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Re: How did you start up your small business?

Every time a client of mine (I am a business consultant) mentions the word franchise, I make sure they realize it is not always an instant cash cow. There are many horror stories out there along with the huge successes.
by TerryDMillerMBA
Thu Oct 24, 2013 11:53 am
 
Forum: Personal Finance (Not Investing)
Topic: How did you start up your small business?
Replies: 18
Views: 2087

Re: Keep going with MBA (1/3 done)

The school is AACSB certified but not a common known or ivy league but my undergrad was from the University of Michigan which is a top school especially locally. This MBA probably won't do much for you. An MBA from Joe Random University is far less prestigious than an undergrad degree from U.Michig...
by TerryDMillerMBA
Thu Jul 18, 2013 2:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Keep going with MBA (1/3 done)
Replies: 29
Views: 2209

Re: Poll: How much cash do you carry?

There are a few places I know of in NYC with a minimum...isn't this against the credit card company regulations? I didn't think they were supposed to do this, but never had the impulse to say anything It used to be illegal, but the last major credit card legislation allows businesses to have minimu...
by TerryDMillerMBA
Sun Jun 16, 2013 12:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: How much cash do you carry?
Replies: 103
Views: 5775

Re: Determining annual return

I know your question is about the annual return. Yes, it is somewhere in the neighborhood of what you are talking about. This SCREAMS that it is some type of con/scam. At a MINIMUM, the person presenting this to you is greatly minimizing the level of risk of the venture. Returns of that level don't ...
by TerryDMillerMBA
Fri Jun 14, 2013 6:46 am
 
Forum: Investing - Help with Personal Investments
Topic: Determining annual return
Replies: 3
Views: 317

Re: Poll: How much cash do you carry?

One of my Big Complaint with ATMs and cash is the freaking ABSENCE of fifty dollar bills. This is a separate topic so don't get me started... I remember when we finally got to the point where they phased out $5 minimum withdrawals. There was one bank ATM that still had $5, and I would hit that. The...
by TerryDMillerMBA
Thu Jun 13, 2013 4:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: How much cash do you carry?
Replies: 103
Views: 5775

Re: New Investor Advice & Input

1) The corporation requires more paperwork, and, depending on where you are located, may require an increase in fees to stay active as a business entity in your state. 2) through 5) When I had a question posed like this, I thought this was the best presentation on the SEP vs. individual 401K situati...
by TerryDMillerMBA
Mon Jun 10, 2013 6:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Investor Advice & Input
Replies: 4
Views: 381

Re: Role of a Notary

"although they do have the right to refuse to notarize if they feel there is a fraud of some sort being committed." And how could they, in good conscience, say that they were satisfied that there is no element of fraud occurring when they can't read the foreign language of the document? E...
by TerryDMillerMBA
Sat May 25, 2013 3:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Role of a Notary
Replies: 10
Views: 1247

Re: Role of a Notary

"although they do have the right to refuse to notarize if they feel there is a fraud of some sort being committed." And how could they, in good conscience, say that they were satisfied that there is no element of fraud occurring when they can't read the foreign language of the document? ED...
by TerryDMillerMBA
Fri May 24, 2013 8:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Role of a Notary
Replies: 10
Views: 1247

Re: Check for abandoned property -- worked twice for me

For one family member, I found an old utility deposit that was being returned (low three digits). I mailed the form for him (disabled senior citizen). For myself, I found enough for a pizza and pop from some rebate. $till mine, so I mailed the form in. It is worth it to check. I also used http://www...
by TerryDMillerMBA
Mon Apr 22, 2013 3:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Check for abandoned property -- worked twice for me
Replies: 34
Views: 3681

Re: Which documents should not be stored electronically?

Anything with a stick-on seal or any embossing
Many things with official stamps (some agencies don't care, while others want to see original ink from the stamp(s))
by TerryDMillerMBA
Wed Apr 03, 2013 8:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Which documents should not be stored electronically?
Replies: 5
Views: 786

Re: Capital One Fraud Dept called me. Closed cc account

Good that you are OK. That company is blacklisted/flagged in their computer system. Fraudsters test card information through them, and then try to charge other things if all goes well. EDIT: When credit card fraudsters make the mistake of testing cards in person (gas stations, etc.) they get on came...
by TerryDMillerMBA
Tue Mar 26, 2013 5:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Capital One Fraud Dept called me. Closed cc account
Replies: 24
Views: 3923

Re: can't pay my taxes

I am speaking from DIRECT experience, having dealt with this in the 90s: Follow the advice from the poster above as far as filing ON TIME, and filing the extension. These steps cost you nothing. If you need to do an installment agreement, then you could file that form later. I don't know how much yo...
by TerryDMillerMBA
Mon Mar 25, 2013 7:52 am
 
Forum: Personal Finance (Not Investing)
Topic: can't pay my taxes
Replies: 12
Views: 2188

Re: Mark Cuban on Cash

As I recall, Mark Cuban sold an internet company at the heighth of the Internet Bubble. I don't think his company was even profitable. He may not really be that great of an investor or that great of a businessman. He might have just been lucky. I would rather listen to someone with a better track r...
by TerryDMillerMBA
Mon Mar 25, 2013 7:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Mark Cuban on Cash
Replies: 24
Views: 3958

Re: LLC v S Corp, control and taxes

You can choose to have an LLC taxed as an S Corp. There are different regulatory/reporting requirements for LLCs and S Corps. My understanding is that S Corps require more ongoing paperwork to run than do LLCs. It shouldn't affect your tax situation, though. True. Sub-S Corps require infinitely mor...
by TerryDMillerMBA
Thu Mar 21, 2013 2:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: LLC v S Corp, control and taxes
Replies: 25
Views: 1953

Re: LLC v S Corp, control and taxes

You can choose to have an LLC taxed as an S Corp. There are different regulatory/reporting requirements for LLCs and S Corps. My understanding is that S Corps require more ongoing paperwork to run than do LLCs. It shouldn't affect your tax situation, though. True. Sub-S Corps require infinitely mor...
by TerryDMillerMBA
Tue Mar 19, 2013 4:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: LLC v S Corp, control and taxes
Replies: 25
Views: 1953

Re: How to prevent others from copying my self-published boo

There is NOTHING to prevent this. There are measures you can take to slow people down who would do this, but there is NO sure-fire security. That being said, just be glad that you have reaped the benefits thus far without any visible infringement. (I am assuming you already availed yourself of any m...
by TerryDMillerMBA
Thu Mar 07, 2013 2:12 pm
 
Forum: Personal Consumer Issues
Topic: How to prevent others from copying my self-published book?
Replies: 17
Views: 1696

Re: Mathematicians or statisticians here? Seeking your advic

You're more than smart enough. Most mathematicians (hell, even doctors, engineers, and lawyers) AREN'T geniuses. Just very, very bright, and possessing at least some level of personal discipline. Your IQ is genius-level. Your horsepower in your engine is fine. Sit back, and be honest with yourself. ...
by TerryDMillerMBA
Thu Mar 07, 2013 2:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mathematicians or statisticians here? Seeking your advice
Replies: 66
Views: 5888

Re: Suze Orman 100% equities

I heared Ric Edelman say awhile back that Orman herself does not invest in the market though she may recommend it. She has no need to take risk. I contacted one of her "people" to start negotiations for an appearance/seminar for women. $30,000, plus expenses for two assistants. I don't kn...
by TerryDMillerMBA
Tue Nov 20, 2012 6:27 am
 
Forum: Investing - Help with Personal Investments
Topic: Suze Orman 100% equities
Replies: 40
Views: 4606

Re: Young guy wanting to start investing - unsure of where t

I will focus on the lifestyle issues. If you don't contribute towards your household, START NOW. (I don't know your parents' financial situation. I would guess that they "don't need it." But that really isn't the point. You always should contribute to the household of where you are, financ...
by TerryDMillerMBA
Mon Oct 29, 2012 6:24 am
 
Forum: Investing - Help with Personal Investments
Topic: Young guy wanting to start investing - unsure of where to st
Replies: 6
Views: 519

Re: Question about personal rate of return

I would say that posting 0 when the actual result is N/A is an IT glitch. *In this case N/A = not applicable Most definitely. I have a background in all of the related disciplines (software engineering/IT, business, finance), and it really would make me "mad" to see this from a team of wh...
by TerryDMillerMBA
Mon Oct 01, 2012 2:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Question about personal rate of return
Replies: 13
Views: 990

Re: buy and hold is dead?

I would have to hear it from someone with little or no agenda, TBH.
by TerryDMillerMBA
Tue Sep 18, 2012 4:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: buy and hold is dead?
Replies: 15
Views: 2170

Re: Best small Biz Retirement plan?

For a concise comparison of SIMPLE IRA vs. SEP IRA vs. 401k see here . It looks like SIMPLE is the way to go. Thank you so much for that link. Sometimes my clients get to the point where they are thinking of these plans for their small business, and they start off by asking me my opinion. I can hav...
by TerryDMillerMBA
Mon Sep 17, 2012 11:45 am
 
Forum: Investing - Help with Personal Investments
Topic: Best small Biz Retirement plan?
Replies: 3
Views: 495

Re: Found $100 Bill at Walmart

Some years ago I realized one Saturday morning that my wallet was missing. It wasn't in the car so I knew I must have lost it at the grocery store the night before. I got out my list of credit card phone numbers, then without much hope decided to call the store first. The manager said, "Was it...
by TerryDMillerMBA
Thu Jan 12, 2012 10:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Found $100 Bill at Walmart
Replies: 136
Views: 8504

Re: Found $100 Bill at Walmart

I would've put the $100 bill in my pocket and left the store. I don't see how that is somehow "dishonest." How much does it have to be to become dishonest? $500? $5,000? $10,000? If the ownership is easily determined, it's stealing even if it's a penny. If the ownership is not conclusive,...
by TerryDMillerMBA
Thu Jan 12, 2012 10:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Found $100 Bill at Walmart
Replies: 136
Views: 8504

Re: Mom has pension & $200k --> pay off mortgage? Get annuit

I noticed some misinformation about fixed immediate annuities. Most people, when they hear the word "annuity," automatically think life-time payments. However, just like insurance, you can also purchase annuities that payout only over a time frame, e. g., a 10-year term. Make sure Mom is c...
by TerryDMillerMBA
Thu Jan 12, 2012 9:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Mom has pension & $200k --> pay off mortgage? Get annuity?
Replies: 31
Views: 1932

The public's perception of how sound (or unsound) the company's actions were that lead to the split could affect the share price in the short term. Buy-and-holders would not care about these short-term fluctuations, though.
by TerryDMillerMBA
Fri Jul 22, 2011 12:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Duke Energy Reverse Split
Replies: 4
Views: 2312

I called Fidelity and they said that internally they calculate number of shares to 5 decimal places and round off the rest. They only display 3 on the account info. website. It sounds like I would be better off entering the NAV and total purchase price, and let Quicken calculate the number of share...
by TerryDMillerMBA
Mon Jul 18, 2011 8:27 am
 
Forum: Investing - Help with Personal Investments
Topic: smallest fraction of a mutual fund share you can buy?
Replies: 11
Views: 2644

Ask for the TAX RETURNS.

(In cash businesses, while it is illegal, it is VERY COMMON to skim, which is under-reporting income. Tell him you don't care about his business with the IRS; you just want to determine the true past performance of the business.)
by TerryDMillerMBA
Sun Jul 17, 2011 5:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Anyone have experince owning / operating coin op car wash?
Replies: 6
Views: 1275

Jimmy likes almonds Jimmy eats several mouthfuls a day Jimmy thinks the Munchkin Man should continue to eat his almonds Jimmy also recommends eating raw hulled sunflower seeds as well as raw almonds Jimmy notices that this combination gives Jimmy a lot of gastrointestinal turbo action well-played, ...
by TerryDMillerMBA
Tue Jul 12, 2011 11:41 am
 
Forum: Personal Consumer Issues
Topic: Raw Almonds
Replies: 84
Views: 6677

The rentals would be just as much work, but it may be a different kind of work.

I would agree that there "COULD" be more upside in a well-managed small business, but either choice can work.
by TerryDMillerMBA
Thu Jul 07, 2011 3:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Small Business vs. Rental Property
Replies: 4
Views: 683

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