[Coronita]

Sorry to hear that. If it’s not to far, you can try

Chase Bank
3433 Del Mar Heights Rd · In Del Mar Highlands Town Center · (858) 314-1311

Give them a call and make an appt. Yes, some of the certificates that are old take a long time. It’s ok….

[Coronita]

Not financial advice, but… given what happened with SVB, this is what I’m doing with my conservative cash account.

I split the cash holding roughly 50/50 between a basket of CDs FDIC insured well below the limit, and a investments into Schwab Money Funds, which all have a 1 day turnaround to cash.

The CD’s have varying terms, mostly 3 or 6 months, some are 1 month and some are 1 year. Anything longer than 3 month, I picked the CD that pays out monthly, instead of at maturity, even if the rate is slightly lower than ones that pay out at maturity.

[Coronita]

I hate Vegas actually. But I could use the extra money to pay for gas and tires, lol.

I ended up selling FRC, DPST,and SCHW. Because I forgot I needed to fill up all my cars this month

[Coronita]

Interesting.

[Coronita]

I’m out of FRC. Really tiny trade, but about 29% gain in one day, I’ll take it… Back to the Vegas tables…, lol.

[Coronita]

No, it was a pretty stupid thing to do. But then again, I never claimed financial intelligence in my decisions. I just know that I suck at Vegas.

[Coronita]

I bought Schwab SCHW, First Republic (FRC), and DPST etf this morning.

Because I don’t feel like going to Vegas to gamble, heh heh.

[Coronita]

There’s probably a lot of hysteria and over-reaction. However, if it makes you feel better (like in my case), just stay within the insured limits.

And if you plan on selling some of your money funds to buy CDs through schwab, just be aware that when you buy a CD through schwab, the CD is only actually purchased at the listed settlement date, and you cash will be held as part of the cash sweep feature of your brokerage account until the settlement date.

[Coronita]

Not financial advice, so do your own due diligence. Here’s all the fine print

https://www.schwab.com/cash-investments

Brokerage products and services are offered by Charles Schwab & Co., Inc., member SIPC. Deposit products and services are offered through Charles Schwab Bank, SSB (“Schwab Bank”); Charles Schwab Premier Bank, SSB (“Schwab Premier Bank”), and Charles Schwab Trust Bank (“Schwab Trust Bank”, “CSTB”) – collectively the “Affiliated Banks”, Members of FDIC.

Charles Schwab Investment Management, Inc. (CSIM), the investment advisor for Schwab Funds®, Charles Schwab & Co., Inc. (“Schwab”), Member SIPC, the distributor for Schwab Funds, are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation.

*Annual percentage yield.

†Yields shown represent the range of annualized fund yields, reflecting applicable waivers and based on the average income paid out over the prior seven days assuming interest income was not reinvested. These yields represent past performance, which cannot guarantee future results. Where waivers are not reflected, the yields would have been lower. Current performance may be lower or higher than the performance quoted. For more current performance please visit http://www.schwabassetmanagement.com.

‡The Funds’ Ultra Shares have a minimum initial investment of $1,000,000.

§The annual percentage yield displayed includes 3-month to 1-year values.

**Not applicable to Schwab Variable Share Price Money Fund.

Investors in money market funds should carefully consider information contained in the prospectus, or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a mutual fund prospectus by calling Schwab at 800-435-4000. Please read the prospectus carefully before investing.

1. The Schwab Bank Investor Savings Account™, with a minimum balance of $0.01, offers a 0.45% annual percentage yield (APY) as of 12/27/2022. This rate is variable and may change without notice.

2. Based on changes to certain federal regulations made in response to COVID-19, effective May 2020 and until further written notice is provided, Schwab Bank has indefinitely suspended enforcement of provisions in the Schwab Bank Deposit Account Agreement that limit the number of certain types of withdrawals and transfers from Investor Savings accounts to a total of six (6) each monthly statement cycle. This change means that clients may make withdrawals and transfers from their Investor Savings account without limit, and Schwab Bank will not take action to convert or close Investor Savings accounts based on the number of withdrawals and transfers made.

3. Funds deposited at Charles Schwab Bank, SSB are insured, in aggregate, up to $250,000, based on account ownership type, by the Federal Deposit Insurance Corporation (FDIC).

4. Unlimited ATM surcharge rebates apply to cash withdrawals using the Schwab One Visa® Platinum Check Card or the Schwab Bank Visa® Platinum Debit Card at ATM’s where they are accepted. ATM surcharge rebates do not apply to any fees other than surcharges assessed for using an ATM to withdraw cash in local currency from your Charles Schwab & Co., Inc. Schwab One brokerage account or your Charles Schwab Bank, SSB account. Charles Schwab & Co., Inc. and Charles Schwab Bank, SSB make their best efforts to identify those ATM surcharges eligible for rebate, based on information they receive from Visa and from ATM operators. In the event that you have not received a rebate for an eligible surcharge, please call a Schwab One Client Service Specialist at 800-421-4488 or a Schwab Bank Client Service Specialist at 888-403-9000. Charles Schwab & Co., Inc. and Charles Schwab Bank, SSB reserve the right to modify or discontinue this ATM surcharge rebate at any time.

5. If you use your card to withdraw foreign currency from an ATM, or to pay for a purchase with foreign currency, we charge your account for the U.S. dollar equivalent of the transaction. Depending on the specific arrangements that are in place, the exchange rate will be determined by the bank at which you conduct the transaction, the network to which the ATM belongs, or Visa®.

6. The Schwab Mobile Deposit™ service is subject to certain eligibility requirements, limitations, and other conditions. Enrollment is not guaranteed. Standard hold policies apply. Requires a wireless signal or mobile connection. Access to Electronic Services may be limited or unavailable during period of peak demand, market volatility, systems upgrade, maintenance, or for other reasons. Functionality may vary by operating system and/or device. Mobile carrier data charges may apply.

7. May be subject to state, local, and the federal Alternative Minimum Tax. Capital gains are not exempt from federal taxes.

8. Fund expenses and other fees may apply.

9. Certificates of deposit (CDs) from Schwab CD OneSource® are issued by FDIC-insured institutions and are subject to change and system access. Funds are FDIC-insured up to $250,000 per depositor per insured institution, based on account ownership type. Visit http://www.fdic.gov for details. For most CDs, there are no additional commission charges when you buy a CD through Schwab CD OneSource. However, there may be costs and market value adjustments associated with early redemption. CDs available through Schwab CD OneSource typically offer a fixed rate of return, although some offer variable rates. The minimum quantity is generally $1,000 face amount but may vary by offering. CDs may be subject to an early withdrawal penalty.

10. Funds deposited at an FDIC-insured institution are insured, in aggregate, up to $250,000 per depositor, per insured institution, based upon account type, by the Federal Deposit Insurance Corporation (FDIC). CDs you purchase from a particular bank are aggregated with any other deposits you may have with the issuing bank for purposes of determining FDIC insurance coverage (e.g., if you already have deposits of $250,000 with a bank, CDs you purchase from the same bank in the same ownership category may not be covered). Because the deposit insurance rules are complex, you may want to use the FDIC’s Electronic Deposit Insurance Estimator (EDIE) to estimate your total coverage at any particular bank.

11. Not all services are available on retirement accounts or in certain Schwab One accounts (those owned by organizations or in managed accounts).

12. Schwab One Interest and Bank Sweep are the two primary cash features. Money Fund Sweep feature is an additional cash feature available to certain accounts. Please note Schwab One Interest and the Money Fund Sweep feature are not FDIC-insured. As of 12/27/2022, the Annual Percentage Yield (APY) quoted for Schwab One Interest and Bank Sweep is 0.45% with a minimum balance of $0.01; it is quoted at 0.45% for balances over $1,000,000. This rate is variable and may change without notice.

13. If your account is an IRA, withdrawals prior to age 59 ½ may be subject to a tax penalty.

14. Bank Sweep deposits are held at one or more FDIC-insured banks (“Affiliated Banks”) that are affiliated with Charles Schwab & Co., Inc. Funds deposited at Affiliated Banks are insured, in aggregate, up to $250,000 per Affiliated Bank, per depositor, for each account ownership category, by the Federal Deposit Insurance Corporation (FDIC). Securities products and services (including unswept or intra-day cash, net credit or debit balances, and money market funds) offered by Charles Schwab & Co., Inc. (member SIPC) are not deposits or obligations of the Affiliated Banks, are subject to investment risk, are not FDIC insured, may lose value, and are not Affiliated Bank-guaranteed. Charles Schwab & Co., Inc. and the Affiliated Banks are separate entities and are all affiliates of The Charles Schwab Corporation.

15. Schwab One Interest is not a bank account and is not FDIC-insured. Charles Schwab & Co., Inc. is a member of the Securities Investor Protection Corporation (SIPC), which provides up to $500,000 (including $250,000 for claims for cash) of coverage when aggregated with other securities and cash held by you in the same capacity at Charles Schwab & Co., Inc. SIPC coverage protects eligible brokerage assets up to applicable limits in the case of a brokerage firm’s insolvency. It does not protect against investment losses.

16. The Schwab Bank Investor Checking™ account is available only as a linked account with a Schwab One brokerage account. The Schwab One brokerage account has no minimum balance requirements, minimum balance charges, minimum trade requirements, and there is no requirement to fund this account, when opened with a linked Investor Checking account. To learn more about other Schwab Bank checking accounts, please contact Schwab Bank at 888-403-9000.

17. The Schwab Bank Investor Checking™ account, with a minimum balance of $0.01, offers a 0.45% annual percentage yield (APY) as of 12/27/2022. This rate is variable and may change without notice.

18. Online and Mobile bill pay: Requires access to Schwab.com or Schwab Mobile via a wireless signal or mobile connection. Access to Electronic Services may be limited or unavailable during periods of peak demand, market volatility, systems upgrade, maintenance, or for other reasons. Functionality may vary by operating system and/or device.

19. Use of your card through a mobile wallet is subject to the terms and conditions of your Schwab Bank Deposit Account Agreement (which contains information on any potential liability for unauthorized transactions), your Visa Debit Card Agreement, the terms and conditions of the mobile wallet you use, the privacy policy set forth at http://www.schwab.com and the privacy policy of the mobile wallet you use.

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You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time.

Schwab Variable Share Price Money Fund: You could lose money by investing in the Fund. Because the share price of the Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time..

(0822-2F63)

[Coronita]

Stay under the FDIC insurance limits per account per entity. Why wouldn’t they be safe?

[Coronita]

Correction , I believe the sipc insurance is similar to FDIC , where the limit is $250k per entity. So accpunt held in each individual name is $250k insured, living trusts another I think it’s like FDIC insurance is $250k per beneficiary.

I read through the FDIC insurance rules back in 2010. Haven’t read through the sipc rules completely.

[Coronita]

Swvxx is like a mutual fund it’s not on the balence sheet of Schwab. The issue you need to worry about is if you have cash sitting in your account (for example waiting for 1-2 weeks for a CD settlement date ) you want to make sure the total of your cash sweep in all accounts is under the insured limits of $500k.

https://www.schwab.com/legal/sipc-account-protection

Also the issue with SVB , based on colleagues up there that are CFOs of startup companies is access to the money, not that it’s disappeared. It depends how the company held the funds. For example in most cases the startups use SVB and similar to Schwab they buy MM funds feom other providers such as wells Fargo ,etc. So those funds aren’t on SVBs balance sheet either. But since the FDIC shut the bank down, people can’t access those funds being managed by SVB.The immediate issue is access to those funds are frozen, for many startups, it’s hard to pay short term expenses like payroll .

[Coronita]

I’m going through this right now. Personally I think anything longer than 2 years is a long time with inflation, with the latest tenant laws, puts landlords at a disadvantage, unfortunately for good tenants thanks to AB-1482.

Unless your property is “exempt” from AB-1482, you are limited to rent increases of up to 10% per year. So if you’re a landlord that in the past never raised rates, you might be in a interesting situation in which you are really far behind from current market rents, and with inflation, you won’t ever catch up even if you were able to raise rates 10% each year for several years. Furthermore, if your property isn’t “exempt”, there’s only a small limited number of “no-fault” reasons you can evict/get rid of the existing tenant, and in the case of a “no-fault” termination/eviction, I think you owe at least 30 days rental credit to the person.

Because of this, I stopped my old policy of never raising rent, and raise it every 2 years a bit just so I won’t fall that far behind.

Now technically, most SFH and attached properties that individuals rent out are exempt from AB-1482. But that’s only the case if you notified your existing tenant that your property was exempt from AB-1482 before the 2020 deadline.. Many people who had old leases that preceded that didn’t properly notify the tenant that the property is exempt, and therefore technically, unless you signed a new lease with the old tenant clearly stating that the property in question is exempt from AB-1482, it technically ISNT exempt from AB-1482…

So regardless of what sort of length terms you plan on renewing with your tenant, you want to make sure your lease contract clearly states it’s exempt from AB-1482, and if it’s up for renewal it’s probably a good idea to have a new lease contract with those new papers that clearly states the property is exempt.

Times like these I also recommend getting a professional property manager that can walk you through this and make sure your lease contracts are correct. Otherwise you might get screwed.

[Coronita]

Not financial advice, but the RSU and ESPP stock sales strategy should be based on how stable you think the company’s stock is.

When I worked at Intuit, there was no point in being in a hurry to sell RSU and ESPP shares because back them the stock didn’t move much….And even now, they are pretty much recession proof.

When I worked at a new fledging startup that IPOed, you wante to sell as much stock options, stock, and ESPP as possible because in smaller companies, there are “lockup windows”, and you don’t want to get stuck holding onto a newly issued stock that tanks after the initial hype. A lot of people hold onto ESPP shares for the “tax advantage” benefit, but the big assumption here is you sell at a gain. In a lot of cases, especially at small tech companies, holding onto ESPP shares ends up paying ordinary income on vested shares, and then carrying over a lot of capital gain losses in successive years. Back to the the startup company that I worked at that IPOed. ESPP shares were granted at $125/share a few times. Those that held for the “taxable advantage” of holding long term ended up carrying over capital losses when the stock tanked $10/share 6months later.

A wise friend once told me it’s much wiser to pay more taxes on gains from stock sale then to incur capital loss carryovers trying to hold on to something too long just to save a few thousand extra on taxes.

That’s why I tend to sell my ESPP and RSU shares when they vest. Because you never know if it will be better years from now, of if the tech company goes under.

[Coronita]

Yes, our tax laws are pretty complicated, and when it comes to investments it makes a difference between What is recognized as capital gains and what is recognized as income.

Capital gain losses are limited to $3000 per year, I think, and the rest has to be carried over.

This is particularly an issue if a company gives you RSU stock grants and ESPP stock plan. For RSU stocks, when your RSU stocks vest, the fair market value of those vested shares is considered “ordinary income” and you will owe taxes that year. So for example if 1000 RSU shares best at $100/share that day, you will pay ordinary income taxes on $100k. If you sell the RSU stock , the proceeds from that stock sale is capital gain or los, with the cost basis being $100/share. So for example, if you sell the RSU a month later, if the stock price is $90, you have a capital loss of $10k, of which only -$3000 goes on this year tax and the remaining -$7000 you carry over to next year. The IRS wants its money now from your vesting , and they limit what you can report as a loss to offset income to $3000.

For that reason, when it comes to RSU or ESPP shares, I usually just do a same day sale. If your company does well, your invested shares and future ESPP shares will more than compensate you. And if your company doesn’t do well, there’s no point in keeping so many shares and wealth transfering your money to the CEOs that do regular time sales of their shares.

[Author]

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