A few days ago I received a surprise cheque in the mail (we like those!). Sadly, it wasn’t some rich benefactor wanting to support me in my creative endeavors (please support my Patreon - just kidding); rather it was from TIAA bank. My first ever CD account - a 5-year CD - has come due, and the final cheque signifies the account closing. Five years have indeed gone by already.
And what a difference five years make: my expired CD carried an interest rate of 1.90%, which was the absolute best one can do in risk-free account, at a time when savings accounts were only giving out 0.70%. Fast forward to today, I’m comfortably getting 2.2% from Ally, and long-term CDs are into the 3s. Shout-out to the Federal Reserve for finally raising the base borrowing rate these past few years.
You’d half expect me to go on some cliché tangent about how five years have gone by in a blink of an eye, and that it seems like only yesterday that I’ve just opened the CD account, but that is the completely opposite of what I’m feeling right now. What an absolute slog the five years have been; I went through an intense period of transformation, from my mid-twenties of still finding my place in this world, to now in my thirties, wiser yet still massively unlearned, and seeking to improve every single day. When you start to look at every single day as its own challenge and reward, your reference of time slows down significantly.
I think time goes by quickly when you’re directionless and bored. It contradicts somewhat the popular saying of “time flies when you’re having fun”, but I can only speak from my experience. When days are filled with salient tasks and good habits, the time well spent acts as a defense against pangs of emptiness and waste. You think time have gone by fast precisely because you regret not having done more during that particular timeframe. I actively fight against that.
Anyways, with interest rates at somewhat healthy levels, I’ve no plans to roll the money from the closed CD to another 5-year term. I prefer as much liquidity as possible (outside of retirement accounts), and not having to chase better rates frees up extra money to be funneled into my other investment vehicles.
Cheers to the next five years. May that end date also creep up on me unsuspectingly, but in the best possible way.