Certificate of Deposit
Bobbi’s husband is being relocated to europe. I know boo-hoo, Bobbi has to visit Europe regularly at the company’s expense.
But it’s going to be sad for these inseparable newlyweds to be separated for weeks at a time.
I tried to cheer her up with a new investment vehicle I recently learned about.
(click on the bold-faced vocab words:))
The withdrawal penalties, if she gets too tempted to use the $$, will keep Bobbi in check. Plus, if she buys it at a FDIC-insured bank, the CD itself is insured.
My unconventional cheering up worked! They are already planning their second honeymoon for when his year in Europe is over, fully-funded by their CD.
See, separation can be a good thing! It grows $$. And makes the heart grow fonder.
(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)