Today, after years of nagging by my father and a few of my more mature friends, I spent about 4 hours investigating my different IRA choices. I opted for the Roth IRA. I opened it through ING Direct, so it’s Savings/CD account. I don’t really like risk. Perhaps I will indulge in risk when I have more money. Even though it doesn’t have potential to earn 8% or whatever, it still makes sense even with the maintenance fees since I will no longer be paying tax on the interest earnings.
Now if I can just get the husband to open one. He doesn’t like to talk about saving for retirement for whatever reason.
I am the financial advisor for this household.
Categories: Finance · Marriage
So the Fed made another rate cut. I have not really felt the effects of this slowing economy yet, however, with this last cut, the interest rate on my savings account has dropped below the interest rate (which is fixed) on my deferred-until-graduation student loans.
To me, this says it’s time to pay off student loans…I am now losing money. This is the opposite of what the government wants me to do. They want me to go out and spend money to stimulate the economy, but instead I am going to start paying off my loans. I could have given the economy an enema of caffeine by buying a big American-made Coach bag, but instead I just paid $400 on my student loans.
Categories: Finance · Life
Tagged: economy, Finance, recession
