tag:blogger.com,1999:blog-2593166268215823453.comments2010-03-13T10:51:59.770-05:00J. Moneyhttp://www.blogger.com/profile/11310942434991302826j@budgetsaresexy.comBlogger3616125tag:blogger.com,1999:blog-2593166268215823453.post-68123193494950100632010-03-13T10:51:59.673-05:002010-03-13T10:51:59.673-05:00I just use my credit union - I have an interest-earning no fee checking account, plus a savings account. I have a large number of sub-accounts - each with a different account number extension.<br /><br />I really enjoy breaking my savings into numerous categories - I have over 10, and each has it&#39;s specific purpose.DBnoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-33020440606107917032010-03-13T09:06:10.637-05:002010-03-13T09:06:10.637-05:00How to know when a Stock (or other asset) is to high, is a very difficult question with no simple answer. If you knew for certain there would be sitting on the beach in the Bahamas with an umbrella in your drink! For years before the Tech crash of 1999-2000 and the Credit Crisis of 2007-2009 I heard about these markets being over bought but it still took years before they crashed! I think the safest way to play markets is to consistently take profits as the market is moving your direction and to cut losses quickly when they reverse course. Sure sounds simple but I know it is difficult. As an example all of my 401k money i put into the market last year has been taken out and placed in cash (because the market rallied). New money will be put in again this year. If the market falls I will have a lower average, if it goes higher i do the same as 2009. I will never be rich doing this but neither will i with buy and hold (10,000 invest in S&amp;P in 2000 was worth 9000 10 years later) Good Luck Banker...Bankerhttp://financialhaze.com/noreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-147634498242218372010-03-12T22:47:07.824-05:002010-03-12T22:47:07.824-05:00Mint.com.... that&#39;s so RavenTomhttp://www.blogger.com/profile/08470738121629571130noreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-33819525697795579082010-03-12T21:27:49.890-05:002010-03-12T21:27:49.890-05:00Where in Europe are you going? I;m going to Turkey &amp; GReece in July and I cannot wait!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-37723722032456397552010-03-12T20:08:26.254-05:002010-03-12T20:08:26.254-05:00Many stocks are still way below their 52 week high. In the long run, I&#39;d say now is still a good time to invest, though I&#39;m thinking we will have a market correction coming here sometime soon..myfinancialobjectiveshttp://myfinancialobjectives.comnoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-25087817013827306462010-03-12T18:09:21.078-05:002010-03-12T18:09:21.078-05:00So basically, stock prices are just imaginary numbers that may or may not refer to actual monetary value?Roberthttp://www.insweb.com/home-insurance/home-insurance.htmlnoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-67336665905599119802010-03-12T15:27:59.003-05:002010-03-12T15:27:59.003-05:00just signed up ! Happy #TGIF <br />@cdmtx65Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-4314881078212138712010-03-12T15:17:43.222-05:002010-03-12T15:17:43.222-05:00Just today I called the credit union to get the routing number and full account number so I can move money into one of my ING Direct sub accounts. I keep all our savings in one account right now, and keep an Excel spreadsheet so I know how the money divvies up. But I keep thinking it would be great to have the money in its own account... I do know one thing, if you want the account to be joint, the second person has to have their own individual account.Mrs. Accountabilityhttp://www.blogger.com/profile/03665225410166065865noreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-23728245872956237062010-03-12T13:53:18.738-05:002010-03-12T13:53:18.738-05:00Sub accounts are the only way to go. I have 15 sub accounts and all my money is routed through them. The mortgages and taxes are drafted from the &quot;housing&quot; account. All Utilities are drafted from the &quot;utilities&quot; account and so on. I love it, we just move the budgeted money from our checking (ing orange) into each account and that&#39;s it.<br /><br />Rock on Brother!!Jeff @deliverawaydebthttp://deliverawaydebt.comnoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-52603950300835654532010-03-12T13:14:25.310-05:002010-03-12T13:14:25.310-05:00Indeed, Rob is right on the wealth going away. <br />Whether we are talking stocks, real estate or commodities, when the price is X% below its previous high, that difference in wealth is simply gone. One day a stock holder is sitting on a million dollar portfolio, feeling like a millionaire, and able to borrow against it. When the market now says his portfolio is worth say $500,000, but there were no transactions, to say that someone else now has that $500K in their pocket implies a zero-sum game where one does not exist. <br />You can accuse Rob of the generality of &quot;too high,&quot; but it&#39;s a truism which may only be obvious in hindsight.JoeTaxpayerhttp://www.joetaxpayer.comnoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-1552840124694969032010-03-12T09:30:50.359-05:002010-03-12T09:30:50.359-05:00Hi Donna, <br /><br />Sorry I am just seeing this now, writing you an email now.<br /><br />Nicole at Breaking EvenNicole Ouellettehttp://www.breakingeveninc.com/blognoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-87127690056043551062010-03-12T05:07:23.618-05:002010-03-12T05:07:23.618-05:00You guys find unbelievable 79,9% APR? What do you guys tell me then of an average 200% APR!? Yes! TWO HUNDRED percent!<br /><br />Crazy? Illegal? Immoral?....<br /><br />This is the average APR credit card companies charge in Brazil.É barato ser rico!http://www.blogger.com/profile/09863932944650120618noreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-9718922947122812712010-03-12T00:23:54.752-05:002010-03-12T00:23:54.752-05:00Hey J. Money, thanks for the shout-out and glad you like our name. It fits the bill!<br /><br />I&#39;d love to get your thoughts, and some feedback on the site. Please drop me a line any time.Timhttp://www.nerdwallet.comnoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-53488735354976023722010-03-11T23:18:56.905-05:002010-03-11T23:18:56.905-05:00I hardly ever do sodas anymore. I just decided I did not want to drink my calories. Occasionall (like once a month), I will get a hankering for a Coke and pay 75 cents at a vending machine because if I buy them, I will drink them. lol :)The Debt Darlinghttp://www.thedebtdarling.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-62618011129251552512010-03-11T22:58:44.569-05:002010-03-11T22:58:44.569-05:00<i>There is a large number that enjoys the learning experience (without necessarily buying into everything I say, of course). And there is a small but incredibly intense group that often tries to shut down the discussions.</i><br /><br />Like the Monevator, for example?<br /><br />http://arichlife.passionsaving.com/2010/03/11/monevator-blog-bans-honest-posting-on-flaws-of-buy-and-hold/Schroedernoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-60374621098195565592010-03-11T22:43:17.749-05:002010-03-11T22:43:17.749-05:00I live on one modest income. My wife home schools our eight children. We have just a little bit of debt and mostly our mortgage. We&#39;ve saved way over $100,000 back for retirement and other savings and are in our early 40&#39;s and hope to have as close to a million dollars saved as we can by the time we reach 65. If we can do it anyone can it just takes discipline, budgeting, and a lifestyle that allows. Check out my site to learn how we do it.Oscar At Real Life Money Managementhttp://www.real-life-money-management.comnoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-8461485056270983202010-03-11T22:30:28.404-05:002010-03-11T22:30:28.404-05:00Okay, count me in. I am trying to save up a million to buy a particular business and I don&#39;t know if I&#39;ll still want it when I&#39;m 40 something, but it doesn&#39;t hurt to try right?!APhttp://dashtodebtfreedom.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-25552221525936203552010-03-11T21:54:32.742-05:002010-03-11T21:54:32.742-05:00Indeed, Rob is right on the wealth going away. <br />Whether we are talking stocks, real estate or commodities, when the price is X% below its previous high, that difference in wealth is simply gone. One day a stock holder is sitting on a million dollar portfolio, feeling like a millionaire, and able to borrow against it. When the market now says his portfolio is worth say $500,000, but there were no transactions, to say that someone else now has that $500K in their pocket implies a zero-sum game where one does not exist. <br />You can accuse Rob of the generality of &quot;too high,&quot; but it&#39;s a truism which may only be obvious in hindsight.JoeTaxpayerhttp://www.joetaxpayer.comnoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-9600011293766683912010-03-11T19:59:38.694-05:002010-03-11T19:59:38.694-05:00Yeah, USAA isn&#39;t always the *best* rate out there but I still always choose them. I&#39;ll take a tiny bit less money for better customer support :)<br /><br />Glad to see you&#39;re reading Ramit&#39;s book too! It&#39;s one of my all-time favorites - so fun and easy to read, really glad he came out with it.J. Moneyhttp://www.blogger.com/profile/11310942434991302826noreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-28592998205676305712010-03-11T19:54:33.700-05:002010-03-11T19:54:33.700-05:00Nice! I hope they implement sub-accounts or something similar. They&#39;re pretty good about being on top of website technologies. I was checking out ING after reading a few chapters of Ramit&#39;s book but the only 2 things is has over USAA is a tiny bit higher interest rate and the ability to do sub-accounts.Briannoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-68423904213908226702010-03-11T19:53:32.968-05:002010-03-11T19:53:32.968-05:00Great idea with the sub-accounts. <br /><br />I have ING savings for my e-fund and that&#39;s about it. Oh, I have an IRA with Sharebuilder, I guess that counts too?<br /><br />I like the Christmas fund idea, although a Vacation fund is more URGENT right about now!donkeehttp://www.donkeehouse.comnoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-80832398233659263032010-03-11T19:46:40.106-05:002010-03-11T19:46:40.106-05:00Well, you sure are thorough now aren&#39;t you Rob :) Thx for responding to everyone&#39;s comments. I knew it was risky throwing up one of your posts but it&#39;s always nice hearing a new point of view and different style - so thanks!<br /><br />@Sam - Thanks for calling me directly, I really appreciated that. Glad we&#39;re still anonymous friends here ;) I&#39;ll hit you up for sure next time I&#39;m in town, and I&#39;ll even show up!J. Moneyhttp://www.blogger.com/profile/11310942434991302826noreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-75344249959763630162010-03-11T19:43:22.541-05:002010-03-11T19:43:22.541-05:00Wow so many of you are already using these! So cool to see :) It actually makes me want to go and create them too, haha...<br /><br />In fact, I forwarded this post over to my contact at USAA in hopes they give it some thought. I would be so freakin&#39; elated if they come out with it!!! I can&#39;t be the first one to alert them of it I&#39;m sure. But maybe this blog and all your comments will excite them more ;)<br /><br />Keep the excellent savings up my friends! All really good sub-accounts/real accounts/whatever they are - much easier to deal w/ psychologically I think.J. Moneyhttp://www.blogger.com/profile/11310942434991302826noreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-66362033169592755392010-03-11T18:06:37.827-05:002010-03-11T18:06:37.827-05:00I&#39;ve read about this feature before but didn&#39;t have an idea how to do it. Your post made me jump on my ING account and create my subaccounts.<br /><br />December Fund - for Christmas and 12 birthdays in the family.<br />Emergency Fund<br />College Fund<br />Moving out Fund<br /><br />:Dpiedras platashttp://anapatrishamb.wordpress.comnoreply@blogger.comtag:blogger.com,1999:blog-2593166268215823453.post-24313951371312802192010-03-11T17:34:28.585-05:002010-03-11T17:34:28.585-05:00<i>Rob, glad you got your guest post up! Simple, yet to the point :) </i><br /><br />Thanks, Sam. It&#39;s always nice to hear your warm and animated voice.<br /><br /><i>This is why I think including the full value of stocks in your net worth is dangerous.</i><br /><br />Okay. But just to be clear and complete, I would argue that the opposite is so at times when stocks are greatly undervalued. Say that we go down to a P/E10 value of 7 or 8 sometime over the next five years (as we did in the wake of every other case of insane overvaluation). That would mean that your true portfolio value would be <i>double</i> the nominal value stated at the time.<br /><br />This is a big deal. A drop to 7 would be a loss of nearly two-thirds of the current value of the market (we are today at 20). After a loss of two-thirds on top of the losses people have already experienced, lots of people would be depressed and tempted to sell. The valuation-informed approach would give them good reason not to because it would tell them that only the losses from 20 to 14 (fair value) would be real and that the further losses from 14 to 7 would be only temporary in nature (the most likely annualized 10-year return starting from 7 is 15 percent real!)<br /><br />Taking valuations into consideration changes every aspect of the investing strategy story. It&#39;s not bad for people to be skeptical of new ideas -- that&#39;s healthy and prudent. But I think that people should make more of an effort to consider the far-reaching implications of the ideas that are being put forward. We could be generating lots of good discussions at lots of fine blogs if we all got about the business of exploring this stuff in serious (and fun!) ways.<br /><br />That&#39;s my sincere take, in any event.<br /><br />Don&#39;t be bashful about telling your friends to do what&#39;s right!<br /><br />RobRob Bennetthttp://arichlife.passionsaving.comnoreply@blogger.com