Search found 1585 matches

by Abe
Sat Aug 05, 2017 11:43 am
Forum: Personal Consumer Issues
Topic: Creating Multiple Streams of Income
Replies: 12
Views: 2013

Re: Creating Multiple Streams of Income

I own rental properties which produce income streams. Also, for many years, I bought owner financed mortgages at discount. Very nice to receive all those checks in the mail every month. I receive social security which is an income stream. Of course, I get interest, dividends and capital gains, but I...
by Abe
Fri Aug 04, 2017 3:49 pm
Forum: Investing - Theory, News & General
Topic: Illusion of poverty/wealth
Replies: 166
Views: 25747

Re: Illusion of poverty/wealth

Financially savvy doesn't mean financially wealthy. You can take the kid with the highest grades in your college class and yet they don't make it to CEO or even executive suite, instead the CEO is the class clown who was cracking jokes in class and getting C's. Who winds up wealthier? For things to...
by Abe
Fri Aug 04, 2017 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Anyone else have trouble spending?
Replies: 91
Views: 5551

Re: Anyone else have trouble spending?

You asked why you have these anxieties about spending money. I don't know if anyone can answer that, but I think there are two types of people, those who worry about spending and those who don't. I agree 100%. Interestingly, I wonder often if one of the reasons the folks on this board (me included)...
by Abe
Fri Aug 04, 2017 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Anyone else have trouble spending?
Replies: 91
Views: 5551

Re: Anyone else have trouble spending?

You asked why you have these anxieties about spending money. I don't know if anyone can answer that, but I think there are two types of people, those who worry about spending and those who don't. I am one of the former group and it appears you are too. You are what you are, and that cannot be easily...
by Abe
Thu Aug 03, 2017 11:28 am
Forum: Personal Finance (Not Investing)
Topic: The age old debate 30 vs 15 [year mortgage rate]
Replies: 41
Views: 4615

Re: The age old debate 30 vs 15 [year mortgage rate]

In your situation, if you know you will only be there for 3 to 5 years and you know you can make the payments without a problem, then I would think you would be better off with the 15 year mortgage. The benefit of the 30 year mortgage is that it gives you flexibility. You have the option of making a...
by Abe
Wed Aug 02, 2017 1:09 pm
Forum: Investing - Help with Personal Investments
Topic: Will my older self thank me?
Replies: 38
Views: 3003

Re: Will my older self thank me?

jb1: When I was your age, I was in a similar situation as you only I didn't have as much money saved as you do. I can tell you that people don't change that much. I was very frugal, saved my money and all that, while many of my friends were living the high live. They laughed at me too back then, but...
by Abe
Fri Jul 28, 2017 4:07 pm
Forum: Investing - Theory, News & General
Topic: NYT Carl Richards "You’re No Coward if You’re Keeping Some Money Out of Stocks"
Replies: 42
Views: 4991

Re: NYT Carl Richards "You’re No Coward if You’re Keeping Some Money Out of Stocks"

I understand having a limit on how much one puts in the market. Isn't that what asset allocation is all about? I don't agree with having the money in cash yielding .16%. There are plenty of low risk places to put it that pay a higher rate than .16%.
by Abe
Fri Jul 28, 2017 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Money Market vs. Savings Accounts
Replies: 42
Views: 5447

Re: Vanguard Money Market vs. Savings Accounts

The SEC yield for my Vanguard Prime Money Market Fund (VMMXX) is 1.10%.
by Abe
Mon Jul 24, 2017 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Rental Property By Ourselves
Replies: 15
Views: 910

Re: Selling Rental Property By Ourselves

renue74 wrote:The problem with this is...if I have to foreclose on the buyer, how easy will it be to get them to drop $10K to $20K to return the office to the level I had it.


It would be almost impossible.
by Abe
Mon Jul 24, 2017 1:37 pm
Forum: Personal Consumer Issues
Topic: Anyone else extremely frugal?
Replies: 100
Views: 8267

Re: Anyone else extremely frugal?

Edited to add: Here's how to save money on lunch. Go to Wally World and get a 12 oz package of bologna .99c, a 2 liter Great Value root beer .84c and a loaf of bread $1.35 for a total of $3.18. This is enough to last about 1 week, so $3.18 divided by 7 days equal .46c per day for lunch give or take...
by Abe
Mon Jul 24, 2017 12:13 pm
Forum: Personal Consumer Issues
Topic: Anyone else extremely frugal?
Replies: 100
Views: 8267

Re: Anyone else extremely frugal?

I'm guilty of being frugal, give me 10 lashes with a wet noodle. I must say though, I have never missed a meal. I'm not that frugal. When eating out, I always drink water since water is cheaper than coffer or tea. I went out to eat one time with my aunt and uncle. They were cheaper than me. We all o...
by Abe
Mon Jul 24, 2017 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Selling Rental Property By Ourselves
Replies: 15
Views: 910

Re: Selling Rental Property By Ourselves

Selling with owner financing is a good way to sell your property, especially the type of property you have, an older store that needs work. I have sold several properties with owner financing and at times made more money by selling with owner financing than I did renting. The fact that your prospect...
by Abe
Sat Jul 22, 2017 3:25 pm
Forum: Personal Consumer Issues
Topic: Am I getting good advice - replace the AC, not the 21 year old furnace
Replies: 33
Views: 2712

Re: Am I getting good advice - replace the AC, not the 21 year old furnace

If you know anyone who owns rental property, you might ask them who they use for HVAC work. They usually know the ones who are trustworthy and will give you a reasonable price.
by Abe
Sat Jul 22, 2017 11:53 am
Forum: Personal Consumer Issues
Topic: Am I getting good advice - replace the AC, not the 21 year old furnace
Replies: 33
Views: 2712

Re: Am I getting good advice - replace the AC, not the 21 year old furnace

I have rental properties, and I usually replace both, the A/C and furnace at the same time, especially if it is as old as yours. My cost for replacing both typically runs around $4,000 but of course depends on the unit size. You need to shop around.
by Abe
Fri Jul 21, 2017 10:03 am
Forum: Investing - Theory, News & General
Topic: Can real estate investing (actual properties) be relatively "hands off"?
Replies: 50
Views: 5523

Re: Can real estate investing be relatively "hands off"?

Many years ago, when I was getting started, I invested in a few things that I probably wouldn't invest in now. One of those things was real estate, single family houses for the most part. Real estate is not hands off. I wouldn't say it's like a second job, but there are problems you will have to dea...
by Abe
Tue Jul 18, 2017 3:06 pm
Forum: Personal Consumer Issues
Topic: Does mower brand matter much if they're all Briggs & Stratton engines?
Replies: 84
Views: 6839

Re: Does mower brand matter much if they're all Briggs & Stratton engines?

For what its worth: A few years ago, I was shopping for a riding lawn mower. I asked the shop manager at our local John Deere dealership about engines. He said they had to work on Briggs & Stratton engines all the time; he said they rarely had to work on Kohler engines.
by Abe
Mon Jul 17, 2017 12:57 pm
Forum: Investing - Theory, News & General
Topic: Dividend Misunderstandings & Only Spend Return
Replies: 282
Views: 15221

Re: Dividend Misunderstandings & Only Spend Return

With all due respect, if you are using dividends as income, you are "spending into your assets". That's the point of this thread. I don't know a lot about this stuff, so please correct me if I am wrong. Lets say I own a small corner grocery store and the profit it makes is $50k a year, an...
by Abe
Sat Jul 15, 2017 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Dealership rejecting rebate after contract signed
Replies: 118
Views: 15058

Re: Dealership rejecting rebate after contract signed

It's possible that this was a "good guy/bad guy" scam with the management and salesperson. And that the dealership actually instructed the salesperson to bully you into trying to redo the deal. Once that didn't happen, they probably gave the salesperson an "attaboy" for at least...
by Abe
Thu Jul 13, 2017 4:35 pm
Forum: Personal Consumer Issues
Topic: Cheap eggs... how bad?
Replies: 82
Views: 6496

Re: Cheap eggs... how bad?

I bought grade A large eggs recently for .45c a dozen at Aldi. Egg prices spiked with the avian flu outbreak. As a result, egg prices temporarily neared $3.00 a dozen. Now the supply of eggs is back to normal, but exports of American eggs to other countries still haven't returned to their pre-bird f...
by Abe
Wed Jul 12, 2017 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Personal loan to a family member
Replies: 114
Views: 6835

Re: Personal loan to a family member

I'm not sure I see many answers to the OPs question. The OP is interested in lending the money but wants to make sure that he is repaid in the event that the house is sold. So, it sounds like the OP would be extending a second mortgage to the relative, junior to the construction loan that has alrea...
by Abe
Wed Jul 12, 2017 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Jewelry insurance. Is it ever worth it?
Replies: 35
Views: 3081

Re: Jewelry insurance. Is it ever worth it?

My 90 year-old mother kept all her jewellry ln a safe in her bedroom, and moved it all to a bank safety deposit box whenever she went abroad. Except once a year ago. Forgot to move her stuff; and the whole safe got stolen. All 100+ lbs of it, in one piece! Loss amounted to over $250k, uninsured. Th...
by Abe
Wed Jul 12, 2017 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Personal loan to a family member
Replies: 114
Views: 6835

Re: Personal loan to a family member

I wouldn't do it. I'm also dubious that you can give an interest free loan to a family member without one of you having tax consequences. Imputed Interest refers to interest that is considered by the IRS to have been paid for tax purposes, even if no interest payment was made. The IRS uses imputed ...
by Abe
Wed Jul 12, 2017 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Jewelry insurance. Is it ever worth it?
Replies: 35
Views: 3081

Re: Jewelry insurance. Is it ever worth it?

I personally would not insure jewelry. I have a 2.5 carat antique diamond ring that was handed down to me. It's probably worth maybe $10k. My wife wanted to wear it, so I reluctantly got it out of the lock box and gave it to her. She recently asked me to put it back in the lock box because she is af...
by Abe
Wed Jul 12, 2017 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Personal loan to a family member
Replies: 114
Views: 6835

Re: Personal loan to a family member

There is always the risk that you will lose money. I invested in mortgages for many years. Just because you have a lien on the house does not necessairly mean you will get your money back. Example: You hold a second mortgage for say $50k behind a first mortgage of say $200k. If there is a foreclosur...
by Abe
Mon Jul 10, 2017 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: What do you do when you run the numbers and don't like the answer that you get?
Replies: 29
Views: 3469

Re: What do you do when you run the numbers and don't like the answer that you get?

If you don't have a financial calculator, I suggest you get one and learn how to use it. I use the Texas Instrument BAll Plus which you can buy at Walmart for about $30. You can also use a spreadsheet or use an online calculator. My calculator tell me that $700k invested at 6% will grow to $2,245,00...
by Abe
Mon Jul 10, 2017 2:03 pm
Forum: Investing - Theory, News & General
Topic: Retirement is Risky Business
Replies: 41
Views: 6971

Re: Retirement is Risky Business

J295 wrote:Life is full of risks .... Whether retired or not.


Yup ... Just living is risky. :wink:
by Abe
Sat Jul 08, 2017 12:11 pm
Forum: Investing - Help with Personal Investments
Topic: tell me about real estate investment
Replies: 36
Views: 2988

Re: tell me about real estate investment

There are a lot of people on this site that say owning rental property is like having a second job, or it's like owning a McDonalds fast food place, or that you will have people calling in the middle of the night with a stopped up toilet. I have owned rental property for probably 50 years, and it d...
by Abe
Fri Jul 07, 2017 4:23 pm
Forum: Investing - Help with Personal Investments
Topic: tell me about real estate investment
Replies: 36
Views: 2988

Re: tell me about real estate investment

There are a lot of people on this site that say owning rental property is like having a second job, or it's like owning a McDonalds fast food place, or that you will have people calling in the middle of the night with a stopped up toilet. I have owned rental property for probably 50 years, and it do...
by Abe
Sat Jul 01, 2017 10:50 am
Forum: Investing - Help with Personal Investments
Topic: Anyone else got all their eggs in only the Vanguard basket?
Replies: 41
Views: 4046

Re: Anyone else got all their eggs in only the Vanguard basket?

In theory, as best I understand the way brokerages and mutual funds work, I do not worry about Vanguard going bankrupt. It's not like a health club membership or a car warranty or an airline seat, where you pay somebody money up front, they take the money and use it, and promise to do something for...
by Abe
Fri Jun 30, 2017 4:39 pm
Forum: Investing - Help with Personal Investments
Topic: Looking into selling a structured settlement and need some advice
Replies: 66
Views: 4230

Re: Looking into selling a structured settlement and need some advice

Thanks for the feedback and responses everyone. That is why I came here in the first place. To give everyone an update... I am not going to be selling it. Over the past week, the offer went up to 1,250,000. It bottomed out there as a takeout or leave it. I am leaving it. To play devil's advocate an...
by Abe
Thu Jun 29, 2017 11:49 am
Forum: Personal Consumer Issues
Topic: Getting a new cooktop, gas vs electric?
Replies: 72
Views: 3867

Re: Getting a new cooktop, gas vs electric?

One reason I like gas appliances is they work during power failures. The burners anyway; the ignition on most oven pilots won't work without power these days. You can light them with a match or any kind of flame lighter. Edited to add: I was referring to the cooktop, don't know if you can do that w...
by Abe
Wed Jun 28, 2017 4:13 pm
Forum: Personal Consumer Issues
Topic: Getting a new cooktop, gas vs electric?
Replies: 72
Views: 3867

Re: Getting a new cooktop, gas vs electric?

I had a old electric cooktop. Someone replaced their gas cooktop and gave me their old one. I along with a handyman I know took out my old electric cooktop and dropped in the gas one. We then hooked on to an existing gas line in the attic and ran the pipe down the wall and connected it to the gas co...
by Abe
Wed Jun 28, 2017 1:00 pm
Forum: Investing - Help with Personal Investments
Topic: Looking into selling a structured settlement and need some advice
Replies: 66
Views: 4230

Re: Looking into selling a structured settlement and need some advice

I invested in owner financed mortgages as well as other income stream investments for years. An individual who had seen my ad called me with a structured settlement he wanted to sell. I made him an offer that gave me a very high yield and he accepted. It didn't work out because I wasn't familiar wit...
by Abe
Tue Jun 27, 2017 4:23 pm
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 1023
Views: 245899

Re: Best watch for around $5,000?

Move over Rolex, say hello to les-cabinotiers-celestia-astronomical-grand There was an article in Barrons Penta Daily regarding first million dollar watch. m from the article "Turn the watch over and you are treated to sidereal time, which indicates the earth’s position relative to other stars...
by Abe
Tue Jun 27, 2017 4:15 pm
Forum: Personal Consumer Issues
Topic: Anyone feel like talking "R"
Replies: 40
Views: 8812

Re: Anyone feel like talking "R"

I was going to fast around the curve and my car went R-borne.
by Abe
Fri Jun 23, 2017 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Which High-Yield Online Savings Account Should I Open?
Replies: 72
Views: 8708

Re: Which High-Yield Online Savings Account Should I Open?

Vanguard Prime Money Market (VMMXX) SEC yield is 1.05% Would there a be reason to use this MM when Online savings accounts pay more? (Barclays 1.15%, Synchrony 1.15%, GSbank 1.2%). Well I guess it depends. In my case, I've pretty much funded several online savings accounts to the maximum FDIC cover...
by Abe
Fri Jun 23, 2017 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Which High-Yield Online Savings Account Should I Open?
Replies: 72
Views: 8708

Re: Which High-Yield Online Savings Account Should I Open?

Vanguard Prime Money Market (VMMXX) SEC yield is 1.05%
by Abe
Mon Jun 19, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: "Wealth doesn't come with a handbook"
Replies: 2
Views: 1126

Re: "Wealth doesn't come with a handbook"

I read most of the article, but it's not something I can relate to since I don't have their problem. :beer
by Abe
Mon Jun 19, 2017 4:57 pm
Forum: Personal Consumer Issues
Topic: Trying to save money on prescription drug
Replies: 28
Views: 1531

Re: Trying to save money on prescription drug

Thanks everyone for all your help. I'm getting a lot of good information.
by Abe
Mon Jun 19, 2017 3:50 pm
Forum: Personal Consumer Issues
Topic: Trying to save money on prescription drug
Replies: 28
Views: 1531

Re: Trying to save money on prescription drug

Thanks everyone for all your help. I do appreciate it. I have ordered from Northwest Pharmacy and had a good experience with it, received actual brand name meds at a heavily discounted price vs US cost. m Thank you BruDude. This is the kind of information I'm looking for. It would be odd to have a &...
by Abe
Mon Jun 19, 2017 1:57 pm
Forum: Personal Consumer Issues
Topic: Trying to save money on prescription drug
Replies: 28
Views: 1531

Re: Trying to save money on prescription drug

Asthma inhalers are super expensive and there often are no discounts. I had to switch to QVar recently also, because my health insurance company would no longer accept Flovent. I found that in terms of cost, it was cheapest to go through my health insurance. I originally called Costco, thinking Cos...
by Abe
Mon Jun 19, 2017 1:46 pm
Forum: Personal Consumer Issues
Topic: Trying to save money on prescription drug
Replies: 28
Views: 1531

Re: Trying to save money on prescription drug

I don't have any experience but I am considering doing something similar. How did you pick a Canadian pharmacy online? Can you post the URL? Thanks I just Googled, Canadian drugs online and several came up. Edited to add: I don't know anything about it either. That's why I posted, to get some infor...
by Abe
Mon Jun 19, 2017 1:39 pm
Forum: Personal Consumer Issues
Topic: Trying to save money on prescription drug
Replies: 28
Views: 1531

Trying to save money on prescription drug

I have a condition where I am coughing and wheezing at night. My doctor prescribed a medication for me called Qvar inhaler. I purchased it at Walmart Pharmacy and it is working. It looks like I will have to continue taking this medication on a regular basis. The cost is $176.00 for 120 doses, and it...
by Abe
Sat Jun 17, 2017 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Curious to odd estate question
Replies: 88
Views: 5458

Re: Curious to odd estate question

I think this is an unsolvable problem. I never thought about it, but it looks to me like anytime you destroy an asset someone will benefit from it. I could buy $6 million dollars worth of charcoal and burn it, but the person who sold me the charcoal would have the money. :beer
by Abe
Fri Jun 16, 2017 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Curious to odd estate question
Replies: 88
Views: 5458

Re: Curious to odd estate question

Put in you will that, after your death, the executor of your will invite all your friends and family to a party. At the party, have a big bonfire and burn all the money. :happy
by Abe
Fri Jun 16, 2017 11:39 am
Forum: Personal Consumer Issues
Topic: Watch Batteries
Replies: 53
Views: 2608

Re: Watch Batteries

Get a kit like this and change the battery yourself. You can spend more on a kit and get a case and more tools. m You can get this on Ebay for $5.00 with free shipping: m Edited to add: I'm sorry. I thought it was a "buy it now". Actually the bid starts at $5 so you may not be able to get...
by Abe
Fri Jun 16, 2017 11:31 am
Forum: Personal Consumer Issues
Topic: Watch Batteries
Replies: 53
Views: 2608

Re: Watch Batteries

Luke Duke wrote:Get a kit like this and change the battery yourself. You can spend more on a kit and get a case and more tools.

http://www.amazon.com/Stalwart-16-Piece ... B006VWVX1Q


You can get this on Ebay for $5.00 with free shipping:
http://www.ebay.com/itm/Stalwart-16-Pie ... Swq~tZPwdI
by Abe
Thu Jun 15, 2017 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Curious to odd estate question
Replies: 88
Views: 5458

Re: Curious to odd estate question

Convert all of your assets to cash and state in your last will and instructions that you want to be cremated upon death along with all of your cash. Reminds me of the fellow who told his wife he wanted to take his money with him when he died. At the funeral a friend asked her how she was going to d...
by Abe
Thu Jun 15, 2017 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: How many of you have rentals (i.e. you're a landlord)? Are they worth it?
Replies: 74
Views: 5601

Re: How many of you have rentals (i.e. you're a landlord)? Are they worth it?

I have owned rental properties for over 40 years. Even though I live in a economically depressed area, I have done pretty well with them. Yes, there is some work and headaches involved, but not anything like a full time job. I have never found anything that was profitable that didn't require some wo...
by Abe
Thu Jun 15, 2017 10:23 am
Forum: Personal Consumer Issues
Topic: Watch Batteries
Replies: 53
Views: 2608

Re: Watch Batteries

I will guiltily admit that sometimes I have purchased a new $15 watch from Amazon rather than bother to change the battery in my old watch. A lot of people do this. I saw a fellow at a flea market one time, and he had a box full of non-working watches he bought at an auction for $5 for the entire b...