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Viewing profile - Dascoon

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Dascoon
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Joined: Mon Aug 04, 2008 7:29 am
Last visited: -
Total posts: 81
[0.09% of all posts / 0.03 posts per day]
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Most active forum: Personal Finance
[ 80 Posts / 98.77% of user’s posts ]
Most active topic: Which presidential candidate will be better for The Economy?
[ 6 Posts / 7.41% of user’s posts ]

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Dascoon Posts

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 Forum: Personal Finance   Topic: Bankruptcy

 Post subject: Re: Bankruptcy
Posted: Wed May 19, 2010 7:06 am 

Replies: 48
Views: 8648


DoingHomework, I'm absolutely certain you don't know what your are talking about. "I'm fairly certain that you cannot discharge credit card debt in bankruptcy anymore." I assume you are refering to the bankruptcy bill of 2006. This only limits the ability of high income/ asset individuals ...

 Forum: Personal Finance   Topic: Roths- will they ever be taxed?

Posted: Thu Apr 29, 2010 9:37 am 

Replies: 23
Views: 3215


Rich retiree's for the most part don't have Roths. The ROTH was introduced in 1998 (?). Thus anyone whom retired before 98 will likely have nothing in them, people whom have retired in the last 10 years, will likely have very little in them since their incomes at this time would have generally made ...

 Forum: Personal Finance   Topic: Real estate investment opportunity -- am I crazy??

Posted: Thu Apr 29, 2010 9:26 am 

Replies: 8
Views: 1610


I have no idea what debtfree is talking about, how would it take over six years to break even? I assume you mean over six years for the 2450 monthly rent (29400 yearly) rent to equal the purchase price of the home. That is an extremely poor way of valueing any investment. I would recommend that you ...

 Forum: Personal Finance   Topic: Roths- will they ever be taxed?

Posted: Thu Apr 29, 2010 9:12 am 

Replies: 23
Views: 3215


I predict that Roth IRAs will effectively be taxed within 10 years, for two main reasons, the more likely within this time period second. First, it isn't political suicide. It may be if you do it on everyone, but they won't they will start by doing it on the rich, or 'those that don't need it'. Just...

 Forum: Personal Finance   Topic: Credit cards moving to variable rates.

Posted: Thu Oct 29, 2009 12:03 pm 

Replies: 20
Views: 3208


1. Not all credit card companies have bank deposit bases, see Amex and Discover 2. Even 3-5 year maturity commerical paper is significantly over the 2% yield. You do realize there is a difference between credit card companies and banks. The three most pure credit card companies, Amex, Discover, and ...

 Forum: Personal Finance   Topic: Roth IRA hints and tips

Posted: Thu Oct 29, 2009 5:17 am 

Replies: 31
Views: 42455


Tip 1: Utilize the tax free status. Allocate your assests between different investment accounts based on their tax efficiency. Got alot of short term gain producing assests, stick them in the Roth while your put your more tax efficicent investments in a regular IRA or brokerage account. Tip 1.1: Use...

 Forum: Personal Finance   Topic: Help with refinancing numbers

Posted: Thu Oct 29, 2009 5:00 am 

Replies: 6
Views: 3277


I have the same question as kmull.

I would probably not refi if the payback was 2 years and I was planning a move in 3. Also, having a large cash position to buy the new home is better than having equity in the old home that will be applied. Underwriters prefer it, and it gives you more options.

 Forum: Personal Finance   Topic: Credit cards moving to variable rates.

Posted: Thu Oct 29, 2009 4:56 am 

Replies: 20
Views: 3208


Perhaps the rate on savings accounts or time deposits would be more appropriate, That is a bit higher, perhaps more like the 2.5% you are getting so it bumps up my fair rate a bit but doesn't change the principle and doesn't get the rate to 30%. A Rated 20 year maturity corperate debt stands at arou...

 Forum: Personal Finance   Topic: How to weather a potential "lost decade"

Posted: Thu Oct 29, 2009 4:20 am 

Replies: 21
Views: 3717


Well, just trying to explain what he meant by leaving out accumulated capital from that particular growth model. If I were to point out where your model isn't great, I would point that you are looking only at the revenue side of the equation. They also have the possibility of reducing costs. The bui...

 Forum: Personal Finance   Topic: How to weather a potential "lost decade"

Posted: Wed Oct 28, 2009 6:14 pm 

Replies: 21
Views: 3717


I am going to try and explain what Jericho wrote using an example. You have a money machine, you pull a level, you get money. It can be used by any number of people, because it has an infinite amount of levers. In 2009, the money machine gives you 10 dollars per pull of the lever and you can only pu...

 Forum: Personal Finance   Topic: Buying a home with cash

Posted: Wed Oct 21, 2009 1:26 pm 

Replies: 26
Views: 3731


I generally agree with Doinghomework. If I believe I can earn an after-tax return greater than after-tax cost of borrowing. I will do it. If it is a risk free rate of return, then will do it with a very low margin. If it is a riskier proposition, than I will require a higher difference between the t...

 Forum: Personal Finance   Topic: Credit cards moving to variable rates.

Posted: Wed Oct 21, 2009 12:38 pm 

Replies: 20
Views: 3208


There are several parties in the value chain. I agree that Visa likes me. They make a % on every purchase I make. So does the bank providing the merchant's account. But how does my issuing bank make money from me if I never pay interest? Aside from enhancing the risk profile of its portfolio how am...

 Forum: Personal Finance   Topic: Credit card vs. charge card (AMEX)?

Posted: Wed Oct 21, 2009 7:46 am 

Replies: 11
Views: 69015


If you don't mind it not being universally accepted a Amex Gold is fine. I believe the Amex Charge-Cards come with annual fees. They are generally waived for the first year. If the fee is a problem do NOT get an Amex Blue. It has a service level comparable to a Visa/MC Platinum, maybe slightly bette...

 Forum: Personal Finance   Topic: Credit cards moving to variable rates.

Posted: Wed Oct 21, 2009 7:35 am 

Replies: 20
Views: 3208


Maybe you missed the second sentence. Banks refer to this behavior as transactors, and on a per account basis are some of the most profitable customers. Your point was buisness don't like them, my point is they do. You are right card companies could offer a fixed rate product through a variety of me...
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