Money Magazine Retirement Article

[MRGALT2U]

Originally Posted by wanderer69

What month was it published?* Is it online?

December, inside the back cover. Don't think it is on-=line.
Didn't check.

JG

[justin]

Originally Posted by BabyApe

Next month I think Money should spotlight Justin and his quest for $1 million of 0% APR credit.

I want to be just another number in the CC company's files. No Money profile for me. Besides, the amounts I'll be making from the zero percent CC offers is very small relative to my family's earned income and returns from traditional investments.

Funny that I just read this post. Just got off the phone from the CC company. They wanted to know when they could send me the 0% balance transfer check from my latest CC I received. They're so generous

xxxxx

[acg]

Originally Posted by BabyApe

I thought about what JohnGalt2U said and although it seems to make sense for the CC cos to shut guys like you down I don't think they would.* They know that they are vulnerable to this kind of thing but it is so incredibly minor compared to what they are making by hooking everyone else on their credit card it's just a cost of doing business.* Plus how many people in our society today have the discipline, administration skills, and gratification postponement ability of Justin?* Even if a 1000 people tried it at the beginning enough would end up spending the advanced cash and it would be profitable for the CC company.* *

I checked my po box today but no offers.

A few years back, I rec'd a free offer from an unknown bank (I think in Des Moines) which gave me a $10k line of credit and sent free access checks...offering 1% free bonus money! So every month, they would send me a blank check, which I would write for $10k and cash into my savings account (interest back then was @ 8% too!). When I would recieve my monthly statement, I would send them back a check for $9900 (less my 1% bonus!). Another access check would come in the mail, and I repeated the process. This went on well over a year (of which I gained over $1200 plus 8% on their money! (OPM* ).

All it cost me back then was the cost of postage (no on-line banking or auto pay programs).

I told all my close friends, (none of which took advantage of the free money by the way)...a year or so later, the bank finally got wise and stopped sending me the free access checks

It was fun while it lasted. (Although I played with guilt in my mind for a while thinking it was fraud...but hey, they kept sending me this "offer I couldn't refuse"!

[acg]

Great article and congratulations on your ER and FI. Enjoy your travels...

[justin]

Originally Posted by BabyApe

I thought about what JohnGalt2U said and although it seems to make sense for the CC cos to shut guys like you down I don't think they would. They know that they are vulnerable to this kind of thing but it is so incredibly minor compared to what they are making by hooking everyone else on their credit card it's just a cost of doing business. Plus how many people in our society today have the discipline, administration skills, and gratification postponement ability of Justin? Even if a 1000 people tried it at the beginning enough would end up spending the advanced cash and it would be profitable for the CC company.

The general public has a hard enough time depositing their monthly paycheck in time before their rent check and light bill check get cashed (assuming they wrote the checks for those bills on time). I guess I'm accustomed to zero failure tolerance at work, and I conduct my personal business with the same attention to detail. I'm sure many others here are like me. The general population - probably not many. (sorry SWR for hijacking your thread!).

[haha]

Originally Posted by justin

I guess I'm accustomed to zero failure tolerance at work, and I conduct my personal business with the same attention to detail.*

I think you have said that you are married, Justin. How do you keep your wife from rebelling over your zero tolerance protocols?

If there is anything for which I need my wife's cooperation, I have to allow a very large slop factor in time and money, or it leads to resentment.

Ha

[justin]

Originally Posted by HaHa

I think you have said that you are married, Justin. How do you keep your wife from rebelling over your zero tolerance protocols?

Zero tolerance for failure. Define "failure" appropriately, and with diligence, you won't fail. I don't have unreasonable expectations. We discuss important things, and agree on how to approach things. Realistic goal setting is important. Design some slack into systems to compensate for unknowns (spousal cooperation can be an unknown).

[MRGALT2U]

Originally Posted by justin

(spousal cooperation can be an unknown).

In some cases it is ALWAYS an unknown

JG

[SteveR]

Originally Posted by MRGALT2U

In some cases it is ALWAYS an unknown*

JG

That would cover just about everying in a marriage.

My spousal unit is still making the transition from her former "spend more, save less" life style to one of save more spend less. She is now maxed out in her 401(k) and I had her take her bonus and put as much as she could into "catch up contributions." The rest went into a small spending account that is hers alone so she can still get the emotional rewards from retail therapy she seems to need from time to time.

[Jay_Gatsby]

Originally Posted by SteveR

That would cover just about everying in a marriage.*

My spousal unit is still making the transition from her former "spend more, save less" life style to one of save more spend less.* She is now maxed out in her 401(k) and I had her take her bonus and put as much as she could into "catch up contributions."* The rest went into a small spending account that is hers alone so she can still get the emotional rewards from retail therapy she seems to need from time to time.*

"Retail Therapy" -- great term

[mathjak107]

we are working on a portfolio makeover article with them now..we are doing the photo shoot wed...this sounds pretty exciting...more to follow.