Search found 1194 matches

by Abe
Wed May 04, 2016 11:06 am
Forum: Personal Consumer Issues
Topic: I cannot stop buying... [Investing/Personal Finance Books]
Replies: 44
Views: 4962

Re: I cannot stop buying... [Investing/Personal Finance Books]

Money is just a tool not an end in itself. Speak for yourself. I like money for the sake of money. In video games, I always spent time grinding (where you go out and do the same thing over and over) for the purpose of building wealth. (After you slay the monsters and save the world, what are you go...
by Abe
Tue May 03, 2016 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Recast Mortgage to Improve Cash Flow?
Replies: 4
Views: 337

Re: Recast Mortgage to Improve Cash Flow?

I agree with jharkin and delamer. There is not much benefit recasting.
by Abe
Tue May 03, 2016 2:25 pm
Forum: Personal Consumer Issues
Topic: I cannot stop buying... [Investing/Personal Finance Books]
Replies: 44
Views: 4962

Re: I cannot stop buying... [Investing/Personal Finance Books]

Now, I like accumulating wealth. I enjoy it. My wife gets what she wants, and we go on vacations. My portion of our money goes into investing. I figure that when I die, she can spend it all. I can't wait to see what my "high score" will be! I'm glad you posted that because I feel the same...
by Abe
Tue May 03, 2016 12:25 pm
Forum: Personal Consumer Issues
Topic: I cannot stop buying... [Investing/Personal Finance Books]
Replies: 44
Views: 4962

Re: I cannot stop buying... [Investing/Personal Finance Books]

Since I got the religion, I don't buy so many investing books anymore. Boglehead investing is pretty simple: 1 Develop a workable plan 2 Invest early and often 3 Never bear too much or too little risk 4 Diversify 5 Never try to time the market 6 Use index funds when possible 7 Keep costs low 8 Minim...
by Abe
Sat Apr 30, 2016 2:10 pm
Forum: Personal Consumer Issues
Topic: New A/C for Florida Military Rental
Replies: 14
Views: 1148

Re: New A/C for Florida Military Rental

I recently installed a 3 ton Trane system airconditioner and furnace in a rental I own similar to yours for $3,927.00 total cost.

Edited to add: I see yours requires duct work. Mine already had the duct work. The $3,927.00 price was just for the A/C and furnace and installation.
by Abe
Tue Apr 26, 2016 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Local Major Bank Recommendations
Replies: 16
Views: 950

Re: Local Major Bank Recommendations

Best advice is to use locally owned bank or CU where you can get to know management and they can get to know you. Have had Wells Fargo account for almost 40 years until got fed up with their seeming incompetence and now BofA account but still miss the locally owned bank in which I was a very minori...
by Abe
Tue Apr 26, 2016 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Why have a formal budget?
Replies: 82
Views: 4920

Re: Why have a formal budget?

Dirghatamas wrote: my total expenses have been 1.5-2% of my gross income in the last couple of years and they have always been less than 10% of my gross income for pretty much as long as I can remember.


My expenses were roughly 15% of my taxable income last year, and I thought I was doing good. :happy
by Abe
Tue Apr 26, 2016 10:39 am
Forum: Investing - Theory, News & General
Topic: If I think the market floor is much lower than the ceiling is high...
Replies: 16
Views: 1524

Re: If I think the market floor is much lower than the ceiling is high...

As nisiprius said, the market downside is zero. The market upside is infinite.
by Abe
Tue Apr 26, 2016 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Why have a formal budget?
Replies: 82
Views: 4920

Re: Why have a formal budget?

I never had a budget until a few years ago. Since I've always been self employed, my income was unpredictable. My system was to spend as little as possible, and when my bank account went up enough, I would take money out and invest it. Out of curiosity, I did a spreadsheet budget a few years ago and...
by Abe
Fri Apr 22, 2016 4:38 pm
Forum: Investing - Theory, News & General
Topic: Do you think this is a bad time to enter the market? With the dow at 18,000
Replies: 89
Views: 7324

Re: Do you think this is a bad time to enter the market? With the dow at 18,000

Why is it so hard to invest a lump sum, but easy to hold the same amount and not sell? The end result is the same. If you invest $100k and the market loses 50%, you lose $50k. If you have the same $100k that's been invested for a while and don't sell it and the market loses 50%, you lose the same am...
by Abe
Thu Apr 21, 2016 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Why am I still scared ? Is it actually normal ?
Replies: 59
Views: 6565

Re: Why am I still scared ? Is it actually normal ?

The Station Tucked away in our subconscious is an idyllic vision. We see ourselves on a long trip that spans the continent. We are traveling by train. Out the windows we bring in the passing scene of cars on nearby highways, of children waving at a crossing, of cattle grazing on a distant hillside, ...
by Abe
Thu Apr 21, 2016 1:47 pm
Forum: Investing - Help with Personal Investments
Topic: Question about calculating tax basis
Replies: 6
Views: 413

Re: Question about calculating tax basis

Thanks everyone for your help. Abe
by Abe
Wed Apr 20, 2016 3:49 pm
Forum: Investing - Help with Personal Investments
Topic: Question about calculating tax basis
Replies: 6
Views: 413

Re: Question about calculating tax basis

Just the ordinary........the qualified dividends are contained in the ordinary.......so you will find that qualified <= ordinary but never >. It's probably better to look at your statements to see what is being reinvested rather than the 1099-DIV which shows distributions. Okay. Thanks a lot. My on...
by Abe
Wed Apr 20, 2016 3:31 pm
Forum: Investing - Help with Personal Investments
Topic: Question about calculating tax basis
Replies: 6
Views: 413

Question about calculating tax basis

I am trying to calculate my basis in a mutual fund. I am getting my information from my 1099-Div form from the IRS. It is my understanding that I add my original cost to any reinvested distributions (dividends and capital gains) to arrive at my basis. My confusion is about ordinary dividends and qua...
by Abe
Tue Apr 19, 2016 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Why am I still scared ? Is it actually normal ?
Replies: 59
Views: 6565

Re: Why am I still scared ? Is it actually normal ?

Most of my life, I worried about making it. Now I worry about losing it. Some people just worry. :beer
by Abe
Sat Apr 16, 2016 12:06 pm
Forum: Investing - Theory, News & General
Topic: What are Pros and Cons to the "Four Hour Workweek?"
Replies: 99
Views: 10708

Re: What are Pros and Cons to the "Four Hour Workweek?"

There are a lot of opportunities out there, but there is no easy way to make money that I know of. I've been self employed my entire life, and never worked for a salary. Having said that, I have to say it was not easy, and I never made a lot of money. I've been fairly successful but not because I ma...
by Abe
Sat Apr 16, 2016 11:37 am
Forum: Personal Consumer Issues
Topic: Cost of medication - Costco versus Walgreens
Replies: 31
Views: 5025

Re: Cost of medication - Costco versus Walgreens

I have my Part D with Humana. The premium is only about $18 a month. I was getting my prescriptions filled at Walmart at very little cost, but now I get them from Humana Pharmacy. They send a 3 month supply in the mail and they are free. Can't beat that.
by Abe
Sat Apr 16, 2016 11:07 am
Forum: Investing - Theory, News & General
Topic: What are Pros and Cons to the "Four Hour Workweek?"
Replies: 99
Views: 10708

Re: What are Pros and Cons to the "Four Hour Workweek?"

There ain't no free lunch, or something like that. :beer
by Abe
Wed Apr 13, 2016 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card cancelled
Replies: 71
Views: 4538

Re: Credit card cancelled

There are people who don't use credit cards. I didn't have one for years. I do have one now but don't use it very much.
by Abe
Mon Apr 11, 2016 1:08 pm
Forum: Personal Consumer Issues
Topic: Small, creative and daily ways to save money
Replies: 12
Views: 1919

Re: Small, creative and daily ways to save money

When my frugal uncle went out to eat, he would order water, then take out a package of instant tea and pour it into the water and presto: a free glass of tea. :happy
by Abe
Fri Apr 08, 2016 10:37 am
Forum: Investing - Help with Personal Investments
Topic: Those four sweetest words ...
Replies: 31
Views: 2790

Re: Those four sweetest words ...

It’s never too late.
by Abe
Fri Apr 08, 2016 9:42 am
Forum: Investing - Help with Personal Investments
Topic: Those four sweetest words ...
Replies: 31
Views: 2790

Re: Those four sweetest words ...

Please excuse my ignorance, but what transfer are we talking about? :confused

Edited to add: I get it now. :oops:
by Abe
Sun Apr 03, 2016 4:58 pm
Forum: Investing - Help with Personal Investments
Topic: want 1031 exchange with my rental home to hawaii resident home
Replies: 4
Views: 426

Re: want 1031 exchange with my rental home to hawaii resident home

A 1031 exchange has to be like kind property. Is the property in Hawaii rental property. If not, I don't think you can do it.
by Abe
Sun Apr 03, 2016 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Please explain "pocket-change prepayments" on a mortgage
Replies: 47
Views: 4200

Re: Please explain "pocket-change prepayments" on a mortgage

I would recommend to anyone interested in anything financial getting a pocket financial calculator and learning how to use it. I know we have spread sheets now or calculators online, but I still like having my pocket calculator handy. I use the Texas Instrument BAII Plus which you can buy at Walmart...
by Abe
Sun Apr 03, 2016 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Please explain "pocket-change prepayments" on a mortgage
Replies: 47
Views: 4200

Re: Please explain "pocket-change prepayments" on a mortgage

If you can get a higher return investing the money than the interest rate on the mortgage, you may want to invest the money and not pay down the loan. Of course some people would rather get the mortgage paid off as soon as possible regardless. So, like a lot of things, it depends on the individual.
by Abe
Sun Apr 03, 2016 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Please explain "pocket-change prepayments" on a mortgage
Replies: 47
Views: 4200

Re: Please explain "pocket-change prepayments" on a mortgage

So according to your calculations, at the beginning of a 30 year 9% mortgage an extra payment ($805) knocks out more than a year's worth (about 16 months) of payments? Does that mean doing three extra payments at the beginning would knock out almost 5 years? That seems hard to believe. The mortgage...
by Abe
Sat Apr 02, 2016 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Please explain "pocket-change prepayments" on a mortgage
Replies: 47
Views: 4200

Re: Please explain "pocket-change prepayments" on a mortgage

My HELOC is structured differently. Excess payment amounts reduce the require payment amounts for subsequent months by a small amount, keeping the theoretical term the same... I was referring to a standard mortgage loan. I am not familiar with home equity loans. Generally speaking most mortgage loa...
by Abe
Sat Apr 02, 2016 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Please explain "pocket-change prepayments" on a mortgage
Replies: 47
Views: 4200

Re: Please explain "pocket-change prepayments" on a mortgage

My HELOC is structured differently. Excess payment amounts reduce the require payment amounts for subsequent months by a small amount, keeping the theoretical term the same... I was referring to a standard mortgage loan. I am not familiar with home equity loans. Generally speaking most mortgage loa...
by Abe
Fri Apr 01, 2016 10:53 am
Forum: Personal Finance (Not Investing)
Topic: Please explain "pocket-change prepayments" on a mortgage
Replies: 47
Views: 4200

Re: Please explain "pocket-change prepayments" on a mortgage

If you send in a payment that's higher than the required amount, the additional amount is applied to the principal balance. The accelerated reduction in principal lets you pay less interest over the life of the loan than what is shown on the original amortization schedule and you pay the loan off f...
by Abe
Thu Mar 31, 2016 3:21 pm
Forum: Personal Consumer Issues
Topic: Name one good, Name one bad thing YOU experienced [that saved money]
Replies: 37
Views: 3019

Re: Name one good, Name one bad thing YOU experienced

Bad thing: I bought a home with hardly any down payment. Ugh. Please save as much as you can. My next house I will put 20-25% down. You may already know this. You can always pay 20-25% on the principal at any point which would have the same effect as paying it down except your principal and interes...
by Abe
Thu Mar 31, 2016 12:59 pm
Forum: Investing - Help with Personal Investments
Topic: Lending Club (or other P2P) Experiences?
Replies: 23
Views: 1679

Re: Lending Club (or other P2P) Experiences?

We know the risks associated with unsecured loans. Any chance you want to provide some insight for us that like to dabble in the P2P market? :happy Is there a set of criteria we should use? I know you didn't ask me, but I'll give you my two cents worth. This is what you need to do. If someone comes...
by Abe
Thu Mar 31, 2016 12:39 pm
Forum: Investing - Help with Personal Investments
Topic: Lending Club (or other P2P) Experiences?
Replies: 23
Views: 1679

Re: Lending Club (or other P2P) Experiences?

-Don't invest if people not paying you back will cause a lot of heart burn - I didn't realize I would be angry when someone takes out a loan and makes zero payments as I consider that fraud. Interesting that several people in this thread mentioned that. Do you get mad when one of the stocks in TSM ...
by Abe
Wed Mar 30, 2016 3:03 pm
Forum: Investing - Help with Personal Investments
Topic: Lending Club (or other P2P) Experiences?
Replies: 23
Views: 1679

Re: Lending Club (or other P2P) Experiences?

I don't have any experience with P2P lending, at least the kind where you go online a make loans to people you don't even know. In my opinion, I don't think P2P lending is a very good deal. It is my understanding that these are unsecured loans. I don't think ten to twelve percent is enough return f...
by Abe
Wed Mar 30, 2016 2:00 pm
Forum: Investing - Help with Personal Investments
Topic: Lending Club (or other P2P) Experiences?
Replies: 23
Views: 1679

Re: Lending Club (or other P2P) Experiences?

I don't have any experience with P2P lending, at least the kind where you go online a make loans to people you don't even know. In my opinion, I don't think P2P lending is a very good deal. It is my understanding that these are unsecured loans. I don't think ten to twelve percent is enough return fo...
by Abe
Wed Mar 30, 2016 10:16 am
Forum: Investing - Theory, News & General
Topic: It's all about saving, not investing really.
Replies: 84
Views: 7836

Re: It's all about saving, not investing really.

staythecourse wrote: It is common math. 5% of 100k is more then 5% of 500k.


I don't get this. :confused
by Abe
Tue Mar 29, 2016 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate License for your own personal RE
Replies: 15
Views: 1411

Re: Real Estate License for your own personal RE

I had a Real Estate Brokers license for many years. First, it's not that easy to get a license. You have to do quite a bit of studying before taking the test. Once you get a license, you are required to complete 6 classroom hours of RE education annually to keep your license active in my state and p...
by Abe
Tue Mar 29, 2016 4:55 pm
Forum: Investing - Theory, News & General
Topic: Anyone else feeling a correction brewing?
Replies: 60
Views: 5941

Re: Anyone else feeling a correction brewing?

Assume the market will drop 50% tomorrow, and take 10-20 years to recover. Pick an allocation on that, and you don't have to worry if your "hunches" are any good at all, because then you are already prepared if something bad happens. Hey that's good Homer. Reminds me of something I read i...
by Abe
Tue Mar 29, 2016 2:02 pm
Forum: Investing - Theory, News & General
Topic: It's all about saving, not investing really.
Replies: 84
Views: 7836

Re: It's all about saving, not investing really.

There are three things you need to do: Save, Invest and Compound. You can't invest if you don't save and you can't compound if you don't invest. :wink:
by Abe
Mon Mar 28, 2016 3:03 pm
Forum: Investing - Theory, News & General
Topic: It's all about saving, not investing really.
Replies: 84
Views: 7836

Re: It's all about saving, not investing really.

Correct me if I'm wrong, but even at 100% equities vs 100% long term bonds, you're looking at a difference of maybe 4% returns, maybe even less after taxes. Yes, saving is important, but so is investing. According to Vanguard portfolio allocation model, stocks returned 10.1% from 1926-2015). If you...
by Abe
Thu Mar 24, 2016 12:00 pm
Forum: Personal Consumer Issues
Topic: $184,000? How do you like your cell phone now?
Replies: 59
Views: 6066

Re: $184,000? How do you like your cell phone now?

I bought a car for $6k when I was 20 years old when I could have bought a used one for $3k.
That car cost me $265k. :(
by Abe
Wed Mar 23, 2016 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Financially, how have you done/doing vs. your parents?
Replies: 134
Views: 10472

Re: Financially, how have you done/doing vs. your parents?

I've done much better financially than my parents, but life dealt me a hell of a lot better hand then they got. I don't know what I would have done if I had the same hardships they did. I've been lucky.
by Abe
Wed Mar 23, 2016 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Has your definition of "a lot" of money changed?
Replies: 57
Views: 5078

Re: Has your definition of "a lot" of money changed?

How can anyone raise a family and save appropriately with a household income under 200k per year?!?!? I don't know what the cost of living is where you live. However, DW and I raised two children, sent both of them to college without loans, paid off our house, and retired comfortably. We never had ...
by Abe
Wed Mar 23, 2016 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Capital One 360 New Money Market Account, 1% on over 10k
Replies: 80
Views: 9845

Re: Capital One 360 New Money Market Account, 1% on over 10k

Thanks for the information. I opened a money market account and transferred money from my savings account to it. I'm now getting an extra $50 per month. :greedy
by Abe
Wed Mar 23, 2016 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Has your definition of "a lot" of money changed?
Replies: 57
Views: 5078

Re: Has your definition of "a lot" of money changed?

How can anyone raise a family and save appropriately with a household income under 200k per year?!?!? I don't know what the cost of living is where you live. However, DW and I raised two children, sent both of them to college without loans, paid off our house, and retired comfortably. We never had ...
by Abe
Mon Mar 21, 2016 5:20 pm
Forum: Investing - Theory, News & General
Topic: How can we see if stock markets are about to crash?
Replies: 52
Views: 3982

Re: How can we see if stock markets are about to crash?

I have a way of knowing, and I'll let you in on the secret. It's all in my newsletter.
by Abe
Mon Mar 21, 2016 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: $1 Million+ Nest Egg From Less Than $100k Yearly Income
Replies: 45
Views: 8290

Re: $1 Million+ Nest Egg From Less Than $100k Yearly Income

I hope this doesn't come off sounding like a rags to riches story because that's not my intent. I'm posting it because it may help others just starting out. I hear people on this site talking about getting a good education and then getting a good job making $100k a year or more. Some people can't do...
by Abe
Mon Mar 21, 2016 10:30 am
Forum: Investing - Help with Personal Investments
Topic: real estate investor reaching end game
Replies: 23
Views: 3280

Re: real estate investor reaching end game

I've learned to listen to my gut. After sleeping on it I realize my risk tolerance is zero. I woke up knowing that entering the stock market at this time for me is a gamble. When I fully accepted this, I felt the tension in my shoulders relax and my wife asked me over coffee what I was grinning abo...
by Abe
Sun Mar 20, 2016 2:47 pm
Forum: Investing - Help with Personal Investments
Topic: Question about duration
Replies: 14
Views: 950

Re: Question about duration

dbr wrote:A good long answer including the point as to what one means by getting back all of one's investment.


Yes, thanks grabiner. That was a good answer. I appreciate it.

Go to advanced search