Search found 1470 matches

by Abe
Mon Jan 23, 2017 4:29 pm
Forum: Personal Consumer Issues
Topic: American Greed new season kicks off on Saturday
Replies: 10
Views: 1393

Re: American Greed new season kicks off on Saturday

Moral of the story is do not be greedy and look for high returns from friendly folks. Buy Vanguard Total Stock Market index instead, and wait until the long term. Every once in a while, the thought occurs to me: Could Vanguard be a ponzie scheme? Seriously though, the show makes me more aware of al...
by Abe
Mon Jan 23, 2017 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage in 7 years using HELOC?
Replies: 14
Views: 1730

Re: Pay off mortgage in 7 years using HELOC?

This sounds like when someone borrows money to pay off their credit card debt (consolidate their debt). What difference does it make? They still owe it. People are always looking for an easy way out. There are no magic tricks to get out of debt.
by Abe
Fri Jan 20, 2017 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: ok to pull plug and retire?
Replies: 51
Views: 6693

Re: ok to pull plug and retire?

As Bruce Springsteen sang, "poor man wanna be rich, rich man wanna be king." Those contemplating retirement with $1 million wish they had $2 million. Those with $2 million, wish they had $3 million. No matter how much we have, we wish we had a bit more to ease the analysis and decision. R...
by Abe
Fri Jan 20, 2017 10:36 am
Forum: Investing - Help with Personal Investments
Topic: Criticize our retirement portfolio
Replies: 6
Views: 673

Re: Criticize our retirement portfolio

mcluhan wrote:It seems like you may run out of money a little bit too soon with only 40% in equities. Does anyone else think so? I could be wrong.


Depends on how much money they have.
by Abe
Fri Jan 20, 2017 10:27 am
Forum: Investing - Help with Personal Investments
Topic: Criticize our retirement portfolio
Replies: 6
Views: 673

Re: Criticize our retirement portfolio

Looks good to me. I don't see anything to criticize. You are 60 years old and decided to take less risk. Nothing wrong with that.
by Abe
Wed Jan 18, 2017 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: If I decide to overpay on mortgage payment
Replies: 45
Views: 4306

Re: If I decide to overpay on mortgage payment

The amortization schedule you receive when your loan is originated assumes all payments are made on the due date and for the same payment amount. When you make an extra principal payment, this alters your amortization schedule. It's very easy to recalculate your loan using a financial calculator. Ju...
by Abe
Mon Jan 16, 2017 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: If I decide to overpay on mortgage payment
Replies: 45
Views: 4306

Re: If I decide to overpay on mortgage payment

Every time you make a mortgage payment you are paying interest on the principal balance for the previous month. The remainder of the payment is deducted from the principal balance. You would not want to pay interest in advance, but as others have said, you can pay additional principal, which will s...
by Abe
Mon Jan 16, 2017 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: If I decide to overpay on mortgage payment
Replies: 45
Views: 4306

Re: If I decide to overpay on mortgage payment

Every time you make a mortgage payment you are paying interest on the principal balance for the previous month. The remainder of the payment is deducted from the principal balance. You would not want to pay interest in advance, but as others have said, you can pay additional principal, which will su...
by Abe
Wed Jan 11, 2017 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Interest Rate Calculation
Replies: 22
Views: 1157

Re: Interest Rate Calculation

At the end of 60 months you will have $60,604 and your original investment was $50k, so your return (interest rate) on the $50k for 60 months is 3.85%. I think. :happy Plenty close enough. =RATE(60, 0, 50000, -60603.77 ) * 12 returns 3.853% compounded monthly or =RATE(5, 0, 50000, -60603.77) return...
by Abe
Wed Jan 11, 2017 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Interest Rate Calculation
Replies: 22
Views: 1157

Re: Interest Rate Calculation

At the end of 60 months you will have $60,604 and your original investment was $50k, so your return (interest rate) on the $50k for 60 months is 3.85%. I think. :happy
by Abe
Sat Jan 07, 2017 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: What monetary value has your education provided you?
Replies: 107
Views: 5325

Re: What monetary value has your education provided you?

I was reluctant to post, but maybe there are others who were not fortunate enough to get a college degree. If so, it's not the end of the world. There are plenty of opportunities out there for you. I was not able to get a degree because of a learning disability. I thought I was a complete failure. T...
by Abe
Thu Jan 05, 2017 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Could this kind of mortgage be possible?
Replies: 3
Views: 348

Re: Could this kind of mortgage be possible?

I don't think a mortgage company would make a loan with only 25% of the value of the house as security. They would want to be able to foreclose on the the house 100% in case of default. It would not be in the best interest of the owner to do this. If you defaulted on the loan he could lose his house...
by Abe
Thu Jan 05, 2017 4:38 pm
Forum: Personal Consumer Issues
Topic: How much is your cell phone bill?
Replies: 256
Views: 21462

Re: How much is your cell phone bill?

I have a Go Phone pre-pay plan. I pay $100 per year for 1000 minutes. At this time I have $326 account balance because I don't even use all the 1000 minutes. The last couple of times I renewed they didn't charge me anything to renew for one year because I had a high balance. My only complaint is tha...
by Abe
Wed Jan 04, 2017 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: You have 5-10 minutes to teach someone about personal finance
Replies: 54
Views: 3959

Re: You have 5-10 minutes to teach someone about personal finance

I give them the SIC formula: Save, Invest and Compound. :happy
by Abe
Mon Dec 26, 2016 10:39 am
Forum: Personal Consumer Issues
Topic: If you could only choose one [car] to keep...?
Replies: 26
Views: 1963

Re: If you could only choose one [car] to keep...?

Given fastidious maintenance, the Accord will far outlast the Chevy. How about sell both and get a Toyota Corolla or Camry which will serve you faithfully until you are no longer able to drive. +1, or a RAV4 or Highlander depending on your needs. And, I'm not even a loyal Toyota fanboy. I would get...
by Abe
Sun Dec 25, 2016 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Should I contact my landlady for lease renewal ?
Replies: 18
Views: 2309

Re: Should I contact my landlady for lease renewal ?

I have rental properties. My leases generally run for one year. After that, they automatically go to month to month. I usually just let them go to the month to month unless the tenant wants to renew the lease. If I do renew the lease, I just type up something like this: I (landlord name) and (tenant...
by Abe
Fri Dec 23, 2016 3:52 pm
Forum: Investing - Theory, News & General
Topic: Financial Independence is not the Holy Grail
Replies: 85
Views: 9013

Re: Financial Independence is not the Holy Grail

I can live with FI. KlangFool Yes, of course, I totally agree. One of the definitions of secure is: free from risk or loss. I'm just saying that we may feel secure by being financially independent, but we will never be totally secure because we don't know what the future holds. There have been a lo...
by Abe
Fri Dec 23, 2016 2:47 pm
Forum: Investing - Theory, News & General
Topic: Financial Independence is not the Holy Grail
Replies: 85
Views: 9013

Re: Financial Independence is not the Holy Grail

KlangFool wrote: We only have financial security when we achieve financial independence.
KlangFool


I don't know if we ever reach absolute financial security. Achieving financial independence is about as close as we can get.
by Abe
Fri Dec 23, 2016 1:19 pm
Forum: Investing - Theory, News & General
Topic: Financial Independence is not the Holy Grail
Replies: 85
Views: 9013

Re: Financial Independence is not the Holy Grail

The fun is in the trip. After you get there, it's kind of boring. :happy
by Abe
Fri Dec 23, 2016 12:25 pm
Forum: Personal Consumer Issues
Topic: If you could only choose one [car] to keep...?
Replies: 26
Views: 1963

Re: If you could only choose one to keep...?

Even though it's a little older, I think I would keep the Honda, mainly because of the lower mileage.
by Abe
Mon Dec 19, 2016 2:00 pm
Forum: Personal Consumer Issues
Topic: Water Heater Install $1,800!
Replies: 50
Views: 4868

Re: Water Heater Install $1,800!

I have rental properties. I get hot water heaters installed for $100 labor plus cost of heater. You probably can't get it done that cheap, but I would think anything over $250 labor is too much. Ninety nine percent of the time, you will come out better buying the heater yourself and then paying some...
by Abe
Fri Dec 16, 2016 1:38 pm
Forum: Investing - Theory, News & General
Topic: Indexing: When being 'average' is a lot better than average
Replies: 19
Views: 1802

Re: Indexing: When being 'average' is a lot better than average

MI_bogle wrote:Most people are not "scratch golfers". Par refers to the average scratch golfer, not the average golfer.


So a par player is the average expert player, not the average average player. :happy
by Abe
Fri Dec 16, 2016 11:28 am
Forum: Investing - Theory, News & General
Topic: Indexing: When being 'average' is a lot better than average
Replies: 19
Views: 1802

Re: Indexing: When being 'average' is a lot better than average

I know absolutely nothing about golf, but when I look up the definition of par, it says: Par: An amount or a level considered to be average So, by definition par is in the mid range. When I think of a football player or a basketball player as being average, I think not too good, not too bad, you kno...
by Abe
Thu Dec 15, 2016 12:08 pm
Forum: Investing - Theory, News & General
Topic: Are bond funds really low-risk?
Replies: 43
Views: 3515

Re: Are bond funds really low-risk?

Are bond funds really low risk? McGilicutty: You have asked a question without a "yes" or "no" answer. It is important to understand that there are many different types of bond funds. Some are very safe (Short-term treasury, high-quality short-term, etc). Some are very volitile ...
by Abe
Wed Dec 14, 2016 6:04 pm
Forum: Investing - Theory, News & General
Topic: McDonald's Stock
Replies: 103
Views: 8896

Re: McDonald's Stock

Most fast food places do not display their lower priced (lower profit) items. If they do, it will be hard to find. For a while, my local Kentucky Fried Chicken place had 3 pieces of chicken for $2.49, but there was no sign displaying that price. I had to ask for it. On the other hand, it's real easy...
by Abe
Wed Dec 14, 2016 11:13 am
Forum: Investing - Help with Personal Investments
Topic: Retirement with $8M in investments
Replies: 164
Views: 19082

Re: Retirement with $8M in investments

I don't have $14 million, but I understand how the OP feels when he says, "Living in the SF bay area in a house valued at about $4M, and all this does not make us feel wealthy with a net worth over $14M (including a rental house)." This reminds me of an essay by Robert Hastings titled &quo...
by Abe
Tue Dec 13, 2016 10:29 am
Forum: Personal Consumer Issues
Topic: Fountain Pens - Do you use one?
Replies: 104
Views: 6272

Re: Fountain Pens - Do you use one?

MP173 wrote:The railroad pencils are quite expensive on the market, usually $15 - $25 if sold by railroad collectors.
Ed


Good hobby. I also collect old pens and pencils. Anything railroad is good if it's old.
by Abe
Sun Dec 11, 2016 10:48 am
Forum: Personal Finance (Not Investing)
Topic: buying land without realtor- advice
Replies: 25
Views: 2248

Re: buying land without realtor- advice

Where I live, at one time, you had a choice between an attorneys opinion or title insurance. Most everybody now just goes with title insurance. I would rather have title insurance. The title company will do a title search anyway before issuing the title policy, and the title insurance is good for as...
by Abe
Sun Dec 11, 2016 8:05 am
Forum: Personal Finance (Not Investing)
Topic: buying land without realtor- advice
Replies: 25
Views: 2248

Re: buying land without realtor- advice

I'm not a lawyer, but I'll try to answer your questions. The owner guarantees a clear title to the buyer of the property with a warranty deed. Title insurance offers financial protection against title problems that might not be found in the public records, are inadvertently missed in the title searc...
by Abe
Sat Dec 10, 2016 8:40 pm
Forum: Personal Consumer Issues
Topic: Frying pan recommendations
Replies: 53
Views: 3173

Re: Frying pan recommendations

If you like cast iron and want something smooth, get a carbon steel frying pan. It works the same way as cast iron. In fact, it's pretty much the same material, just not cast. You have to season it and you can't put it in the dishwasher. They cook great. Check the reviews on Amazon. You sold me. I ...
by Abe
Sat Dec 10, 2016 3:16 pm
Forum: Investing - Theory, News & General
Topic: McDonald's Stock
Replies: 103
Views: 8896

Re: McDonald's Stock

I really hated to see McDonalds discontinue the Big N’ Tasty burger for a dollar. It was pretty good. I saw a sign in front of a local McDonalds saying "McRib is back". I thought if they brought it back, it must be good so I ordered one. I took one bite and it was awful. I offered it to th...
by Abe
Thu Dec 08, 2016 2:24 pm
Forum: Personal Consumer Issues
Topic: Frying pan recommendations
Replies: 53
Views: 3173

Re: Frying pan recommendations

We love cast iron, but we don't use it all the time because my wife does most of the cooking and it's a little heavy for her. You can get new Lodge brand cast iron cookware at Walmart, but I prefer the old cast iron. You can find the old CI at flea markets, yard sales or thrift stores. https://www.y...
by Abe
Thu Dec 08, 2016 10:54 am
Forum: Investing - Theory, News & General
Topic: McDonald's Stock
Replies: 103
Views: 8896

Re: McDonald's Stock

Investing in McDonalds as well as other stocks is pure speculation, Been there, done that. I believe in the concept of indexing, With TSM I already own some shares of McDonalds. Before there were Bogleheads or the internet for that matter, I invested in individual stocks, mostly blue chip companies...
by Abe
Thu Dec 08, 2016 10:19 am
Forum: Investing - Theory, News & General
Topic: McDonald's Stock
Replies: 103
Views: 8896

Re: McDonald's Stock

No, I am not a stockholder, but I go there occasionally for their sausage and biscuit and senior coffee for less than $2. Very good. :beer
by Abe
Tue Dec 06, 2016 5:28 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement with $8M in investments
Replies: 164
Views: 19082

Re: Retirement with $8M in investments

What works for me is to think not in terms of "wealthy" but in terms of "financial independence". It's easier to measure. Edited to add: Really, what is the benefit of feeling wealthy other than to sit around and gloat about it. And if you portray yourself as being wealthy to oth...
by Abe
Tue Dec 06, 2016 5:04 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement with $8M in investments
Replies: 164
Views: 19082

Re: Retirement with $8M in investments

Also, at what net worth do people feel wealthy? This is a subjective question, but in Silicon Valley its just crazy with the wealth some people have generated. The last sentence in the OP's post says a lot. As long as you compare yourself to others, you will never have enough. The keeping up with t...
by Abe
Tue Dec 06, 2016 3:54 pm
Forum: Personal Consumer Issues
Topic: Learning an instrument as an adult?
Replies: 123
Views: 9852

Re: Learning an instrument as an adult?

When I was a kid, my mother gave me a choice: piano or tap dancing lessons. I grudgingly took the tap dancing lessons. What a joke that was. There was a recital and my cousins never let me forget it. Now I wish I had taken the piano lessons. A few years ago, I bought a cheapo Honer Pocket Pal harmon...
by Abe
Mon Dec 05, 2016 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: buying land without realtor- advice
Replies: 25
Views: 2248

Re: buying land without realtor- advice

1) Draw up a sales contract and you and the seller sign. This just spells out the terms and conditions that you and the seller have agreed to. 2) Have the seller provide you with an owners title insurance policy for at least the amount of the sale price. You can get this from a local title company. ...
by Abe
Fri Dec 02, 2016 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Feeling like you've "made it"
Replies: 107
Views: 10613

Re: Feeling like you've "made it"

We save aggressively, have a paid off mortgage, drive paid for cars, don't use credit cards, live below our means, invest in low cost index funds, we have college savings for our 3 kids. The person next to me at work has a big mortgage, zero savings, a leased $70k BMW, no plans to save for their ki...
by Abe
Thu Dec 01, 2016 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: Math on pre-paying a loan
Replies: 11
Views: 1249

Re: Math on pre-paying a loan

Thanks for the help. I think I figured it out. If I look at an amortization schedule and find out what month I'm on, if I make a prepayment of the following months principal, I essentially skip that scheduled interest and move on to the next payment, correct? If I make 5 principal payments worth, I...
by Abe
Thu Dec 01, 2016 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Math on pre-paying a loan
Replies: 11
Views: 1249

Re: Math on pre-paying a loan

I think understand if I prepay a loan at 5% interest, that I save $.05 for every dollar I prepay in interest. What I'm unclear on, is if that adds up for the number of years left on the loan. If there are 5 years left, is my interest savings $.25 for each dollar prepaid that month, or $.05? As othe...
by Abe
Thu Dec 01, 2016 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Feeling like you've "made it"
Replies: 107
Views: 10613

Re: Feeling like you've "made it"

I just want to feel like we have enough savings and/or human capital to weather any economic storm we might encounter. And I'm wondering if maybe I'll just never get there in my own mind. I think the overwhelming majority of the population never gets there, unless they are in denial. The best most ...
by Abe
Mon Nov 28, 2016 1:00 pm
Forum: Personal Consumer Issues
Topic: What is your favorite consumer product?
Replies: 246
Views: 27462

Re: What is your favorite consumer product?

Don't know if it classifies as a consumer product, but My Texas Instrument BAII Plus Financial Calculator. Use it almost every day.
by Abe
Mon Nov 28, 2016 11:17 am
Forum: Personal Consumer Issues
Topic: Shopping and Time Vs. Money
Replies: 20
Views: 2011

Re: Shopping and Time Vs. Money

squirm wrote:I'd assume as one gets older the value of time goes up.


Yes, it's a supply and demand thing. :happy
by Abe
Mon Nov 28, 2016 11:14 am
Forum: Personal Consumer Issues
Topic: Shopping and Time Vs. Money
Replies: 20
Views: 2011

Re: Shopping and Time Vs. Money

I recently bought a new car. I had planned to use the internet technique by emailing several dealerships and asking for a quote. Before I could do that, I had to go to a dealership and pick out the car I wanted. I was at the fourth dealership when my wife found exactly what she wanted. The manufactu...
by Abe
Sun Nov 27, 2016 5:45 pm
Forum: Investing - Help with Personal Investments
Topic: Investing in the 80's when CD rates were 17%?
Replies: 74
Views: 7561

Re: Investing in the 80's when CD rates were 17%?

Yes, I remember when rates were that high. I had CD's back then, but for some reason, I only went out to one year term on them. :oops: Now I would be real happy to get 5%.
by Abe
Fri Nov 25, 2016 11:18 am
Forum: Investing - Theory, News & General
Topic: Approaching the S&P 500 like Benjamin Graham
Replies: 13
Views: 2262

Re: Approaching the S&P 500 like Benjamin Graham

I have started reading Grahams The Intelligent Investor many times. I have never been able to get through it.
by Abe
Tue Nov 22, 2016 4:50 pm
Forum: Personal Consumer Issues
Topic: Fountain Pens - Do you use one?
Replies: 104
Views: 6272

Re: Fountain Pens - Do you use one?

Go here to solve leaky pen problem. :happy

https://www.amazon.com/s/ref=nb_sb_noss ... +protector
by Abe
Mon Nov 21, 2016 5:55 pm
Forum: Personal Consumer Issues
Topic: Fountain Pens - Do you use one?
Replies: 104
Views: 6272

Re: Fountain Pens - Do you use one?

If you like a pen that writes a bit like a fountain pen but without the problems of a FP, you might try the Pilot Precise V5 Stick Rolling Ball Pens, Extra Fine Point. I like it in blue ink. $9.13 for a box of 12 pens on Amazon https://www.amazon.com/Pilot-Precise-Stick-Rolling-35335/dp/B00006IEBJ/r...
by Abe
Sun Nov 20, 2016 1:18 pm
Forum: Personal Consumer Issues
Topic: Fountain Pens - Do you use one?
Replies: 104
Views: 6272

Re: Fountain Pens - Do you use one?

I have a box full of old fountain pens I picked up at flea markets and estate sales. I have a few new ones that I use occasionally, a ROTRING 600 SILVER HEXAGONAL and a Sheaffer Targa. I have a couple of the old Parker 51's that I really like to write with. They are a little more trouble, but nothin...

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