patrick.net

I cut off the top of that chart. The columns are interest rate, minimum deposit, and earnings per $25,000.

Never, ever have a savings account; they're the worst, most useless kinds of accounts.

Every money market account at anyplace, e.g. Vanguard, Fidelity, etc. will have easy access to your money.

I would personally buy Vanguard High Yield Tax Free Fund (municipal bonds) because you will
1. make good interest
2. federal tax free
3. any interest rate cut will produce a bump in the value of the shares, i.e. you will also have some capital appreciation in the short term.

Money in a savings account is lending money to a bank in exchange for nothing.

Think about that; you're giving your money to someone to use and you get nothing.

"But it's safe!" ;)

I use Ally Bank but they aren't as high as what you show: https://www.ally.com/bank/online-savings-account/

I have more in short term bonds and cds though my brokerages than that savings account though and they are all over 5%.

Oh! Redneck bank is looking pretty good right now: https://redneck.bank/

You can chase a fly around your monitor with your mouse if you go to their site.

I have been thinking of opening a fund for the past years, but support on conservative patnet has been "tepid" (I ain't trustin noone on the interwebs!). I may do it anyways with friends and family money at some point, but it's a big step. Would be nice ot having to work for the man anymore and just do tech contracts here and there, and I'm pretty decent at it, although it involves risks with biotechs on the cusp of commercialization as a sizeable part of it.

Also @just_passing_through, I have a friend who wants to open a biotech/foundation for an ultra rare disease with no treatment, I am wondering if you are interested in at least hearing more. You can tell @patrick to give me your email address if so. I know you're a pro and I have one other contact in that space who may be interested.

You could build a bond ladder at treasurydirect.gov to get the highest yields (13 week T-bills with approx 1/3 expiring every four weeks). This does mean access is limited to once a month. That said, I've been using CLIP to get the higher short term T-bills yields and can sell at any time. YMMV...

mell says

I have been thinking of opening a fund for the past years, but support on conservative patnet has been "tepid" (I ain't trustin noone on the interwebs!). I may do it anyways with friends and family money at some point, but it's a big step. Would be nice ot having to work for the man anymore and just do tech contracts here and there, and I'm pretty decent at it, although it involves risks with biotechs on the cusp of commercialization as a sizeable part of it.

Why not start with a letter? This way people execute their trades (eliminating trust issues) and you get paid for the subscription.

RWSGFY says

mell says

I have been thinking of opening a fund for the past years, but support on conservative patnet has been "tepid" (I ain't trustin noone on the interwebs!). I may do it anyways with friends and family money at some point, but it's a big step. Would be nice ot having to work for the man anymore and just do tech contracts here and there, and I'm pretty decent at it, although it involves risks with biotechs on the cusp of commercialization as a sizeable part of it.

Why not start with a letter? This way people execute their trades (eliminating trust issues) and you get paid for the subscription.

Good idea. Patrick had paid posts but they didn't go anywhere, maybe an outside letter will. But it's a time issue, you won't make much in the beginning for a while. If you get say 5MM from friends and family plus some of your own funds, then at 1% commission you at least start out with 50k/yr and can take on contract work while the fund grows.

mell says

Also just_passing_through, I have a friend who wants to open a biotech/foundation for an ultra rare disease with no treatment, I am wondering if you are interested in at least hearing more. You can tell patrick to give me your email address if so. I know you're a pro and I have one other contact in that space who may be interested.

I just sent you a tip with my email addy. I'm accredited but probably have too much tied up in other stuff like Real Estate at the moment and am looking to buy 3-4 more SFH in the next year or two if things turn out right. (Plus my own residence)

Do you have any mentors? If not I can probably put you in touch with someone at... I think Sequoia Capital. I have a pal who's father was the 1st lawyer to found a biotech (Genentech) who ended up on several boards in the bay area. He passed away a few years ago and his son (my pal) is a total trust fund loser. Fun guy to bar hop with but he didn't do much with his life; he didn't have to.

His sister on the other hand was the achiever and I met her a few times at parties. I recall hanging out by the pool and she told me how they send her in to size up companies they want to invest in. She had no biotech background or experience.

If you'd like I can call him and see if he'll put you in touch with her?

I'm still mildly interested but I'd need to understand a lot more. Also, I'm pretty happy that other than my job in SF at this point working remotely I've severed any financial connections I have in CA. Just paying taxes there felt dirty knowing what they were doing with it. I don't pay taxes to CA at all anymore.