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anyone buy & sell 6-month t-bills...? #6565463
06/30/19 03:40 PM
06/30/19 03:40 PM
Joined: Dec 2015
Posts: 6,325
se South Dakota
NonPCfed Offline OP
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NonPCfed  Offline OP
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se South Dakota
My oldest kid has some personality "issues" that I won't go into but tried to do a semester of college out of hs, claimed he was doing his daily & weekly work (which he wasn't for a couple of reasons) and ended up flagging 3 out of 4 courses. Now he's working about three-quarter time and wants to save up and return to college in a year or so (if it happens). The wife doesn't want me to put any more "college" money into his 529 plan (he still has about 3k there) because if he doesn't go back for any kind of schooling (not just a 4-year college thing), its a lot harder to use it up without strings attached. I don't want his money just to stay in a savings account for a couple of reasons, and we won't have time to acquire a larger stash (has about $700 of his own now) and do anything mid-term so I'm wondering about having him (most likely me) buy and sell a few 6-month treasury notes for him over the next 2-3 years. But I've never dealt with t-bills before, although I know you can set up an account and buy and sell them on your own. Any thoughts...?


"And God said, Let us make man in our image �and let them have dominion �and all the creatures that move along the ground".
Genesis 1:26
Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6565489
06/30/19 04:38 PM
06/30/19 04:38 PM
Joined: Feb 2014
Posts: 13,059
Ky
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jbyrd63 Offline
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Ky
invest in gas this fall . sell in the summer .........................

Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6565596
06/30/19 07:52 PM
06/30/19 07:52 PM
Joined: Mar 2012
Posts: 3,852
meadowview, Virginia
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EdP Offline
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EdP  Offline
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meadowview, Virginia
Send him part time to a community college while he works the other part. Prove he will work at it. Make it his money on the line not yours, at least until he proves himself worthy.

Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6565721
06/30/19 10:22 PM
06/30/19 10:22 PM
Joined: Dec 2015
Posts: 6,325
se South Dakota
NonPCfed Offline OP
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NonPCfed  Offline OP
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se South Dakota
Quote
Send him part time to a community college while he works the other part. Prove he will work at it. Make it his money on the line not yours, at least until he proves himself worthy.


The only money of mine left in the deal is the 3k sitting in his 529 plan. I'm asking what to do with his money in the short-term. A fraction of 1% in a regular savings account seems pretty worthless to me...


"And God said, Let us make man in our image �and let them have dominion �and all the creatures that move along the ground".
Genesis 1:26
Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6565764
06/30/19 11:56 PM
06/30/19 11:56 PM
Joined: Dec 2006
Posts: 3,489
Moved to Fbks, Ak.
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martentrapper Offline
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Open a UTMA account. Use fidelity if you like them. Invest it how you want. Gains will be taxed at his rate when money is taken out.

Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6565875
07/01/19 09:00 AM
07/01/19 09:00 AM
Joined: Mar 2007
Posts: 35,129
McGrath, AK
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white17 Offline

"General (Mr.Sunshine) Washington"
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McGrath, AK
When you say "his" money......I assume you are talking about the 700$ you mentioned in the original post. That really isn't enough to make a difference . If you're contemplating something like you describe, I would do it with all of the funds.

I would also NOT contemplate "buying and selling" T-bills. There isn't enough volatility in them to make any significant money with that amount of capital. Transaction costs will eat anything you might make.

If I were in your shoes, I would take on a fraction more risk and buy some preferred stock that pays a decent quarterly dividend. Preferred !! Not common.

There are several that pay in the neighborhood of 7+ % and are quite safe. Yes there is slightly more risk than T-bills, but vastly more reward.Look into companies that invest in only US Agency guaranteed paper



Mean As Nails
Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6565888
07/01/19 09:25 AM
07/01/19 09:25 AM
Joined: Jan 2012
Posts: 2,967
Ohio
OhioBoy Offline
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Ohio
If you need to bring your taxable income down then 529 isn't all bad, assuming your maxing out a 401k already if you have one. It doesn't have to be your son that uses it. It can be you or a grandchild.

There are other ways to reduce your taxable incomve if you don't have a 401k. We can go into that if you want but that wasn't really your question.

Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6565907
07/01/19 09:54 AM
07/01/19 09:54 AM
Joined: Jan 2007
Posts: 2,136
B61-12 vicinity, MO
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TreedaBlackdog Offline
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He is college aged so at least 18. Let him manage his own money. You can give him guidance and show his charts with interest increase and go over costs of having someone manage his money - but let him decide what to do.

Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6565928
07/01/19 10:33 AM
07/01/19 10:33 AM
Joined: Dec 2006
Posts: 17,550
Rodney,Ohio
SNIPERBBB Offline
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SNIPERBBB  Offline
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Posts: 17,550
Rodney,Ohio
With that amount of time and little money he'd be better off buying a decent push mower,trimmer and other tools and do some mowing.

Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6566324
07/01/19 11:10 PM
07/01/19 11:10 PM
Joined: Dec 2015
Posts: 6,325
se South Dakota
NonPCfed Offline OP
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NonPCfed  Offline OP
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se South Dakota
Thanks for the various comments!!

The $700 that I mentioned he had right now isn't all that he will have to "work" this for a couple years. I'm trying to get him put in at least $200 a month from his paycheck. He wouldn't have to burn it all at once if he went back to school so that's why I was thinking about sort of rotational downward use of what he had in this reserve.

OhioBoy, thanks for the tax tip. You are correct, reducing my taxes isn't the goal here. I don't even indulge myself in thinking about maxing out my 401k. That's just never going to happen.

TreedaBlackdog, yeah it would be great if he could manage his money at this point but with his touch of Asperger's and whatever other issues he has, its interesting to watch. The kid isn't dumb but is just a pure linear thinker if he's not really interested. You can't assume there is any "common sense" there or maybe I'm just too old in expecting kids to know certain things. Maybe his interest would pick up if he saw the "mechanics" of investments and money growing /coming in.

SNIPERBBB, don't think cutting lawns on the side is his specialty. He's not terrible at it but he's not that good either or perhaps I have more an attention for detail.

martentrapper & white17, thanks, I've have to check them out, although I'm not familiar with "UTMA" accounts and "US Agency guaranteed paper"...


"And God said, Let us make man in our image �and let them have dominion �and all the creatures that move along the ground".
Genesis 1:26
Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6566391
07/02/19 06:55 AM
07/02/19 06:55 AM
Joined: Nov 2007
Posts: 9,780
St. Cloud, MN
trapperkeck Offline
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An utma account is not really an option, since he is an adult It is a Uniform Transfer to a Minor Account.


"The voice of reason!"
Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6566699
07/02/19 04:50 PM
07/02/19 04:50 PM
Joined: Dec 2015
Posts: 2,871
NNY
0
080808 Offline
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Just opened up an account with American Express. Day of deposit to day of withdrawal. Protected by FDIC if that’s protection. Few days ago 2.11%.
Funny story. I asked my wife to inquire if there were any withdrawal restrictions. She called and ask if there was a daily limit to deposit . Guy laughed and said yeah a half million.

Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6566713
07/02/19 05:15 PM
07/02/19 05:15 PM
Joined: May 2013
Posts: 3,162
Green Bay, Wisconsin
tlguy Offline
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Half million limit, eh 080808? What will you do with the other half of your fur check hahaha!

Re: anyone buy & sell 6-month t-bills...? [Re: trapperkeck] #6566752
07/02/19 06:31 PM
07/02/19 06:31 PM
Joined: Dec 2006
Posts: 3,489
Moved to Fbks, Ak.
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martentrapper Offline
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Originally Posted by trapperkeck
An utma account is not really an option, since he is an adult It is a Uniform Transfer to a Minor Account.

An adult may open a UTMA account in the name and ssn of a minor. That adult may the. deposit money into that account.

Re: anyone buy & sell 6-month t-bills...? [Re: martentrapper] #6567139
07/03/19 09:09 AM
07/03/19 09:09 AM
Joined: Mar 2007
Posts: 35,129
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
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Joined: Mar 2007
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McGrath, AK
Originally Posted by martentrapper
Originally Posted by trapperkeck
An utma account is not really an option, since he is an adult It is a Uniform Transfer to a Minor Account.

An adult may open a UTMA account in the name and ssn of a minor. That adult may the. deposit money into that account.



Mike; The way I understand the OP...... there are no minors involved in this. His son is college age


Mean As Nails
Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6567170
07/03/19 09:46 AM
07/03/19 09:46 AM
Joined: Jan 2007
Posts: 2,136
B61-12 vicinity, MO
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TreedaBlackdog Offline
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I would sit him down and go over charts with him and explain compound interest and the power of it. He may grasp more than what we see and be blessed to visualize trends like none other. God has a plan for him that neither you or your wife may know yet. Trust the Lord to direct him but it still is your responsibility to show him and lead him. Show him stuff like if you put $100 a month in an account making 7% interest over 25-30 years. Compare it to just putting the money into a bank account and making .05% interest. Many older adults still do not invest and have no future plans.......

Ask him his goals for life and how he plans to accomplish then with your help.

Last edited by TreedaBlackdog; 07/03/19 09:47 AM.
Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6567187
07/03/19 10:31 AM
07/03/19 10:31 AM
Joined: Jan 2009
Posts: 6,683
PA
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gryhkl Offline
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PA
Where might one find a guaranteed 7% interest?

Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6567209
07/03/19 11:28 AM
07/03/19 11:28 AM
Joined: Jan 2007
Posts: 2,136
B61-12 vicinity, MO
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TreedaBlackdog Offline
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B61-12 vicinity, MO
your next breath is not guaranteed........but I invest and most years average well over 7% - there are many funds available with 20 years of data available to the public for free viewing.

Re: anyone buy & sell 6-month t-bills...? [Re: NonPCfed] #6567217
07/03/19 11:41 AM
07/03/19 11:41 AM
Joined: Mar 2007
Posts: 35,129
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
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McGrath, AK
You guys are talking about apples and oranges.

Interest is not the same as capital appreciation.

Yes. A guy can earn good rates of return in the market over long time periods. But finding an investment that today pays 7% INTEREST is difficult to do.


Mean As Nails
Re: anyone buy & sell 6-month t-bills...? [Re: gryhkl] #6567226
07/03/19 12:02 PM
07/03/19 12:02 PM
Joined: Dec 2006
Posts: 17,550
Rodney,Ohio
SNIPERBBB Offline
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Rodney,Ohio
Originally Posted by gryhkl
Where might one find a guaranteed 7% interest?

I hear Iran has a 15% rate...but good luck with the garaunteed part assuming you could findva legal way to deposit anything and get your money back.

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