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Old 08-10-2010, 06:20 AM   #41
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After you borrow it and read it, you can still buy it somewhere (I'd recommend someplace like the used copies on Amazon.com -- they are usually very cheap there.)
When shopping for used books let these websites do your shopping for you:

isbn.nu: search for books and compare prices—fast!

or

BookFinder.com: Search for New & Used Books, Textbooks, Out-of-Print and Rare Books
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Old 08-10-2010, 09:20 AM   #42
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Thank you for the book source Ron.
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Old 08-10-2010, 09:48 AM   #43
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If you are used to doing the $2000 a month, I would keep doing it, as you are "used to" not using the money for monthly bills. One thing you could do is open an ING Direct Orange Account or a Schwab or Vanguard MM account. You can let the money accrue while you learn about doing things yourself. That way, you will build up a little "stash money" that you can "learn with" until you are comfortable working with the "serious money"...........just a thought.......

You are getting a lot of good and helpful advice on this thread from the other posters...........
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Old 08-10-2010, 09:57 AM   #44
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Great idea Finance. The money comes from a credit union acct that is separate from our daily expense acct, so there isn't the temptation to spend it like it would be if it were in our general checking account.

I hadn't thought about opening an acct though and just putting it in a money market fund. I have an existing Schwab acct so I'll look into doing that today.
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Old 08-10-2010, 09:58 AM   #45
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Great idea Finance. The money comes from a credit union acct that is separate from our daily expense acct, so there isn't the temptation to spend it like it would be if it were in our general checking account.

I hadn't thought about opening an acct though and just putting it in a money market fund. I have an existing Schwab acct so I'll look into doing that today.
Sounds like a plan..........
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Old 08-10-2010, 10:13 AM   #46
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Surprisingly enough I just learned that my credit union has a higher return than the Schwab money mkt account.

Schwab's return is .02%. My credit union acct is .4% and since I'm not tempted to spend money from the credit union account I think I'll leave it there for now.

Thank you for all the suggestions - I'm learning a tremendous amount just from taking the actions that everyone is so graciously suggesting.

BTW, I've also started putting together a portfolio profile so that I can ask a question on the Boglehead forum. That exercise has been eye popping. We're all over the map with our funds and allocations....and here I thought our financial advisor knew the big picture across all of our accounts and was directing us well....NOT!
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Old 08-10-2010, 10:13 AM   #47
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Yep, that's what I thought I gleaned from a quick review of this situation. But in this case, the cash value is less than the premiums paid in so there's no tax consequences for taking the cash value (and thus *in this case* no point to doing a 1035), only the surrender charges -- but it may help others who may search the forum in the future with a similar question in a different situation. If the cash value were significantly higher than the premiums paid in, a tax-free 1035 exchange into a low cost annuity (such as a Vanguard variable annuity) would likely be an option worth considering since other options would trigger taxes and (if under 59 1/2) penalties.
ziggy.......wouldn't a 1035 exchange be potentially useful even if cash value were lower than premiums paid in . That way, you would preserve the basis
(higher than cash value) and any gains in vaue up to the basis would be tax-free. Of course, you'd have to weigh that against any extra fees in the annuity and being "locked-in" until 59.5 (?) yrs old.
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Old 08-10-2010, 10:17 AM   #48
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Surprisingly enough I just learned that my credit union has a higher return than the Schwab money mkt account.

Schwab's return is .02%. My credit union acct is .4% and since I'm not tempted to spend money from the credit union account I think I'll leave it there for now.

Thank you for all the suggestions - I'm learning a tremendous amount just from taking the actions that everyone is so graciously suggesting.

BTW, I've also started putting together a portfolio profile so that I can ask a question on the Boglehead forum. That exercise has been eye popping. We're all over the map with our funds and allocations....and here I thought our financial advisor knew the big picture across all of our accounts and was directing us well....NOT!
Have you looked at Schwab's High Yield savings account and compared that to any high yield account at your CU?

-- Rita
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Old 08-10-2010, 10:46 AM   #49
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ING Direct Orange account is at 1.10%, I have one myself.............also, Rita has a good point. .40 is too low..........

As far as your asset allocation being all over the map, I am not surprised. Most advisors are only concerned with the money they are DRAWING a fee from. I see that happen all the time............
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Old 08-10-2010, 10:55 AM   #50
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i wouldn't spend too much energy in understanding the rhyme or reason of your current AA. channel that energy into the future...BH's will tell you it is wack and to dump the FA, but you already know that.
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Old 08-10-2010, 11:02 AM   #51
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Hi Ron, I'd love to have a clean slate and not worry about having to document current but the BH template requires me to list everything we have now before I can ask a question about future...plus it's a good exercise for me. I'm learning as I go.
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Next Question - Do I really need supplemental disability ins?
Old 08-10-2010, 11:05 AM   #52
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Next Question - Do I really need supplemental disability ins?

Ameriprise convinced me that I'm facing doom and gloom without supplemental disability. The policy is $134/month.

I have 70% of salary coverage at work.
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Old 08-10-2010, 11:10 AM   #53
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Ameriprise convinced me that I'm facing doom and gloom without supplemental disability. The policy is $134/month.

I have 70% of salary coverage at work.
Based on your income and outgo, it sounds like 70% of your salary would be sufficient for you -- especially since you aren't the sole wage earner in the household. I think it might depend on the details of the employer disability policy.

My employer disability will provide 2/3 of my salary as long as I'm unable to work (up to age 65) and kicks in after 6 months.

Some folks prefer to have disability covered outside their employer's umbrella (since if you lose the job you lose the coverage), but even then I doubt the Ameriprise product is priced competitively.
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Old 08-10-2010, 11:25 AM   #54
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No financial advice. Looks like your doing pretty well, with a few hiccups. No problem, Mon! Anyway, welcome to Nevada!
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Old 08-10-2010, 11:46 AM   #55
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Thanks for the welcome Dan. We ABSOLUTELY love it here. We are still several years from retirement but we knew we wanted to retire here in your great state so took the leap last March and moved here from Texas....good riddance to the bugs and humidity!!
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Old 08-10-2010, 10:50 PM   #56
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Isn't Henderson the site of a WalMart distribution center?

Anyhow, also wanted to add that you can get an account with Alliant Credit Union that's paying 1.5%...Alliant Credit Union, I believe. I've had an account with them for a few years now and have been very pleased with them.

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Old 08-11-2010, 12:23 AM   #57
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Hi 2Cor,

Love your quote! It fits my situation right now perfectly.

There may be a Wal-Mart distro center here but not sure. We've been here about five months so am still learning what our new home is all about.

And thanks for the credit union tip. That rate even beats the American Express Bank MM rate that I found (1.3%). Unfortunately I don't belong to any of the qualifying organizations so am not eligible to join.
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Old 08-11-2010, 02:24 AM   #58
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Isn't Henderson the site of a WalMart distribution center?
Henderson, NC is. But from the remark about getting rid of the bugs and humidity, I guess that Lisa might be in Henderson, NV.
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Old 08-11-2010, 08:46 AM   #59
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And thanks for the credit union tip. That rate even beats the American Express Bank MM rate that I found (1.3%). Unfortunately I don't belong to any of the qualifying organizations so am not eligible to join.
pls look again. You can join any PTA and become eligible. I think there's
a link to some national PTA org on their site for $15 or $25 but I just walked next door and joined the local elementary school PTA for $6 instead.
I've been pleased w/ Alliant also.
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Old 08-11-2010, 08:47 AM   #60
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Hi Nick, yes we're in Henderson, NV.

Hi Kane, I had no idea I could join a PTA since we have no kids. Right now we're leaning toward the American Express Bank. It is slightly lower at 1.3% but we already have some accounts there.
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