I'm 23 and I need some financial advice.* To be frank, I have accumulated:
+$3500 sitting in Fidelity ROTH IRA Account (but I don't know how to invest)
+$3500 sitting in Ally Savings Account
+$600 in Bank of America Checking Account
+$200 in Bank of America Savings Account
+$100 in cash, in my wallet
And that's all the money to my name. I'm thinking of clearing out the money in Ally Savings Account and putting it somewhere better...
How do I choose a good savings account? What kind of things should I look out for?
Should I purchase some CDs? How, and where? Mint.com reports that SallieMae has high interest rates (Savings Account at 1.40% APY and 60-month CDs at 3.00% APY), but it seems that most of you think SallieMae is the devil.
Should I get rid of my Bank of America accounts altogether, in exchange for a better bank? I just think it's easy to find their ATMs, and convenient when I want to talk to a representative in person, wherever I happen to be in the country.
-S.
*I'm still a newbie when it comes to financial matters, haven't read any good books besides "Automatic Millionaire." Got any suggestions? Thanks so much!
** ALSO: Should I buy property? Gold? What is up with the economy, stock market? Or the year 2012? I'm nervous!


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