We guess there’s really no point at which you’re “comfortable” enough to not be tempted by a FREE iPOD! OMG! Reader Jonathan forwarded this email from TD Ameritrade in which they tried to entice him to deposit either $75,000 or $50,000 in order to get himself a free iPod Touch.
Jonathan says:
I think if I had this much to deposit, I could just buy my own Touch. Possible signs of trouble ahead?
Oh maybe. Nothing a few iPods can’t fix, apparently.
TD Ameritrade Website Crash, Servers Down [Stocks to Go]
Money fund cut may cost TD Ameritrade clients $100 million [MarketWatch]
I think if I had this much to deposit, I could just buy my own Touch. Possible signs of trouble ahead?
Yeah, but then you’d be out the cost of the iPod; deposit the money and you’re not. Why complain about something that’s FREE?
I don’t think I’d move that much money to get a free iPod, but if I were already planning to move my money (as it seems a lot of people are doing these days), I wouldn’t complain about getting a free iPod out of the deal.
It would have been better if they offered a free tank of gas. iPods are affordable. Gas….well that’s another story.
Sam Waterston endorses them. I mean, he was right about Old Glory robot insurance. Why would he lead you astray?
@blockbustarhymes: I trust John McCoy so much. I love when he gets indignant with a judge.
I guess it appeals to those lucky few who have accounts near $100K in WAMU, Lehman, Merrill, etc… Since you have to move your money anyway, a free Ipod ain’t that bad.
@ciscokidinsf: I think its more then a few people. Before I started my own business I had that much in an investment account, and a lot of my friends had more then that saved before they purchased their homes.
Would I move that much money because of an ipod touch? Heck no. Would it possibly make a difference if I was deciding between 2-3 places to move my money? If all else is equal, sure.
Funny indeed. TD has been giving away various ipods for account setup for quite a few years now. Bear in mind these are investment accounts, and figures like these are pretty typical for a small account in this industry.
@mariospants:
Yes, by all means in this market one ought to keep the “bear in mind” !!
Small investment accounts growing smaller, methinks.
Crap. I only have 49,970.00. But I want an ipod.
Guys, it comes with nice earbuds. It’s a great deal.
Which generation iTouch are they giving out? I believe $299 is the old retail price of the 8GB 1st Gen…which is now discounted to $199. Makes this deal a little less appealing…not that I have enough money to actually do it…
@Candace Parkers Secret Lover: You could if you did the app-o-rama.
Transferring an account FROM TD Ameritrade once you get tired of them will cost you $75, so factor that in somewhere.
@khiltd: Well the trick is to leave a buck inside that account and hold it indefinitely. They have no account maintenance fees. LOL.
this begs a much more interesting question: if not ipods, what else can you use to entice the rich to move their money around?
@rawsteak: Hookers and blow, baby.
In canada with TD you get a free iPod for opening a account, and or transfering your “main” bank account to them.
@mejimmy:
yeah… and they wouldn’t offer the same deal to people who’d been loyal for years.
@Eilonwynn: Up to each branch manager actually…came out of branch budget instead of corporate.
Two words: Retirement Account.
Anyone willing to throw $75,000 into a trading account just to get a free iPod has probably already bought one using their high interest rate credit card.
Anyone smart enough to invest their money wisely is already earning a higher interest rate than Ameritrade offers and has bought one with the extra interest.
Meg, you’re totally right how ludicrous it is… but it works. Rich people like free stuff just like everyone else. Ever see celebrities getting their swag at big parties? They go crazy for that stuff. And they’re loaded.
There was a great article in Worth magazine once how the writer offered $20 to people on airline flights to trade their first class seat for his coach seat.
He got many takers. Now these might have been people flying on someone else’s dime, but I think it proves the same point. People like free stuff.
@twophrasebark: I find that totally unbelievable. The premium for first class over coach is is easily 100%+ over the coast of flying coach, and on longer flights adds up to hundreds, if not thousands of dollars.
Even if I had read that article I wouldn’t believe it.
Hold still………..With Goldman becoming a “BANK” and Morgan Stanly doing the same, in a couple of weeks you can get a free lap dance, a free laptop, a Prius and a pony for that kind of deposit.
@jimmydeweasel:
Come on Jimmy, that’s not enough. $75,000 for an ipod? I’ll take it only if that ipod comes with a laptop, a Prius, 3 month vacations in the Bahamas every year, my own airplane with its pilot, a diner with Tony Blair (so I can smack him over the head), three body guards (that look like Denzel Washington, Sean Connery and Michael Chicklis) and the lap dance from Daniel Craig (the new Bond).
I think if I had $75,000, I’d have bought an iPod Touch a long time ago.
Remember, it also comes with the Bose earbuds too….
Why is it that its always the rich people who can afford to buy stuff that get it free. Like when an actor or football player go to eat and they are “cmped” just for benig who they are when there are 50 hungry families that cant afford it right around the corner
Some commenters seem to think this is some savings account thing. Ameritrade has brokerage accounts, retirement accounts, and several other types of accounts that are quite likely to hold lots of money. Even if I only put in the minimum, my 401k will have over 75K in it after working only 6 years at my job. If you all want any hope of retiring in your 60s, you better have at least 75K saved by the time you’re 35-40. (at a very bare minimum)
The TD Banknorth get a free iPod offer was enough to entice me and the hubby to sign up. I got mine this summer, 3G nano; I’m hoping he’ll get the 4G nano.
Craigslist FTW!
@Antediluvian: @mejimmy: I signed up for the Canadian TD bank account and had to pay $3.95 for 3 months (before switching to a no-fee account) and I got a 2GB 2nd Gen iPod Nano.
Think we could get something for making a deposit in say the $50.00 to $100.00 range? If I had 75 grand to play with an ipod would be the least of my wants.
I don’t know… an iPod Touch with Bose earbuds? I already have the Touch.
Maybe if they offer a 2 liter of Coke.
I worked for Ameritrade’s IT Operations prior to the TD merger as an intern. After a good quarter with an amazing technology delivery everyone in IT (ThinkTech is what they called it) was given a 2gb iPod Nano. To give an idea of the time frame, this was within a month of the first Nanos hitting stores – retailing at $200 for the 2gb model.
I can’t hop on the bandwagon against them because I think they’re a great company that treats their employees well. As a bonus their call center is in the same city as a lot of their IT/Operations (Omaha), not outsourced!
Cool, hey, it’s better than nothing.
A <$200 device for $50,000 deposit… that’s less than half a percent if you were to convert it to interest. What a joke.
They ran this same deal a few years ago – $50,000 got you a palm pilot. I had a friend who actually did it, taking all of his stock out of Apple in the process – right before it’s biggest surge. He lost about $10,000 to get that Palm.