A whole life policy is a HORRIBLE investment, it's overpriced and doesn't pay what people think it will. For about a tenth of the price you can get term life.
I just tried the method 2 on a couple of small door dings and it did not work. My guess is that these methods only work on larger dents, like say the size of your fist.
Door dings probably could be fixed by removing the door panel and using a small hard object, pressing it out from behind.
If you will be going from 2 incomes to 1 when you have the baby then keep on saving. Newborns are cheap -- they need anything but diapers in the beginning. And a car seat. They don't care about all the fancy gear -- that's something 'everyone else' says you should have.
I do think the idea of focusing and keeping your eyes on the prize is key. Think of it this way-- Do you really need to go out to eat? Wouldn't you rather travel? When you set up small senarios and stay focused you can accomplish a lot.
I do think you should take a trip before you're saddled with the house and kids. Depending on your 'huge amount' -- maybe a $3k trip. Because you'll never do that again (until it's time to take the rugrat to Disney).
I agree with others -- play the market but only get in for $1-2k. Something that if it disappeared tomorrow (which it might) you won't be devastated over.
My parents had a policy set up for me and in my 30s I cashed it out to do something stupid -- buy a computer. If I'd have left it alone now -- 20 years later it'd be work 10 times that amount.
although I would never open a new Whole life (see Suze orman's thoughts on this) I do wish I'd have kept what my parents gave me.
Your mother needs to talk to a lawyer. Because I am not one, I can't offer any legal advice as to what she can do, but what her employers are doing is creating a hostile work environment. Have her consult with a lawyer in her area to see what kind of rights she has under these circumstances.
In any case, she should document EVERYTHING that happens to her. Keep a daily written journal of her situation, so that she can refer back to it later if she should need to take anyone to court.
I too feel your pain and believe the answer lies in taking the least risk of risk. Thus you merit without overextending. Steady growth wins the race time and time again.
I haven't read all of this yet, but my wife just got handed her papers from her parents on her whole life insurance they had been keeping up since birth. I was hesitant against continuing such a policy and wasn't sure what to do. This will help immensely.
To "The Economist" - SO MOTE IT BE! (a.k.a. AMEN!!)
I am a wealthy woman and I used to keep hundreds of thousands of dollars in a well-hidden safe in my home.
Now? All that has been converted to precious metals (gold coins specifically).
When the market collapses and the government seizes all the banks and their contents (even safety deposit boxes which they legally can due to Bush's wonderful Patriot Act) all we will have left will be gold, etc.
Each year from the time the policy is born, the insurance company pays out dividends. And like any dividend, these dividends represent a share of the insurance company’s profits. Those dividends are squared away into the cash component of the policy, and allowed to compound in growth by earning more dividends and interest income yet. The larger your cash value, the larger the annual dividends will be.- Thank you
Excellent overview! Many people don't fully appreciate life insurance's ability to act as a tax free loan "piggybank" which works best when you overfund the policy.
My wife and I were talking about this yesterday and she told me she was a little concerned about "Missing the bottom."
I'm in the same boat you are, but for more practical reasons. I'd never buy a place unless we loved it, could afford it, and planned to live in it for X amount of years. That the market is "down" or "coming back up" wouldn't factor into my decision. Price certainly would, but that always will.
We have to go by the things we can control, and the housing recovery (or not) isn't one of them.
There are the sensible answers I was expecting! I was half kidding when I wrote this because obviously I would never throw 100% (or even 30%) of this money into the stock market. That would be irresponsible.
As for The Intelligent Investor: it's one of my favorite investing books and I'm actually a huge Buffett fan. I've read Buffet and The Snowball and I'm a bit fixated by him.
Just so you all know, the money is staying in ING for now and will probably be used for a down payment down the line at some point. Not all of it, that's for sure, but a fair chunk.
Incentive plans always go bad because they aren't set up properly. It's like giving your kids some money for bringing home good grades. They might cheat to get those grades, and that means you've picked the wrong thing to incentivize.
But if these systems were set up properly—then it might work. It's tough to incentivize something that employees/your kids might game you on, but it's possible.
Home ownership in the America is very expensive.Many people want to purchase their own home but when they the mortgage payment of monthly and know about all taxes then they take decision to take the house on rent.Because all the interior and other parts like roof tiles are more expensive.In above article this is also the main reason. http://www.newrooflongisland.com
Hi, I think I might have experienced another fraud. I will not give out all the details now, but the person who is responsible in eligibly named Tommy Nebran. His email is tommy12tommy@gmail.com . I checked and its not on Nekkid Truth yet, so beware. I think this may be the new name for the old Ray Clampp because he has the same instructions for buying the car, but this time, he has added a new twist. He is giving a story about his wife being very sick. Its also similar to Clampp because he says the car is in Maine. Its very funny how the pictures he has of the car is that it is in a driveway in a nice neighborhood, but with NO snow. Its winter and in Maine. Where is the snow??? He also hasn't given me his ebay username, so he is still staying partly in the dark. Here is a copy of the email to me from below:
_________
I am away with my wife who is sick, I'll be back at the end of April but we can close the transaction safe for both of us through eBay. I am ready to reserve the car for you and start the transaction but I want to be sure that you know the steps and you agree with the process. Here is how the process works:
- you give me your full name and shipping address ( I have your details already ),
- I start a transaction on eBay company,
- they send you the payment instructions,
- you send the money into eBay trust account,
- they confirm me that they received the funds,
- I ship the car,
- you receive the car,
- they send me the money.
They will hold the money until the car is delivered to you, with properly executed title. You have 5 days for the inspection period. If the car is not like described you will have to ship it back in 30 business days on my expense, but I am sure that you will love it.
If you agree please confirm to me so I can start the transaction.
Thank you,
Tommy
_________
I want to keep this topic fresh, so we can keep spreading the word about these kinds of people. Thanks to everyone who is helping with this cause.
I'm going to print this out and put it with our insurance papers for the future. I know many people now suggest term rather than whole policies but we got the whole as a way to help us save (as well as protection). Our insurance is through the Knights of Columbus, which has some great benefits since it is a non-profit. We got small policies on the children which would cover funeral costs if something were to happen (we were friends with a family who became not only emotionally devestated by financiall devasted after the loss of a child) however, as I understand it they can increase the ammount of the policy when they are older without having to go through the ratings system -- which could end up being a huge benefit to them.
Besides without a credit or debit card you cannot buy online.
Thanks,
Nate
A whole life policy is a HORRIBLE investment, it's overpriced and doesn't pay what people think it will. For about a tenth of the price you can get term life.
Dave Ramsey teaches a lot about the difference. Here's what he has to say:
http://www.daveramsey.com/the_truth_about/life_insurance_3481.html.cfm
Our local library offers services and meeting rooms for bookclubbers. Your local library may too.
I just tried the method 2 on a couple of small door dings and it did not work. My guess is that these methods only work on larger dents, like say the size of your fist.
Door dings probably could be fixed by removing the door panel and using a small hard object, pressing it out from behind.
If you will be going from 2 incomes to 1 when you have the baby then keep on saving. Newborns are cheap -- they need anything but diapers in the beginning. And a car seat. They don't care about all the fancy gear -- that's something 'everyone else' says you should have.
I do think the idea of focusing and keeping your eyes on the prize is key. Think of it this way-- Do you really need to go out to eat? Wouldn't you rather travel? When you set up small senarios and stay focused you can accomplish a lot.
I do think you should take a trip before you're saddled with the house and kids. Depending on your 'huge amount' -- maybe a $3k trip. Because you'll never do that again (until it's time to take the rugrat to Disney).
I agree with others -- play the market but only get in for $1-2k. Something that if it disappeared tomorrow (which it might) you won't be devastated over.
Keep saving but don't forget to live!
My parents had a policy set up for me and in my 30s I cashed it out to do something stupid -- buy a computer. If I'd have left it alone now -- 20 years later it'd be work 10 times that amount.
although I would never open a new Whole life (see Suze orman's thoughts on this) I do wish I'd have kept what my parents gave me.
Stupid stupid stupid....
Probably not the same person - scammers are a dime a dozen. :) How did you find a listing for a car through eBay with no eBay user name?
Your mother needs to talk to a lawyer. Because I am not one, I can't offer any legal advice as to what she can do, but what her employers are doing is creating a hostile work environment. Have her consult with a lawyer in her area to see what kind of rights she has under these circumstances.
In any case, she should document EVERYTHING that happens to her. Keep a daily written journal of her situation, so that she can refer back to it later if she should need to take anyone to court.
I too feel your pain and believe the answer lies in taking the least risk of risk. Thus you merit without overextending. Steady growth wins the race time and time again.
I haven't read all of this yet, but my wife just got handed her papers from her parents on her whole life insurance they had been keeping up since birth. I was hesitant against continuing such a policy and wasn't sure what to do. This will help immensely.
Thank you so much for posting this! I have a whole life policy and it has never been explained to me so clearly.
To "The Economist" - SO MOTE IT BE! (a.k.a. AMEN!!)
I am a wealthy woman and I used to keep hundreds of thousands of dollars in a well-hidden safe in my home.
Now? All that has been converted to precious metals (gold coins specifically).
When the market collapses and the government seizes all the banks and their contents (even safety deposit boxes which they legally can due to Bush's wonderful Patriot Act) all we will have left will be gold, etc.
Paper is meaningless...
Peace
I would love to have this book and learn about networking
Give your money away to those who have nothing. You will feel good about yourself.
Each year from the time the policy is born, the insurance company pays out dividends. And like any dividend, these dividends represent a share of the insurance company’s profits. Those dividends are squared away into the cash component of the policy, and allowed to compound in growth by earning more dividends and interest income yet. The larger your cash value, the larger the annual dividends will be.- Thank you
Excellent overview! Many people don't fully appreciate life insurance's ability to act as a tax free loan "piggybank" which works best when you overfund the policy.
Philip:
My wife and I were talking about this yesterday and she told me she was a little concerned about "Missing the bottom."
I'm in the same boat you are, but for more practical reasons. I'd never buy a place unless we loved it, could afford it, and planned to live in it for X amount of years. That the market is "down" or "coming back up" wouldn't factor into my decision. Price certainly would, but that always will.
We have to go by the things we can control, and the housing recovery (or not) isn't one of them.
The Writer's Coin | Follow me on Twitter
There are the sensible answers I was expecting! I was half kidding when I wrote this because obviously I would never throw 100% (or even 30%) of this money into the stock market. That would be irresponsible.
As for The Intelligent Investor: it's one of my favorite investing books and I'm actually a huge Buffett fan. I've read Buffet and The Snowball and I'm a bit fixated by him.
Just so you all know, the money is staying in ING for now and will probably be used for a down payment down the line at some point. Not all of it, that's for sure, but a fair chunk.
The Writer's Coin | Follow me on Twitter
@Philip
Incentive plans always go bad because they aren't set up properly. It's like giving your kids some money for bringing home good grades. They might cheat to get those grades, and that means you've picked the wrong thing to incentivize.
But if these systems were set up properly—then it might work. It's tough to incentivize something that employees/your kids might game you on, but it's possible.
The Writer's Coin | Follow me on Twitter
Home ownership in the America is very expensive.Many people want to purchase their own home but when they the mortgage payment of monthly and know about all taxes then they take decision to take the house on rent.Because all the interior and other parts like roof tiles are more expensive.In above article this is also the main reason.
http://www.newrooflongisland.com
Roof Repairs
hi, how do i make my L.G. `DR 175` dvd recorder region free ?
thanks
Cha.
The answer is the same as good investing:
diversify.
yeah, it's just chinese hackers that sell those $200 for really low.
And the reason the gift cards were bought for more than they cost is because of "Live Cash Back"
Hi, I think I might have experienced another fraud. I will not give out all the details now, but the person who is responsible in eligibly named Tommy Nebran. His email is tommy12tommy@gmail.com . I checked and its not on Nekkid Truth yet, so beware. I think this may be the new name for the old Ray Clampp because he has the same instructions for buying the car, but this time, he has added a new twist. He is giving a story about his wife being very sick. Its also similar to Clampp because he says the car is in Maine. Its very funny how the pictures he has of the car is that it is in a driveway in a nice neighborhood, but with NO snow. Its winter and in Maine. Where is the snow??? He also hasn't given me his ebay username, so he is still staying partly in the dark. Here is a copy of the email to me from below:
_________
I am away with my wife who is sick, I'll be back at the end of April but we can close the transaction safe for both of us through eBay. I am ready to reserve the car for you and start the transaction but I want to be sure that you know the steps and you agree with the process. Here is how the process works:
- you give me your full name and shipping address ( I have your details already ),
- I start a transaction on eBay company,
- they send you the payment instructions,
- you send the money into eBay trust account,
- they confirm me that they received the funds,
- I ship the car,
- you receive the car,
- they send me the money.
They will hold the money until the car is delivered to you, with properly executed title. You have 5 days for the inspection period. If the car is not like described you will have to ship it back in 30 business days on my expense, but I am sure that you will love it.
If you agree please confirm to me so I can start the transaction.
Thank you,
Tommy
_________
I want to keep this topic fresh, so we can keep spreading the word about these kinds of people. Thanks to everyone who is helping with this cause.
I'm going to print this out and put it with our insurance papers for the future. I know many people now suggest term rather than whole policies but we got the whole as a way to help us save (as well as protection). Our insurance is through the Knights of Columbus, which has some great benefits since it is a non-profit. We got small policies on the children which would cover funeral costs if something were to happen (we were friends with a family who became not only emotionally devestated by financiall devasted after the loss of a child) however, as I understand it they can increase the ammount of the policy when they are older without having to go through the ratings system -- which could end up being a huge benefit to them.