March 2009 Financial Asset Roundup
|Asset||Feb 2009||Mar 2009||Change|
Investors continue to suffer as the S&P 500 index has dropped 13.00% since the last update:
(chart courtesy of msn.com)
Unemployment continues to rise and is now up to 8.1%. The stock market did rally a bit yesterday though as a internal memo from Citibank gave some hope that banking sector may be showing some signs of recovery. I sure hope so...
Moneywise, I rolled my maturing 7 month Bank of America CD @ 4.11% APY into a 9 month Bank of America Risk Free CD @ 2.50% APY as rates on many online savings accounts have plummeted below 2%. I'm also considering putting a few bucks into I Bonds next month, which would have roughly a 3% tax equivalent return over the next year (a 5.64% rate for the first six months and likely 0% over the next 6 months with a negative inflation component).
Business-wise, I have fully funded my 2008 SEP IRA contributions and have finished up with my 2008 tax returns for my S Corp. I'm also working on a contract extension with my largest client, so I'll hopefully continue to bring in consulting revenue throughout 2009 and not have to tap into my cash reserves.