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EverBank's 5 Year MarketSafe Treasury CD Is An Awful Investment

Sunday, May 11, 2014 - 7:47 PMEverBank - Details
The problem here is very clear.  The 10 Year Treasury is unlikely to go to 6% in five years with Chairman Janet Yellin and the entire Fed Board of Governors committed to pursuing Bernanke’s accommodative policy of the last 7 and with very little inflationary pressure.  Even the most aggressive commentators don’t see it crossing 5% in the next 5 years, and some see it at about the same level it is at today.

http://www.bestcashcow.com/articl...stment-9..
14
ShorebreakShorebreak2,675 posts since
Apr 6, 2010
Rep Points: 14,523
1. Monday, May 12, 2014 - 10:44 AM
It never ceases to amaze me how stupid some of these financial institutions think the average saver really is.  Like we all have "Do-Do brains!"  My most terrifying thought is if one day I will get too sick to handle my own affairs and the "real" financial brains will have to help me out with my finances and I will probably end up in the tank that I avoided for over 50 years!  We need Ken to put up a page by cities and states of the names of "financial advisers" who were trained via DA!  (And charge a "fair" price for their services.)
6
paoli2paoli21,400 posts since
Aug 10, 2011
Rep Points: 6,132
2. Monday, May 12, 2014 - 3:32 PM
EVERYONE no matter what age should have a POA. If it is necessary to have someone attend to your finances and you have no POA it is very EXPENSIVE to have your family go through the courts. AND LET THE FIGHT BEGIN. I have seen this happen with a close friend of mine. 
1
Ally6770Ally6770931 posts since
Jan 16, 2010
Rep Points: 2,707
3. Monday, May 12, 2014 - 7:05 PM
What does a POA have to do with someone helping one with their finances?  We have POAs for ALL family members but that is not going to completely resolve all problems if one is not well enough to take care of one's affairs.  I am referring to handling all the CDs, and finances etc. and making wise "safe" savings choices if one cannot do it herself or himself.  You seem to be concerned about a completely different area.  However, POAs are always a "must" and should be done long before one becomes unable to handle one's affairs, imo.
4
paoli2paoli21,400 posts since
Aug 10, 2011
Rep Points: 6,132
4. Monday, May 12, 2014 - 8:32 PM
Duties of a POA

Real property transactions;
Tangible personal property transactions;
Stock and bond transactions;
Commodity and option transactions;
Banking and other financial institution transactions;
Business operating transactions;
Insurance and annuity transactions;
Estate, trust, and other beneficiary transactions;
Claims and litigation;
Personal and family maintenance;
Benefits from social security, Medicare, Medicaid, or other governmental programs or civil or military service;
Retirement plan transactions;
Tax matters. 
2
Ally6770Ally6770931 posts since
Jan 16, 2010
Rep Points: 2,707
5. Monday, May 12, 2014 - 8:58 PM
#4  You missed the entire point of my post and what kind of person I was referring to.  I know what the duties of a POA are but it's finding that right trustworthy financial person who is not a family member to handle these duties which is the problem and can be very expensive.
4
paoli2paoli21,400 posts since
Aug 10, 2011
Rep Points: 6,132
6. Tuesday, May 13, 2014 - 8:49 AM
#5--Not sure what I misunderstood. Please explain. You stated-
We have POAs for ALL family members but that is not going to completely resolve all problems if one is not well enough to take care of one's affairs. 

I replied-Duties of a POA

Real property transactions;
Tangible personal property transactions;
Stock and bond transactions;
Commodity and option transactions;
Banking and other financial institution transactions;
Business operating transactions;
Insurance and annuity transactions;
Estate, trust, and other beneficiary transactions;
Claims and litigation;
Personal and family maintenance;
Benefits from social security, Medicare, Medicaid, or other governmental programs or civil or military service;
Retirement plan transactions;
Tax matters. 

What did I misunderstand? A POA will take care of ALL financial matters. If you have one what is the issue? 
1
Ally6770Ally6770931 posts since
Jan 16, 2010
Rep Points: 2,707
7. Tuesday, May 13, 2014 - 9:09 AM
I was referring to a trustworthy and affordable financial adviser.  All the POAs you have can accomplish every duty you have posted but they can't take the place of the person who decides what to do about your finances when CDs mature or whether to try another investment with the money.  POAs perform actions but actual "people" have to know how to make the decisions for these actions.  Duties are quite different from decisions.   All of those duties you listed take a human to handle and maintain.  A husband or partner may be trustworthy enough to entrust a POA to but can they make financial decisons?  That is the question of concern to me.

Please note if anyone else is misunderstanding my posts.  The POA I am referring to would NOT, I SAY, "NOT" be given to any financial adviser.  The Financial Adviser would be just to guide and give advice.  The POAs would ONLY be entrusted to close family members.  Thank you for your understanding.
4
paoli2paoli21,400 posts since
Aug 10, 2011
Rep Points: 6,132
8. Wednesday, May 14, 2014 - 8:50 AM
Yet another article critical of the EverBank 5 Year MarketSafe Treasury CD...

I’ll Pass On EverBank’s Latest CD Offer
5
ShorebreakShorebreak2,675 posts since
Apr 6, 2010
Rep Points: 14,523
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