Hey Long Time No Post!

Sorry guys. Been really busy with work. I do a 3 hour commute to and from work each day so that takes a toll on me when I get home and barely get any time to myself. However, I am not complaining. I feel this sacrifice is needed to either move up within my corporation or become more marketable if I want to move to a different company, and hopefully a different city (closer to my girlfriend). Speaking of the gf, I visited her last weekend and realized then that a long time apart from one another is very difficult. I am definitely going to be working more cash into my budget to see her. I am sure my gf would agree with this investment too haha, but many might actually see it differently and think that using too much cash during this time for a relationship would be unwise. I would like to argue that in life we really need to see the larger picture. What are we working for? Our own gain? Family gain? Here in my respect I feel I am working toward a future with my gf and seeing her is definitely building on that. However not only am I looking to the future, but to the present in what makes me happy and keeps balance in my life. Those of you in a relationship I am sure can understand what I mean.

Well just for a further update on my life, I am getting deeper into my position and in the next couple weeks getting more responsibilities. I recently set up my 401k retirement with 4% of my income going into 3 mutual fund groups that focus on emerging markets and small-mid cap growth. These groups are actually risky if you are thinking of reallocating your 401k retirement. However, I looked deep into the portfolio and saw many companies I invested in, thus I picked the fund.

Also, I chose a health insurance plan that is a Health Savings Account (HSA). I encourage you all to pick these accounts if you can. They benefit the healthy, low medical cost patients, but still have a decent plan to cover you if you do get sick. The benefit of my corporation's HSA is that the company contributes to my savings account. The savings account is used to pay off any health costs that go toward your deductible.

Let's Prosper!

I know many PF blogs discuss Prosper, however I have yet to use it and will be incorporating it into my personal investments. Money lending though should be taken with the idea of how risky it may be. I know Prosper rates people, which is smart. However don't lend money you can't afford to lend. Pretty easy but some people get caught up in investments as one of their primary forms of income.

Anyway, I suggest you guys click the link I have at the top of the right side of my page just to see if it is for you. Like the ad says, you get a free $25 if you sign up to lend. Free money is always good.

Online Savings. Which Account is Best?

I know you have seen plenty of banner and TV ads for high yield savings accounts. But which is best?

1. Do your homework. In other words, look at the fine print. Some accounts require that you put a minimum deposit in the account, not touch the money for a certain period, etc.

2. Accessibility. Some people want to access their money quickly through either checks, atm, wire transfers, etc. The best accounts are ones that don't charge for any of those. Keep in mind the beauty of the online savings accounts is that you are choosing a bank that is either far from your hometown or strickly an online bank. Weigh that risk that you might only be able to make deposits that are in checking accounts or direct deposits. I am sure this isn't a problem for most but some people still deal strickly in cash and paychecks, so an online only account might not be the best move for you.

Here are the popular online high yield accounts:

E*Trade: 5.05% APY, no fees, $1 minimum deposit, link to other bank accounts with free transfers.

ING Direct Orange Account: 4.20% APY, no fees, no minimum.

HSBC Direct: 4.50% APY, no fees, since it is a bank it can link with other accounts but you pay the fees for transfer, $1 minimum deposit.

Personally, I picked E*Trade for my savings. It gives me the ability to move my money from savings to checking or my stock market account (which I also have on E*Trade) for free. This is huge for all of you. Avoid banking fees as much as you can, this is where they really make their money. Also, E*Trade gives you the best APY. The only way you are going to be letting your money make money is by picking the big earner. It is the same in all sides of your investments (stocks, savings, checking, etc.).