Money Matters
Jan. 12th, 2005 01:57 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
omlyI feel like Roger and I are an old married couples at times. I have been a little unhappy since Roger has had his IRA-Roth account open for almost a year now. So I opened my own today. An IRA-Roth is really all that makes sense for me right now as the cap amount that you can put in per year is really stretching how much I can put aside anyways. And I am young enough that it can really do very well by the time I want to take it out though. I think the reason I am so paranoid about retirement is that my parents really didn't put that much away and may never be able to really retire.
Further more, Roger and I have been thinking about putting aside money to use as a down payment when we buy a house a while down the road. A money market account through Sovereign has a minimum balance of $2000 and an interest rate of 0.3%! This is insane when you consider that I can get 0.35% just in a savings account at the moment with a minimum balance of just $400. A few weeks ago interest rates went up, so the rates for the money market account should be going up a little bit but nothing to be seen yet.
So now I am looking into alternatives. Bonds don't thrill me and with interest rates rising now they are actually not a great idea. Right now we are looking at about year and a half minimum length of time. This is short enough that I want something quite conservative, but Roger would like some of it to be a little higher risk. Thinking about this really has us tightening our theoretical belts a little bit more. Neither of us makes huge money, but enough that we can afford to be putting a little bit away.
Further more, Roger and I have been thinking about putting aside money to use as a down payment when we buy a house a while down the road. A money market account through Sovereign has a minimum balance of $2000 and an interest rate of 0.3%! This is insane when you consider that I can get 0.35% just in a savings account at the moment with a minimum balance of just $400. A few weeks ago interest rates went up, so the rates for the money market account should be going up a little bit but nothing to be seen yet.
So now I am looking into alternatives. Bonds don't thrill me and with interest rates rising now they are actually not a great idea. Right now we are looking at about year and a half minimum length of time. This is short enough that I want something quite conservative, but Roger would like some of it to be a little higher risk. Thinking about this really has us tightening our theoretical belts a little bit more. Neither of us makes huge money, but enough that we can afford to be putting a little bit away.
