Prospect

Shopper�s Price List

2005-07-06T21:30:57-08:00

A lot of people have a �spending plan� (budget). A lot of people use Quicken to keep track of their investments. But, not many people have a shopper�s price list. A shopper�s price list, what is that? Here is a sample of a shopper�s price list. Date Item Store Price ...

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Seasonal Investing: Congressional Effect

2005-07-05T20:57:48-08:00

Here is an article from CBS Marketwatch on yet another seasonal investing idea, "Congressional Effect". Congressional Effect The stock market dislikes uncertainty. Whether it is a company about to report earnings, a worldly event about to happen half-way around the world, or the government about to pass a law, the ...

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Social Security � How I Will Plan for This

2005-06-21T21:43:11-08:00

Will it be there or will it not be there when I retire? That is the million dollar question. And, by the time that I retire some 30 years from now, the total stream of the social security benefits could total a cool million dollars! Of course, that is assuming ...

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Cousin S�s Wedding

2005-06-20T21:20:49-08:00

Over the weekend, I attended my cousin�s wedding. It was nice. It was nothing overly extravagant. I was told that the bride and groom saved wherever they could. But, it was a very joyous day. I got the chance to see relatives that I haven�t seen in year. I got ...

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Spending Plan (Part 4)

2005-06-14T21:29:33-08:00

Here are some comments about the various categories. The 40% home category may seem high. But, it is right on target. My average tax rate is about 29%. So, 0.71 * 0.40 = 28.4%, is on target with the standard maximum 28% gross income for housing. The 15% food category ...

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Spending Plan (Part 3)

2005-06-13T21:53:26-08:00

Now that I know how much is coming in, I need to allocate it to the various expense categories. I did a search on the subject of �budget�. And I found no shortage of ideas. It just seems like everyone has their own set of rules for budgets. I think ...

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Spending Plan (Part 2)

2005-06-08T21:54:27-08:00

In Part 1, we talked about an accurate way to calculate what was actually coming in. Let�s go through this with some numbers. The hypothetical person is single and makes $50,000 a year. He elects to take the health care deductions and 10% 401k contribution. Use the table to follow ...

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Spending Plan (Part 1)

2005-06-07T22:15:00-08:00

It is called a "Spending Plan". It sounds cooler than a "Budget". Who wants to be on a "Budget" when one can be on a "Spending Plan"? Semantics aside, here is how I went about creating a "Spending Plan". Income I start by looking at how much was coming in ...

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Doughnut Day!

2005-06-02T19:32:23-08:00

Well, here is a little something fun. Today, June 3, is Doughnut Day! If there is a Krispy Kreme store near you, then you are in luck! http://money.cnn.com/services/tickerheadlines/prn/200506010647PR_NEWS_USPR_____NYW070.htm It looks like Doughnut Day was established by the Salvation Army to raise money during the Great Depression and honor the volunteers ...

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�I am 34�.� Option C � Partner Up (Part 3)

2005-06-01T21:42:50-08:00

So, the solution would appear to be to just get hitched. Then, the nagging question is, �What if I never get married?� While it is almost a given for just about every relative, I do not see it that way. I do not plan on marrying someone just so that ...

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�I am 34�.� Option C � Partner Up (Part 2)

2005-05-31T21:13:59-08:00

As I have written in part 1, a modest income homebuyer can get into a very expensive home by teaming-up with someone. This is certainly nothing new. But, it is certainly being used a lot more often these days, particularly, in places like the Bay Area. Take Cousin R for ...

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�I am 34�.� Option C � Partner Up (Part 1)

2005-05-31T00:51:04-08:00

The number of first-time homebuyers who can afford to purchase a median-priced (about $660,000) home in the Bay Area has steadily declined for years. The percentage is now in the teens. Given the high cost of a median-priced home, most first-time homebuyers are forced to look at condos. Let�s run ...

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Fed Debates Pricking the U.S. Housing 'Bubble'

2005-05-31T00:07:04-08:00

An interesting article in the NY Times. You need to be a subscriber (free) to view the entire article. http://www.nytimes.com/2005/05/31/business/31housing.html? So, the question is would you want the Fed to intervene? This isn't exactly like raising/lowering the interest rates to slow-down/accelerate the economy. A "conundrum" indeed.

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Don't Forget To Enjoy Yourself

2005-05-27T00:14:49-08:00

We talk a lot about money. So, this Memorial Day, just go out there and enjoy yourself. Don�t end up like the �vacation stooges� as mentioned in the CNN-Money article. Vacation stooges: Working for free It is hard to imagine that people can be such workaholics! I get just two ...

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Rent vs. Own Newspaper Article

2005-05-22T18:09:04-08:00

From the SF chronicle, here are yet more Rent vs Own stories. http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2005/05/22/REGEJCSG8L1.DTL The interesting tidbit is the approximate rent vs. own breakeven point on their hypothetical example. Renting was assumed to cost 55% of owning. The article says that it takes a home appreciation of just five percent per ...

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�I am 34�� Option B - Other Housing Programs

2005-05-20T00:58:32-08:00

While it would be nice to live in a $600000 home for the cost of a $300000 home, not everyone is going to get the opportunity to live in one of those BMR housing units. For the rest of us, there are other housing programs. The housing programs could be ...

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Home Prices Set Another Record

2005-05-18T19:29:51-08:00

Another month, another record. I don't need to beat the dead horse about housing prices here. So, here is just an updated on the home median prices for single-family homes in the Bay Area. $590,000 Alameda $533,000 Contra Costa $900,000 Marin $555,000 Napa $770,000 San Francisco $785,000 San Mateo $681,000 ...

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Credit Unions � Not Just for �Members Only�

2005-05-17T00:24:00-08:00

Ever thought about joining one of those �members only� credit unions? Well, you just may be able to! If you do not already know, credit union customers enjoy more and better benefits than bank customers. The general reason is that credit unions are non-profit entities while banks are for-profit entities ...

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"I am 34�." Option A - BMR Housing

2005-05-11T21:08:53-08:00

As you already know, home prices in the Bay Area are literally through the roof. It is beyond the reach for most of the local citizens. So, what is the city's solution? BMR Housing. BMR stands for "Below Market Rate". Every new building complex that gets built must have a ...

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Special Rule for Credit Card Purchases

2005-05-09T12:48:51-08:00

On the back of credit card statements, there is a section titled "Special Rule for Credit Card Purchases". It basically says that if you ever have any problems with the product/service and tried to resolve the problem with the merchant but to no avail, then you can dispute the charge ...

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"I am 34 and I still live at home with my parents." - On Living at Home

2005-05-06T12:53:02-08:00

So, what is it like to be 34 and still living at home? In short, it is both good and bad. On the one hand, I am definitely building a nice pool of money for a future down payment on a house. On the other hand, I do not really ...

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10% APY Kids Only Savings Account

2005-05-04T12:11:03-08:00

Well, if you have any children, this may be a great savings vehicle for them. Affinity Bank is offering a 10% APY savings account for children up to 16 years of age. FINE DETAILS. The 10% APY rate is good on the first $500. Anything over $500 gets the regular ...

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Ponzi Scheme 101

2005-05-03T13:41:52-08:00

This is the one that started it all. In 1903 a man by the name of Charles Ponzi discovered a way to make great fortunes. It worked by using the investments of subsequent investors, (as opposed to the profits of the company), to pay the initial investors. The initial investors ...

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CyberRebate - A Lesson Learned

2005-05-03T12:37:59-08:00

One (and there were several) of the things that I learned from the whole CyberRebate saga is that I need to stand up for myself. You could probably say that I was a bit wussy. I did write the credit card company to dispute the charges. But, once they rejected ...

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CyberRebate

2005-04-29T05:22:21-08:00

Today I received the settlement check. It was worth about 8.8 cents on the dollar. In case you have never heard of the company before, CyberRebate was yet another dot-com company that came to life during the Internet era. What attracted everyone to this company was that they were giving ...

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Is Your Local Gas Station Gouging You?

2005-04-29T05:12:15-08:00

Whenever gas prices rocket up like they have over the last month, people evidently would come to me and complain about their local gas station gouging them. Well, in last Sunday's edition of the SF Chronicle, there was an article analyzing gas prices and where the gas money actually goes ...

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More to the Story behind Gift Cards

2005-04-29T01:14:42-08:00

After seeing all of those gift cards for sale on eBay, it made me wondered. One thing that I know about the eBay sellers is that a lot of them are resellers. In another words, they would buy the products at some discounted price from some distributor and then sell ...

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Marginal Tax Rate

2005-04-29T00:18:13-08:00

When I ask someone what their marginal tax rate is, I generally get a blank stare in return. It is one of those topics that are rarely talked about. Yet, it has some potential financial ramifications, particularly, with investments. Here is a basic example. I live in California. My marginal ...

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"I am 34 and I still live at home with my parents."

2005-04-29T00:10:34-08:00

It was not long ago when a grown person said that there was probably something wrong with that person. But, here in the Bay Area, no one blinks an eye. The reason? No one can afford to buy a home in the Bay Area. I do not personally know anyone ...

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Gift Cards for Sale on eBay

2005-04-23T21:20:48-08:00

Imagine shopping at your favorite store and getting an automatic 10% off. This can happen. You may have notice those gift cards on eBay. Are they legit? Can one really buy them for about 90 cents on the dollar? They answer to these questions are yes and yes. The amount ...

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Basic Long-Term Investing Strategy

2005-04-23T20:57:21-08:00

So, now that I have determined my long-term goal, how exactly should I invest my money? Studies have shown that about 90% of the portfolio's return on investment is determined by asset allocation (as opposed to security selection). So, it is more important to determine whether to buy stocks or ...

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Basic Short-Term Investing Strategy

2005-04-23T20:32:09-08:00

So, now that I have determined my short-term goal, how exactly should I invest my money? For those who want to "set it and forget it", invest in a CD that matures at exactly the same time that you will need the money. For others who are willing to do ...

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What Are Your Financial Goals?

2005-04-23T19:32:46-08:00

This is my very first write-up. And, appropriately enough, I write about making goals. When it comes to personal finance, the very first question that any financial planner would ask is, "What are your financial goals?" Why is this important? Well, let's take a look. I have been frequently asked ...

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In the Beginning

2005-04-23T18:13:38-08:00

Hi. And welcome to Prospect's personal finance blog. This blog is going to tell you my story and pass along some personal finance tips. So, how is this going to be any different from any other PF blogs? Read on to find out. I am a 34-year old, first-generation, Asian-American ...

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