I recently came across
this July Kiplinger article on the personal finances of Obama and Biden. This was based on their May financial disclosures, and the article was focused on personal finance lessons that could be learned.
I found Vice-President Biden's portfolio most interesting. He and his wife have 9 checking and savings accounts and 2 CDs. I wonder if these include reward checking or internet savings accounts? Perhaps they had been rate chasers? When those CDs mature and they look into renewing them, I hope they take note of the very low interest rates. Excerpts from the article:
The couple have nine checking and savings accounts at no less than six financial institutions. The bulk of the accounts have between $1,000 and $15,000 on deposit, and each earns less than $200 in annual interest, says Wilson. In addition, the couple own two certificates of deposit, worth between $100,000 and $200,000, on which they're earning between 2% and 5%, according to the disclosure statements.
