A glimmer of hope…
Saturday, August 2nd, 2008Today I noticed that the Emigrant Direct online savings rate is now an even 3%. So it appears that rates may be on the rebound for those of us who are stashing cash away for a rainy day.
Bought RYPQX
Tuesday, June 10th, 2008Last week I started increasing my position in the Reserve Yield Plus Fund (RYPQX: web, prospectus, fact sheet, Y!). Two weeks ago I finally started buying in to the fund, which is a no-load fund and does not impose the typical $9.99 transaction fee from Ameritrade. At the beginning of this month, I received the distribution for those shares, pro-rated for the previous month.
The distribution totaled $0.09 for 250 shares held over 3 trading days in the month of May. Doing the math, this translates into about a 4.4% return on my money annually.
Emigrant Direct lowers rate to 4.30%
Monday, January 28th, 2008As expected, Emigrant Direct has followed suit on lowering interest rates for its online American Dream Savings Account to 4.30%. I can’t say that I didn’t see this coming, but the dropping rates are driving me to start maneuvering money back into the stock market.
I’m starting to rethink my goal of having $50,000 in the account to generate some secure passive income. While it’s still a good goal to have, the money I have allocated for that account may work harder elsewhere, like in high yield ETF’s.
I’ve already got the mandatory 6 months worth of expenses stored up in savings, and am now strategizing on how to put my money …
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