Aug
06
2008

  Going to the Bank!

Yeah, baby! The monster refund I've been expecting since I amended my 2006 tax return arrived today! The IRS even paid interest on the balance at an average of 4.3% APY, so that amounted to a nice chunk of change itself. Fortunately, my bank takes deposits until 6pm so even though I'm too lazy to leave the house mid-afternoon, it'll still get posted today. Tonight I'll figure out where I'll move it and start setting that up tomorrow, since Bank of America's interest rates are terrible. Most rates are pretty bad, so I've been opening up bank accounts all over the country chasing yield. If you don't put your deposits in one of the very highest yield accounts, you can't even keep up with inflation these days. Still, it's better than having it invested and being down 12% (and that 12% is unadjusted for inflation) over the past year.