From: douglas@panix.com   
      
   Peter T. Daniels  wrote:   
      
   : > A bit OT for this thread, but I was shocked that my MM account was paying   
   : > 4.5% APY, where my car loan rate is 3.9%. Now I know that I have to pay   
   : > income tax on the 4.5%, but it's gotten to the point that if you are   
   : > clever, your money will no longer be earning 0.001%, and will still be   
   : > fairly liquid.   
      
   : But it isn't fairly liquid if you have to maintain a minimum balance   
   : in the $1000s.   
      
   That depends on the individual's personal situation and their expection.   
      
   Keep as little as you need to in your checking account to avoid a   
   monthly maintenance fee; put the rest in a MM account or other HY   
   savings account.  Most banks will waive fees on the checking account   
   with direct deposit.   
      
   I assume many brokerage houses (where your 401k is) will count that   
   401k balance towards any minimums, opening up more options for a   
   high yield savings vehicle.   
      
   If you need money on-demand, might as well keep it under a mattress.   
   Thee business days should be enough to get your hands on cash.   
      
   --   
       "How would you like it if you were a business executive, and when you   
          made a mistake, a red light went on and 18,000 people started   
                      screaming?" - Jacques Plante, goalie   
                   METS = My Entire Team Sucks    GO RANGERS!!!   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)