tag:blogger.com,1999:blog-14245531.post4245302683044452880..comments2023-11-18T01:21:55.631-05:00Comments on My Open Wallet: 2007 Cash FlowMadame Xhttp://www.blogger.com/profile/11536189690094235926noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-14245531.post-16315988836196776682008-01-17T01:33:00.000-05:002008-01-17T01:33:00.000-05:00Hi,Definitely don't beat yourself up about it...re...Hi,<BR/><BR/>Definitely don't beat yourself up about it...remember, you're doing great financially. Some years just end up being a learning lesson...take it for that. Just remember to treat after-tax savings from "take home pay" (after retirement contributions) just as you do with retirement contributions...pay yourself first, put some aside somewhere and forget about it. Then spend what's left over. <BR/><BR/>Also, I've noticed with your income/tax burden and the investments you have...its time to at least consider (if you haven't already) a tax-exempt place for your excess emergency savings. I've noticed you have quite a bit in laddered CDs/regular savings...this all generates taxable interest income. Since you have a high income in a high tax state (NY) you should really think about ditching the laddered CDs for a good federal & state tax free money market fund. Vanguard has some good ones that invest in state/local munis for those of us in high tax states (I use the one for CA, a very high tax state). After taxes, your yield will likely be higher than what you get now. Here's a link: https://personal.vanguard.com/us/funds/snapshot?FundId=0163&FundIntExt=INT If you read through the prospectus, it gives you an idea of what tax brackets should be in tax-exempt vs regular. Vanguard even has a calculator to help you decide (you have to know your federal & state tax brackets): https://personal.vanguard.com/us/funds/tools/taxequivalentyield You just select your state, tell it your tax brackets and it will tell you what after-tax yield you need to beat their tax-exempt yield. Check it out, I have a feeling it may be good for you!<BR/><BR/>JT in SoCalAnonymousnoreply@blogger.com