There are probably better rates out there, but I’ve decided to put $1,000 into Emigrant Direct’s “My Way” CD. For a minimum deposit of $1,000 and a maturity of at least 6 months, you will earn 5.20%. ING Direct has lowered their 1-year CD rate to 5.10%, so I figured this might be a good time to lock in some rates.
Speaking of money, I am thinking to just say fudge it! and take my bonus on a trip to Europe. I won’t have any time to travel in the next two years, so shouldn’t I go while I have the chance?
But… that money’s probably better served in a 529 plan (which I will do a post on once I’ve researched it some more). Damn you, rational mind!
No related posts.
Hail the rational mind the saviour!
Btw, I don’t want to confuse you over your decision to stick with Emigrant, but I if you are looking to lock a large amount, I would suggest you look at E-loan CD offering 5.75% ( http://www.eloan.com/savings )
Hey golbguru,
thanks for the tip. Unfortunately, I have no where NEAR $10,000 in cash, much less that amount to be locked up in a CD. I can wish though…
go Go GO! Go to Europe now before you are too good for backpacking, hostels, and budget hotels! I wish wish wish I’d done that right out of college. I didn’t have the money or the means, but if you do, I’ve never heard anyone say that they regret their college Europe trip.
Esp. if you have people you’d like to go to Europe with, go before you all are too darn busy with work/life to do stuff like this.
There will only be MORE ‘rational’ excuses not to go later in life. Trust me.
Oooh yes, 5 years later and I still haven’t done an all-Europe trip. I DID get my butt over to Italy for a glorious ten days, years ago, and I definitely did not regret that one bit. Great new look, by the by!
Another interesting play on chasing rates is to look at some of the person to person lending sites. You can pick and chose loans to fund based on rate, credit rating and a host of other factors. You can invest a very small amount in a number of loans offering high rates. If nothing else, it is fun to look at.
https://www.prosper.com/groups/group_home.aspx?group_short_name=AddventureCapital
I just put 25,000 into a stepping stone GIC. It is the best rate going right now. Other than that I don't think anything is paying much.