tag:blogger.com,1999:blog-14245531.post3925649876522850355..comments2023-11-18T01:21:55.631-05:00Comments on My Open Wallet: Net Worth May 2007Madame Xhttp://www.blogger.com/profile/11536189690094235926noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-14245531.post-20602624172131691812007-06-06T18:04:00.000-04:002007-06-06T18:04:00.000-04:00I am definitely not upside down on my condo! I onl...I am definitely not upside down on my condo! I only financed 80% of the purchase price, and though I did buy at a high point, the New York market hasn't drastically fallen yet.<BR/>However, I agree that I am in a position to have to be cautious and conservative about what I assume the condo is worth, and I added only a very small percentage onto the price I paid.Madame Xhttps://www.blogger.com/profile/11536189690094235926noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-34346447284320940232007-06-06T17:09:00.000-04:002007-06-06T17:09:00.000-04:00I would strongly suggest you don't assume that you...I would strongly suggest you don't assume that you have automatic equity in your house. Those days have ended or will be ending soon. In your calcs, you should really just use the amount of cash you've put against your mortgage so far as your "equity." Even then, it's quite possible you're upside down now since you bought at the top of the market.<BR/><BR/>It shouldn't bother you, of course, because you aren't planning to sell anytime soon. But, you shouldn't mislead yourself into thinking you have more equity than you do.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-19078583745360371392007-06-06T16:11:00.000-04:002007-06-06T16:11:00.000-04:00Have you considered using some of your cash/CD pos...Have you considered using some of your cash/CD positions to become a lender through Prosper.com? I've had pretty good success so far, with over 20 loans averaging over 13%; no defaults or lates so far. I've posted strategies and top groups to lend to if interested. gotta say, I love the model. And for the amount of cash you have, may want to consider. Of course, I assume you want to keep a decent amount in liquid assets and these loans are 3 year lockins, but perhaps 5 grand? Would love to hear your thoughts. Dan at edf.Everyday Financehttps://www.blogger.com/profile/13813170565251310026noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-77662401563474332902007-06-06T06:07:00.000-04:002007-06-06T06:07:00.000-04:00Bronx Chica...you are a woman who has a relationsh...Bronx Chica...you are a woman who has a relationship with her money! Congrats on your mid-year review of your net worth!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-2515323973540831682007-06-06T00:34:00.000-04:002007-06-06T00:34:00.000-04:00Here's a link to Vanguard's NY Tax-Exempt Money Ma...Here's a link to Vanguard's NY Tax-Exempt Money Market Fund:<BR/><BR/>https://flagship.vanguard.com/VGApp/hnw/FundsSnapshot?FundId=0163&FundIntExt=INT<BR/><BR/>Its compound yield is 3.71% right now (so 5.15% tax-equivalent yield if in 28% federal bracket [and actually higher, as it is exempt from NY State tax as well]). The initial minimum is only $3000, with $100 minimum for additional investments.<BR/><BR/>I have my 'cash' in Vanguard's Tax-Exempt Money Market Fund (as I no longer live in NYC, but Texas, so do not need the added benefit of a NY specific one). When I've needed money, the transfer out to my checking account have been quite fast (2-3 days, tops).<BR/><BR/>Personally, I think this is the best option for immediate access money for relatively high-earners who can afford the initial minimum (you appear to qualify for all that).<BR/><BR/>Other mutual fund firms have similar MM funds, though Vanguard's 0.13% expense ratio is hard to beat (my IRAs [a Roth and Traditional] are with Fidelity, and its equivalent NY MMF has a 0.39% expense ratio).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-40408904342091690662007-06-05T18:01:00.000-04:002007-06-05T18:01:00.000-04:00madame x i'm marry u, but i heard your cd.madame x i'm marry u, but i heard your cd.john cardhttps://www.blogger.com/profile/11073546043853117824noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-68606863295732864652007-06-05T17:36:00.000-04:002007-06-05T17:36:00.000-04:00Interesting question, Mase! I opened a couple of C...Interesting question, Mase! I opened a couple of CDs at a point when the interest rates were quite high, and have since been lazily letting them mature and roll over automatically at lower rates. I haven't looked into the kind of fund you're mentioning, but it sounds like a good idea, so I'll check it out. Thanks!Madame Xhttps://www.blogger.com/profile/11536189690094235926noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-56644900550437008762007-06-05T17:10:00.000-04:002007-06-05T17:10:00.000-04:00Just curious why you use CDs for your "cash on han...Just curious why you use CDs for your "cash on hand" as opposed to a money market mutual fund (especially one that is tax-exempt like Vanguard's NY Tax-Exempt Money Market fund) where you'd have immediate access to your money and almost identical, if not higher, returns.<BR/><BR/>Do not mean to appear to be critical (as many Money Market Mutual Funds have a high initial amount -- $3K or more), but more curious. <BR/><BR/>More importantly, thank you for your informative and insightful posts (especially your "Rules" ones).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-35520827143719133332007-06-05T15:21:00.000-04:002007-06-05T15:21:00.000-04:00Wow. A woman who can handle money! Say, do you nee...Wow. A woman who can handle money! Say, do you need a boyfriend? Muhahahaha. Best RD<BR/><BR/><BR/>PS: Cool blog, I came across it recently, and enjoyed reading it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-79643088882495287082007-06-05T10:24:00.000-04:002007-06-05T10:24:00.000-04:00Congratulations on having a great year thus far!Congratulations on having a great year thus far!SavingDivahttps://www.blogger.com/profile/10267021491907810696noreply@blogger.com