From: Damien Sullivan (phoenix@ugcs.caltech.edu)
Date: Sat Apr 12 2003 - 14:08:04 MDT
Extending the "basic self-improvements" thread, I figured I cast around for a
bit of financial advice. This is something I've read a lot about before, so I
don't need stuff about the basics. But all my money is in savings accounts,
and I thought I should think about more.
Item 1: I only have a few grand, and suspect whatever I could safely do with
it in the next few years would be dwarfed by one year of real income.
Item 1a: "real income" as in computer jobs like the one I used to have. Now
I'm a grad student. One next stage in my lifestyle is postdoc... don't know
how much they actually make.
Item 2: I've got a credit union with 2.15% savings. They're usually good, so
this shocked me, until I checked what current CD rates were at normal banks
and unions. About the same. Go my union!
Item 3: Another union had 60-month IRA certificates at 3.66%. That looks
decent for the times. And if I could open an IRA Monday I could maybe save a
hundred bucks in taxes.
Item 4: But US I savings bonds (inflation adjusted bonds) are 4.08%. Which
reminds me that the current inflation rate seems above even the good savings
rates, which kind of sucks...
So, IRA, I bonds, other? I know the Treasury also sells 'TIPS', I think
another form of inflation adjusted bonds. I fear stocks when I have so little
wealth.
-xx- Damien X-)
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