I ran some errands today and visited the credit union. I opened a Roth IRA and locked in 4.41% for a year. It was interesting that they offered a 18-month variable rate CD at 4.50%. I inquired about it and the branch says they update the rate weekly. Doesn't seem like a good idea in these declining days. Made another additional payment on the car note.
Now it is time to get ready for the Superbowl.
Roth IRA at CU
February 3rd, 2008 at 06:53 am
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February 4th, 2008 at 05:32 am 1202103176
A bank typically offers CDs for their IRA investments, and for most, it's way too conservative. In fact, right now, it's just good enough
Please remember that our inflation is pretty bad right now and the interest rates are pretty low.
One may also argue that the stock market is down, but really, they're already down. So, it translates into pretty good buying opportunities out there.
And with a long horizon before retirement, you should expect your overall returns to be at least double of what CDs are locking you into right now.
CDs are a double-edged sword. They can lock you in to protect your interest rate, but they can also lock you in to deny you of better returns elsewhere.
February 4th, 2008 at 06:50 am 1202107833
Sometimes I wish I can still file my tax returns on the EZ form, but am content with the 1040A, which I still do manually. Does anyone know if I started to invest in mutual funds with my cash holdings, I would need to start filing with the long 1040 form?
Maybe someday, but not at this time.
February 6th, 2008 at 03:30 am 1202268639