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| Monday, June 05, 2006 |
| Net Worth June 2006 |
This was not a banner month - that is for sure. The market was down and I had some big expenses hit this month. That one-two punch has my Net Worth climbing by a weak $500 or so. On the expenses side I paid a large credit card bill for some needed car repairs and wrote a large check to the City of Boston for my investment condo taxes. On the investment side my various retirement accounts are down which reflects the general downturn in the market. Most of my gains for this month can be attributed to equity gained by paying my monthly mortgages. Nice to see that even when growth is stagnant or negative, just paying my monthly bills keeps my Net Worth progress trending positive!
 [Click on image to see larger]
The other good news for the month is my continued success with the ING Direct referral link experiment. I still have some links left if you are interested! |
| posted by Boston Gal @ 11:53 AM *
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| 4 Comments: |
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Why do you have 6k sitting in a .21% savings account?
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Hi Anonymous,
My .21% saving account is located at my local bank branch. Generally I try to keep the account to about $5,000. I have a bit more in there now which needs to be migrated over to one of my high yield online savings accounts (HSBC Direct or ING Direct). I keep money locally at the lower interest rate for a couple of reasons. Most importantly I like the feeling of being able to walk to my local bank branch and access the cash immediately if needed. Also, I deposit rent checks at my local bank and since those checks take time to clear it is nice to know I have a cushion in case of bounces. While my $5,000 earns about $10.50 a year, in an online account I could get about $232.50 - so I am giving up money - but the lost interest is worth the peace of mind.
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You had a lot better month than we did. We lost 8.4%. That's because we have 70% stock and only 30% cash. And the stock allocation has an emerging market component that got slaughtered in May. It's hard to stick to an asset allocation model when you see this stuff happening. My gut tells me to put everything in cash, but then I know I'd be a mess when I saw the market have a big gain. Oh well. I must be strong.
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Boston Gal,
With the misery the last month was at (and this month), I think you're fortunate to see your net worth go up at all.
Good job on keeping it moving!
regards,
makingourway
www.makingourwayblog.com
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Why do you have 6k sitting in a .21% savings account?