Friday, November 20, 2009

Extra Money I'm not sending to the Creditors

I can't remember exactly when my father started sharing his AT&T dividends with me. I know it was before the Ma Bell divestiture in 1984. And I'm thankful that I did inherit at least of a bit of his 'savings' gene. I have never spent any of the money he sends to me quarterly. It has always gone to savings. In the early years, I put it in a regular savings account. I've also bought U.S. EE Savings Bonds, a Tennessee zero coupon bond, shares of SBC Communications (now AT&T)...all which I still own today. I even used some of that money to buy shares of Qwest Communications and Washington Mutual which turned out to be not such wise decisions, but I was investing it and NOT SPENDING!

When I received my check from Dad earlier this month, I checked the current rate on I-Bonds. For the six months ending April 30, 2010 they are paying 3.36%. Getting a Treasury Direct account set up takes a little time for them to mail you a verification card in the mail. But once the account is set up, it's so easy to buy Savings Bonds! And I choose to let them hold my bonds electronically. No more worries about keeping up with those little paper bonds! I just placed my order tonight for a $100 I-bond. I know I won't get rich off 3.36%, but I love adding to that little nest egg that I know I've received from my father.

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