A look at MONEY from all angles.

11 September, 2006

Chasing Returns: Really Needed?

I was just reading a post over at Daniel's blog MyMoneyPath that got me to thinking that why do we chase returns and is it really necessary? I guess this is really human nature to be the best or try to get the best deal (at least for PF types). I will be the first to admit I do it too. Thats why I now have more accounts all over the place and am thinking about opening up even more (see last post). Even though this is exciting as I obsess about finances all the time, I think this is a very short term outlook on money management. People often chase returns (sometimes at any cost) that they forget their goals. That is why I think its necessary to have long term goals explicitly written down. Again, I have goals but havent formalized them. It helps to gain a clear perspective which inturn will give you an idea of what you need to do. This will help with writing down a plan on how to achieving the goals that have been set. I will have to follow my own advice and put into posts my goals and plans on achieving them. I think you should too.

Everbank at 6.01%

I must say WOW! I didnt think the rates would be this competitive. I have been scouting out Everbank for quite a while now and their introductory rates have been decent. (5.51% a few weeks ago). While this is only for 3 months I still think its a great deal. If anyone has bad reviews about Everbank please let me know before I jump on this. (I will do some research on it before I open up but would like to hear if you have already dealt with them.)

05 September, 2006

Networth Statement August 06

Networth Statement August 06
401k $ 35225.82
Roth IRA $ 9188.13
Brokerage $ 20650.90
Checking $ 6869.57
Savings $ 45380.19
CDs $ 0.00
Total Assets $ 117314.61


Credit Card 1 $ 444.47
Credit Card 2 $ 1170.93
Total Liabilities $ 1615.40

Networth July 06 $ 107044.50

Networth August 06 $ 115699.21 +8.09%
  • This turned out to be another spectacular month.
  • The ESPP shares that I didnt sell have rebounded a little. I am considering selling them now.
  • I got a nice unexpected bonus of ~6%. This increased my 401k contributions, and my net pay this paycheck.
  • The market has been mostly positive this month. My 401k, ESPP, and Roth have had a decent run back of late.
  • My favorite credit card (Citi Dividend Platinum Select Mastercard) just sent me the notice I have already been anticipating. The 5% rebates for gas and groceries are being cut to 2% only. I hope other companies [Chase, etc] dont follow suit.
  • It is taking a long time to set up my Treasury Direct account. I still have that hold on it.
Bottom Line: I wish I could have this month's performance for the next 240 months!