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by Abe
Wed May 27, 2015 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Friends/Family that don't invest!
Replies: 87
Views: 8412

Re: Friends/Family that don't invest!

Like clockwork, whenever the market was peaking, coworkers and friends (they all know I invest) out of nowhere would ask me about getting into the market and what funds or stocks to buy. This happened a lot to me in 1998, 2000, and 2006. At bad times, people will tell me how they or their parents w...
by Abe
Tue May 26, 2015 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: Friends/Family that don't invest!
Replies: 87
Views: 8412

Re: Friends/Family that don't invest!

Have you encountered friends/family that don't save for retirement and when you ask why they respond with something like "how do you know you won't lose it?" No. My thinking is that if you spend all your monthly income, THEN you've LOST IT. Gone. Nowhere to be found. Can't retire. Can't a...
by Abe
Tue May 26, 2015 5:09 pm
Forum: Personal Consumer Issues
Topic: Do-it-yourself handy person: How did you learn?
Replies: 25
Views: 2375

Re: Do-it-yourself handy person: How did you learn?

I had three old push lawn mowers that have been in storage for three years. I tried everything, but I could not get them started. I asked a friend who is a good mechanic. He told me to get a can of Seafoam and pour some in the carburetor. It worked great and I got all three mowers running. I sold tw...
by Abe
Tue May 26, 2015 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Friends/Family that don't invest!
Replies: 87
Views: 8412

Re: Friends/Family that don't invest!

I have in laws (seniors, like me) who do invest, but it is how they have invested which was disturbing. 25 years ago we were talking about investing and my plan to retire in a few years. They didn't know how they could. They didn't like my way of low cost investing. They had latched onto one of the...
by Abe
Tue May 26, 2015 9:55 am
Forum: Investing - Theory, News & General
Topic: Stemikger "Volatility is far from synonymous with risk."
Replies: 62
Views: 3560

Re: Stemikger "Volatility is far from synonymous with risk."

Risk is difficult to define because it means different things to different people. It doesn't make any difference how Warren Buffett defines risk or anyone else for that matter. What is important is how you define risk.
by Abe
Thu May 21, 2015 9:53 am
Forum: Personal Consumer Issues
Topic: Selling old 14k jewelry
Replies: 15
Views: 1148

Re: Selling old 14k jewelry

Overall, I just trusted the process and figured I'd do much better with Midwest than a local "we buy gold jewelry" dealer. You absolutely will do better sending it to Midwest than dealing with a local "we buy gold" dealer. A lot of the "we buy gold " dealers send their...
by Abe
Wed May 20, 2015 8:03 pm
Forum: Personal Consumer Issues
Topic: Selling old 14k jewelry
Replies: 15
Views: 1148

Re: Selling old 14k jewelry

You can get around $104.00 at todays price and assuming the ring weighs 5 grams at Midwest Refineries, 4471 Forest Ave., Waterford, Michigan 48328. I used Midwest Refineries for an odd assortment of gold jewelry which I had no interest in keeping. I really had no idea how much it was worth, but tru...
by Abe
Wed May 20, 2015 5:23 pm
Forum: Personal Consumer Issues
Topic: Selling old 14k jewelry
Replies: 15
Views: 1148

Re: Selling old 14k jewelry

I buy gold. This is the way to calculate it. (spot price / 31.1 x .583 x .92 = Amount buyers get) Todays spot price is $1209.30 per troy oz. There are 31.1 grams of gold in one troy oz. 14k gold contains 58.3% gold. My buyer pays me 92% of the actual gold content so this is roughly what most buyers ...
by Abe
Mon May 18, 2015 12:19 pm
Forum: Investing - Help with Personal Investments
Topic: Time to reach 1M and 2M milestones
Replies: 63
Views: 9330

Re: Time to reach 1M and 2M milestones

Yes, it's true the time to go from 1 million to 2 million should be shorter because after reaching 1 million you have two things working for you: yourself plus 1 million. :happy
by Abe
Thu May 14, 2015 2:47 pm
Forum: Personal Consumer Issues
Topic: I Hate Vacations
Replies: 113
Views: 9177

Re: I Hate Vacations

I pretty much feel the same as the OP. Vacations are a hassle. I've always been self-employed which makes it almost impossible to get away. I think I've had maybe two vacations in the last 50 years and one of them was my honeymoon. :happy So if there's no problem, then there's no need for a solutio...
by Abe
Thu May 14, 2015 2:27 pm
Forum: Personal Consumer Issues
Topic: I Hate Vacations
Replies: 113
Views: 9177

Re: I Hate Vacations

I pretty much feel the same as the OP. Vacations are a hassle. I've always been self-employed which makes it almost impossible to get away. I think I've had maybe two vacations in the last 50 years and one of them was my honeymoon. :happy
by Abe
Fri May 08, 2015 10:24 am
Forum: Personal Finance (Not Investing)
Topic: much ado about coasting (through life)
Replies: 159
Views: 19060

Re: much ado about coasting (through life)

I think you are going through something a lot of us go through. I am much older than you, and I remember thinking much the same way as you when I was around your age. The thing is everything gets boring after a while. I had a friend who always talked about how he was going to spend his time fishing ...
by Abe
Wed May 06, 2015 2:35 pm
Forum: Personal Consumer Issues
Topic: AT&T Uverse Equipment
Replies: 3
Views: 408

Re: AT&T Uverse Equipment

I'm not being sarcastic, but in my experience, you can't believe anything AT&T tells you.
by Abe
Wed Apr 29, 2015 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Need A Good Book for Planning for Retirement
Replies: 11
Views: 1302

Re: Need A Good Book for Planning for Retirement

You might want to check out, "The Bogleheads Guide to Retirement Planning".
by Abe
Wed Apr 29, 2015 9:56 am
Forum: Personal Consumer Issues
Topic: old ways can still be the best ways [percolator]
Replies: 36
Views: 3042

Re: old ways can still be the best ways

If you can handle 20th century inventions, try Chemex. Invented in 1941. Not as old as the percolator, but, IMHO, this new-fangled invention makes a much better cup. And yeah, always need pure maple syrup. That goes without saying. Have you ever tried the Melitta coffee maker? I looks like it uses ...
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: 12020

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 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to sell a used wedding ring?
Replies: 18
Views: 2184

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
Sun Apr 26, 2015 1:46 pm
Forum: Personal Consumer Issues
Topic: Will you buy an Apple Watch?
Replies: 389
Views: 27952

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 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Nice Round Number reached tonight
Replies: 32
Views: 4966

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 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Nice Round Number reached tonight
Replies: 32
Views: 4966

Re: Nice Round Number reached tonight

Congratulations. Mazel Tov :sharebeer
by Abe
Sat Apr 25, 2015 9:50 am
Forum: Investing - Help with Personal Investments
Topic: Mutual Funds and Compound Interest
Replies: 10
Views: 895

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
Fri Apr 24, 2015 5:31 pm
Forum: Investing - Help with Personal Investments
Topic: Mutual Funds and Compound Interest
Replies: 10
Views: 895

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 11:20 am
Forum: Personal Finance (Not Investing)
Topic: How does bank pay car dealer?
Replies: 4
Views: 444

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
Sat Apr 18, 2015 11:43 am
Forum: Investing - Theory, News & General
Topic: Collecting: A Hobby First, Investment Second
Replies: 33
Views: 2965

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 10:16 am
Forum: Personal Consumer Issues
Topic: mandatory 17% tip at a buffet
Replies: 32
Views: 3616

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
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: 16414

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
Sat Apr 11, 2015 4:48 pm
Forum: Investing - Help with Personal Investments
Topic: Rental Real Estate beats bonds anytime
Replies: 13
Views: 1368

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 10:37 am
Forum: Investing - Help with Personal Investments
Topic: explanation of interest rates and bonds
Replies: 6
Views: 767

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
Wed Apr 08, 2015 10:26 am
Forum: Personal Finance (Not Investing)
Topic: A Little Surprise at the Social Security Office
Replies: 17
Views: 3233

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
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: 257
Views: 23728

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

I would be leery of anyone who advocates "never".
by Abe
Fri Mar 27, 2015 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Landlord/Tenant Credit Checks
Replies: 18
Views: 1020

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 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: 5693

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
Thu Mar 26, 2015 10:58 am
Forum: Personal Consumer Issues
Topic: Restaurant tipping
Replies: 200
Views: 13769

Re: Restaurant tipping

This thread demonstrates the problems ingrained in the tipping system.
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: 7599

Re: What Age Did You First Ponder Financial Independence?

In order to reach fruition, you first have to plant the seed. :beer
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: 4274

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 10:54 am
Forum: Personal Consumer Issues
Topic: Splitting a Food Tab on a Combined Birthday Lunch
Replies: 54
Views: 4274

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
Sun Mar 22, 2015 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: What Age Did You First Ponder Financial Independence?
Replies: 74
Views: 7599

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
Sat Mar 21, 2015 10:12 am
Forum: Investing - Theory, News & General
Topic: An inspiring message for Bogleheads
Replies: 56
Views: 4515

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
Thu Mar 19, 2015 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Definition of financial independence?
Replies: 52
Views: 5236

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
Tue Mar 17, 2015 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Definition of financial independence?
Replies: 52
Views: 5236

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
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: 18861

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 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Sell gas station for one dollar
Replies: 48
Views: 4178

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 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Sell gas station for one dollar
Replies: 48
Views: 4178

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: 4178

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
Sat Mar 14, 2015 11:34 am
Forum: Investing - Theory, News & General
Topic: Buffett and Bogle almost on the same page
Replies: 19
Views: 2188

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
Thu Mar 05, 2015 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Break room conversation about investing and Oil
Replies: 9
Views: 746

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 12:32 pm
Forum: Investing - Theory, News & General
Topic: Why don't YOU follow Buffett's advice?
Replies: 122
Views: 11111

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
Wed Mar 04, 2015 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Do you consider mortgage payments as savings?
Replies: 410
Views: 22695

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#...

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