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#61 User is offline   Susancnw 

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Posted 04 February 2006 - 07:56 PM

Wow, things have turned around since Sept. A local designer (who's been in business for years) contaced hub and he is now her "builder" so to speak. Did something small for her, she needed a tv cabinet for her BR to coordinate with her built-in headboard/side tables. WOW! He designed it and looks like it was made at the same time by the same person...coopered door (fitted to a curve), same stain he custom mixed...amazing. So they are set up for a very big job in late Feb. He's working on cabinets/countertop for an outdoor venue at a ranch south of us...the people had it custom designed and built in July and it was literally falling apart by Oct (you just ache for people that happens to), so he's building a new one for them (and probably be repeat business as they build and expand). And some smaller pieces along the way! I've got a long term temp job that pays decently, like the atmosphere and learning new software (what idiot wrote the help files for SAP?!?!?!), interviewed Th at a third generation law firm here in town and on Monday with a planned community for an admin for their DM....so things are going well...went to lunch today with friends and had such awful service (great food!) that I managed to get our meal comped...successful day!

Thanks to all here for reminding me that things get better and explode quickly!
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#62 User is offline   intotheblackhole 

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Posted 13 February 2006 - 09:23 AM

susancnw, on Feb 4 2006, 04:56 PM, said:

Thanks to all here for reminding me that things get better and explode quickly!
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Good for you. I am glad that things are working out.

Part of financial responsibility is to plan for the bad times....and the good times.

When times are bad you always have to remember that they will get better and to hang on.

When times are good you have to remember that there will be bad times and to save up.

Economies are cyclical. Thet are almost like living breathing entities. Recessions come and go about every 5-6 years. Most are not all that bad. But you still have to be ready.

Thanks for the update
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#63 User is offline   janey728 

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Posted 20 March 2006 - 08:47 PM

Does anyone know how student loans work? Are they more like a mortgage where you are paying off the interest first, or are they like a credit card where you are always accruing interest?
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#64 User is offline   intotheblackhole 

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Posted 04 April 2006 - 11:27 AM

View Posthighcottonquinn, on Feb 4 2006, 05:31 PM, said:

I have both an IRA and a 401(k). I also recently opened up a home maintenance fund. Suze Orman recommends putting $75 a month into a home maintenance fund for repairs to your home.

I guess, technically, I need to open an emergency fund, too. You should save up to 3 mos living expenses.

The best advice I've ever heard for saving money is to "make it automatic". Set it up where the money comes out of yopur paycheck before you even get your paycheck. You won't miss it then.


I put in 40% into my 401k and my wife does the same (till we reach the amount limit by law) and we just learn to live on the rest.

I have a stock fund that I put my savings in for emergencies and for other stuff. If I don't use it then I make lots of money on the increasing stock prices. Since I am a can do kind of guy I do all my own home repairs. I ride a bicycle everywhere and that only costs me $100 a year give or take a few bucks.

I get a lot of stuff on www.craigslist.org and have found stuff to save energy which reduces my energy bills. So far I have cut my energy costs in half with passive heating and cooling.

We live a decent life and can live on almost no money every month with all the cost cutting measures we have in place.
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#65 User is offline   intotheblackhole 

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Posted 04 April 2006 - 11:37 AM

View Postjaney728, on Mar 20 2006, 06:47 PM, said:

Does anyone know how student loans work? Are they more like a mortgage where you are paying off the interest first, or are they like a credit card where you are always accruing interest?


Student loans are like any other loan. The interest is computed on the balance every month.

If you owe $1,000 at 12% then the interest is calculated on the $1,000 (at 1% per month, 12% divided by 12 months) plus the accrued interest. The balance goes to $1010 and if you pay $50 then the balance drops to $960.

There is no difference in how credit card and mortgage is interest is calculated. It is based on the unpaid portion of the loan. The difference is that with the mortgage you have a set payment and with credit card you can vary the payment amount and the balance will also vary.

Credit cards are designed to separate you from your money while a mortgage is designed to get you a house.

Also student loans are not a good deal. They are considered high risk and have a high interest rate. Pay as you go is a better way to go if you can do that.
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#66 User is offline   intotheblackhole 

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Posted 04 April 2006 - 11:44 AM

Just an FYI.

Equities are the place to be right now. I am making 17.6% on my investments as of 12/31/05 per my accountant.

Bond funds are losers and combined with inflation are losing about 8% a year. This is not the place to be.

Money market is also a loser with current rates at about 1%. If you consider inflation then money market is losing 2% a year.

There is only one option for making money right now and that is equities.

Of course I am not a financial adviser and offer this as just information. You invest on your own and I have no fudicial liability offering this information.
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#67 User is offline   raven68 

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Posted 03 September 2006 - 11:24 PM

View Postintotheblackhole, on Apr 4 2006, 09:44 AM, said:

Just an FYI.

Equities are the place to be right now. I am making 17.6% on my investments as of 12/31/05 per my accountant.

Bond funds are losers and combined with inflation are losing about 8% a year. This is not the place to be.

Money market is also a loser with current rates at about 1%. If you consider inflation then money market is losing 2% a year.

There is only one option for making money right now and that is equities.

Of course I am not a financial adviser and offer this as just information. You invest on your own and I have no fudicial liability offering this information.


Equities are always the place to be in part of one's asset allocation. They're not everything for everyone given that we're all in different stages of our lives - meaning that retirement for some is more imminent and to allocate only to equities , is not the best placement of everyone's resources. But your premise is a good one.

The problem with any fixed income investment is inflation. Inflation degrades the return of fixed income investments (CDs, bonds, moneymarket funds, etc.) and in the long term, it is the single largest detriment to increasing the value of one's assets. The most effective way to fund retirement is to look first at the amount of risk you can tolerate and from there, you can assess your needs as to fixed income and/or equities. There is no cookie-cutter answer to this, it is very much dependent upon individual circumstances and your total financial picture must be taken into account to do it correctly and effectively.

This post has been edited by raven68: 03 September 2006 - 11:25 PM

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#68 User is offline   Dublin5 

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Posted 13 June 2010 - 12:23 PM

I have recently gotten into playing with buying stocks. I have quite a few on my watch list and have bought shares (small) of three stocks. I also have Stock Market for Dummies collecting dust in my Kindle.

I don't have much money in my stocks, yet. I'm still watching Apple and hoping it will drop. I'm also watching BP oil. I'm wondering if I buy into BP oil with the price so low, it has to bounce back up once this whole mess is over.

I haven't done any trading so I haven't made money. I heard you want to hold onto the stocks for about a year? One of them is a biotech stock that has an FDA approval for end stage prostate cancer drug and is venturing into breast and ovarian cancer. I have one computer / tech and one major drug market.

Any tips / ideas for a newbie on this??? I'm trying to do research and am following Jaywalker and the others when they recommend buys but I'm ignoring the sell for the ones I have purchased for about a year.

Can I add that TD Ameritrade is AWESOME for newbies????? Their support line is extremely helpful and it is so easy to navigate the website. You don't have to start with any money, like e-trade, either.

This post has been edited by Dublin5: 13 June 2010 - 12:25 PM

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#69 User is offline   Dublin5 

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Posted 13 June 2010 - 12:56 PM

QUOTE (intotheblackhole @ Sep 19 2005, 08:50 PM) <{POST_SNAPBACK}>
My accountant said I was making around 18% and that figure just stuck with me. I assume it is an estimate. That seems about right to me as I have been very agressive in my portfolio. I had almost nothing when I hit 40 and needed to do some serious catchup.

I also have some stocks like UHN, ZQK, SRCL, SGDE, LOW, KBH, CTX, PNRA, FAST, ZQK and others. These have done very well. I have had some loosers also but I dump them with stop loss orders. I try to hang in there most of the time as I hate all the taxes I have to pay.

Some of the winners in the past was IDTI and TQNT. Both did very well and they sold in a stop loss in 2000. I kept moving them up as the price went up.

My wife had FSELX and that was a screamer for many years till the 2000 implosion. She has actually made more money than I have with that one stock. Till the crash it was the one of the hottest funds ever.

I had to pull out of it in 1999 and sat in bond funds for a few years then got back into it.



Missed this--sorry. I noticed you invested in stocks that are around 5-10 dollars. The ones I picked (DNDN, MRK, and MSFT) I bought only between 3-5 shares (which I don't think is anything but it was what I could afford.) They ran between 30-50 dollars a share. Why the lower stocks and how do you know they'll increase? How many shares do you buy in them?

I'm also watching AAPL, BP, RIMM (blackberry), DELL,TIF, COS, MOV, IMAX, DWA, CMCSA, BP,CVX, XOM, and HES. (There's a few others.) I also have 3% of my salary going to shares in the main company I work for and a nice little bit (again, not much but aggressive) in my 401K which I also have coming right out of my paycheck. Oh, I don't know if this is the same but a TDA coming out of my paycheck.
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#70 User is offline   BookGirl 

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Posted 14 August 2010 - 09:07 AM

QUOTE (Dublin5 @ Jun 13 2010, 01:23 PM) <{POST_SNAPBACK}>
I have recently gotten into playing with buying stocks. I have quite a few on my watch list and have bought shares (small) of three stocks. I also have Stock Market for Dummies collecting dust in my Kindle.

I don't have much money in my stocks, yet. I'm still watching Apple and hoping it will drop. I'm also watching BP oil. I'm wondering if I buy into BP oil with the price so low, it has to bounce back up once this whole mess is over.

I haven't done any trading so I haven't made money. I heard you want to hold onto the stocks for about a year? One of them is a biotech stock that has an FDA approval for end stage prostate cancer drug and is venturing into breast and ovarian cancer. I have one computer / tech and one major drug market.

Any tips / ideas for a newbie on this??? I'm trying to do research and am following Jaywalker and the others when they recommend buys but I'm ignoring the sell for the ones I have purchased for about a year.

Can I add that TD Ameritrade is AWESOME for newbies????? Their support line is extremely helpful and it is so easy to navigate the website. You don't have to start with any money, like e-trade, either.

Hi Dublin

I don't think this is a good time to invest in equities. I believe that you would be better served paying down any debt that you have. Hunker down, learn - there may be a point in the future where it will be safe and advisable to invest in equities but I do not believe that time is now.

Disclaimer: Long God, land and spam.
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#71 User is offline   GraceD 

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Posted 11 April 2011 - 03:32 AM

Saving money is essential nowadays but it doesn't mean that you have to push it to the limit. It is sometimes the problem with those people who are so tight-fisted. They are so reluctant to loose money that most of the time, they forget how to enjoy and relax and sometimes leading to unwanted illness. Mean it or not, it is costly to have an illness rather than spending once or twice for relaxation. Health problems may lead even lead you to taking out some short term loan for reasons they shouldn't have otherwise.
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#72 User is offline   Old_Mil 

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Posted 03 July 2011 - 05:00 PM

Here's a money saving tip: look at your monthly cell phone bill. Consider switching to a service like Boost Mobile. You start out there at $50 a month for unlimited talk, text, web. Every 6 months you are with them your bill drops $5 a month until it sits at $35 a month. My wife and I used to have T-mobile unlimited plans and switching saved us $50-$60 a month. (caveat: such services don't have coverage everywhere - especially in rural areas - so check your coverage map. Most small towns or larger and interstates are covered).

Take a close look at your cable TV/satellite/fiber optics bill. Consider getting rid of it entirely and using your internet service to access websites like hulu (caveat: doesn't work well for live sports, but if you have an HDTV, add an antenna and you will likely get a better picture than you had with cable).

Plan your trips and routes to minimize driving.

Extreme couponing.
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#73 User is offline   Old_Mil 

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Posted 03 July 2011 - 05:03 PM

View Postjaney728, on 20 March 2006 - 08:47 PM, said:

Does anyone know how student loans work? Are they more like a mortgage where you are paying off the interest first, or are they like a credit card where you are always accruing interest?


They are like a credit card, where you are always accruing interest. In addition to that, they are one form of debt that cannot be discharged in bankruptcy regardless of your ability to leverage that education to make a living to pay off said student loans. It's modern day indentured servitude, but under worse terms. You have to be extremely wise these days about what sort of a degree you go into debt for, and how far you go into debt. Between for profit institutions of "higher education" (diploma mills) and leftist colleges that are interested in a steady stream of government funds to keep their professors - most of whom have been educated into imbecility - employed it's a worse place to be shopping than a used car lot.

This post has been edited by Old_Mil: 03 July 2011 - 05:05 PM

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#74 User is offline   peter4paul16 

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Posted 22 February 2017 - 02:57 PM

Great post. You're definitely a Millionaire Next Door.

My wife and I are pretty frugal.

Don't blow money on "toys," clothes, etc..

We have three rental properties, we save. Our two year old daughter already has $10,000 in her 529.

Hope to "retire" young :)

Cheers!
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