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Who Needs TV When You Have the Mr.&Mrs. scfr Show?

January 9th, 2014 at 02:33 pm

A CD we owned matured in December. (Farewell 5% APY ... you will be missed, sniffle sniffle.) One of my start-of-the-new-year-financial-to-do's was to decide what to do with those funds. The decision has been made, but there were some pretty comedic moments along the way.

In the scfr household, decisions are joint. DH used to be more of a follower since I was the one who took the lead on getting our financial house in order many many years ago, but over the years he has become more informed and involved and opinionated (at my urging I might add ... I used to worry what would happen if I were to die suddenly).

I can't remember the last time we fought. I can remember quite a few fights our first year of marriage while we were getting used to sharing a house and a life, but that was 20 years ago. But just because we don't fight doesn't mean that we don't have differences of opinion and sometimes rather spirited discussions. The difference between now & then, I think, is that we've figured out how to hear the other out and inject some humor in to our discussions so that they never turn ugly.

The most recent "spirited discussion" was over whether or not to put some of the CD proceeds in to Series EE Savings Bonds. I wanted to; DH did not. The thing is that it doesn't make much sense to get Series EE Savings Bonds unless you think you may hold them for 20 years (because the interest rates are pathetic but they are guaranteed to double in value in 20 years). DH thinks it's folly to put money away for so long when you don't even know if you'll be alive then ... for some irrational reason, he thinks he won't. We had a similar discussion last year, and I ended up presenting WHO life expectancy tables and convinced him. This year, apparently because he is older, he dug in his heels. He made some comment along the lines that "those will be for YOU since I won't even be here" at which point I rolled my eyes and threw one hand up in the air and said in a mock-dramatic voice "You act as if I'm wanting to buy a Rolls Royce. I want to buy SAVINGS BONDS for crying out loud!" That stopped him cold and then we both started giggling. Castle & Beckett have nothing on us when it comes to verbal sparring, let me tell you. OK, we may not make for very interesting viewing, but we still have our sense of humor & marriage intact.

The end result of our discussions? HALF of what I wanted to put in to Series EE Bonds is going there ("my" share ... haha)! Much is going to a PenFed 5-yr CD at 3.04%, and some will be held in our savings account in the hopes that interest rates will go up. Funds transfers have been ordered; EE Bonds have been ordered; PenFed membership has been opened; and PenFed CD will be opened as soon as transfers are completed.



6 Responses to “Who Needs TV When You Have the Mr.&Mrs. scfr Show?”

  1. beawealthywarrior Says:

    I'm contemplating whether to do the PenFed deal as well. Not sure if I want funds locked down for 5 years.

  2. scfr Says:

    I understand beawealthywarrior ... I was actually feeling a certain degree of exhaustion by the time we had made our decision. Lots of thought went in to it. DH said to me - "We feel tired because there are no options that we like." I must not dwell on the 5% rate that we have lost and focus on doing the best we can right now with what is available ...

  3. creditcardfree Says:

    I was also looking into PenFed. The have one year penalty of interest on the five year. So I'd want the money to stay there for at least two years, in order to get 3% for one of those years.

    My husband and I often have spirited discussions...they are usually political in nature. His favorite topic. Money is my topic, but it can get spirited, too. Just not as much.

  4. scfr Says:

    Oh, yes, ccf - you bring up a good point. In fact my plan is to split the PenFed money in to 2 CDs just in case we need to cash one in early. In my decades of saving in CDs I've yet to cash out a CD early but you never know.

    I think that the spirited discussions DH & I have often result in better decisions than either one of us would make separately. Not at all surprised to hear you have spirited discussions with your husband too. Sometimes I read comments over on the forums where one of the males says something like "my wife isn't very interested in financial matters and leaves those decisions to me" and it always makes me a little bit sad.

  5. beawealthywarrior Says:

    @scfr, now I like the idea of splitting the CDs..it makes prefect sense. I guess I'm always thinking in lump sum amounts and I never have cashed one in early either.

  6. snafu Says:

    I wish the men who say 'wife not interested' would seek a way of getting their wives engaged and on board with financial decisions particularly if wife is doing the majority of the shopping and spending.

    Realizing this is the 'Income' portion of your portfolio...When discussing the next investment for a matured CD, what instruments do you compare against? For example, how does your chosen CD compare with Short Term Bond ETFs or an Income Advantaged ETF? What role does the economy play in your decision making process? Where do you imagine interest rates will be by 2019? Where do you see inflation going over the next 3-5 years? Have you seen an increase in basic costs in your particular region over the past 3 years?

    I know your decision has been actioned but others who enjy your blogs as much as I may have CDs about to mature and just repeat the process from habit.

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