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Savings account + lottery


Nice Guy Eddie
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56 minutes ago, Nice Guy Eddie said:

I built up to 22K so I don't have a long track record of that amount.  The biggest week I've had since the last deposit is $7.90.  I had a 1.59% November annualized return, and 1.25% in December so far. 

Thanks. I hopefully get a bonus in March (fuck Covid if not) and debating to drop 20k of it into this new fangled savings account 

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10 hours ago, nineliveslost said:

Thanks. I hopefully get a bonus in March (fuck Covid if not) and debating to drop 20k of it into this new fangled savings account 

I’m unique in that I like having a large emergency fund sitting in savings accounts. I started putting them in CDs 15-20 years ago but CDs just don’t pay anything now.

my expectation is to win $5 per week with Yotta at this funding level. Which is better than I can get elsewhere. But the real attraction is the idea of winning the larger prizes.

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Just now, Knoxtnhorn said:

I just set up an account via your @Nice Guy Eddie link.  I hope you get credit for the referral.  Setting the account up at the beginning was kind of wonky, but I think I got your referral code in.  As soon as I'm verified, I'll make my 1st deposit and begin tracking returns on here for reference for others.

Thanks. As @40acredropout said, it's not easy to make <2% returns exciting but if you have enough tickets, you do find that you occasionally hit M-W on a ticket, and you start dreaming of the $10m or Telsa 3.  Then Thursday and Friday crush your dreams.

  • Hook 'Em 1
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1 minute ago, Nice Guy Eddie said:

FYI, when it comes to withdrawals from Yotta, they immediately reduce the # of corresponding tickets. And your current best tickets are removed first. In other words, don’t withdrawal on a Friday if you have some good tickets. Wait until Monday morning to withdrawal.

They give you the tickets immediately so that makes sense it would be the same in reverse but taking your best tickets seems wrong.

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1 minute ago, TKthunder2 said:

They give you the tickets immediately so that makes sense it would be the same in reverse but taking your best tickets seems wrong.

I agree but they are very clear when you start a withdrawal process what will happen if you complete the withdrawal. I guess their point of view is that they want to incentivize deposits and partially penalize you for withdrawals. The good part is that a late week withdrawal is most likely a small win.

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2 minutes ago, nineliveslost said:

no clue. I do still enjoy it and hope its not a scam

I don’t think the bank is a scam, but I think they made a stupid mistake in calculating everyone’s annual return.  They’re claiming I made 6% annualized return for 2020.  There is no way I earned that much. Each month was between 1.2% and 1.6% annualized. If you annualize the individual months, you can’t just add them together to show the annualized total for the year.

it actually doesn’t inspire confidence when a bank cannot calculate returns. I bet we all see a revised % in the upcoming days.

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9 minutes ago, nineliveslost said:

👍

 

I am mostly doing this as a out of sight out of mind saving account, but do enjoy the "thrill" of maybe winning the lottery. So far the return is above my money market 

Same. I’m just letting it slowly accumulate some weekly deposits for potential future fun money. 

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Thanks for the 2 people that recently used my referral link! Hopefully your free 1-week tickets help out as well.

14 hours ago, Johnny Chimpo said:

Same. I’m just letting it slowly accumulate some weekly deposits for potential future fun money. 

Good idea. I just have my emergency fund in Yotta but a vacation fund would work out well for me, once I can go on a vacation.

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Thanks again for putting me onto this @Nice Guy Eddie.

Can't believe how much attention I'm paying to something that might pay out a couple of bucks.  I don't have as much deposited as some of you guys so I've only got 360 tickets.  After tonight's number I've got 16 tickets this week with 2 numbers already selected.  Hoping for a 52 or 57 (either of those would bump 5 cards up to 3 numbers).

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10 hours ago, 40acredropout said:

Thanks again for putting me onto this @Nice Guy Eddie.

Can't believe how much attention I'm paying to something that might pay out a couple of bucks.  I don't have as much deposited as some of you guys so I've only got 360 tickets.  After tonight's number I've got 16 tickets this week with 2 numbers already selected.  Hoping for a 52 or 57 (either of those would bump 5 cards up to 3 numbers).

I hear ya. I get a notification every night around 8:05 to check my numbers. I get excited to see if I’ve hit $.25 (3 matches) for a ticket.

And I don’t even care about earning a quarter. It’s more about the lottery/gambling high. 

  • Hook 'Em 2
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On 12/28/2020 at 6:08 PM, Nice Guy Eddie said:

I built up to 22K so I don't have a long track record of that amount.  The biggest week I've had since the last deposit is $7.90.  I had a 1.59% November annualized return, and 1.25% in December so far. 

I'm just getting started.  Quick question.  Does the app do this ^^^ calculation for you?  If not, what is the formula y'all are using for your monthly APR?  I know how to calculate interest; I just want to ensure I'm being consistent with y'all for reference.

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8 minutes ago, Knoxtnhorn said:

I'm just getting started.  Quick question.  Does the app do this ^^^ calculation for you?  If not, what is the formula y'all are using for your monthly APR?  I know how to calculate interest; I just want to ensure I'm being consistent with y'all for reference.

there's a tab that does it automagically for you on the app and then you get a monthly email with your wins and APR

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Any interest in creating a Surly Yotta pool?

https://intercom.help/yotta-saving/en/articles/4805448-what-is-pool-play

from what I can tell, you allocate any #of tickets you currently have to the pool. Then any winnings for any of the tickets are split by the pool based on how many tickets you contribute as a percentage of the total.

Let me know. I’ve created a pool but I can only invite with your mobile #. 

Edited by Nice Guy Eddie
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13 hours ago, Nice Guy Eddie said:

Any interest in creating a Surly Yotta pool?

https://intercom.help/yotta-saving/en/articles/4805448-what-is-pool-play

from what I can tell, you allocate any #of tickets you currently have to the pool. Then any winnings for any of the tickets are split by the pool based on how many tickets you contribute as a percentage of the total.

Let me know. I’ve created a pool but I can only invite with your mobile #. 

by the way, the above suggestion is not something that we manage outside of Yotta, it's a new feature within Yotta.  It would especially help someone that has fewer tickets, at least earn something each week. Obviously they would earn less than someone with more tickets.  (FYI, you have to download the latest Yotta app update to participate)

Tagging @CBT @nineliveslost @Johnny Chimpo @40acredropout @gsoda3 @Knoxtnhorn @TKthunder2 @Viper any interest? 

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15 hours ago, Nice Guy Eddie said:

Any interest in creating a Surly Yotta pool?

https://intercom.help/yotta-saving/en/articles/4805448-what-is-pool-play

from what I can tell, you allocate any #of tickets you currently have to the pool. Then any winnings for any of the tickets are split by the pool based on how many tickets you contribute as a percentage of the total.

Let me know. I’ve created a pool but I can only invite with your mobile #. 

putting this on next page 

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As meager as 1-2% interest is, yotta looks like the best non-stock (or real estate) place to park cash. CDs are clearly trash. Series I savings bonds appear to be the best option at treasurydirect.gov, with basically the same return as yotta but you're limited to $10k/year and locked in for 1 year. Is there any vehicle I'm missing? High grade corporate bonds or some shit? Bond funds in general look relatively expensive with much bigger risk than upside to justify buying much of. But I'm a dumbass so I'm open to suggestions.

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