My post on the Monte Carlo estimator for retirement planning was included in this week’s Carnival of Personal Finance.  LAL is the host this week at LivingAlmostLarge and she did a great job compiling the list and included a line or two about every article.  Kudos to you, LAL, for going the extra mile.  Some of your comments are pretty on target, too.  I especially liked the comparison of credit to booze.  It’s true that some folks can’t help themselves and would be better off abstaining.

The carnival had a number of other intersting articles including:

• AskMrCreditCards’ article discussing Can Credit Card Companies Go After You If You Leave The Country?, including the legal, moral, and practical implications of leaving without paying.
• Rohit from eMoneyLog wrote a two part Complete guide to emergency funds, which in general is quite good.  I disagree, however with his statement that certificates of deposit aren’t a good place for Emergency Funds.  I think a CD is a great place to stash the cash, because it’s just hard enough to get money out that you won’t be tempted to spend it on that shiny new set of golf clubs you’ve been wanting.  And Ally bank offers a no-penalty CD with a pretty good rate.
• Mr. GoTo from GoToRetirement wrote on how to Create a Free Financial Plan, listing two online programs and two stand-alone software programs — all free.  I’ll be checking them out, and I’ll be reading more of his well-written blog, too.

Photo credit:  Robert C at Flickr.

GMAC Bank recently rebranded itself as Ally Bank.  I’m not sure if the makeover was a result of the bailout of the banks, or the bailout of GM (or perhaps, both).  The bank still offers some of the best rates available on Certificates of Deposit.  They also offer a 9-month CD that has no early-withdrawal penalty, as pointed out by a reader at IndependentBeginnings.  That’s the first I’ve heard of such an offer.  A no-penalty CD is a perfect place to stash an Emergency Fund.

I’ve kept my Emergency Fund at either E-Trade or ING.  I established electronic transfer between the two accounts.  Periodically (every month or two) I check which is paying the higher rate, and I transfer funds accordingly.

Presently, both E-trade and ING are paying a rate of about 1.4%, while the Ally CD pays 2.47%.  That might make it worth opening an Ally account.

Of course, Ally Bank is FDIC insured, which guarantees your deposits up to $250,000.

Where do you keep your Emergency Fund?