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Re: Does a home mortgage use Simple or Compund Interest?

Mortgages can be simple interest or compound interest. However, all mortgages are simple interest except those involving negative amortization, where the payment does not cover the interest. (If unpaid interest is added to the balance, as it is on a negative amortization loan, in future months, inte...
by Abe
Mon Apr 27, 2015 4:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does a home mortgage use Simple or Compund Interest?
Replies: 136
Views: 11466

Re: Best way to sell a used wedding ring?

It's hard to sell pre-owned jewelry. I have had some success on eBay. You need to find out if it is 10k, 14k, or whatever and have the diamond checked to see if it is real. Put all this information in your listing along with the weight of the rings. You should not list it for less than the melt valu...
by Abe
Mon Apr 27, 2015 4:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Best way to sell a used wedding ring?
Replies: 18
Views: 1813

Re: Will you buy an Apple Watch?

I didn't even get a cell phone until not so long ago. I made it fine without one, but I have to say I wouldn't want to do without it now. I don't think I can say the same for the watch gadget. I think I will make it fine without it. I can remember a time, long, long ago, when I wanted a watch like D...
by Abe
Sun Apr 26, 2015 1:46 pm
 
Forum: Personal Consumer Issues
Topic: Will you buy an Apple Watch?
Replies: 378
Views: 23787

Re: Nice Round Number reached tonight

Congrats! I don't understand why many people on this forum say that they can not share this with anyone. Because it falls right behind religion and politics concerning things better left out of casual conversation! Most folks are up to their nexts in consumer debt, they don't want to hear about you...
by Abe
Sun Apr 26, 2015 1:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Nice Round Number reached tonight
Replies: 32
Views: 4753

Re: Nice Round Number reached tonight

Congratulations. Mazel Tov :sharebeer
by Abe
Sun Apr 26, 2015 12:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Nice Round Number reached tonight
Replies: 32
Views: 4753

Re: Mutual Funds and Compound Interest

This is from Investopedia: Compounding is the ability of an asset to generate earnings, which are then reinvested in order to generate their own earnings. In other words, compounding refers to generating earnings from previous earnings. Suppose you invest $10,000 into Cory's Tequila Company (ticker:...
by Abe
Sat Apr 25, 2015 9:50 am
 
Forum: Investing - Help with Personal Investments
Topic: Mutual Funds and Compound Interest
Replies: 9
Views: 678

Re: Mutual Funds and Compound Interest

I'm no expert by any means, but I'll take a stab at answering your question. Stock mutual funds don't compound exactly like say an interest bearing account, but they are in effect compounding. If a stock has earning of say $1.00 and earning are growing at 10%, then the next year earnings should be $...
by Abe
Fri Apr 24, 2015 5:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Mutual Funds and Compound Interest
Replies: 9
Views: 678

Re: How does bank pay car dealer?

Not sure what you mean by, "how does the bank end up with the full $20k?" If the car price is $20k and you pay $10k down then the bank only loans the difference of $10K. Where I live, you would get the title but it would show the bank as the lien holder until loan is paid in full.
by Abe
Fri Apr 24, 2015 11:20 am
 
Forum: Personal Finance (Not Investing)
Topic: How does bank pay car dealer?
Replies: 4
Views: 417

Re: Collecting: A Hobby First, Investment Second

stemikger wrote:Hey it could be worse, this family lost $100K on Beanie Babies and even made a short documentary about it.


That is very sad.
by Abe
Sat Apr 18, 2015 11:43 am
 
Forum: Investing - Theory, News & General
Topic: Collecting: A Hobby First, Investment Second
Replies: 33
Views: 2874

Re: mandatory 17% tip at a buffet

A tip is not mandatory. They may call it a tip; I would call it a service fee.
by Abe
Sat Apr 18, 2015 10:16 am
 
Forum: Personal Consumer Issues
Topic: mandatory 17% tip at a buffet
Replies: 32
Views: 3528

Re: The $1 Million Goal: Source of Motivation or Discouragem

I think there is way too much emphasis on income on this thread. It's not how much you make, it's how much you keep.
by Abe
Sun Apr 12, 2015 5:48 pm
 
Forum: Investing - Theory, News & General
Topic: The $1 Million Goal: Source of Motivation or Discouragement?
Replies: 172
Views: 15884

Re: Rental Real Estate beats bonds anytime

I've had rental property (houses) for years. Yes, the income is much better than bonds, but they are two different animals. Bonds are passive. Rentals are not. I have a house right now that I've been trying to get a non-paying tenant out for almost three months. When I do get them out, I'm sure I'll...
by Abe
Sat Apr 11, 2015 4:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Rental Real Estate beats bonds anytime
Replies: 13
Views: 1322

Re: explanation of interest rates and bonds

Others have explained how this works. Think of it like a seesaw with interest rate on one end and bond price on the other end. When one end goes up, the other end goes down. :beer
by Abe
Sat Apr 11, 2015 10:37 am
 
Forum: Investing - Help with Personal Investments
Topic: explanation of interest rates and bonds
Replies: 6
Views: 741

Re: A Little Surprise at the Social Security Office

Same thing happened to me. There was a year about 20 years back that showed no earnings on my SS records. The lady at the SS office said it would not affect the amount of my SS check, but I still got it corrected.
by Abe
Wed Apr 08, 2015 10:26 am
 
Forum: Personal Finance (Not Investing)
Topic: A Little Surprise at the Social Security Office
Replies: 17
Views: 3149

Re: Do you think Ric Edelman is correct, never pay down mort

I would be leery of anyone who advocates "never".
by Abe
Sun Apr 05, 2015 4:37 pm
 
Forum: Investing - Theory, News & General
Topic: Do you think Ric Edelman is correct, never pay down mortgage
Replies: 209
Views: 16652

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: 1000

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: 5462

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: 12612

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: 7233

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: 3931

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: 3931

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: 7233

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: 4372

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: 5012

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: 5012

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: 18139

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: 4093

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: 4093

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: 4093

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: 2137

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: 728

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: 10866

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: 21696

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: 21696

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: 21696

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: 1755

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: 1755

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: 4388

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: 1463

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: 1281

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: 10248

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: 6553

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: 28126

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: 4082

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: 4082

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: 4082

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: 2271

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: 55
Views: 3817
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