6 Figures 6 Certs Random Thoughts Thread

mannyrs13

Compound Kingpin
Supporter
Joined
May 8, 2012
Messages
39,645
Reputation
15,702
Daps
87,645
Reppin
Focusville, USA
We finally made it. :wow:Just waiting on transunion to catch up.

txUVtdw.jpg
 

Skooby

Alone In My Zone
Supporter
Joined
Sep 30, 2012
Messages
25,223
Reputation
10,267
Daps
59,794
Reppin
The Cosmos
I'm opening an account with them soon

I've been trying to spread the gospel. Even if they were to lower their rates, the fact that interest compounds daily rather than monthly makes all the difference.
Been with them since they were GMAC bank. Online banking is the way to go and they are always offering the best interest rates!
 

Obreh Winfrey

Truly Brehthtaking
Supporter
Joined
Nov 18, 2016
Messages
20,852
Reputation
25,262
Daps
131,942
Care to explain that in laymans terms cuz I get paid interest once a month so if it's supposed to be daily then :violent:
On monthly compounding account, they'll pick out a day (probably the last of the month), take a snapshot of your balance, then calculate your interest and pay you. On a daily compounding account they'll take that snapshot everyday, calculate interest, add it to your balance (on the back end), then at the end of the month you'll get that dividend payout. With Ally I think they fudge it a little and they some sort of calculation based on the average balance you have per day. So if your savings is in flux then you could wind up messing with your average. If you have the mobile app you can witness this with the Daily Interest Accrued metric. If you check regularly you'll see it rise when you deposit, or fall when you withdraw. I do some bill pay from mine so I see both regularly.
 

NeilCartwright

All Star
Joined
Nov 7, 2014
Messages
3,417
Reputation
871
Daps
10,538
Reppin
Atlanta
Question 6 Figure Brehs and Brehettes,

After maxing your employer's 401k match and contributing the max into your roth IRA what are some other good investments to look into? ETF? Individual stocks etc?

Ideally I want something I can contribute to for the next 1.5 years before I move out of the country. When I move out of the country I'd like to use my capital for working capital instead of investments. I'd just want the investments to run on auto-pilot for the duration I'm out of the country.
They got total stock market ETFs, Technology sector ETFs, etc.

I like those. Spread out to minimize risk and you can almost bet on 10% returns yearly. Factor in compound interest and you in a good spot
 

mannyrs13

Compound Kingpin
Supporter
Joined
May 8, 2012
Messages
39,645
Reputation
15,702
Daps
87,645
Reppin
Focusville, USA
On monthly compounding account, they'll pick out a day (probably the last of the month), take a snapshot of your balance, then calculate your interest and pay you. On a daily compounding account they'll take that snapshot everyday, calculate interest, add it to your balance (on the back end), then at the end of the month you'll get that dividend payout. With Ally I think they fudge it a little and they some sort of calculation based on the average balance you have per day. So if your savings is in flux then you could wind up messing with your average. If you have the mobile app you can witness this with the Daily Interest Accrued metric. If you check regularly you'll see it rise when you deposit, or fall when you withdraw. I do some bill pay from mine so I see both regularly.
I see what you mean. I put money in every week when I get paid so it gotta flux. So it'll flux but not by much. So right now it says like 1.01 on that daily interest but it can go up if I put like 100 each week so then they just get the total each day and it comes out to like $30 a month or whatever it is and that's what they pay out then. Ok makes sense. Hopefully I can increase my contributions again soon since I had dropped them so I can bring my daily interest up.
 

Sonny Bonds

Superstar
Supporter
Joined
Apr 24, 2014
Messages
4,629
Reputation
926
Daps
13,285
My job is trash.

I was supposed to be working remotely today, but didn't know it. I just found out 5 minutes ago. Out of a 5 man team, 3 of us didn't know we were supposed to be working today.

I really hope I got that job I interviewed for.
 

phcitywarrior

Superstar
Supporter
Joined
Nov 19, 2016
Messages
13,263
Reputation
4,550
Daps
32,157
Reppin
Naija / DMV
I swear it's like my job can sense I'm interviewing elsewhere :heh:. I had planned for this week to be easier as it concerns the work I have. I get in today and I have meetings on meetings.

I'm only trynna stay late if it means me prepping for my job interview.
 
Top