My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 2020 with at least $3 million.


By Topics

Overall:
0. About (10)
1. My Progress (139)
2. Car & Home (107)
3. Credit (138)
4. Banking (33)
5. Saving (49)
6. Investing (308)
7. Taxes (89)
8. Spending (74)
9. Misc (97)
A. Archive (49)



MONTHLY ARCHIVE

Feb 2014 (3)
Jan 2014 (6)
Jan 2012 (1)
Apr 2011 (1)
Mar 2011 (1)
Feb 2011 (1)
Jan 2011 (1)
Dec 2010 (1)
Oct 2010 (1)
Sep 2010 (1)
Aug 2010 (1)
Jul 2010 (1)
Jun 2010 (1)
May 2010 (1)
Apr 2010 (1)
Mar 2010 (6)
Feb 2010 (2)
Jan 2010 (7)
Dec 2009 (3)
Feb 2009 (4)
Jan 2009 (8)
Dec 2008 (1)
Jun 2008 (2)
May 2008 (2)
Apr 2008 (5)
Feb 2008 (3)
Jan 2008 (15)
Dec 2007 (32)
Nov 2007 (6)
Oct 2007 (8)
Sep 2007 (9)
Aug 2007 (24)
Jul 2007 (2)
Jun 2007 (1)
May 2007 (3)
Apr 2007 (4)
Mar 2007 (4)
Feb 2007 (13)
Jan 2007 (6)
Dec 2006 (3)
Nov 2006 (7)
Oct 2006 (7)
Sep 2006 (6)
Aug 2006 (4)
Jul 2006 (10)
Jun 2006 (1)
May 2006 (3)
Apr 2006 (2)
Mar 2006 (6)
Feb 2006 (6)
Jan 2006 (3)
Dec 2005 (1)
Nov 2005 (9)
Oct 2005 (8)
Sep 2005 (13)
Aug 2005 (25)
Jul 2005 (16)
Jun 2005 (17)
May 2005 (19)
Apr 2005 (20)
Mar 2005 (24)
Feb 2005 (23)
Jan 2005 (36)
Dec 2004 (40)
Nov 2004 (34)
Oct 2004 (17)
Sep 2004 (21)
Aug 2004 (59)
Jul 2004 (37)
Jun 2004 (31)
May 2004 (29)
Apr 2004 (52)
Mar 2004 (49)
Feb 2004 (49)
Jan 2004 (31)
Dec 2003 (48)
Nov 2003 (52)
Oct 2003 (29)
Sep 2003 (8)
Aug 2003 (5)
Jul 2003 (2)
Jun 2003 (2)
May 2003 (5)
Apr 2003 (2)
Mar 2003 (2)
Feb 2003 (3)
Jan 2003 (29)



 

$30,000 HELOC Closed

Contributed by mm | July 22, 2004 3:54 PM PST

Yesterday I closed my Home Equity Line of Credit of $30,000. It's a very streamlined process that only takes 20 minutes on the phone and a visit to my credit union's branch to sign a few documents. As expected, there is no closing fee of this line of credit, and the rate is Prime + 0.50%. Yes, there is $25 annual fee, but at $2/month it is a nice price to pay for liquidity insurance.

With the access to $30,000 now, it is now time to think about how to creatively leverage my capital structure. I am exploring some ideas like stable value funds or bank loan funds. I can see some opportunities of doing carry trade, but the margin is too low (like 2-3% annually) and there is little room for error. I may probably spend more time in research before taking any actions.

(By the way, my credit limit on the Visa with the credit union was also boosted from $5,000 to $13,000, bringing my total credit limit from credit cards to $68,200.)

This Post Has Received 22 Comments. Share Your Opinions Too.


Ron Commented on September 6, 2004

In most personal finance advice books, the idea of a rainy-day fund is promoted. Books of that kind usually promote the need to build a cash fund equal to 3 - 6 months of income. In keeping with that information, I used to keep $10K in a money-market account that was making about 1% a year, just in case.

I decided to keep a $20K HELOC, instead. The problem is that if I were to need the money, I would incur a debt instead of having the cash available and not having to take on debt.

So, I'm not certain about the value of a HELOC except as a source of cash in excess of cash on hand if a really good investment opportunity was to pop up.

Still, because I am within three years of early retirement, I am out of the stock market and in cash or equivalents. So, I have the liquidity if the right opportunity presented itself.

The thing is, I planned my retirement based on that same $1M threshold, and I am right where I should be: so I don't really need any other opportunity.

So, what is the value in the liquidity of a HELOC, even if it costs almost nothing?


asEn6jf83a Commented on December 21, 2016

cialis cost per pill arimidex 100mg doxycycline wellbutrin


EugeneOrert Commented on December 29, 2016

buy cipro generic eurax Cheap Cialis viagra soft


AaronSit Commented on January 17, 2017

wh0cd857086 where can i buy azithromycin arimidex viagra generic lipitor baclofen 10mg vantin generic bupropion hcl xl propecia skelaxin cialis for daily use


MichaelNub Commented on January 17, 2017

wh0cd437269 mobic drug effexor xr 150mg citalopram hbr furosemide 20 mg tab cost seroquel xr amaryl cialis without a prescription tadalafil clindamycin


EugeneOrert Commented on January 21, 2017

wh0cd885472 doxycycline online buy chloromycetin prazosin sleep crestor 10 mg tablet amoxicillin 875 mg buy neurontin online buy cialis from india cheap abilify moduretic read more


KennethCed Commented on January 22, 2017

wh0cd982169 himcolin without prescription albendazole accutane order online buy cheap lasix without prescription vpxl cleocin gel for acne levothroid canada cialis propecia


Bennyanymn Commented on January 25, 2017

wh0cd496204 nolvadex zoloft on sale found here tadalafil without rx buy cialis cheap nexium buy cardura albuterol clonidine hcl 0.2mg generic cialis


MichaelNub Commented on January 27, 2017

wh0cd430908 torsemide cialis citalopram phenergan dm mobic singulair ventolin clindamycin capsule lasix retin a tretinoin


CharlesLiede Commented on February 5, 2017

wh0cd649084 metformin albuterol inhalers for sale buy synthroid cialis flagyl medication cytotec tablet clonidine 0.2 mg


EugeneOrert Commented on February 8, 2017

wh0cd982156 hydrochlorothiazide generic avana crestor albuterol buy nexium cheap levaquin


AaronSit Commented on February 8, 2017

wh0cd605292 Albendazole Without A Prescription Buy Propecia Amoxil diclofenac no script strattera apoteket generic prometrium


EugeneOrert Commented on February 10, 2017

wh0cd714380 valtrex triamterene Benicar


Bennyanymn Commented on February 11, 2017

wh0cd418508 buy clonidine strattera baclofen diclofenac online viagra cheap diflucan


AaronSit Commented on February 12, 2017

wh0cd568092 cheap lasix order viagra


MichaelNub Commented on February 27, 2017

wh0cd119340 inderal trazodone full report


Bennyanymn Commented on March 6, 2017

wh0cd373565 viagra methotrexate buy ampicillin


Lr liek Commented on March 12, 2017

zemsbupe Cipro
soync cheap Cipro


Jr sit Commented on March 12, 2017

Chinia Zithromax
triver online


CharlesLiede Commented on March 19, 2017

wh0cd848268 viagra india pharmacy order levaquin lipitor lisinopril


Ma lout Commented on March 20, 2017

price cialis 20mg nurofen plus cialis price picture tablet cialis 20mg
buy cialis


Ds caum Commented on March 23, 2017

viagra bill
http://buyviagrawvrx.com - buy viagra
viagra skin cancer
viagra generic


Add Your Comments










Remember personal information?




(It will take a few moments for your comment to be published. Please do not close the window until then.)


Read More ... 138 Posts In The Same Category










This page was last rebuilt at March 23, 2017 12:14 AM PST. (175 Words)
 

RSS FEED





PERSONAL FINANCE BLOGS I READ

Consumerism Commentary
Get Rich Slowly
My Money Blog
All Financial Matters
The Simple Dollar






.



Copyright 2003-2014, PFBlog.com. All Rights Reserved. (Privacy Policy)