The Retirement Rise 2.6.2023
On endowing, higher yielding cash, and cultivating money gratitude
This Week’s Good Financial News
What’s the ‘E’ in the R.I.S.E. framework?
Endow Graciously.
The flip side of ‘Receiving with gratitude’ (the ‘R’ in R.I.S.E.) is learning to give with gratitude. There is an energy to money as it flows through our lives. The point isn’t to receive and ‘hoard.’ The money then becomes stagnant, like a pond, when it is meant to flow, like a river. Rather, we allow it to flow toward productive and positive causes - we ‘Invest for a Better Future’ (the ‘I’), we ‘Spend Thoughtfully’ (the ‘S’), and we ‘Endow Graciously.’
Keith Lee is a Tick Tok food reviewer with a large following. Recently, he stumbled onto a struggling food truck and helped turn everything around for the owner.
You can read the full story here.
After generously paying $450 for a burger and fries (from a seafood truck, no less!), Mr. Lee reviewed the burger live on social media. His followers then sent over $30,000 to the food truck owner to help him stay open until business picked up.
This is giving with a sense of abundance.
An Investment Note for Retirees
Are you still receiving 0% interest on your cash at the bank?
There are other options available. First, many banks' savings accounts, especially online options like Ally, Capital One, or Amex Savings, offer 3% -4% interest. You can search for competitive rates at sites like Nerdwallet.
Second, short-term U.S. Treasury Bonds are offering one of the best deals on the market due to the Fed’s rate hikes. For example, you can buy a short-term treasury ETF or mutual fund in your brokerage account or IRA. The iShares 0-3 Month Treasury Bond ETF (Ticker: SGOV) is yielding over 4%, and other options are also available.
And though funds like this can fluctuate in value as interest rates rise or fall, the short maturity horizon tempers much of that. check with your broker or financial advisor to see if you have unyielding cash you can put to work in this manner.
I Bonds are another option and still offer 6.89% on bonds purchased before April 30th, 2023. Ensure you understand all the unique ‘I' Bond rules before purchasing.
All to say, there’s no reason to earn just 0%!
A Thought on Retire on Purpose
How to cultivate money gratitude in your life:
Keep a gratitude journal, and write down a list of things (events, loved ones, material things, the sheer blessing and joy of being alive) you are grateful for every morning. Make a point to add a couple money-related “gratitudes” every day.
“I’m grateful for my paycheck that allows me to afford a safe and healthy space for my family.”
“I’m grateful I’ve been diligent about contributing to my retirement accounts this past year because it makes me feel more financially secure.”