Passive Income

MrBurns · 25 July 2012

Just got 3 months at 4.9%

Don't know if thats good or not but we're talking peanuts these days whichever way you look at it.

Julia · 25 July 2012

Mr Burns: if you don't know whether it's good or bad, why not check what's overall available, viz infochoice:
http://www.infochoice.com.au/banking/savings-account/list.aspx

Better rates around without tying up your funds for any set period.
That could, of course, be a disadvantage if rates are cut further but it would still only likely be 25 basis points so you'd still be ahead with many of the advertised at call rates.

MrBurns · 25 July 2012

Should have checked but it seemed about right
Thanks for alerting me that there is better around
Using the iPhone to post this hope it works

ROE · 26 July 2012

I just leave my cash in comsec cash management get 3.75% then I play options which generate another 12-18% a year

this new financial year off to a good start 3% already for July -

then another 20k to 30k of dividend a year this grow atleast 1k a year

then when the panic start and stock trading at price I like I take the cash and buy and trade their
cash flow and dividend for my cash, dividend then pile back into the cash account for options play
until Stock trades at the price i like...repeat year in year out not much work good passive income

MrBurns · 26 July 2012

ROE said:
I just leave my cash in comsec cash management get 3.75% then I play options which generate another 12-18% a year

this new financial year off to a good start 3% already for July -

then another 20k to 30k of dividend a year this grow atleast 1k a year

then when the panic start and stock trading at price I like I take the cash and buy and trade their
cash flow and dividend for my cash, dividend then pile back into the cash account for options play
until Stock trades at the price i like...repeat year in year out not much work good passive income

Smarty pants

:

MrBurns · 26 July 2012

Julia said:
Mr Burns: if you don't know whether it's good or bad, why not check what's overall available, viz infochoice:
http://www.infochoice.com.au/banking/savings-account/list.aspx

Better rates around without tying up your funds for any set period.
That could, of course, be a disadvantage if rates are cut further but it would still only likely be 25 basis points so you'd still be ahead with many of the advertised at call rates.

The only ones that would do better are -

UBank

Bank of Cyprus and Beirut Bank (no thanks)

Julia · 26 July 2012

MrBurns said:
The only ones that would do better are -

UBank

Bank of Cyprus and Beirut Bank (no thanks)

I don't know what you're looking at.
This is from the first page at infochoice re search for at call rates:
The format hasn't transposed well but the first figure for each institution is the available rate.

5.75% $47.92 4.95% $41.25 Enquire

USaver (Base Rate 5.01%, Bonus 0.70% with savings plan) Not Required 5.71% $47.58 5.01% $41.75 Enquire

Citibank Online Saver (5.70% Variable intro rate for 4 months on balances up to $500k) Any Institution 5.70% $47.50 4.00% $33.33 Enquire

RaboDirect Savings Account (up to 5.60% 4 month special variable rate up to $250k) Any Institution 5.60% $46.67 4.60% $38.33 Enquire

Savings Maximiser (5.35% p.a. variable intro rate for 4 months on balances up to $250,000) Any Institution 5.35% $44.58 3.75% $31.25 Enquire

Maxi Saver (5.35% variable for first 5 months) Same Institution 5.35% $44.58 3.50% $29.17 Enquire

Maxi Saver (NSW, ACT, SA & NT) (5.30% variable for first 5 months) Same Institution 5.30% $44.17 3.50% $29.17 Enquire

ANZ Progress Saver 5.26% $43.83 0.01% $0.08 Enquire

TeleNet Saver (6 month intro rate) Any Institution 5.25% $43.75 4.00% $33.33 Enquire

ANZ Online Saver (5.25% p.a. until 31st December 2012) Same Institution 5.25%

MrBurns · 26 July 2012

Julia said:
I don't know what you're looking at.
This is from the first page at infochoice re search for at call rates:
The format hasn't transposed well but the first figure for each institution is the available rate.

If you put the amount in up top and clcik search it quickly reduces the rate for larger amounts.

Julia · 26 July 2012

MrBurns said:
If you put the amount in up top and clcik search it quickly reduces the rate for larger amounts.

What sort of amount are you typing in and what was the suggested available rate?

I've just tried it for $5 million and there was no change to the rates.
I've also had quite large amounts with Rabodirect and these have attracted the maximum advertised rate.

None of my concern what you do with your funds. I'd have thought, however, if you're depositing significant amounts you would be wanting to get the maximum available interest rate.

MrBurns · 27 July 2012

Julia said:
What sort of amount are you typing in and what was the suggested available rate?

I've just tried it for $5 million and there was no change to the rates.
I've also had quite large amounts with Rabodirect and these have attracted the maximum advertised rate.

None of my concern what you do with your funds. I'd have thought, however, if you're depositing significant amounts you would be wanting to get the maximum available interest rate.

It's not that sugnificant any more, I'm buying Lotto tickets..........

MrBurns · 27 July 2012

Julia said:
What sort of amount are you typing in and what was the suggested available rate?

.

I was looking at fixed term, at call shows different numbers.

Julia · 27 July 2012

MrBurns said:
I was looking at fixed term, at call shows different numbers.

My point was that you can actually get better rates in online at call accounts. If you're only committing to a three month term for a fixed deposit, I'd have thought it more useful to go for the higher rate.
Different story in an environment of falling rates if you're planning to put the funds away for, e.g. five years.

MrBurns · 27 July 2012

Julia said:
My point was that you can actually get better rates in online at call accounts. If you're only committing to a three month term for a fixed deposit, I'd have thought it more useful to go for the higher rate.
Different story in an environment of falling rates if you're planning to put the funds away for, e.g. five years.

To be honest I hadn't looked at that as it's a Super fund and a bit complicted to set up an account but youre right might as well be at call for the higher rate that gives flexibility as well.

Julia · 27 July 2012

MrBurns said:
To be honest I hadn't looked at that as it's a Super fund and a bit complicted to set up an account but youre right might as well be at call for the higher rate that gives flexibility as well.

Yes, it's certainly a complication, but wouldn't you have to do all the same paperwork for setting up a term deposit for a SF?
Mine is also in SMSF. I have found Rabodirect by far the simplest set up, plus they have really helpful staff and a great website.

MrBurns · 27 July 2012

Julia said:
Yes, it's certainly a complication, but wouldn't you have to do all the same paperwork for setting up a term deposit for a SF?
Mine is also in SMSF. I have found Rabodirect by far the simplest set up, plus they have really helpful staff and a great website.

I move between the NAB and the CBA where all the paperwork has been done so it's easier just to stay there, I only take 90 days in case an opportunity crops up, never does really ....

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