Saturday, September 30, 2006
Simplify Financial Accounts
Many of us have the experience overwhelmed with multiple statements from different financial institutes and lost track. Consolidating these accounts to make life easier.
Credit Union and/or Bank Accounts
Need two accounts. A local one where you can deposit/withdraw chaecks and cash. An online one to park cash with higher rate.
Mutual Fund and/or Brokerage Accounts
Again two accounts. A regular brokerage account and tax-derred accounts.
Credit Card Accounts
I do not carry balance over, therefore reward cards are no brainer. A mastercard/visa card and an American Express Card.
In an ideal world, all these accounts are offered by a single institution. Many years ago American Express tried "One" account, did not really work well. This service still exist, but the deal is not sweat as it once was. However, one can still consolidate these essentail accounts into fewer institution. For example, Wells Fargo 's PMA account or Fidelity Investment account.
Credit Union and/or Bank Accounts
Need two accounts. A local one where you can deposit/withdraw chaecks and cash. An online one to park cash with higher rate.
Mutual Fund and/or Brokerage Accounts
Again two accounts. A regular brokerage account and tax-derred accounts.
Credit Card Accounts
I do not carry balance over, therefore reward cards are no brainer. A mastercard/visa card and an American Express Card.
In an ideal world, all these accounts are offered by a single institution. Many years ago American Express tried "One" account, did not really work well. This service still exist, but the deal is not sweat as it once was. However, one can still consolidate these essentail accounts into fewer institution. For example, Wells Fargo 's PMA account or Fidelity Investment account.
# posted by SIMPLE FINANCE @ 3:12 PM 
