Search found 20 matches

by Pudge
Sun Sep 22, 2019 12:01 pm
Forum: Personal Investments
Topic: Where should we cut back saving/investing?
Replies: 58
Views: 6250

Re: Where should we cut back saving/investing?

Maybe you collect stamps, or antique coins, and could turn this collection into a small fortune by the time you retire. Maybe you have great artistic skills or you like to collect antique cars. Just think about all the ways that you can get super creative to double and triple your income. I have to...
by Pudge
Tue Sep 17, 2019 6:10 pm
Forum: Personal Investments
Topic: Where should we cut back saving/investing?
Replies: 58
Views: 6250

Re: Where should we cut back saving/investing?

Maybe you collect stamps, or antique coins, and could turn this collection into a small fortune by the time you retire. Maybe you have great artistic skills or you like to collect antique cars. Just think about all the ways that you can get super creative to double and triple your income. I have to...
by Pudge
Sat Sep 14, 2019 8:22 am
Forum: Personal Investments
Topic: Where should we cut back saving/investing?
Replies: 58
Views: 6250

Re: Where should we cut back saving/investing?

Unless you have a definitive time frame with a definite position in mind, then this isn't really an income strategy. I do. Secondly, don't plan on the pension. If it is there when you retire, fine. Pensions are going bust all over the country, and it will only get worse. The federal government is b...
by Pudge
Thu Sep 12, 2019 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Hard Money Loans
Replies: 34
Views: 5795

Re: Hard Money Loans

I have been lending to commercial borrowers my entire career. What I would tell you is that the learning curve is steep. I still learn new nuances every day. Laws change. Real Estate markets change. Regulations change. If you are really interested in the lending business, whether residential or comm...
by Pudge
Thu Sep 12, 2019 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Expecting a lay off w/ severance - next steps?
Replies: 16
Views: 2830

Re: Expecting a lay off w/ severance - next steps?

First, I would say, don't count your chickens before they hatch. Deals go sideways all the time, even when you think you have every legal assurance under the sun. So the first game plan is to actually get the funds in hand, work with a competent and trustworthy CPA to give you tax advice. Hopefully,...
by Pudge
Thu Sep 12, 2019 8:48 pm
Forum: Personal Investments
Topic: Where should we cut back saving/investing?
Replies: 58
Views: 6250

Re: Where should we cut back saving/investing?

Instead of thinking about where to cut expenses, start thinking more about what you can do to increase your income. Not by working longer hours, but by working smarter, not harder. Smarter, more strategic, more focused, more goal-oriented. Secondly, the idea that you are going to increase your incom...
by Pudge
Tue Sep 10, 2019 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage early - am I thinking about this right?
Replies: 127
Views: 11065

Re: Paying off mortgage early - am I thinking about this right?

We recently paid off our mortgage in full. We did it in chunks - tax refunds, annual bonuses, gifts, and the like. Whenever we had some unexpected money, we threw it at the house mortgage. Unexpected check from a relative? Throw it at the house. When rates plummeted, we changed our 30 year mortgage ...
by Pudge
Tue Sep 10, 2019 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: Right questions to ask before joining a start up?
Replies: 16
Views: 1301

Re: Right questions to ask before joining a start up?

Great feedback from all the posters. I would really hammer away on the character of the founders. My best advice: Be a quiet, silent, stealth detective on the founders of the company. Study their LinkedIn profiles, and look for any information on Google such as lawsuits, arrests, etc. Check out thei...
by Pudge
Mon Sep 09, 2019 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: Banks requiring fingerprint on a check for non-customers to receive cash
Replies: 87
Views: 5719

Re: Banks requiring fingerprint on a check for non-customers to receive cash

At a big bank such as BOA, Citi, Wells, Chase, etc., this fingerprint requirement is the norm. You have to understand that the sheer volume of check fraud in some parts of the country is astronomical. Some of these retail branches are dealing with check fraud multiple times a week. The fraudsters ar...
by Pudge
Mon Sep 09, 2019 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Help me out - What am I doing wrong - Job Hunt related
Replies: 70
Views: 5030

Re: Help me out - What am I doing wrong - Job Hunt related

One of the things that you want to think about is that these are "cold call" interviews, which are the hardest and most difficult. 1 out of 10 on a good day might be successful. What you really want is a "godfather" type of situation where you get a warm referral to a decision-maker. That means garn...
by Pudge
Mon Sep 09, 2019 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Hard Life Changes - Help With Looking For Employment After 10 Years
Replies: 38
Views: 3886

Re: Hard Life Changes - Help With Looking For Employment After 10 Years

First, I think you might consider talking to a highly qualified "career coach". Do some homework, research online, ask your friends, and invest the time and money to work with a career coach that can help you. I had a career coach about 10 years ago, and the exercise of working with a coach really h...
by Pudge
Mon Sep 09, 2019 6:26 pm
Forum: Personal Investments
Topic: need help with strategy to sort out parent's finances
Replies: 28
Views: 3510

Re: need help with strategy to sort out parent's finances

+1 everyone The Real Estate Owned (REO) isn't investment property. These are more like personal property, i.e. toys. With so much family drama attached to the properties, I'd avoid messing around with them until one person passes and the need to address the overhead rises in importance. However, re...
by Pudge
Sun Sep 08, 2019 9:15 pm
Forum: Personal Investments
Topic: need help with strategy to sort out parent's finances
Replies: 28
Views: 3510

Re: need help with strategy to sort out parent's finances

Thank you all very much for your responses! The properties are: A family farm (has been in the family for about 100 years but not been productive in any way for the last 40 years. It may be able to sell for 500-600K but folks say they won't sell it for less than a million. It has low property tax a...
by Pudge
Sun Sep 08, 2019 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: When to give notice
Replies: 29
Views: 3767

Re: When to give notice

Because you are leaving to go work for a competitor, expect that the moment you give your 2 weeks notice, that you will be expected to leave the office immediately and turn in your badge, laptop, or any other company-related items. That means that you need to have your desk cleaned of all personal e...
by Pudge
Sun Sep 08, 2019 1:59 pm
Forum: Personal Investments
Topic: need help with strategy to sort out parent's finances
Replies: 28
Views: 3510

Re: need help with strategy to sort out parent's finances

I have recently been asked by my mom to look over my parents financial situation and found some concerning investments and overall strategy in their finances and would greatly appreciate some Boglehead valuable advice! My folks have been extremely thrifty and hard working and have been good savers ...
by Pudge
Sun Sep 08, 2019 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Paying "early" on mortgage may be unwise
Replies: 229
Views: 20399

Re: Paying "early" on mortgage may be unwise

"we were able to become completely debt-free and unleash our income for wealth generation." After the mortgage was paid off, what did yo invest in and what was the AA (stocks/binds)? "A debt-free Balance Sheet also allows you to more easily weather the blindsides of job losses, recessions, stock ma...
by Pudge
Sat Sep 07, 2019 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: Paying "early" on mortgage may be unwise
Replies: 229
Views: 20399

Re: Paying "early" on mortgage may be unwise

Decision-making should be balanced. You have to weigh both the mathematical, quantitative facts with the qualitative. In our case, by strategically chiseling at the mortgage over time, we were able to become completely debt-free and unleash our income for wealth generation. A debt-free Balance Shee...
by Pudge
Sat Sep 07, 2019 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Paying "early" on mortgage may be unwise
Replies: 229
Views: 20399

Re: Paying "early" on mortgage may be unwise

Decision-making should be balanced. You have to weigh both the mathematical, quantitative facts with the qualitative. In our case, by strategically chiseling at the mortgage over time, we were able to become completely debt-free and unleash our income for wealth generation. A debt-free Balance Shee...
by Pudge
Sat Sep 07, 2019 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Paying "early" on mortgage may be unwise
Replies: 229
Views: 20399

Re: Paying "early" on mortgage may be unwise

Decision-making should be balanced. You have to weigh both the mathematical, quantitative facts with the qualitative. In our case, by strategically chiseling at the mortgage over time, we were able to become completely debt-free and unleash our income for wealth generation. A debt-free Balance Sheet...
by Pudge
Sat Sep 07, 2019 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Paying "early" on mortgage may be unwise
Replies: 229
Views: 20399

Re: Paying "early" on mortgage may be unwise

We recently paid our home mortgage in full. 100% debt-free. What this will allow us to do moving forward is to apply a very sizeable part of our monthly cash flow towards retirement. We originally had a traditional 20% down 30 year mortgage at a competitive rate. When mortgage rates plummeted to all...