I think technically that the recession is ending. Once GDP goes positive thats an official end to the recession. It will take a while for jobs to recover and for peoples confidence to rebound but I think we're starting to turn around.
I'm pretty much taking a fatalistic approach to the swine flu - I will probably come down with it, regardless of how often I wash my hands. I'm just trying to prep myself for what I consider inevitable.
I worked for a company that would increase the responsibility for my department in an effort to save on hiring costs, and plied us with the carrot of one of two available garage parking spots if we performed to expectation. Kinda nice, right?
Wrong. These were spots that were part of our original contracts that had been forced out of our benefits to use as an incentive to recruit new producers to the company.
Since the market tanked, we've only attracted TWO new producers after losing twenty. The parking spots we used to enjoy now sits empty while seven of us compete monthly for one spot's use. (By the way, the company might take that single spot away from us, too - if we ever recruit those producers....)
That's largely the reason why I haven't subscribed to the service. There are plenty of resources out there for free that any consumer can find what they are looking for.
Thanks for the great tips learned from your family. Our elders truly have a lot of wisdom to depart to us. As another way of talking about paranoia: I like the advice: trust but verify. I would rather not ascribe greedy motives to all, but I want to be realistic, too!
A couple of things. It is almost impossible to know your benefits since the benefit books are purposely vague and there are 101 loopholes. This is how many people end up holding the bag for huge medical bills even though they were insured.
Many states do not have a recourse system like Mass. does. But at some point putting all communication in writing rather than over the phone is a really good idea. Insurance companies and obstinate providers hate when people do things in writing. They don't want that paper trail. They want to be able to tell you anything without any recourse by talking to you on the phone. Sometimes simple issues can be resolved with one phone call. When your not getting it resolved quickly start doing everything in writing. If that first letter doesn't get results start sending subsequent letters certified and make sure you keep a copy of those letters and the proof it was received. You absolutely will need it if you ever end up in court over it.
Companies are given the benefit of the doubt in court regarding statements made over the phone or claims that they sent a letter out. The court assumes they are not lying. I can tell you that companies have zero problem making things up in court. If you have a decent paper trail you stand a better chance of overcoming whatever said company is trying to pull.
Insurers or providers have also been known to make claims that people were mis-behaving in the hopes of gaining some sympathy or discredit you in court. I had a provider lawyer try to claim I made a scene in their office when it was clear he was losing his case. I didn't make any scene and he lost the case. But the false accusation really annoyed me. They lose the ability to make things up about you, false statements or misbehavior if it is all in writing.
I to am a victim of the "NetSpend" this company sent a Visa Debit card with my name on it and sent it to my ex husbands wife's house. I never lived in this house her name is on mortgage and she kept her maiden name so not like there could be a connection. I am not sure how they sent mail with my name to her address. I am really upset and can not believe this stupid company randomly sending out Visa Debit cards to people who have never even heard pf there company!!!!!!
Can someone explain if I am correct about EUIL insurance. The only great way to fund it is to max fund it in five years. Technically, it could be funded in four years and one day (Jan.1 of the 5th year). You fund equal amounts 5 times. If you over fund it, it becomes a modified endowment contract and is then subject to being taxed. If you max fund it properly in 5 installments, then the contributions gain interest tax free. There is a guranteed minimum interest rate earned, and a maximun interest rate earned, based on what the "market" does. Most EUIL policies are indexed to the standard & poor 500. This index is not actually "tied in" to the S&P 500, but indexed according to the companies own investment strategies based on their success or failure. Either way, if the market is up, you will get a max guranteed rate of interest, usually 12% to 15% max percent on most policies. If the market is down, most policies will gurantee a low of 1% or 0%. You are guranteed to never lose your principal or the interest gains you have made. There are heavy fees in the first 5 years that pay for the policy such as agent commissions, cost of insurance, etc. If you take a loan on your money in the first 10 years, there is a loan fee, but the offset is that the contributions are also tax free & accumulating tax free. The policy will have a death bennefit based on the amount funded. The goal is to not touch the money until needed at retirement, which then can be withdrawn tax free for as long as there is money in the fund. It also transfers to your heirs tax free (no capital gains tax), although there would still be an inheritence tax. This fund is approved by the IRS rule 7702. It is an investment vehicle tied to a life insurance product. Summary: Max fund for 5-years, contributions are tax free, gains interest tax free, withdraw at retirement tax free, transfers to heirs tax free(no capital gains), EUIL's have averaged approx. 8.9% over the last 20 years. So, even with heavy up-front fee's, how can a totally tax free investment that gains an average rate of 8.9% with a gurantee of no principal loss and a guranteed interest spread be a bad thing when a volatile market can occur at any time? You obviously have to qualify for the insurance, but if you are young enough, healthy enough, and have a decent sum to fund the account, you can have a nice tax free retirement fund till age 100 or beyond. Any comments on this are very welcomed. Thanks!
I think that if you take a look around at all the poverty, homelessness, unemployment, forclosures, food pantries that can't keep up with the demand, etc, etc, it seems to me that we are no where near ending this recession.
I've been wanting to get an iphone for the longest time and reading this list makes me want it even more! Never thought that I could use skype on my iphone, what a great way to save those phone bills!
While I like the idea of this sort of bulk buying, and have a small freezer myself, I have yet to come round to doing this kind of thing, as it seems it would wipe out my meat budget on one type (beef) of meat for a long time.
Do you eat chicken, pork or fish?
Are you working other meats into your $80 a week equation, and if so, how?
www.gpm.com
I think technically that the recession is ending. Once GDP goes positive thats an official end to the recession. It will take a while for jobs to recover and for peoples confidence to rebound but I think we're starting to turn around.
I'm pretty much taking a fatalistic approach to the swine flu - I will probably come down with it, regardless of how often I wash my hands. I'm just trying to prep myself for what I consider inevitable.
I worked for a company that would increase the responsibility for my department in an effort to save on hiring costs, and plied us with the carrot of one of two available garage parking spots if we performed to expectation. Kinda nice, right?
Wrong. These were spots that were part of our original contracts that had been forced out of our benefits to use as an incentive to recruit new producers to the company.
Since the market tanked, we've only attracted TWO new producers after losing twenty. The parking spots we used to enjoy now sits empty while seven of us compete monthly for one spot's use. (By the way, the company might take that single spot away from us, too - if we ever recruit those producers....)
...and wash your hands a lot...
That's largely the reason why I haven't subscribed to the service. There are plenty of resources out there for free that any consumer can find what they are looking for.
Thanks for the informative post! Insurance is a definite must for everyone!
Thanks for the great tips learned from your family. Our elders truly have a lot of wisdom to depart to us. As another way of talking about paranoia: I like the advice: trust but verify. I would rather not ascribe greedy motives to all, but I want to be realistic, too!
A couple of things. It is almost impossible to know your benefits since the benefit books are purposely vague and there are 101 loopholes. This is how many people end up holding the bag for huge medical bills even though they were insured.
Many states do not have a recourse system like Mass. does. But at some point putting all communication in writing rather than over the phone is a really good idea. Insurance companies and obstinate providers hate when people do things in writing. They don't want that paper trail. They want to be able to tell you anything without any recourse by talking to you on the phone. Sometimes simple issues can be resolved with one phone call. When your not getting it resolved quickly start doing everything in writing. If that first letter doesn't get results start sending subsequent letters certified and make sure you keep a copy of those letters and the proof it was received. You absolutely will need it if you ever end up in court over it.
Companies are given the benefit of the doubt in court regarding statements made over the phone or claims that they sent a letter out. The court assumes they are not lying. I can tell you that companies have zero problem making things up in court. If you have a decent paper trail you stand a better chance of overcoming whatever said company is trying to pull.
Insurers or providers have also been known to make claims that people were mis-behaving in the hopes of gaining some sympathy or discredit you in court. I had a provider lawyer try to claim I made a scene in their office when it was clear he was losing his case. I didn't make any scene and he lost the case. But the false accusation really annoyed me. They lose the ability to make things up about you, false statements or misbehavior if it is all in writing.
http://www.retailmenot.com/ is a great website for online store coupons!
Great advice. Marketing for yourself is essential when it comes to doing freelance.
Great advice. I totally agree that it is easy to overspend when you have your credit cards with you.
I use it to shrink the pores on my nose and it works amazing!
You forgot to include vending machines!
Sound like an awesome read. Will pick that book up on my next trip to the bookstore!
I to am a victim of the "NetSpend" this company sent a Visa Debit card with my name on it and sent it to my ex husbands wife's house. I never lived in this house her name is on mortgage and she kept her maiden name so not like there could be a connection. I am not sure how they sent mail with my name to her address. I am really upset and can not believe this stupid company randomly sending out Visa Debit cards to people who have never even heard pf there company!!!!!!
Good stuff. Will share with my wife :)
Keigu,
Financial Samurai
"Slicing Through Money's Mysteries"
Sorry, my above title was spelled wrong. It's EIUL
I enjoy cooking and creating my own concoction!
Can someone explain if I am correct about EUIL insurance. The only great way to fund it is to max fund it in five years. Technically, it could be funded in four years and one day (Jan.1 of the 5th year). You fund equal amounts 5 times. If you over fund it, it becomes a modified endowment contract and is then subject to being taxed. If you max fund it properly in 5 installments, then the contributions gain interest tax free. There is a guranteed minimum interest rate earned, and a maximun interest rate earned, based on what the "market" does. Most EUIL policies are indexed to the standard & poor 500. This index is not actually "tied in" to the S&P 500, but indexed according to the companies own investment strategies based on their success or failure. Either way, if the market is up, you will get a max guranteed rate of interest, usually 12% to 15% max percent on most policies. If the market is down, most policies will gurantee a low of 1% or 0%. You are guranteed to never lose your principal or the interest gains you have made. There are heavy fees in the first 5 years that pay for the policy such as agent commissions, cost of insurance, etc. If you take a loan on your money in the first 10 years, there is a loan fee, but the offset is that the contributions are also tax free & accumulating tax free. The policy will have a death bennefit based on the amount funded. The goal is to not touch the money until needed at retirement, which then can be withdrawn tax free for as long as there is money in the fund. It also transfers to your heirs tax free (no capital gains tax), although there would still be an inheritence tax. This fund is approved by the IRS rule 7702. It is an investment vehicle tied to a life insurance product. Summary: Max fund for 5-years, contributions are tax free, gains interest tax free, withdraw at retirement tax free, transfers to heirs tax free(no capital gains), EUIL's have averaged approx. 8.9% over the last 20 years. So, even with heavy up-front fee's, how can a totally tax free investment that gains an average rate of 8.9% with a gurantee of no principal loss and a guranteed interest spread be a bad thing when a volatile market can occur at any time? You obviously have to qualify for the insurance, but if you are young enough, healthy enough, and have a decent sum to fund the account, you can have a nice tax free retirement fund till age 100 or beyond. Any comments on this are very welcomed. Thanks!
Great tips! Thanks for the suggestions.
I think that if you take a look around at all the poverty, homelessness, unemployment, forclosures, food pantries that can't keep up with the demand, etc, etc, it seems to me that we are no where near ending this recession.
I always knew what my dream job is but I've never thought about defining the final product of my dream job. That's a good point.
I've been wanting to get an iphone for the longest time and reading this list makes me want it even more! Never thought that I could use skype on my iphone, what a great way to save those phone bills!
While I like the idea of this sort of bulk buying, and have a small freezer myself, I have yet to come round to doing this kind of thing, as it seems it would wipe out my meat budget on one type (beef) of meat for a long time.
Do you eat chicken, pork or fish?
Are you working other meats into your $80 a week equation, and if so, how?