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10 September 2020 | 16 replies
Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.
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30 August 2020 | 7 replies
The only reason money market funds are paying any interest at all is because the major banks and clearing houses have slashed their fees, hoping no one will notice.The treasury/Fed will continue to print more dollars to monetize our national debt, ie; paying back the debt with dollars that are worth less (worthless?).
2 September 2020 | 7 replies
Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.
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9 September 2020 | 3 replies
The interest rate for the loan is based off the US Treasury Bond rate, which is insanely low right now.
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8 September 2020 | 6 replies
When returning security deposits of $50 or more, the interest rate is payable at 1.5% a year or the simple interest rate accrued at the daily US Treasury Yield curve rate for one year, as of the first business day of each year, whichever is greater.
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23 August 2020 | 3 replies
Treasury's pay 0.15% and hard money lenders charge 10-12%.
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26 August 2020 | 2 replies
The core PCE price index, the inflation indicator favored by the Fed, will come out on Friday (8/28).Calendar:Tuesday, 8/25: New Home SalesWednesday, 8/26: Durable OrdersFriday, 8/28: Core PCEWeekly Changes:10-year Treasurys: Fell 0.05Dow: Fell 100 pointsNASDAQ: Rose 300 points
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1 September 2020 | 4 replies
This plan is reviewed by many agencies (think fire, police, treasury, commerce, city council, mayoral, etc.) that will have to respond to the growth.
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9 February 2022 | 195 replies
And what's even worse is that they're taking US Treasury's out of the system in order to put these useless, undesirable bank reserves in.
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4 September 2020 | 24 replies
Treasury and you’re guaranteed your principle back.