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
Sunday, February 21, 2010
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.
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...
Thursday, January 21, 2010
2010 Woohoo!
Budget for 2010. This year my budget rules are:
Actions:
Keep More Money-
1) I changed witholdings with the employer to take out less money. I can use this money during the year and not have to wait for the big refund.
2) www.jillcataldo.com took both classes 1 and 2. The first class is primary on couponing and saving groceries and personal products. Class 2 focuses on saving everything else. For example, notification on Old Navy's twice a year sale 50% off clearance prices. And www.retailmenot.com.
3)organization - I need to know what I have and what I need so I'm not just buying. For example, I keep my kids' next year clothes in banker boxes. I made a list of what I have and what I need and taped it to the front of the box for each kid. I have a copy of the list inside my glove compartment so that I have it for garage sales and clearance sales. Meijers has crazy deals on underwear and socks. I shop Penniwise and other resale stores for clothes.
4)sharing information - http://debtproofliv.meetup.com/111/ We had our first meeting of the year and wow! It is nice to find out ways other people save money. I didn't know that many of the Chicagoland libraries have discounts for 72 museums http://www.museumadventure.org/museums.php Summer activities and entertainment at much lower costs without paying membership fees. One of the members said to join http://www.mycokerewards.com/home.do. Another mentioned, cell phone service through AT&T uses company FAN codes for discounts. www.restaurant.com has many gift certificates with promo codes for 80-90% off. I have been using these restaurant certificates for personal use. One of the members has been giving them as gifts. Summer camp or activities for kids - a suggestion vacation bible school. Lower energy prices through Nicor switch gas provider to http://www.ambitenergy.com/. Mulch through Steve Piper Landscaping in Aurora...Wow 1/2 the price from Sids. Have insurance auto and home repriced.
5)Use the services that are being paid for..i.e. We have a YMCA membership. It didn't get much use last year and I wanted to cancel it. We decided to keep a log of the number of times that it is used. If it is less than $5/visit, we will keep it. So far this month $6.81/visit, projected to be $3.26/visit.
What do I do with earnings over 40 hours:
note -husband is hourly not salary and does not receive vacation pay so priorities:
- 1 income at 40 hours per week
- calculate all expenses on a weekly basis (excel spreadsheet)
- save 10% of income
- log all expenses (notebook for me...I'm not a techy)
- envelop system - cash based
- action plan for expenses (how to keep prices low through brainstorming i.e. gifts, entertainment, childcare)
Actions:
Keep More Money-
1) I changed witholdings with the employer to take out less money. I can use this money during the year and not have to wait for the big refund.
2) www.jillcataldo.com took both classes 1 and 2. The first class is primary on couponing and saving groceries and personal products. Class 2 focuses on saving everything else. For example, notification on Old Navy's twice a year sale 50% off clearance prices. And www.retailmenot.com.
3)organization - I need to know what I have and what I need so I'm not just buying. For example, I keep my kids' next year clothes in banker boxes. I made a list of what I have and what I need and taped it to the front of the box for each kid. I have a copy of the list inside my glove compartment so that I have it for garage sales and clearance sales. Meijers has crazy deals on underwear and socks. I shop Penniwise and other resale stores for clothes.
4)sharing information - http://debtproofliv.meetup.com/111/ We had our first meeting of the year and wow! It is nice to find out ways other people save money. I didn't know that many of the Chicagoland libraries have discounts for 72 museums http://www.museumadventure.org/museums.php Summer activities and entertainment at much lower costs without paying membership fees. One of the members said to join http://www.mycokerewards.com/home.do. Another mentioned, cell phone service through AT&T uses company FAN codes for discounts. www.restaurant.com has many gift certificates with promo codes for 80-90% off. I have been using these restaurant certificates for personal use. One of the members has been giving them as gifts. Summer camp or activities for kids - a suggestion vacation bible school. Lower energy prices through Nicor switch gas provider to http://www.ambitenergy.com/. Mulch through Steve Piper Landscaping in Aurora...Wow 1/2 the price from Sids. Have insurance auto and home repriced.
5)Use the services that are being paid for..i.e. We have a YMCA membership. It didn't get much use last year and I wanted to cancel it. We decided to keep a log of the number of times that it is used. If it is less than $5/visit, we will keep it. So far this month $6.81/visit, projected to be $3.26/visit.
What do I do with earnings over 40 hours:
note -husband is hourly not salary and does not receive vacation pay so priorities:
- make sure all overages go to expenses/envelopes to meet budget
- have funds available to cover expenses due to weekend getaways, vacation, and sick days
- set aside savings for deductibles: auto, homeowners, medical
- replacement costs - if necessary cost to replace vehicle, furnace, water heater, air conditioner
- net worth diversification - liquidity, investments, and real estate, and liability reduction
HAPPY NEW YEAR!
Monday, December 14, 2009
Christmas Meal Gifts
Purchased food from Caputos, pans from Party City, $100 between 5 families:
Cream of Cauliflower Soup: cauliflower 49 cents/lb
spinach/mixed greens (huge bag $3.49) added trail mix and gorgonzola cheese, grape tomatoes $1.99, balsamic vinegar and olive oil.
French Bread Extra Long - $1.99 each
Entree - Roasted Italian Sausage 7lbs @ 1.79, 2 bags red potatoes, green beans, onions, 4 lbs carrots, 1 package celery, bell peppers
Apple Crisp - apples 39 cents/lb
Cookies - Home CFO convenience mixes: peanut butter, molasses, double chocolate chip.
Take the food a couple weeks before Christmas when families are busy with school, work, shopping, etc.
Cream of Cauliflower Soup: cauliflower 49 cents/lb
spinach/mixed greens (huge bag $3.49) added trail mix and gorgonzola cheese, grape tomatoes $1.99, balsamic vinegar and olive oil.
French Bread Extra Long - $1.99 each
Entree - Roasted Italian Sausage 7lbs @ 1.79, 2 bags red potatoes, green beans, onions, 4 lbs carrots, 1 package celery, bell peppers
Apple Crisp - apples 39 cents/lb
Cookies - Home CFO convenience mixes: peanut butter, molasses, double chocolate chip.
Take the food a couple weeks before Christmas when families are busy with school, work, shopping, etc.
Thursday, December 10, 2009
Tuesday, December 8, 2009
Cash Only Challenge
http://www.cnbc.com/id/33584424
Please comment if you plan to participate. About 2 months ago, I went to the envelop system, cancelled most of the automatic purchases to the credit card, switched to using debit card for purchases/payments when necessary.
If you want 2009 to start out with great numbers, cancel the automatic purchases/memberships in the month of December. Then, your January statement will start out right.
Please comment if you plan to participate. About 2 months ago, I went to the envelop system, cancelled most of the automatic purchases to the credit card, switched to using debit card for purchases/payments when necessary.
If you want 2009 to start out with great numbers, cancel the automatic purchases/memberships in the month of December. Then, your January statement will start out right.
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