The problem with bond funds... when interest rates go up, the value of the bonds go down.. and, at this point, interest rates can only go one direction. Bond funds trade bonds, and mark their value to market, so if you cash out, you can lose a lot of money in a supposedly safe investment.
If you are a long-term investor and can hold individual bonds until maturity, then this isn't an issue. But, to get proper diversity and to avoid risk, you'd need an awful lot of money to spread around.
The only time I can make a case for bonds is when interest rates are 9% or higher... and, that hasn't happened in over 15 years..
Just my take.... I'm not a professional investor, though I do hope to retire some day...
The one problem with bonds is as interest rates increase the value of the bond decreases as well as the value of the bond fund that has invested in it. With the possibility of higher inflation and higher interest rates I would suspect that the value of bonds will drop in 2-4 years.
Insured savings accunts will not decrease in value.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Just my take.... I'm not a professional investor, though I do hope to retire some day...
Me too, on both points...1) far from professional investor and 2) I hope to retire one day.
I think there are fairly secure ways to have an income, and one is dividend funds. I believe there are company bonds that pay higher rates of interest too, but aren't that long a term. In Canada, dividends are taxed at a much lower rate...and if stock prices rise you get that benefit as well.
I come from the school of not doing my own dental work, my own medical care, my own garage repairs or my own financial matters..........I leave it up to professionals, but Iknow there is a secure component and an unsecure equities, and the secure nets at least 5% per year (I am sure that is mostly from dividend paying stocks). One rule I have is I like to be able to live on the income from secure holdings if it is a bad year in stocks, it isn't good to withdraw money if the market is down.
I would suspect that the value of bonds will drop in 2-4 years.
Insured savings accunts will not decrease in value.
You are right about bonds I guess, but like I said up above...there are dividend paying stocks. There are ways to have an income, and that is what the lottery guy needs......a way to have some secure income and some income from equities if the market goes up. These days, the stock market has more potential, but hopefully there won't be another major calamity in the world.
Honda used to really stree the importance of doing a proper delivery. As far as they were concerned, it seemed like we should spend two hours doing a delivery. Never mind the fact it may have been a mini deal on a busy Saturday. The execs at Honda couldn't have cared less.
Still, I always did my best and my survey scores reflected that. I used to customeize my deliveries based on the customer. Some wanted a slow, methodical delivery and I would do this for them.
Others (my favorite) just wanted to get the hell out of there and they really wanted to figure things out for themselves. For theose people, I made sure to point out a few of the more difficult things and make sure they knew whare to find guidance in their manuals.
I would always call them a couple of days later to thank them and make sure the didn't have any questions.
In the time I was there, I watched the owner's manuals more than triple in size as more and more items were added to the cars.
Doing a delivery on a touring Odyssey with NAVI and DVD could easily take over an hour!
"...If you didn't put a dime down, I hope you bought gap insurance..."
When i bought the Eclipse I got 0% financing so I borrowed ever cent, even the sales tax. They didn't ask for a penny. I guess I was foolish not to get gap but I knew I had the cash sitting in the bank to cover the loan.
I invested the money in High-Yield bonds and by the time the car is paid off I'll have made about 5K interest. Nice little discount off the cost of the car.
BTW, Edmunds says my trade-in value is about $3K more than I now owe.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
If that's your kind of place I've got a similar "gentleman's farm" here in NY that's for sale. You can even see the Hudson through the trees. A little over 2 hours to NYC by train.
I would give you the Edmunds discount.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Well, even on a Honda you are going to owe more than it's worth for quite awhile if you put nothing down. As long as you know this and are financially able, you are OK.
Funny how little value the NAVI adds down the road considering how much it costs up front.
I have no idea about the worth of your TSX. Like all Honda products, they are great cars. They just didn't sell well and most people don't know what they even are. Acura has done a few like that.
"A general rule is that your age should be the amount you have in secured funds..."
In that case, 100% of mine should be in secured funds. :P
As for the stock market, I've been burned twice---year 2000 in the "dot com" crash, and back in '83 on a "Black Tuesday". "Once burned, twice warned; twice burned, thrice an idiot." No more market fluctuations for me.
Bonds, notes, futures, etc. not good now---I'll just keep my miserable 1.5% and sleep through the night. Silver would have been good---if I had been on the ground floor. We have four sets of the cousin's silver flatware coming up for auction the first of June. Projected bidding is $4K-$5K per set. There are some serving pieces projected to bring another $3K-$4k. If we top out around $20K, we'll be very pleased. Silver objects are doing well now.
"...I watched the owner's manuals more than triple in size..."
I am amazed at how you learned about all of the new gadgets---they have come to us so quickly over the last few years. I would have been as lost as a convict in the swamp. I still don't know all of the fancy things on our SRX. It's interesting that people just learn the things that they want to learn. I still can't do the Nav because i hate manuals. I like one-on-one instruction. My salesman was my age and not a good instructor, which he even admitted. A nice guy though.
There are some serving pieces projected to bring another $3K-$4k.
There's a retirement plan....live off your flatware!
I got burned in the tech wreck in 2000 and markets have gone down during bad times, but over all the market has made the most gains over time. As long as you have at least 10 years you can wait, it should go up. 1.5% doesn't even cover your tax rate or inflation. I don't have too much flatware I can sell.
There are a few retired people here. How do you get an income stream from your investments? Or do you have pensions?
They just said on ABC news tonight that many younger people are not going to university now. The cost loans averages $140,000 until graduation. The loan amount isn't worth having to repay, it is better just to start working and not have a $200,000 debt to start life...along with an average job.
Back to stocks though, you just need guts, imagine buying in when the Dow reached a low of 7500 and today is at 12,500, you would almost have doubled your investment? I was really thinking about it....just couldn't pull the trigger.
That won't work. Fezo wants you to WILL it to him, not SELL it to him.
LOL. Fezo could have a nice little business going. Lots of people don't have relatives, and they would like their valuables to go to a good home when they are gone. How about WillBook.com Now you can just will all your items to Fezo, for a small fee of course.
Good luck with that as I plan on living forever but if he were to BUY my place I would throw in the location of all buried coffee cans on the property.
I know several people who are following the "Fezo Method" of getting a new car. They befriend old people living in a nearby retirement village. As the oldsters health fails and they are unable to drive, the "Fezos" offer to take their cars off their hands at a cut-rate price. I've seen a lot of low milage Buicks purchased that way.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
It has to be remembered that the stock market has historically earned around 9% a year. Of course, some years it will do worse and some better.
If you are "earning" 1.5% in passbook savings, keep in mind that inflation usually averages around 3%.
I had a hell of a time in 2008 as I watched things go in the toilet but we have WAY more than recovered at this point. Last year we averaged a 13% gain.
Finally set the new TV up today. Interesting story, last night while I was putting together the new stand, the old TV died! Must have known what was happening (and that it was about to be sent to the basement playroom).
anyway, the new fancy beast is up and running. and it is certainly different. I guess it is the combo of 240hz and LED tech,but it is really different to watch. Seems to have the "soap opera effect"going. Better after turning off the motion effect feature, but still looks almost like 3D on normal shows.
My daughter the princess hates it, but it looks great on sports. WHich the girls never watch.
very annoying to spend all the money, and not like it. I hope like heck we get the adjustments tweaked and used to it soon, or I will be finding out what kind of restocking fee the store has!
It is like getting a different type of car (like a Genny when you are an Avalon person), because it seemed OK on a test drive.
My wife and I have good pensions because we worked 40 years rather than the traditional 30. We also have our Social Security. Those 4 checks more than cover what we need each month. Also, our health care was included with our pensions. Most of our savings came from four sources: (1) Selling 14 houses at really good profits (2) Buying and selling antiques on a small scale (3) Inheritance from 4 relatives. (4) Consulting work for 5 years after I retired. Even without the inheritance, we would have been fine. We have been truly blessed, and I am grateful for it. Most of it came from hard work.
I once asked our deceased rich cousin if he did well in the stock market on a regular basis. He responded by saying that he had never owned one share of stock. I replied that I was surprised. He said, "When you have $35 million, why would you care?" :P
Well, he might be afraid inflation will eat it up and his standard of living will fall (ha ha).
1)You were very ambitious to buy and remodel homes and then sell them again. Most people who have a good job don't take on extra work and risk like that. It takes a lot of courage to take your hard earned money, and then risk it on something that might not work.
3+4) Working a bit after retirement seems like a good plan. It allows your savings to grow...right when they are at their highest point. You can put off withdrawing money, especially in the early years when you tend to do a lot of the things you didn't do before, such as travel.
2)How do you accumulate relatives who can leave you an inheritance? I just know that ain't going to happen. Maybe I should be more pro-active, like Fezo.
I think it confirms what I believe...key to success is hard work and taking some risks....and having a few wealthy relatives doesn't hurt.
I had a hell of a time in 2008 as I watched things go in the toilet but we have WAY more than recovered at this point. Last year we averaged a 13% gain.
It always amazes me that people panic when the stock market goes down, and they sell. One article I read said it best. If you go to the store and see an item you want on sale for half price you would buy them. But when stocks go down people panic and sell. It should actually be looked at as a buying opportunity. If you buy when the market is down you can really do well.
stock market has historically earned around 9% a year.
Much better than 1.5%. I think a certain proportion of savings should go into stocks, it is the best hope for growth. Keep some in savings though, you don't want to withdraw too much when the market is down.
Probably for most people mutual funds are a good way to do it, unless you are willing to spend time studying the financial news.
Hi all- I've been lurking on the forum for about a year- finally had the nerve to post- so here's my sales story...
First off- a little back ground- live in NYC- married family with our first little one on the way- we currently lease a Camry- very happy- nice reliable, sturdy car.....
However- with the little one coming we decided we need a SUV. We previously had a Lincoln MKX- my big splurge- but been w/o a second car- or SUV for about a year....
Anyway- we eliminated a larger SUV pretty early on due to price and MPG- so the Veracruz, Pilot, Highlander, & CX-9 went away- leaving us with Forrester, CRV, Equinox, and Rav 4.
We decided on then CRV or Rav 4- Chevy reliability was an issue, and was non-flat rear floor on Forreser.
Seemed deals were better on CRV- so we decided on that first, assuming wife like it. Stay tuned.
So I decided to get several quotes via email on an EX 4WD CRV. I requested from about 15 dealers- (good thing about NYC area- lots of dealers close by)- got back 3 real offers- two of which were terrrible.
One dealer- Paul Miller Honda- gave a resonable offer- I planned on heading there this Mon to check out the car during a day off. However, this weekend while running errands we passed by a dealer - Open Road in Edison NJ- on a lark we decided to take a look.
We sat in an EX and luckily the wife liked it-we then decided to take it for a test spin- met the salesmen- nice guy- i know i can't post his name- but he was quite affable- took the CRV on regular roads and the highway- wanted to test the engine and road noise -supposed big issues w/ CRV.
During the drive the car handled well- had enough pep from the recent HP bump- not a rocket- but enough power for everyday driving. Wind noise wasnt too bad- nothing like the stories I've read on the 'net.
Next we went ahead and sat down to go over numbers. They didnt have the color combo we really wanted- pearl blue/grey - but they had one or two that we could live with. They came with a terrible offer to begin - so bad that I nearly walked then and there..... However since the guy was nice and didnt come off as a slickster my wife talked me into going for round 2- I gave them the offer that I had from the net to see if they could match-
They next came back with the car we liked- however w/ 2K of accessories we didnt want- useless ones as well- had it been reverse sensors or remote start we could have worked on that- They were willing to go to 1K on the extras- but I held firm that I didnt want them- was again about to walk- when MAGICALLY- the model we liked w/o the add ons was "available"
So- we had the color and price- and a deal was struck-not sure if I am allowed to post price- but I was very satisfied- brand new 2011 CRV EX 4WD- Urban metallic/ivory (tan) interior 36 month lease.
The F & I office was a breeze- no real hard sell on any mop and glo or etching, etc... in and out of there in 15 min- final prep took forever- about 90 min- with a 7 month pregnant wife late for dinner (about 8:30 PM at this time) its not a fun time ...
I "got my irish up" a bit during the negotiations- but my wife's patience and the fact that the salesmen didnt try any sleazy techniques that I've usually had to deal w/ duing previous pruchases -kept me on the lot...
In the end- we are quite happy- have a nice roomy SUV that's good on gas- in time for the little one. The car is beautiful & should be rock solid. Happy to join the Honda family- very excited.
I'm glad I got my first post in this forum on a happy subject.... Really enjoy reading the thoughts everyone shares here....
It def gave me a new perspective at the dealership - esp from ISELL- made me realize that there's a human being on the other side of the desk (altough I wasnt giving my money away).
Anyway- hope everyone enjoys the post- seems there's been a few good sales stories lately!!
And Richard- I apologize for the spelling in advance...
I'd be happy to post baby furniture, highchair, or nursery related home improvement sales stories/reviews should the forum like!!!!!
Now, see? This is why Richard is my target on the inheritance. Lots of money, old guy, no kids. Humors me....
Richards has deceased relatives leave him money and real estate. Mine leave me debts to some guy named Rocco.
We hit an estate sale yesterday that I saw a sign for. Made out OK which is a first - a nice recliner, an end table and bookshelves. They look good. I need to find such a sale with a nice Saab 9-3 convertible....
2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
I have mentioned that "soap opera effect" before. We have it on our Samsung LED. I think the LED is the cause. Makes film look like video tape, etc. We don't mind it and it is great for live events, sports, etc.
I am retired and have two pensions, SS for my wife and myself and have been making a few thousand a year doing some consulting.
About half our savings are in high grade, insured, individual municipal bonds and a municipal bond fund which I monitor on a daily basis. I love the tax free income. If interest rates start to kick up (which I don't expect until near or after the 2012 election) I will get out of the bonds. The rest is in various individual stocks which I tinker with all the time. We also keep a good bit of cash to use as the need arises.
A couple of months ago I got a great buy on a repossessed house that was run down and needing some TLC. One of my sons has been doing all the labor and he has got it looking great. The plan is to sell it in a couple of months and use the profit to buy another one. The key is getting the right house at the right price...and being able to pay cash and do all the work yourself.
Like Richard we have bought and sold about 15 different houses over the last 44 years and have done quite well there. 70's were great, 80's not so much, 90's pretty good and up thru about 2005 things were good. Now you have to be really careful.
We have been lucky a few times and overall, really blessed and extremely thankful for being so.
My folks had this idea about houses but their heart wasn't in it.
That said, they did great with one - bought this duplex down here that I (and then my wife, too) lived in for four years. They bought in 83 and sold in 87. Just after they sold that particular real estate bubble burst. They bought at $89K and sold at $163K. The guy that bought it put a lot of money into it and ended up selling it at a $10K loss - not including teh work he put in.
2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
Don't you worry one minute about that spelling. We'll take care of that after you've been here a few months. I'm easy on newcomers. :P We're so glad that you have decided to join us. I really enjoyed your three part story, and congratulations on the new purchase. We owned a CRV back in 2000 and liked it very much. My wife still misses that vehicle. You'll get good service and driving pleasure from it. Also, it is perfect with that little one coming soon.
Now that you have gotten your feet wet, jump in here any time. It's a group of super people. Thanks for the wonderful sales story, and welcome aboard.
As you have mentioned before, we do have a lot in common---fixing up houses, pensions, savings, politics, etc. On top of that, you're nice to everyone, but can hold your ground when you need to do so. You made a very good statement when you said, "Now you have to be really careful." A lot of work, planning, and staging go into flipping a house. It's not for everyone. For those who are willing and able, there are profits to be made.
I think you screwed up there. Could have saved a few bucks with the Veracruz but that would have put you in a family that is hard for most folks to swallow and it's not nearly as exciting.
I'd be happy to post baby furniture, highchair, or nursery related home improvement sales stories/reviews should the forum like!!!!!
Yeah we'd like. I just hope you don't get taken to the cleaners with those purchases too but we'll listen.
BTW, welcome aboard.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
I'd be happy to post baby furniture, highchair, or nursery related home improvement sales stories/reviews should the forum like!!!!!
I really enjoyed reading your story too, and you certainly can't go wrong with a CRV. Lots of people buy them and they are pretty much bulletproof as far as reliability is concerned.
I do have a question for you. Did you complete the sale all in one day? If you did, who drove the new car home? Actually, that makes me think of another question. Did the other salesman call you or did you call him to let him know you did find a car?
Sometimes out of the way dealers can actually give you a better price, they usually have lower overhead and the salesman don't have to make as much. On the other hand, I found big cities were a good place to buy cars because there is so much competition. I made a rule when I lived in the big city (Toronto), buy new cars in the city, and used cars in the country, and I made that rule because used cars seemed to be in much better condition that city cars.
That makes me think of another question. Where will you get the car serviced?
Thanks for actually posting, it was an excellent story and really well told, I didn't notice any spelling mistakes but that isn't exactly my forte.
Look forward to something on house repairs, TVs or dishwasher detergent (my favorite topic).
A couple of months ago I got a great buy on a repossessed house that was run down and needing some TLC.
Do you think this is a good time to buy a repossessed home and fix it up? I can't believe some of the prices that homes are going for.
On the other hand, I asked my SIL why there hasn't been more units available in the community we were looking at in Florida. She said it is a slow time of the year, but a lot of homes will become bank sale properties in a few months. They know people who are staying in their house for awhile, but the banks take time to release homes and it looks like they will be releasing them in a few months. we have bought and sold about 15 different houses over the last 44 years and have done quite well there.
I give you guys a lot of credit. I have seen some people on HGTV and they renovate homes for a living, and sometimes they lose or barely make a profit. It's risky, but a good way to build up some capital if it works.
You'll fit in just fine. My problem is in buying vs. leasing.
I think most of the people here would say buying is better than leasing. But, I think there are times when leasing might be better. These are some times when I think it is better to lease;
* If you are a business person, it might be easier to make the car tax deductible. * If you know you are going to be trading in the car in 3 years. * If you need a newer car, but don't have much to put down on a new car.
You probably won't come out ahead financially by leasing in very many cases, but there are times when it does make sense.
This happened to me. My 1988 Corsica was falling apart. I needed a reliable car to get to work on time, it was a fairly responsible job. I leased a Cavalier (6 cylinder so it would hold up). I was able to pay off my home at the time, and the car got me to work for 2 years until I got canned. But then I needed the car to get to another job that was 60 miles away, so it was nice to have a newer dependable car. The job required a fair bit of driving, so I wouldn't have got the job without a descent car.
I couldn't have done it very well if I had to buy it. I did put some money down to make the monthly payments where I wanted them. I think leasing was the right thing to do for me in that case.
Do you think this is a good time to buy a repossessed home and fix it up? I can't believe some of the prices that homes are going for.
It depends on what your intentions are. If it's a long term investment, preferably one you're going to live in, then yes. If it's with the intention of a quick flip, then unless it's a real diamond in the rough, definitely not.
To make money at the moment you have to add more value than a quick coat of paint. You either need an older house that's never been modernized, or a house that's either poorly designed and can be effectively remodeled, or one that's in a distressed condition.
By distressed I mean one that's physically damaged, but you should avoid at all costs one that's got mold or the notorious Chinese drywall.
not me sadly. ] a neighbor just got a new regal (Buick). Stopped to chat in the road a couple mornings back, and when he pulled away, it sounded awful stickish.
I saw him today at an event (with the car), and peeked inside, and what the hey, it had 3 pedals. And a T badge 9turbo).
chatted him up, and he said he had read about it being available with a manual, so he called a dealer. And was told not available to September. 2nd dealer, something about they don't have one (and did not seem interested in getting one, as they seem to not exist on any lot). Called a 3rd over in PA, and was told sure, come in and we will order one for you. He did, and 6 weeks later, it showed up!
nice looking titanium (dark) gray, black leather. And even more surprising than the stick, it has no moonroof.
let's see, an expensive Buick with a stick and no roof. Hope he doesn't want to trade out of this any time soon!
These are some times when I think it is better to lease;
See my comments below your examples:
*If you are a business person, it might be easier to make the car tax deductible.
My youngest brother fell into this category with his small business, for a few years, about 20 years ago but when the tax laws changed, leasing wasn’t beneficial for him anymore.
* If you know you are going to be trading in the car in 3 years.
My middle brother falls into this category. He has leased for so many years I can’t remember the last car he’s owned. He knows it’s more expensive to lease but he wants a new car every 3 years and he doesn’t want a car that is out of warranty and he’s willing to go this route for those wants. I’m sure he can afford it if he’s done it as long as he has.
FWIW, this is the brother that lives in South Florida that my youngest brother and I are going to visit starting Memorial Day week. So, you’ll all have to carry on without me that week.
*If you need a newer car, but don't have much to put down on a new car.
In the late '80s I worked with a guy who wanted to live beyond his means and found leasing, the first time, a great deal because he had something to trade. When the lease was up and he no longer had a trade that benefit went away. The fix for that? Lease for more months. The car biz just loves guys like him. :sick:
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
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If you are a long-term investor and can hold individual bonds until maturity, then this isn't an issue. But, to get proper diversity and to avoid risk, you'd need an awful lot of money to spread around.
The only time I can make a case for bonds is when interest rates are 9% or higher... and, that hasn't happened in over 15 years..
Just my take.... I'm not a professional investor, though I do hope to retire some day...
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Insured savings accunts will not decrease in value.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Me too, on both points...1) far from professional investor and 2) I hope to retire one day.
I think there are fairly secure ways to have an income, and one is dividend funds. I believe there are company bonds that pay higher rates of interest too, but aren't that long a term. In Canada, dividends are taxed at a much lower rate...and if stock prices rise you get that benefit as well.
I come from the school of not doing my own dental work, my own medical care, my own garage repairs or my own financial matters..........I leave it up to professionals, but Iknow there is a secure component and an unsecure equities, and the secure nets at least 5% per year (I am sure that is mostly from dividend paying stocks). One rule I have is I like to be able to live on the income from secure holdings if it is a bad year in stocks, it isn't good to withdraw money if the market is down.
Of course, there is also the good old mattress.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Insured savings accunts will not decrease in value.
You are right about bonds I guess, but like I said up above...there are dividend paying stocks. There are ways to have an income, and that is what the lottery guy needs......a way to have some secure income and some income from equities if the market goes up. These days, the stock market has more potential, but hopefully there won't be another major calamity in the world.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Still, I always did my best and my survey scores reflected that. I used to customeize my deliveries based on the customer. Some wanted a slow, methodical delivery and I would do this for them.
Others (my favorite) just wanted to get the hell out of there and they really wanted to figure things out for themselves. For theose people, I made sure to point out a few of the more difficult things and make sure they knew whare to find guidance in their manuals.
I would always call them a couple of days later to thank them and make sure the didn't have any questions.
In the time I was there, I watched the owner's manuals more than triple in size as more and more items were added to the cars.
Doing a delivery on a touring Odyssey with NAVI and DVD could easily take over an hour!
When i bought the Eclipse I got 0% financing so I borrowed ever cent, even the sales tax. They didn't ask for a penny. I guess I was foolish not to get gap but I knew I had the cash sitting in the bank to cover the loan.
I invested the money in High-Yield bonds and by the time the car is paid off I'll have made about 5K interest. Nice little discount off the cost of the car.
BTW, Edmunds says my trade-in value is about $3K more than I now owe.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
If that's your kind of place I've got a similar "gentleman's farm" here in NY that's for sale. You can even see the Hudson through the trees. A little over 2 hours to NYC by train.
I would give you the Edmunds discount.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Try Greek 10 year government bonds---15.7% Of course they WILL default at some point so you have to know when to get out.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
I'm confident in Hondas extraordinary resale value. I could break even at this point if I were to trade our TSX in after less than 2 years.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD
Funny how little value the NAVI adds down the road considering how much it costs up front.
I have no idea about the worth of your TSX. Like all Honda products, they are great cars. They just didn't sell well and most people don't know what they even are. Acura has done a few like that.
Tell these guys what kind of bonds you got that paid that kind of interest. :surprise:
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
In that case, 100% of mine should be in secured funds. :P
As for the stock market, I've been burned twice---year 2000 in the "dot com" crash, and back in '83 on a "Black Tuesday". "Once burned, twice warned; twice burned, thrice an idiot." No more market fluctuations for me.
Bonds, notes, futures, etc. not good now---I'll just keep my miserable 1.5% and sleep through the night. Silver would have been good---if I had been on the ground floor. We have four sets of the cousin's silver flatware coming up for auction the first of June. Projected bidding is $4K-$5K per set. There are some serving pieces projected to bring another $3K-$4k. If we top out around $20K, we'll be very pleased. Silver objects are doing well now.
Richard
I am amazed at how you learned about all of the new gadgets---they have come to us so quickly over the last few years. I would have been as lost as a convict in the swamp. I still don't know all of the fancy things on our SRX. It's interesting that people just learn the things that they want to learn. I still can't do the Nav because i hate manuals. I like one-on-one instruction. My salesman was my age and not a good instructor, which he even admitted. A nice guy though.
Richard
That won't work. Fezo wants you to WILL it to him, not SELL it to him. :P
Richard
There's a retirement plan....live off your flatware!
I got burned in the tech wreck in 2000 and markets have gone down during bad times, but over all the market has made the most gains over time. As long as you have at least 10 years you can wait, it should go up. 1.5% doesn't even cover your tax rate or inflation. I don't have too much flatware I can sell.
There are a few retired people here. How do you get an income stream from your investments? Or do you have pensions?
They just said on ABC news tonight that many younger people are not going to university now. The cost loans averages $140,000 until graduation. The loan amount isn't worth having to repay, it is better just to start working and not have a $200,000 debt to start life...along with an average job.
Back to stocks though, you just need guts, imagine buying in when the Dow reached a low of 7500 and today is at 12,500, you would almost have doubled your investment? I was really thinking about it....just couldn't pull the trigger.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
LOL. Fezo could have a nice little business going. Lots of people don't have relatives, and they would like their valuables to go to a good home when they are gone. How about WillBook.com Now you can just will all your items to Fezo, for a small fee of course.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Vanguard High-Yield Bond Fund. Was paying over 10% a few years ago but the NAV has risen a lot so the yield is down to just under 6%.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Good luck with that as I plan on living forever but if he were to BUY my place I would throw in the location of all buried coffee cans on the property.
I know several people who are following the "Fezo Method" of getting a new car. They befriend old people living in a nearby retirement village. As the oldsters health fails and they are unable to drive, the "Fezos" offer to take their cars off their hands at a cut-rate price. I've seen a lot of low milage Buicks purchased that way.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Ask one of them to send in their sales story to the Sales Fronlines...it could make for an interesting story.
Good buy on the Vanguard fund.....and nothing wrong with 6% as a secure component in a financial plan.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Richard makes more on inherited silver than I've ended up with on all inheritance. Sigh....
If you are "earning" 1.5% in passbook savings, keep in mind that inflation usually averages around 3%.
I had a hell of a time in 2008 as I watched things go in the toilet but we have WAY more than recovered at this point. Last year we averaged a 13% gain.
anyway, the new fancy beast is up and running. and it is certainly different. I guess it is the combo of 240hz and LED tech,but it is really different to watch. Seems to have the "soap opera effect"going. Better after turning off the motion effect feature, but still looks almost like 3D on normal shows.
My daughter the princess hates it, but it looks great on sports. WHich the girls never watch.
very annoying to spend all the money, and not like it. I hope like heck we get the adjustments tweaked and used to it soon, or I will be finding out what kind of restocking fee the store has!
It is like getting a different type of car (like a Genny when you are an Avalon person), because it seemed OK on a test drive.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Richard
Richard
My wife and I have good pensions because we worked 40 years rather than the traditional 30. We also have our Social Security. Those 4 checks more than cover what we need each month. Also, our health care was included with our pensions. Most of our savings came from four sources: (1) Selling 14 houses at really good profits (2) Buying and selling antiques on a small scale (3) Inheritance from 4 relatives. (4) Consulting work for 5 years after I retired. Even without the inheritance, we would have been fine. We have been truly blessed, and I am grateful for it. Most of it came from hard work.
I once asked our deceased rich cousin if he did well in the stock market on a regular basis. He responded by saying that he had never owned one share of stock. I replied that I was surprised. He said, "When you have $35 million, why would you care?" :P
Richard
Well, he might be afraid inflation will eat it up and his standard of living will fall (ha ha).
1)You were very ambitious to buy and remodel homes and then sell them again. Most people who have a good job don't take on extra work and risk like that. It takes a lot of courage to take your hard earned money, and then risk it on something that might not work.
3+4) Working a bit after retirement seems like a good plan. It allows your savings to grow...right when they are at their highest point. You can put off withdrawing money, especially in the early years when you tend to do a lot of the things you didn't do before, such as travel.
2)How do you accumulate relatives who can leave you an inheritance? I just know that ain't going to happen. Maybe I should be more pro-active, like Fezo.
I think it confirms what I believe...key to success is hard work and taking some risks....and having a few wealthy relatives doesn't hurt.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
It always amazes me that people panic when the stock market goes down, and they sell. One article I read said it best. If you go to the store and see an item you want on sale for half price you would buy them. But when stocks go down people panic and sell. It should actually be looked at as a buying opportunity. If you buy when the market is down you can really do well.
stock market has historically earned around 9% a year.
Much better than 1.5%. I think a certain proportion of savings should go into stocks, it is the best hope for growth. Keep some in savings though, you don't want to withdraw too much when the market is down.
Probably for most people mutual funds are a good way to do it, unless you are willing to spend time studying the financial news.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
I've been lurking on the forum for about a year- finally had the nerve to post- so here's my sales story...
First off- a little back ground- live in NYC- married family with our first little one on the way- we currently lease a Camry- very happy- nice reliable, sturdy car.....
However- with the little one coming we decided we need a SUV. We previously had a Lincoln MKX- my big splurge- but been w/o a second car- or SUV for about a year....
Anyway- we eliminated a larger SUV pretty early on due to price and MPG- so the Veracruz, Pilot, Highlander, & CX-9 went away- leaving us with Forrester, CRV, Equinox, and Rav 4.
We decided on then CRV or Rav 4- Chevy reliability was an issue, and was non-flat rear floor on Forreser.
Seemed deals were better on CRV- so we decided on that first, assuming wife like it. Stay tuned.
One dealer- Paul Miller Honda- gave a resonable offer- I planned on heading there this Mon to check out the car during a day off. However, this weekend while running errands we passed by a dealer - Open Road in Edison NJ- on a lark we decided to take a look.
We sat in an EX and luckily the wife liked it-we then decided to take it for a test spin- met the salesmen- nice guy- i know i can't post his name- but he was quite affable- took the CRV on regular roads and the highway- wanted to test the engine and road noise -supposed big issues w/ CRV.
During the drive the car handled well- had enough pep from the recent HP bump- not a rocket- but enough power for everyday driving. Wind noise wasnt too bad- nothing like the stories I've read on the 'net.
Next we went ahead and sat down to go over numbers. They didnt have the color combo we really wanted- pearl blue/grey - but they had one or two that we could live with.
They came with a terrible offer to begin - so bad that I nearly walked then and there.....
However since the guy was nice and didnt come off as a slickster my wife talked me into going for round 2- I gave them the offer that I had from the net to see if they could match-
They next came back with the car we liked- however w/ 2K of accessories we didnt want- useless ones as well- had it been reverse sensors or remote start we could have worked on that- They were willing to go to 1K on the extras- but I held firm that I didnt want them- was again about to walk- when MAGICALLY- the model we liked w/o the add ons was "available"
Part III coming up.
The F & I office was a breeze- no real hard sell on any mop and glo or etching, etc... in and out of there in 15 min- final prep took forever- about 90 min- with a 7 month pregnant wife late for dinner (about 8:30 PM at this time) its not a fun time ...
I "got my irish up" a bit during the negotiations- but my wife's patience and the fact that the salesmen didnt try any sleazy techniques that I've usually had to deal w/ duing previous pruchases -kept me on the lot...
In the end- we are quite happy- have a nice roomy SUV that's good on gas- in time for the little one. The car is beautiful & should be rock solid. Happy to join the Honda family- very excited.
I'm glad I got my first post in this forum on a happy subject.... Really enjoy reading the thoughts everyone shares here....
It def gave me a new perspective at the dealership - esp from ISELL- made me realize that there's a human being on the other side of the desk (altough I wasnt giving my money away).
Anyway- hope everyone enjoys the post- seems there's been a few good sales stories lately!!
And Richard- I apologize for the spelling in advance...
I'd be happy to post baby furniture, highchair, or nursery related home improvement sales stories/reviews should the forum like!!!!!
Richards has deceased relatives leave him money and real estate. Mine leave me debts to some guy named Rocco.
We hit an estate sale yesterday that I saw a sign for. Made out OK which is a first - a nice recliner, an end table and bookshelves. They look good. I need to find such a sale with a nice Saab 9-3 convertible....
2013 LX 570 2016 LS 460
Now, do you know anything about dish washer detergent ?
2013 LX 570 2016 LS 460
About half our savings are in high grade, insured, individual municipal bonds and a municipal bond fund which I monitor on a daily basis. I love the tax free income. If interest rates start to kick up (which I don't expect until near or after the 2012 election) I will get out of the bonds. The rest is in various individual stocks which I tinker with all the time. We also keep a good bit of cash to use as the need arises.
A couple of months ago I got a great buy on a repossessed house that was run down and needing some TLC. One of my sons has been doing all the labor and he has got it looking great. The plan is to sell it in a couple of months and use the profit to buy another one. The key is getting the right house at the right price...and being able to pay cash and do all the work yourself.
Like Richard we have bought and sold about 15 different houses over the last 44 years and have done quite well there. 70's were great, 80's not so much, 90's pretty good and up thru about 2005 things were good. Now you have to be really careful.
We have been lucky a few times and overall, really blessed and extremely thankful for being so.
2013 LX 570 2016 LS 460
That said, they did great with one - bought this duplex down here that I (and then my wife, too) lived in for four years. They bought in 83 and sold in 87. Just after they sold that particular real estate bubble burst. They bought at $89K and sold at $163K. The guy that bought it put a lot of money into it and ended up selling it at a $10K loss - not including teh work he put in.
Now that you have gotten your feet wet, jump in here any time. It's a group of super people. Thanks for the wonderful sales story, and welcome aboard.
Richard
I only humor you because you're a nice guy and you make me laugh. Still, that doesn't translate into dollars, does it? :P
Richard
Richard
I think you screwed up there. Could have saved a few bucks with the Veracruz but that would have put you in a family that is hard for most folks to swallow and it's not nearly as exciting.
I'd be happy to post baby furniture, highchair, or nursery related home improvement sales stories/reviews should the forum like!!!!!
Yeah we'd like. I just hope you don't get taken to the cleaners with those purchases too but we'll listen.
BTW, welcome aboard.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
I really enjoyed reading your story too, and you certainly can't go wrong with a CRV. Lots of people buy them and they are pretty much bulletproof as far as reliability is concerned.
I do have a question for you. Did you complete the sale all in one day? If you did, who drove the new car home? Actually, that makes me think of another question. Did the other salesman call you or did you call him to let him know you did find a car?
Sometimes out of the way dealers can actually give you a better price, they usually have lower overhead and the salesman don't have to make as much. On the other hand, I found big cities were a good place to buy cars because there is so much competition. I made a rule when I lived in the big city (Toronto), buy new cars in the city, and used cars in the country, and I made that rule because used cars seemed to be in much better condition that city cars.
That makes me think of another question. Where will you get the car serviced?
Thanks for actually posting, it was an excellent story and really well told, I didn't notice any spelling mistakes but that isn't exactly my forte.
Look forward to something on house repairs, TVs or dishwasher detergent (my favorite topic).
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
You'll fit in just fine. My problem is in buying vs. leasing.
I thought we had a sort of unanimous opinion that leasing was bad.
Kind of like having a renter in a homeowners group.
Do I get to post about buying every time I break out an AMEX card and
get a car at the airport? I can upgrade into a Caddy with the best of them.
2013 Mustang GT, 2001 GMC Yukon Denali
Do you think this is a good time to buy a repossessed home and fix it up? I can't believe some of the prices that homes are going for.
On the other hand, I asked my SIL why there hasn't been more units available in the community we were looking at in Florida. She said it is a slow time of the year, but a lot of homes will become bank sale properties in a few months. They know people who are staying in their house for awhile, but the banks take time to release homes and it looks like they will be releasing them in a few months.
we have bought and sold about 15 different houses over the last 44 years and have done quite well there.
I give you guys a lot of credit. I have seen some people on HGTV and they renovate homes for a living, and sometimes they lose or barely make a profit. It's risky, but a good way to build up some capital if it works.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
I think most of the people here would say buying is better than leasing. But, I think there are times when leasing might be better. These are some times when I think it is better to lease;
* If you are a business person, it might be easier to make the car tax deductible.
* If you know you are going to be trading in the car in 3 years.
* If you need a newer car, but don't have much to put down on a new car.
You probably won't come out ahead financially by leasing in very many cases, but there are times when it does make sense.
This happened to me. My 1988 Corsica was falling apart. I needed a reliable car to get to work on time, it was a fairly responsible job. I leased a Cavalier (6 cylinder so it would hold up). I was able to pay off my home at the time, and the car got me to work for 2 years until I got canned. But then I needed the car to get to another job that was 60 miles away, so it was nice to have a newer dependable car. The job required a fair bit of driving, so I wouldn't have got the job without a descent car.
I couldn't have done it very well if I had to buy it. I did put some money down to make the monthly payments where I wanted them. I think leasing was the right thing to do for me in that case.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
It depends on what your intentions are. If it's a long term investment, preferably one you're going to live in, then yes.
If it's with the intention of a quick flip, then unless it's a real diamond in the rough, definitely not.
To make money at the moment you have to add more value than a quick coat of paint.
You either need an older house that's never been modernized, or a house that's either poorly designed and can be effectively remodeled, or one that's in a distressed condition.
By distressed I mean one that's physically damaged, but you should avoid at all costs one that's got mold or the notorious Chinese drywall.
anyway, my daughter played with it, and supposedly made it much better (the rest of the family agreed, I have not seen it yet).
The way it was was fantastic for sports, but horrid for watching normal episodic TV shows. Have not tried a DVD yet.
so hopefully the crisis is averted.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
]
a neighbor just got a new regal (Buick). Stopped to chat in the road a couple mornings back, and when he pulled away, it sounded awful stickish.
I saw him today at an event (with the car), and peeked inside, and what the hey, it had 3 pedals. And a T badge 9turbo).
chatted him up, and he said he had read about it being available with a manual, so he called a dealer. And was told not available to September. 2nd dealer, something about they don't have one (and did not seem interested in getting one, as they seem to not exist on any lot). Called a 3rd over in PA, and was told sure, come in and we will order one for you. He did, and 6 weeks later, it showed up!
nice looking titanium (dark) gray, black leather. And even more surprising than the stick, it has no moonroof.
let's see, an expensive Buick with a stick and no roof. Hope he doesn't want to trade out of this any time soon!
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
See my comments below your examples:
*If you are a business person, it might be easier to make the car tax deductible.
My youngest brother fell into this category with his small business, for a few years, about 20 years ago but when the tax laws changed, leasing wasn’t beneficial for him anymore.
* If you know you are going to be trading in the car in 3 years.
My middle brother falls into this category. He has leased for so many years I can’t remember the last car he’s owned. He knows it’s more expensive to lease but he wants a new car every 3 years and he doesn’t want a car that is out of warranty and he’s willing to go this route for those wants. I’m sure he can afford it if he’s done it as long as he has.
FWIW, this is the brother that lives in South Florida that my youngest brother and I are going to visit starting Memorial Day week. So, you’ll all have to carry on without me that week.
*If you need a newer car, but don't have much to put down on a new car.
In the late '80s I worked with a guy who wanted to live beyond his means and found leasing, the first time, a great deal because he had something to trade. When the lease was up and he no longer had a trade that benefit went away. The fix for that? Lease for more months. The car biz just loves guys like him. :sick:
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl