ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 24, 2019 22:29:08 GMT
This is asking for 100% of your funds in 100% of the time. No point. If you don't want all or any of it, come the time, you simply reinvest or cancel.
However, if your £1k was invested at the rate of £250 every 22/23 days with an immediate withdrawal request then that sets up a rolling system. Alternatively, if you wanted to invest your £1k straight away; you make an immediate request for £250, another £250 in 22/23 days,.......etc.
What is the significance of the 22/23 days? My understanding of the rolling system was that...I can request £100 to withdraw everyday. So in 90 days time, everyday going foward I should be able to withdraw £100 if I want to, otherwise cancel it. Same process everyday. But obviously it will take 90 days to get it fully rolling Am I getting something wrong here? You cant have active withdrawal requests that total more than your invested funds. So if you had £1000 in the account and made 10 £100 withdrawal requests over 10 days, on the 11th there would be no funds showing as available for withdrawal.
The point of the rolling sytem is that it reduces the risk of all funds being trapped at short notice as there is always a percentage well placed in the queue to be withdrawn. It means that in the event of some sign that there is likely to be a problem you are already ahead of the herd in attempting to extract funds rather than having to react quickly to pull the whole lot. You cant eliminate the risk altogether.
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trium
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Post by trium on Apr 24, 2019 23:09:08 GMT
What is the significance of the 22/23 days?It's a quarter of 90 days and is therefore the appropriate interval for requesting successive withdrawals of a quarter of your investment (which was the scenario in the example given by madmitch )
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number5
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Post by number5 on Apr 25, 2019 6:16:53 GMT
What is the significance of the 22/23 days? My understanding of the rolling system was that...I can request £100 to withdraw everyday. So in 90 days time, everyday going foward I should be able to withdraw £100 if I want to, otherwise cancel it. Same process everyday. But obviously it will take 90 days to get it fully rolling Am I getting something wrong here? You cant have active withdrawal requests that total more than your invested funds. So if you had £1000 in the account and made 10 £100 withdrawal requests over 10 days, on the 11th there would be no funds showing as available for withdrawal.
The point of the rolling sytem is that it reduces the risk of all funds being trapped at short notice as there is always a percentage well placed in the queue to be withdrawn. It means that in the event of some sign that there is likely to be a problem you are already ahead of the herd in attempting to extract funds rather than having to react quickly to pull the whole lot. You cant eliminate the risk altogether.
Oh sure I know I get this. That is why I would prefer the rolling system, which will allow me to be able to withdraw funds for another purpose if required. Only problem it will take 90 days to set up. With regards to the 11th day example, to set up a withdrawal of another £100 I would add these funds. Maybe I wasn't very clear on my posts oops
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number5
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Post by number5 on Apr 25, 2019 6:18:16 GMT
What is the significance of the 22/23 days?It's a quarter of 90 days and is therefore the appropriate interval for requesting successive withdrawals of a quarter of your investment (which was the scenario in the example given by madmitch ) Ahh ok, I thought it was a setting requirement. I am working towards a daily withdrawal rolling system.
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Post by hammertime on Apr 25, 2019 8:51:27 GMT
Whats the point of putting cash into a investment if you keep taking it out???
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 25, 2019 9:10:42 GMT
Whats the point of putting cash into a investment if you keep taking it out??? True but then the whole point is not taking it out, just being in position to do so if required.
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Post by henders on Apr 25, 2019 10:15:56 GMT
If I understand this then what we are saying is if you, for example, have a lump in the 90 day and request a total withdrawal and then cancel that withdrawal on day 89 only then to re-request it, you are only at 90 days notice (approx) 4 times a year.
You are at 89, 88, 87....1 days notice similarly 4 times a year.
I'm trying to work out what benefit it gives me and it seems it gives me the same level of interest of a 90 dayer when for most of the time the notice is less than that (like it!).
Also it may (assumption) in the event of AC having a liquidity problem place me higher in the queue for my withdrawal (ie slightly less risky).
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number5
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Post by number5 on Apr 25, 2019 10:34:55 GMT
If I understand this then what we are saying is if you, for example, have a lump in the 90 day and request a total withdrawal and then cancel that withdrawal on day 89 only then to re-request it, you are only at 90 days notice (approx) 4 times a year. You are at 89, 88, 87....1 days notice similarly 4 times a year. I'm trying to work out what benefit it gives me and it seems it gives me the same level of interest of a 90 dayer when for most of the time the notice is less than that (like it!). Also it may (assumption) in the event of AC having a liquidity problem place me higher in the queue for my withdrawal (ie slightly less risky). I am aiming to having the option to withdraw my preferred amount on a daily basis. If I don't need it I will cancel the request the day before and request this again for 90 days later. However the next day if I require funds, these will be readily available from my request 90 days ago Effectively having a QAA but at a higher interest rate. If I understand it correct, it is achievable and is used by other forum mumbers on the 30 day account
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ceejay
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Post by ceejay on Apr 25, 2019 12:25:45 GMT
... Effectively having a QAA but at a higher interest rate. ... Apart from the fact that only 1/90 of your capital is readily available per day. Seems like a lot of hassle for a modest gain. Doing this with a third of your funds every month might make a bit more sense. But if you're really this worried about having quick access, wouldn't a proper cash account be more appropriate for at least some of these funds?
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number5
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Post by number5 on Apr 25, 2019 12:53:29 GMT
... Effectively having a QAA but at a higher interest rate. ... Apart from the fact that only 1/90 of your capital is readily available per day. Seems like a lot of hassle for a modest gain. Doing this with a third of your funds every month might make a bit more sense. But if you're really this worried about having quick access, wouldn't a proper cash account be more appropriate for at least some of these funds? I will be doing this with only a part of my funds...I am also in WLU and FS. Not so worried about the value of the quick access, just if required it won't take very long to access it. Only the inital set up will take long otherwise relatively easy to maintain. Cancel one request, put in a new one. Would take out only a minute of your day I will keep some in the QAA as well...which would be like an emergency fund. But currently I have cash drag in both WLU and FS, so looking for a new home for them
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sl75
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Post by sl75 on Apr 25, 2019 13:20:54 GMT
Only the inital set up will take long otherwise relatively easy to maintain. Cancel one request, put in a new one. Would take out only a minute of your day Committing to doing this every single day without fail seems overkill... I cannot imagine many situations where having an income stream divided into (say) weekly chunks would be a great inconvenience compared to getting 1/7 of the amount daily... especially when the daily stream requires 7 times the effort to maintain.
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number5
Member of DD Central
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Post by number5 on Apr 25, 2019 13:37:58 GMT
Only the inital set up will take long otherwise relatively easy to maintain. Cancel one request, put in a new one. Would take out only a minute of your day Committing to doing this every single day without fail seems overkill... I cannot imagine many situations where having an income stream divided into (say) weekly chunks would be a great inconvenience compared to getting 1/7 of the amount daily... especially when the daily stream requires 7 times the effort to maintain. I agree...but again I am not too fussed if I miss a day or two. If it withdraws...then my QAA will sweep it up until I get back online. If I miss a request date, the next one won't be too far behind. Ideal world daily would be good, but I know it's not practical always. So happy for it be as regular as possible. They are not all my funds, really with the low % rate it is more so to replace my cash drag earning 0% to earning 5.75% until better opportunties come up
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Post by df on Apr 25, 2019 14:28:16 GMT
If I understand this then what we are saying is if you, for example, have a lump in the 90 day and request a total withdrawal and then cancel that withdrawal on day 89 only then to re-request it, you are only at 90 days notice (approx) 4 times a year. You are at 89, 88, 87....1 days notice similarly 4 times a year. I'm trying to work out what benefit it gives me and it seems it gives me the same level of interest of a 90 dayer when for most of the time the notice is less than that (like it!). Also it may (assumption) in the event of AC having a liquidity problem place me higher in the queue for my withdrawal (ie slightly less risky). I am aiming to having the option to withdraw my preferred amount on a daily basis. If I don't need it I will cancel the request the day before and request this again for 90 days later. However the next day if I require funds, these will be readily available from my request 90 days ago Effectively having a QAA but at a higher interest rate. If I understand it correct, it is achievable and is used by other forum mumbers on the 30 day account Yes, I'm doing this with 30-day since it was launched. I have a small amount arriving to my cash account every morning, then I use it either to invest in new loans (MLA) or put it back into 30-day. Now I've started the same with 90-day.
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number5
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Post by number5 on Apr 25, 2019 14:35:09 GMT
I am aiming to having the option to withdraw my preferred amount on a daily basis. If I don't need it I will cancel the request the day before and request this again for 90 days later. However the next day if I require funds, these will be readily available from my request 90 days ago Effectively having a QAA but at a higher interest rate. If I understand it correct, it is achievable and is used by other forum mumbers on the 30 day account Yes, I'm doing this with 30-day since it was launched. I have a small amount arriving to my cash account every morning, then I use it either to invest in new loans (MLA) or put it back into 30-day. Now I've started the same with 90-day. I have just started investing on AC. Gone straight into the 90 day account. Once I have set this up, will try do something similar for 30 day (unless something better comes along!). Are you depositing cash every morning to your cash account? How do you select where to invest in MLA, I haven't ventured there as yet? Also, how often does capital & interest get paid on AC?
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Post by df on Apr 25, 2019 14:41:05 GMT
Only the inital set up will take long otherwise relatively easy to maintain. Cancel one request, put in a new one. Would take out only a minute of your day Committing to doing this every single day without fail seems overkill... I cannot imagine many situations where having an income stream divided into (say) weekly chunks would be a great inconvenience compared to getting 1/7 of the amount daily... especially when the daily stream requires 7 times the effort to maintain. Depends on personal circumstances. I find it very easy, takes less than 1 minute.
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