Search found 1346 matches

by Abe
Wed Aug 24, 2016 5:42 pm
Forum: Personal Consumer Issues
Topic: Get rich quick?
Replies: 49
Views: 7993

Re:

2. Don't focus on getting rich quickly. Focus on becoming a person who creates value. People pay for value. Value is simply what you do for people that they want more than the money you charge them for it. If you get rich quickly, count your blessings and promise yourself that you won't let it slip...
by Abe
Wed Aug 24, 2016 5:07 pm
Forum: Personal Consumer Issues
Topic: Favorite Restaurant Stop on Road Trips
Replies: 118
Views: 6882

Re: Favorite Restaurant Stop on Road Trips

happyisland wrote:I'm honestly shocked that there are so many votes for Chik Fil A. Who puts a bread and butter pickle on a fried chicken sandwich? I know you can pick it off, but that is just downright suspicious behavior.


I went to a Chik Fil A because others recommended it. I was not impressed.
by Abe
Sat Aug 20, 2016 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Interest calculation mortgage vs. consumer loans
Replies: 8
Views: 517

Re: Interest calculation mortgage vs. consumer loans

Okay thanks. I thought that was right. I just wanted to hear it from someone else. If you get detailed loan statement, you can probably calculate the split of principal and interest for each payment made. I printed out an amortization schedule, but it assumes payments are made on the exact due date...
by Abe
Sat Aug 20, 2016 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Interest calculation mortgage vs. consumer loans
Replies: 8
Views: 517

Re: Interest calculation mortgage vs. consumer loans

Thanks for the post. I have a question. I am a representative for an organization and we recently bought a vehicle. We paid $10k down and financed the balance of $20,588.75 at 4.89%, 60 months, payment $387.47. The contract says this is a simple finance charge. My question is about making additiona...
by Abe
Sat Aug 20, 2016 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Interest calculation mortgage vs. consumer loans
Replies: 8
Views: 517

Re: Interest calculation mortgage vs. consumer loans

Thanks for the post. I have a question. I am a representative for an organization and we recently bought a vehicle. We paid $10k down and financed the balance of $20,588.75 at 4.89%, 60 months, payment $387.47. The contract says this is a simple finance charge. My question is about making additional...
by Abe
Sat Aug 20, 2016 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Help - How to deposit a check without endorsement?
Replies: 37
Views: 3263

Re: Help - How to deposit a check without endorsement?

Here is what I decided to do: 1- I am going to have the company scan/email me the checks and then attempt to upload them via mobile deposit to either USAA, HSBC or Capital One. These banks allow high four figure deposits (up to $10k in two cases) daily whereas Citibank mobile deposit has a terribly...
by Abe
Fri Aug 19, 2016 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Help - How to deposit a check without endorsement?
Replies: 37
Views: 3263

Re: Help - How to deposit a check without endorsement?

I think most small local banks or credit unions will allow you to have checks deposited in your account without your endorsement. I would find one that does, and then open an account and have the checks sent to that bank marked for deposit only with your account number. This is part of the reason wh...
by Abe
Thu Aug 18, 2016 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Self-made Millionaires: how did hitting 7 figures change you?
Replies: 253
Views: 26817

Re: Self-made Millionaires: how did hitting 7 figures change you?

expat wrote: Let's say 1 million produces 40K in annual income. That is nothing in a high cost of living area.


It's better than nothing.
by Abe
Thu Aug 18, 2016 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Self-made Millionaires: how did hitting 7 figures change you?
Replies: 253
Views: 26817

Re: Self-made Millionaires: how did hitting 7 figures change you?

It seems the general consensus here is that after hitting the one million mark, there may have been a brief feeling of exhilaration, but then back to the status quo ante.
by Abe
Mon Aug 15, 2016 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Self-made Millionaires: how did hitting 7 figures change you?
Replies: 253
Views: 26817

Re: Self-made Millionaires: how did hitting 7 figures change you?

Saying, "I'm a millionaire" these days is about like saying, "I drive a Cadillac". I live in an economically depressed area in the south. I remember people from the south going up north and getting a good paying job because there were very few jobs here. Some of them would come ...
by Abe
Sun Aug 14, 2016 4:40 pm
Forum: Personal Consumer Issues
Topic: Are you on Facebook?
Replies: 144
Views: 7842

Re: Are you on Facebook?

For a long time I was not on Facebook because I didn't think it would be something I would use. One day I was trying to get in touch with a relative who had moved, and I didn't know where he was or how to get in touch with him. After opening an account on FB for the purpose of locating this relative...
by Abe
Fri Aug 12, 2016 5:00 pm
Forum: Personal Consumer Issues
Topic: Request for recommendations: English Mystery TV series
Replies: 74
Views: 4031

Re: Request for recommendations: English Mystery TV series

Father Brown and I really liked Sherlock Holmes with Jeremy Brett as Holmes. My wife liked Lovejoy, but I didn't care for it.
by Abe
Tue Aug 09, 2016 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: Best place to get loan for Truck?
Replies: 9
Views: 594

Re: Best place to get loan for Truck?

Thanks everyone for your help. Will finance through dealer and then refinance at the lower rate as suggested.
by Abe
Tue Aug 09, 2016 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Best place to get loan for Truck?
Replies: 9
Views: 594

Re: Best place to get loan for Truck?

You can check around but you may be stuck with the "business" rates since this is not an individual purchase. Yes, the local bank I called quoted between 4.5% and 5.5%, and they said this would be a commercial loan and the rate is higher for a commercial loan. Don't know why, but that's w...
by Abe
Tue Aug 09, 2016 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Best place to get loan for Truck?
Replies: 9
Views: 594

Best place to get loan for Truck?

I am on the board of a local small city utility company. We are shopping to buy a new truck. The total price will be about $30k with $10k down. The dealership offered a 6.95% percent loan with a $750 additional discount on the truck if we finance with them. I called a local bank and they quoted me 4...
by Abe
Thu Aug 04, 2016 11:34 am
Forum: Investing - Theory, News & General
Topic: How long to turn 1 million to 2 millions for you?
Replies: 44
Views: 7970

Re: How long to turn 1 million to 2 millions for you?

If you start with 1 million and invest $3,500 per month, you will have 2 million in:
105 months @ 5%
93 months @ 6%
84 months @ 7%
65 months @ 10%
47 months @ 15%
I wouldn't count on the last two. :beer
by Abe
Wed Aug 03, 2016 10:25 am
Forum: Investing - Help with Personal Investments
Topic: LMT vs Leidos [Lockheed Martin]
Replies: 12
Views: 3933

Re: LMT vs Leidos [Lockheed Martin]

Thanks for ruining my day. I was given 1 share of Comsat in 1966 as as Bar Mitzvah gift. A cheapskate, I know. I held on to it for a very long time. Never went anywhere. When Comsat ran some tender offer, I sold back the share , as it avoided a commission (which was high in those days). Maybe $25 o...
by Abe
Tue Aug 02, 2016 12:22 pm
Forum: Investing - Theory, News & General
Topic: How long to turn 1 million to 2 millions for you?
Replies: 44
Views: 7970

Re: How long to turn 1 million to 2 millions for you?

When I hear people say 1 million isn't what it used to be, I agree, it's not. But it's still a lot of money. At 4% SWR, creating $40k a year plus a little social security, most people can live on that.
by Abe
Sat Jul 30, 2016 10:02 am
Forum: Personal Consumer Issues
Topic: Preparing financially for our funerals - prepay or not?
Replies: 52
Views: 2149

Re: Preparing financially for our funerals - prepay or not?

I strongly urge you NOT to buy a prepaid burial insurance plan. The first thing I recommend you do is go to Funeral Consumers Alliance site and read this: "Should you prepay for your funeral" https://www.funerals.org/?consumers=should-you-prepay-for-your-funeral This is my experience with ...
by Abe
Tue Jul 26, 2016 4:58 pm
Forum: Personal Consumer Issues
Topic: Security system ADT Cost
Replies: 26
Views: 2336

Re: Security system ADT Cost

I pay $28.90 per month including tax.
by Abe
Sun Jul 24, 2016 5:03 pm
Forum: Investing - Help with Personal Investments
Topic: LMT vs Leidos [Lockheed Martin]
Replies: 12
Views: 3933

Re: LMT vs Leidos [Lockheed Martin]

I'm in the same boat. I received all the information in the mail, but it doesn't make much sense to me. I actually never bought a share of Lockheed Martin directly. I bought stock in a company called Comsat (Satellite Communications) back in the 60's I think. I think Lockheed Martin bought Comsat be...
by Abe
Sat Jul 23, 2016 10:37 am
Forum: Investing - Theory, News & General
Topic: Reliving the Nightmare of the Crisis
Replies: 119
Views: 8696

Re: Reliving the Nightmare of the Crisis

I learned that there are a lot of things that are out of my control. I learned that it's hard to regulate the financial industry. I learned that what goes around comes around. I learned that the big boys do stupid stuff too. I learned not to get too greedy. I learned that interest rates can go down ...
by Abe
Fri Jul 22, 2016 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Financial light at the end of a dark tunnel
Replies: 7
Views: 1064

Re: Financial light at the end of a dark tunnel

Hey, this is great, and a good example of it's never too late to start. :beer
by Abe
Wed Jul 20, 2016 4:23 pm
Forum: Investing - Theory, News & General
Topic: Remind me once again why I can't time the market?
Replies: 75
Views: 7175

Re: Remind me once again why I can't time the market?

The important thing is that you invest. As far as your strategy, it probably won't make much difference.
by Abe
Wed Jul 20, 2016 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: 15 Year vs 30 Year Mortgage + Student Debt
Replies: 13
Views: 1193

Re: 15 Year vs 30 Year Mortgage + Student Debt

With the 15 year loan, your interest rate will be a little lower, but your payment will be higher and you will be required to make the higher payment. With the 30 year loan, your interest rate will be a little higher, but your payment will be lower. If you go with the 30 year loan, you can still mak...
by Abe
Wed Jul 20, 2016 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: OK to stay in cash if you have 40-50x annual expenses?
Replies: 61
Views: 5216

Re: OK to stay in cash if you have 40-50x annual expenses?

I too am essentially in this situation with >50 times annual expenses in cash if we describe cash as CD's, savings accounts, bank accounts, etc. In addition to that, I have about 30% of my investable assets in stocks plus some real estate and bonds. But getting to the OP's question, I'm not sure fro...
by Abe
Wed Jul 20, 2016 1:31 pm
Forum: Investing - Theory, News & General
Topic: Why does a massive company like Coca Cola or Johnson Johnson need money from investors?
Replies: 25
Views: 2618

Re: Why does a massive company like Coca Cola or Johnson Johnson need money from investors?

A company repurchase of shares isn't going unpublic. The equity in a company is to be divided among all outstanding shares. If a company buys back its shares, it's now spending money on reducing the number of shares. The result is that the equity will now be divided among the smaller number of shar...
by Abe
Wed Jul 20, 2016 1:05 pm
Forum: Investing - Theory, News & General
Topic: Why does a massive company like Coca Cola or Johnson Johnson need money from investors?
Replies: 25
Views: 2618

Re: Why does a massive company like Coca Cola or Johnson Johnson need money from investors?

So can a company go un-public? Because then they wouldn't have to share their profits with the share-holders. Oh wait, no they couldn't because the share-holders could refuse to sell. I think I had a light-bulb moment, or am I off? Someone can correct me if I'm wrong here. When a company buys back ...
by Abe
Tue Jul 19, 2016 6:16 pm
Forum: Personal Consumer Issues
Topic: How much are these microscopes worth and what should I do with them?
Replies: 15
Views: 1241

Re: How much are these microscopes worth and what should I do with them?

I actually did try and find values on eBay, but I'm having a hard time pinning down comparable prices. The problem is that, other than the Olympus, I can't find specific model numbers on any of these. So, I am just left to lookup a specific brand name and that is bringing up a very wide range of va...
by Abe
Tue Jul 19, 2016 4:46 pm
Forum: Personal Consumer Issues
Topic: How much are these microscopes worth and what should I do with them?
Replies: 15
Views: 1241

Re: How much are these microscopes worth and what should I do with them?

I see where some have sold on Ebay for a few hundred dollars. If you don't want to go to the trouble of listing them yourself, there are people who sell on consignment for you on Ebay. There are some antique dealers who will do this.
by Abe
Tue Jul 19, 2016 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: OK to stay in cash if you have 40-50x annual expenses?
Replies: 61
Views: 5216

Re: OK to stay in cash if you have 40-50x annual expenses?

This is what Warren Buffett says about cash or what he calls currency based investments: Investments that are denominated in a given currency include money-market funds, bonds, mortgages, bank deposits, and other instruments. Most of these currency-based investments are thought of as “safe.” In trut...
by Abe
Tue Jul 19, 2016 10:37 am
Forum: Personal Finance (Not Investing)
Topic: OK to stay in cash if you have 40-50x annual expenses?
Replies: 61
Views: 5216

Re: OK to stay in cash if you have 40-50x annual expenses?

If you have a cash position of 40-50x your annual expenses past >5 years that are documented so this is no guessing estimating game, is that OK? Investor is retired, 62. Not taking SS or a small company pension yet. What say the BHs? Are all your investable assets in this cash position? If so, you ...
by Abe
Mon Jul 18, 2016 5:20 pm
Forum: Personal Consumer Issues
Topic: 23 year old... Can I afford a Rolex?
Replies: 213
Views: 28972

Re: 23 year old... Can I afford a Rolex?

Guess I'll tell my Rolex story. Many years ago, I was at a bar with a group of people who thought that expensive personal items were status symbols. They all had expensive Rolex watches and they were showing them off to each other. Someone asked to see my watch which was a pretty good watch but not ...
by Abe
Mon Jul 18, 2016 4:43 pm
Forum: Personal Consumer Issues
Topic: 23 year old... Can I afford a Rolex?
Replies: 213
Views: 28972

Re: 23 year old... Can I afford a Rolex?

Many years ago, I had a mentor who would ask me, "do you know how much that "boat" will cost you in 30 years at 10%"? I have to admit it got me thinking in that groove. :happy
by Abe
Mon Jul 18, 2016 3:23 pm
Forum: Personal Consumer Issues
Topic: Who do you not tip, and why?
Replies: 57
Views: 4677

Re: Who do you not tip, and why?

I've got almost 2 million dollars. I can afford to give a couple of bucks to someone serving me. If nothing else practicing generosity on a person-to-person level builds character as I define it. How much money you have is not the point. I have way more than 2 million, but why should I, the custome...
by Abe
Mon Jul 18, 2016 12:19 pm
Forum: Personal Consumer Issues
Topic: Who do you not tip, and why?
Replies: 57
Views: 4677

Re: Who do you not tip, and why?

Let me start by saying, I hate tipping. I don't travel so no problem there. When I eat out I usually tip 15% or 20%, not because I think I'll get better service, but because I feel guilty if I don't. And this is part of the problem with tipping. We feel guilty if we don't tip, but nobody says anythi...
by Abe
Mon Jul 18, 2016 9:51 am
Forum: Personal Consumer Issues
Topic: Electric Bills Killing Me from AC. Need Advice. [Air Conditioner]
Replies: 81
Views: 6210

Re: Electric Bills Killing Me from AC. Need Advice. [Air Conditioner]

I have my units (2) serviced twice a year for the cooling and heating systems. In spring my technician turns off the power to the outside a/c unit, removes the grill on top of the fan blade unit so he can gain access from the inside of the coils, hand sprays the fins from the outside with a product...
by Abe
Mon Jul 18, 2016 9:25 am
Forum: Personal Consumer Issues
Topic: Electric Bills Killing Me from AC. Need Advice. [Air Conditioner]
Replies: 81
Views: 6210

Re: Electric Bills Killing Me from AC. Need Advice. [Air Conditioner]

Did you also wash out the outside unit as I recommended in an earlier post? If not you definitely need to do this also. It will make the unit run more efficiently. It's an easy about 10 job and should be done at least once a year anyway. I promise you will have less problems if you do this. The dir...
by Abe
Sun Jul 17, 2016 5:38 pm
Forum: Personal Consumer Issues
Topic: Electric Bills Killing Me from AC. Need Advice. [Air Conditioner]
Replies: 81
Views: 6210

Re: Electric Bills Killing Me from AC. Need Advice. [Air Conditioner]

Did you also wash out the outside unit as I recommended in an earlier post? If not you definitely need to do this also. It will make the unit run more efficiently. It's an easy about 10 job and should be done at least once a year anyway. I promise you will have less problems if you do this. The dire...
by Abe
Sat Jul 16, 2016 5:30 pm
Forum: Investing - Theory, News & General
Topic: What if the fed never raises rates?
Replies: 23
Views: 3235

Re: What if the fed never raises rates?

selftalk wrote:What if the sky falls !


This is what I call the Chicken Little Syndrome. A lot of people have it, but I won't call any names. Humans are very adept at employing it. :happy
by Abe
Sat Jul 16, 2016 1:00 pm
Forum: Investing - Theory, News & General
Topic: How to be an enterprising investor?
Replies: 11
Views: 1273

Re: How to be an enterprising investor?

I have a rule: Those who know the most win. For many years, I bought owner financed mortgages. I almost always came out better on the deals I made with the sellers because I knew more than they did. Buying stocks is a different story. There are a lot of people that know more than I do and have acces...
by Abe
Sat Jul 16, 2016 11:13 am
Forum: Personal Consumer Issues
Topic: Contractor tipping: owner vs onsite supervisor
Replies: 24
Views: 1285

Re: Contractor tipping: owner vs onsite supervisor

I grew up in an economically depressed area. It was a hard time. Nobody had any money. The only tipping that was done was maybe leaving a small tip for the waitress at the cafe. Now, it seems everybody expects a tip, and a lot of people feel guilty if they don't give a tip. I can remember delivering...
by Abe
Sat Jul 16, 2016 10:05 am
Forum: Personal Finance (Not Investing)
Topic: taking back a mortgage
Replies: 27
Views: 2643

Re: taking back a mortgage

...I believe that you shouldn't just look at the interest rate written on the face of the document. Lets say that the OP sold the house for the exact same terms I used in my example: Sale price $100k, $10k down payment, 5% interest, 20 year term, payment $593.96, and as I posted in my example, the ...
by Abe
Fri Jul 15, 2016 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: taking back a mortgage
Replies: 27
Views: 2643

Re: taking back a mortgage

...I believe that you shouldn't just look at the interest rate written on the face of the document. Lets say that the OP sold the house for the exact same terms I used in my example: Sale price $100k, $10k down payment, 5% interest, 20 year term, payment $593.96, and as I posted in my example, the ...
by Abe
Fri Jul 15, 2016 3:21 pm
Forum: Investing - Theory, News & General
Topic: Why do we assume that a well diversified portfolio will inevitably increase over the long term?
Replies: 52
Views: 3997

Re: Why do we assume that a well diversified portfolio will inevitably increase over the long term?

The Time Value of Money and Discounting back to Present Value are fundamental investing concepts. If one understands these concepts, it is much easier to understand why a portfolio will continue to increase over time. If we believe that companies will continue to make profits in the future, then we ...
by Abe
Thu Jul 14, 2016 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: taking back a mortgage
Replies: 27
Views: 2643

Re: taking back a mortgage

The benefit to the seller when owner financing is not the interest rate on the mortgage. The benefit to the seller is his yield. A big part of his yield is in the discount, the difference in what he sells it for and what he paid for it. Lets say the seller originally paid $75k for the house and sel...
by Abe
Thu Jul 14, 2016 4:16 pm
Forum: Personal Consumer Issues
Topic: Electric Bills Killing Me from AC. Need Advice. [Air Conditioner]
Replies: 81
Views: 6210

Re: Electric Bills Killing Me from AC. Need Advice.

Try this first. Wash out the outside unit. To do this, turn the A/C off, then using an ordinary garden hose with a nozzle set at high pressure, wash the unit out. You will see metal fins all around the outside unit. Just hold the nozzle about an inch out form the fins and going up and down with the ...
by Abe
Thu Jul 14, 2016 11:44 am
Forum: Personal Finance (Not Investing)
Topic: taking back a mortgage
Replies: 27
Views: 2643

Re: taking back a mortgage

The benefit to the seller when owner financing is not the interest rate on the mortgage. The benefit to the seller is his yield. A big part of his yield is in the discount, the difference in what he sells it for and what he paid for it. Lets say the seller originally paid $75k for the house and sel...
by Abe
Thu Jul 14, 2016 10:47 am
Forum: Investing - Theory, News & General
Topic: "How saving too much can make your retirement less satisfying"
Replies: 52
Views: 7561

Re: "How saving too much can make your retirement less satisfying"

"The people who are most effective for saving for retirement — who live frugally and manage to save a big piece of their income — get that so ingrained into their behaviors that by the time they retire with their healthy nest egg, they can’t turn the switch" I fall into this category. Bei...

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