Today I cancelled a $5,000 CD account I started over a year ago. To date, I earned only $39 from interest. The interest varied every month between .5% and .75% annual interest. With rates that low, I feel some of the money would be better off in a different investment vehicle.
For the time being, I put the money in my permanent savings. I will leave half of it there, and start my 2nd brokerage account with the other half. My 2nd brokerage account will be my longterm account. The stocks or funds I buy for this account will be held for 2+ years at least, if not 30+ years.
Current Asset Structure:
General Account – $ 1,259
Business Balance – $ 1,683
Spending Account – $ 243
Investment Account – $ 873
Permanent Savings – $ 8,080
Stock Portfolio Value – $ 5,100
Credit Card Balance – $ 0