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A place for Get Rich Slowly readers to ask questions
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It is currently Thu Aug 25, 2016 2:52 am



Viewing profile - RayinPenn

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RayinPenn
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Joined: Sat Dec 10, 2011 7:25 am
Last visited: Sun Aug 14, 2016 5:33 pm
Total posts: 969
[1.09% of all posts / 0.56 posts per day]
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Most active forum: Personal Finance
[ 876 Posts / 90.40% of user’s posts ]
Most active topic: Dave Ramsey story on CNN Money
[ 25 Posts / 2.58% of user’s posts ]

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RayinPenn

“If you tell the truth, you don't have to remember anything.”
― Mark Twain

RayinPenn Posts

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 Forum: Personal Finance   Topic: Downgrading car worth it?

Posted: Sun Aug 14, 2016 5:22 pm 

Replies: 8
Views: 173


1. Emergency fund fully funded?
2. No other consumer debt?
3. Employment appears steady for foreseeable future?
4. No other pending expenses?

If yes to all the above then yeah trading to a less expensive car works IMO.

 Forum: Personal Finance   Topic: Downgrading car worth it?

Posted: Sun Aug 14, 2016 12:11 pm 

Replies: 8
Views: 173


tavorh wrote:
$13k car like a 2012 vw gti with 30-40k miles.


Had you said a 3 year Corolla I'd say sure but if I am not mistaken VW is on the high side for maintenance and not as reliable as the Hondas or toyotas. If you really want to save money no zoom zoom..

Edit: yep VW isn't in the top ten.

 Forum: Personal Finance   Topic: We have been really fortunate and dont know how to invest...

Posted: Sun Aug 14, 2016 11:56 am 

Replies: 16
Views: 305


To get into these investments takes effort and knowledge. You have to network, and be comfortable with contracts. It's basically doing business. These investments are typically open only to accredited investors to take advantage of the SEC exemption. Hence why the simplicity of a set it and forget ...

 Forum: Personal Finance   Topic: The tenant called...

 Post subject: The tenant called...
Posted: Sun Aug 14, 2016 6:13 am 

Replies: 1
Views: 129


A few days ago tenant sent me a text she indicated will be moving out around 9/1; It is great news as we had decided that we don't want to be in the Landlord business any longer. Plus my son will graduate HS in June and I'd like to be free to move. It brings up a number of questions.. 1. For sale by...

 Forum: Personal Finance   Topic: Best use of extra cash

 Post subject: Re: Best use of extra cash
Posted: Sun Aug 14, 2016 5:48 am 

Replies: 6
Views: 330


I might pay off the car first but I need more info. How many miles are you putting on per year? How many miles does it have? How old is the car? What type of car is it? Do you use the car for work? How long before you think you'll need to replace it? By the by not to be disputatious I like Ramsey's ...

 Forum: Personal Finance   Topic: We have been really fortunate and dont know how to invest...

Posted: Sun Aug 14, 2016 5:26 am 

Replies: 16
Views: 305


I respectly disagree with DJFlare99 1. There is no evidence to suggest that long term investments in diversified low cost mutual funds won't continue to perform well - I actually add dividend funds in as well... 2. I've been investing for more years then I care to admit and I've found my ever increa...

 Forum: Personal Finance   Topic: Using Credit Cards in lieu of a personal loan

Posted: Sat Aug 13, 2016 8:16 am 

Replies: 57
Views: 926


LMoot I found this suggest you save it may prove helpful down the road...

http://www.topconsumerreviews.com/debt-relief-programs/?src=top.xoom&gclid=CIaH6Y7Xvs4CFc9ahgodxh8EOQ

 Forum: Personal Finance   Topic: Using Credit Cards in lieu of a personal loan

Posted: Thu Aug 11, 2016 3:46 am 

Replies: 57
Views: 926


Even RiP has seen the light on this one and agrees with me. :D Any discussion about using free credit card money has no place in a get rich slowly forum... Other then to highlight how bad an idea it is... ill ignore the backhanded remark... Because the subject is just too important.. Lmoot: Grade D.

 Forum: Personal Finance   Topic: Using Credit Cards in lieu of a personal loan

Posted: Tue Aug 09, 2016 3:42 pm 

Replies: 57
Views: 926


My last 2 cars were new but they were not flashy. We buy them and drive em forever. There came a point when we had a substantial pile. The kids college was covered and we were 'well heeled' in the retirement funds area. Old vs new car really wasn't significant so we were good to go. I would suggest ...

 Forum: Personal Finance   Topic: Using Credit Cards in lieu of a personal loan

Posted: Tue Aug 09, 2016 8:51 am 

Replies: 57
Views: 926


. I carry $8000, and by next month that will double to $16 or 17k. Not everyone with high credit card balances are paying interest on it, so take the statistics with a grain of salt. LMoot I've been a fan for a long time but ... You are mistaken Nearly 99.999% with a balance carried month over mont...

 Forum: Personal Finance   Topic: The parking lot snow queen

Posted: Tue Aug 09, 2016 5:17 am 

Replies: 2
Views: 287


Sent the car into the shop.. They could find nothing wrong. I got an oil change and a 115,000 mile service $100... What a great old car.

 Forum: Personal Finance   Topic: Using Credit Cards in lieu of a personal loan

Posted: Tue Aug 09, 2016 5:11 am 

Replies: 57
Views: 926


^ exactly. Turning to credit cards because you've run out off options is a bad situation to be in, and cannot be compared to someone who chooses to use one; because the ability to choose to use a cc, means you still have other options. And if using a cc means a free loan + rewards, for me at least,...

 Forum: Personal Finance   Topic: Should I pay upfront or keep paying in instalments?

Posted: Tue Jul 26, 2016 6:45 pm 

Replies: 13
Views: 1241


Personally, I would never pay off 0% early. In fact I regularly take out 0% loans and credit card offers just so I can keep the cash earning interest in the bank. I am very disappointed in you LMoot. For 95% of Americans this is very bad advise. Never never borrow to invest. You remember thos peopl...

 Forum: Personal Finance   Topic: The parking lot snow queen

 Post subject: The parking lot snow queen
Posted: Tue Jul 26, 2016 6:24 pm 

Replies: 2
Views: 287


The Honda CRV has almost 116k miles on it. It is very clean. Other than the normal stuff (tires, breaks, oil changes) in all the years I've owned it since I bought it new It has only asked for a new alternator last year. For the past 3 years it has been my daughters parking lot queen 4 hours away at...
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