Search found 1369 matches

by Abe
Mon Sep 19, 2016 3:15 pm
Forum: Investing - Help with Personal Investments
Topic: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]
Replies: 12
Views: 1504

Re: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]

Even if it's not a ponzi scheme, and it could be, there is still a good chance your friend could lose his money. It looks like they are buying existing mortgages or creating new mortgages secured by commercial real estate and issuing notes paying 6% supposedly secured by the real estate. What's to s...
by Abe
Mon Sep 19, 2016 11:51 am
Forum: Investing - Help with Personal Investments
Topic: New to investment - age 70
Replies: 22
Views: 2420

Re: New to investment - age 70

SeniorNovices wrote:3) Would it be advisable to increase the loan to our church to $50,000 (at 3% interest)?


I would not do this. If the church were to default on the loan, what would you do? It's hard to sue a church.
by Abe
Wed Sep 14, 2016 2:58 pm
Forum: Investing - Theory, News & General
Topic: WSJ: Bank Balance better predictor of happiness than Total Wealth
Replies: 43
Views: 6108

Re: WSJ: Bank Balance better predictor of happiness than Total Wealth

I think it's true because I just wrote a check for my tax estimate, and I'm not as happy as I was. :happy
by Abe
Tue Sep 13, 2016 11:20 am
Forum: Personal Consumer Issues
Topic: Huge pile of jewelry to sort
Replies: 13
Views: 1153

Re: Huge pile of jewelry to sort

I do this all the time. This is what I would do. Separate the jewelry into 3 piles. One pile for sterling silver, one for gold and one for not sure. You will need a loupe or good magnifying glass to check for marks. Most silver will be marked in some way. If its marked sterling, sterling silver, ste...
by Abe
Tue Sep 13, 2016 10:37 am
Forum: Personal Finance (Not Investing)
Topic: is it possible to be a gambler and boglehead
Replies: 47
Views: 2095

Re: is it possible to be a gambler and boglehead

I was always self employed but didn't have a high income either. I didn't follow the customary pay yourself first policy. I did just the opposite. I lived frugally, paid all my living expenses, and when I had a little extra in my bank account, I invested it. You don't have to track every penny and i...
by Abe
Mon Sep 12, 2016 4:55 pm
Forum: Investing - Help with Personal Investments
Topic: Municipal Bonds instead of CD's?
Replies: 23
Views: 2042

Re: Municipal Bonds instead of CD's?

I don't think we should drop the average duration point-of-indifference simplifying assumption for promoting understanding, but maybe we should drop it for predicting specific outcomes. Very well said (along with the rest of the post)! Kevin I've been trying to get a handle on duration so was glad ...
by Abe
Sat Sep 10, 2016 12:38 pm
Forum: Personal Consumer Issues
Topic: map frustration
Replies: 76
Views: 3779

Re: map frustration

Everyone does have a GPS now. It is called the smartphone.... Not everyone. I don't have a GPS, and I don't have a smartphone. Don't want them either. The paper maps I learned to read 60 years ago still work fine for me. I can get any map I need from AAA, plus every state I visit has tourist stops ...
by Abe
Fri Sep 09, 2016 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Prospective Employer Wants Salary History & Desired Salary
Replies: 265
Views: 18108

Re: Prospective Employer Wants Salary History & Desired Salary

I have not read all the post on this thread, so this may have been covered already. Also, I have no experience with this as I have always been self employed. But speaking strictly from my experience in negotiation, I can say you try to never give the person you are negotiating with information he ca...
by Abe
Thu Sep 08, 2016 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Tax Lien
Replies: 13
Views: 1027

Re: Tax Lien

First, I am not a lawyer. This is what it looks like to me. The ex-wife quit-claimed her interest in the property to the husband during the divorce, so the property should now be in the husbands name only on the record. The reason the IRS placed a lien on the property, which is now in husbands name ...
by Abe
Wed Sep 07, 2016 3:23 pm
Forum: Personal Consumer Issues
Topic: What makes people succeed?
Replies: 98
Views: 8349

Re: What makes people succeed?

In 1923, Babe Ruth broke the record for most home runs in a season. He also struck out more times than any other player in Major League Baseball.

Babe Ruth was not afraid to strike out. And it was this fearlessness that contributed to his remarkable career.
by Abe
Tue Sep 06, 2016 5:11 pm
Forum: Personal Consumer Issues
Topic: Tipping Practices
Replies: 18
Views: 1536

Re: Tipping Practices

I run into this very frequently. Both tipping for what is essentially counter service or self service, and also the practice of asking for the tip ahead the service. I think all these are ridiculous too, but I've given up, and I tip the standard 15% in all these cases. It's impossible to know the b...
by Abe
Tue Sep 06, 2016 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Self-made Millionaires: how did hitting 7 figures change you?
Replies: 299
Views: 39123

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

HomerJ wrote:$40,000 a year is pretty big chunk of that. Add in Social Security, and $1 million (and a paid-off-house) gives the same lifestyle as someone making $100k today. And you get to sleep in every day. :)

We should all count our blessings.


Amen to that.
by Abe
Sun Sep 04, 2016 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Self-made Millionaires: how did hitting 7 figures change you?
Replies: 299
Views: 39123

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

It is certainly the case, though, that if someone had told me that I would have the assets I have now, I would have assumed I would be done saving, if not entirely done working. But that was when I thought that 8% returns were reasonable. The world looks a little different at 3-4%. It sure does. It...
by Abe
Sat Sep 03, 2016 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: Self-made Millionaires: how did hitting 7 figures change you?
Replies: 299
Views: 39123

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

I can remember when I was making maybe around $12k a year. A million dollars was all the money in the world to me. Back then, probably in the sixties, savings accounts were paying 5.25%. I remember wishfully thinking, if I had a million dollars, I could draw $50k a year and never touch the principal...
by Abe
Sat Sep 03, 2016 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: The Richest Man in Babylon
Replies: 29
Views: 5340

Re: The Richest Man in Babylon

Miriam2 wrote:
Abe wrote:You can read it free online here:

http://www.ccsales.com/the_richest_man_in_babylon.pdf

Read it and you will find the secret to wealth. :beer

Abe! How did you find that pdf?! 8-)


I just googled: The Richest Man in Babylon. :happy
by Abe
Sat Sep 03, 2016 9:56 am
Forum: Personal Finance (Not Investing)
Topic: The Richest Man in Babylon
Replies: 29
Views: 5340

Re: The Richest Man in Babylon

You can read it free online here:

http://www.ccsales.com/the_richest_man_in_babylon.pdf

Read it and you will find the secret to wealth. :beer
by Abe
Tue Aug 30, 2016 3:25 pm
Forum: Personal Consumer Issues
Topic: How Does Your money Make Money?
Replies: 43
Views: 5074

Re: How Does Your money Make Money?

saltycaper wrote:Thanks. Makes more sense now. You might want to quote directly next time, with slavery being frowned upon throughout most of the world these days. Or even better, to rephrase.


I didn't think anyone would take it literally.
by Abe
Tue Aug 30, 2016 2:41 pm
Forum: Personal Consumer Issues
Topic: How Does Your money Make Money?
Replies: 43
Views: 5074

Re: How Does Your money Make Money?

That invested dollar is like having a slave working for you only it's working 24 hours a day. Once you get enough slaves working for you, you can quit working. You have arrived. I'm really wracking my brain for a positive way to read this. Hmm . . . I got nothing. :? "Every gold piece you save...
by Abe
Tue Aug 30, 2016 10:34 am
Forum: Personal Consumer Issues
Topic: How Does Your money Make Money?
Replies: 43
Views: 5074

Re: How Does Your money Make Money?

To the OP. When I was your age and younger, I was doing the same thing you are: looking for a way to get money working for me. I'm still doing it. I hope I've learned a few things along the way. You can work for money, or money can work for you, or a little of both. When working for money, just reme...
by Abe
Sun Aug 28, 2016 10:42 am
Forum: Investing - Theory, News & General
Topic: Retirees Saying No To The Market
Replies: 57
Views: 7333

Re: Retirees Saying No To The Market

" We were actually brought up to think that stocks and other investments were sinful because they were just a way for 'those kind of people' to steal money from 'our kind of people'. I had forgotten that was a common saying in my youth. I remember this from my uncle "They are just after y...
by Abe
Sun Aug 28, 2016 10:22 am
Forum: Personal Consumer Issues
Topic: Favorite Restaurant Stop on Road Trips
Replies: 142
Views: 9538

Re: Favorite Restaurant Stop on Road Trips

Some good greasy chicken at Kentucky Fried Chicken, original or extra crispy. My local KFC had 3 pieces of chicken for $2.49... nothing extra, just chicken. It wasn't posted on their menu board because they want you to buy their more expensive combos. Alas, the last time I went, that deal had gone u...
by Abe
Thu Aug 25, 2016 4:07 pm
Forum: Personal Consumer Issues
Topic: Get rich quick?
Replies: 52
Views: 9039

Re: Get rich quick?

When I was younger, I used to think about such things. As I got older, I realized that it doesn't quite work that way. Not to say it's impossible. After all, someone will win the lottery. But it's not that easy to get rich, and it's much harder to get rich quick. To get rich slowly is more attainabl...
by Abe
Wed Aug 24, 2016 5:42 pm
Forum: Personal Consumer Issues
Topic: Get rich quick?
Replies: 52
Views: 9039

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: 142
Views: 9538

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: 540

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: 540

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: 540

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: 3416

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: 3416

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: 299
Views: 39123

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: 299
Views: 39123

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: 299
Views: 39123

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: 8302

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: 4245

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: 617

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: 617

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: 617

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: 8129

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: 13
Views: 4223

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: 8129

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: 97
Views: 5921

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: 2403

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: 13
Views: 4223

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: 9018

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: 1077

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: 7361

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: 1217

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: 5364

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...

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