Go to Jeff Salisbury LWGate Home Page.From: persfin-digest <owner-persfin-digest@shore.net>
Subject: persfin-digest V4 #15
Date: Tue, 1 Apr 1997 11:19:26 -0500 (EST)
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persfin-digest Tuesday, April 1 1997 Volume 04 : Number 015
IN THIS ISSUE:
ADVERTISEMENT: domain TNG [Oppenheimer Software <Connect-Sales@mcimail.c]
Stocks I'd Like To Buy 1 Share Of [kristina@net.com (Kristina Miranda)]
W4 And Tax Penalties [vemuri@informix.com (Sudhakar Vemuri)]
How I Decide When To Sell [vemuri@informix.com (Sudhakar Vemuri)]
NASDAQ Quotes on Good Friday [makd@FRB.GOV]
Response to "Home business looking for health insurance?" - NASE [Brennan]
NY Condo Apt Owner's Insurance Pointers/Tips? ["David W. Vaughan" <david_]
When to Buy Stocks: BEFORE or AFTER Split? ["Mary M. Thompson" <mt@shore.]
Re: Late Estimated Taxes [FW & SC <kafer@crl.com>]
The Dogs of the Dow make great DRiPs [Jim BEAVENS Heather Beavens <beaven]
Re: mortgage loan types: fixed Vs ARM, bank vs mortgage company [Rich Car]
Not for Profit 501(c)(3) question [DBONWEB@aol.com]
Re: Free Web Site for Financial Reports on AMEX/NASDAQ Companies? [hrj@ju]
Re: Quickbooks vs. Quicken - I Went With Quicken [bonsai@world.std.com]
Re: Options books [David Neal <dneal@gnupln8.gnuplanet.com>]
Marginal Tax Rate? ["Peter Diamond" <diamond@vsi.net>]
US Divorce Rate Is Misstated [0500101@ACAD.NWMISSOURI.EDU]
Re: mortgage loan types: fixed Vs ARM, bank vs mortgage company ["L. Chen]
RE: Direct Win95 Computer-to-Computer Connection ["Raphael Johnson" <rjoh]
Gazarelli Final Chapter [Stephen Brodeur <sbrodeur@draper.com>]
Re: Recording Mileage for IRS [georgene@psyberlink.net (Georgene Harkness]
Emergency fund location? [Michael Remily <remily@open.org>]
Anyone Affected by Global Financial Traders? [addepall@csrc1.ctc.com (Add]
Lawyers Made My Father In Law's Estate a Complete Disaster ["Burke, Cec E]
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----------------------------------------------------------------------
Date: Tue, 1 Apr 1997 10:17:36 -0500 (EST)
From: Oppenheimer Software <Connect-Sales@mcimail.com>
Subject: ADVERTISEMENT: domain TNG
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------------------------------
Date: Tue, 1 Apr 1997 10:20:35 -0500 (EST)
From: kristina@net.com (Kristina Miranda)
Subject: Stocks I'd Like To Buy 1 Share Of
Okay, I know Ira has suggested a forum for this stuff before but I don't
think it ever got anywhere so I'm just going to start the ball rolling
and ask for help!
I've hesitated long enough but now I'm ready to start buying one share of
some stocks. Anyone interested in selling me one of their shares for a
*small* profit. I have no idea what is involved with transferring ownership
of a share and i guess it depends on each company's policy but if you
are interested I'll do the research. Okay here's my list:
Snap-on Inc (sna)
RJR Nabisco (rn)
Procter & Gamble (pg)
PepsiCo (pep)
Nestle S.A. (nsrgy)
Motorola (mot)
Dayton Hudson Corp (dh)
Coca-cola (ko)
Airtouch Comm. (ati)
Volvo (??)
Wrigley (wwy)
Microsoft (do they have a drip?)
Hershey Foods (hsy)
Obviously, I like to buy consumer product stocks.
btw, if there is any reason why I should not buy any of these stocks, please
let me know ;-)
Thanks so much,
Kristina@net.com
------------------------------
Date: Tue, 1 Apr 1997 10:23:07 -0500 (EST)
From: vemuri@informix.com (Sudhakar Vemuri)
Subject: W4 And Tax Penalties
Hi,
My wife started working in the last 3 months of 1996 and will work fulltime.
I have a question on W4 or tax penalties.
As long as one witholds last year's tax bill, you will not tax penalties.
Is my logic correct ? Can I forget the W4 computation that I got from my
tax software, TaxCut (got for 10$, later went on sale for 5$).
Since my wife worked part of 1996 and she is going to work full this year,
there will be hefty tax bill if we withhold only last year's tax bill.
Thanks,
Vemuri
(Editor's Question - Did your wife work as an employee? If so, she had
taxes withheld, which should be sufficient to cover the bill. If she
worked as a Schedule C contractor then you need to pay estimated taxes
quarterly. -IK)
------------------------------
Date: Tue, 1 Apr 1997 10:24:26 -0500 (EST)
From: vemuri@informix.com (Sudhakar Vemuri)
Subject: How I Decide When To Sell
Hi,
I follow the guidelines for review to sell :
1. Target Price (A price you won't buy it)
2. Target Time (A reasonable time horizon)
3. Change of direction/market conditions
4. A great opporunity to buy another stock which is a better value.
If I followed the same principle, I would not have sold CSCO at 13$ which
I got at 10$. As a rookie in stock market 30% return was better than my
savings ac 2%.
I am happy that I did not dump INTC which I got at 30, 2 1/2 years ago. I
could not find a better stock than that and continued to hold. Same thing
with MRK which I got at 31.
I made a disastrous decisions with MOT and T.
BTW, I owe some sucess to friends like you who shared their information in
the similar forums.
Vemuri
------------------------------
Date: Tue, 1 Apr 1997 10:26:27 -0500 (EST)
From: makd@FRB.GOV
Subject: NASDAQ Quotes on Good Friday
I was tinkering with the DATEK real-time quote system on Good Friday
(when the markets were closed) and noticed that the big NASDAQ stocks
(like MSFT, INTC) appeared to be trading. It would update last trades
and volumes constantly and looked like it stopped at around noon.
Does anyone know what's going on here?
(Editor's Question - Aren't NASDAQ stocks traded by market makers? If
NASDAQ is just a clearing house, then any market maker can make a trade at
any time, as long as there are available buyers and sellers. -IK)
------------------------------
Date: Tue, 1 Apr 1997 10:27:41 -0500 (EST)
From: Brennan Dell <Brennan_Dell@dell.com>
Subject: Response to "Home business looking for health insurance?" - NASE
alkon@hal-pc.org wrote about finding insurance:
My advice:
My wife-to-be, age 34 non-smoker, works as an independent translator
from our home and we went through this a couple of years ago. We
learned from some other self-employed friends that a national
organization called Association of Self-Employed professionals (ASE)
offered the best deal for us. She pays approx. $70 for basic health
insurance per month. This only covers "catastrophic"-type things
however she has used it on a couple of minor trips to the ER and had
them handle it.
This was the best deal we found but may not meet your needs. I'm
looking forward to our marriage so she can get full coverage through
my employer--a good incentive if I needed another one :)
Brennan Dell
Austin, TX
------------------------------
Date: Tue, 1 Apr 1997 10:31:18 -0500 (EST)
From: "David W. Vaughan" <david_vaughan@ibm.net>
Subject: NY Condo Apt Owner's Insurance Pointers/Tips?
Hi folks!
I've just purchased a condo apt on the 18th floor of a 20 floor, 400+
unit early 1960s brick construction condo building on Manhattan's Upper
West Side (10025-5854 zip, fire and police stations one block away), with
twin elevators and twin fire escapes to each flr, and am seeking
tips/pointers on arranging condo owners insurance.
As I begin my research the following comments and questions come to mind
(numbered to make reply easier):
1. INSURER: Both Consumer Reports (Oct 93 survey seems to be latest on
this subject) and the NYS Insurance Dept brochure "Consumers Shopping
Guide for Homeowners & Tenants Insurance" (helpfully partially reproduced
online at http://www.insure.com/, the Insurance News Network) have given
me a good start here - though pointers to any other useful (especially
online) info sources are welcome. Amica Mutual Insurance seems a terrific
company and due to its mutual structure apparently even pays dividends on
premiums depending on annual in-state profitability of that insurance
line - so any feedback from Amica policyholders (past or present) would
be very welcome. Further, does one need to be recommended by a current
Amica policyholder before one's app will be considered by the Company -
and if yes, are there any Amica policyholders out there who would be
willing to recommend me?
2. INSURANCE:
A. Type: Is HO-6 (Condo/Co-Op Owners Policy) which I understand provides
personal property, liability and (17?) named perils coverage,
supplemented with an endorsement for the value of the renovations we had
done before move-in (with the rest of the unit's value apparently insured
under the condo association's building-wide insurance) and
riders/endorsements for any individual items where the policy's "blanket"
coverage might fall short (e.g., an expensive jacket, computer equipment,
an original painting, rugs and Italian clothes) the best type of policy
for my situation? Must I ask to see the Condo Association's policy to
check it for any particular items (see further thoughts on this below)?
Is it worth paying extra to gain so-called "all risks" cover (where ALL
risks are covered except any specifically excluded in the contract's
wording; I guess this is a so-called HO-3 policy?) I imagine that the
greatest risks I face here are water leakage (from apts above), theft and
perhaps lightning induced destruction of computer gear as well as
accidental breakage/spillage (on rugs, pc etc.). Would each of these be
covered under a typical HO-6? HO-3?
B. Premium-reduction measures: Are there any measures we can take to
lower premiums (eg., we already have installed a smoke detector) and we
do not smoke or permit any visitors to smoke in the apt?
C. Offsite household Items covered: Two thoughts here: Will such a policy
also cover some household items (too big for current apt) stored in an
off-site commercial storage company's self-storage locker? And what if I
have my laptop, it's expensive carrybag and portable printer goes missing
while I'm outside the house (eg., in rented car, on plane trip etc)?
D. Potential future refinancing: To achieve a quick closing I did not
finance the apt and will arrange insurance for it now but might
(re)finance the apt later - when understand mortgage lenders will indeed
require such insurance. Accordingly, are there any special requirements
on the type/nature/terms etc., of the condo insurance that I arrange on
my own now if I want it to be acceptable to potential mortgage lenders in
the future?
E. Personal property coverage - How much & Replacement Value: I'm
currently going thru the discipline of compiling a written inventory,
complete with serial numbers/models and historical price paid for major
items (and am astounded by the total value of the items that we've
cataloged so far) and may take photos/video of some items. But how do we
establish the appropriate _amount_ of PP coverage: should we base it on
total historical cost of such property or on its estimated replacement
value - as I plan to pay extra for replacement value (as opposed to the
normal depreciated cash value) coverage? And even with replacement value
coverage, is there some overall cap on personal property coverage
relative to the policy's insured value of the apt (eg., I've seen figures
of 50 or 75% quoted - which wouldn't seem to make much sense to me, in
the case of condo apts- as opposed to freestanding homes)?
F. Inflation-adjusted insured value policy: Again, given that I have a
condo apt, with most of the value of the apt (ex the value of the
renovations that we had done to the apt ourselves) insured under the
condo association's building-wide insurance policy, does this question
not really apply to my individual policy (where my personal property will
be covered against inflation by insuring it for replacement value) but if
at all, to the condo association's policy - which I should then check to
see if it contains such inflation guard clause? (What if it doesn't, what
options do I have: encourage the Board to upgrade its policy?)
G. Rebuilding to current building codes: And is another issue to check in
the building's policy whether it provides coverage for any increased cost
of rebuilding to meet any more stringent building codes that came/come
into force after the building was constructed, costs which I understand
would not be covered under even an inflation-adjusted insurance policy on
the building? (Again, what options do I have if the building's policy
doesn't currently contain this protection?)
H. How much (general) liability coverage: How do I go about calculating
what is appropriate - the companies I've checked with so far seem to
offer between $300,000 & $500,000 - or indeed if an additional so-called
"umbrella" liability policy is needed? We don't own a car, don't have our
own ("named non-owner") car insurance but do drive rental cars every now
and then (usually renting in NY where additional charges for CDW are not
permitted), usually declining all supplemental coverages, relying instead
on the renter's insurance provided under our AMEX gold card (the fine
print of which advises that it covers only the car's repair or
replacement value and does not cover our liability in the case of damages
to another vehicle and/or injuries to its occupant(s)).
I. Appropriate deductible: As I view this insurance as covering major
catastrophes such as a robbery, I plan to take a fairly hi deductible
(min $250 but perhaps up to $1000), especially if it results in a
significant reduction in premiums. Is this the correct view to take?
Once again, thks for any pointers/issues/war stories!
Best! /dwv
PS. I've also posted this message in the misc.industry.insurance
newsgroup and will share any wisdom I receive there with the group here,
if there's interest here in this subject.
------------------------------
Date: Tue, 1 Apr 1997 10:32:09 -0500 (EST)
From: "Mary M. Thompson" <mt@shore.intercom.net>
Subject: When to Buy Stocks: BEFORE or AFTER Split?
When an announcement of a split of a stock that is on ones "consider to buy
list" , is it better to rush out and buy it before the split or should you
wait until shortly after the split is made and buy when the price of shares
is down? In the first situation, you're paying more per share but will soon
have twice as many shares (if its at 2:1 split) and you're hoping that they
will increase in value real soon. In the latter instance, you're betting
that the lower price will allow you to buy more shares. Is this a 6 in one
hand, 1/2 dozen in the other call?
Mary T.
------------------------------
Date: Tue, 1 Apr 1997 10:33:06 -0500 (EST)
From: FW & SC <kafer@crl.com>
Subject: Re: Late Estimated Taxes
>From: "Peter Staecker" <staeckep@macom.com>
>
> Last month I found that we did not send in our second payment of
> estimated tax to IRS - so we sent it in - over 6 months late. How do
> we report this blunder to figure the additional interest/penalty
> involved?
>
> Peter
Peter --
Easy. Use Form 2210. Titled "Underpayment of Estimated Taxes." Follow
directions carefully. If you use the "annualized income" method of figuring
taxes due, in typical government logic, the form takes you from page 1 to
page 3 and back to page 2. Read the form "line-by-line". Enter your
estimated tax payments when you actually made them. On page two, you figure
the penalty for each quarter of underpayment and add up all the quarterly
underpayments top get to the total. If you have a tax filing program, such
a Personal Tax Edge or Turbo-Tax or Simply Tax, it will walk you through
the calculations.
Frank
(Volunteer Tax-Aide for the Elderly, AARP/IRS, not a paid preparer.)
------------------------------
Date: Tue, 1 Apr 1997 10:38:52 -0500 (EST)
From: Jim BEAVENS Heather Beavens <beavens@teleport.com>
Subject: The Dogs of the Dow make great DRiPs
>I think DRIPs are great for LONG TERM buy and hold purchases, not for
>yearly turnover stocks as in the Dow Dogs.
It's true that setting up the DRiPs can be more expensive. However this
is true for any situation where you're starting out with nothing and want
to contribute money every month to the stock market without going through
mutual funds. DRiPs are an excellent way to do this using Optional Cash
Payments (OCPs). And with the very-deep discount brokers popping up
everywhere, it's getting less expensive all the time.
The Dow high yielders work great using DRiPs. You don't need to buy a
share of all the Dow stocks, only the top 10 plus however many above this
that have yields close to the 10th spot (in case price changes cause
frequent shuffling in the rankings). Over time you can start DRiPs in the
rest of the Dow stocks one or two at a time.
Once you have the DRiPs set up and are ready to start making your
payments, every month you pick the Dow high yielders that satisfy the
criteria for the particular "Dogs" variant you're following and send in
the OCP for each stock. By doing this every month, you effectively set up
12 miniature portfolios containing Dow high-yielders.
At the same time you do this, you review the stocks you're currtly
holding, and sell any that you haven't bought within the last year. This
applies the "hold for one year" concept. Of course you still keep one
share in the DRiP so you can buy shares again if the stock drops down into
the high-yielders again.
Another inherent advantage of this is that high-yielders, by their very
definition, usually have high dividend payments, and with DRiPs this money
is put to work for you right away.
Yes, it can be a bit of a pain to start, and your buy and sell dates
won't conform to the exact yearly specifications outlined by the
high-yield approach, but it's pretty close. If you're not starting out
with much this is a great way to get started in the market.
Jim
P.S. This was outlined in the Motley Fool a few months back:
http://www.fool.com/frib/96archive/fra_1031.htm
------------------------------
Date: Tue, 1 Apr 1997 10:39:49 -0500 (EST)
From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: mortgage loan types: fixed Vs ARM, bank vs mortgage company
>7.0%), then I will change my policy. I do have one question: is it any
>disadvantage of refinancing too often besides time?
Well, to me time is a biggie. While it's true you're getting the
interest rate down, you're in effect holding the mortgage at a
perpetual 30 year term (assuming you are re-financing to a 30-yr
mortgage each time). This may not matter much for a year or two, but
I think you'll ultimately be chagrined to be 10 years down the road
and still with a 30-year mortgage instead of only having 20 years left
to go.
Rich Carreiro
rlcarr@animato.pn.com
------------------------------
Date: Tue, 1 Apr 1997 10:40:18 -0500 (EST)
From: DBONWEB@aol.com
Subject: Not for Profit 501(c)(3) question
I have a business acquaintance that wants to put together a real estate
finance deal on a large apartment complex ($5,000,000) where he obtains the
bond financing fee and I become the owner using a not-for-profit 501(c)(3)
set up. He said the only real benefit I would get is the management fee in
managing the property and the "control". He said it will add to my
credibility with S&P on future deals we do together. The guy is upfront and
honest and I trust him, but my CPA has no idea how to cash out of such a
transaction if at all.
What happens for example when the property is fully paid for? What do you do
with the money? As the years pass and you start building up "excess cash",
what in the world can you do with it? Any help or suggestions of who to
discuss this with is appreciated.
David W. Bolick (DBONWEB@aol.com)
------------------------------
Date: Tue, 1 Apr 1997 10:41:18 -0500 (EST)
From: hrj@juno.com (Harold R Justice)
Subject: Re: Free Web Site for Financial Reports on AMEX/NASDAQ Companies?
BobWo writes:
From: BobWo@aol.com
Subject: Free Web Site for Financial Reports on AMEX/NASDAQ Companies?
I'm looking for a free web site that will give a concise financial report
on a listed (AMEX or Nasdaq) company, similar to the Morningstar reports;
Morningstar does not list the securities I'm interested in.
Try Wallstreet Research Net at www.wsrn.com
This is the best free web site for stock research I have found.
Harold Justice
------------------------------
Date: Tue, 1 Apr 1997 10:42:35 -0500 (EST)
From: bonsai@world.std.com
Subject: Re: Quickbooks vs. Quicken - I Went With Quicken
Our Narrator wrote:
>(Bonnie, a financial novice, wanted to compare Quickbooks and Quicken)
I loved this ;-) It reminds me of those moments (I hope) we all have when,
just walking down the street or whatever, you feel like you're in a
movie... ;-)
Thanks to everyone who gave me advice about software! I actually ended up
with a free legal copy of Quicken 5 so I'm using that, and it is perfectly
adequte to my needs right now. Now, if I could only find some software that
transmits plausible-yet-vaporous *money* directly into my bank accounts....
;-)
Bonnie
------------------------------
Date: Tue, 1 Apr 1997 10:44:07 -0500 (EST)
From: David Neal <dneal@gnupln8.gnuplanet.com>
Subject: Re: Options books
Ironfoot@dorsai.org asked about options books.
First, before you spend any money peruse the Chicago Board of Trade
(CBOT), www.cbot.com and the Chicago Mercantile Exchange (CME),
www.cme.com which both have free information online and available
via mail. In fact I recently saw an advertisement from the CME
in Investor's Business Daily offering a free video.
After that, you either want to get John C. Hull's book
"Introduction to Futures and Options Markets" or "Options, Futures,
and Other Derivatives Markets" also by Hull.
Another fine book is "Options on Futures" by Ronald J. Frost.
Both of these books are at work, but I found by searching at
amazon.com and I suggest you do the same.
Also, you have misc.invest.futures and misc.invest.options which
are usenet groups that discuss futures and options on futures,
and options in general respectively.
You did not say what kind of options you are interested in,
but these books will cover options on equities, options on
indexes and options on futures. The pricing models and trading
strategies overlap almost 100% for these items.
Good luck with your search.
------------------------------
Date: Tue, 1 Apr 1997 10:47:12 -0500 (EST)
From: "Peter Diamond" <diamond@vsi.net>
Subject: Marginal Tax Rate?
Hello everyone,
I have been working on my taxes and noticed Ira's comment about "marginal
tax rate". I am a bit confused about what this phrase means. I thought
it meant the taxes you actually pay as a percentage of your total income.
total $ in taxes paid / total income $ = marginal tax rate %
Why are all the tax references in investing made at your highest rate
since not all your dollars are taxed at that rate? We are in the 28%
bracket, but using our 1996 return, the total tax owed is only 12% of our
AGI. Isn't this the "real" rate my investments are taxed at? Even if
you calculate the tax against our "taxable income", it is only 17%, not
28%.
Does this imply that my capital gains rate is 12%?
Am I missing something here?
Peter Diamond
(Editor's Comment - As I understand it, it's the rate that the *next*
dollar will be taxed at. The tax rates are tiered, so your total
percentage of tax will be lower. -IK)
------------------------------
Date: Tue, 1 Apr 1997 11:03:57 -0500 (EST)
From: 0500101@ACAD.NWMISSOURI.EDU
Subject: US Divorce Rate Is Misstated
>
> The U.S. has one of the highest divorce rates in the world --
>approximately 50% of marriages end in divorce. There are many lawyers
This is an often quoted figure, with no basis in fact. The actual divorce
rate is probably much closer to 10% than it is to 50%. The 50% figure is
determined by taking the number of divorces in a year, and dividing by the
number of marriages _created_ in a year. The proper divisor should be the
number of marriages that existed. Unless a couple was both married and
divorced in the same year, there is a problem here.
Terry
------------------------------
Date: Tue, 1 Apr 1997 11:04:49 -0500 (EST)
From: "L. Chen" <am302@FreeNet.Buffalo.EDU>
Subject: Re: mortgage loan types: fixed Vs ARM, bank vs mortgage company
> The route I take is to have 1 year ARM and I plan to refinance every year for
> the same program. I try to shop for no point no cost. I find in most cases
> the first year's rate for 1 year ARM is lower than the rates for 7 year fix or
> 5 year fix. The only drawback is to refinance every year. Of course, if the
a 1-yr ARM does not mean the mortgage needs to be refinanced every year.
What it does mean is that the interest rate will be adjusted every year.
It should be in your mortgage document as to which index determines the
new rate. Of course, if you believe a new mortgage at a promotional rate
would be lower than what your adjusted rate would be, you can go through
all the paper work for a new mortgage.
Lily Chen
am302@freenet.buffalo.edu
------------------------------
Date: Tue, 1 Apr 1997 11:07:04 -0500 (EST)
From: "Raphael Johnson" <rjohntwo@ix.netcom.com>
Subject: RE: Direct Win95 Computer-to-Computer Connection
(computer backup discussion)
_______
It should also be noted that Win95 has direct cable connection capabilities
that come as part of the software and allow two computers to share
information. One is set up as the host, and the other is the guest. Once
connected, it's simple to copy from one computer to the other. The only
cost is a rather inexpensive cable, that can be purchased at almost any
computer store.
- --Raphael Johnson
------------------------------
Date: Tue, 1 Apr 1997 11:08:46 -0500 (EST)
From: Stephen Brodeur <sbrodeur@draper.com>
Subject: Gazarelli Final Chapter
I wrote to request my full refund within the 90 day trial period, and
followed up two weeks later with a phone call to their customer service
department. The written request was sent late January. When the credit did
not make my January billing statement, I phoned on February 11. Refund was
posted to my charge card on 2/27.
- -Steve Brodeur
------------------------------
Date: Tue, 1 Apr 1997 11:10:29 -0500 (EST)
From: georgene@psyberlink.net (Georgene Harkness)
Subject: Re: Recording Mileage for IRS
>My question is: Can I just keep a record of the date, reason for travel and
>*number of miles driven*? Or, do I need to keep track of the starting and
>ending odometer readings every time as well?
An IRS agent explained it to me this way: If you make several trips
to the same place, you should record beginning and ending odometer
readings for, say, three trips. Then, on future trips you can
indicate the destination and refer back to this mileage calculation.
Of course, on trips to different places, you will want to record
beginning and ending odometer readings every time.
Now, I'm not saying you couldn't get away with just listing the
mileage, but the reason for keeping records anyway is to 1) give
yourself a basis for a tax deduction and 2) be able to justify these
deductions should the IRS ask questions. The more complete and
accurate your records, the less trouble you will have at audit time.
Why take a chance on cheating yourself out of legitimate deductions?
It's just not that hard to do.
I do agree with you, however, that I probably would not keep all the
other records if I knew for sure I was going with the mileage
deduction.
------------------------------
Date: Tue, 1 Apr 1997 11:12:07 -0500 (EST)
From: Michael Remily <remily@open.org>
Subject: Emergency fund location?
We're currently building our emergency fund and hope to have it completely
established by August 1997. We plan on keeping 50% of it in a moneymarket
fund - low interest but easily accesible.
We were thinking of keeping the other 50% in Treasury Bills ( no state taxes
- -- currently 9%). We were planning on rotating the bills to come due at
1-2-3-4-and 5 years. So within one year we will always have one coming
due... and closer to maturation if we must dip into them.
Is this sound or is there a better place to put this money?
TIA.
Mike and Shannon
(Editor's Question - Is this insurance against job loss or disability, or
do you have a more specific purpose for the money? -IK)
------------------------------
Date: Tue, 1 Apr 1997 11:13:21 -0500 (EST)
From: addepall@csrc1.ctc.com (Addepall, Krishna)
Subject: Anyone Affected by Global Financial Traders?
Hi fellow readers:
I would like to get in touch with people who were dealing with
Global Financial Traders. They were publishing a securities
newsletter. Recently they got into some trouble with SEC, they
have stopped sending the newsletter and are not available over
the phone.
I would like to get in touch with people affected by them and
stay informed of any developments.
Thanks much for reading this.
KA
------------------------------
Date: Tue, 1 Apr 1997 11:15:11 -0500 (EST)
From: "Burke, Cec EXEC" <CBURKE@tbw.gov.nf.ca>
Subject: Lawyers Made My Father In Law's Estate a Complete Disaster
>>(Editor's Question - Is the possibility of emotional distress enough of a
>>reason not to be an executor? I see being an executor as honoring the
>>deceased by helping to carry out their last wishes. That would turn the
>>lawyer's argument on its head because only someone who was emotionally
>>involved with the deceased would understand their last wishes completely.
>>- -IK)
Ira,
I agree wholeheartedly. I wish that I could have said that to my
father-in-law before his death. Unfortunately, he was like many other
people who believe the advice of a lawyer (or any other professional) to
be gospel and should be followed without question. In this case the end
result was a complete disaster.
Cec
------------------------------
End of persfin-digest V4 #15
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