Edmunds Members - Cars and Conversations (Archived)

snakeweasel

andres3 said:

What about leasing a minimum mileage lease, then driving it 100,000 miles in 3 years (really racking them up) and having the car disappear into a lake so you don't get charged for the excess mileage right before turn-in? Has this been tried before? Disclaimer: Not legal advice.

My guess is that someone somewhere has pulled something like that off. 

snakeweasel

suydam said:

Sure. They can show you a paper copy. I really doubt your doctors are scamming you. If you think that’s even a remote possibility you should find a new doc.

Then i would sign the paper copy. If it's just a blank screen I'm not signing. 

snakeweasel

oldfarmer50 said:

Michaell said:

Anybody ever get a lease like this? Chrysler Pacifica $199/mo. $3k down plus taxes and fees. 27 months and 5000 mile per year. Always thought a real low mile lease might make sense but could never find one. Offer came from local dealer.

That's really $299/mo when you amortize the $3K down Probably a local bank

That's really $310.

You know, these $199/mo but bring a truck load of cash deals should be considered false advertising.

Every so often I see these ads for $88 down and $88 a month. I always wonder what you would get for that. 

snakeweasel

dino001 said:

There was a gas station directly across the street from the rental agency so I filled it up there and drove across the street to return the car. The guy who took the car drove it back to that very same gas station to fill it up. As I stood there watching I could actually hear the pump shifting off every time he tried to put gas in it. Then they actually charged me for the gas they were able to pump, IIRC it was less than 20 cents. 

Now, that's a story. They really tried harder to get your money :laughing:

That they did, I was just so dumbfounded that I stood there in disbelief. But it was such a small amount that it wasn't worth fighting over. 

pensfan83

graphicguy said:

The video stipulated that a “Type-S” would be here “in the next few years”. Not sure if that means 2019? Or, even further out. One would assume (and we all know what that means) that the TT V6 would be the engine chosen for a Type-S TLX.

Some were speculating that the hybrid drivetrain from the RLX would make it to the TLX as a Type-S. I suspect that drivetrain is expensive to produce and would push the price of the TLX Type-S way to high. A TT V6 makes more sense, and follows what the other lux brands are putting out there.

A-Spec seems to be popular, so they’re bringing it back across the board. But, it’s strictly a handling, tire/wheel and cosmetic package. But, if I heard the presentation correctly, it would also be available with the 4 cyl version. I’m guessing but I’d make a bet Honda’s 2.0T would make it into the TLX base version sometime soon.

I’d hold out for a Type-S if it’s coming in the next year or two. That’s about the end of my attention span, though.

Fact is, there’s nothing out there right now that would make me wander on to a car lot. Very pleased with my TLX. It does everything well, and does it always, with no muss or fuss. Would I want it to be quicker? Sure! But, I’ve never felt the drivetrain has let me down. Ride/handling (in the SH AWD A Spec) is spot on. The rest is gravy....great seats, great tech, even better stereo....not much to complain about for a less than $45K car.

Make it a Type-S with the TT V6, the new interior, around $48K? I’d be all over it.

I agree with everything you said. I'll be anxious to read reviews of the RDX once it becomes available for testing. It could easily go to the top of the list when we start looking for the Altima's replacement later in the year.

As for a Type S it would need to be on the market by September 2020. Your holdout is self-imposed, mine is contractually imposed

qbrozen

snakeweasel said:

but if you drive 7500 miles a year or less your cost per mile driven is way less with a low mileage lease. 

I doubt that. Unless maybe in the case of heavily subsidized leases on inexpensive vehicles.

stickguy

Lower than with the higher miles allowed lease. You always lose leaving miles on the table you already paid for.

stickguy

I think the 2.0t in the TLX would make the base V6 redundant. Maybe that as the base, and TT V6 as option? That would work.

Mr_Shiftright

oldfarmer50 said:

Yes, they showed me the paper physically on a clipboard and after gave me a hard copy with my signature printed on it but that still creeped me out. Lots of potential for mischief. A nurse at a major local medical center was arrested recently for multiple identity thefts. I might trust the doc but who knows who's working in the office.

Life is tough for dinosaurs.

Well I hope he enjoys his 3-year enlistment in the Marines.

driver100

snakeweasel said:

dino001 said:

stickguy said:

I know one of my miles cards (maybe United) I got not long ago had big bold language in the stuff that came with it telling you to decline CDW since the card covered it.

Ireland, that was a different story. though after getting home, and researching more, I think they would have covered it too. Over there, it is a miracle to not get damage (apparently they have a big box at the returns lot for broken mirrors), though I managed to avoid any. So they really put the scare tactics on. I caved, and IIRC all that cost more than the rental itself. Oh well.

There are some countries excluded, usually war zones (Israel), "rouge" type countries (Iran, N. Korea), or those with weird laws (New Zealand). It's always good to call first to make sure.

Nobody rents cars in N. Korean and very few people drove there

. 

Not too many vacationers

snakeweasel

qbrozen said:

but if you drive 7500 miles a year or less your cost per mile driven is way less with a low mileage lease. 

I doubt that. Unless maybe in the case of heavily subsidized leases on inexpensive vehicles.

in the example given 7500 miles for 300 a month comes to 48 cents a mile and 15000 miles for 400 a month comes to 32 cents a mile. Yes that way a per mile cost the 15000 miles is less per mile.

But what if you only averaged 7200 miles a year? In the low mileage lease you are paying 50 cents for every mile driven and in the high mileage lease you are paying 66.7 cents for every mile driven. 

Remember it's not what you get, it's what you use. 

snakeweasel

driver100 said:

dino001 said:

I know one of my miles cards (maybe United) I got not long ago had big bold language in the stuff that came with it telling you to decline CDW since the card covered it. Ireland, that was a different story. though after getting home, and researching more, I think they would have covered it too. Over there, it is a miracle to not get damage (apparently they have a big box at the returns lot for broken mirrors), though I managed to avoid any. So they really put the scare tactics on. I caved, and IIRC all that cost more than the rental itself. Oh well.

There are some countries excluded, usually war zones (Israel), "rouge" type countries (Iran, N. Korea), or those with weird laws (New Zealand). It's always good to call first to make sure.

Nobody rents cars in N. Korean and very few people drove there

. 

Not too many vacationers

Well if you do vacation there you cannot go anywhere without a government assigned tour guide and then you can only see what the government wants you to see. 

bwia

Night driving and Aging

Today is my second day of retirement and in those two days I have watched a lot of TV and YouTube videos. While it is universally believed that our vision and driving competency deteriorate as we age, I can certainly agree as I am going through this experience especially with night driving to the point where I rarely drive at night.

Don't know how he does it but one of the videos there was a 109-year old Texas resident who still drives a Ford 100 pickup, eats whatever he wants, including ice cream every night, and smokes a dozen cigars a day. And did I mention, he has a 91-old girlfriend? His first car was a hand crank Ford Model T; and ever since he has been a loyal Ford customer.

In the video they showed him at the DMV passing his vision test with flying colors. And to prove to everyone's satisfaction that he was a capable driver he drove his F-100 at a decent clip (read: fast) and he says he prefers to drive himself because there are too many crazy drivers out there. Go figure. At 69 I'm beginning to lose my driving confidence. At 109 that just seems impossible.

Mr_Shiftright

I had my car's windshield replaced, headlight lenses polished, headlights re-aimed, new bulbs, and added two driving lights--this helps a lot!

Of course, I can't use all that lighting in everyday traffic as it must look like a 737 coming at you, but when there is no oncoming traffic at night, man, it really makes a difference.

I think, as we age, it's our eyes' inability to gather light. Also, for some, there is a "corona effect" when looking at headlights or streetlights. That's annoying.

andres3

suydam said:

Sure. They can show you a paper copy. I really doubt your doctors are scamming you. If you think that’s even a remote possibility you should find a new doc.

I'd think Doctors would hold more honesty and honor than an Auto Insurance Agent, but I will say, when I caught my agent making a really bad "errors and omissions" mistake that didn't follow my directions, which of course, came up during a claim, suddenly everyone became very quiet, unaccountable, and unresponsive. It was almost as if their bonuses were tied to not having any Errors & Omissions claims.

Clearly wrong, but wouldn't admit it on the record.

andres3

Mr_Shiftright said:

I had my car's windshield replaced, headlight lenses polished, headlights re-aimed, new bulbs, and added two driving lights--this helps a lot!

Of course, I can't use all that lighting in everyday traffic as it must look like a 737 coming at you, but when there is no oncoming traffic at night, man, it really makes a difference.

I think, as we age, it's our eyes' inability to gather light. Also, for some, there is a "corona effect" when looking at headlights or streetlights. That's annoying.

I still have good vision, but I really appreciate the great LED headlights of the Audi when I use them. I much prefer it to the old-fashioned lanterns on the Kia.

Previous to my S4, I would not have paid extra for "HID" headlights. Not even the cheap Korean knockoffs made for German cars.

I also like how the VW's include some adaptive turning light even in their regular headlight packages.

andres3

oldfarmer50 said:

Question for the gear heads.

Does anyone know anything about Nitto NT555 G2 tires. How do they compare to the Pilot Sport series for handling?

I'm seeing them included in tire/wheel packages on line and wondering if they are something special or just a house brand they're trying to get rid of.

Nitto's are a pretty good tire. I would say 2nd tier, but certainly not bottom tier. Of course, in my opinion, most of Michelin's tires are making all others look 2nd rate.

abacomike

I just rolled over one of my IRA's at my bank. I was getting 1.225% on 20,000+ and they gave me a 13 month CD at 1.75%. Looks like rates are beginning to rise. I long for the days of 5%+ CD interest rates - doubt we will get there soon unless something radical happens to the stock market and/or economy w/inflation.

I remember back in the late 1970's during the end of the Carter administration when my Dad took out a 66 month CD with an initial deposit of $250,000 and when the CD matured, he received $565,000+. I believe he was earning 17.8% interest at the time. That's when inflation was roaring at close to 20% for a short time back then. He had just retired down here to Florida. Boy, would I love to get an interest rate like that again.

tbirdmarco

https://m.youtube.com/watch?v=ARV72jEmg4Q

driver100

Mike, there is the rule of 70. Take the interest rate, and divide it into 70 and you will know how many years it takes money to double.

10% interest rate, 70 divided by 10, = money doubles in 7 years.
20% interest rate, 70 divided by 20 = money doubles in 3 1/2 years
At 2% interest your bond will double in 35 years!

abacomike

bwia said:

Night driving and Aging

Today is my second day of retirement and in those two days I have watched a lot of TV and YouTube videos. While it is universally believed that our vision and driving competency deteriorate as we age, I can certainly agree as I am going through this experience especially with night driving to the point where I rarely drive at night.

Don't know how he does it but one of the videos there was a 109-year old Texas resident who still drives a Ford 100 pickup, eats whatever he wants, including ice cream every night, and smokes a dozen cigars a day. And did I mention, he has a 91-old girlfriend? His first car was a hand crank Ford Model T; and ever since he has been a loyal Ford customer.

In the video they showed him at the DMV passing his vision test with flying colors. And to prove to everyone's satisfaction that he was a capable driver he drove his F-100 at a decent clip (read: fast) and he says he prefers to drive himself because there are too many crazy drivers out there. Go figure. At 69 I'm beginning to lose my driving confidence. At 109 that just seems impossible.

I definitely know what you are going through, bwia. I'm 73 and I really do not like to drive at night, however over the past several weeks, I have been out to dinner and the movies with friends quite a few times which required me to drive after sunset. The LED headlights that swivel in the direction of turns as well as cornering lights when making a sharp turn at an intersection sure come in handy.

What I think is the main issue with night driving for older folks is the onslaught of dozens and dozens of headlights and tail lights beaming at you coupled with headlights beaming through your rear window. Add to that traffic lights and street lights, it can get overwhelming at times. There was a time that I preferred driving at night because I could actually see better at night than during the day with all the glare from the sun. I also tend to drive a lot slower than I used to when driving on streets in town. However, I do like to drive faster on interstates and highways - about 5-10 mph over the speed limit.. I feel safer on highways than I do on streets.

The nanny technology also helps with driving at night - lane departure and blind spot monitors as well as accident avoidance systems. I especially like rear accident avoidance systems - like cross traffic and cross pedestrian auto stop features. If it were not for the added safety features and better headlight vision, I probably wouldn't drive at all at night.

abacomike

driver100 said:

Mike, there is the rule of 70. Take the interest rate, and divide it into 70 and you will know how many years it takes money to double.

10% interest rate, 70 divided by 10, = money doubles in 7 years.
20% interest rate, 70 divided by 20 = money doubles in 3 1/2 years
At 2% interest your bond will double in 35 years!

Driver, actually all I want to do with my investments at the present time is to stay even with inflation or do a bit better. I don't expect to live long enough to double my money at these interest rates, that's for sure. So long as I can live nicely on my pension and social security each month and am able to save $1000 - $2000 a month, I'm happy. If it were not for my pension, I would outlive my money, that's for sure. At present, I'm living nicely and still can save money each month. I have a couple of Money Market Investments earning 1.65% interest - which is almost as much as I can get on a CD - but with the added advantage of liquidity.

When I can get 5% or better, I'll be even happier.

jmonroe

Mr_Shiftright said:

oldfarmer50 said:

Yes, they showed me the paper physically on a clipboard and after gave me a hard copy with my signature printed on it but that still creeped me out. Lots of potential for mischief. A nurse at a major local medical center was arrested recently for multiple identity thefts. I might trust the doc but who knows who's working in the office.

Life is tough for dinosaurs.

Well I hope he enjoys his 3-year enlistment in the Marines.

Do you really think they'd want him?

And if by some chance they accepted him (man, would I ever feel protected with that move), he'd probably never get his hooptie on the base, and another if by chance, he did it would be in a special section in the parking lot.

jmonroe

jmonroe

bwia said:

Night driving and Aging

Today is my second day of retirement and in those two days I have watched a lot of TV and YouTube videos. While it is universally believed that our vision and driving competency deteriorate as we age, I can certainly agree as I am going through this experience especially with night driving to the point where I rarely drive at night.

Don't know how he does it but one of the videos there was a 109-year old Texas resident who still drives a Ford 100 pickup, eats whatever he wants, including ice cream every night, and smokes a dozen cigars a day. And did I mention, he has a 91-old girlfriend? His first car was a hand crank Ford Model T; and ever since he has been a loyal Ford customer.

In the video they showed him at the DMV passing his vision test with flying colors. And to prove to everyone's satisfaction that he was a capable driver he drove his F-100 at a decent clip (read: fast) and he says he prefers to drive himself because there are too many crazy drivers out there. Go figure. At 69 I'm beginning to lose my driving confidence. At 109 that just seems impossible.

Congrats on your retirement. If you're anything like me, you only need 2 days to appreciate retirement. But I was not a kid of 69 when I retired for good (3 years ago next month), I was 73. Oh, I was considered officially retired at 55 by my company but then I worked as a consultant for most of the years after that. I'm not complaining, no one held a gun to my head and I actually enjoyed it but as they kept enticing me to "stay a little longer" I found myself in a rut. Just kept working because I enjoyed. However, in the end I met my primary goal about working and everyone knew it. I left before someone found me slumped over my keyboard one night. Yep, I left a winner.

As for driving at night, I've started noticing the glare of oncoming traffic the last few months. I think its time to get the cataract removed from my left eye pretty soon. Had the right one done about 8 years ago when I was still a kid.

Congrats again. Does this mean we will be seeing more of you now? Even Edmunds is better when you're retired.

jmonroe

oldfarmer50

andres3 said:

Mr_Shiftright said:

I had my car's windshield replaced, headlight lenses polished, headlights re-aimed, new bulbs, and added two driving lights--this helps a lot!

Of course, I can't use all that lighting in everyday traffic as it must look like a 737 coming at you, but when there is no oncoming traffic at night, man, it really makes a difference.

I think, as we age, it's our eyes' inability to gather light. Also, for some, there is a "corona effect" when looking at headlights or streetlights. That's annoying.

I still have good vision, but I really appreciate the great LED headlights of the Audi when I use them. I much prefer it to the old-fashioned lanterns on the Kia.

Previous to my S4, I would not have paid extra for "HID" headlights. Not even the cheap Korean knockoffs made for German cars.

I also like how the VW's include some adaptive turning light even in their regular headlight packages.

The doctor I mentioned earlier was the eye doctor. I was there for follow up on a scratched cornea I got cutting brush. My eye had healed back to normal but then she said I had Narrow Angle OU which I guess means my iris is too close to the cornea. In what seemed like a car salesman upsell she said I could potentially go blind from it all of a sudden or never have a problem ever.

Of course she had the solution. Drilling a hole in my eye with a laser for drainage. I told her I'd think about it.

oldfarmer50

abacomike said:

I just rolled over one of my IRA's at my bank. I was getting 1.225% on 20,000+ and they gave me a 13 month CD at 1.75%. Looks like rates are beginning to rise. I long for the days of 5%+ CD interest rates - doubt we will get there soon unless something radical happens to the stock market and/or economy w/inflation.

I remember back in the late 1970's during the end of the Carter administration when my Dad took out a 66 month CD with an initial deposit of $250,000 and when the CD matured, he received $565,000+. I believe he was earning 17.8% interest at the time. That's when inflation was roaring at close to 20% for a short time back then. He had just retired down here to Florida. Boy, would I love to get an interest rate like that again.

I remember getting 18% on CDs back then but you had to suffer 22% inflation. What I wish I had done back then was to buy a 30 year bond which at the time was paying about 16%. Once inflation subsided you were making 10-12% over inflation.

I hope all your savings aren't in bank CDs. Sure they're safe but you're really losing money. Even an S&P index fund made 20% last year.

oldfarmer50

abacomike said:

driver100 said:

Mike, there is the rule of 70. Take the interest rate, and divide it into 70 and you will know how many years it takes money to double.

10% interest rate, 70 divided by 10, = money doubles in 7 years.
20% interest rate, 70 divided by 20 = money doubles in 3 1/2 years
At 2% interest your bond will double in 35 years!

Driver, actually all I want to do with my investments at the present time is to stay even with inflation or do a bit better. I don't expect to live long enough to double my money at these interest rates, that's for sure. So long as I can live nicely on my pension and social security each month and am able to save $1000 - $2000 a month, I'm happy. If it were not for my pension, I would outlive my money, that's for sure. At present, I'm living nicely and still can save money each month. I have a couple of Money Market Investments earning 1.65% interest - which is almost as much as I can get on a CD - but with the added advantage of liquidity.

When I can get 5% or better, I'll be even happier.

Long term corporate bond funds pay about 4% and are pretty stable.

oldfarmer50

jmonroe said:

Mr_Shiftright said:

oldfarmer50 said:

Yes, they showed me the paper physically on a clipboard and after gave me a hard copy with my signature printed on it but that still creeped me out. Lots of potential for mischief. A nurse at a major local medical center was arrested recently for multiple identity thefts. I might trust the doc but who knows who's working in the office.

Life is tough for dinosaurs.

Well I hope he enjoys his 3-year enlistment in the Marines.

Do you really think they'd want him?

And if by some chance they accepted him (man, would I ever feel protected with that move), he'd probably never get his hooptie on the base, and another if by chance, he did it would be in a special section in the parking lot.

jmonroe</>

Boorah! I'm gonna get me a nice low mile tank and then wait for somebody to cut me off on the highway.

qbrozen

snakeweasel said:

qbrozen said:

but if you drive 7500 miles a year or less your cost per mile driven is way less with a low mileage lease. 

I doubt that. Unless maybe in the case of heavily subsidized leases on inexpensive vehicles.

in the example given 7500 miles for 300 a month comes to 48 cents a mile and 15000 miles for 400 a month comes to 32 cents a mile. Yes that way a per mile cost the 15000 miles is less per mile.

But what if you only averaged 7200 miles a year? In the low mileage lease you are paying 50 cents for every mile driven and in the high mileage lease you are paying 66.7 cents for every mile driven. 

Remember it's not what you get, it's what you use. 

Oh, I thought you were talking about the comparison I was making that you are better off buying used than leasing new if you drive so little. Yes, of course you don't want to pay for more miles in a lease than you will use. 

graphicguy

My investments were the opposite of what my advisor told me to do.

In the ‘80s, right out of school, I bought property (when interest rates were high) but flipped the property for good profits. In the ‘90s, I was in startup companies (one went public and was then sold). The 00s, when my advisor said I should go more conservative, I cashed out of real estate and into stocks, which I’m still in.

Just now, I’m starting to sell off stocks, as I FEEL the run up is just about over. Going into more conservative investments to protect myself given my outgoing cash has gone way down.

driver100

I think we should follow you GG......you have played it right going way back.

The market will pull back one day....but, what a ride.

driver100

abacomike said:

driver100 said:

Mike, there is the rule of 70. Take the interest rate, and divide it into 70 and you will know how many years it takes money to double.

10% interest rate, 70 divided by 10, = money doubles in 7 years.
20% interest rate, 70 divided by 20 = money doubles in 3 1/2 years
At 2% interest your bond will double in 35 years!

Driver, actually all I want to do with my investments at the present time is to stay even with inflation or do a bit better. I don't expect to live long enough to double my money at these interest rates, that's for sure. So long as I can live nicely on my pension and social security each month and am able to save $1000 - $2000 a month, I'm happy. If it were not for my pension, I would outlive my money, that's for sure. At present, I'm living nicely and still can save money each month. I have a couple of Money Market Investments earning 1.65% interest - which is almost as much as I can get on a CD - but with the added advantage of liquidity.

When I can get 5% or better, I'll be even happier.

Mike, I never intended to imply you shouldn't leave your money in Money Market at 1.65% interest....and try to double your money faster. I threw the rule of doubling your money out there in case people don't know it.

I understand, there could be a time in life when you have to have access to that money......and you don't have access if - or shouldn't have access, if the market is down.

isellhondas

roadburner said:

tjc78 said:

without looking, I assume with a few options you are up over 100K on one of those.

Oh, no - $100K before you even glance at the option sheet.

Imagine the deal someone will get in 6-9 months with 4000 miles on it?

Yeah, but would you want to buy it after RB flogged it for those 4000?


Wouldn’t scare me.... cars are made to be driven! Drive it like you stole it....

I never have trouble selling my cars. When I posted On Facebook that the X3 was for sale I was contacted by a friend who wanted it. I have three guys waiting in line to buy my Jeep and a couple more who would like the Club Sport. 

Oh yeah, after having owned several collector type cars, I've had the notes on the windshield and the people who told me that if I ever decided to sell call them first etc.

Guess how many of these "buyers" came through when I called them six months or a year later?

Your results may vary.....

sda

Speaking of snow, we got some today in the Charlotte area.   About 3" where we are, roads will have black ice tonight.  As seen from my office 

sda

snakeweasel

jmonroe said:

Yes, they showed me the paper physically on a clipboard and after gave me a hard copy with my signature printed on it but that still creeped me out. Lots of potential for mischief. A nurse at a major local medical center was arrested recently for multiple identity thefts. I might trust the doc but who knows who's working in the office. Life is tough for dinosaurs.

Well I hope he enjoys his 3-year enlistment in the Marines.

Do you really think they'd want him? And if by some chance they accepted him (man, would I ever feel protected with that move), he'd probably never get his hooptie on the base, and another if by chance, he did it would be in a special section in the parking lot. jmonroe

In basic training you would never be allowed to have your car there, there is no need for it. Everywhere he goes he would either be walking or running. 

On a related note when I was about to get out of boot camp they cautioned us about getting on our cars and driving when we got home. 9 weeks of not even being in a car messes with your perception of speed and distance. My first day back I got in my car and got on the Interstate and got up to what I figured was 70 or so and was amazed at how fast everyone else was going as they zipped by me. That was until I looked at my speedometer and saw I was only doing 45.

snakeweasel

qbrozen said:

snakeweasel said:

qbrozen said:

but if you drive 7500 miles a year or less your cost per mile driven is way less with a low mileage lease. 

I doubt that. Unless maybe in the case of heavily subsidized leases on inexpensive vehicles.

in the example given 7500 miles for 300 a month comes to 48 cents a mile and 15000 miles for 400 a month comes to 32 cents a mile. Yes that way a per mile cost the 15000 miles is less per mile.

But what if you only averaged 7200 miles a year? In the low mileage lease you are paying 50 cents for every mile driven and in the high mileage lease you are paying 66.7 cents for every mile driven. 

Remember it's not what you get, it's what you use. 

Oh, I thought you were talking about the comparison I was making that you are better off buying used than leasing new if you drive so little. Yes, of course you don't want to pay for more miles in a lease than you will use. 

Oh I agree with buying used especially if you tend to keep cars. 

suydam

abacomike said:

I just rolled over one of my IRA's at my bank. I was getting 1.225% on 20,000+ and they gave me a 13 month CD at 1.75%. Looks like rates are beginning to rise. I long for the days of 5%+ CD interest rates - doubt we will get there soon unless something radical happens to the stock market and/or economy w/inflation.

I remember back in the late 1970's during the end of the Carter administration when my Dad took out a 66 month CD with an initial deposit of $250,000 and when the CD matured, he received $565,000+. I believe he was earning 17.8% interest at the time. That's when inflation was roaring at close to 20% for a short time back then. He had just retired down here to Florida. Boy, would I love to get an interest rate like that again.

You would not love trying to get a mortgage back then as we were trying to do for the first time. Sellers had to finance themselves because loan rates were so high. And in Ohio a whole bunch of banks failed and the Fed froze their assets — where many people had retirement accounts. Not a financially stable time.

ab348

Our weather wizards had a total swing and a miss today. When I turned in last night their forecast was 2-5cm of snow today, quickly changing to rain. When I got up this morning it had just started snowing. But it never stopped. Midday they amended their forecast to 5-10cm (2"-4"), then later admitted they got that wrong too. They finally settled in 15-25cm (6"-10") with not much rain at the end. I shoveled out twice today and it is miserable stuff.

driver100

Temperature dipping to 32 tonight in Tampa area. We got the electric blanket out

abacomike

driver100 said:

Mike, there is the rule of 70. Take the interest rate, and divide it into 70 and you will know how many years it takes money to double. 10% interest rate, 70 divided by 10, = money doubles in 7 years. 20% interest rate, 70 divided by 20 = money doubles in 3 1/2 years At 2% interest your bond will double in 35 years!

Driver, actually all I want to do with my investments at the present time is to stay even with inflation or do a bit better. I don't expect to live long enough to double my money at these interest rates, that's for sure. So long as I can live nicely on my pension and social security each month and am able to save $1000 - $2000 a month, I'm happy. If it were not for my pension, I would outlive my money, that's for sure. At present, I'm living nicely and still can save money each month. I have a couple of Money Market Investments earning 1.65% interest - which is almost as much as I can get on a CD - but with the added advantage of liquidity. When I can get 5% or better, I'll be even happier.

Mike, I never intended to imply you shouldn't leave your money in Money Market at 1.65% interest....and try to double your money faster. I threw the rule of doubling your money out there in case people don't know it. I understand, there could be a time in life when you have to have access to that money......and you don't have access if - or shouldn't have access, if the market is down.

Driver, honestly, I did not take your post negatively- but rather as you described - informational.  It (your post) brought back memories is my dad’s investments way back when,

What I was intending to communicate was that interest rates on short-term investments of less than 18 months at banks are beginning to rise.  I don’t Invest in bonds or stocks - I have to be very conservative at this point in my life.  I also allow interest to accumulate in each account - CD’s and money markets.  In fact, I usually save money each month by moving funds from my interest bearing checking account to one of my money markets.

abacomike

driver100 said:

Temperature dipping to 32 tonight in Tampa area. We got the electric blanket out

We’re going into the mid to low 40’s with highs in the low 60’s.  This has been one of the coldest winters i’ve ever lived through here in south Florida.  My brother said they are having frost because they are going into the high 20’s tonight near Jacksonville.

fintail

Low 50s and rain rain rain here today, cooling down to the upper 40s (normal) by tomorrow through the weekend, with more rain.

Fun to see the snow in Atlanta, Texas, Louisiana etc.

isellhondas

Rain ? Here? Oh, say it isn't so!

andres3

snakeweasel said:

jmonroe said:

Mr_Shiftright said:

oldfarmer50 said:

Yes, they showed me the paper physically on a clipboard and after gave me a hard copy with my signature printed on it but that still creeped me out. Lots of potential for mischief. A nurse at a major local medical center was arrested recently for multiple identity thefts. I might trust the doc but who knows who's working in the office.

Life is tough for dinosaurs.

Well I hope he enjoys his 3-year enlistment in the Marines.

Do you really think they'd want him?

And if by some chance they accepted him (man, would I ever feel protected with that move), he'd probably never get his hooptie on the base, and another if by chance, he did it would be in a special section in the parking lot.

jmonroe

In basic training you would never be allowed to have your car there, there is no need for it. Everywhere he goes he would either be walking or running. 

On a related note when I was about to get out of boot camp they cautioned us about getting on our cars and driving when we got home. 9 weeks of not even being in a car messes with your perception of speed and distance. My first day back I got in my car and got on the Interstate and got up to what I figured was 70 or so and was amazed at how fast everyone else was going as they zipped by me. That was until I looked at my speedometer and saw I was only doing 45.

It's amazing how fast skills deteriorate when not used. For example, after breaking my right arm some months ago, I pretty much have lost a ton of strength and flexibility in my right arm/elbow. If someone mugged me, I would be defending myself as a 1-armed man basically.

venture

Mr_Shiftright said:

I had my car's windshield replaced, headlight lenses polished, headlights re-aimed, new bulbs, and added two driving lights--this helps a lot!

Of course, I can't use all that lighting in everyday traffic as it must look like a 737 coming at you, but when there is no oncoming traffic at night, man, it really makes a difference.

I think, as we age, it's our eyes' inability to gather light. Also, for some, there is a "corona effect" when looking at headlights or streetlights. That's annoying.

I assume you meant cornea effect. A corona effect would be shocking.

Cataracts contribute to the glare a lot. Before I had mine removed driving at night was rather bothersome.

venture

graphicguy said:

My investments were the opposite of what my advisor told me to do.

In the ‘80s, right out of school, I bought property (when interest rates were high) but flipped the property for good profits. In the ‘90s, I was in startup companies (one went public and was then sold). The 00s, when my advisor said I should go more conservative, I cashed out of real estate and into stocks, which I’m still in.

Just now, I’m starting to sell off stocks, as I FEEL the run up is just about over. Going into more conservative investments to protect myself given my outgoing cash has gone way down.

Eeek! I hope the run-up in stocks continues a while longer. I just put a little more cash into investments - about 80% stocks and 20% bonds. I'm looking for a 30,000 DOW.

driver100

abacomike said:

driver100 said:

Temperature dipping to 32 tonight in Tampa area. We got the electric blanket out

We’re going into the mid to low 40’s with highs in the low 60’s.  This has been one of the coldest winters i’ve ever lived through here in south Florida.  My brother said they are having frost because they are going into the high 20’s tonight near Jacksonville.

Mike, hasn't been this cold....27 last night......in Tampa since 1981!
But, back to normal by Saturday.

I get it about fixed income investments too. You need a certain amount of income to pay everyday expenses, you can't risk that. If your pension and investment income are covering expenses....that money has to be preserved.

driver100

venture said:

Mr_Shiftright said:

I had my car's windshield replaced, headlight lenses polished, headlights re-aimed, new bulbs, and added two driving lights--this helps a lot!

Of course, I can't use all that lighting in everyday traffic as it must look like a 737 coming at you, but when there is no oncoming traffic at night, man, it really makes a difference.

I think, as we age, it's our eyes' inability to gather light. Also, for some, there is a "corona effect" when looking at headlights or streetlights. That's annoying.

I assume you meant cornea effect. A corona effect would be shocking.

Cataracts contribute to the glare a lot. Before I had mine removed driving at night was rather bothersome.

Maybe he keeps invisioning Toyota Coronas....

driver100

venture said:

graphicguy said:

My investments were the opposite of what my advisor told me to do.

In the ‘80s, right out of school, I bought property (when interest rates were high) but flipped the property for good profits. In the ‘90s, I was in startup companies (one went public and was then sold). The 00s, when my advisor said I should go more conservative, I cashed out of real estate and into stocks, which I’m still in.

Just now, I’m starting to sell off stocks, as I FEEL the run up is just about over. Going into more conservative investments to protect myself given my outgoing cash has gone way down.

Eeek! I hope the run-up in stocks continues a while longer. I just put a little more cash into investments - about 80% stocks and 20% bonds. I'm looking for a 30,000 DOW.

Reminds me of this incident before the crash in 1929:

JOE KENNEDY, a famous rich guy in his day, exited the stock market in timely fashion after a shoeshine boy gave him some stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good,

In other words, when everyone is jumping in and thinking it will never end...that is the time to exit!