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Re: Landlord/Tenant Credit Checks

ddurrett896 wrote:Maybe I've been lucky, but I think it's pretty easy to figure out a candidate after talking to them.

My experience has been just the opposite. I can't tell the good from the bad by talking to them.
by Abe
Fri Mar 27, 2015 4:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Landlord/Tenant Credit Checks
Replies: 18
Views: 965

Re: Can you really know your AA until you've hit a bear mark

"Everybody has a plan until they get hit. Then, like a rat, they stop in fear and freeze.'
Mike Tyson :beer
by Abe
Fri Mar 27, 2015 1:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Can you really know your AA until you've hit a bear market?
Replies: 74
Views: 5149

Re: Restaurant tipping

This thread demonstrates the problems ingrained in the tipping system.
by Abe
Thu Mar 26, 2015 10:58 am
 
Forum: Personal Consumer Issues
Topic: Restaurant tipping
Replies: 200
Views: 11730

Re: What Age Did You First Ponder Financial Independence?

In order to reach fruition, you first have to plant the seed. :beer
by Abe
Thu Mar 26, 2015 10:00 am
 
Forum: Personal Finance (Not Investing)
Topic: What Age Did You First Ponder Financial Independence?
Replies: 74
Views: 6815

Re: Splitting a Food Tab on a Combined Birthday Lunch

If four people eat lunch together four times a year and their bills are $21.00 each then they are paying $84.00 each per year. If one person gets their lunch "free" one time per year, the other three make up the difference, so three people are paying $28.00 each which is still $84.00 per ...
by Abe
Wed Mar 25, 2015 4:58 pm
 
Forum: Personal Consumer Issues
Topic: Splitting a Food Tab on a Combined Birthday Lunch
Replies: 54
Views: 3744

Re: Splitting a Food Tab on a Combined Birthday Lunch

If four people eat lunch together four times a year and their bills are $21.00 each then they are paying $84.00 each per year. If one person gets their lunch "free" one time per year, the other three make up the difference, so three people are paying $28.00 each which is still $84.00 per y...
by Abe
Wed Mar 25, 2015 10:54 am
 
Forum: Personal Consumer Issues
Topic: Splitting a Food Tab on a Combined Birthday Lunch
Replies: 54
Views: 3744

Re: What Age Did You First Ponder Financial Independence?

Although I didn't much think it was possible, I seem to remember thinking about what it would be like to be a millionaire when I was in high school. A few years later, I remember reading an article in a magazine about how most anyone could become a millionaire if they had enough time. Along with the...
by Abe
Sun Mar 22, 2015 4:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: What Age Did You First Ponder Financial Independence?
Replies: 74
Views: 6815

Re: An inspiring message for Bogleheads

Thank you Peter. Some aspects of your story remind me of when I was young. Just keep on doing your own thing and don't worry about being an outlier. You are headed in the right direction. I, too greatly appreciate Mr. Taylor Larimore for everything he has done to help others.
by Abe
Sat Mar 21, 2015 10:12 am
 
Forum: Investing - Theory, News & General
Topic: An inspiring message for Bogleheads
Replies: 56
Views: 4201

Re: Definition of financial independence?

From Wikipedia: Financial independence is generally used to describe the state of having sufficient personal wealth to live, without having to work actively for basic necessities.[1] For financially independent people, their assets generate income that is greater than their expenses. It does not mat...
by Abe
Thu Mar 19, 2015 9:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Definition of financial independence?
Replies: 52
Views: 4839

Re: Definition of financial independence?

You can work for money or money can work for you, or both. You are financially independent when you don't have to work for money anymore. :beer
by Abe
Tue Mar 17, 2015 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Definition of financial independence?
Replies: 52
Views: 4839

Re: What are some common misconceptions found in this forum?

1. Vanguard is always the best (Fidelity and Schwab have a better checking account, Schwab has Coverdell. Schwab has index funds with lower minimums than even Vanguard at similar cost. Both probably have better customer service) 2. It's wrong to spend a lot of money on a house/car/watch/computer et...
by Abe
Sun Mar 15, 2015 5:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: What are some common misconceptions found in this forum?
Replies: 209
Views: 17310

Re: Sell gas station for one dollar

It has ceased to be a gas station years ago and is only a mechanic shop now, but the underlying issue remains (pun intended). If that is the case, he may be able to do something like this: (from previous post) At one time, station owner could drain underground tanks, then fill with sand. So old lea...
by Abe
Sun Mar 15, 2015 12:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sell gas station for one dollar
Replies: 48
Views: 3924

Re: Sell gas station for one dollar

At one time, station owner could drain underground tanks, then fill with sand. So old leaky tank could not be used again. This was a situation where it was extremely hard to dig up old tanks. Don't know if they will still let you do that, but may be worth checking into. I know this from personal exp...
by Abe
Sun Mar 15, 2015 12:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sell gas station for one dollar
Replies: 48
Views: 3924

Re: Sell gas station for one dollar

If the tanks have been leaking for years the owner must have known because he was buying more gas then he was selling. I'm from New Jersey and have no tolerance or sympathy for polluters; if he doesn't take the $1 he should be prosecuted. Easier said than done. Have you ever been in a situation whe...
by Abe
Sun Mar 15, 2015 12:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sell gas station for one dollar
Replies: 48
Views: 3924

Re: Buffett and Bogle almost on the same page

stemikger wrote:Does anyone agree with Warrren's definition of risk in paragraph 2.


Risk means different things to different people. That's why we shouldn't use a cookie-cutter
approach to investing. It all depends.
by Abe
Sat Mar 14, 2015 11:34 am
 
Forum: Investing - Theory, News & General
Topic: Buffett and Bogle almost on the same page
Replies: 19
Views: 2059

Re: Break room conversation about investing and Oil

Everybody's got to do their own thing. They're not going to change you, and you're not going to change them.
by Abe
Thu Mar 05, 2015 5:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Break room conversation about investing and Oil
Replies: 9
Views: 697

Re: Why don't YOU follow Buffett's advice?

"Why don't YOU follow Buffett's advice?"

There is no cookie cutter approach to investing. There are basics we can learn, but then we need to tailor these basics to our individual situation. We are all different.
by Abe
Thu Mar 05, 2015 12:32 pm
 
Forum: Investing - Theory, News & General
Topic: Why don't YOU follow Buffett's advice?
Replies: 122
Views: 10517

Re: Do you consider mortgage payments as savings?

Definition of savings The portion of disposable income not spent on consumption of consumer goods but accumulated or invested directly in capital equipment or in paying off a home mortgage, or indirectly through purchase of securities. From: http://www.businessdictionary.com/definition/savings.html#...
by Abe
Wed Mar 04, 2015 2:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you consider mortgage payments as savings?
Replies: 410
Views: 20159

Re: Do you consider mortgage payments as savings?

I haven't read all the post so someone else may have already posted something similar to this. According to Investopedia the DEFINITION of 'Savings' is: According to Keynesian economics, the amount left over when the cost of a person's consumer expenditure is subtracted from the amount of disposable...
by Abe
Mon Mar 02, 2015 6:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you consider mortgage payments as savings?
Replies: 410
Views: 20159

Re: Do you consider mortgage payments as savings?

Your equity in your home is part of your net worth. The value of your home is an asset. The remaining balance on your mortgage is a liability. You can look at your amortization schedule and see the remaining balance on your loan after each payment. So if your home value is $200k and your loan balanc...
by Abe
Sun Mar 01, 2015 6:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you consider mortgage payments as savings?
Replies: 410
Views: 20159

Re: IRS Called and Asked for Personal Information

I just got the information below from the IRS website. Whoever called me gave me this number to call back 1-800-829-1040. This is the same number listed to call on the IRS website. “Taxpayers should remember their first contact with the IRS will not be a call from out of the blue, but through offici...
by Abe
Thu Feb 26, 2015 2:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRS Called and Asked for Personal Information
Replies: 16
Views: 1708

IRS Called and Asked for Personal Information

I just received a phone call and they identified themselves as the IRS calling. They said they had received something from me in the mail and they wanted to verify some information. They then asked for my social security number and my address. I told them I was not going to give them any personal in...
by Abe
Thu Feb 26, 2015 2:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRS Called and Asked for Personal Information
Replies: 16
Views: 1708

Re: How much has Bogleheads contributed to your net worth?

I enjoy reading it and posting occasionally, but I don't think it has had much effect on my net worth.
by Abe
Mon Feb 23, 2015 2:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much has Bogleheads contributed to your net worth?
Replies: 58
Views: 4286

Re: Comedian Kevin Hart: "Stay in your financial lane."

Or, the people you hang out with spend money like they have money, but they actually don't have money. Been there too. :D
by Abe
Mon Feb 23, 2015 1:38 pm
 
Forum: Investing - Theory, News & General
Topic: Comedian Kevin Hart: "Stay in your financial lane."
Replies: 3
Views: 1435

Re: Should you always/usually go with the lower expense rati

As mhc said, there will always be some fund that outperforms some index. I think the problem is that we don't know which one will outperform. So, as a general rule we would be better off not trying to pick which one will outperform and just go with the lowest ER.
by Abe
Fri Feb 20, 2015 5:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should you always/usually go with the lower expense ratio?
Replies: 20
Views: 1243

Re: Dave Ramsey Lashes Out at His Financial Critics

He's just doing what a lot of commissioned brokers do which is selling something and getting paid a commission. There is some truth to what he says. I've heard him say there is nothing wrong with paying a commission. In some cases that could be a true statement if you get what you pay for. But, for ...
by Abe
Wed Feb 18, 2015 4:24 pm
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 9957

Re: A Special Message From Social Security

I received the same message this morning. It may be legitimate or it may not. Why take the risk? I would never click on a link that I received by email and give personal information.
by Abe
Wed Feb 18, 2015 11:30 am
 
Forum: Personal Consumer Issues
Topic: A Special Message From Social Security
Replies: 68
Views: 6412

Re:

25: good education 35: good career, paid off student loan debt 45: $300K 55: $800K 65: $1.5 million Per person, in today's dollars, including home equity in primary residence. This would be for someone hoping to support a ~$50K/year lifestyle per person. It wouldn't even require a taxable account. ...
by Abe
Wed Feb 11, 2015 3:49 pm
 
Forum: Investing - Theory, News & General
Topic: Average amount saved for retirement by age
Replies: 133
Views: 27768

Re: Is Risk Real?

What is the risk of losing all your money in say an S&P 500 Index fund? The way I look at this risk is in degrees. If the S&P 500 lost 25% of its value, then I lose 25% assuming I sell out at the low. This is the highest risk or lets say the high range of risk. What if it loses 50%? Well, t...
by Abe
Mon Feb 09, 2015 7:30 pm
 
Forum: Investing - Theory, News & General
Topic: Is Risk Real?
Replies: 74
Views: 3875

Re: Is Risk Real?

What is the risk of losing all your money in say an S&P 500 Index fund? The way I look at this risk is in degrees. If the S&P 500 lost 25% of its value, then I lose 25% assuming I sell out at the low. This is the highest risk or lets say the high range of risk. What if it loses 50%? Well, th...
by Abe
Mon Feb 09, 2015 5:19 pm
 
Forum: Investing - Theory, News & General
Topic: Is Risk Real?
Replies: 74
Views: 3875

Re: Is Risk Real?

I went to Investopedia and found 11 types of risk listed below. I am sure there are many more. So, what exactly is risk? I think risk means different things to different people. Since risk is so hard to specifically define, I would broadly define it as, "anything that negatively effects my inve...
by Abe
Mon Feb 09, 2015 3:18 pm
 
Forum: Investing - Theory, News & General
Topic: Is Risk Real?
Replies: 74
Views: 3875

Re: Best investment for $500

Mako wrote:Plastics. There's a great future in plastics. Think about it. Will you think about it?


Dang it. I was going to do that one. :annoyed
by Abe
Thu Feb 05, 2015 5:23 pm
 
Forum: Investing - Theory, News & General
Topic: Best investment for $500
Replies: 31
Views: 2203

Re: Janitor in Vermont leaves millions

Why are we assuming he was a great investor? His 6 million could be the result of 65 years of compounding on an inheritance of $136,000. I can't speak for others here, but I didn't assume he was a great investor. I think he was a very ordinary person who saved and invested most of the money he made...
by Abe
Thu Feb 05, 2015 3:09 pm
 
Forum: Investing - Theory, News & General
Topic: [Janitor in Vermont leaves millions] A true Boglehead!
Replies: 47
Views: 3158

Re: Janitor in Vermont leaves millions

Nooo! Haven't bought store coffee in years (apart from occasional McDonald's for a buck). Secret handshake ahead! A couple of years ago I walked into McDonald's for a coffee, and they charged me 49 cents. WTH? It turns out they have a secret menu item, "Senior Coffee" that varies by store...
by Abe
Thu Feb 05, 2015 2:18 pm
 
Forum: Investing - Theory, News & General
Topic: [Janitor in Vermont leaves millions] A true Boglehead!
Replies: 47
Views: 3158

Re: Janitor in Vermont leaves millions

I can imagine Larry Swedroe saying, "Didn't this guy know the risks he was taking?" Bill Bernstein would be posting that the janitor needed thousands of stocks. There should be discussion about risk and volatility measurements, Monte Carlo simulations, efficient frontiers, and that the ja...
by Abe
Thu Feb 05, 2015 1:53 pm
 
Forum: Investing - Theory, News & General
Topic: [Janitor in Vermont leaves millions] A true Boglehead!
Replies: 47
Views: 3158

Re: Janitor in Vermont leaves millions

Although it may cost more and be less diversified, I don't see why anyone couldn't do the same thing with a portfolio of individual stocks as someone investing in a stock index fund if you buy and hold. The article said he knew how to pick stocks. That doesn't mean he was doing a lot of buying and s...
by Abe
Thu Feb 05, 2015 1:28 pm
 
Forum: Investing - Theory, News & General
Topic: [Janitor in Vermont leaves millions] A true Boglehead!
Replies: 47
Views: 3158

Re: Are car loans really that bad?

I wouldn't say that car loans are really that bad, but like a lot of questions here, the answer is, it depends. In the past, I saved enough money until I could pay cash. What's the difference in (making a payment) putting aside a certain amount of money into an account earmarked for buying a car, an...
by Abe
Wed Feb 04, 2015 5:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Are car loans really that bad?
Replies: 86
Views: 6899

Re: Bogleheads has made me obsessive about our money

Saving and investing is a learning process that never ends. Even here on this site it's not the end-all. We can all look back and see mistakes we made, but we should learn from our mistakes. That's how we got to where we are. I made a lot of "risky" investments in the past that I may not h...
by Abe
Mon Feb 02, 2015 3:01 pm
 
Forum: Personal Consumer Issues
Topic: Bogleheads has made me obsessive about our money
Replies: 41
Views: 5631

Re: House flipping investing - Am I wrong or what? Please ad

Mrxyz: I have been doing this kind of thing for many, many years. Buying discounted mortgages, making hard money loans to people who can't qualify for bank loans, creating paper, buying mobile home paper, you name it. You can make a lot of money doing this kind of thing, but you need to know what yo...
by Abe
Fri Jan 30, 2015 5:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: House flipping investing - Am I wrong or what? Please advice
Replies: 30
Views: 4546

Re: what to expect back from title company after refinancing

I have never refinanced, but I would think you should get copies of paperwork just like you would with a new loan closing. You should call the title company and ask.
by Abe
Fri Jan 30, 2015 3:27 pm
 
Forum: Personal Consumer Issues
Topic: what to expect back from title company after refinancing?
Replies: 4
Views: 521

Re: Anyone know when CD rates will increase?

C D rates will increase September 16, 2015.
by Abe
Fri Jan 30, 2015 2:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Anyone know when CD rates will increase?
Replies: 70
Views: 5531

Re: Frugality regret: What thing do you regret not spending

I bought a pair of shoes one time, and later I discovered they hurt my feet. :happy

oops, sorry, this is supposed to be about things you regret not spending money on.
by Abe
Fri Jan 30, 2015 1:52 pm
 
Forum: Personal Consumer Issues
Topic: Frugality regret: What thing do you regret not spending on?
Replies: 133
Views: 21858

Re: Frugality regret: What thing do you regret not spending

Sheepdog wrote:I really try not to have any regrets, as regrets seem to hurt more. Besides, nothing changes with regrets. You can only change the future, not the past. That's basically what Lorek said


I agree with this 100%. Why worry about something you did or didn't do in the past?
by Abe
Fri Jan 30, 2015 1:49 pm
 
Forum: Personal Consumer Issues
Topic: Frugality regret: What thing do you regret not spending on?
Replies: 133
Views: 21858

Re: Workplace net worth conversations you'd like to avoid?

I lived in a small town that had one barber that everyone went to. One time I was sitting in the barber shop waiting to get a haircut. There was a man ahead of me getting a haircut. He talked the whole time the barber was cutting his hair, and he was extremely presumptuous and opinionated. This man ...
by Abe
Fri Jan 30, 2015 11:39 am
 
Forum: Personal Consumer Issues
Topic: Workplace net worth conversations you'd like to avoid?
Replies: 87
Views: 9506

Re: Initial SEC yield and subsequent 5yr and 10yr returns

As my Korean friend Mr. Lee used to say, "I'm con-foosed".
by Abe
Thu Jan 29, 2015 5:41 pm
 
Forum: Investing - Theory, News & General
Topic: Initial SEC yield and subsequent 5yr and 10yr returns
Replies: 142
Views: 7584

Re: Anyone know when CD rates will increase?

There is some speculation that the Fed will start raising rates sometime in 2015. But that is just speculation. Even if they do start raising rates, it will probably be painfully slow. As others have said, nobody knows. I made the mistake of thinking rates would not stay down very long. I figure I ...
by Abe
Thu Jan 29, 2015 3:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Anyone know when CD rates will increase?
Replies: 70
Views: 5531

Re: Anyone know when CD rates will increase?

There is some speculation that the Fed will start raising rates sometime in 2015. But that is just speculation. Even if they do start raising rates, it will probably be painfully slow. As others have said, nobody knows. I made the mistake of thinking rates would not stay down very long. I figure I a...
by Abe
Thu Jan 29, 2015 12:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Anyone know when CD rates will increase?
Replies: 70
Views: 5531

Re: Workplace net worth conversations you'd like to avoid?

This reminds me of something that happened to me many years ago. An insurance agent in the town where I lived tried to sell me a $10k life insurance policy. This policy had some kind of cash value component and he was trying to sell me on the idea that I would have $10k when I retired. He was very d...
by Abe
Wed Jan 28, 2015 4:49 pm
 
Forum: Personal Consumer Issues
Topic: Workplace net worth conversations you'd like to avoid?
Replies: 87
Views: 9506

Re: Where to get medallion signature guarantee

In the past when I was asked to provide a medallion signature guarantee, I told them I could not obtain one which was the truth. They did the transactions without the MSG. I think I have done this a couple of times.
by Abe
Sat Jan 24, 2015 11:04 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to get medallion signature guarantee
Replies: 49
Views: 4274
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