August 2007 Financial Asset Roundup
|Asset||July 2007||August 2007||Change|
|Credit Card 0% Balance Transfers||0||-19,075||-19,075|
|Total Assets||$560,415||$551,802||-$8,613 (1.5%)|
Thanks to the mortgage meltdown, the S&P 500 index has continued its downward trend to the tune of about 4% since my July 2007 update. My bottom line took a considerable hit, although that number was softened a bit by an additional 2007 SEP IRA contribution:
(chart courtesy of msn.com)
I did make a couple of moves over the past month though. First, I took advantage of a 0% balance transfer offer on my spare Bank of America WorldPoints Mastercard. I will be borrowing $19,000 at 0% until February 2008, and will have that cash sitting in a high yield money market account until then (while making minimum payments). I also put $9,000 into a 28 day T-Bill earning a 5.5% tax-equivalent yield. However, if the rumors of a FOMC emergency rate cut come true, then 5% yields on cash may soon disappear.