Picking up Nickels

Monday, September 15, 2008

September 2008 Financial Asset Roundup

Here are my current financial assets as of the market close on September 12th, 2008:

Asset August 2008 September 2008 Change
Checking 230 295 65
Money Market 21,463 21,306 -157
Savings Bonds 14,802 14,851 49
Treasury Bills 0 0 0
CDs 104,724 105,183 459
Brokerage 113,924 106,937 -6,987
401k 93,654 87,639 -6,015
Roth IRA 30,588 28,964 -1,624
SEP IRA 179,530 172,301 -7,229
529 Savings 37,657 36,951 -706
Credit Card 0% Balance Transfers 0 0 0
Total Assets $596,572 $574,427 -$22,145 (3.71%)

The S&P 500 index has been testing the July lows (down 4.11% since my last update) and could be heading quite a bit lower based on the goings on with Lehman Brothers, Merrill Lynch, and AIG:

(chart courtesy of msn.com)

Oil prices continued to fall to below $96 per barrel this morning on news that hurricane Ike did less damage than expected to the Gulf Coast oil infrastructure. Could $75 oil be possible by the end of the year?

Moneywise, the only thing on my radar screen is what to do with the proceeds from the E-LOAN 5.75% APY 2 year CD I opened two years ago. If the FOMC holds rates steady when they meet tomorrow, we'll hopefully see the 5%+ CD offerings continuing for a while. Hard to say what they'll do though, since I think we've still got a way to go with the mess in the financial markets and additional rate cuts could be on the way. At any rate, it's certainly hard to believe that you could get 6% APY CDs at Penfed one year ago.


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