2023 hasn’t been the greatest due to inflation and job layoffs. I was one of the people who got laid off. However, due to high interest and the increasing stock market, I somehow managed to receive lots of interest, here is in detail.
Interests: $3,615.00
I signed up for a high-yield online savings account.
Dividends: $7175.00
- Personal Investment Account: $5,322.42
- 401k/Rollover IRA: $1,223.84
- HSA: $23.95
- Roth IRA: $606.59
Bank Bonus for opening a new account:
- Bank 1: $200
- Bank 2: $200
- Bank 3: $500
- Bank 4: $300
- Total: $1200
Total: $11,990
I had some free time, so I opened a new account and got a bonus. Spent about 2 hours sorting things out – opening the account, calling customer service, moving money. While it’s cool, I won’t do it often. Interest and bank bonuses aren’t tax-efficient. Particularly for bank bonuses, it’s a bit too much hassle for what you get.
Vi, a software engineer with a keen interest in personal finance, had planned to retire once she reached her lean FI/RE (Financial Independence/Retire Early) goal. However, after achieving the goal, she took few months of a mini-retirement filled with travel and adventure and decided to continue her career.
For the past five years, Vi has been using Personal Capital (Empower), a free financial tool. Her favorite features include the dashboard for net worth, allocation, and planning, which help track her FI/RE goal and keep those investment fees in check.