5 Tactics To Save $50k/yr (Lower Taxes, Free Travel, Waived Fees & More)

00:00:00.000 | Today I'm going to share with you five tactics that I've used recently to save money and

00:00:04.880 | maximize my points. I'm going to talk about how I lowered my property tax, drastically reduced the

00:00:09.920 | number of miles I needed for a vacation, cut my credit card annual fees by 50% or more, how you

00:00:15.920 | could get a free companion pass, and I'll share my findings going deep on bank and brokerage bonuses

00:00:21.760 | that could net you thousands of dollars a year. All right, let's talk property tax. If you're new

00:00:27.920 | here or missed episode 142, I covered how many states and counties actually let you appeal your

00:00:33.680 | home value and thus reduce your property taxes for the year. I actually learned the ins and outs of

00:00:39.200 | this from a guy named Colton who founded this amazing site called OwnWell, but I want to share

00:00:44.080 | the results of my process. So back in November, I filed an appeal. I paid a $30 fee where I only

00:00:51.440 | needed to put my stated value on a form. So there was the register value that they said my home was

00:00:56.960 | worth and based the property taxes on. I said it was worth a number that was 23% lower than that

00:01:02.560 | number. Now I'd done some work to support that value, looking at sales comps from the assessing

00:01:08.240 | date, which for our county was January 1st, 2023, and then I built a little spreadsheet model to

00:01:13.840 | adjust those prices based on the fluctuating average home price data in the zip code I'm in

00:01:19.200 | that I got from Zillow, which kind of means if some sale happened in October and then the assessor

00:01:26.400 | date is January 1st, I looked at how home prices changed between October and January 1st and I

00:01:32.160 | adjusted them accordingly. And then also I looked at how the individual houses might have differed

00:01:37.040 | from mine, mostly in terms of square footage, but could be from other features. So that's how I

00:01:42.640 | arrived at a number that ended up being about 23% lower than what the county valued my home at.

00:01:47.760 | And a few months later, once the county had entered my appeal into the system,

00:01:52.640 | I followed up and emailed the assessor that spreadsheet. So the first application just

00:01:57.120 | needed a number, but I wanted to defend that number. So I emailed the spreadsheet and said,

00:02:01.840 | "Hey, here's this information." They said, "We're not going to do any of this until you have a

00:02:05.920 | hearing date set." So that hearing date was set for July 11th. And sure enough, on June 27th,

00:02:12.240 | just a couple of weeks before, I got an email that said my value was warranted and the price

00:02:17.840 | would be reduced. I honestly couldn't believe it. I had expected that I would need to negotiate,

00:02:22.400 | maybe they would come in and say, "Hey, actually 10%." And I'd say, "15." But I didn't. They just

00:02:27.120 | took my price, which was a 23% reduction. And ultimately my property taxes, which I've already

00:02:33.520 | paid, will be reduced by that amount. And I believe I will get a refund check for that amount,

00:02:38.800 | which in the Bay Area, 23% reduction can be thousands of dollars. Now I had assumed incorrectly

00:02:45.360 | that in California, when you reduce your home's value for property tax, it would carry forward

00:02:50.560 | into the future based on this Prop 8 that we have, that property taxes don't get reassessed each year.

00:02:56.080 | But sadly, that's not the case. You can appeal the base value of your home, which is the price

00:03:02.000 | by which it adjusts with a very low cost of living adjustment over time. But in order to do that,

00:03:08.560 | you need to argue that the purchase price that you paid wasn't actually a fair price at the time.

00:03:14.400 | So it's really hard to do that if you had a free market transaction. Maybe you could argue that

00:03:18.640 | your real estate agent deceived you and led you to make an unfair offer, but it's very difficult.

00:03:25.200 | So what I'm going to do, as long as interest rates are high, and I believe that our home could be

00:03:30.560 | argued to be undervalued, is just find a few sales comps every year in our neighborhood,

00:03:36.240 | use the same model that I have or a new model to update that amount and file an appeal every year

00:03:42.560 | until the market prices of homes actually exceeds what's on the books. Eventually in California,

00:03:47.440 | that'll happen because the Prop 8 limitations kind of really keep your property tax not much

00:03:52.960 | higher than what you paid for. So in some number of years, this will stop being a thing. But until

00:03:57.680 | then, I'm going to file this each year. And if you live in other states, it can be even more

00:04:02.400 | lucrative. So I definitely encourage homeowners to check into this. If you don't want to deal with

00:04:07.200 | the hassle of going through all of the state and county rules, building your own models that

00:04:11.440 | support evaluation, filling in the documents, check out OwnWell. They've done an amazing job

00:04:16.640 | of automating this entire process. Their model is that they just take 35% of what they save you.

00:04:22.480 | If they don't save you anything, they don't get paid. So if you had a property tax bill that got

00:04:26.960 | reduced down $2,500, they would take $875 and you would get to keep the rest.

00:04:32.880 | Honestly, when I look at all the work I did with the models, the back and forth, the emails,

00:04:37.760 | the time I spent on it, I might just use OwnWell next year to repeat this process.

00:04:43.360 | They did offer to give listeners a deal at allthehacks.com/ownwell. I can't actually

00:04:48.800 | remember what the discount is, but it should show up when you go through the process.

00:04:52.640 | Another ongoing update is around award booking. And it's about this summer trip that we're taking

00:04:57.760 | to Europe. I mentioned in episode 175, how we managed to find five seats one way to Paris in

00:05:03.920 | business class this summer for 45,000 Air France points, plus about $300 in taxes per person,

00:05:10.560 | but we didn't actually have a return. And so I just set up some alerts with award tool and

00:05:15.680 | seats.arrow. And sure enough, we got an alert a couple of weeks ago that five seats popped up

00:05:21.440 | on United direct from Amsterdam to San Francisco, just 12 days after we arrived in Paris, which was

00:05:27.760 | perfect timing for us. But it introduced an interesting decision that I thought sharing

00:05:33.200 | with you would be really valuable because where you book the flight has such a big impact on how

00:05:39.280 | much it costs. So despite that this was a United flight, I could have booked it through most other

00:05:45.520 | Star Alliance carriers. So I narrowed it down to a few options. First was just book it on United

00:05:51.920 | for 80,000 points, plus $93 in taxes per person, free cancellation, which was an awesome benefit.

00:05:58.960 | And you can get United points transferring from chase or built one-to-one. So I almost just did

00:06:04.160 | that not remembering about all of these other options. And then it dawned on me to go check.

00:06:08.960 | And sure enough, there were some really compelling ones. So first off, I could have just booked it

00:06:13.600 | on Air Canada, same flight as United, but only 70,000 points and $144 in taxes per person.

00:06:20.720 | Now, because of a 20% transfer bonus, it would only end up costing 58,333 chase points. Sometimes

00:06:29.680 | you have to round up to make sure you transfer an even number. And that number would have gone even

00:06:34.400 | lower if I had a chase Aeroplan card, because they were offering a 30% transfer bonus. The issue here

00:06:41.280 | was that it came with a cancellation fee. So that cancellation fee is 150 Canadian dollars or 110

00:06:47.200 | US dollars. However, one of the great features of Aeroplan is that when you're booking a flight,

00:06:52.800 | you kind of get two choices. You can pay more points and get a flexible free cancellation ticket.

00:06:58.320 | So for 85,000 points, you got free cancellation, and I wouldn't risk having to pay anything if we

00:07:03.600 | needed to change or cancel in the future. Now, with that transfer bonus of 20%, it would have

00:07:09.040 | only been 71,833 points plus the $144 in taxes to book a refundable flight on Air Canada that roughly

00:07:18.400 | matched what was happening on United because United has free cancellation. So that means that

00:07:23.600 | I'm paying about $50 more in taxes to save about 8,000 points. So already that's comparable. However,

00:07:30.640 | a few people shared with me a trick that I didn't know about. And that's that when you go to change

00:07:35.360 | an Aeroplan itinerary, you don't lose the space that you've secured if you add on another leg,

00:07:41.120 | but you do get to reprice things. And so if you add on a leg that wouldn't change the overall

00:07:45.680 | price. So for us, maybe we add on San Francisco to LA. Well, now we get to reprice it. And at that

00:07:50.960 | point in time, we could choose to reprice it as the non-refundable version and get back those

00:07:57.440 | 15,000 points. And so that's one option we thought about was, okay, well, let's switch to Amsterdam,

00:08:03.920 | to San Francisco, and then add on a flight to LAX or some other place on the West coast.

00:08:08.880 | And it's not really going to change the price. We would just grab our bags in SFO,

00:08:13.120 | not take that last leg. So that is one option. The other option would be while we still have

00:08:17.920 | a flexible flight, we could change it to have an LA leg for the same 85,000 points and then change

00:08:24.960 | it back to have a direct flight, not include the leg and ask them if they could change it to the

00:08:29.920 | 70,000 point version and get back those 15,000 points. So haven't played with that trick would

00:08:36.000 | encourage people to try search around online. And that would be a great option. And actually

00:08:40.240 | another benefit of this option for us was that back when built had a 100% transfer bonus to

00:08:45.920 | Aeroplan, I transferred a bunch of built points over. So I had almost all the points I needed.

00:08:51.200 | And if you look at a hundred percent transfer bonus and being able to get this flight for 70,000

00:08:55.760 | points, then that was effectively a cost of 35,000 points, at least built points for this flight.

00:09:02.000 | So that was an amazing deal. So it seemed like the obvious choice, but there was a third option

00:09:07.200 | worth considering. And that was with Avianca Life Miles. Now through Life Miles, the starting price

00:09:13.440 | was only 63,000 points plus $115 in taxes. And there was a 15% transfer bonus from Amex, which

00:09:21.920 | would have brought the total to just shy of 55,000 points, which is better than Aeroplan, better than

00:09:27.840 | United. Similar to Aeroplan though, there is a hefty cancellation fee. So $200 per person, which

00:09:34.400 | given the uncertainty we had on this trip, we weren't really willing to risk having to cancel

00:09:40.000 | five tickets and paying $1,000. However, Avianca has the Life Miles plus subscription, which can

00:09:46.720 | come in tremendous handy in these situations. So for $30 a month, you subscribe to Life Miles plus

00:09:53.840 | basic and that gets you free cancellation. It also gets you 2000 miles per month deposited

00:09:59.760 | into your account. And you get a 10% rebate on award flights. The only catch is you need to

00:10:06.160 | subscribe for six months at a minimum. So that means for us $30 a month, six months, $180. And

00:10:12.960 | if you kind of split it out over the five tickets we were booking, it's 36 extra dollars per person,

00:10:18.720 | but you would get back a total of 31,500 miles because you're getting that 10% rebate. And you

00:10:25.200 | would earn 2000 points per month for the next six months, which is another 12,000 points.

00:10:30.240 | Yes, I would need to transfer the whole total of about 55,000 points per person over to book the

00:10:36.880 | flights, but I would end up with 43,500 Life Miles left over. So you could argue that the total cost

00:10:45.520 | was only 232,000 points, which is only 46,000 points per person. So here I was starting at

00:10:51.680 | United at 80,000 points, reducing that cost all the way down to potentially 46,000 points for the

00:10:58.400 | exact same flight, which is amazing. So the Life Miles deal is a great example of how much better

00:11:05.120 | a deal you can get if you dig a little bit further. And like I said earlier, I almost just

00:11:09.920 | booked the United flight without thinking, so I'm glad I didn't. The final comparison, United at

00:11:15.920 | 80,000 points plus $93, Aeroplan at 58,000 or 72,000 points, at least ultimate rewards points,

00:11:24.000 | depending on whether I wanted to be able to cancel it. And then Life Miles at 55,000 or 46,000,

00:11:31.360 | depending on whether I wanted to pay the extra $36 per person to get Life Miles plus on top of

00:11:36.880 | the $115 taxes per person. So from my standpoint, the Life Miles deal was absolutely the best.

00:11:43.520 | And it's what I would have done because how often do you get to book five international

00:11:47.920 | business class flights between the West Coast and Europe for less than 250,000 total points

00:11:54.080 | under $150 a person in taxes and fees, including that Life Miles plus subscription. So I absolutely

00:12:00.880 | would have done that, except that I had already transferred points to Aeroplan back when built

00:12:06.880 | had that a hundred percent bonus and I had no current plan for them. So I decided to go with

00:12:12.480 | the Aeroplan route and I booked it at the changeable cancelable 85,000 point level.

00:12:18.880 | And I will get back to you in the future. If we end up trying to switch it to get to the 70,000

00:12:24.880 | point level and save those points. Now, the irony of all of this is that I actually forgot to turn

00:12:31.440 | off all the alerts after I booked this flight. And then three days later, Air France popped up

00:12:37.360 | on the exact same day for Paris to San Francisco flights for only 50,000 Air France miles. Now

00:12:44.640 | the taxes and fees were about $275. So greater than all the other options, but for a simple

00:12:51.120 | choice, not even requiring a transfer bonus, which oftentimes there are to Air France was another

00:12:57.200 | great option. So I didn't change that because I'd already booked it in Aeroplan and it was pretty

00:13:02.400 | close, but I had three big takeaways for you. One deals pop up all the time, even for prime

00:13:09.120 | time travel. I was looking for flights to Europe for five people direct in business class in the

00:13:15.840 | summer, which is a very hard time to find awards. I got multiple options in the 45 to 75, 80,000

00:13:23.360 | point range for that over the course of a couple of weeks on short notice, but not like one week

00:13:29.360 | before short notice, like a month, two months before it did take a little bit of flexibility

00:13:34.240 | around dates. We were flexible over the course of about a month when we would leave and depart

00:13:39.600 | and a little bit on where we went. We were just looking at alerts for direct flights to and from

00:13:44.640 | San Francisco, figuring we could easily buy a ticket from Paris or Frankfurt or Amsterdam or

00:13:51.600 | Zurich to somewhere else in Europe at a really low cost and end up with only one layover and

00:13:57.040 | have no problem doing that leg in a cheap flight. If you haven't already checked out the other two

00:14:01.360 | episodes we did on award booking tools, then you can find them for flights. It was episode 166 and

00:14:07.280 | hotels 167. Definitely check those out. Takeaway number two, don't forget that because you find a

00:14:14.400 | flight on one airline like United, in my case, it absolutely does not mean you need to book it

00:14:19.440 | through United's award program. And in many cases, it's going to be a much worse deal.

00:14:26.080 | Takeaway number three, there is so much value in having transferable points, especially across

00:14:31.680 | multiple programs. In my example, if I didn't have chase points, then I wouldn't have gotten

00:14:36.480 | the 20% aero plan transfer bonus or have even been able to transfer to United if that was the best

00:14:42.080 | option. If I didn't have Amex points, I couldn't have gotten the 15% bonus to life miles. So

00:14:47.440 | definitely keep that in mind. If you're looking to boost your points balance, we have links to

00:14:51.440 | the top credit cards and bonuses at all the hacks.com/cards using those links really does

00:14:56.800 | help support the show. So I appreciate everyone who does use them. Speaking of free travel,

00:15:02.800 | let's talk about the Southwest companion pass. Now I've talked before about how great companion

00:15:07.760 | passes because for the year you earn it and the entire next year, you get to select one person

00:15:13.680 | and they fly free with you only paying taxes and fees, which can be as low as $5 and 60 cents per

00:15:19.280 | flight. And you can change your companion up to three times a year. Now, normally it takes

00:15:25.200 | 135,000 Southwest points to earn companion pass. However, unlike many other programs,

00:15:32.400 | the points you earn through the Southwest credit card do count. And just having the

00:15:37.360 | Southwest credit card reduces what you need to 125,000. So often the strategy is to open up a

00:15:43.440 | personal and a business card and get the welcome bonus on both. And that'll get you to your 125,000

00:15:49.200 | points. Now the timing of this is really important because if you're going to get it the year you

00:15:54.880 | earn the bonus and the entire next year, you'd much rather earn it in January or February than

00:16:00.320 | December. And so I always advocate people try to earn those two bonuses or all the points you can

00:16:06.560 | as early in the year as possible. And it's based on when the statement closes on the statement that

00:16:12.720 | you hit the spend to get the bonus. So you want to be really careful here because one time about,

00:16:18.880 | maybe six, seven years ago, I mistakenly spent too much on a card and I hit one of the bonuses

00:16:25.040 | in December and the next bonus in January. So I was kind of out of luck back then you could actually

00:16:30.880 | transfer Marriott points to Southwest and they would count towards companion pass. I don't think

00:16:36.000 | they do anymore. And so in January, I, even though I had these two bonuses, I had to transfer points

00:16:41.680 | over again to hit the bonus, which was a huge bummer. However, right now the two Southwest

00:16:47.200 | business cards each have welcome bonuses that can earn you 120,000 points, which is the best offer I

00:16:53.920 | have ever seen. It means that after you spend the $15,000, you need to get that welcome bonus.

00:17:00.160 | You will, which you will also earn points for, you will be over the limit for companion pass,

00:17:04.640 | and you can get it this year and next year with just one card. Plus you can use all the points

00:17:11.840 | you've gotten to book your flights and still use a companion. So those 135,000 points you'd earn

00:17:18.640 | from the welcome bonus and the spend to get it would be worth about $1,755 of travel.

00:17:25.200 | So one signup bonus for one Southwest business card gets you companion pass and $1,755 of travel.

00:17:33.840 | So when you factor in that your companion is getting the same travel as you, that could be

00:17:38.640 | worth over $3,500, which is a huge signup bonus and much bigger than almost any other signup bonus

00:17:46.080 | I've seen out there that only takes $15,000 of spend. Now, if you don't think you have a business,

00:17:51.600 | keep in mind that you might be surprised. Even things like blogs, newsletters, being an Etsy

00:17:56.880 | seller, an Uber driver, a freelance consultant, all those things can count and they can be so

00:18:02.560 | early in the life cycle of your business that they might not be even making money yet.

00:18:07.360 | You can also apply as a sole proprietor under your own social security number instead of needing a

00:18:11.840 | business with a tax ID. So I just think that there are a lot of people that might be more eligible

00:18:16.560 | for business cards than they think. Now we have links to both of those offers at allthehacks.com/cards.

00:18:22.880 | Just note that the way they're written all over, you don't actually see the 120,000 point bonus

00:18:28.640 | anywhere because how it really works is for the premier business, you earn 60,000 points after

00:18:33.520 | you spend $3,000 in three months and another 60,000 points when you get to $15,000 spent in

00:18:39.840 | nine months. On the performance business, it's pretty similar, 80,000 after spending 5,000 in

00:18:45.120 | three months, and then the additional 40,000 when you get to $15,000 of spend in nine months.

00:18:50.400 | As for which card, the performance business card does have an annual fee that's $100 more,

00:18:56.160 | but it does come with 3,000 Southwest points a year, which is worth about $40.

00:19:00.480 | You get four A1 through 15 boarding passes, and you get $365 in-flight Wi-Fi credits per year,

00:19:09.040 | which covers an all-day pass for Southwest Wi-Fi. I really hope you're not traveling enough to use

00:19:13.840 | 365 credits, but it is there. So I think if you travel enough that the companion pass is going

00:19:19.600 | to be worth it, then those extras are probably worth it. But if you don't, the premier card will

00:19:25.600 | save you $100 on the annual fee, and it does come with two early bird check-ins. So Southwest

00:19:31.040 | companion pass, amazing opportunity. Normally, I might consider waiting until January or February

00:19:36.720 | to try to get this, but this is a rare opportunity to get it with one card. So if you had a lot of

00:19:41.920 | travel coming up in the rest of the year, this could be really, really awesome. Speaking of

00:19:46.080 | credit cards and annual fees, there's another thing that happened recently, and I get lots of

00:19:49.680 | listener questions about it, and that is how to avoid annual fees. So I've talked in the past

00:19:54.800 | about if you have a card and you don't want to keep paying the annual fee, one option is to

00:19:59.280 | downgrade the card to another card in the family. But my favorite option happened this year when I

00:20:04.640 | got my $695 Amex Platinum annual fee. Now, I think that's a pretty high fee, but I think I also

00:20:11.920 | probably get enough value to justify keeping it, getting 5X points on airfare, getting Uber credits

00:20:17.840 | throughout the year, airline credits throughout the year, which are actually really easy to cash

00:20:21.760 | out towards United and Southwest. I get Saks credit, though I definitely don't value it at

00:20:26.960 | a full amount because I am certainly not normally buying $30 underwear or whatever I get from Saks

00:20:32.800 | that's overpriced. And I do go to the Centurion Lounge a couple of times a year. However, that

00:20:38.160 | doesn't mean that I'm not going to try to ask for a deal. So I pop open the live chat on the Amex

00:20:43.760 | site. I said, "Hey, I noticed my annual fee has just posted, and it just feels high relative to

00:20:49.120 | all the benefits," which is true. $695 is a really big annual fee. I asked if there were any way to

00:20:54.800 | get it reduced at all. Took a little bit of back and forth. The agent is always saying, "Hey,

00:20:59.440 | let me tell you about this. Have you heard about this benefit? Have you heard about this benefit?"

00:21:02.560 | And you go, "No, yes. I'm not able to use the Equinox benefit because I don't go to Equinox,"

00:21:07.440 | stuff like that. And ultimately, you get an offer. Now, in the past, I've gotten some amazing

00:21:12.080 | offers. One year, they offered to just waive the annual fee entirely, no requirements. This year,

00:21:17.200 | my offer was 25,000 points if I can put $3,000 on the card in the next three months.

00:21:22.720 | Now, that's over nine points per dollar, so that's worth at least $400 to me. And so I said,

00:21:28.800 | "Yes, I moved on, and I'm going to cut my annual fee down by more than 50%." It took less than

00:21:34.560 | five minutes, and I was able to do it on live chat, so I was also able to get some work done

00:21:38.800 | at the same time. Highly recommend anyone with a high annual fee on a card you'd like to keep

00:21:44.720 | just going and asking. You can search Flyertalk or Reddit on retention offers,

00:21:49.440 | which is what these are often called, and get lots of data points of what other people are seeing

00:21:54.080 | to try to ballpark whether what you're being offered seems reasonable.

00:21:57.200 | Amex seems to always say, "This is the only offer we have today, but we might have something

00:22:01.120 | different tomorrow, so you're welcome to try back." This offer seemed fair for what I thought

00:22:06.080 | other people were getting, and so I just went for it. Okay. Since recording, a few other welcome

00:22:11.040 | bonuses have come out that I really wanted to share, two of which are best ever offers. First,

00:22:16.400 | the Chase, Inc. Business Preferred is now offering 120,000 chase points after spending 8,000 in three

00:22:22.960 | months. 120,000 chase points is worth at least $1,500 through the Chase Travel Portal, if not

00:22:29.040 | more by transferring to different airlines, and this card only has an annual fee of $95, so this

00:22:35.120 | might be one of the best ROIs for transferable points and is definitely a best ever offer for

00:22:40.640 | this card. And as I said earlier, you might be a lot more eligible for a business card than you

00:22:45.120 | actually think. Next is the Chase IHG Premier card, which has a best ever five free night offer

00:22:51.360 | after spending $4,000 in three months. This is a consumer card and only has a $99 annual fee,

00:22:57.360 | so five free nights is an awesome benefit. The nights are capped at 60,000 points per night,

00:23:03.200 | but in the past, they've let you use IHG points to top off those free nights with additional points

00:23:08.800 | if you want to stay at a more expensive property. And finally, I think I've mentioned this before,

00:23:13.600 | but the Hilton and Hilton Surpass Amex cards both come with a free night offer and 70,000 and 130,000

00:23:21.760 | points respectively if you apply by the end of July and spend $2,000 or $3,000 in the first six

00:23:27.760 | months. While these are only one free night, they can be used at pretty much any Hilton, Waldorf,

00:23:32.960 | Conrad, SLH property worldwide with standard availability, which means you could be saving

00:23:38.080 | over $1,000 a night. Links to all those card bonuses are at allthehacks.com/cards, and it

00:23:43.760 | really means the world to me when you guys use them. Thank you so much for supporting me. Okay,

00:23:47.680 | back to the original recording. Now for the main event today, I want to talk about bank and

00:23:52.000 | brokerage bonuses. So after recording my episode with Kai on finding profitable deals a few weeks

00:23:57.920 | ago, I started really digging into a lot of the deals we talked about. And I started with bank

00:24:03.760 | and brokerage bonuses, and I wanted to share everything I learned. So first let's talk bank

00:24:08.800 | bonuses. High level, I decided to break all the bank bonuses up into three different categories.

00:24:15.040 | The first category is kind of the big spender one. If you can deposit over $100,000, you can

00:24:20.560 | actually get a bonus of over $1,000. Now we'll get to brokerage bonuses later, and if you have

00:24:26.160 | that much money, why they might be a better option, but that was category one. Category two

00:24:30.960 | is for depositing anywhere from about $10,000 to $50,000, getting a bonus of anywhere from $100

00:24:36.400 | to $900. Last is the same bonus, $100 to $900 bonuses, but only needing to deposit as little

00:24:43.360 | as $1,000. But in this category, you also need to do a direct deposit. So one category, you deposit

00:24:49.360 | more money. Next one, less money, but you have to move your direct deposit over. Now, Doctor of

00:24:54.560 | Credit has a great page that I'll link to in the show notes with all the bank bonuses here. There

00:24:59.440 | are also some at allthehacks.com/bankbonus. So you can check out both those links if you want to go

00:25:04.720 | find bank bonuses. Some of the deals are lifetime. Most of the bonuses require you keep money at the

00:25:10.880 | institution for about 90 days. Some of them have lifetime language, but some of them you can

00:25:15.680 | actually repeat every one to two years. I'd recommend looking at the comments on Doctor

00:25:20.000 | of Credit posts because you can go in and see what people have had experience with,

00:25:23.680 | and sometimes they can be repeatable. Also note that bank bonuses are taxable. And so yes,

00:25:30.400 | you might make an $800 bonus, but you are very likely going to get a 1099 and you absolutely

00:25:35.360 | need to report that to the IRS if you want to abide by the law. So you will not get the full

00:25:40.240 | amount tax-free. Finally, before I kind of break down the analysis, I'll talk about how available

00:25:45.040 | these are. At that $100,000 plus level where you're getting $1,000 bonus or more, there aren't

00:25:51.120 | that many options, maybe a dozen, half a dozen, somewhere in that range. But on the other bonuses

00:25:57.520 | where you're depositing much less, there are so many. At just national banks, maybe it's a dozen

00:26:03.680 | or two dozen, but if you start including local credit unions, which the Doctor of Credit page has,

00:26:09.120 | there are so many bonuses that you could probably do this 20 times a year if you wanted to.

00:26:15.280 | Um, most of them range in the hundred to kind of 200, 500 range, some as high as 750.

00:26:21.360 | And as I mentioned earlier, there's at least a couple that are pushing close to a thousand,

00:26:25.360 | but don't require a six-figure deposit. So when I went through this analysis of trying to just

00:26:29.520 | break down what these bonuses looked like, not only did I look at everything out there today,

00:26:33.680 | but I also went to archive.org and I looked at a lot of the old bonuses over the past few years

00:26:38.800 | to try to give you a sense of what you can expect. And I was looking at the bonus relative

00:26:44.400 | to the balance you need. I was looking at the number of days you need to have the bonus there.

00:26:48.800 | And I was looking at what interest rate you'd actually earn on the cash. So if you have to put

00:26:52.800 | a bunch of money in an account that earns 0%, it's not really that exciting of a bonus unless it's

00:26:58.080 | really, really big relative to a bonus that's similar, but will also pay you four or 5%.

00:27:02.640 | So in that first bucket of a thousand dollar plus bonuses for a hundred thousand dollar plus deposit,

00:27:10.400 | I looked at nine different offers from banks like Capital One, Citi, Chase, Wells, HSBC.

00:27:16.320 | The bonus basically ranged from one to $3,000 for depositing a hundred thousand to $500,000.

00:27:21.520 | And for almost all of them, you needed to hold the funds there for 90 days.

00:27:25.680 | And so if you look at all of them and you take the bonus and divide it by the deposit,

00:27:31.280 | just looking at the ROI on the bonus, but not looking at it over the year, but actually

00:27:37.760 | annualizing it because you only need those funds there for 90 days.

00:27:41.600 | What I found was that the ROI was somewhere between two and a half to 6% as an annualized yield.

00:27:47.840 | So the best one out there was HSBC and Capital One, where you could deposit a hundred thousand

00:27:52.800 | dollars for 90 days and you'd get $1,500. So that's about a 6.08% return. And then the worst

00:27:59.920 | ROI was Chase Private Client giving you $3,000 for depositing $500,000 for 90 days,

00:28:06.400 | which is about a 2.4% return. Now that's just the annualized benefit of the bonus.

00:28:11.520 | There's also the benefit you get from earning interest on the cash you deposit.

00:28:16.240 | And in this tranche of bonuses above a hundred thousand dollar deposits,

00:28:20.640 | every single one of the institutions I looked at either paid a high yield amount of money

00:28:25.280 | at least for the 90 days you deposited the money, or let you put the balance that you need into a

00:28:31.840 | linked brokerage account where you could earn yield on money market funds at the 5% or greater

00:28:37.840 | level. And so your total APY for those 90 days annualized is anywhere from 8 to 11%,

00:28:44.400 | which is pretty good and is much better than the 5% you might get putting it in a high yield

00:28:49.680 | savings account. Now it is only for 90 days, but it's not that difficult to move money around.

00:28:55.680 | These don't require you changing your direct deposit either.

00:28:58.480 | Moving on to the second group, I looked at seven different offers from banks like Capital One,

00:29:02.720 | Citi, Wells Fargo, Discover, Citizens, and the bonuses ranged from $150 to $750

00:29:08.720 | for depositing somewhere between 10 and $50,000. Now, if you want to look at the annualized benefit,

00:29:16.400 | the deposit requirements were anywhere from about a month and a half to five months.

00:29:21.360 | And so the annualized yield was about 6 to 12% on these bonuses.

00:29:26.320 | So what you'll see is that the lower dollar amounts you deposit, the higher

00:29:30.880 | kind of annualized yield you get. And so the outlier there was Citizens,

00:29:35.360 | which would give you $500 for depositing $10,000 for five months.

00:29:39.920 | And so if you annualize that, that's a 12% return, but it's only on $10,000.

00:29:45.760 | So if you have $10,000 and that's it, this is great. If you have $100,000,

00:29:49.920 | you'd need to find 10 offers like this, and that would probably be exhausting.

00:29:54.400 | Second best was Wells Fargo at $525. If you deposit $25,000, just some more examples,

00:30:01.360 | Citi was offering $500 for $30,000. Both of those were over 90 days.

00:30:06.560 | The worst was Capital One offering $300 for $20,000. And I say the worst of the about seven

00:30:14.720 | best offers I found. There are plenty of banks out there that will give you $0 or give you $50.

00:30:20.560 | And so these were kind of the worst of the best, and they ranged from about 6% to 12%

00:30:25.040 | annualized return on the bonus. However, on these banks, when you start to look at the APY you earn

00:30:33.360 | on the cash, there was a wild varying difference. Wells Fargo, 0.01%, Citizens, 0.07%,

00:30:41.280 | Capital One, 4.25%, and Citi, 4.75%. So here's where it matters, not just what the bonus

00:30:50.240 | return is, but also what the underlying APY return. So because Citizens was giving such a

00:30:56.400 | good bonus relative to the balance, they still had a net APY when you stack the bonus with the

00:31:02.560 | underlying earnings to 12%. But Citi, when you stack the 6.8% bonus plus the 4.75% APY,

00:31:12.080 | it was an effective 11.5% bonus also. So while those looked very, very different ahead of time,

00:31:18.720 | when you actually realized that Citi was giving you high yield on the cash and paying you a bonus,

00:31:23.760 | it was almost comparable to Citizens. And then Wells Fargo, while it was kind of middle of the

00:31:28.960 | pack when it got started, the fact that they paid 0% interest on anything made it the worst

00:31:34.240 | bonus of all. And so that effective total APY bonus of all of these accounts ranged from 8.5%

00:31:40.320 | to a little shy of 12.5%, which again, compared to 5% if you're just in a high yield savings account,

00:31:47.600 | is more than double at the high end. Now, the percentage returns get really crazy when you're

00:31:54.000 | willing to move your direct deposit. So I looked at what I thought was kind of the eight best

00:31:58.160 | offers, similar institutions, but also included SoFi, Chase, PNC, Bank of America, and the bonuses

00:32:04.880 | were similar, $200 to $900, but you only needed to deposit $1,000 to $15,000. And so if you look,

00:32:12.480 | most of the time the range was 90 to 120 days. The actual bonus APY, meaning what is the bonus

00:32:19.360 | divided by the balance you need, and then annualize it was crazy. It was from 24 to 200%.

00:32:26.160 | And so the top bonus was Axios Bank, $500 for depositing $3,000 for just 30 days. So that's

00:32:36.080 | how you get to 200% return because you get $500 on $3,000, which is about 16% return

00:32:42.160 | in just 30 days. So if you annualize that, multiply it by 12, it's just wild and way more

00:32:47.680 | APY than you'll get anywhere else. It did require that you have at least $1,500 of direct deposit.

00:32:53.680 | And so the way a lot of these situations work is if your employer makes it really easy to log into

00:32:58.880 | their portal, you can go in and say, "Oh, I'm going to split my paycheck this month." And then

00:33:04.320 | you could turn it off down the road if you want. There are a number of reports in the comments on

00:33:09.360 | Doctor of Credit about what classifies as a direct deposit. There are some types of transfers that

00:33:15.040 | you can make between accounts doing ACH pushes and stuff that will show up and count as electronic

00:33:20.640 | transfers, but you'd have to go in on a per institution basis. The tried and true is to

00:33:25.760 | just switch your direct deposit. If you have enough income that splitting off part of your

00:33:30.240 | direct deposit will let you maintain your cashflow needs in your primary account, but then also meet

00:33:36.400 | the minimums on these bonuses, that's great. If not, you might have to move things around a little

00:33:41.600 | bit for a few months if you want to try to go for them. Second best bonus was Wells Fargo. You get

00:33:47.280 | $325 if you have a balance of $1,000 for 90 days and you need $1,000 direct deposit. So earning

00:33:55.120 | 325 on 1,000 over 90 days is an annualized APY of 129%. The worst of all of these, still better than

00:34:04.480 | all the previous ones, is Chase offering $900 if you deposit $15,000 for 90 days, which ends up

00:34:13.520 | being an annualized 24%. You do need a direct deposit, but I believe the minimum is $1.

00:34:18.880 | That is a pretty decent direct deposit requirement, probably easy to split your

00:34:24.000 | paycheck there if your payroll company that your employer uses allows that.

00:34:29.920 | Unfortunately, in this category, the range of APY you're going to get on your underlying cash,

00:34:34.880 | meaning the interest you earn on the balances, is pretty low. Unfortunately,

00:34:38.960 | in this group of bonuses, how much interest you'll actually earn on your deposits varies widely. PNC,

00:34:45.920 | SoFi, and Axos were all paying over 3%. The rest were pretty much 0%, maybe 0.01%.

00:34:52.000 | However, this is way less relevant because the bonuses were so high and the balances were so low.

00:34:59.200 | If you look at that Wells Fargo example, yes, you don't earn any interest, but you only have

00:35:04.400 | to deposit $1,000. How much interest would you be foregoing over something like the Wealthfront

00:35:10.160 | account? 90 days, $1,000 is only going to earn, let's see, $12.32. Especially after taxes,

00:35:21.760 | is that even a barrier in this circumstance? Probably not. The total APY here is not really

00:35:27.200 | as big of a factor as is the amount of the bonus and that effective APY annualized for how often

00:35:33.600 | you have to do it. I knew I threw a lot of numbers out there. I'm going to summarize this and I'll

00:35:40.240 | put some of these notes into a spreadsheet and share it with all the Hacks members. You can join

00:35:44.320 | if you're interested, allthehacks.com/join, but here's my takeaway. If you had the $100,000 to

00:35:50.800 | move around and you could use those non-direct deposit bonuses, you could probably earn about

00:35:57.520 | on average $1,350 each time you did it. Separately, if you had somewhere between, let's call it $1,000

00:36:07.040 | to $15,000 to do the direct deposit bonuses, you could do those and earn about on average $650.

00:36:15.760 | Here's my hypothetical scenario. You and a player two, every four months, so just three times a year,

00:36:23.600 | you do each one of those. You earn $1,350 from the large balance bonuses. You earn $650 from

00:36:29.840 | the direct deposit bonuses for about $2,000. Every four months across two people, you end up

00:36:36.400 | getting $6,000 a person or $12,000 a year. When I looked at these individually and thought, "Okay,

00:36:42.800 | well, this one I might earn $400. Yes, I have to pay taxes on it. How much hassle is it worth?"

00:36:48.240 | It crossed my mind that, "Is my time really worth this? I don't know." But then I thought, "Wow,

00:36:53.600 | if you could really get a system going that made this pretty straightforward and every four months

00:36:58.000 | you did it, you and a P2 could get to about $12,000 a year." All of a sudden, that's sounding

00:37:04.720 | very, very different. Spending a few hours for $500, depending on your wealth and your income,

00:37:10.960 | may or may not be a good deal. But doing it, figuring out the system that makes it really

00:37:15.200 | simple, and then repeating it throughout the year with your P2 to earn $12,000 a year,

00:37:20.160 | I don't know. It seems really, really interesting. I'll let you be the judge of whether it's worth

00:37:26.640 | your time, but I could definitely see it making sense for lots of people. Or even just waiting

00:37:32.000 | for the really outsized ones. I mentioned Citizens was a great one, if you're at the

00:37:36.800 | level where that balance matters. But waiting for really big bonuses, just like you might wait for

00:37:41.840 | really big signup bonuses on a credit card, is not necessarily a bad option here as well.

00:37:48.480 | The nice thing here though, is that unlike credit cards where you're having hard inquiries,

00:37:52.960 | and you're dealing with card application rules, it is much, much easier to get approved for a

00:37:58.160 | bank account. And they're not doing hard inquiry polls on your credit that's going to affect your

00:38:03.280 | interest rates in the future. So that's bank bonuses. Let's last look at brokerage bonuses.

00:38:08.880 | This one's a bit more interesting to me, because instead of having to move around money and make

00:38:13.120 | sure your cashflow needs are in order, you can actually just transfer positions that you're

00:38:17.760 | holding of stocks or index funds. And while they're in transit, you're not foregoing your

00:38:22.960 | earnings or any growth in those stocks. And you don't really need access to them on a day-to-day

00:38:27.840 | basis. So it's a little bit easier in my mind than a bank bonus, because it's kind of less

00:38:34.080 | invasive into your cashflow. So to evaluate these, I looked at 20 different brokerage bonuses,

00:38:39.200 | and some of them were household names, Schwab, Citi, E-Trade. Some were fintechs like Robinhood,

00:38:44.160 | Webull, and Public. And some were brokerages that I wasn't really familiar with, like Tasty Trade

00:38:49.200 | and Trade Station. All were brokerages with SIPC protection, which usually protects you, I think,

00:38:55.040 | on $500,000 of balance. Similar, but not the same as FDIC insurance. So none of these were

00:39:02.240 | non-protected brokerage firms, but some of them were ones I didn't know.

00:39:07.920 | And what really kicked this off was that when I started doing this research, Robinhood at the time

00:39:13.840 | was offering a 1% bonus on all transfers. And so I really started thinking, "Is that something that

00:39:21.040 | I want to take advantage of?" I had missed when they had previously offered a IRA bonus even

00:39:25.600 | higher, but I'll come back to that at the end. And then I really wanted to do my diligence. I

00:39:31.040 | wanted to make sure I wasn't just looking at bonuses now. So I went to this thread on Bogleheads,

00:39:36.480 | which is kind of an index fund investing community. And I found a thread on brokerage bonuses with

00:39:43.760 | over 8,000 posts. So I wanted to be able to read them, but I definitely didn't want to take the

00:39:48.640 | time to read 8,000 posts. And so I went to ChatGPT and I said, "Hey, could you help me build a tool

00:39:53.440 | that would crawl this website and grab all 8,000 posts and save them?" And it did. And so I built

00:39:59.200 | a little tool that I ran that did that. And then once I had all of those posts saved, I went back

00:40:04.000 | to ChatGPT. I said, "Hey, here are 8,000 posts. They're all posts about brokerage bonuses. I'm

00:40:09.120 | trying to collect all the brokerage bonuses that paid out over $1,000. And can you build me a table

00:40:15.280 | of them with what all of them were?" And so ChatGPT made a table and put them all together.

00:40:19.680 | And then I could process all of them alongside all the bonuses that are out right now. Now,

00:40:24.240 | the good news is that the bonuses that are out right now are pretty competitive with the best

00:40:29.120 | all-time offers. So there aren't that many all-time amazing offers that were missed.

00:40:34.240 | Though, depending on how you view the repeatability of some of these things,

00:40:39.120 | you might find that some of the Robinhood offers were kind of better, but it actually depends on

00:40:44.640 | how you look at them. So we'll get to that. Now, the good news is that of all of these

00:40:48.400 | all-time best offers, they're not that different from offers you can get today.

00:40:52.320 | Sure, the Robinhood offers aren't around anymore, but there are some pretty similar offers from

00:40:56.800 | Webull. And in fact, both of those offers aren't as good as some of the other offers that I'm

00:41:01.280 | going to talk about, depending on what your balances are. So the range of offers is also

00:41:07.440 | really wide. Some firms require you to deposit securities for three months, some as long as

00:41:12.160 | five years, but most of them are in the three to 12 month range. And the minimum amount of securities

00:41:18.480 | that you needed to transfer in or deposit was as low as $50. But some of them were percentage-based

00:41:24.320 | with no caps. Theoretically, your bonus could be five, six, even seven figures if you were

00:41:29.680 | transferring enough money. And the way I thought about these was a little bit of a twofold method.

00:41:34.960 | One, you could look at just the amount of the bonus relative to the account balance you would

00:41:40.400 | be transferring, but it also comes down to how much you want to repeat this each year.

00:41:45.200 | Unlike the bank bonuses, where they're almost all 90 days, here, you might get a little bit more for

00:41:51.040 | a bonus that's 12 months or 24 months, and that might be worth the fact that you don't have to

00:41:56.640 | repeat this if you don't want to. Okay, so here's what I found. For balances under $100,000, it's

00:42:02.880 | very similar to bank bonuses, where the amount you're going to earn ranged from about $100 to

00:42:08.000 | $938, and that required a three-month to 24-month holding period. For the most part, the annualized

00:42:16.640 | yield, meaning if something was only three months, multiplying it by four, was anywhere from three

00:42:22.960 | to 4%. Now, when you go down to balances in the $50 to $500 range, some of the annualized APYs went

00:42:29.840 | wild because E*TRADE is going to give you $100 for a balance of $50, which ends up being about

00:42:37.520 | 400% APY because you only need to have those funds there for six months. But once you start getting

00:42:43.520 | past the $5,000 mark, everything gets a little bit more easier to compare. And the takeaway for

00:42:50.640 | a balance that's under $100,000 is that E*TRADE and TD are probably the best options if you want

00:42:56.320 | to repeat this because they require three to six months, and they're decent bonuses. If you don't

00:43:02.240 | want to repeat it that frequently, Webull and T*TRADE probably had the best earnings for a

00:43:08.880 | longer holding period. Webull at two years, T*TRADE at one year. If you're looking at balances over

00:43:14.080 | $100,000, now you're starting to look at bonuses over $1,000, and some of them scale up and up and

00:43:20.320 | up and up. I think the highest bonus that wasn't based as a percentage or portfolio was as high

00:43:25.360 | as $10,000 with Public and SoFi, but that was into balances over $5 million, so pretty high.

00:43:32.560 | So if you're looking to repeat this, HSBC and Wells Fargo have three-month requirements with

00:43:38.880 | pretty high bonuses for the $100,000 plus range of accounts, those bonuses anywhere from $1,500

00:43:45.520 | to $2,500. In fact, the Wells Fargo $2,500 on a $250,000 balance is effectively 1% return,

00:43:55.040 | which you only have to keep there for three months, which is like a 4% return.

00:43:59.840 | Webull had a 1.25%, but you had to hold it there for two years instead of three months,

00:44:06.640 | and you have to decide how you feel about private company fintechs versus public company banks.

00:44:14.160 | Another interesting option, which I hadn't used, but I have seen that most people don't have

00:44:20.080 | issues is Tasty Trade. They offer $2,000 for $100,000 transfer, $3,000 for a $250,000 transfer,

00:44:28.720 | and $4,000 for a $500,000 transfer. You have to keep the money there for 12 months,

00:44:34.240 | but relative to most other transfers, that was among the highest bonuses you can get.

00:44:39.760 | So just from thinking about how this plays out, that's anywhere from 2% to about 0.8%

00:44:48.160 | is what Tasty Trade offers for one year. Unfortunately, at the million-plus mark,

00:44:53.840 | for anyone listening in that camp, everything starts to look pretty bad compared to what

00:44:58.800 | Robinhood and Webull were offering. Robinhood was offering 1%, Webull, 1.25%. And no matter where

00:45:05.680 | you look, they pretty much all cap out at $5,000 to $10,000, but as a percent of your account,

00:45:12.000 | they're really maxing out at about half a percent. And so if you're looking to get much more than

00:45:17.600 | that without going to Webull or Robinhood, if they bring that promotion back, you're going to

00:45:23.520 | be looking for a while unless you get really lucky. And that is possible. And I'll mention

00:45:28.160 | that in a second because I got an email from a listener that got what I would say the best bonus

00:45:33.520 | offer that I've ever seen, especially based on all this research. Now, if I weren't thinking

00:45:40.560 | about earning bonuses, ideally, I would have all of my stocks at a place where it's easy to trade,

00:45:46.400 | where I can trust it and its interface is good. And for me, that's probably something like Schwab

00:45:53.200 | or Fidelity. Unfortunately, they have among the worst bonuses. And so Fidelity doesn't really

00:45:59.600 | actually have any stated bonuses. I did find an old expired bonus that ends up being depending

00:46:06.640 | on your balance anywhere from 0.1 to 0.5%. But they don't have it right now. However, just for fun,

00:46:12.960 | I opened up a Fidelity account when I was doing all of the testing for best bank accounts. And

00:46:20.640 | a Fidelity rep had called me from our local branch and said, "Hey, I'm calling from the

00:46:24.800 | local branch. Notice you opened an account. I'm here if you need anything." And so I actually

00:46:30.160 | called that person. They didn't answer. I left a voicemail and said, "Hey, I'm thinking about

00:46:33.680 | moving a bunch of assets over. What kind of bonus would you give me if I did it? There are a bunch

00:46:37.680 | of other companies offering bonuses." And they basically said somewhere between 0.1 and 0.2%.

00:46:43.520 | Now, I have no idea if I got the right person. I don't know if they would be willing to be more

00:46:49.280 | flexible. From that Bogleheads forum, a recurring theme was a lot of the established brokerage

00:46:56.720 | firms, you might just have to ask for bonuses and they're not going to publish them. Which comes to

00:47:02.800 | a point that a listener sent, which was they tried to do the Robinhood bonus. They thought,

00:47:07.680 | "You know what? I'm going to transfer all my assets to Robinhood. I'm going to get that 1%

00:47:11.520 | bonus." They had a sizable portfolio in the mid six figures. And the Schwab rep, they were

00:47:18.400 | transferring from Schwab, called him and said, "Hey, I noticed you're trying to transfer to

00:47:23.120 | Robinhood. What if we just gave you a 1% bonus and you had to keep the funds here for a year?"

00:47:28.400 | Now, Robinhood was offering 1% for 2 years, and they didn't have to transfer anything. So they

00:47:33.200 | immediately took it, canceled the transfer, stayed at Schwab. If I could find a Schwab offer to give

00:47:38.480 | 1% on my brokerage account, if anyone from Schwab is listening, I would more than gladly move all of

00:47:44.320 | my stock, investing, ETF, everything assets over to Schwab, call it a day, and not really worry

00:47:51.360 | about this for a while. I don't know if that bonus is possible. I actually emailed back

00:47:55.680 | the listener that told me that and said, "Hey, do you have the name of the person that called you?

00:47:59.280 | I'd love to speak with them." Because ideally, from a simplicity standpoint, I do love

00:48:05.360 | Schwab and Fidelity's platforms, but I was actually willing to do the Robinhood one.

00:48:10.640 | And so funny enough, the night of the transfer, I was like, "You know what? I've done my research.

00:48:15.120 | I'm going to do this. I'm going to move all the individual stocks I own. I'm going to transfer

00:48:18.880 | them all to Robinhood." And I forgot or didn't realize that Robinhood doesn't support trust

00:48:24.480 | accounts. And so they actually wouldn't accept the transfer because my current brokerage account

00:48:29.840 | is titled in our revocable trust. And so what they said I needed to do was transfer everything

00:48:35.280 | from the revocable trust into an account in my name and then transfer to Robinhood.

00:48:39.440 | But for that to happen in the next 24 hours was basically impossible. So it didn't happen.

00:48:44.080 | I'm not too upset about it because there are a lot of other offers that are pretty comparable.

00:48:49.680 | And it was kind of a last minute, "All right, let's do this." But I think if Robinhood came

00:48:55.600 | back with that offer and I had a few days to process things, I think I might take them up on

00:48:59.600 | it. Or I might try to find someone at Schwab to see if I could make that the primary investing

00:49:06.000 | place. So like I said, on the bank bonus side, I've got a spreadsheet where I broke down all

00:49:11.040 | of the bonuses that are out there right now on brokerage by all the different account sizes

00:49:16.640 | and looked at them in two ways. One, amount of bonus, which is the best and the annualized

00:49:22.800 | percentage that bonus represents in terms of return. So I'll share that with all the members.

00:49:27.360 | If you're interested in joining, you can go to allthehacks.com/join.

00:49:30.800 | Okay. Another one since I recorded, Webull came out with a absolutely monster brokerage bonus

00:49:35.920 | that I felt like I had to share. Through July 31st, they are offering a 2% brokerage bonus

00:49:41.840 | on transfers up to $5 million. That means if you move over 50 grand, they'll give you $1,000.

00:49:47.600 | You move over a hundred grand, they'll give you 2,000. Move over a million, get 20,000 and move

00:49:52.640 | over $5 million and they will give you $100,000. They pay half the bonus after one year and the

00:49:58.880 | other half after two years. For large balances, this blows all the other bonuses I've talked about

00:50:04.400 | and actually ever seen out of the water. And they are a SIPC member, so you do have protection on

00:50:09.360 | up to $500,000 of securities. This is definitely one to consider if you can get comfortable with

00:50:14.320 | Webull. That is all I have for today. Thank you so much for listening. The content in episodes

00:50:18.960 | like this comes from questions and comments and feedback from all of you. So please keep sending

00:50:24.080 | those in, podcast@allthehacks.com. If you're enjoying what you're listening to, please go

00:50:28.640 | ahead and follow, give us a thumbs up, subscribe. I'd really appreciate it. Obviously the ultimate

00:50:34.160 | thank you is jumping into Apple podcasts and leaving a review and a five-star rating.

00:50:38.400 | That's all I've got this week. I will see you next week.

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