Minimum wage protest in Orlando (Bell: credit report, place to live, bills)

[Bellamouse]

Originally Posted by bmw335xi

TBellamouse, if you hired someone and you are still below your previous high, fire them immediately. There are plenty of quality balanced funds out there and you don't need to pay anyone a single penny.

It wasn't me, it was my mother in law. I knew nothing about her finances (and still don't know much, and I certainly cannot interject myself there), I only found out about it after the fact. She worked for Marshall Field's/Target and I think all her money was in that one stock. It took a humongous hit and she has never recovered since.

I only used it as an example that not everyone is savvy enough to invest their assets wisely (I would argue few people know how to do this well), so for me it proves the point that having equity in your house is not foolish as other posters here have suggested.

[bmw335xi]

Originally Posted by Bellamouse

It wasn't me, it was my mother in law. I knew nothing about her finances (and still don't know much, and I certainly cannot interject myself there), I only found out about it after the fact. She worked for Marshall Field's/Target and I think all her money was in that one stock. It took a humongous hit and she has never recovered since.

I only used it as an example that not everyone is savvy enough to invest their assets wisely (I would argue few people know how to do this well), so for me it proves the point that having equity in your house is not foolish as other posters here have suggested.

Oh ok, I read it wrong, I thought you were talking about yourself. However, still things aren't adding up because Target (TGT) is up over 20% from the very peak before the crash, so even if she bought it at the highest point, she would still be up over 20% + today.

The key to a good retirement plan in my opinion is diversification, which means buying a home(s), buying equities, and buying bonds. There are a lot of balanced mutual funds that are a mixture of stocks and bonds, Vanguard Wellington is a perfect example (roughly 65% stocks, 35% bonds). The younger you are the more aggressive you can be, the older you are the more conservative you should be.

[annerk]

Originally Posted by bmw335xi

And that kind of thinking is why you can't even afford an apartment in Lake Mary... some people see it and think there is so much money, I want to do whatever I can to learn and get some of it or you can think, it's too much work better to just write it off as only belonging to fat cats. Open your mind to other income streams, cultures, ideas and you will do much better in life.

<3 u lol

LOL So true!

I sensed the crash and moved almost everything to cash shortly before it happened, moving back out as the market stabilized and then grew. My husband went heavier into bonds and blue chips and he never really lost much, mostly his accounts remained stagnant during the down years and have come back to pre-crash values plus about 35%. The market is and has always been cyclical. if it seems to good to be true, it is.

Our FDIC insured CD's continued to grow during the crash.

[annerk]

Originally Posted by Joey Falcon

It can happen to anyone. My girlfriend was upside down on her car note, during the bust. Those were scary times.

Cars depreciate, and if you go with 100% financing you are upside down the day you leave the dealership. Three years later you own the car.

[annerk]

Originally Posted by Bellamouse

It wasn't me, it was my mother in law. I knew nothing about her finances (and still don't know much, and I certainly cannot interject myself there), I only found out about it after the fact. She worked for Marshall Field's/Target and I think all her money was in that one stock. It took a humongous hit and she has never recovered since.

I only used it as an example that not everyone is savvy enough to invest their assets wisely (I would argue few people know how to do this well), so for me it proves the point that having equity in your house is not foolish as other posters here have suggested.

I have my accounts managed day-to-day and interject now and then if I see something I'm not comfortable with. It costs me around .5% of the value of my portfolio and is well worth the cost to not have to monkey with it and be able to get the "executive summary" as opposed to researching each stock and fund.

[annerk]

Originally Posted by bmw335xi

Oh ok, I read it wrong, I thought you were talking about yourself. However, still things aren't adding up because Target (TGT) is up over 20% from the very peak before the crash, so even if she bought it at the highest point, she would still be up over 20% + today.

The key to a good retirement plan in my opinion is diversification, which means buying a home(s), buying equities, and buying bonds. There are a lot of balanced mutual funds that are a mixture of stocks and bonds, Vanguard Wellington is a perfect example (roughly 65% stocks, 35% bonds). The younger you are the more aggressive you can be, the older you are the more conservative you should be.

Well put. I would also add in that another investment avenue people should consider adding into your mix is laddered FDIC insured CD's. They don't earn you as much, but are a good "won't have to eat cat food" strategy for bare bones retirement income.

[Joey Falcon]

Originally Posted by annerk

Cars depreciate, and if you go with 100% financing you are upside down the day you leave the dealership. Three years later you own the car.

That's what happened to her.

[Bellamouse]

Originally Posted by annerk

I have my accounts managed day-to-day and interject now and then if I see something I'm not comfortable with. It costs me around .5% of the value of my portfolio and is well worth the cost to not have to monkey with it and be able to get the "executive summary" as opposed to researching each stock and fund.

I think people are having trouble understanding me, or they simply don't read.

I mean that I cannot interject into my MOTHER In LAW'S private finances to tell her what I think she should do. It is not my business to ask her about her finances, ask her how much she has, or tell her how she should manage them. If she asks me, then that's a different story, but she does not ask me.

[Joey Falcon]

Originally Posted by Bellamouse

I think people are having trouble understanding me, or they simply don't read.

I mean that I cannot interject into my MOTHER In LAW'S private finances to tell her what I think she should do. It is not my business to ask her about her finances, ask her how much she has, or tell her how she should manage them. If she asks me, then that's a different story, but she does not ask me.

oh, i get it

[annerk]

Originally Posted by Joey Falcon

That's what happened to her.

I don't see what the problem is. Unless you have a large downpayment, EVERYONE is upside down on a car for the first six months or so.