Getting Gamed by NC State Employee’s Bridge Account

Many of you will recall my excitement in early April when I moved my cash over to my bridge account which generates interest based on the returns of the S&P 500. June has proved what an absolutely brilliant move that was (note sarcasm). Wow, what an awful month. I was really doing great until about mid-May. Prior to the point of yesterday’s sell-off it was pretty much at break-even. Then it dropped another 3%. Yuck. Not a big loss really, just the 3.2% APY I would have gotten on $3k (so about $24). Oh well, I’ll let it ride through next quarter and we’ll see how it goes.

Read the 2010 UPDATE

Posted in Hustler, Investing, Savings Tagged with: ,
  • Jesse

    I am trying to do the same thing! I’ve had my money out of the bridge account for a few months, from April ’08 until early August. So far, it’s up a percentage point or two in the last month. Not bad.

  • Slug

    I’m back in for Q1 2009 but only at $1000. I don’t have a whole lot of confidence, but as the SECU interest rates fall I have more incentive to take on the risk.