Retirement/Investment/Lost My Ass, AKA Big Investing Thread

[Capt. Nemo]

I'm not sure the age range around here, but at fiddy-five my future full blown retirement years are starting to concern me since my 401k has been going the way of the great buffalo.
I am also a proponent of the, "two heads are better than one, and ten are better then two" ideology, so I thought that a "big investing" type forum would not be a bad idea becuae I've got this feeling this place has a better then average group of success.
Especially if we could moderate it in way that keeps the subject matter on track, and not allowing it to turn into a "jo-momma" type mosh pit of insults.
An educating but fun forum where we can exchange ideas and info on investing, be it the stock market, old bikes, firearms, boats, art, land, whatever, etc.
I'd volunteer to moderate it, and I believe it would be an asset to not only us older, and old farts but to the up and coming old farts who could benefit from our mistakes and successes.
What say you?

[NoRRmad]

I don't think we need a whole forum; this thread would do.

I'm retired. Going in, I was mixed, 80/20 in bonds/stocks, through Vanguard Mutual Funds. I've lost about 20% of my portfolio -- which in this market is not too bad. I like Vanguard because the fees are relatively low. I chose index funds since managed funds have higher fees, and haven't really outperformed the indexes, particularly recently.

Next?

[DarthRider]

I say great, let's do it! I've been thinking of a somewhat similar thread about all the "issues" that come with having over 50 years' riding experience. I'll do that a bit later.

Don't worry about the "Jo Mama" thing...that's never really been the style here, especially for the last couple of years. And we have really never needed moderators. More like sitting around a beer-table, or campfire at the end of a long ride with your Bros. I don't speak for the group, just myself.

Oh, and thanks for posting this!

[Capt. Nemo]

Nothing pooling our brainy resources for a worthy cause...

Our financial futures:080:

[Deans BMW]

Yes, I am a little nervous. Mz Pam and I have a trust in Texas that is managed by an excellent East Texas Good Ole Boy trust officer in a Lufkin bank that has never sold nor given anything less than a gold plated 20% down normal morgage, They are in excellent shape, the trust is in excellent shape, down well under 20%. My fingers are crossed and I am an optomist..

[Deans BMW]

Capt Nemo, good thread, thanks.

If we go bust, Dave said he will loan us enough $..........

[Arby]

Capt Nemo, good thread, thanks.

If we go bust, Dave said he will loan us enough $..........

Brother, can you spare a dime.....

RB

[JCsman]

I don't think we need a whole forum; this thread would do.

I'm retired. Going in, I was mixed, 80/20 in bonds/stocks, through Vanguard Mutual Funds. I've lost about 20% of my portfolio -- which in this market is not too bad. I like Vanguard because the fees are relatively low. I chose index funds since managed funds have higher fees, and haven't really outperformed the indexes, particularly recently.

Next?

Danged near exactly my story except for:
- Not retired yet (been eligible for 2 years),
- a bit more exposure to stocks, so
- a bit more loss.

[Capt. Nemo]

I've been fixing boats for 35 years. I've met many a very wealthy person. Most made the real big money over the years from real estate, slow and steady.
I've also been self employed for about 30 of those years, trading long term employment (and relative security) for freedom of time.
I'd set up shop, work my ass off for a number of years and then cut out for a few years. I've been pretty good at making decent money, but far, far better at spending it. We have had a great time, traveled a lot and home schooled our kids. All is well but no big retirement fund anymore.
I'm about done coming off a 4 year break, and am making plans to hit it hard one more time.

[JCsman]

Well, Captain Nemo,
At least you have a chance to "buy low". I hope the option to "sell high" eventually presents itself.

A little more detail - if we intend to add to the thread. I'll even go out on a limb and tell you my thoughts on where I'd put money if I had any. And if Cafe folk think I'm full of hooey, let me know, I'll take all the advice I can get.

Judy and I are both in our late 50's (58 and 57). She can retire this fall, I could have gone a couple of years ago.

Living on "half" isn't as tough as you might think when you pull out taxes, savings and mandatory retirement deductions.

Our house is almost paid off. Our last kid will enter college next year. It looks like he's settled on U of Ala in Huntsville. He's been accepted into the School of Engineering.

And we support my mother-in-law a good bit. But, unfortunately the end of that tunnel appears closer than we'd like.

Good news, we've saved and paid off debt for years. Bad news, the college costs and the market hit. Our nest egg is more fit for a hummingbird than an Ostrich.

Still, if I've added it up right, we break even (or are a bit ahead) on pensions and the savings are "gravy". Even when the gravy's been thinned down, it's still good on a biscuit!

I began investing around the age of 30 when I had saved a decent down payment for a home. I was into individual stocks and mutual funds through a broker.

At age 36 I invested in a divorce. I called my broker and told him how much I had to pay out immediately. I wanted to make sure I minimized taxes, fees, etc. I vividly recall him asking, "How much do you need?" After I repeated the figure he said, "That's easy, sell it all".

So, I began again. Both in investing and in marriage. I did a bit better at investing and infinitely better at marriage the second time around.

Ultimately it occurred to me that I'd be last on the list if the broker had a "sell now" signal. And as NoRRmad said, index funds do well with low fees.

Since then my 401k/Roths and IRAs have been in a blend of a bond fund, international, small cap and S&P 500.

The small amount outside of these have been in our son's 529 college fund and/or have been sold off to provide for Judy's mother.

I'll likely ride out life with this basic blend, perhaps nudging the stock/bond ratio a bit.

El Predicto strikes again my "wisdom - and if I were so wise, I'd be posting from my beach house - I am not:
But if I were a kid again, I'd be buying stocks or equity mutuals like mad. Todays stock prices are a steal.

I have faith in America and that the economy will eventually tun around.

When it does, I'd gird my loins against high inflation (my current fear for a year or two out). We simply cannot borrow as a nation forever. As the economy heats up and the market returns, money will flow back to stocks.

There is a ton of money in Treasuries now for safety, even with virtually zero returns. If/when the economy heats up money will flow back into equities. So bonds will be cashed out to buy stocks.

Because the Fed is flooding the markets with easy money, and has for years, and will have to continue to borrow for our growing debt, interest offered on Treasuries (and other bonds) will have to rise. And rise fast.

Bonds will get clobbered. The longer term the bonds, the worse the clobberin'.

So, where to put your money?

I'd look at ETFs (Exchange Traded Funds) in commodities that would do well coming out of a recession, like steel, copper, etc. These feed industry getting cranked up again.

Land and real estate might work too. In some parts of the country prices didn't skyrocket, but they have been beaten down. Another year of two and bargains may abound. Buy when there's blood on the floor, as they say.

So, there are my thoughts. And I guarentee they are worth every penny you paid to read them.:)

[Gord]

Financial planning is such a crap shoot. Maybe Vegas is the answer.

I am a risk taker when it comes to money. I spend it as fast as I make it, or I invest it in high risk ventures to make as much as I can. Money is the source of tension in my marriage to Chrissy because she is so much more conservative than I am.

I have no problem borrowing money to invest. As long as my earnings exceed the interest payments, life is good. The key is to ensure you have enough insurance to cover the loans (I would never want to leave my bride in debt when I die). So my advice is always cover your investment strategy with estate planning. Not rocket science, but easily overlooked.

Diversify. Don't ever be too enamoured with one company, one sector of the economy, or one geography. Spread your investments around, because when one area hurts, another thrives.

Don't watch the market every day. Only speculators do that. And it is speculation that causes the fluctuations that drive normal people insane. I like to think long term and I refuse to get panicky when IBM drops $3 in one day. Because it has had days in the past 6 months when it went up $9 in one day.

Buy now. I am continuing to invest my retirement allotment here in Canada this year. My investment advisor tells me his RRSP (the equivalent of the US 401K) business is off 95%. Hell, I would much rather buy with the TSX at 8,000 than with it at 15,000 (where it was). It will reach 15,000 in the next 2 years, and I will make money.

Pay down debt. I have a couple of lines of credit that I am now paying incredilbly low interest rates on. I am putting as much additonal cash into these as I can to pay down principal. I hate to say it, but I have job security, a good income, and low interest rates. The bad economy is very frikkin' good for me - at least in the short term.

So my plans of retiring at 53 are shot. But I am working hard to ensure I do have a retirement by 60, and a debt free retirement too boot!

[Capt. Nemo]

This stuff is great!

Thanks!

[Ed K]

IMHO the most important aspect of financial planning is not traditional financial planning, such as ratios of Stocks/Bonds, Small Cap, Mid Cap, Blue Chip, Treasuries, Corp Bonds, Munis, ETFs, etc, although that is an important component of the planning process.

IMHO, personal financial planning should first be put in the context of macroeconomics. And, interestingly, in many cases, in the context specifically of nonfinancial trends that influence macroeconomics.

Thirty years ago, in Business School, I studied with some folks in Wall Street that are now called "Quants" (short for quantitative). Heck, I almost became one, when I wrote a thesis on a variation of the Capital Asset Pricing Model... but then took an entirely different route...

Quants get all excited when their quantitative models perform well, and sometimes snicker when no one understands the models but them...

But the real secret that is rarely said, is that the models are only as good as the variables going into them. No matter how sophisticated the math is, if its correlating the wrong things, or if a new impact occurs that wasnt considered, the model is not a good predictor. Btw, models are never wrong, they just need to be adjusted for another variable, or used differently. :)

And the type and "weight" of those those variables impacting financial models, are changing all the time in the real world.

Also, frequently, the variables themselves, are more important than the fancy models. This is what happened in the current financial meltdown. The logic of the models was not "wrong", but other systemic risks were being ignored... while the models continued to calculate to the third decimal place...

So IMHO, to be personally involved in one's financial future and make well informed decisions, one needs to take a wider perspective than traditional financial planning.

Study, learn and absorb financial and non-financial information from opposing sources, like the Wall Street Journal, and the NYT, to gain more knowledge from all perspectives. Even if one tends to side one way or the other. (I really enjoy my daily morning and bed-time readings of the WSJ and NYT... before picking up a book or mag... )

Then roll all this information together to formulate conceptual frameworks, to determine probabilities of future expectations of the world, and finally apply it to one's personal financial decisions. It might sound difficult, but really, its not.

The more you read, the more trends emerge, then one starts asking questions, and one digs deeper... then, suddenly, it crystalizes, and leads to a personal financial decision. It doesnt require calculus. Or even pen and paper. Just good observation, and understanding of basic economic concepts.

Consider macro factors such as: What is the probability of growth in the economy? How will political leaders (not just US) influence exchange rates to impact their economies? How will debt impact growth? How much productivity remains from recently discovered technologies? Are we on the edge of another major technological trend, or not? What is the average age of the US and world populations? What is the probability of terrorist attack?... etc... Its fun to read about this stuff (not the terrorist attack!), and ponder on it.

Predicting the impact of these macro variables on the world economies pretty close to right (does not have to be perfectly right), is a major input into formulating a financial plan, and finally deciding on investment decisions.

Many would say, one cannot foresee these things with certainty. So why bother?

I would agree that you cant foresee things with certainty. But would quickly add that one doesn't have to do it with great certainty. Just have a reasonable probability that it will occur, which will then be factored into Marco Economic trends, and Financial Markets, and Personal Financial decisions.

It was through this process that I decided in Jan 08 to make very major changes to my portfolio (up 4% last year)... and kept my retirement on plan for next year.

Probably, I just got lucky!

Even more important, IMHO, is to live simply, but comfortably... I dont need much to be happy.

Well, except for maybe... the KS.

(A guy has got to know his weaknesses... right???)

[Deans BMW]

This has become a most important and enlightening thread, WOW.

One of the most glaring and obvious issues the above posts have pointed out is that the "Cafe" has attracted some really smart and informed members, or to put it another way.................WHO IN THE HELL LET A DUMMY LIKE ME IN HERE IN THE FIRST PLACE?????.

I feel like the dumb grade school kid that accidentally stumbled into an advanced Astro physics class..

Please keep it up.............I may have to borrow from all of you...

[jb44]

...
I feel like the dumb grade school kid that accidentally stumbled into an advanced Astro physics class.....
Me too.

My simplistic long term strategy....spend less than you earn.

In my second year of retirement the wife and I are not rich, but "comfortable".... until it takes a wheelbarrow of cash to buy a loaf of bread.

jb

[Capt. Nemo]

IMHO, personal financial planning should first be put in the context of macroeconomics. And, interestingly, in many cases, in the context specifically of nonfinancial trends that influence macroeconomics...



Even more important, IMHO, is to live simply, but comfortably... I dont need much to be happy.

Well, except for maybe... the KS.

(A guy has got to know his weaknesses... right???)

Wow... I really appreciate that, Ed K! no doubt others do as well!

And, I too agree w/ others and you about living a simplified life, therefore needing less funds yet still enjoying life and loved ones and helping out where one can.

[Capt. Nemo]

Me too.

My simplistic long term strategy....spend less than you earn.


jb


Us too!:041:

[DarthRider]

I was never interested in economics or finance. Still not, I spent all my time on motorcycles, the one true, enduring passion of my life.
And I guess maybe now I'm starting to pay the price.
Through most of my career, and Betty's, we had good company savings plans & 401k's, and generally did well on saving, always max-ing out the company contributions.
Towards the end of our careers we got involved with financial planners and "trusted but verified" as best we could. Our nest egg took a couple of major hits along the way, but did pretty well over time.
In addition to the savings/investments, I was collecting/accumulating various "collectibles"...things I particularly was interested in. The plan being is I would have a great collection of things like antique motorcycle toys, books, memorabilia, racing related items, etc., then when I retired I would start selling them off as a retirement supplement. This later expanded to include race car & aircraft goodies. And Betty's MGA which we bought cheap and totally restored over an 18 year period.
We paid off our house several years before retirement, although that produced a lot less monthly cash than we'd thought, so much still went to taxes & insurance.
Our plan was to retire when I was 63, Betty 61. Sell our old house, move back to the little canyon near Amarillo, and build a very nice but small(er) retirement home. We had bought the property over 10 years prior.
Then we ran into almost a "perfect storm" of retirement "difficulties". The old house brought less than we'd expected (an early victim of the declining housing market), and the new house cost substantially more due to deed restrictions requiring a larger than needed/wanted house, poor estimating on the contractor's part, and various over-runs, some major.
The plan was to pay for the new house with the proceeds from the old, instead we ended up with a nice mortgage.
Our combined company pensions & Social Security put us at about the break-even point. We could live with that, with supplemental income from savings & investments and sales of my collectibles except for a couple of things...mainly the economy which has now eaten 30% of those funds and there is now no return. The economy has also killed the market for the things I was going to sell in my little retirement business I call "Moto Memories...Little Toys for Big Boys". At retail, the things I have in stock are valued at well over $200K, but there is no point in selling them right now. The income from this "hobby/business" was going to finance new motorcycles, motorcycle projects, parts & gear, road trips, etc.
What really bites us now are taxes & insurance, and any unplanned major expenses.

We are both now looking for interesting or even fun part-time jobs. This was also part of our plan as we both want to work a few more years "on our own terms" and those earnings were to be combined with savings proceeds to finance international travel, and a new pickup and travel trailer. But now that job market is saturated with unemployed/under-employed people trying to put bread on the table. The unemployment rate in this area is "only" about 6% now, but it's very tight. One of my part-time jobs was going to be driving "re-location" cars for dealerships. That's gone.

Last week we both took tests with the Census Bureau for a number of part time/full time temporary jobs for the 2010 Census. Not very glamorous or fun, but it would help.
Betty is the best household financial manager in the world and is doing a great job. If I was doing in it we'd be eating stone-soup!

We're not destitute or desperate, not at all. We're actually pretty comfortable. I'm probably painting a bleaker picture here than is actually correct, maybe venting a bit too. We'll make it OK, later if not sooner when the economy turns around. In the meantime, we're keeping the belts tight, going "bang for the buck" in lots of things, doing what we can and keeping a positive outlook. Staying healthy to avoid those disastrous costs. And downsizing our retirement dreams to the new reality.

Mine is definitely not a "do it this way" thread, maybe a bit of leading by poor example, truth be told.
You younger guys take heed.

[MilesAway]

Hello All,

I've been a long time lurker on both this site as well as "the other" site. On the few occasions when I've had a question the answers I have received have always been outstanding. I've even done a very small bit of business with one of you (Dean sold me a backrest for my R1150R) which I was very happy about. Perhaps now is an opportunity to payback.

When I'm not checking what's going on here, I am a fund manager, both mutual funds and pension funds. I manage a Japanese fund, an Asia Pacific fund and as of more recently a European and EAFE (basically global, non US) fund. I also co-manage a global fund. In total I'm directly responsible for over a billion $ in assets. I've been doing this for over 10 years.

I can't give financial planning advice or hot tips (which don't really exist unless someone's cheating), I also can't tell you what's going to happen tomorrow, next week or even for the balance of the year. I can however answer a broad range of investment related questions that you may have and it will be my pleasure to do so.

Cheers,

J.

[DarthRider]

Hi Justin, long time no hear from!
Good to see you posting again, and thanks for your generous offer on the questions.

[JCsman]

I forgot. I also have a current lotto ticket....:webers:

[jamming]

I"l jump in. I've been with the same major Airline (cargo) for 27 years. I'm maxed on my pension, my 401 contribution, which I max every year and is matched(which they stopped due to the current financial crisis) by the company and I always thought I'd be OK. I've always worked on my own and pretty much invested it. I'll be OK with just the pension and 401 if it comes back.

I've taken a huge hit in the market, my side jobs dried up, I've got huge college loans(my wife's) so moneys tight, but, we'll make it. I've still got a job and keeping my fingers crossed that my wife who works for the state as a caseworker won't be laid off.

Look, I'm no financial guy. I'm a mechanic. You engines busted I'm your guy, need a tire changed..ditto.

I'm learning from you all...thx.

[isiahstites]

Great thread!! I love reading about all of your experiences as I tend to spunge (absorb) on anyone who is older than me, when it comes to knowledge.

Ed, I was not looking forward to a few upcoming classes next year. Microeconomics and Macroeconomics, but after reading your post I can not wait as I really enjoy learning and understanding things, thanks!

Scott

[Arby]

My turn.

I'll steal a line from jb44, We've spent less than we've earned.

Another line from Ed K, we've been content to live a comfortable, but simple lifestyle.

I'll add another very important lesson I learned, (and saw put into practice) from my father. Make certain you are the guy collecting interest rather than the one who is paying the interest.

This is not difficult. It's simple really, if we couldn't afford it, then we didn't buy it. If by chance we were forced to take a loan, we paid if off asap.

We paid off our first 20 yr home mortgage in 9 yrs, and we've made that our S.O.P. ever since.

We've reinvested those funds in savings, various US notes, stock market (both our own choices and mutual funds) and mom & pop level real estate.

We're both 63 now, so we're less aggressive in our investing now, and more into conserving.

We have no mortgages, Our rentals are in the black, except for one vacancy. I cashed out most of my HD stock before the crash and managed to close out our Merrill Lynch before it all went toward bonuses:thumbs_down:. But, we've left enough in the markets to reap the benefits, if they (ever)come back.

We're looking to conserve funds in case they're needed to ride out this (current)turbulence.

Needless to say, we've always maxed out our IRA's and any other tax deferred retirement plans that were available to us. Also, we took advantage of 1031 tax defered real estate exchanges when we could.

RB

[Deans BMW]

Justin, great to hear from you, If I knew what to ask, I'd ask a question.

[Ed K]

Ed, I was not looking forward to a few upcoming classes next year. Microeconomics and Macroeconomics, but after reading your post I can not wait as I really enjoy learning and understanding things, thanks!
Scott

Go for it Scott... but if you can swing it now, get a subscription to the Wall Street Journal. I subscribed at a discount as a college student... and more than 30 years later still am reading it, am still learning new financial concepts and of course current events daily.

Also, there's lots of practical financial and other info in the WSJ, in addition to the theoretical stuff. Here's a couple of examples:

1) Bush's stimulus check can be calculated based on 2007 (the year it was based on when sent), or 2008 income. Either one! So if any of you happened to take a dive in your income in 2008, check it out, you might be eligible for a further extra Bush tax refund on this year's tax return.

2) Any of you have regular IRAs, but can't convert them to a Roth because of high income limitations? In 2010, there's a one time opportunity to change from Traditional to Roth... without income limitations (if the current U.S. admin does not change this law passed by Bush, but the whispers are it wont change because of the needed tax revenue).

Why convert from a Traditional to a Roth? Well, it depends... and is a highly personal decision based on many factors, but if you expect to live a long time, consider that the earnings on a Roth will not be taxed... so it may be worth it to pay the taxes up front... which btw, can spread over a couple years. And especially if you have a Traditional "after tax" IRA (where one has already paid taxes on the contributions, and are only deferring the earnings)... it probably makes even more sense (dollars!) to convert to a Roth since there will be no tax liability to do the conversion from Traditional to Roth.

3) To Itemize or use Standard Deduction... pretty straight forward. If more than $10,900 in deductible expenses, then itemize, else use the $10,900 Standard Deduction, right? Well, not exactly. Its easy to forget that the IRS allows another $1000 State and Real Estate taxes to be added to the Standard Deduction of $10,900, if filing jointly. So the break even point to examine if its worth it to itemize is really $11,900... not $10,900.

I am not a tax accountant... so if anyone is seriously considering either, pls check further and/or see a pro... these are discussed merely as examples of kinds of things in the WSJ on the practical side, in addition to the theoretical financial stuff that can be found on a daily basis.

Post script: Oh, I forgot to mention... there's a free WSJ web link that's quite good. If you have a minute, check it out here: http://online.wsj.com/home-page

[Biff's R]

Thanks for the examples guys.

I have a long way to go to retirement since I am only 34, but I have been saving for it since I graduated from college in 1996. This is the second/third time(tech bubble/9-11 could be 2 hits or 1 depending upon how you look at it) the market has taken a dump since I started saving/investing.

I have a bit of money in the same fund family as NoRRmad, but my mix is about the opposite of his since I am a good deal younger. I just wish I had listened to my gut in late July/early August of last year. I just had a feeling that I should move some things out for at least 6 months and see where things were. I could have put myself in a great position right now, but I have time on my side so it is not as big a deal. Things will come back.

We also bought a smaller less expensive house so that we were not slaves to our mortgage. Any other loans that I do have are all at a very low rate.

At work, we are just trying to get through 2009, because there seem to be some positives for 2010.

[isiahstites]

Go for it Scott... but if you can swing it now, get a subscription to the Wall Street Journal. I subscribed at a discount as a college student... and more than 30 years later still am reading it, am still learning new financial concepts and of course current events daily.



1) Bush's stimulus check can be calculated based on 2007 (the year it was based on when sent), or 2008 income. Either one! So if any of you happened to take a dive in your income in 2008, check it out, you might be eligible for a further extra Bush tax refund on this year's tax return.



Ed - I checked into this one and found out that my tax acountant had already made sure we got this one. I already received my federal refund (actually within 3 weeks of filling) and am now waiting for my lovely state to get off of their asses and send me my dam money! It sure is amazing, if I owed them money they would be sending me threatening letters. Since they owe me money it is ok to sit on it and take your sweet ass time!! Do you think they will send some interest when they do send it?? I think not.........

Scott

[Ed K]

Ed - I checked into this one and found out that my tax acountant had already made sure we got this one. I already received my federal refund (actually within 3 weeks of filling) and am now waiting for my lovely state to get off of their asses and send me my dam money! It sure is amazing, if I owed them money they would be sending me threatening letters. Since they owe me money it is ok to sit on it and take your sweet ass time!! Do you think they will send some interest when they do send it?? I think not.........Scott

Yup Scott... also being in CA, same here.

On a separate topic, for homeowners, I assume everyone has checked to see if their house can be reassessed to get a better deal on their real estate property taxes... given the big decrease in housing prices.

However, the above does not apply to houses purchased in California many years ago... because Prop 13 keeps the assessed value well under market value if purchased many years ago.

[isiahstites]

Yup Scott... also being in CA, same here.

On a separate topic, for homeowners, I assume everyone has checked to see if their house can be reassessed to get a better deal on their real estate property taxes... given the big decrease in housing prices.

However, the above does not apply to houses purchased in California many years ago... because Prop 13 keeps the assessed value well under market value if purchased many years ago.


I got my state return today via direct deposit. Of course, there was no interest.

Scott

[Arby]

On a separate topic, for homeowners, I assume everyone has checked to see if their house can be reassessed to get a better deal on their real estate property taxes... given the big decrease in housing prices.

However, the above does not apply to houses purchased in California many years ago... because Prop 13 keeps the assessed value well under market value if purchased many years ago.


The same goes for Florida residential taxes. We have homesteaders exemption, plus Save Our Homes. The first gives a $25,000 deduction in assessed value, the second puts a 3% cap on real estate tax increases.

As an example, my homes RE taxes run about $1,500, the taxes on a residential rental worth about the same amt, in the same county, but different municipality are about $4,500.

It's a big incentive to stay in your old house, and add on and repair as needed.

But Ed's advice about checking into getting the assessment lowered is good advice, if you're a fairly recent home buyer.

RB

[Deans BMW]

Our RE taxes actually went down a few bucks this year to about $800 per year, not bad with a current real estate evaluation of something over 1/2 M. The taxing authority is not aware of the MC B&B as it can not be seen from anywhere.

[JCsman]

Our RE taxes actually went down a few bucks this year to about $800 per year, not bad with a current real estate evaluation of something over 1/2 M. The taxing authority is not aware of the MC B&B as it can not be seen from anywhere.

Wait'll the bastiges start using Google Earth or other tools.... sigh. Hard to hide from the tax man forever.

And, no, $800 for 1/2 a million is not bad, not bad at all.

[AZBMWRIDER]

Our RE taxes actually went down a few bucks this year to about $800 per year, not bad with a current real estate evaluation of something over 1/2 M. The taxing authority is not aware of the MC B&B as it can not be seen from anywhere.

But they can read about it here...

Be careful what you post...

[Capt. Nemo]

It is starting to become a buyers market up here as prices get reasonable again. What I'm seeing most is deals on bare land.
But a pretty good number of rental homes are now up for sale as well, and I guess because many folks have moved out?
There was quite a building frenzy up here for the past 8 years and it has slowed way down as it has in many places.
Equipment has gotten cheap as well. My son just bought a 5 yard IH dump truck for 500 bucks from a concrete congtractor that went tits up. Yes, it runs fine. He's going to rent himself, and the truck out for 45 an hour and see what happens. He's a marine diesel mechanic by trade, but can always use an extra buck. We've got a plethora of private dirt roads needing gravel, so he's going to advertize that he can deliver gravel, tip soil etc. If he gets too few takers, he's going to put it up on eBay for 1000 bucks ans see where it goes.
Perhaps opportunity can knock in odd ways...

[Malindi]

It is starting to become a buyers market up here as prices get reasonable again. What I'm seeing most is deals on bare land.
But a pretty good number of rental homes are now up for sale as well, and I guess because many folks have moved out?
There was quite a building frenzy up here for the past 8 years and it has slowed way down as it has in many places.
Equipment has gotten cheap as well. My son just bought a 5 yard IH dump truck for 500 bucks from a concrete congtractor that went tits up. Yes, it runs fine. He's going to rent himself, and the truck out for 45 an hour and see what happens. He's a marine diesel mechanic by trade, but can always use an extra buck. We've got a plethora of private dirt roads needing gravel, so he's going to advertize that he can deliver gravel, tip soil etc. If he gets too few takers, he's going to put it up on eBay for 1000 bucks ans see where it goes.
Perhaps opportunity can knock in odd ways...

Hope it works out. A lot of big businesses started during the last depression. Look at Boeing...

[Capt. Nemo]

Hope it works out. A lot of big businesses started during the last depression. Look at Boeing...

Hey Malindi! Welcome aboard!

Yea, I've seen some good deal on boats too:080:

BTW, do you see a big fat session of inflation on the horizon for the U.S. and even Canada?:headscratch:

[Deans BMW]

A grand, HMMMM, that might just be the ticket for use around the MC B&B. I can get anysized screened for $5.50 per yard, and good quality Pit Run for $3.50 per yard. Only 5 miles from the house.

[Malindi]

Hey Malindi! Welcome aboard!

Yea, I've seen some good deal on boats too:080:

BTW, do you see a big fat session of inflation on the horizon for the U.S. and even Canada?:headscratch:

Inflation is not an immediate concern I think. Housing is going to keep sinking and spending is not going to recover for a long time. Spending is about 70% of GDP, so unless that picks up we're doing a Japan...

[Capt. Nemo]

A grand, HMMMM, that might just be the ticket for use around the MC B&B. I can get anysized screened for $5.50 per yard, and good quality Pit Run for $3.50 per yard. Only 5 miles from the house.

You see what I mean! :icon10:

[Capt. Nemo]

Inflation is not an immediate concern I think. Housing is going to keep sinking and spending is not going to recover for a long time. Spending is about 70% of GDP, so unless that picks up we're doing a Japan...

This may be like in 82'. Lots of opportunity:naughty: