Go to Jeff Salisbury LWGate Home Page.From: persfin-digest <owner-persfin-digest@shore.net>
Subject: persfin-digest V4 #78
Date: Thu, 28 Aug 1997 19:52:08 -0400 (EDT)
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persfin-digest Thursday, August 28 1997 Volume 04 : Number 078
IN THIS ISSUE:
ADVERTISEMENT: LAN ACCESS TO MCI MAIL [Oppenheimer Software <Connect-Sal]
MSA's? [gary dunn <garydunn@pullman.com>]
Home buying advice Needed in Westchester/NY Area ["Satish Kethineni <sati]
Re: Where to put $10k short term? [WDStancil@aol.com]
Re: Where to put $10k short term? Another View [David Meyers <dmeyers@pan]
Auto Insurance Question [David Martin <dmartin@seabreeze.hc.ti.com>]
What to Do w/Car Accident [dmak@tma-net.org]
Quicken On-line Bill Paying? ["Schafer, Rick" <schaferr@eng1.otis.com>]
Car purchasing/financing question.. [vemuri@juno.com (Sudhakar Vemuri)]
Loan to invest in IRA -- is interest deductible? ["Narayan S. Raja" <raja]
Questions about Roth IRA ["Narayan S. Raja" <raja@galileo.IFA.Hawaii.Edu>]
Condominium rentals - Grand Traverse Bay, Michigan? [TaxPlanner@aol.com]
Advice - No 401k for three months ["Mark Smith" <msmith@cygnacom.com>]
Value Of Home When Sold Without Agent? [Ken Stone <kstone@pantheon.YALE.E]
Consultant Needed [Vicki Simons <probe@scescape.net>]
TEMPORARY MOVE ABROAD [EGraubart@aol.com]
====================================================================
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----------------------------------------------------------------------
Date: Thu, 28 Aug 1997 19:19:46 -0400 (EDT)
From: Oppenheimer Software <Connect-Sales@mcimail.com>
Subject: ADVERTISEMENT: LAN ACCESS TO MCI MAIL
LAN Access to MCI Mail
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Oppenheimer Software Authorized MCI Messaging Agency
Tel:800-390-9379 E-Mail:Connect-Sales@mcimail.com
Fax:800-492-6862
------------------------------
Date: Thu, 28 Aug 1997 19:23:44 -0400 (EDT)
From: gary dunn <garydunn@pullman.com>
Subject: MSA's?
As a self-employed person, with a high deductible health insurance policy,
I'm thinking of getting a MSA (Medicasl Savings Account). Does anyone have
any info, or where to go, including Web sites, to learn more about MSA's.
I'd appreciate any info. Take care,
Gary Dunn, Publisher
THE CARETAKER GAZETTE
1845 NW Deane St
Pullman, WA 99163 USA
(509) 332-0806
garydunn@pullman.com
http://www.angelfire.com/wa/caretaker
------------------------------
Date: Thu, 28 Aug 1997 19:24:19 -0400 (EDT)
From: "Satish Kethineni <satishk@paul.rutgers.edu>"
Subject: Home buying advice Needed in Westchester/NY Area
Hi all,
I am 25 years old, and I want to buy a 1 bedroom condo/coop
in the Westchester/NY area, any advice from people who have done
similar/related stuff, books to read ?
I am quite overwhelmed... :)
thank you
satish
------------------------------
Date: Thu, 28 Aug 1997 19:25:07 -0400 (EDT)
From: WDStancil@aol.com
Subject: Re: Where to put $10k short term?
> I have $10,000 from a new 10 yr 7.3% equity loan that I expect to need
> next year for school for my son. I have no car loans, no credit card
> debt (ok, the equity loan was for more than $10k), 10 yrs left on a 15
> yr 7.5% first, good income (tho' only one) and several rental
> properties (that are highly leveraged but about breaking even at the
> moment).
>
> The $10k is sitting in my savings account right now -- who has
> suggestions about where to put it, and why?
Since you'll need it soon (next year) and I assume you'll need the
entire $10,000 (no possibility of principal loss) I'd suggest a money-market
fund. Vanguard is my favorite - if you can find one that's waiving its fees
for a year you might do a few basis points better. Why a MM fund?
Checkwriting features - easier to move the money to your son
(or his school) than redeeming a Treasury.
------------------------------
Date: Thu, 28 Aug 1997 19:26:03 -0400 (EDT)
From: David Meyers <dmeyers@panix.com>
Subject: Re: Where to put $10k short term? Another View
Money needed in about a year is _very_ short term. You
probably only want to put it into either a Money Market
Fund, a CD, or, at most, a _very_ short-term bond fund.
Anything else and you have a significant likelihood of
not getting out what you put in - you don't have the time
necessary for riding out rough markets.
- --D
------------------------------
Date: Thu, 28 Aug 1997 19:26:33 -0400 (EDT)
From: David Martin <dmartin@seabreeze.hc.ti.com>
Subject: Auto Insurance Question
I have a question about auto insurance. The insurance company
AIG has recently started selling automobile insurance in my state
(NJ), and it is cheaper than most of the other companies. But since it
is new, the information provided by the state on insurance company
complaints doesn't include AIG. Is there any book, magazine, website,
etc. that provides such information on insurance companies?
On a related note, is there any reason not to switch
automobile insurance companies to get lower rates? I've only
owned/insured a car for 10 months so far, so the rate reductions for
long time policyholders don't apply to me right now.
-David Martin
------------------------------
Date: Thu, 28 Aug 1997 19:27:33 -0400 (EDT)
From: dmak@tma-net.org
Subject: What to Do w/Car Accident
I scraped the bumper of another person's rental car, and don't know
whether to claim insurance or pay myself. I guess the damage to the
rental car is fairly minimal, and there was no damage to my car. My
insurance agent says that the rental company will likely charge
extras such as administrative and a loss-of-use fees, which could run
another couple hundred dollars on top of the repair cost. So I'm
curious as to what point (dollar-level) does it make sense to pay the
damages out of pocket, versus filing an insurance claim. Any ideas?
------------------------------
Date: Thu, 28 Aug 1997 19:27:56 -0400 (EDT)
From: "Schafer, Rick" <schaferr@eng1.otis.com>
Subject: Quicken On-line Bill Paying?
I have been using Quicken's online bill paying for about 9 months now
and love it. For $5.95 they pay up to 20 bills/month. However, I just
got a letter from them yesterday. They have merged with Checkfree
(former competition) and instantly raised the price 67%, to $10/month
for 20 bills. This makes it much more costly than stamps, which
seriously detracts from its benefits I believe.
Anyone else dealing with this? What are you planning to do?
Rick Shafer
------------------------------
Date: Thu, 28 Aug 1997 19:28:57 -0400 (EDT)
From: vemuri@juno.com (Sudhakar Vemuri)
Subject: Car purchasing/financing question..
Hi,
I am in the market to buy 97 Camry LE. I usually find 2 types of deals.
One is sale price which can be negotiated. The other, a ridiculously low
finace rate with little negotiatibility on the price of the car.
My question is - Is it advantageous to go after the dealer offered low
financing if cumulative financing charges are less than my credit union
offered deal. Usually the dealer offered teaser rates are for short terms
like 12 months or 24 months.
For example, $19,360 loan at 7.75% for 24 months will incur $20961.xx on
finance charges with monthly payments of $873.40. If you take loan of
$20341 at 2.9% teaser rate for 24 months, the finannce charges are same.
There is 1,000$ difference in the car price(including 10% CA taxes). Is
it a good strategy to get the price negotiated at some $ above the
regular rate if the dealer is offering the teaser rate. Or there any
catches with this strategy ?
Thanks,
Sudhakar Vemuri
vemuri@juno.com
------------------------------
Date: Thu, 28 Aug 1997 19:29:45 -0400 (EDT)
From: "Narayan S. Raja" <raja@galileo.IFA.Hawaii.Edu>
Subject: Loan to invest in IRA -- is interest deductible?
Aloha! I was wondering if someone would know the
answer to the following question:
If I take a bank loan to fund my IRA, is the interest
tax-deductible (since it is interest on a loan taken
for purposes of investment)?
I already know that investment interest on a tax-exempt
security (such as muni bonds) is NOT deductible. But
an IRA is not tax-exempt, it is merely tax-deferred.
So is the loan interest tax-deductible?
I have read the IRS publication regarding investment interest.
It doesn't answer my question. I also phoned the IRS.
The person whom I spoke to wasn't sure of the answer.
Thanks in advance for your comments!
Best wishes (and Ira, thanks for creating persfin!)
Narayan Sriranga Raja.
------------------------------
Date: Thu, 28 Aug 1997 19:30:12 -0400 (EDT)
From: "Narayan S. Raja" <raja@galileo.IFA.Hawaii.Edu>
Subject: Questions about Roth IRA
Aloha, netters. Some questions about the "Roth IRA" --
1. Is the Roth IRA available IN ADDITION TO a regular IRA,
i.e., can I put $2000 into a regular IRA and then $2000
into a Roth IRA? Or is the total contribution (to both
types of IRA) limited to $2000 per year?
2. Next year, can I "convert" my existing regular IRAs into
Roth IRAs without being subject to the early-withdrawal
penalty? How? Will I have to sell all the securities
and then buy them back again?
3. My regular IRAs were funded entirely using after-tax money.
Will the act of converting them into Roth IRAs require me
to pay any tax? If so, is the entire amount taxable, or
just the amount in excess of my (after-tax) contributions?
Thanks in advance!
Narayan Sriranga Raja.
------------------------------
Date: Thu, 28 Aug 1997 19:30:38 -0400 (EDT)
From: TaxPlanner@aol.com
Subject: Condominium rentals - Grand Traverse Bay, Michigan?
Thank you, Ira (and other contributors), for a very interesting newsletter.
Does anyone on this list know of a one- or two-bedroom condominium in the
Grand Traverse Bay, Michigan area (with either water access or water views)
that is available for a two-week rental in the 1998 summer season?
Please e-mail any responses directly to me.
Thanks.
Edie S.
------------------------------
Date: Thu, 28 Aug 1997 19:32:01 -0400 (EDT)
From: "Mark Smith" <msmith@cygnacom.com>
Subject: Advice - No 401k for three months
Greetings,
I am looking for some advice on what to do in my current
situation. I am changing jobs at the end of the month and won't be
eligible to contribute to my new employer's 401k until January 1998.
In the meantime, I have no tax-deductible retirement plan or
employer-sponsored plan to shelter income from (our income puts us
over the IRA phase-out limits).
What options, if any, do I have for the next three or so months to
get around this problem?? If I can't make any deductible or
sheltered contributions, should I make non-deductible contributions
in a non-deductible or Roth IRA. Variable annuities??
Thanks for the help,
Mark Smith
------------------------------
Date: Thu, 28 Aug 1997 19:33:18 -0400 (EDT)
From: Ken Stone <kstone@pantheon.YALE.EDU>
Subject: Value Of Home When Sold Without Agent?
If a home is sold without an agent then how should the value of the house
be assessed in consideration of the price not including an agent's fee of
6%? If using such a house as a comparison with another house in the
neighborhood, should one add 6% to the sale price?
Ken
------------------------------
Date: Thu, 28 Aug 1997 19:34:00 -0400 (EDT)
From: Vicki Simons <probe@scescape.net>
Subject: Consultant Needed
I'm writing to ask for help on finding information.
I recently learned that a business colleague has
plans to do one of the following within 5 years:
1. go public, or
2. sell the company.
My colleague is looking for a consultant who has
experience performing either or both of these tasks,
by either joining the company or as a third party.
(The procedure must not be performed in a generic
"fill in the blank" way.)
Since I have Internet connections and my colleague
does not, I have been asked to perform screening
on all consultants recommended. If you are, work
for, or personally know of such a consultant, please
send this specific information to me *privately*:
* Contact's Name
* Contact's Company Name
* Contact's E-Mail address
* Contact's URL
* Contact's business phone number.
* Contact's experience/success with this service.
Many thanks in advance.
- --
Vicki Simons mailto:probe@scescape.net http://www.scescape.net/probe
Probe Consultants -- Recovering Refunds for Consumers Every Single Day
------------------------------
Date: Thu, 28 Aug 1997 19:35:21 -0400 (EDT)
From: EGraubart@aol.com
Subject: TEMPORARY MOVE ABROAD
I am in discussions with my company about doing some work for my company in
Germany. My company(EBI Medical Systems/Biomet) has joined into a joint
venture with Merck Ag and they may want me to help train the european
representatives and surgeons on the EBI product line. I will only be there
for a year to 18 months and am wondering what kind of things I should be
concerned about. This question is twofold:
1) cost of living/paychecks/structuring my taxes to get the most
benefit/living arrangements/banking-investing. I would like to keep as much
of my banking in the U.S. as possible. 2) personnal worries-- where to
live/language/travel within Europe
Is there a book you can recommend or a consultant I can touch base with that
can help me make the most of the opportunity with as little hassle as
possible
Thank you in advance
Ed Graubart
215-361-7310 home #
egraubart@aol.com
------------------------------
End of persfin-digest V4 #78
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