Search found 2560 matches

by Abe
Thu Mar 14, 2024 5:45 pm
Forum: Personal Consumer Issues
Topic: Quaker Oats Recall Coupons Pretty much Useless
Replies: 9
Views: 1032

Re: Quaker Oats Recall Coupons Pretty much Useless

I cancelled my Comcast cable, so they sent me a $3.58 cent refund card. The only problem is I would have to have a lawyer interpret the instructions on how to redeem it. That's okay though, I'm just thankful I don't have to deal with Comcast anymore.
by Abe
Thu Mar 14, 2024 11:49 am
Forum: Investing - Theory, News & General
Topic: Calculating Time to $1MM and each $100k
Replies: 22
Views: 3128

Re: Calculating Time to $1MM and each $100k

"Que Sera Sera (Whatever Will Be, Will Be)"
by Abe
Fri Mar 01, 2024 5:27 pm
Forum: Personal Consumer Issues
Topic: Best Faucets for Bathroom Sinks?
Replies: 19
Views: 1778

Re: Best Faucets for Bathroom Sinks?

Another vote for Delta. I was at a Home Depot looking for faucets for my bathroom. I noticed a fellow who looked like he knew what he was doing, so I asked him what faucet he would recommend. He told me he was a plumber, and he had good luck with Delta products. He said you can always get replacement parts and they hold up well.
by Abe
Wed Feb 28, 2024 4:34 pm
Forum: Personal Consumer Issues
Topic: [On-going Scams - Post them here]
Replies: 1372
Views: 165390

Re: [On-going Scams - Post them here]

I just saw this morning on our local news station where scammers are recording quit claim deeds on homes in the area transferring the title from the rightful owners to them.
by Abe
Tue Feb 27, 2024 5:08 pm
Forum: Investing - Theory, News & General
Topic: Any Ideas on Future CD Rates?
Replies: 7
Views: 1927

Re: Any Ideas on Future CD Rates?

brainstorming wrote: Mon Feb 26, 2024 8:07 am I am asking for feedback about the expected SPAXX, 7-day yields in the next 1,3, 5 years. I realize this is hypothetical, but buying broker CD's requires I make some future assumptions. Currently 5 year, call protected, broker CD's are approximately 4.20 percent APY. Does that mean Issuers believe that is what SPAXX should be in 5 years? I am building a CD ladder that will used to pay a 60 month, promissory note.
What is the interest rate on the promissory note?
by Abe
Fri Feb 23, 2024 12:55 pm
Forum: Personal Investments
Topic: Seller finance rental vs sell out right
Replies: 12
Views: 914

Re: Seller finance rental vs sell out right

You can't just look at the interest rate on the note when making a decision as to owner finance or not. The OP's return could be much higher than 7%, depending on how much out of pocket he has invested in the property.
by Abe
Fri Feb 23, 2024 10:56 am
Forum: Personal Investments
Topic: Seller finance rental vs sell out right
Replies: 12
Views: 914

Re: Seller finance rental vs sell out right

What some people call "begging for trouble" looks like an opportunity to me. I have owner financed several rental properties, and I have even bought owner financed mortgages. In many cases, I made more money financing than I did renting. Is there risk? Sure, there's risk in everything, but I never lost any money doing it.
by Abe
Thu Feb 08, 2024 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Can mortgages be called?
Replies: 12
Views: 2170

Re: Can mortgages be called?

As long as you (borrower) comply with the terms of the loan documents, I don't see how the lender could call a mortgage loan due early. There could be a balloon payment in the mortgage, but that's a different thing.
by Abe
Fri Feb 02, 2024 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Scrap Silver
Replies: 21
Views: 2901

Re: Selling Scrap Silver

suemarkp wrote: Fri Feb 02, 2024 3:15 pm Go here: https://www.jmbullion.com/my-account/buyback-products/

Search for "90% silver" in the Find Your Product window on the buyback page. They are currently paying $15.10 per $10 face (this price changes by the minute).
If they are paying $15.10 per $10 of face value, they are not paying very much. You must mean $15.10 per dollar of face value. Do they charge any additional fees?
ETA I see $1,000 is the minimum amount JM Bullion will buy.
by Abe
Fri Feb 02, 2024 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Selling Scrap Silver
Replies: 21
Views: 2901

Re: Selling Scrap Silver

I have sold gold and silver to Midwest Refineries many times. Just go to their website to get information and instructions for sending. They pay 90% of the amount of pure silver in your coins. Pre 1964 coins have 90% silver. At the current spot price of silver $22.54, they would pay you 14.5 times per dollar of face value, so for each dollar of face value, they will pay you $14.50. If you have $300 face value, they should pay you about $4,350. Midwest Refineries 800-356-2955 4471 Forest Ave. Waterford, Michigan 48328 https://www.midwestrefineries.com/silver-buyer-brokers/ You can go to Ebay to see what commemorative coins are selling for. Go to the page where your coin is listed. Don't go by the listed price. On the left side of the page sc...
by Abe
Tue Jan 30, 2024 10:38 am
Forum: Personal Consumer Issues
Topic: Where to buy refurbished flat-screen TVs?
Replies: 10
Views: 1155

Re: Where to buy refurbished flat-screen TVs?

You can buy a new
TCL 32" Class 1080P FHD LED Roku Smart TV 3 Series 32S327
at Walmart for $199.99

https://www.walmart.com/ip/TCL-32-Class ... /409693367
by Abe
Tue Jan 09, 2024 1:33 pm
Forum: Personal Consumer Issues
Topic: Bottled water at airport lounges
Replies: 36
Views: 6804

Re: Bottled water at airport lounges

There used to be water fountains everywhere. At some point I noticed people were carrying bottles of water around. It seemed to be the thing to do. Like, "I'm so cool with my bottle of water". Anyway, the water fountains seem to be disappearing. I guess I'm showing my age.
by Abe
Mon Jan 08, 2024 2:14 pm
Forum: Investing - Theory, News & General
Topic: Ronald Read the Janitor who amassed 8 million
Replies: 104
Views: 24473

Re: Ronald Reed the Janitor who amassed 8 million

All about having high saving rate with low or zero debt, take some risks and have long duration. Not too hard. I agree with everything you said except the last sentence. My total W-2 income for my 25 working years was 3.1M pretax in California and after 28 years of investing I am sitting on a little over 10M NW with about 5.4M in stock portfolio at age 54. My stock portfolio should easily hit 15M at age 85 with no new contribution. It was not too hard. Do you realize that 3.1 million is a lot of money for some people. Maybe it was not that hard for you, but that doesn't mean it's not hard for some people. My point is that there are a lot of people struggling just to get by. I live in an economically depressed area where the per-capita inco...
by Abe
Mon Jan 08, 2024 10:27 am
Forum: Investing - Theory, News & General
Topic: Ronald Read the Janitor who amassed 8 million
Replies: 104
Views: 24473

Re: Ronald Reed the Janitor who amassed 8 million

carminered2019 wrote: Sun Jan 07, 2024 11:59 pm All about having high saving rate with low or zero debt, take some risks and have long duration. Not too hard.
I agree with everything you said except the last sentence.
by Abe
Thu Jan 04, 2024 5:41 pm
Forum: Investing - Theory, News & General
Topic: Won the Game Question
Replies: 77
Views: 14898

Re: Won the Game Question

White Coat Investor wrote: Thu Jan 04, 2024 5:33 pm
mickeyd wrote: Wed Jan 03, 2024 3:51 pmWhen did you know that you had won?
When I quit worrying about how much I was paying in income tax and started worrying about how much I would be paying in estate tax.
I don't worry about how much I'll pay in estate tax because I won't be here. :happy
by Abe
Tue Jan 02, 2024 2:03 pm
Forum: Investing - Theory, News & General
Topic: If you retired using the 4% rule and the market crashed 50% a week later?
Replies: 100
Views: 15968

Re: If you retired using the 4% rule and the market crashed 50% a week later?

Go back to your prior employer and beg them to let you come back.

Seriously though, I go by Dr. Bernsteins rule:
Bernstein recommends a rule of thumb, based on annuity payouts and spending patterns late in life, that you should have 20-25 times your residual living expenses (after pensions/Social Security) invested solely in safe assets. No stocks at all. This should be in TIPS, SPIAs, and short-term bonds. Anything above that, you can invest in riskier assets.
by Abe
Mon Dec 25, 2023 5:21 pm
Forum: Personal Consumer Issues
Topic: How to I (safely) heat a cold bedroom?
Replies: 49
Views: 5704

Re: How to I (safely) heat a cold bedroom?

jebmke wrote: Mon Dec 25, 2023 11:34 am Use an oil-filled unit such as this
https://www.amazon.com/DeLonghi-Comfort ... X0DER&th=1

or consider having a baseboard heating unit installed.

A more expensive solution would be to have a min-split heat pump installed to supplement central heat. I use on in an office area in my house. These are quite efficient but expensive up front.
I second the oil-filled heaters. I use them and they work fine for heating a room. Walmart has them for around $50.00.
by Abe
Mon Dec 25, 2023 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Financing a car, picking the best (not lease) terms.
Replies: 83
Views: 5157

Re: Financing a car, picking the best (not lease) terms.

This is my work (from an amortization calculator): 3.5 years at 1% - 42 payments of 1211.93 (PV discounted back at 5% = $46,607) 5 years at 1.49% - 60 payments of 865.28 (PV discounted back at 5% = $50,000) 6 years at 1.99% - 72 payments of 737.30 (PV discounted back at 5% = $$50,000) 7 years at 2.99% - 84 payments of 660.44 (PV discounted back at 5% = $46,727) You got the payment amounts correct (above). Using a financial calculator, I discounted each payment stream back to a present value using a 5% discount rate, and the lowest PV was the 3.5 year, 1% loan at $46,607. And this still cannot be right. If the discount rate is equal to the loan rate, the PV is equal to the principal, so if it is lower than the loan rate, the PV must be less...
by Abe
Mon Dec 25, 2023 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Financing a car, picking the best (not lease) terms.
Replies: 83
Views: 5157

Re: Financing a car, picking the best (not lease) terms.

I calculated the payments for each term and interest rate and then discounted each back to a present value at a 5% discount rate. The lowest present value was $46,607 for the 42 month 1% loan. Somewhere I think I got the math wrong. 3.5 years at 1% - 42 payments of 1211.93 5 years at 1.49% - 60 payments of 865.28 6 years at 1.99% - 72 payments of 737.30 7 years at 2.99% - 84 payments of 660.44 I'll do some short cuts to make the calculations easier. First, I'll assume interest rates on risk free investments are 5% no matter the duration of the investment. I'll assume no taxes as well. For discounting the value of the monthly payments in the future, I'll estimate this by doing for an aggregate total of ((# of payments x monthly payment amou...
by Abe
Sun Dec 24, 2023 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Financing a car, picking the best (not lease) terms.
Replies: 83
Views: 5157

Re: Financing a car, picking the best (not lease) terms.

I calculated the payments for each term and interest rate and then discounted each back to a present value at a 5% discount rate. The lowest present value was $46,607 for the 42 month 1% loan.
by Abe
Sat Dec 16, 2023 11:46 am
Forum: Personal Consumer Issues
Topic: trashmen tipping conumdrum
Replies: 73
Views: 11990

Re: trashmen tipping conumdrum

runner3081 wrote: Sat Dec 16, 2023 11:37 am Tipping is out of control.
:thumbsup
by Abe
Mon Dec 04, 2023 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Breaking mortgage payments as 2 bi-weekly pay
Replies: 8
Views: 1015

Re: Breaking mortgage payments as 2 bi-weekly pay

Why not just make one extra payment per year and apply it to principal.
by Abe
Mon Dec 04, 2023 11:15 am
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3606
Views: 562287

Re: Technically today I am a millionaire!

Way to go Calico. You are living proof that it can be done despite overcoming the hurdles that life throws at you. Congratulations.
by Abe
Thu Nov 30, 2023 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this $2M house in bay area?
Replies: 67
Views: 8638

Re: Can I afford this $2M house in bay area?

morpheus1958 wrote: Thu Nov 30, 2023 11:46 am I sincerely appreciate each and every reply _/\_

To update on this,

The house is going into bidding wars,

and seems like $2.2M is what it would take to buy this house.

I think it would be bit of a strech for us at that price point and we would pass on the house.
For what it is worth, I think you are doing the right thing.
by Abe
Tue Nov 28, 2023 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this $2M house in bay area?
Replies: 67
Views: 8638

Re: Can I afford this $2M house in bay area?

When I see post like this it makes me realize that there is a whole different world out there from where I live.
But, getting to the OP's question, I wouldn't say you can't afford the the house, but I wouldn't buy it.
by Abe
Fri Nov 24, 2023 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Switching Medicare Prescription Pharmacies
Replies: 31
Views: 2627

Re: Switching Medicare Prescription Pharmacies

cheese_breath wrote: Thu Nov 23, 2023 6:51 pm When my preferred pharmacy changes I just tell the old pharmacy to cancel all my prescriptions, and have my doctor send new ones to the new pharmacy.
This is what I do.
by Abe
Wed Nov 15, 2023 1:57 pm
Forum: Personal Consumer Issues
Topic: Medicare Part D Choices for 2024 available
Replies: 123
Views: 17949

Re: Medicare Part D Choices for 2024 available

Okay, thanks ModifiedDuration and ehh for the information.
by Abe
Wed Nov 15, 2023 11:28 am
Forum: Personal Consumer Issues
Topic: Medicare Part D Choices for 2024 available
Replies: 123
Views: 17949

Re: Medicare Part D Choices for 2024 available

I have Humana/Walmart part D plan and it's gone up to $33 a month. I'm thinking about switching to Wellcare which cost $1.60 per month. I called Walmart pharmacy where I get my prescriptions filled, but they cannot tell me how much my prescriptions will cost with Wellcare. How do I find out how much my prescriptions will cost with Wellcare before I sign up with them?
by Abe
Sat Nov 11, 2023 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Citi Promo ... 5.5% given for $100k in "new money"
Replies: 9
Views: 1824

Re: Citi Promo ... 5.5% given for $100k in "new money"

You can get 6 month Treasury Bills right now paying 5.5%. I just bought some thru Vanguard brokerage. Took about 5 minutes to do the transaction.
by Abe
Tue Nov 07, 2023 4:02 pm
Forum: Personal Consumer Issues
Topic: Holy FUNGUS GNAT flies
Replies: 46
Views: 5616

Re: Holy drain flies

They sort of look like mosquitos to me.
by Abe
Wed Oct 25, 2023 4:13 pm
Forum: Investing - Theory, News & General
Topic: Billionaire in 70 years???
Replies: 37
Views: 6901

Re: Billionaire in 70 years???

Benjamin Franklin did something like this: How much is Benjamin Franklin Trust worth? Franklin bequeathed the cities a total of $:2,000 sterling, with one hitch: much of the money could not be drawn on for 100 years, and the rest could not be distributed for 200 years. Today, what remains of Franklin's bequest is worth $6.5 million, and the legacy has become a matter of no small dispute. ETA: In his will, Benjamin Franklin left $2,000 to the city of Philadelphia and $2,000 to the city of Boston with the direction that it could not be drawn on for 100 years and could not be distributed for 200 years. The funds were invested and after the first 100 years, the funds began making personal loans to the citizens of Philadelphia. After the 200 yea...
by Abe
Sat Oct 21, 2023 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Prepay Daycare for Discount / Credit - make sense?
Replies: 22
Views: 1940

Re: Prepay Daycare for Discount / Credit - make sense?

stoptothink wrote: Fri Oct 20, 2023 7:43 pm We got a 15% discount for paying 6-month chunks in advance, and I used the opportunity to meet spend for CC churning. This was when money markets were paying <1%. No way would I do it now, without a bigger discount.
A 15% discount doesn't seem like much, but if you got a 15% discount for paying 6 monthly payments in advance, your rate of return would be 58%.
by Abe
Fri Oct 20, 2023 2:47 pm
Forum: Personal Consumer Issues
Topic: Will Dog Food Prices Go Back Down?
Replies: 24
Views: 2135

Re: Will Dog Food Prices Go Back Down?

stan1 wrote: Fri Oct 20, 2023 2:28 pm If everyone switches to basic Purina and Ol' Roy the price on the expensive stuff will come down.
I thought Purina and Ol' Roy were the expensive ones, but it's been a long time since I had a dog. Now, when I see dog food ad's, it seems like they are guilt tripping pet owners into buying the more expensive dog food. They say things like, "all of our recipes are made with human-grade meat and vegetables, which means that they are free from fillers and by-products". We used to give our dog table scraps. Would that be human grade? :happy
by Abe
Fri Oct 20, 2023 2:13 pm
Forum: Personal Consumer Issues
Topic: Will Dog Food Prices Go Back Down?
Replies: 24
Views: 2135

Re: Will Dog Food Prices Go Back Down?

In many cases, I think sellers jack prices up way more than inflation using the excuse that everybody knows we are having high inflation. I get it that inflation is high, but some are going up way more than the rate of inflation.
by Abe
Fri Oct 20, 2023 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Prepay Daycare for Discount / Credit - make sense?
Replies: 22
Views: 1940

Re: Prepay Daycare for Discount / Credit - make sense?

Just looking at the numbers, it looks like your option to prepay is to pay $25k now to stop paying roughly 11 payments of $2,400. If these numbers are correct, your return would be 11.74% if you prepaid. Using a financial calculator as follows: N (number of pmts)= 11.04, PV (present value)= $25k, PMT (payment)= $2,400, calculate I/YR (annual rate of return) 11.74%. However, as others have said, I would be reluctant to plunk down $25k not knowing whether the daycare center would stay in business 11 more months. Daycare centers go out of business all the time.
by Abe
Fri Oct 06, 2023 2:52 pm
Forum: Personal Investments
Topic: No more lump sums for me!
Replies: 83
Views: 11118

Re: No more lump sums for me!

Well, you know you're going to invest the money in the stock market. You're just not sure how to do it, lump sum or DCA. When I make decisions like this I sometimes just split it down the middle. Lump sum half the money and DCA the other half.
by Abe
Wed Oct 04, 2023 1:35 pm
Forum: US Chapters
Topic: Sad News - LadyGeek's Mom has passed
Replies: 158
Views: 37394

Re: Sad News - LadyGeek's Mom has passed

So sorry for your loss LadyGeek.
by Abe
Fri Sep 29, 2023 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Best options for short term loan for land purchase?
Replies: 12
Views: 1680

Re: Best options for short term loan for land purchase?

Carefreeap wrote: Fri Sep 29, 2023 12:39 pm
Watty wrote: Fri Sep 29, 2023 10:43 am Since you plan on paying it off in six months the interest rate does not matter a lot so a home equity line of credit would work easiest. One advantage of it is that if the sales does not go through for some reason you would not need to draw on it.
+1

And a common alternative is for a seller carry back. You'll need to talk to the agent to see if that's an option.
This
by Abe
Fri Sep 29, 2023 10:18 am
Forum: Personal Investments
Topic: Questions Before I Invest in T-Bills
Replies: 111
Views: 10119

Re: Questions Before I Invest in T-Bills

arca wrote: Tue Sep 26, 2023 6:12 pm
Abe wrote: Tue Sep 26, 2023 1:42 pm If you are concerned about the T-Bill maturing after Dec 31st, you can get 5.29% current rate in the VANGUARD FEDERAL MONEY MARKET FUND VMFXX.
The yield on MMFs fluctuates. Its best to buy a tbill whose yield doesnt change and hold it til maturity.
For short term (3 months in this case), it's not going to make much difference whether you invest in a 3 month T-Bill or the Money Market Fund. If you put the money in the Federal Money Mkt Fund, you can still buy T-Bills and fund the purchase from the Money Market Fund (settlement account).
by Abe
Wed Sep 27, 2023 11:20 am
Forum: Personal Investments
Topic: Is a tax lien certificate a good investment?
Replies: 8
Views: 1541

Re: Is a tax lien certificate a good investment?

This is my post from a previous thread on this topic: Yes, I bought tax certificates in Florida several years ago and my experience was not good. This is how it works in Florida. When people don't pay their property taxes, the county tax collector sells tax certificates for the amount of tax due plus cost. From the time you buy them until they pay off interest accrues at 18%. I think I bought around $10,000.00 of them at first. The owners paid them all off and I made 18%. On the second batch I bought, I'm sorry to say I talked my wife into investing some of her money in them. A lot of them did not pay off. The ones that did not pay off were all on lots in a subdivision called Sunny Hills. This is one of those places in Florida where they se...
by Abe
Tue Sep 26, 2023 1:42 pm
Forum: Personal Investments
Topic: Questions Before I Invest in T-Bills
Replies: 111
Views: 10119

Re: Questions Before I Invest in T-Bills

If you are concerned about the T-Bill maturing after Dec 31st, you can get 5.29% current rate in the VANGUARD FEDERAL MONEY MARKET FUND VMFXX.
by Abe
Fri Sep 22, 2023 3:43 pm
Forum: Personal Investments
Topic: selling rental home
Replies: 12
Views: 1698

Re: selling rental home

There is no reason for you to pay a manager if you are selling the house unless you agreed to that in the management contract. The management agreements I have with my property managers say that I can cancel our contract at any time with no penalty. They say nothing about owing a selling fee if the property sells. A lawyer or title company can handle the paper work involved in selling the house if you don't know how to do it yourself. It's not that complicated.
Edit: Most real estate brokers use a title company or lawyer to handle their closings, so you would be paying for that anyway plus the commission. You don't owe them a selling commission.
by Abe
Fri Sep 15, 2023 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Approaching mortgage lender to buy out loan?
Replies: 33
Views: 2724

Re: Approaching mortgage lender to buy out loan?

Is this the right way to understand this: Made up numbers here: A house was purchased at the agreed upon price of 500,000. A down payment of 20% was made and then borrowed 400,000 at 3%. The loan is say 3 years old - so has a balance remaining of 374,176 and 34,877 in interest has been paid. The mortgage holder, wants the lender to accept LESS than the 374,176 that is still owed to close out the loan? that doesn't sound like it benefits the lender all that much... Wouldn't it be in the Lender's best interest to call in the loan and if the mortgage holder can't pay it in full - for the lender to evict the mortgage holder and sell the house?? It benefits the lender because that asset (the mortgage) is not worth $374k currently. In today's in...
by Abe
Tue Aug 22, 2023 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Help Annette Keep Working and Not Retire
Replies: 648
Views: 62249

Re: Help Annette Keep Working and Not Retire

Keep working until you have a NW of 3 million then reevaluate.
by Abe
Tue Aug 22, 2023 10:56 am
Forum: Personal Finance (Not Investing)
Topic: How to Sell MIL's Jewelry?
Replies: 23
Views: 4113

Re: How to Sell MIL's Jewelry?

Midwest Refineries will pay 95% of the amount of pure gold in your jewelry. They do not pay any extra for stones. I have sold jewelry to them in the past. Address: 4471 Forest Ave, Waterford Twp, MI 48328 Phone: (248) 674-7305 https://www.midwestrefineries.com/ Stones (if worth selling) and gold should be sold separate so the stones would be removed before the metal was sold and sent in. Generally will get best total price is sales are to different entities. Gold to a refiner and stones to a jeweler who can use them in a new piece. I will add that Midwest Refineries will only pay for the actual gold content, that is what they call the melt value. If the pieces are real nice and in good condition, you might get more than melt value selling ...
by Abe
Mon Aug 21, 2023 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: How to Sell MIL's Jewelry?
Replies: 23
Views: 4113

Re: How to Sell MIL's Jewelry?

Midwest Refineries will pay 95% of the amount of pure gold in your jewelry. They do not pay any extra for stones.
I have sold jewelry to them in the past.
Address: 4471 Forest Ave, Waterford Twp, MI 48328
Phone: (248) 674-7305
https://www.midwestrefineries.com/
by Abe
Sat Aug 19, 2023 1:17 pm
Forum: Personal Investments
Topic: When does the power of compounding interest really kick in?
Replies: 113
Views: 25522

Re: When does the power of compounding interest really kick in?

Back when I was starting out, I periodically tallied up my meager savings, and they would be a little more than I expected. I didn't realize until later that it was because of compounding. I remember reading a book later titled "How to Wake up The Financial Genius Inside You" by Mark O Haroldsen. The book had an example of getting paid $1,000 per day for 35 days vs getting one cent the first day and doubling each day for 35 days. Obviously with the first choice, you would have $35k. With the second choice of 1 cent doubling, you would have $339 million.
Obviously we can't get 100% compounding per day, but that really drove home the power of compounding to me.
by Abe
Thu Aug 17, 2023 3:48 pm
Forum: Personal Consumer Issues
Topic: Rooftop Antenna Installation
Replies: 72
Views: 6045

Re: Rooftop Antenna Installation

I am in the same situation. Tired of paying Comcast 90 bucks a month for only local stations. I plan to put up an antenna for local stations. I have been told that if your home is wired for cable, you can plug the antenna wire in to your cable box and get reception for all TV's that are connected to cable. I think $2000 is way high just to put up an antenna. You may want to check out "The Antenna Man" on YouTube.
by Abe
Wed Aug 16, 2023 4:04 pm
Forum: Personal Investments
Topic: How long will this money last on
Replies: 5
Views: 1290

Re: How long will this money last on

nerdwallet.com has a calculator: How long will your savings last?
It says a 5% Annual investment return, Estimated tax rate: 0, How much do you currently have saved $343,000, Monthly distributions $2,000.
It says your money will last: 25 years

https://www.nerdwallet.com/article/inve ... vings-last
by Abe
Mon Aug 14, 2023 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Selling gold jewelry with diamonds
Replies: 8
Views: 2198

Re: Selling gold jewelry with diamonds

Jewelry is sort of like new cars. You pay retail price to the dealer, but once you drive it off the lot it's considered second hand. I buy gold, so have some experience. In most cases second hand jewelry is only worth the scrap value, also known as melt value. I don't pay any extra for precious stones including diamonds. Most places that buy gold, including jewelry stores, will pay 50% to 80% of the spot price based on the amount of gold in the pieces you are selling. Example: 14 karet gold has 58.3% gold content. If the pieces are real nice, you may be able to get more selling them as jewelry for someone to wear (not scrap) on Ebay.