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RobinWed, 30 Jul 2008 19:52:31 +0000http://baglady.dreamhosters.com/2007/08/23/using-the-vanguard-tax-exempt-money-market-funds-as-a-high-yield-checkings-and-savings-account/#comment-2188My friend has saved money of about $10,000 which he still keeps in a typical bank account. Now, he understands that such places may be inclined to believe many people could be involved in some nefarious undertakings, which my friend is not.
I do not know a lot about money as such, but I am aware that there are far better ways to protect one's hard earnings from financial institutions such as banks.
Will you be kind enough to suggest where he might place his savings where he can realize a good to very good yield.
Thanks.
RHDMy friend has saved money of about $10,000 which he still keeps in a typical bank account. Now, he understands that such places may be inclined to believe many people could be involved in some nefarious undertakings, which my friend is not.
I do not know a lot about money as such, but I am aware that there are far better ways to protect one’s hard earnings from financial institutions such as banks.
Will you be kind enough to suggest where he might place his savings where he can realize a good to very good yield.
Thanks.
RHD
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Reader Question — Should You Save for Retirement or a House? — The BagladyWed, 31 Oct 2007 08:50:19 +0000http://baglady.dreamhosters.com/2007/08/23/using-the-vanguard-tax-exempt-money-market-funds-as-a-high-yield-checkings-and-savings-account/#comment-384[...] both comfortable with. We’re keeping most of what we save outside of our 401ks in a Vanguard money market fund and a Vanguard index fund and we do intend to use the money to purchase a home sometime in the [...][...] both comfortable with. We’re keeping most of what we save outside of our 401ks in a Vanguard money market fund and a Vanguard index fund and we do intend to use the money to purchase a home sometime in the [...]
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http://baglady.dreamhosters.com/2007/08/23/using-the-vanguard-tax-exempt-money-market-funds-as-a-high-yield-checkings-and-savings-account/comment-page-1/#comment-140
adminTue, 25 Sep 2007 16:38:00 +0000http://baglady.dreamhosters.com/2007/08/23/using-the-vanguard-tax-exempt-money-market-funds-as-a-high-yield-checkings-and-savings-account/#comment-140hi Linda,
1-0.28-0.093=0.627
X * 0.627 = 3.58
therefore X = 3.58/0.627 = 5.71
Since you live in NY your tax rate is different. I think your top bracket is 6% or so? So you do something like this:
X * (1-fedtaxrate-statetaxrate) = vanguard yieldhi Linda,
1-0.28-0.093=0.627
X * 0.627 = 3.58
therefore X = 3.58/0.627 = 5.71
Since you live in NY your tax rate is different. I think your top bracket is 6% or so? So you do something like this:
X * (1-fedtaxrate-statetaxrate) = vanguard yield
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http://baglady.dreamhosters.com/2007/08/23/using-the-vanguard-tax-exempt-money-market-funds-as-a-high-yield-checkings-and-savings-account/comment-page-1/#comment-139
lindaTue, 25 Sep 2007 14:47:24 +0000http://baglady.dreamhosters.com/2007/08/23/using-the-vanguard-tax-exempt-money-market-funds-as-a-high-yield-checkings-and-savings-account/#comment-139I see your formula; but where did 0.627 come from in 3.58/0.627 = 5.71 ? I am looking into the Vanguard fund for NY.I see your formula; but where did 0.627 come from in 3.58/0.627 = 5.71 ? I am looking into the Vanguard fund for NY.
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