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Palladium

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09Lexie
Moderator Emerita

Re: Palladium

I agree with you. Never put all your eggs in one basket. Diversity is always best IMO
Message 31 of 59
Dustink
Valued Contributor

Re: Palladium

It would be nice to have more assets to diversify Smiley Happy 

 

Some day...

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 32 of 59
09Lexie
Moderator Emerita

Re: Palladium

Message 33 of 59
Dustink
Valued Contributor

Re: Palladium

I think bullion is in a good spot now. Might be worth looking at if you don't have any already. 

 

It sustains value, but will never make one wealthy.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 34 of 59
jkeames12
Member

Re: Palladium


@Dustink wrote:


IIRC, this would require a CPC relationship along with ~$250K... unless somehow your private banker is able to circumvent those requirements by endorsing it to the u/w group.


Hmm...

 

That won't happen. Not that I have $250k liquid, but even if I did I don't think I'd keep it with a high fee broker at Chase.


OP, this is my opinion only -

 

$250K in pure liquid cash (non-investments) to open CPC is very well worth it. They'll treat you like gold, fee-free for everything (intl wires, any intl fee waived, etc), anything you want 24/7, and much more. 

 

However, never in a million years would i roll over my investments with them. Doing a few quick calculations here and there (and depending on how much investments you have, and what kind), they would nickel and dime me up to hundreds of thousands of dollars over the next 30 years more than other non big banks. Also, no where written in financial history says load funds out-perform non-load funds.

 

Remember, investments are not required to be CPC, it's just a faster way to become CPC. Leaving $250K in cold cash would keep you CPC as long as your yearly average doesn't go below that (and as always, YMMV depending on how much they are willing to bend over for you). So ideally you would really want at least $350K-$500K in there if you want wiggle room (or whatever you need for the extra liquidity). $250K just to keep CPC but never using any of the funds wouldn't make sense (unless there are other benefits you're after).

 

We're in a generation of DIY's now. It takes very little brain work to figure how to get the best bang for your buck from other investment brokers. In the olden ages, it was much easier to have a banker do things for you because the DIYs rarely existed (thank you internet). 

Reading simple forums like bogleheads.com or fatwallet.com has made me a very good investor in the past year.

 

but already from reading your statement, i know you'll do the right thing. Smiley Wink

Message 35 of 59
Dustink
Valued Contributor

Re: Palladium


@jkeames12 wrote:

@Dustink wrote:


IIRC, this would require a CPC relationship along with ~$250K... unless somehow your private banker is able to circumvent those requirements by endorsing it to the u/w group.


Hmm...

 

That won't happen. Not that I have $250k liquid, but even if I did I don't think I'd keep it with a high fee broker at Chase.


OP, this is my opinion only -

 

$250K in pure liquid cash (non-investments) to open CPC is very well worth it. They'll treat you like gold, fee-free for everything (intl wires, any intl fee waived, etc), anything you want 24/7, and much more. 

 

However, never in a million years would i roll over my investments with them. Doing a few quick calculations here and there (and depending on how much investments you have, and what kind), they would nickel and dime me up to hundreds of thousands of dollars over the next 30 years more than other non big banks. Also, no where written in financial history says load funds out-perform non-load funds.

 

Remember, investments are not required to be CPC, it's just a faster way to become CPC. Leaving $250K in cold cash would keep you CPC as long as your yearly average doesn't go below that (and as always, YMMV depending on how much they are willing to bend over for you). So ideally you would really want at least $350K-$500K in there if you want wiggle room (or whatever you need for the extra liquidity). $250K just to keep CPC but never using any of the funds wouldn't make sense (unless there are other benefits you're after).

 

We're in a generation of DIY's now. It takes very little brain work to figure how to get the best bang for your buck from other investment brokers. In the olden ages, it was much easier to have a banker do things for you because the DIYs rarely existed (thank you internet). 

Reading simple forums like bogleheads.com or fatwallet.com has made me a very good investor in the past year.*

 

but already from reading your statement, i know you'll do the right thing. Smiley Wink


I have never been charged a fee or interest at any other bank. Hasn't required a $250k balance. 

 

*Nice, but the market has sure been in your favor this year.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 36 of 59
CreditScholar
Valued Contributor

Re: Palladium


@FinStar wrote:

@CreditScholar wrote:

@FinStar wrote:

@Dustink wrote:

@CreditScholar wrote:

@FinStar wrote:

@Dustink wrote:


IIRC, this would require a CPC relationship along with ~$250K... unless somehow your private banker is able to circumvent those requirements by endorsing it to the u/w group.


Hmm...

 

That won't happen. Not that I have $250k liquid, but even if I did I wouldn't keep it with a high fee broker at Chase.


That, or whether they could possibly be able to offer you the JPM Select.  Your PB would likely know the best options based on your overall goals/needs.


The Palladium requires CPC which is 250k minimum in deposits.

 

The JPM Select is now only offered to PB clients (not even CPC). Minimum for that (in their HNW division) begins at $5MM.


Bummer...


I know right?  I would be closer to CPC than PB.


+1. Same for me. PB is the space where people like my parents would play in. Guess I'll just have to share the lowly CPC space with you instead Smiley Very Happy


I don't mind the company.  I think Lexie and her DH are already there...So, I know we're in good company... Smiley Happy  Not sure if bribro or Crashem are CPC or PB...  For now, I haven't decided on CPC... but PB is definitely far on the horizon...


Enjoy the company while you can, I won't be here forever! PB is about 10-15 years out for me. Smiley Tongue

 

Bribro works for JPM, so I'm guessing he may be in a special category. If I had to guess, I'd put him in PB over CPC.

 

You'd have to ask Crashem about his situation.

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 37 of 59
Crashem
Valued Contributor

Re: Palladium

Cough. My ears were ringing. I got the palladium when it was more of the 25m+. Not that I have it. My old business partner has family office (read investment fund/people for one family's money). I have some funds in that family office given we are old friends/business partners. Basically he along with a couple other people in office got offered card and I got one too given I was "principal" in firm. So basically hitch a ride with really rich people and some of their high level investing folk.

As for card, I kind of put its benefits around Amex plat with some areas better and some worse. Still annoyed that reward structure is like csp without dining. With dining, I would just dump csp. Card has a lot of bling.

Btw what is difference between pcdw vs cdw? Didn't realize cdw comes in two favors.
               LIMITS IN CARD DESCRIPTIONS
Message 38 of 59
CreditScholar
Valued Contributor

Re: Palladium


@Crashem wrote:
Cough. My ears were ringing. I got the palladium when it was more of the 25m+. Not that I have it. My old business partner has family office (read investment fund/people for one family's money). I have some funds in that family office given we are old friends/business partners. Basically he along with a couple other people in office got offered card and I got one too given I was "principal" in firm. So basically hitch a ride with really rich people and some of their high level investing folk.

As for card, I kind of put its benefits around Amex plat with some areas better and some worse. Still annoyed that reward structure is like csp without dining. With dining, I would just dump csp. Card has a lot of bling.

Btw what is difference between pcdw vs cdw? Didn't realize cdw comes in two favors.

PCDW kicks in before your normal insurance, while (secondary) CDW only kicks in to cover what's left after your primary insurance benefits are exhausted.

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 39 of 59
Crashem
Valued Contributor

Re: Palladium

Thanks. Started to do reading as well. Not easy to tell which cards have what from card issuers websites
               LIMITS IN CARD DESCRIPTIONS
Message 40 of 59
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