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Old 12-21-2007, 02:17 PM   #61
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Maybe I'll post my CRD number on here...........
Well, that would give us a chance to check up on you...but that would make it personal, so nevermind.
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Old 12-21-2007, 03:01 PM   #62
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Originally Posted by SecondCor521 View Post
You can join if you're a relative of a vet, so I qualify because my Dad was USAF. Failing that, you can pay $20 to join some organization -- NMFA, I think -- and then join PenFed.

They're a top notch organization. I've had a second mortgage and a credit card with them and been very happy.

2Cor521
I went to their site and it states active or retired from services and the eligibility steming from a family member's service is that a family member is also a current member of Pen Fed. My husband spent 4 years in USAF, but many years ago and not retired from that service. I don't believe we are eligible as per their site.
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Old 12-21-2007, 03:14 PM   #63
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I went to their site and it states active or retired from services and the eligibility steming from a family member's service is that a family member is also a current member of Pen Fed. My husband spent 4 years in USAF, but many years ago and not retired from that service. I don't believe we are eligible as per their site.
If you go to the link I provided earlier, it will show you can join the National Organization of Military Families (NMFA) for $20 and get PenFed membership that way. You don't have to maintain your NMFA membership beyond the first year to retain your PenFed membership. All CU's have a motto "Once a member, always a member".

(Which is also something an ex girlfriend once said to me...'cept she used a different term for "member"...)
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Old 12-21-2007, 04:20 PM   #64
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Well, that would give us a chance to check up on you...but that would make it personal, so nevermind.
Don't we all love anonymity on here?
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Old 12-21-2007, 04:21 PM   #65
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(Which is also something an ex girlfriend once said to me...'cept she used a different term for "member"...)
REWahoo, you're killin' me!!
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Old 12-22-2007, 02:42 AM   #66
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For those of you buying PenFed CDs, do you purchase them as part of a tax-deferred account (IRA) or as part of your taxable account, and why?

I'm asking becasue I am in a high tax bracket right now so CD interest would be painful, but in a couple years that picture will change due to early retirement and I will be in a lower bracket. I have both taxable and tax-deferred accounts so I need to figure out how best to set up a CD ladder....
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Old 12-22-2007, 11:56 AM   #67
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Edit: Whoops, I just read that your husband didn't retire from the USAF. I'm not sure if my father actually retired from the USAF or not. I think not because he was only in for 9 years. Hmmm, well I guess I'm a fraudster. Apparently they don't check, though, because I've been a member for several years now.

Quote:
Originally Posted by mexmeme View Post
I went to their site and it states active or retired from services and the eligibility steming from a family member's service is that a family member is also a current member of Pen Fed. My husband spent 4 years in USAF, but many years ago and not retired from that service. I don't believe we are eligible as per their site.
If you start at:

https://www.penfed.org/membershipApp...elig01.1.1.asp

and then click on the first / top left link in the box that includes USAF, and then answer "No" twice, you'll get to this screen:

https://www.penfed.org/membershipApp...elig04.1.1.asp

which says:

"You're eligible to join if you have a family member or housemate who is:
  • Eligible to join Pentagon Federal
  • Currently a member
Does this apply to you?"


So since my father was retired from the USAF, that makes him eligible to join, which in turn makes me eligible to join per the first bullet point quoted above. I would think you'd be able to follow the same path.

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Old 12-22-2007, 09:02 PM   #68
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For those of you buying PenFed CDs, do you purchase them as part of a tax-deferred account (IRA) or as part of your taxable account, and why?

My PenFed CDs are taxable. (About 80% of my monetary assets are taxable.)

Not sure how to answer "why?" I had money from other CDs coming due at the same time that PenFed held a promotion for high interest rate CDs.
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Old 12-23-2007, 10:46 PM   #69
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I think the first thing to do is to precisely see exactly where you are currently spending money. You might see for example that you spend a lot of money on soda pop out of soda pop machines...
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Old 12-24-2007, 12:01 AM   #70
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I think the first thing to do is to precisely see exactly where you are currently spending money. You might see for example that you spend a lot of money on soda pop out of soda pop machines...
And if you do buy a lot of pop and hit the vending machines a bunch it's a savings opportunity: 12/22/07: Indiana Man Buys Truck With $25,000 In Change - Louisville News Story - WLKY Louisville
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Old 12-24-2007, 03:04 AM   #71
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I get the OP's general point. A $ saved in reduced spending is a $ less that needs to be generated for income to cover needs.

And of course, that idea works before or after retirement. Before retirement, it helps one to build wealth.

It is the way that most of us working stiffs have a chance of retiring.
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Old 12-25-2007, 04:01 PM   #72
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I lurk a lot but rarely post...

IMHO, Frugality as I define it will not help you accumulate wealth quickly. It will eventually but is a long and slow process. More income and spending smartly does.

Compare this...

The wife and I are 35ish. She works for a megacorp and I consult independently.
1. Drive a Porsche Cayenne..
2. Live in a mil dollor condo in Chicago...
3. One kid and one on the way. The kids are expensive as we decided that they will always be in nanny care and go to private schools.
4. Use a destination club membership to take 3-4 weeks of vacation every year during peak season. Try and fly First class whenever we can.
5. Use our boat 34 ft boat 20+ times in Lake Michigan during the summer.

to this...

1. Had 50 bucks to my name at 25. Upgraded my IT skills to be more billable. Burned a lot of midnight oil. Spent 13 months living in hotels and flying home every Friday to have the right kind of experience.
2. Made it a point to save 1/3 or gross salary before taxes. No exceptions. Anythig over it is play money.
3. Made it a point that one of us will always consult. Bigger income without worrying about benefits. The kicker. Can salt away 40%+ in Sep 401K.
4. The Mil Next door. Buy your home smartly. Bought two condos and merged them into a larger unit. Cost of purchase. 580K. Bought two more rental units in the same building before the boom.
5. Spending - Always eyed quality stuff to buy but bought it when price was right. Slickdeals and fatwallet.com save a lot of money. To give an idea, Frugal means buying a $15 shirt at Walmart. Spending smartly means buying a $100 shirt at $15 at Josbank.com and stocking up just in case.
6. Drove a Camry for 10 years before letting it go. Got the Cayenne for 15% less. Naturally, bought it a year old.
7. Travel - Fly 100,000 base miles every year with a bulk of them to nowhere. Reason. Top Tier perk is Anytime Anywhere mileage tickets with unlimited First Class. A risky bet but bought a High Country Club: membership very early in the game. The vacations are so inexpensive that it's a joke. The boat is a yearly lease. I write some of it off as a business expense. 25% of it is used for keeping clients happy and renting to friends.

Target Retirement date: Dec 31 2017.

As they say, as long as you keep the eye on the ball and move in the right direction, the point is WHEN and not IF.
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Old 12-25-2007, 04:30 PM   #73
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Bourne ,
What do you consider inexpensive for travel ? I really think $9,000 a year plus an inital outlay of $70,000 is a joke .Invested that $70,000 could bring between $3,500 and $7,000 so added with the annual dues that's $ 16,000 a year and one of the places is Orlando home to the really great vacation deals .You are jokeing right ?
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Old 12-25-2007, 09:07 PM   #74
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Moemg,

I was not joking. Beauty is in the eye of the beholder.

The wife and I bought into HCC at the Affiliate level when it was 30K. Including discounts and promotions, it costed us 25K plus 4.8K per year in dues. That may sound steep but here is my rationale...

25K membership is a lost opportunity of $1.25K (5%). Add that to 4.8K and you approximately get 6K. Now, that may sound steep to some but 21-25 days is approx $250 - $275 a night. More in ballpark of an average condo rental or a Westin/Hilton. Just that these provide more space than a high end hotel and are a cut above condo rentals.

Now this is what I call a joke...

Exclusive Resorts - Luxury Destination Club & Private Vacation Homes
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Old 12-25-2007, 10:37 PM   #75
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Techniques I employed in being frugal:
  • use Linux (or even BSD Unix) software instead of Microsoft products. (saved me hundreds of dollars in both software and hardware)
How does Linux "save in hardware" ? Can Linux run well on older /slower computers where Windows might craw ?

We have a bunch of working but older computers around the house - they are very slow with Windows XP - wondering if putting Linux on them might make them good "web access terminals" around house.

Where can I get Linux - free ? Thanks
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Old 12-26-2007, 08:08 AM   #76
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How does Linux "save in hardware" ? Can Linux run well on older /slower computers where Windows might craw ?

We have a bunch of working but older computers around the house - they are very slow with Windows XP - wondering if putting Linux on them might make them good "web access terminals" around house.

Where can I get Linux - free ? Thanks
Yes, Linux runs relatively well on older PCs. I convert older Windows PCs I am recycling out of general use to Linux and keep them in use for several additional years. There are lots of free Linux distributions (slightly different compilations of the basic OS, additional apps, windowing environments, etc.). I would recommend that you try Ubuntu. It is designed for ease of use and has excellent support for newbies through its online forums. You can download the installation program and burn it to a CD or order the CD if you are not comfortable burning ISO images to disks.
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Old 12-26-2007, 11:38 PM   #77
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Agree with what donheff wrote about Linux. If you want a little more guidance, you can buy any one of several Linux books at Borders or Barnes & Noble which include a DVD with the software. Try and get the latest edition.
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Old 12-26-2007, 11:55 PM   #78
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Speaking of books, I like to read and I like to save, so I buy books at local used bookstores, or online thru used booksellers at half.com.

Save a ton that way, and get to read what I
want.
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