Weekend Listening: NPR Planet Money Summer School Investing Edition

Posted on August 27, 2021 // 3 Comments

In 2020, the NPR Planet Money podcast did a series called Summer School that focused on economics concepts. You can still listen to those, but the 2021 Summer School series is about investing. Hardcore personal finance geeks might come away bored, but I enjoy hearing how they try to simplify and and explain these complex topics in an approachable manner. If I remember, I plan to have my kids as teens listen to these episodes. Here are the podcasts so far, which include excerpts from earlier Planet Money episodes:

  • Planet Money Summer School 1: The Stock Market
  • Planet Money Summer School 2: Index Funds & The Bet
  • Planet Money Summer School 3: Smooth Spending & The 401K
  • Planet Money Summer School 4: Bonds & Becky With The Good Yield
  • Planet Money Summer School 5: Bubbles, Bikes, & Biases

The bubble episode has a good story about bicycles (not tulips!). When I’m in an efficient mood, I enjoy listening with the Overcast app (iOS only) at 1.25x speed with “Smart Speed” that skips over silences (and somehow speeds up even more during ads) to save time. I believe Pocket Casts also has similar features, is available on both iOS and Android, is free, and is apparently partially-owned by NPR recently sold to Automattic (parent of WordPress).

Filed Under: Deals & Offers, Investing //

Chewy National Dog Day Sales: Spend $100, Get $30 Gift Card + 10% Off All Gift Cards

Posted on August 24, 2021 // 3 Comments

Online pet store Chewy.com is offering a variety of National Dog Day promotions:

  • Spend $100, Get a $30 gift card on select Dog products. Decent selection of a variety of dog products. Look to see if your normal purchases are included.
  • 10% off all Chewy eGift Cards. Save up to $100 on $1,000 of gift cards. Discount shows at checkout. Valid until 8/28/2021 12:00AM EST, while supplies last. Limit 1 gift card per order, limit 1 order per customer. Promotion limit of $1,000 on gift card purchases per customer.
  • Spend $75, Get a $15 gfit card on select Cat products. They didn’t forget the cats!

They also have 35% off your first Autoship order, which is similar to Amazon Subscribe & Save where you’ll then save an ongoing 5%-10% if you continue. However, you can cancel at any time, even after the first order. Flea medicine, big bag of dog/cat food, bulk pack of treats, etc.

I still keep “baby pictures” of my now 12-year-old dog on my phone, although the lock screen has been usurped by the human babies:

Filed Under: Deals & Offers //

Free Grubhub+ Membership For Rest of 2021 (Targeted)

Posted on August 22, 2021 // 3 Comments

Grubhub is offering free Grubhub+ membership for the rest of 2021 (usually $9.99 a month) – and Seamless+ – for targeted customers, although many others will still get 30 days of free Grubhub+ membership. In addition, this offer does not require a credit card and will NOT auto-renew at the end of the period. Hat tip to Dansdeals. Grubhub+ includes:

  • Unlimited free delivery from from nearly 200,000 restaurants ($12 minimum order).
  • 10% back on pickup orders. Earn 10% back in GH+ Cash on eligible pickup orders to use towards your next pickup order.
  • Exclusive member discounts featuring free food, dollars-off and more from popular restaurants.

You might also be able to get a free Grubhub+ membership via the free Lyft Pink membership (reg. $199 a year) included free with the Chase Sapphire Reserve card. This adds another potentially valuable perk to offset that high annual fee. Once you have both Lyft Pink and Grubhub accounts, link them together and activate here.

If you have not joined Grubhub yet, you can first get $10 off your first Grubhub order of $15+ if you join via my referral link. I will get food credits as well. Thanks if you use it!

Finally, get up to 11% cash back on your first Grubhub order and 2% cash back on future orders via Rakuten app. (You must order via their app.) The fact that Rakuten gives cash back on Grubhub purchases make it an easy way to trigger the $30 bonus for new Rakuten users.

Filed Under: Deals & Offers //

Turning Small Deals into a $100,000 Nest Egg

Posted on August 17, 2021 // 14 Comments

There is a story circulating about MIT students offered $100 in free Bitcoin back in 2014. A few quickly spent it on dinner at a local sushi restaurant. Some kept it all, now worth about $14,000. Some agreed to help fellow students set up a crypto wallet to hold their Bitcoin, in exchange for some of it. 1 BTC was worth about about $300 back then, and about $45,000 now. Those sushi dinners ended up being quite expensive, but can you really blame them? How many of us went out and backed the truck up on Bitcoin in 2014?

However, that got me thinking about the various deals that I post on this blog. I don’t know what you do for work, but I trust that you work hard and balance your levels of passion, income, and ability. I can’t help you much with your career, but these deals are a way to find common ground, as they are available to the great majority of readers. You may think of them as “free sushi dinners”, but they can equally be a powerful source of retirement savings and income.

1. Consider a target of $500 monthly profit coming from whatever deals are currently available. It could be higher interest on savings accounts, bank sign-up bonuses, credit card cash back, credit card sign-up bonuses, brokerage bonuses, US Mint purchases, savings on your normal everyday purchases, solo-business promotions, and so on. This is a relatively aggressive target, but if you consider everything together and average it out, it can add up quickly. I’ve been doing similar deals since I was 21 years old making $20,000 a year with $30,000 in student loans.

2. $500 a month = $6,000 a year = Maxed-out Roth IRA contribution. The 2021 contribution limit for Roth IRAs in $6,000 a year, with an additional $1,000 for those aged 50+. I always find this a very handy target to help me focus my profit from the “deals and offers” game. If you have a partner, going for $12,000 combined is an even better target. I’ve made every effort to do the max for 20 years now.

3. Invest in simple, transparent, productive assets. Some people are great with real estate, others reinvest in their own private small businesses. We should appreciate that anyone with $1,000 can open a IRA at Vanguard with minimal fees and invest in the all-in-one Vanguard Target Retirement Fund, which is a low-cost, diversified mix of global stocks and bonds. You don’t need to gamble on options at Robinhood, put too much in Bitcoin lottery tickets, or get insider access to a trendy “alternative/long/short/volatility-managed” hedge fund. Put it in, turn on automatic reinvestment of dividends, and walk away. Inside a Roth IRA, you don’t have to worry about taxes on dividends or capital gains distributions.

4. Repeat for 10 years. If you did this from 2011-2020, you’d have over $100,000. Every January, I show how regular, steady investments over time can end up with excellent results. Here is a table from What If You Invested $10,000 Every Year For the Last 10 Years? 2021 Edition:

Global stock markets are up even further in 2021 (VTIVX is up another 12% YTD as of this writing), but we can simply stick with these numbers. The chart assumes a $10,000 annual investment ($833 a month), but we can easily scale it down to our $6,000 annual investment.

If you invested $6,000 a year into the Vanguard Target Retirement 2045 Fund, every year for the past 10 years (2011-2020), you would have ended up with a total balance of $110,822. (If two people did this, they would have over $220,000!) These are real-world numbers based on $500 a month, not a theoretical result from a calculator. You can argue the details, but even with only $250 a month, you’d have ended up with over $50,000. (You would have done even better going all-in with an S&P 500 index fund as well, but this is an easy, set-and-forget choice including global stocks and bonds.)

I admit, I like to play the game of “winning” easy/free money. I find it much more enjoyable than any video game. I also try to only pick and choose those that offer a good payout/effort ratio, usually over the equivalent of $100 an hour. Now, these small deals will never replace a successful career, which can supercharge your savings into the realm of financial independence. However, this is yet another reminder that small amounts, however attained, can add up to a surprisingly big number over time when invested productively and left alone. I have the Vanguard IRA statements to prove it. 😀

Filed Under: Deals & Offers, Inspirational, Investing, Retirement //

PFS Buyers Club: New US Mint Coin Deal on 8/12 ($60+ Net Profit, August 2021 #3)

Posted on August 11, 2021 // 11 Comments

Another new coin deal on Thursday, August 12th, 2021. PFS Buyers Club has another coin deal on a limited-edition 2021 American Eagle Silver Coin. They will pay you a guaranteed fixed profit of $61 plus any credit card rewards. See details below.

Tomorrow! August 12th, at 12:00PM ET, the US Mint will be releasing a limited edition American Eagle Silver Coin. There is a purchase limit of three coins per household, so you’re able to buy three coins. The cost of each Silver Eagle coin is $73.00, and when adding the $4.95 shipping charge, each order will total $223.95. PFS will be offering a commission of $61.05 for each order for a total payout of $285.00.

If you are new to this type of deal please the previous similar (but expired!) deal for more background information and answers to most common questions. I have now done multiple deals with them and been paid as promised with no issues.

If you want to jump on this, you can sign up to join PFS Buyers Club here. PFS will provide *very* detailed instructions. Read them ahead of time, and follow them carefully to help you buy the coin before it sells out. If you use that link as a first-time buyer, I will receive a referral fee the first time you successfully sell your coin for a profit. Thanks for those that use it, and for those that already used it in the past. I will be opting in myself as well.

Filed Under: Credit Cards, Deals & Offers //

Best Interest Rates on Cash – August 2021 Update

Posted on August 10, 2021 // Leave a Comment

Here’s my monthly roundup of the best interest rates on cash as of August 2021, roughly sorted from shortest to longest maturities. I look for lesser-known opportunities to earn 3% APY and higher while still keeping your principal FDIC-insured or equivalent. Check out my Ultimate Rate-Chaser Calculator to see how much extra interest you’d earn by moving money between accounts. Rates listed are available to everyone nationwide. Rates checked as of 8/10/2021.

Fintech accounts
Available only to individual investors, fintech companies often pay higher-than-market rates in order to achieve fast short-term growth (often using venture capital). I define “fintech” as a software layer on top of a different bank’s FDIC insurance. These do NOT require a certain number debit card purchases per month. Read about the types of due diligences you should do whenever opening a new bank account.

  • 3% APY on up to $100,000. The top rate is still 3% APY for July through September 2021 (actually up to 3.5% APY with their credit card), and they have not indicated any upcoming rate drop. HM Bradley requires a recurring direct deposit every month and a savings rate of at least 20%. See my HM Bradley review.
  • 3% APY on 10% of direct deposits + 1% APY on $25,000. One Finance lets you earn 3% APY on “auto-save” deposits (up to 10% of your direct deposit, up to $1,000 per month). Separately, they also pay 1% APY on up to another $25,000 with direct deposit. New customer $50 bonus via referral. See my One Finance review.
  • 3% APY on up to $15,000. Porte requires a one-time direct deposit of $1,000+ to open a savings account. New customer $50 bonus via referral. See my Porte review.
  • 1.20% APY on up to $50,000. OnJuno recently updated their rate tiers, while keeping their promise to existing customers with a grandfathered rate. If you don’t maintain a $500 direct deposit each month, you’ll still earn 1.20% on up to $5k. See my updated OnJuno review.

High-yield savings accounts
While the huge megabanks pay essentially no interest, it’s easy to open a new “piggy-back” savings account and simply move some funds over from your existing checking account. The interest rates on savings accounts can drop at any time, so I list the top rates as well as competitive rates from banks with a history of competitive rates. Some banks will bait you with a temporary top rate and then lower the rates in the hopes that you are too lazy to leave.

  • T-Mobile Money is still at 1.00% APY with no minimum balance requirements. The main focus is on the 4% APY on your first $3,000 of balances as a qualifying T-mobile customer plus other hoops, but the lesser-known perk is the 1% APY for everyone. Thanks to the readers who helped me understand this. There are several other established high-yield savings accounts at closer to 0.50% APY.

Short-term guaranteed rates (1 year and under)
A common question is what to do with a big pile of cash that you’re waiting to deploy shortly (just sold your house, just sold your business, legal settlement, inheritance). My usual advice is to keep things simple and take your time. If not a savings account, then put it in a flexible short-term CD under the FDIC limits until you have a plan.

  • No Penalty CDs offer a fixed interest rate that can never go down, but you can still take out your money (once) without any fees if you want to use it elsewhere. Marcus has a 7-month No Penalty CD at 0.45% APY with a $500 minimum deposit. Ally Bank has a 11-month No Penalty CD at 0.50% APY for all balance tiers. CIT Bank has a 11-month No Penalty CD at 0.30% APY with a $1,000 minimum deposit. You may wish to open multiple CDs in smaller increments for more flexibility.
  • Lafayette Federal Credit Union has a 12-month CD at 0.80% APY ($500 min). Early withdrawal penalty is 6 months of interest. Anyone can join this credit union via partner organization ($10 one-time fee).

Money market mutual funds + Ultra-short bond ETFs
Many brokerage firms that pay out very little interest on their default cash sweep funds (and keep the difference for themselves). Unfortunately, money market fund rates are very low across the board right now. Ultra-short bond funds are another possible alternative, but they are NOT FDIC-insured and may experience short-term losses at times. These numbers are just for reference, not a recommendation.

  • The default sweep option is the Vanguard Federal Money Market Fund which has an SEC yield of 0.01%. Vanguard Cash Reserves Federal Money Market Fund (formerly Prime Money Market) currently pays 0.01% SEC yield.
  • Vanguard Ultra-Short-Term Bond Fund currently pays 0.27% SEC yield ($3,000 min) and 0.37% SEC Yield ($50,000 min). The average duration is ~1 year, so your principal may vary a little bit.
  • The PIMCO Enhanced Short Maturity Active Bond ETF (MINT) has a 0.22% SEC yield and the iShares Short Maturity Bond ETF (NEAR) has a 0.41% SEC yield while holding a portfolio of investment-grade bonds with an average duration of ~6 months.

Treasury Bills and Ultra-short Treasury ETFs
Another option is to buy individual Treasury bills which come in a variety of maturities from 4-weeks to 52-weeks. You can also invest in ETFs that hold a rotating basket of short-term Treasury Bills for you, while charging a small management fee for doing so. T-bill interest is exempt from state and local income taxes. Right now, this section isn’t very interesting as T-Bills are yielding close to zero!

  • You can build your own T-Bill ladder at TreasuryDirect.gov or via a brokerage account with a bond desk like Vanguard and Fidelity. Here are the current Treasury Bill rates. As of 8/10/2021, a new 4-week T-Bill had the equivalent of 0.05% annualized interest and a 52-week T-Bill had the equivalent of 0.08% annualized interest.
  • The Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) has a -0.07% SEC yield and the SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BIL) has a -0.10% (!) SEC yield. GBIL appears to have a slightly longer average maturity than BIL.

US Savings Bonds
Series I Savings Bonds offer rates that are linked to inflation and backed by the US government. You must hold them for at least a year. If you redeem them within 5 years there is a penalty of the last 3 months of interest. The annual purchase limit is $10,000 per Social Security Number, available online at TreasuryDirect.gov. You can also buy an additional $5,000 in paper I bonds using your tax refund with IRS Form 8888.

  • “I Bonds” bought between May 2021 and October 2021 will earn a 3.54% rate for the first six months. The rate of the subsequent 6-month period will be based on inflation again. More info here.
  • In mid-October 2021, the CPI will be announced and you will have a short period where you will have a very close estimate of the rate for the next 12 months. I will have another post up at that time.
  • See below about EE Bonds as a potential long-term bond alternative.

Prepaid Cards with Attached Savings Accounts
A small subset of prepaid debit cards have an “attached” FDIC-insured savings account with exceptionally high interest rates. The negatives are that balances are severely capped, and there are many fees that you must be careful to avoid (lest they eat up your interest). There is a long list of previous offers that have already disappeared with little notice. I don’t personally recommend nor use any of these anymore, as I feel the work required and risk of messing up exceeds any small potential benefit.

  • Mango Money pays 6% APY on up to $2,500, if you manage to jump through several hoops. Requirements include $1,500+ in “signature” purchases and a minimum balance of $25.00 at the end of the month.

Rewards checking accounts
These unique checking accounts pay above-average interest rates, but with unique risks. You have to jump through certain hoops which usually involve 10+ debit card purchases each cycle, a certain number of ACH/direct deposits, and/or a certain number of logins per month. If you make a mistake (or they judge that you did) you risk earning zero interest for that month. Some folks don’t mind the extra work and attention required, while others would rather not bother. Rates can also drop suddenly, leaving a “bait-and-switch” feeling.

  • The Bank of Denver pays 2.00% APY on up to $25,000 if you make 12 debit card purchases of $5+ each, receive only online statements, and make at least 1 ACH credit or debit transaction per statement cycle. The rate recently dropped. If you meet those qualifications, you can also link a Kasasa savings account that pays 1.00% APY on up to $50k. Thanks to reader Bill for the updated info.
  • Devon Bank has a Kasasa Checking paying 2.50% APY on up to $10,000, plus a Kasasa savings account paying 2.50% APY on up to $10,000 (and 0.85% APY on up to $50,000). You’ll need at least 12 debit transactions of $3+ and other requirements every month.
  • Presidential Bank pays 2.25% APY on balances up to $25,000, if you maintain a $500+ direct deposit and at least 7 electronic withdrawals per month (ATM, POS, ACH and Billpay counts).
  • Evansville Teachers Federal Credit Union pays 3.30% APY on up to $20,000. You’ll need at least 15 debit transactions and other requirements every month.
  • Lake Michigan Credit Union pays 3.00% APY on up to $15,000. You’ll need at least 10 debit transactions and other requirements every month.
  • Find a locally-restricted rewards checking account at DepositAccounts.

Certificates of deposit (greater than 1 year)
CDs offer higher rates, but come with an early withdrawal penalty. By finding a bank CD with a reasonable early withdrawal penalty, you can enjoy higher rates but maintain access in a true emergency. Alternatively, consider building a CD ladder of different maturity lengths (ex. 1/2/3/4/5-years) such that you have access to part of the ladder each year, but your blended interest rate is higher than a savings account. When one CD matures, use that money to buy another 5-year CD to keep the ladder going. Some CDs also offer “add-ons” where you can deposit more funds if rates drop.

  • Abound Credit Union has a special 13-month Share Certificate at 0.80% APY ($500 min), a special 47-month Share Certificate at 1.45% APY ($500 min), and a 59-month Share Certificate at 1.35% APY ($500 min). Early withdrawal penalty is 1 year of interest (and only with the consent of the credit union, so be aware). Anyone can join this credit union via partner organization ($10 one-time fee).
  • NASA Federal Credit Union has a special 49-month Share Certificate at 1.15% APY ($10,000 min). Early withdrawal penalty is 1 year of interest. Anyone can join this credit union by joining the National Space Society (free). Note that NASA FCU may perform a hard credit check as part of new member application.
  • Lafayette Federal Credit Union has a 5-year CD at 1.26% APY ($500 min). Early withdrawal penalty is 6 months of interest. Anyone can join this credit union via partner organization ($10 one-time fee).
  • You can buy certificates of deposit via the bond desks of Vanguard and Fidelity. You may need an account to see the rates. These “brokered CDs” offer FDIC insurance and easy laddering, but they don’t come with predictable early withdrawal penalties. Right now, I see a 5-year CD at 1.05% APY. Be wary of higher rates from callable CDs listed by Fidelity.

Longer-term Instruments
I’d use these with caution due to increased interest rate risk, but I still track them to see the rest of the current yield curve.

  • Willing to lock up your money for 10 years? You can buy long-term certificates of deposit via the bond desks of Vanguard and Fidelity. These “brokered CDs” offer FDIC insurance, but they don’t come with predictable early withdrawal penalties. You might find something that pays more than your other brokerage cash and Treasury options. Right now, I see a 10-year CD at 1.55% APY vs. 1.45% for a 10-year Treasury. Watch out for higher rates from callable CDs from Fidelity.
  • How about two decades? Series EE Savings Bonds are not indexed to inflation, but they have a unique guarantee that the value will double in value in 20 years, which equals a guaranteed return of 3.5% a year. However, if you don’t hold for that long, you’ll be stuck with the normal rate which is quite low (currently 0.10%). I view this as a huge early withdrawal penalty. But if holding for 20 years isn’t an issue, it can also serve as a hedge against prolonged deflation during that time. Purchase limit is $10,000 each calendar year for each Social Security Number. As of 8/10/2021, the 20-year Treasury Bond rate was 1.90%.

All rates were checked as of 8/10/2021.

Filed Under: Banking, Deals & Offers, Investing //

PFS Buyers Club: New US Mint Coin Deal ($150+ Net Profit, August 2021 #2)

Posted on August 8, 2021 // 12 Comments

Another new coin deal on Tuesday, August 10th, 2021. PFS Buyers Club has another coin deal on two limited edition Silver Dollars (Morgan and Peace). See details below.

Background (skip if already familiar). The US Mint regularly releases limited-edition coins to collectors. The coin sets are often limited to one per household, but later often end up selling for more than the initial cost (similar to concert tickets or limited-edition Nike shoe drops) PFS Buyers Club is a coin broker that recruits regular folks to buy their allotted coin set with a set markup amount, with the agreement that they will sell it directly to PFS Buyers Club.

Deal details: On Tuesday, August 10th at 12:00 pm Noon Eastern Time, there is a new fixed profit opportunity. Two limited edition Morgan Silver Dollars are being released, with each one having a purchase limit of three per household (2 coins x 3 sets of each = 6 coins max). The cost of each Silver Dollar is $85.00, times six coins plus $4.95 shipping charge, for a total of $514.95.

Total net profit opportunity of $155+. PFS will pay you a fixed commission of $145.05 for a full 6-coin order, on top of your cost for the set. ($660 total.) You’ll also earn credit card rewards on your ~$500 purchase (worth another ~$10 here at 2% cash back), or also possibly satisfying the requirements for some $500+ value credit card bonuses. This makes the net profit at least $150+.

In addition, this is the third coin deal from PFS regarding Morgan Silver Dollars. If you complete all three with them, they will add on an extra $100 cash bonus.

I have had reports of the Fidelity 2% back card not awarding points on US Mint purchases. I have used a BofA card (earning an effective 2.6% back with Preferred Rewards) without issue. AmEx says they don’t award points for bullion and precious metal, but in my experience US Mint purchases are not coded as bullion or precious metal. You may still choose to avoid them to be safe.

Note that the eventual value of the set may exceed that elsewhere – you may be able to get more on eBay, for example – but if you want to make that bet, don’t promise to sell to PFS Buyers Club. Just buy it on your own and try to sell it yourself. Keep in mind that eBay seller fees can be 10% of the selling price, you run the risk of the buyer claiming you sent them a box of pennies, and you’ll be responsible for other costs like the proper shipping with adequate insurance. The PFS Buyers Club price includes a free prepaid mailing label (including insurance) and they will pay you via eCheck (no fees), paper check, or PayPal.

Here are the two coins for this deal: Morgan 2021 Silver Dollar and Peace 2021 Silver Dollar.

Note: This coin is not expected to ship until October, but they also won’t charge your card until October. But be around that you’ll need to be around to receive the package and then drop it off at FedEx.

My past experience. I used PFS back in March for the first time and in July most recently, and everything went smoothly and I was paid my money in full without issue. The amount of communication was great and better than expected; I was kept up-to-date every step of the way. The total time commitment was about an hour total (30 minutes each deal) for $700+ profit, including the stop at the Fedex store to drop off the box with prepaid label. The eCheck option worked great – I printed the check out at home and deposited immediately via mobile app. PFS has a very solid reputation online, and I referred several blog readers last time and did not receive a single complaint. The primary issue is that the coins usually sell out quick, so you have to be fast.

If you want to jump on this, you can sign up to join PFS Buyers Club here. Sometimes these deals fill up, so I would sign-up and opt-in sooner rather than later. You can still opt out of the deal until an hour prior to the coins going on sale. PFS will provide *very* detailed instructions. Read them ahead of time, and follow them carefully to help you buy the coin before it sells out. If you use that link as a first-time buyer, I will receive a referral fee the first time you successfully sell your coin for a profit. Thanks for those that use it, and for those that already used it in the past. I will be opting in myself as well.

Filed Under: Credit Cards, Deals & Offers //

Better Mortgage: $2,000/$6,000 Credit with American Express, $100 Best Rate Guarantee

Posted on August 3, 2021 // 10 Comments

Better is an online mortgage lender that promises a fast pre-approval process, no application fees, origination fees, and faster closing. Right now, American Express cardholders have a special offer with a $2,000 statement credit (conforming) or $6,000 (jumbo) when you use their link. Thanks for reader Brad for the tip.

Get an American Express Statement credit after you refinance or finance your home purchase with Better Mortgage. $2,000 for conforming or $6,000 for jumbo mortgages. Lock your rate by 9/13/22 and close by 12/17/22 to qualify for the statement credit — for eligible Card Members only

Better also has a $100 Better Price Guarantee (not restricted to AmEx cardholders):

We’ll match any valid competitor’s offer, and credit you an extra $100. If we can’t, the $100 is yours to keep.

If you think another lender has a more competitive price, just send us their loan estimate within one business day from the date it was issued. We’ll either do better by at least $100, or send that $100 to you; you win either way.

There are various mortgage “closing credit” offers out there, but keep in mind that the most important thing is your total cost, a combination of total closing costs and ongoing monthly payment. The easiest way to compare is to go far enough to receive a Loan Estimate from a variety of sources. (You’ll also need a loan estimate for the Better rate guarantee.) Beyond the major comparison websites, you may still benefit from a local human broker or directly checking with credit unions including Pentagon Federal and Navy Federal (if eligible).

If you can get Better to match or beat the best rate/cost combination, then this $2,000/$6,000 would be gravy on top! Here are some customer reviews of Better.

Filed Under: Deals & Offers, Real Estate //

PFS Buyers Club: New US Mint Coin Deal (Now $155+ Net Profit, August 2021)

Posted on August 1, 2021 // 21 Comments

(Updated: The commission has increased to $145.05, a $60 increase from the initial offer.)

Another new coin deal August 3rd, 2021. PFS Buyers Club has another coin deal on two limited edition Morgan Silver Dollars. See details below.

Background (skip if already familiar). The US Mint regularly releases limited-edition coins to collectors. The coin sets are often limited by household, but end up worth more than the initial cost. PFS Buyers Club is a website broker that recruits regular folks to buy their allotted coin set with a set markup amount, with the agreement that they will sell it directly to PFS Buyers Club. For example, you might pay $300 for a coin and they’ll agree to pay you $350 for it (including prepaid mailing label) – a fixed profit of $50.

I believe the closest analogy is to other collectibles like limited-edition Nike shoe drops. The US Mint benefits from the scarcity, and can continue to sell these collectibles at a profit far above the minting cost.

Deal details: On Tuesday, August 3rd at 12:00 pm Noon Eastern Time, there is a new fixed profit opportunity. Two limited edition Morgan Silver Dollars are being released, with each one having a purchase limit of three per household (2 coins x 3 sets of each = 6 coins max). The cost of each Silver Dollar is $85.00, times six coins plus $4.95 shipping charge, for a total of $514.95.

Total net profit opportunity of $155+. PFS will pay you a fixed commission of $85.05 now $145.05 for a full 6-coin order, on top of your cost for the set. ($660 total.) You’ll also earn credit card rewards on your ~$500 purchase (worth another ~$10 here at 2% cash back), or also possibly satisfying the requirements for some $500+ value credit card bonuses. This makes the net profit at least $155.

I have had reports of the Fidelity 2% back card not awarding points on US Mint purchases. I have used a BofA card (earning an effective 2.6% back with Preferred Rewards) without issue. AmEx says they don’t award points for bullion and precious metal, but in my experience US Mint purchases are not coded as bullion or precious metal. You may still choose to avoid them to be safe.

Note that the eventual value of the set may exceed that elsewhere – you may be able to get more on eBay, for example – but if you want to make that bet, don’t promise to sell to PFS Buyers Club. Just buy it on your own and try to sell it yourself. Keep in mind that eBay seller fees can be quite high, you run the risk of the buyer claiming you sent them a box of pennies, and you’ll be responsible for other costs like the proper shipping with adequate insurance. The PFS Buyers Club price includes a free prepaid mailing label (including insurance) and they will pay you via eCheck (no fees), paper check, or PayPal.

Here are the two coins: Morgan 2021 Silver Dollar w/ D Mark and Morgan 2021 Silver Dollar w/ S Mark. In May, they offered the Morgan coins with the O and CC Mint marks.

Note: This coin is not expected to ship until October, but they also won’t charge your card until October. But be around that you’ll need to be around to receive the package and then drop it off at FedEx.

My past experience. I used PFS back in March for the first time, and everything went smoothly and I was paid my money in full without issue. The amount of communication was great and better than expected; I was kept up-to-date every step of the way. The total time commitment was about 30 minutes for $400+ profit, including the stop at the Fedex store to drop off the box with prepaid label. The eCheck option worked great – I printed the check out at home and deposited immediately via mobile app. PFS has a very solid reputation online, and I referred several blog readers last time and did not receive a single complaint. The primary issue is that the coins usually sell out quick, so you have to be fast.

If you want to jump on this, you can sign up to join PFS Buyers Club here. Sometimes these deals fill up, so I would sign-up and opt-in sooner rather than later. You can still opt out of the deal until an hour prior to the coins going on sale. PFS will provide *very* detailed instructions. Read them ahead of time, and follow them carefully to help you buy the coin before it sells out. If you use that link as a first-time buyer, I will receive a referral fee the first time you successfully sell your coin for a profit. Thanks for those that use it, and for those that already used it in the past. I will be opting in myself as well.

Filed Under: Credit Cards, Deals & Offers //

PFS Buyers Club: New US Mint Coin Arbitrage Opportunity ($300+ Net Profit, July 2021)

Posted on July 27, 2021 // 41 Comments

New deal July 29th, 2021. The US Mint regularly releases limited-edition coins to collectors. The coin sets are often limited to one per household, but end up worth more than the initial cost. PFS Buyers Club is a website broker that recruits regular folks to buy their allotted coin set with a set markup amount, with the agreement that they will sell only to PFS Buyers Club. For example, you might pay $300 for a coin and they’ll agree to pay you $350 for it – a fixed profit of $50.

On Thursday, July 29th at 12:00 pm Noon Eastern Time, there is a new guaranteed profit opportunity. A limited edition American Eagle Four-Coin Set will be released then, with a purchase limit of one per household. The cost of the Four-Coin Set should be either $4,962.50 or $5,055.00 (depends on the spot price of Gold on 7/28). Shipping will cost $4.95.

PFS will pay you a fixed commission of $200.05 for each Four-Coin Set, on top of your cost for the set.

You’ll also earn credit card rewards on your ~$5,000 purchase (worth another ~$100 here at 2% cash back), or also possibly satisfying the requirements for some $500+ value credit card bonuses. This makes the total net profit safely over $300.

Note that the eventual value of the set may exceed that elsewhere – you may be able to get more than $200 extra for each coin on eBay, for example – but if you want to make that bet, don’t promise to sell to PFS Buyers Club. Just buy it on your own and try to sell it yourself. Keep in mind that eBay seller fees can be quite high, and you’ll be responsible for other costs like the proper shipping with adequate insurance. PFS Buyers Club will send you a free prepaid mailing label (including insurance) and pay you via eCheck, paper check, or PayPal.

My past experience. I used PFS back in March for the first time, and everything went smoothly and I was paid my money in full without issue. The amount of communication was great and better than expected; I was kept up-to-date every step of the way. The total time commitment was about 30 minutes for $400+ profit, including the stop at the Fedex store to drop off the box with prepaid label. The eCheck option worked great – I printed the check out at home and deposited immediately via mobile app. PFS has a very solid reputation online, and I referred several blog readers last time and did not receive a single complaint. (Some folks were unable to buy the coins from the US Mint before it went out of stock.)

Here is the product page: American Eagle 2021 Gold Proof Four-Coin Set. Here is a direct quote of the deal text:

On July 29th – at 12:00PM ET, the US Mint will be releasing a limited edition American Eagle Four-Coin Set. The set has a purchase limit of one per household, so you’re able to buy one set.

The cost of the Four-Coin Set should be either $4,962.50 or $5,055.00. (The Mint will only be releasing the exact price for these products on Wednesday the 28th, and it will depend on the spot price of Gold over the day.)

Each purchase will also have a $4.95 shipping charge.

You will have each order shipped to your own house or office and then ship it to PFS Buyers Club with a prepaid shipping label that we will provide for you.

PFS will be offering a commission of $200.05 for each Four-Coin Set.

This is also a great opportunity to earn valuable points/miles on your credit cards, as well as meet any spending thresholds.

If you want to jump on this, you can sign up to join PFS Buyers Club here. Sometimes these deals fill up, so I would sign-up and opt-in sooner rather than later. You can still opt out of the deal until an hour prior to the coins going on sale. They will provide very detailed instructions. Follow them carefully, and it was pretty easy for me as a first-time buyer. If you use that link, I will receive a referral fee the first time you successfully sell your coin for a profit. Thanks for those that use it, and for those that already used it last time! I will be opting in myself as well.

Filed Under: Credit Cards, Deals & Offers //

USDC Stablecoin Reserves Breakdown July 2021

Posted on July 22, 2021 // Leave a Comment

For those following stablecoin, Centre (founded by Circle) has released another breakdown of USDC reserves as of July 16, 2021. The accounting firm Grant Thornton attests that the total fair value of US dollar denominated assets held in segregated accounts are at least equal to the now $22.2 billion of USDC in circulation. Here is their breakdown of the reserves:

I honestly don’t see why they don’t just keep it all in cash. If they maintain the highest level of trust, they can make so much money elsewhere. Yet, while I am not a fan of seeing the 9% in commercial paper and 5% in corporate bonds, this breakdown is much better than Tether (USDT) reserves breakdown. Tether reported only 3% in cash and 65% in commercial paper, which would make it one of the the largest commercial paper holders in the world, yet nobody has any idea whose paper they own! I’m disappointed in USDC, but I would never actually own USDT.

Bloomberg’s Matt Levine has observed that “most of what actually happens with Bitcoin is about rediscovering financial history and re-creating the traditional financial system from scratch.” The same goes for stablecoin deposits, as we are seeing banking without FDIC insurance to even the playing field amongst big and small banks (and protect individual depositors). As in the past, since there is the chance of a “bank failure” and/or fraud, people demand higher interest for higher risk, while the safer places can get away with paying less interest. Consider the current interest rates on USDC deposits:

Although if we keep following that history model, then at some point there will be a stablecoin crisis where some portion of folks will lose money, leading to much tighter regulations about maintaining reserves, etc.

The poor transparency about stablecoin reserves and the lack of FDIC-insurance are why I don’t list these APYs in my monthly updates on the best rates on cash. You must perform your own due diligence on stablecoin risks.

Filed Under: Banking, Deals & Offers //

Summer of Dashpass 2021 Deals + New Chase Co-Branded $10 Doordash Credit

Posted on July 21, 2021 // Leave a Comment

Doordash is running their Summer of Dashpass promotion again this year, with weekly deals from 7/20 through 9/6. First, Dashpass members will get an extra $10 in savings each week during this period. There will be a themed promotion each week:

  • July 20–26: Free cheese or pepperoni ExtraMostBestest® pizza with a Little Caesars order $20+ with code CAESARS.
  • July 27 — August 2: $10 off any Pickup order of $20+ with code HUNGRY.
  • August 3–9: $10 off a gift order of $20+ using code FRIENDLY.
  • August 10–16: Eligible DashPass members (21 yrs+) can get $10 off an alcohol order of $40+ with code THIRSTY (where available).
  • August 17–23: $10 off an order of $20+ on any Convenience or DashMart order using the code SNACKY.
  • August 24–30: $10 off any pet supply order of $20 or more using the code FLUFFY.
  • August 31 — September 6: $10 off grocery orders of $25+ using the code EASY.

DashPass is a subscription service that offers a $0 delivery fee and reduced service fees when ordering $12 or more from any DashPass-eligible restaurant (look for the checkmark), as well as 5% back on Pickup orders. The regular price is $9.99/month.

Up to 12 months of free Dashpass membership is included with many Chase credit cards, including co-branded cards, and they are throwing in an additional $10 Doordash credit to those co-branded cards on your next purchase by 9/30 if you register/add your card here. Note that after those free 12 months, you’ll automatically be charged $9.99/month for continued membership unless you cancel DashPass. Eligible co-branded cards include:

If you have a Chase Sapphire Reserve or Sapphire Preferred credit card, you can also get free DashPass benefits on eligible orders for at least 12 months (and a maximum of 24 months) after activation. Sapphire Reserve cardholders also get $60 in statement credits towards DoorDash in 2021.

If you have a Chase Freedom or Slate credit card, you can free DashPass benefits on eligible orders for 3 months after activation. After the first 3 months, the user will be auto-enrolled for the next 9 months in DashPass with a 50% discount applied to the then current membership rate. You can cancel at any time.

If you are new customer to DoorDash and sign up via my DoorDash referral link, you will get $10 off your first 3 DoorDash orders over $15 ($30 total savings). I will get food credits as well. Thanks if you use it!

Filed Under: Credit Cards, Deals & Offers //
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