Jul
18
How Uninformed Investors Keep the Stock Market Moving
July 18, 2008 | Leave a Comment
… no business investing. Many of today's "investors" should be in Treasuries, CD's and savings accounts, not international growth funds. But what about the returns you ask? What about the return? When you buy high and sell low, your damned sure not getting a good return.
Every time we extend ownership ( sub-prime mortgage fiasco, Fannie Mae, Freddie Mac ) to those that don't deserve it, we end up with a big mess.
With the 401(k) Congress has handed a loaded weapon to the …
Jul
14
… bank if your really need the hold released. Banks may have varying policies for holds placed on accounts. Neither Visa nor MasterCard have a blanket policy on this. So if you have a Visa through Wells Fargo, for example, contact the Wells Fargo customer service number on the back of your card. Your bank may be able to help.
Keep all of your receipts. This should be obvious. Even after you've turned in your expense reimbursement, keep a copy in a folder in your desk. You …
Jun
27
Searching for a Safe Short Term High Yield Investment
June 27, 2008 | Leave a Comment
A couple years ago, online savings accounts were paying over 5% interest. Now interest rates have dropped slightly and are just starting to recover. I have short term money that I want to keep liquid, yet I also want a decent return on investment. What do I do now?
In 2006 high interest online savings accounts were common. Now you're lucky to get 3 percent. FDIC insured online savings accounts were an obvious …
Jun
24
Flood Insurance For Renters
June 24, 2008 | Leave a Comment
… of paper. Now compare that number to the amount of money you have in your checking and savings accounts. Do you have enough money to replace everything you own right now?
Most people don't, that's why they need renters insurance in the first place. Renters insurance protects you in the case of a fire or other major problem. However most renter's insurance policies don't cover flood damage. That's why you need flood insurance added to your renters insurance policy.
But do I …
Jun
7
… points out, chillingly, that banks make money from two sources. They take interest on our current accounts and charge us for services. This is easy, safe money. But they also take risks, big risks, with the whole panoply of loans, mortgages, derivatives and any other weird scam they can dream up. “Banks have never made a penny out of this, not a penny. They do well for a while and then lose it all in a big crash.”
On Investing:
Well, the good investment strategy is to put 90% of …
May
21
15,000 Stimulus Checks Sent to Wrong People by IRS
May 21, 2008 | 110 Comments
… article, the IRS has admitted that at least 15,000 stimulus payments were deposited in the wrong accounts.
"We do know of instances of problems; we've heard of situations where stimulus checks have gone to the wrong people's bank accounts," conceded Kevin McKeon, the Internal Revenue Service spokesman for the New York region. "We're getting a lot of calls to the toll-free number."
Apparently, the issue was caused by a "computer problem." I love how anyone can blame anything on …
May
15
Gas Prices - Part 1 - Why Does Gas Cost So Much?
May 15, 2008 | 2 Comments
… is the primary ingredient: crude oil. According to the ">Department of Energy, crude oil accounts for 72% of the cost of gasoline at the pump.
Right now crude oil prices are at record highs. According to the history of oil prices from the Department of Energy, Oil is over $100 / barrel in May 2008. As recently as 2005 a barrel of oil was as low as $33.79.
Gas is Expensive Because Crude Oil is Expensive
I'm going to go out on a limb here and say that gas is expensive …
May
5
… for the 2007 tax year.
In May of 2008 the IRS begin depositing these payments into the banks accounts of eligible tax payers via direct deposit. Some people will get there payment via check. You can estimate when you will receive your payment using the official IRS payment schedule.
The "Second" Economic Stimulus Package
So what's the story with the "second" stimulus package? It appears that Democrats in Congress are pushing for a second economic stimulus package. …
Apr
11
Making Up Excuses to Keep Your Mortgage?
April 11, 2008 | 6 Comments
… outgo.
Today’s investment landscape is not very good for the saver. With high rate savings accounts offering around 3% and bond fund ETFs returning between 2% and 5%, stable investments just aren’t returning that much. Rates can change on almost any investment besides a CD. If you pay off a mortgage you’ve “locked in” a decent rate. A "a high yield on some stable investments" just isn't that easy to find.
Some People Are Better off with a Mortgage
Keep in mind that a …
Apr
9
Lending Money on Prosper: My Results
April 9, 2008 | 4 Comments
… was looking around for higher returns on my investments. I had a lot of money sitting in savings accounts at the time. I wasn’t happy with the rate these savings accounts were paying. I even had high rate online saving accounts with ING and HSBC but the higher rates on these accounts didn’t last very long.
I Wanted to Diversify
I felt at the time that I had enough in cash, real estate and the stock market. I wanted to diversify my assets. Personal loans seemed like …