TLT .

the interest is also reported as dividends which help tax wise since i have a lot of carry over to use from when we closed the real estate LLC

i also use only fidelity treasury money markets that use no repos like fdlxx

Thanks.

So you don't buy actual treasuries; you buy VGST, SHY and TLT.

Have you tried linking your Fidelity account to Treasury Direct?

[mathjak107]

no , i have never had a desire to do so .

i much prefer the ease of the etfs plus the way the distributions come in as dividends not as interest

[SuiteLiving]

Originally Posted by mathjak107

no , i have never had a desire to do so .

i much prefer the ease of the etfs plus the way the distributions come in as dividends not as interest

What is the difference between these dividends and interest?

[mathjak107]

fidelity reports them on 1099D …
they show as qualified dividends so they are taxed at a lower rate.

interest is not