Search found 754 matches

by steadyeddy
Tue May 17, 2011 8:16 pm
Forum: Personal Consumer Issues
Topic: Optimist or Pessimist on USA?
Replies: 57
Views: 15747

KyleAAA wrote:Optimist. The USA will probably no longer be the world's only or even most powerful superpower in 100 years, but it will still be prosperous and among the richest nations in the world. Does anybody really think the UK is that bad off right now? They were in our position about 100 years ago. Doesn't seem too bad to me.
This is my stance. My parents saw their standard of living increase ~450% by some estimates. Should I feel saddened if we cannot reproduce those results? My education and background predispose me to be in the top 20% of U.S. earners even if I don't try too hard, so my standard of living is likely to be comfortable even if America's wealth does begin to decline. I fear more for those who are already struggling.
by steadyeddy
Tue Apr 26, 2011 1:41 pm
Forum: Personal Consumer Issues
Topic: "Free" Monitor
Replies: 9
Views: 5876

Re: "Free" Monitor

Teaser promotions are everywhere. I don't find this one compelling. To review:

Worth the hassle
http://www.britishairways.com/travel/cr ... acb214b2f7

Not worth the hassle
http://landing.optionshouse.com/promo/dell
by steadyeddy
Tue Apr 26, 2011 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: Amex Blue Cash card - deceptive marketing
Replies: 33
Views: 11521

I find credit cards and their small print to be a bit of a "buyer beware" industry. Even so, they are a good deal for the consumer versus paying with cash for the same items.
by steadyeddy
Mon Apr 25, 2011 11:24 pm
Forum: Personal Consumer Issues
Topic: Local Sandwich Shop, Your Cash is no Good.
Replies: 82
Views: 9608

I go for months without having cash in my wallet. When I do have it, I feel a little bit strange about using it--as though I'm bartering for my goods with another physical commodity. I especially hate receiving coins as change and often drop it into the tip jar to avoid carrying it. This drives up the cost of using cash for me. All this to say that I love my cards.

Still, I'm looking forward to the advent of "frictionless" payment services. The pile of middlemen taking cuts from my credit swipe is probably the most medieval thing in modern banking, and needlessly so.
by steadyeddy
Sat Apr 23, 2011 2:16 pm
Forum: Personal Investments
Topic: "100% stock funds up to $100K" advice from retired
Replies: 26
Views: 3771

dbr wrote:No one should ever follow a strategy based on "I read somewhere that Joe Blow says . . . " What a person should do is read and follow discussions for long enough that one can say to oneself, "I say . . ."
I say this sounds like wisdom...
by steadyeddy
Sat Apr 23, 2011 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Price/Rent Ratio of your house or apartment
Replies: 41
Views: 5694

Zillow says my apartment is worth about $105k. It puts the ratio for my apartment at just below 12.

Likewise, it values my friend's condo at a few thousand more for which he pays a mortgage similar to my rent. But he pays also about $250/mo in HOA fees and heating costs while my costs end with my rent payment. This is what keeps me renting rather than purchasing a similar condo.

How do HOA fees factor into this discussion?
by steadyeddy
Sat Apr 23, 2011 11:32 am
Forum: Investing - Theory, News & General
Topic: What would you do with 15m?
Replies: 52
Views: 8746

GammaPoint wrote:
marco100 wrote:Is that 15 million before or after taxes?
I'd say after. There's not much you can buy with $15M before taxes.
:lol: :lol:
by steadyeddy
Sat Apr 23, 2011 10:58 am
Forum: Personal Investments
Topic: Multi million dollar inheritance where do i start
Replies: 117
Views: 20401

Okay, but you've gotten the answer a dozen times. A 5% withdrawal rate will not last 40 years unless you get a consistent return of 4% over the entire period. That might work, and it might not. Also, your idea of ignoring inflation is a bad one. That said, doing it for 10-20 years and then reevaluating would be harmless. You could do whatever you want. I would plan for 2% real return and my SWR would be 3.66% adjusted for inflation. He said he is planning on withdrawing 5% of the total portfolio each year--a variable amount. To me this sounds like sure way to withdraw less than you hoped to spend throughout much of your retirement. rcole33856, I hope you will consult a fee-based planner to form a comprehensive plan for both your retirement...
by steadyeddy
Wed Apr 06, 2011 10:47 am
Forum: Personal Finance (Not Investing)
Topic: College costs over family budget - write letter?
Replies: 79
Views: 9876

that being said, i would ask that you look into the child footing the whole bill.. children put in more effort when its "their" money or loan, and you cant borrow for your retirement, getting a loan for school isnt difficult.. Kids work harder when it's THEIR money, but a loan doesn't always register the same. It's hard for many 18-year olds to visualize what $80k in loans actually means. Each kid who takes out a loan should be given a loan amortization table that shows amount borrowed, monthly payments required, total interest paid, total cost effect of principal payments and interest payments. Add a big colorful pie chart or bar chart to illustrate just how costly that loan will be. Then it should be explained that 120 monthly ...
by steadyeddy
Sun Mar 20, 2011 5:04 pm
Forum: Personal Consumer Issues
Topic: Disney World - Any tricks on pricing?
Replies: 36
Views: 6199

I would hop on linkedin and find out who I know that could throw a bundle of passes my way. In my experience, they have been very generous in allowing employees to bring friends and family in for free.
by steadyeddy
Sun Mar 20, 2011 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Does it make sense for an employee to own a house?
Replies: 31
Views: 4516

Re: Does it make sense for an employee to own a house?

VictoriaF wrote:The bottom line is that renting is a choice, and in many cases it is a prudent choice. It enhances one's flexibility and facilitates opportunities to increase one's lifetime earnings. Furthermore, it protects one from putting resources into house improvements such as proverbial kitchen expansions and granite counter-tops.Victoria
Of course most newer rental units, even inexpensive apartments, now include granite counter-tops!

I believe the greatest misconception about renting is that all rentals are tired, cramped apartment units. If the excess housing inventory in my area takes as long to clean out as I expect it will, I imagine I might one day rent a relatively opulent single family home rather than buy it.
by steadyeddy
Sat Mar 12, 2011 8:19 pm
Forum: Personal Consumer Issues
Topic: Bing versus Google challenge
Replies: 19
Views: 2920

I try to avoid Bing after reading about their weak attempts to rip off Google's work:

http://googleblog.blogspot.com/2011/02/ ... earch.html
by steadyeddy
Sat Mar 12, 2011 12:57 pm
Forum: Personal Investments
Topic: Vanguard oughta offer "midshipman" accounts
Replies: 94
Views: 11843

I fall into the age group in question, and I know my friends gravitate toward companies with low minimums because they are hesitant to make a commitment with big chunks of money. But then they generally like to speculate in those small accounts. The other night I had coffee with a friend who told me that he wanted to start investing now that he had finally accumulated $500 to do it with. What was he planning to invest in? Penny stocks! I told him I thought his plan was gambling, not investing, but he assured me that he was going to use a website to figure out which ones were going up! I guess my limited experience is that the majority of my friends are not going to be in Vanguard's target market for a few years. They are generally willing t...
by steadyeddy
Wed Mar 09, 2011 3:23 pm
Forum: Personal Consumer Issues
Topic: Do you prefer doing business with a public/private company?
Replies: 15
Views: 2372

Even if all else were equal, I don't think it would cross my mind.
by steadyeddy
Tue Mar 08, 2011 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Las Vegas Ground transportation
Replies: 17
Views: 2139

JupiterJones wrote:The main "sneak routes" are Industrial Road and Frank Sinatra Blvd on the west side, and Audrie and Koval streets on the east side. Once you figure out how to navigate those, you're in business.
The locals do NOT want this information to get out!

Neither do the cab drivers who make $24/hr while they idle!
by steadyeddy
Sat Mar 05, 2011 11:08 pm
Forum: Investing - Theory, News & General
Topic: Is 100% equities really that risky for young investors?
Replies: 127
Views: 21397

Re: Is 100% equities really that risky for young investors?

It seems pretty ridiculous to use a time period of 1 year when the investor can be reasonably sure that his investment won't be cashed out for several years or even decades (this is made possible with an emergency fund covering >6 months expenses + a steady income). So for these investors, why not measure risk as the standard deviation of returns on a 5, 10, or 20 year basis? That might be fine when you're young. But at some point your horizon will be less than 10 years. At that point, you can't afford to look at standard deviation over 10 years unless you're also willing to postpone retirement 10 or more years. So when would you begin to cash out of stocks to ensure that short-term volatility doesn't crush your nest egg when you finally n...
by steadyeddy
Sat Mar 05, 2011 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Why am I such a tight-wad?
Replies: 85
Views: 12772

gkaplan wrote:To the control freak poster:

You're being extremely insensitive to someone you know nothing about. She's been very open here, and you have no call to say what you said.
Agree. I felt it was a rude post, and unwarranted. Would you like us to feel sympathy for your significant other?
by steadyeddy
Sat Mar 05, 2011 11:47 am
Forum: Personal Consumer Issues
Topic: check out checks at sam's , best buy etc.
Replies: 74
Views: 8399

About once a month, my wife and I stop at Costco to pick up two or three items. I believe we are consistently the only people in Costco that do not have or need a cart. We always make this shopping run after church, and the store is always packed at that time. I do dislike waiting in line for five minutes for someone to verify that we paid for our two or three items which are displayed so prominently in our arms. But we still go back and get those same items each time we run out because the utility of the unique products and low pricing far outweigh any objection to waiting in line for a few minutes.

You take the bad with the good in life. We're lucky that the former is so sparse amidst the latter.
by steadyeddy
Tue Mar 01, 2011 11:02 pm
Forum: Personal Consumer Issues
Topic: Bye Bye Microsoft- Hello Mac!
Replies: 193
Views: 28231

Re: Welcome to the Mac "fraternity"

infecto wrote:
blevine wrote:
jpsfranks wrote: Ironically, unlike most Apple software, iTunes is a bloated piece of garbage.

Edit: I did not read infecto's post before posting.
What do you expect on Windows ?
I assume itunes works better on a Mac but haven't had the pleasure.
Sorry, nice attempt at hashing up a childish argument but its trash on either OS.
Itunes averages 59MB of real memory usage for me.
by steadyeddy
Thu Feb 24, 2011 2:41 am
Forum: Personal Consumer Issues
Topic: Shaving Implements
Replies: 58
Views: 9726

I bought a Merkur and all the fixings off Amazon after reading a thread similar to this one on this site. I found the DE shave to be very nice, but very time consuming. I thought I would learn to do it faster, or learn to enjoy the long shave, but neither has happened. I went back to my old disposable razor that does 3/4 as good of a job as the DE razor in 1/3 of the time.

You're welcome to purchase my lightly used Merkur razor, 80 unused blades, badger brush, and stand at fire sale prices! I personally regret my "investment." :(
by steadyeddy
Sat Feb 19, 2011 2:46 pm
Forum: Personal Investments
Topic: Whole Life Insurance
Replies: 97
Views: 14758

BruDude wrote:How about a divorce? You're married at 30, live happily married for a while, saved up $1 million for retirement already. You just had two kids at age 45 because you're the man and you have a smoking hot 30 year old wife. Oops, wife now wants a divorce and half your assets plus child support for the two kids.
Marrying a 15 year old girl certainly seems like it might be a recipe for divorce. :lol:
by steadyeddy
Fri Feb 11, 2011 6:02 pm
Forum: Personal Investments
Topic: Bank "Financial Check-Ups"
Replies: 26
Views: 3539

Wells Fargo tries to sell me a mortgage every time I go in to make a deposit. I find it a bit wearing, but if I ran a bank, I know I would use the same practice.
by steadyeddy
Fri Feb 04, 2011 2:00 pm
Forum: Personal Investments
Topic: Is it ever really neccessary to invest in taxable accounts?
Replies: 75
Views: 11492

SSSS,

Half of the alternative investments you suggest *are* taxable investments!
by steadyeddy
Thu Feb 03, 2011 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Did college cost you full list price?
Replies: 105
Views: 17407

Full tuition merit scholarship for my undergrad degrees funded by the university; 162 credit hours. Full tuition merit scholarship for grad degree funded by an outside foundation; 144 credit hours.

I feel very lucky to have received this type of financial aid, because salaries in my field are low. Some of my peers have taken on $150k in debt to train for a career with an average salary of $60k. There is no way this disparity in tuition and salary is sustainable.
by steadyeddy
Tue Feb 01, 2011 9:05 pm
Forum: Investing - Theory, News & General
Topic: The "value" of some stocks?
Replies: 37
Views: 3062

Febreze wrote:Even if a company pays no dividends, the furniture and computer monitors can be sold off, so it's worth something.
No, the computers do not generate positive cash flow, so they are not assets! :lol: :roll:
by steadyeddy
Fri Jan 14, 2011 3:52 pm
Forum: Investing - Theory, News & General
Topic: (Rant) Article that perfectly embodies the Big Lie
Replies: 28
Views: 6326

But I am also contemplating an American economy dominated by downsizing, outsourcing, globalization, and deindustrialization, and I'm thinking of studies showing that inflation–adjusted wages in the U.S. have been mostly stagnant for over 30 years. I think there's a fear among many people (of various ages, not just the young featured in the linked article) that With all the other costs of living and/or mortgage and/or children and/or medical expenses, and/or [complete list], I will never be able to save enough from my wa g es alone to have a decent retirement. And in the current economic environment, such fear, IMO, may be fact–based and quite justified. Anyone can save enough to retire if they merely increase their savings rate. I believe...
by steadyeddy
Fri Jan 07, 2011 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Continually Underwhelmed by Ally Bank
Replies: 15
Views: 4154

Another satisfied customer using Ally primarily for CD's. I am sorry to hear their customer service department has treated you so badly.

I cannot understand why companies won't pay to hire competent customer service personnel. I just recently had a horrendous customer service experience with LG Electronics that made me angry enough to commence a personal boycott. Surely any cost savings that precipitated this incident will merely be subtracted from the top line in future decades.
by steadyeddy
Thu Jan 06, 2011 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Financial Concern for my Mother in Law
Replies: 16
Views: 2674

At those prices I would have to think long and hard about living out my days in an all-inclusive resort rather than a nursing home. No doubt I would die sooner without so much medical care, but then that's bound to happen sooner or later!

I don't suppose medicaid would cover it. That's a shame, because the costs would be lower, and the duration of care shorter! I wonder if I could fund a career as a Cancun-based lobbyist with this plan...
by steadyeddy
Wed Jan 05, 2011 12:55 pm
Forum: Personal Investments
Topic: The mechanics of maintaining AA
Replies: 8
Views: 1383

Beware that Otar's "Unveiling the Retirement Myth" and any others that say rebalance every 4 years since it is pure data mining. Suppose I said you should rebalance in March 2000 and March 2009. Knowing what you know happened in those years, it should make sense. I think the 4-year rule just happens to fit some big crashes like 1929 nicely. I didn't hope to outperform. I only liked the idea of less involvement still achieving satisfactory results. I now understand that some upkeep is to be expected. For me, however, I think I might plan to let my AA deviate substantially until the portfolio balance grows large enough that is naturally compels my interest and attention. Frankly, I worry any habits of tinkering at this stage will h...
by steadyeddy
Wed Jan 05, 2011 12:02 pm
Forum: Investing - Theory, News & General
Topic: Can a fiat currency be created without a commodity or land?
Replies: 5
Views: 1123

Re: Can a fiat currency be created without a commodity or la

I finally understand how we create money today in the US. However, I started thinking if you keep on working backwards 100's of years that originally an established country could only exist and issue currency if it has a natural resource (before human capital became an asset) or land it can provide to exchange for someone elses commodity or currency. The US started issuing currency to exchange with others because it originally had cotton, tobbaco, and other natural resources. Correct? Yes, my understanding is that fiat currency is a substitute for commodities in a barter system, and its substitutionary value is enforced legally. If there is no recognized court of law nor commodities to back the currency, fiat currency is unlikely to be acc...
by steadyeddy
Wed Jan 05, 2011 11:57 am
Forum: Personal Investments
Topic: The mechanics of maintaining AA
Replies: 8
Views: 1383

Re: The mechanics of maintaining AA

Are you stuck in a situation where you have to speak to someone personally, hopefully not someone in HR, to accomplish investment direction in your 401K? I was previously in such a situation, but have now left that workplace and rolled over the account. It sounds likely that I can expect to have web access in the future. What I am hearing makes sense, but then it only shifts the focus of my question from the contributions to the rebalancing. It seems to me that annual rebalancing is next to worthless, at least until an accumulator's nest egg is quite sizable compared to annual contributions. I am just lazy enough to be interested in rebalancing only every four years as suggested in The Retirement Myth, but then it seems as though I'll have...
by steadyeddy
Wed Jan 05, 2011 11:02 am
Forum: Personal Investments
Topic: The mechanics of maintaining AA
Replies: 8
Views: 1383

The mechanics of maintaining AA

I have a very basic question about the simple mechanics of maintaining a desired AA, specifically in an employer sponsored retirement account. Imagine that my desired allocation is 50/50. I direct my 401k contributions to distribute 50% into TSM and 50% to TBM. Stocks outperform, and in merely six months, my allocation is 75/25. Lucky me. Would I then continue to divide new money 50/50 and rebalance after 12 months had fully elapsed? Would I constantly change the destination of new money to keep my AA, and annoy HR in the process, before rebalancing at 12 months? Would I direct my contributions into cash and invest them in funds manually to avoid this problem to an extent? This example is assuming I desire to use annual rebalancing, without...
by steadyeddy
Wed Jan 05, 2011 10:44 am
Forum: Personal Consumer Issues
Topic: Gmail Security & China
Replies: 13
Views: 2669

My account has been hacked and spammed from an IP in China. Just this morning I got a spam email from an acquaintance whose account had been similarly hacked. These things are an annoyance, but not a threat that will change my behavior.
by steadyeddy
Tue Jan 04, 2011 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: What do you love/hate about house you didn't expect?
Replies: 99
Views: 11400

Have you tried renting a house before you buy? I don't mean the same one, I just mean to try it out. My wife and I did that, and we learned a LOT. 1) I don't like yardwork as much as I thought I would (although this could change if I actually owned the place and cared more about it). 2) Newer suburbia homes sometimes have master bathrooms that "flow" into the master bed--this is awful. Make sure you get a door on your bathroom. 3) Large, open floorplans with living and family rooms on the same level are silly--furniture is duplicated and we never used both spaces. It's more useful to have a "bonus" room on a different floor so it's more isolated. 4) Houses' utilities are about double that of townhomes. This can actually...
by steadyeddy
Tue Jan 04, 2011 1:05 pm
Forum: Investing - Theory, News & General
Topic: Measuring Net Worth in Income Stream
Replies: 9
Views: 1720

This is the same method of understanding wealth used the the Jane Austen BBC films of which my wife is so fond. My understanding from Austen is that these amounts reflect the annual rental income the landed gentry received from their renting their land holdings. I imagine that passive investment was a bit sparse in those days.
by steadyeddy
Thu Dec 09, 2010 11:39 pm
Forum: Personal Finance (Not Investing)
Topic: What is my retirement number - selling my business
Replies: 5
Views: 1464

Is our nest egg simply going to be the amount I have remaining after the sale of my company + the 325k we currently have in retirement?
Yes.

I think the only math you need to do is subtract your current savings from the $2.5M. That number is the amount you need to sell your business for in order to sustain a $75,000 income at a 3% withdrawal rate. That looks something like:

$325k + $80k -32k = $373k

$2.5M - $373k = $2,127,000 in net profits from the sale to retire today

To me, it makes no sense to think of your retirement accounts and your company-sale profits as separate buckets of your nest egg.
by steadyeddy
Fri Nov 19, 2010 2:49 pm
Forum: Personal Consumer Issues
Topic: Tipping at restaurants
Replies: 67
Views: 7895

kozabelle wrote:Geesh, how long does the server think it takes the diner to review the bill and then pull out the credit card.
This is generally more indicative of staffing levels than server competence. A high end restaurant will maintain one server for every 1-3 tables. A value-price national chain requires each server to take 6-30 tables. The server in the nicer restaurant will get fewer, larger tips. The server in the mediocre establishment will get numerous, smaller tips. These two servers have very different skill sets and very different job descriptions. You as a customer get what you pay for in either case.
by steadyeddy
Fri Nov 19, 2010 1:31 pm
Forum: Personal Consumer Issues
Topic: Tipping at restaurants
Replies: 67
Views: 7895

I generally tip a flat 20% unless the server does something terribly wrong. My wife thinks I grossly over-tip, but I like to think that I can afford to give the extra dollar better than the server can afford to go without it. When I was a server, I found that the generous tippers made up for the poor tippers, so my income was sufficient for my student's expenses. The only times I felt that I was getting shortchanged had to do with people's lack of common sense related to discounts. People would use a buy-one-get-one-free coupon, but tip off the reduced amount. People would use a gift card for 90% of the bill, but then tip off the remainder they had to put on the Visa. Vets or teachers would come in for a 99 cent meal on Veteran's Day and te...
by steadyeddy
Fri Oct 08, 2010 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Possible forced early retirement: how ready am I?
Replies: 32
Views: 4331

$20k in payments on an interest only mortgage of $300k? I'd pay it off immediately, do a cash-out refi, then walk away! :lol: :wink:
by steadyeddy
Wed Oct 06, 2010 11:37 am
Forum: Investing - Theory, News & General
Topic: 3 Largest Credit Card Companies Sued By Government:
Replies: 20
Views: 3478

CrazyPete wrote: I think the key problem is that I pay for the benefits you receive,
I always thought of it more like an exchange between willing persons.
by steadyeddy
Wed Oct 06, 2010 10:38 am
Forum: Investing - Theory, News & General
Topic: 3 Largest Credit Card Companies Sued By Government:
Replies: 20
Views: 3478

It took me a while to dig this up, but did anyone else catch this article back in February? I think we will eventually see a significant reduction of payment processing fees in the free market.

http://www.wired.com/magazine/2010/02/f ... oney/all/1
Moving money, once a function managed only by the biggest companies in the world, is now a feature available to any code jockey. Ivey is just one of hundreds of engineers and entrepreneurs who are attacking the payment ecosystem, seeking out ways small and large to tear down the stronghold the banks and credit card companies have built.
by steadyeddy
Wed Sep 15, 2010 1:18 pm
Forum: Investing - Theory, News & General
Topic: How embarrassing now is your initial investment approach?
Replies: 82
Views: 11962

I was halfway through an undergraduate degree that was fully paid-for through a full-ride scholarship. I had received about $30,000 through some family gifts and a small trust fund disbursement set up by my great-grandfather. Because I could pay my living expenses from my own savings from high school, I didn't need this money and decided to invest. Being 19, I was convinced my investments in several individual small-caps and energy companies were each uniquely brilliant. One of those companies, BRLC, was making high-margin Olevia LCD televisions that were getting great reviews from consumer reports. They consistently put out fantastic earnings reports, and grew exponentially while the stock continued to drop. I did the only responsible thin...
by steadyeddy
Fri Sep 10, 2010 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Restaurant tipping - cash or card?
Replies: 102
Views: 14072

In my experience, the servers come in with some of their own money, perhaps $20 from which they make change. They then collect cash payments and tips and enter them into the computer. Likewise they run credit cards and enter tips into the computer. At the end of the evening, they print a balance that indicates how much they owe the restaurant. This number is essentially cash collected minus credit card tips. Thus, you end up with all your tips in cash by the time the night is over, and you set aside the $20 you came in with for the next day. No fee was ever removed from my tips, though we were expected to tip are numerous support staff. Most of my coworkers under reported their tips, and many patrons purposely tipped in cash, presumably to ...
by steadyeddy
Fri Sep 10, 2010 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Do you leave maid tip in a motel?
Replies: 78
Views: 14124

What is the rational for tipping waiters but not housekeeping staff? What is the minimum wage for waiters and waitresses? The minimum wage for waiters and waitresses is the current minimum wage less 31% for tips. Therefore, effective January 1, 2010 the minimum wage for waiters and waitresses is $5.69 per hour which is calculated in the following manner: 31% of $8.25 is $2.56; $8.25 minus $2.56 equals $5.69 per hour. In other words, housekeepers make (on average) 31% more money than waiters before tips. Based on what I know of my home state, I believe both your minimum wage and your formula are specific to your own state. I live in one of the few states that require tipped employees to be paid the full federal minimum wage, now $7.25, but ...
by steadyeddy
Fri Sep 10, 2010 11:12 am
Forum: Personal Investments
Topic: Advantages of an American Express card
Replies: 27
Views: 12640

Ron wrote:If you think it is a spammer, simply send a message to one of the mod's.

Go into your messages, select "usergroups" for mod's and send them a link to the message or the user.

I normally send the link info from the "profile" (just copy/paste) and the mods can make the decision to delete (or not).

BTW, I did send a message to look at this user.

Since we can't mark a user/message as spam, and we know the mod's have a lot to do (beyond looking at this forum, every few minutes), I'm sure they will appreciate your effort to self-monitor the forum.

- Ron
Thank you, Rob, I'll be sure to do that in the future. I looked around for any way to flag the posts, but saw none. Perhaps that is a feature that could be enabled?
by steadyeddy
Fri Sep 10, 2010 10:22 am
Forum: Personal Investments
Topic: Advantages of an American Express card
Replies: 27
Views: 12640

kevinadilson wrote:American Express...
kateoliver13 wrote:If you want...
Wow, the spammers have come in force...
by steadyeddy
Wed Aug 25, 2010 11:59 pm
Forum: Investing - Theory, News & General
Topic: Is your spouse hesitant to invest?
Replies: 44
Views: 5971

Dale_G wrote:It has worked out so far.
This is the type of outcome I anticipate as well.

Avo and Leonard's comments are understood. I realize finances are a big marital issue, but I have no plans to give up the perfectly frugal love of my life simply because she lacks my hobby interest in asset allocation and appetite for moderate risk.
by steadyeddy
Wed Aug 25, 2010 7:44 pm
Forum: Investing - Theory, News & General
Topic: Is your spouse hesitant to invest?
Replies: 44
Views: 5971

This won't be too helpful to you. My spouse was in 2 different investment clubs at the same time earlier in our marriage. She sees it as necessary and as work, so she lets me make all the decisions the last few years. She just asked me yesterday, "Should we refinance and take cash out so that we can invest more money?" I'll admit I've been interested to see you post about the clever gymnastics you are doing in her defined contribution plan. I can only imagine the discomfort my fiance would register if I proposed doing something so "exotic" with my own plan, let alone hers! In truth, she's told me that I should do whatever I feel is best with our automated savings each month--so long as I don't tell her about it. I just ...
by steadyeddy
Wed Aug 25, 2010 7:19 pm
Forum: Investing - Theory, News & General
Topic: Is your spouse hesitant to invest?
Replies: 44
Views: 5971

Is your spouse hesitant to invest?

My fiance is not very interested in finances, and very risk averse. She would prefer to save all our money in a taxable savings account at a brick and mortar bank because it's safe, easy, and liquid. My talk of need for risk, tax efficiency, and diversification causes her eyes to glaze over. When it comes to spending, she is even more frugal than I am, but investing is an area we haven't been able to agree on.

How does (or did) the blending of investment philosophies work with your significant other?
by steadyeddy
Tue Aug 24, 2010 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: America's favorite credit card: AmEx
Replies: 84
Views: 22328

I'm kind of amazed to read all the posts saying that Amex is accepted almost everywhere. This must be a costal or NY thing! In the Midwest, it's not accepted in grocery stores or at Statefarm insurance. So I can only use it at gas stations and at Walmart or a few other stores. So it's worthless to me. That's strange, I'm in the Midwest and I've not had my Amex refused outside of the usual suspects like Thai takeout or the dilapidated franchise on the wrong side of town. My only annoyance with Amex was their mysterious refusal to raise my credit limit so I could charge an engagement ring. Citibank has now extended me credit that positively dwarfs my income, yet Amex wouldn't give me an ounce of breathing room for a one-time purchase I could...