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My Personal Finance Blog

My Personal Finance Blog

Advice, research and tips on improving your financial life

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Update in brief…

7th October 2007

I know I know, it’s been forever since I’ve posted anything… I’ve been completely consumed by various things including selling our old house, working on a project for a client and life in general. It seems I’ve gotten out of the habit of posting (or gotten into the habit of NOT posting) and have ignored you all for too long (again)… For this I apologize.

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Posted in Investing, Miscellaneous, Moving to Illinois, My Goals, Real Estate, Retirement | 4 Comments »

Get a free gram of gold!

11th July 2007

I’ve been interested in purchasing a small amount of physical gold for our portfolio and trying to find ways to do so cheaply. The spreads and commissions from many gold dealers is higher than I like and the premium you have to pay for coins just doesn’t make sense to me. My reason for wanting to own gold are two-fold.

1) Gold is an inflation hedge/hedge against the falling dollar - over time, it’s value in real dollar terms remains pretty much constant. That being said, the price does fluctuate, sometimes dramatically.
2) Gold peaked in 1983 at a bit over $800 per ounce. If you were to adjust that price to today’s dollar it would be around $1,800, or nearly 3 times what it is worth today.

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Posted in Commodities, Investing | No Comments »

Will the Subprime mortgage industry’s woes bring down the rest of the economy?

11th July 2007

I’m not normally the doom and gloom type but what I’ve been reading about subprime mortgage debt has me a bit concerned… I don’t know what will happen but one possibility is laid out below.

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Posted in Bonds, Financial News, Investing, Real Estate | 1 Comment »

An example of the need for emergency funds

27th June 2007

Last Thursday night I was out watering the horses (which I do just about every day.) On my way out, I noticed that our well pump was running (before I turned the water on.) I decided to give it a few minutes to see if it would build pressure and turn off. It didn’t.

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Posted in Emergency Funds | 2 Comments »

Expanding your credit lines - Step 1 - Clean up that credit!

24th June 2007

I originally wrote this a few months ago but only just now finished it. Some of the details in the post may be a little out of date but they were accurate at the time. I’m now working on the next article in the series and will have that up within the next few days.

This is the first in a multi-part series of posts on building up your credit lines. I’ve been reviewing the credit lines I have open and working to improve my credit scores as much as possible to prepare to apply for a number of new credit cards. The benefit of this is to both grab a bunch of account opening bonuses as well as taking advantage of 0% balance transfer offers.

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Posted in 0% Credit Cards, Credit Cards, Debt Reduction, Saving Money | No Comments »

Prosper update - Still pulling out.

22nd June 2007

It has been a while since I posted that I was pulling out of Prosper. I still see no reason to continue investing in this vehicle.

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Posted in Prosper.com | 11 Comments »

2nd Buyer backs out…and other updates

21st June 2007

Our second buyer backed out at the last minute. Turns out they could not obtain financing. So, we’re back where we started…

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Posted in 0% Credit Cards, Miscellaneous, Moving to Illinois, Real Estate, extra income | No Comments »

Update on the house sale

2nd June 2007

The international buyer fell through…not entirely surprising.

We did end up with another offer on the house that we’ve accepted. They are using conventional financing and are pre-approved for the purchase amount. The inspection happens next week and the closing is set for June 15th.

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Posted in Moving to Illinois, Real Estate, Retirement, Saving Money, solo 401k | 4 Comments »

Update - selling the house

24th April 2007

So we’ve gone through the negotiations and have agreed to sell our home in Detroit… The final sale price is quite a bit lower than we’d hoped for ($375K) but given the market conditions and the limited time we have to take advantage of my wife’s relocation package (which covers commission) we felt it was the best deal we could make.

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Posted in Moving to Illinois, Real Estate, Saving Money | 3 Comments »

Got an offer on our house…

13th April 2007

Writing from the road so this will also be short…

We received an offer on our house in Detroit. It is well below our asking price (asking $465, offer is $350). We’ll try negotiating it up a bit.

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Posted in Moving to Illinois, My Goals, Real Estate | 2 Comments »