Well, not to gloat....
I'm fiscally conservative. The Husband, even more so. Therefore, when we started making annual contributions to my IRA, we choose to do so in the form of a CD.
The interest rates are nothing to write home about and certainly far less than the IRA gains some people were bragging about a year ago. But the upside is that my IRA is still steadily growing and unlike alot of IRAs hasn't, at least in absolute dollars, lost any value.
My quarterly statement arrived in the mail today so I thought I'd share the details:
- CD #1 -- matures 04/06/09; current rate 4.50% -- account balance $ 3,430.71
- CD #2 -- matures 04/06/09; current rate 2.96% -- account balance $16,307.24
That gives me a combined IRA value of $19,737.95. Not at all the ideal IRA value for a 44-year-old but as The Husband likes to say, it's $20,000 more than a lot of people have. And I don't have any credit card debt.
We're on track (both in our budget and in our cash situation) to make another $5,000 contribution next April -- though The Husband and I did discuss keeping our eyes open for good rates and being open to making my contribution earlier than our usual early April deposit.
So, what, you might ask, about The Husband? Doesn't he have an IRA? No, he doesn't.
So why not? Well, because he's too old. At 73, he's no longer allowed to contribute to an IRA. In fact, the date in which he had to start withdrawing from his IRA coincided quite nicely with our decision to finally buy a house. Handy, that. 
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Good News — Update on my IRA
Well, not to gloat....
I'm fiscally conservative. The Husband, even more so. Therefore, when we started making annual contributions to my IRA, we choose to do so in the form of a CD.
The interest rates are nothing to write home about and certainly far less than the IRA gains some people were bragging about a year ago. But the upside is that my IRA is still steadily growing and unlike alot of IRAs hasn't, at least in absolute dollars, lost any value.
My quarterly statement arrived in the mail today so I thought I'd share the details:
That gives me a combined IRA value of $19,737.95. Not at all the ideal IRA value for a 44-year-old but as The Husband likes to say, it's $20,000 more than a lot of people have. And I don't have any credit card debt.
We're on track (both in our budget and in our cash situation) to make another $5,000 contribution next April -- though The Husband and I did discuss keeping our eyes open for good rates and being open to making my contribution earlier than our usual early April deposit.
So, what, you might ask, about The Husband? Doesn't he have an IRA? No, he doesn't.
So why not? Well, because he's too old. At 73, he's no longer allowed to contribute to an IRA. In fact, the date in which he had to start withdrawing from his IRA coincided quite nicely with our decision to finally buy a house. Handy, that.
Related posts: