However, Columbia House and BMG Music Service were my first taste of dealing with debt/collection agencies along with publishers clearing house as they didn't do age checks and sent me stuff I requested from age 10-14, lol. And my made to collect coins, my pog chips, & my sport cards/trading cards that I misplaced years ago never panned-out. So..... my first sophisticated investment was a certificate of deposit!
Anyways, summer 2006 I put $5,000 in a 1 year CD during a time when rates were excellent...think the interest was about 5% on the CD. I had the vision of putting money to work way before I had an understanding of stocks. From reading my bank's website and some searches on Google I was able to understand a CD...and it seemed like an easy way to obtain return in order to buy something a year from that point with the interest money. Also, I had dreams of simply amassing $1,000,000 in a CD and being able to live off of $50,000 annually...way before I knew rates could take a dive at anytime and way before I had a feasible plan to stash a million in cash.
I'm human...just because I am into stocks doesn't mean I am oblivious to a guaranteed return as long as the United States is still standing. The rates of CDs going up is part of the reason stocks decline as guaranteed $$$ without principle depreciation and ease of research/rate comparison is an attractive option.
Get Money!!!!
