Search results

I am nibbling a bit by buying the whole market. I have some cash from a house sale that I was looking for an opportunity to buy in. I have changed my buy in points as I now believe we could go very low.

I have established buy triggers at every 3000 point loss of Dow. I dont know how low we will go but I have a plan all the way down to 8000. After that, I will just watch. My guess is 16000. Who knows?

I asked the Wells Fargo rep if it would help if I set up payments from my retirement accounts under 72t and all I heard was crickets. I'll look into the math for this today . I'll pay tax on the distributions and I'll need to continue those payments for 5 years or until 59.5. Is that correct?I'm...

Op here. Yes, this is for a second home which complicates things even more. I am currently working two avenues. A mortgage with Pen Fed and a heloc with BoA. I have calculated that the penalty for breaking my CDs wouldn't be much worse than the lenders closing costs so that wouldn't be too bad...

I think I need to study different ways to access capital in ER. I assumed a loan wouldn't be a problem. Silly me. I've got an application going for a home equity loan at 10 percent of the value of my home. If they turn that down it sure will make me wonder.

Thanks for the input. If we break some PenFed CDs we would only be 100 thousand short. The penalty seems stiff, 30 percent of the interest we would have earned if kept to maturity. Not happy about that but we'd save on some closing costs. I'm thinking we could find a bank or credit union to lend...

We've been turned down by Wells Fargo for a mortgage for a second home based on a poor debt to income ratio of about 80 percent, even if we put 20 percent down. We have more than enough assets to pay this note but only have the wife's income. The banker stated we don't even have enough income to...

You can do an exchange for a property of less value. There will be some tax consequence. So if you bought a home for 250 and had a gain of 100 and then purchased a home for 300, you would pay tax on just the 50 excess and carry the rest. This is a simplification, of course.

I like cutting out the middle men when it comes to things like home repairs, painting, etc. Last year when we tiled the house I saved over half by buying my own materials and hiring setters directly. Why should a contractor take the lions share of the sale when the setters do all the work? That...

Living in southwest Florida, this scenario doesn't surprise me at all. These newcomers are go- getters. The " build the barn before the house " mentality is alive and well. I met a 24 year old immigrant last month whose framing and drywall business did 20 million last year. They have no fear...

Carrots and sticks are used to make people do things that aren't likely in their best interest.

+1 This is just common sense but I appreciate the way you have expressed it mathematically. Very helpful.

Janet Yellen's actions are dismantling our economy. Makes me wish I didn't vote for her. :)

The lack of stability in the dollar and deficit spending benefits some at the expense of others. It rewards those early in the cycle to the detriment of those that come later. The addition of leverage exacerbates the problem. It creates inequality and bubbles.

The responsible thing would be for the Fed to continue to raise rates and let all of the malinvestment liquidate. I am holding tight with my equities. If the S and P gets down to 1250, I'll be a buyer.

+1 We have spent the last fifty years borrowing money to increase our standard of living. At some point we have to pay that back either by lowering our standard of living substantially or increasing GDP substantially.

Easy come, easy go. I am anxious to see how the local real estate market responds to this correction. Housing construction in the past year in Marco Island is booming like never before.

Hopefully everyone ran Firecalc prior to this downturn.

What will it take for PE ratios to normalize in the next ten years as he predicts. Rising interest rates, higher taxes, stunted growth, a bubble, a combination? It's a mystery to me.

I retired at 51. I figured my benefits will be a few thousand dollars a year less than if I retired at 67. Since I was self employed and a high earner, my contributions for those years would have been about 240 thousand. So, I would have to live until I was 187 to break even. I guess that is why...

The credit(debt) cycle been berry berry good to me. Let's face it, countries love debt which means they must promote growth by expanding credit which ultimately drives inflation and profits. It's like coasting downriver. Just don't screw it up by grabbing onto something not moving at least as...

I bought some in my DD's Roth. Other than that, just going to rebalance in October.

Where do we go from here, I wonder. Seems like we have boxed ourselves in pretty well.

I believe that the Bankruptcy Reform Act of 2005 changed that but I am no expert. " For starters, the FDIC does not have the sole right to prevent BOA or any other Too Big To Fail Bank from using the Bankruptcy Code to prefer payment to derivatives' counter-parties before making FDIC insured...

Essentially, there hasn't been any change in the way banks do business. There were provisions passed to supposedly let taxpayers off the hook in case of a collapse but much of those were reversed in the Cromnibus bill. It is true that in a failure your deposits can be paid out to creditors. The...