4 Ways to Get Quick Liquidity
Scrape together what you need for free
The worst possible way to finance personal expenditures is via high interest credit card debt. If you have any, then switch it out for a personal loan (this one offers a $300 sign up bonus for new borrowers). That is slightly better. Want even better? Here are four ways to get quick free liquidity.
First, tap your IRA. The IRS newly lets you withdraw $1k from your IRA for self-described emergencies without penalty. In addition to medical or auto expenses, the reason can include “any other necessary emergency personal expenses” which covers nearly anything.
Secondly, get a credit card with 0% APR for 12 months such as AmEx’s (AXP) Blue Cash Preferred or 15 months such as their Blue Cash Everyday Card. When I was a kid in search of a bankroll, I aggressively signed up for such cards and used them to buy treasury bonds.
Thirdly, free up capital by putting risk capital in securities with leverage at the security level instead of your portfolio level (where you pay, often exorbitantly, for margin interest). For a recent example, over the past year one could own Core Scientific’s CORZZ warrants instead of CORZ equity. This tied up far less capital but will ultimately get you the same exposure.
Fourth and finally, you can temporarily get $2k then subsequently get $1k of free margin with my favorite brokerage app. Sign up here, upgrade to Gold and join the waiting list for their best of breed card.
