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Viewing profile - googoo

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googoo
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Joined: Sat Jun 30, 2007 10:35 am
Last visited: Tue Aug 14, 2012 11:10 am
Total posts: 1443
[1.64% of all posts / 0.46 posts per day]
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Most active forum: Personal Finance
[ 1244 Posts / 86.21% of user’s posts ]
Most active topic: Let's protest these nughead credit card companies
[ 16 Posts / 1.11% of user’s posts ]

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googoo Posts

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 Forum: Personal Finance   Topic: Income too high for Roth, what next?

Posted: Sat Jan 22, 2011 10:34 am 

Replies: 21
Views: 4393


TSP is not tax deductible. You should check with your fed. govt agency HR dept about having to report outside work, as the fed govt doesn't want there to be any: liabilities, conflicts of interest, and distractions from you being able to slave for them. are you single? can't remember if i saw a &quo...

 Forum: Personal Finance   Topic: How to invest (or save) 100K?

Posted: Tue Jan 18, 2011 7:08 pm 

Replies: 26
Views: 7597


i don't think the OP is liking the advice, because she hasn't responded. :lol:

 Forum: Personal Finance   Topic: How to invest (or save) 100K?

Posted: Tue Jan 18, 2011 7:07 pm 

Replies: 26
Views: 7597


Now, the inheritance comes along. She can use that for a down payment + closing costs. Let's say she takes out a mortgage that costs here about the same as rent. On a cash flow basis she'd be even. She'd have that $100k as equity in the house so her balance sheet remains the same. Plus, she is buil...

 Forum: Personal Finance   Topic: How to invest (or save) 100K?

Posted: Tue Jan 18, 2011 6:58 pm 

Replies: 26
Views: 7597


It varies a lot by jurisdiction but generally an inheritance remains separate property. In other words, it is not divided in the event of a divorce as you suggest. In the minority of jurisdictions where an inheritance is shared property, anything received prior to the marriage would usually be sepa...

 Forum: Personal Finance   Topic: Pay off a car early?

 Post subject: Re: Pay off a car early?
Posted: Tue Jan 18, 2011 6:56 pm 

Replies: 23
Views: 3508


...lots of people bling-out crappy little Pontiac Sunfires with ridiculous spoilers, noisy exhausts, and juvenile stickers, to "impress people." To them, their car is a status symbol. To me, it's a ruined econocar. hey, i drive a pimped out Yugo...don't hate the player, hate the game. we ...

 Forum: Personal Finance   Topic: 401k Rollover and Tax Question

Posted: Mon Jan 17, 2011 6:32 pm 

Replies: 23
Views: 3901


food shortages and inflation is not a myth, and you can see some shining examples of its destabilization in recent news. i think you misconstrue the tax deferral. I am not talking about repeal of tax deferral, but the amount of tax you will ultimately pay in the future. ordinary income taxes and cap...

 Forum: Personal Finance   Topic: Pay off a car early?

 Post subject: Re: Pay off a car early?
Posted: Mon Jan 17, 2011 6:24 pm 

Replies: 23
Views: 3508


This is an interesting discussion though it has strayed pretty far from whether to pay off a car early! Defining wealth is hard. Googoo makes some good points about liquidity and not counting people who have everything tied up in a business. But why wouldn't you count them? It is because they can't...

 Forum: Personal Finance   Topic: How to invest (or save) 100K?

Posted: Mon Jan 17, 2011 6:13 pm 

Replies: 26
Views: 7597


We've had a housing crisis because people bought houses they couldn't afford based on anticipation of appreciation and reselling at a higher price. It's called the "greater fool theory." It has nothing to do with a young couple buying a house to raise a family in and hold onto for decades...

 Forum: Personal Finance   Topic: 401k Rollover and Tax Question

Posted: Mon Jan 17, 2011 3:55 pm 

Replies: 23
Views: 3901


Ok, I'm not really sure what your point is but here's my basic position because I think we generally agree: 1. Taxes will go up. Even without a huge national debt to pay off and ridiculous deficits every year, tax rates are nearly at historic lows. A rate of 50% (compared to ~35% max now) would sti...

 Forum: Personal Finance   Topic: 401k Rollover and Tax Question

Posted: Mon Jan 17, 2011 2:32 pm 

Replies: 23
Views: 3901


I considered converting an old IRA with about $75000 in it last year. While the numbers approximately worked out in favor of converting, the case was not compelling in my situation. I met most of the standard criteria you read about - paying the taxes from another source, expecting higher tax rates...

 Forum: Personal Finance   Topic: Need to get life insurance..Questions.

Posted: Mon Jan 17, 2011 2:27 pm 

Replies: 13
Views: 2255


I don't want to hijack someone else's question, but I'm also in the middle of researching life insurance, and almost 100% of the advice I've received has suggested getting guaranteed renewable 10-year term life insurance instead of a 20-year term policy. So now I'm confused again seeing more propon...

 Forum: Personal Finance   Topic: How to invest (or save) 100K?

Posted: Mon Jan 17, 2011 2:23 pm 

Replies: 26
Views: 7597


prenup: not necessarily, since they would be comingling the money in a joint asset(s). yes, i am saying the OP should ignore the inheritance when it comes to spending money or things they haven't budgeted for within the parameters they have previously established. Investing in her name only is fine...

 Forum: Personal Finance   Topic: Pay off a car early?

 Post subject: Re: Pay off a car early?
Posted: Mon Jan 17, 2011 2:15 pm 

Replies: 23
Views: 3508


Right. But the "majority of people in this country" aren't millionaires. I don't understand your point. You don't like the data? The reality is that most millionaires are self-employed or own their own business. You seem to be implying that this represents some sort of bias on the part of...

 Forum: Personal Finance   Topic: Pay off a car early?

 Post subject: Re: Pay off a car early?
Posted: Mon Jan 17, 2011 1:58 pm 

Replies: 23
Views: 3508


@kombat, i think you need to look at Stanley's website. i think the scientific basis is problematic, regardless of whether he or they are so called "experts". i think the telling skew of the population is the private business owner portion of the equation. this is problematic because busin...
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