Is this "Diversification?"

Where my money at, yo:

Bank of America Checking: $2,492.28
Bank of America Maximizer Savings: $674.96
Bank of America Family Checking: $421.19
Bank of America Savings: $1,156.67
Bank of America Investment CD #1: $7,570.29
Bank of America Investment CD #2: $5,136.60
ING Direct Savings: $100.6
Paypal: $604.36
Prosper Lending: $125
Vanguard Individual Account: $4,505.46
Vanguard Roth IRA: $3,649.51
Sharebuilder GLD, 4 Shares: $348.92
Sharebuilder COMV, 4 Shares: $91.84
Total Net Worth (in USD) : $ 26,912.96 as of Jan. 18

Goal: $30,000 by end of 2008. If the stock market keeps sucking, I don’t know if that’s possible.

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6 thoughts on “Is this "Diversification?"”

  1. Looks pretty good to me….I hear you on the current state of the stock market, but one thing you have to keep in mind is: The lower the stock market goes, the better deal it becomes. Remember that. A bit simplistic, but not bad words to take to heart, similar to 'buy low'.best of luck

  2. Julie: I'm currently working on moving my cash out of my checking account (and crappy BoA savings accounts) and putting it into a higher interest savings at ING.I also get paid at random as a freelance writer, so sometimes my checking account looks healthy… but that's only until I pay off my bills. I'm open to any advice on where exactly I should put the money…I'm waiting on my BoA CD's to expire as well, since they're both getting kind of crappy rates. The funds from those will be consolidated and likely moved to one high interest fixed-rate CD as soon as I can.

  3. I can see how the freelance stuff could affect your checking like that. I currently have my checking and money market accounts with E*Trade, so I can easily switch around the money. As soon as I get paid, it all goes into the money market. (Actually, with E*Trade, if you direct deposit at least $200/month into your checking account, you can upgrade to an account with 4% interest!) Then, if I need to write a check or get cash, I can transfer it to the checking account online. I make most of my purchases on my credit card though, so I don't have lots of small transactions throughout the month.I suppose that you could do something similar with ING. The only thing I'm not sure about with these online accounts is about depositing checks. I have a Wachovia account if I ever need to do banking in person (of course, I just transfer the money right over to E*Trade).Also, one more question – you say this is your net worth – are you completely out of debt?

  4. Julie: I'm going to write an entry regarding the majority of this comment later today if I get a chance, but I wanted to answer your last question here:Yes, I'm completely out of debt. I'm *very* lucky. Between a lawsuit I won when I was young over a broken arm and my parents paying for college, I have no debt. This definitely makes me different from a lot of 20 year olds, which is why sometimes I feel so bad writing a personal finance blog, as I am guilty I'm so fortunate. Still, when I look at the cost of high ticket items (grad school, a house, etc) I see how I could end up in debt really fast.One of my good friends has thousands upon thousands of dollars of credit card debt, but her parents own two houses in the Bay Area, therefore she has her own house and doesn't have to pay rent. I'm paying $1050 a month in rent. Our view on working is very different. … Since this is also turning into its own blog entry, I'm going to continue this comment later on my main page. 🙂

  5. I don't think that you should feel bad about being out of debt; it's good that you acknowledge how lucky you are. I have a small amount of debt (~14k of student loans), but I also make a lot of money for someone who just graduated with a bachelor's, so I understand your feelings. I'm interested to hear more!

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