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Investing/Strategies / Retirement Investing
|Subject: Re: Indexed CDs||Date: 12/23/2011 3:27 AM|
|Author: DorothyM||Number: 69909 of 74001|
I went into one of these in the mid90s -- Saw it first in a Republic National Bank (NYC) - Looked pretty good. $10,000. I was 20 years younger and welcomed a wee bit of risk. One of Rep. Nat'l's ads was fond to be misleading and so we would get an extra few percent.
The CD was tied to S&P and earnings on CD would mirror CD. In case of loss the minimum earning on CD was 1%.
Shortly after I put my 10K at Rep., Citi put out a similar ad. I wish I'd taken Citi up on another CD, perhaps 20K.
So in a little less than 5 years I had a check for almost 23K. It felt a little like Alice Down the Rabbit Hole but wonderful.
Those were the days my friend. We thought they'd never end.
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