Trading Options

Finally, my 2 year goal was to do covered calls and trade my self directed IRA. I finally have the trading platform, my analysis software, my paperwork in order. Within the next 2 weeks, I should be an active trader.

This week:
reread Understanding Options by Michael Sincere (writing covered calls, managing covered calls)
look for 10 stocks with profitable covered calls
find 3 blogs that I can follow

Probate - out of state

Inherited timeshares - annual maintenance costs, legal fees, and agent fees.

We inherited 3 weeks of a timeshare. The title work was never transferred into our name and now we want to sell the weeks. I ordered the title work for the timeshares and it has never been transferred (death was in 1996).

We talked with one attorney and the cost would be about $2500+court fees (expecting $400+). Plus the agent to sell the timeshare wants a minimum of $1500 or commission above that. That doesn't leave much left.

Today, I was on the website to Florida's circuit court. After reading a bunch of statutes, do believe that we can represent ourselves. I sent an email to the probate department of the county and...

I'll keep you posted.

2009 Annual Report

Happy to say that I have my income taxes done. I'm calculating the figures to see if we met our goals:

• age x income/10 = average accumulator of wealth x 2 = our target (from book Millionaire Next Door)
• 20% savings contributions (retirement, added cash value in insurance, principal reduction of mortgage, and education savings)
• 21% of annual income from passive sources (net rental income, dividend, capital gains, & interest) - an age based calculation
• 10% charitable contributions to family/community

Also, the annual report should reflect our mission - financial freedom and time spent with family, a comparison of the net worth statement from 2008-2009, employment marketability...