Pinyo at Moolanomy is giving away books to some lucky people who share their investing story. And since I think the book looks useful, I’ve decided to share mine. It’s slightly embarrassing for me, but I hope it’ll be amusing or educational for you!
I’ll begin the story by reminding reader that I am 22. Specifically 22 and 2.5 months.
Here’s the embarrassing part. If you’re a regular reader, you know that I don’t yet have enough saved for real investing. Or you probably know that. There’s some savings and my emergency fund, but not enough to invest with.
Anyway, I decided to put $1000 in an ING CD (this was before my plan to change jobs and we’d been steadily saving money each month). My goal was to put my savings for investing in CDs and/or money markets so that it could earn decent interest while I accumulated it. The end goal was $3000 which I could put into a Roth IRA at Vanguard and invest in their simplest index fund. Eventually, I’d buy a simple bond fund and then something international and perhaps something socially conscious. All the while adding savings to the various funds on the account.
So that’s my plan. That’s still my plan, but that was my plan.
Back to my story–I put $1000 in an ING account at a decent rate for 12 months. That was around September 10th.
And so I was just doing my thing, relaxing while my money did stuff, all that…
Then a week ago (or so) I got an e-mail from ING. Apparently, I didn’t respond to a letter I got from them so they returned the money to my linked account.
Whoops! *looks sheepish* I could have put it back in the account but decided to keep it because of my recent job change–just in case. I did get 2 months of interest and no fee for the return.
I didn’t feel like sharing this for a while because it’s kind of embarrassing. But it’s my investing story so far. Take it for what it is–a learning process. Oh, and pay attention to the mail your bank sends you. While I open mine, I sometimes have a hard time figuring out what’s relevant and what’s junk.
You still have a little time to enter the contest. So consider sharing your story before the 30th!