I was at the bank today trying to figure out what to do with the money from the sale of my father's house. The bank was paying interest of something like 0.15% which I thought sucked. 90 day CDs weren't any better. And even 6 month CDs were only somewhat higher: 1/2%. They did tell me that I could do better by talking to one of their investment managers, so I headed to another town with a bigger branch of the bank.
The end result was that I put the money today into a two-year CD paying 2.8%. Rates were increased by a quarter percent just last week, so my timing is fortunate. I was told that predictions are for 2 more interest rate increases this year. I'm not willing to wait for them however. After all, predictions have been known to be wrong.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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