My Investment Dollars
Right now we have very little money in our savings/retirement/investment accounts. Currently there is about $14,000 in our combined investment accounts. A very small amount, but as we reduce our debt, we will max our our contributions and look for other ways to save for the long-term. As I mentioned in a previous post we are contributing to my wife's 403-B (education) through Fidelity Investments. We contribute 5% of her pre-tax salary and her employer contributes and additional 6%. We are heavily invested in growth funds.
I do have around $850 in funny money that I rolled over into a Fidelity IRA from a previous 401K. Just to show what a knucklehead I've been financially, I immediately bought stock in Apple Computers and Sirius Radio. I have a soft spot for Apple and they were heading into a stock split, and I played a 'hunch' on Sirius. Is that the way the average investor picks stock? What a bonehead I am. Apple is not such a bad stock, but Sirius was overvalued, I guess, because it lost about 40% of its value. When you add the commission fees...shoot, I should've just left it in a cash fund.
Well, I'm learning things the hard way and look forward to turning the ship around through education and debt reduction.
• VirtualBank gives you up to 5.13% APY for your savings!
• Blue Cash from American Express: 5% Back on Gas, Up to 5% cash back on eligible purchases, No Annual Fee, 0% Introductory APR for 6 months, Pay over time
• Try Starwood Preferred Guest Credit Card from American Express. Great rewards and first year fee free!
• Bad Credit Home Loans
• Life Insurance in 10 minutes if qualified. No medical exam.
I just got a 60 second retirement challenge quiz in the mail from Fidelity Investments. I was blown away that I could save $83,000 over the course of my life by 'brown-bagging' verses eating out once a month. Of course this uses a tax-defered account ... Read
