Picking up Nickels

Monday, August 13, 2007

August 2007 Financial Asset Roundup

Here are my current financial assets as of the market close on August 10th, 2007:

Asset July 2007 August 2007 Change
Checking 258 470 212
Money Market 40,071 52,545 12,474
Savings Bonds 4,558 4,575 17
Treasury Bills 0 9,000 9,000
CDs 58,361 58,600 239
Brokerage 105,880 105,222 -658
401k 105,365 100,019 -5,346
Roth IRA 34,315 33,063 -1,252
SEP IRA 175,906 172,515 -3,391
529 Savings 35,701 34,868 -833
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.

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