Go to Jeff Salisbury LWGate Home Page.From: persfin-digest <owner-persfin-digest@shore.net>
Subject: persfin-digest V4 #84
Date: Fri, 19 Sep 1997 19:00:30 -0400 (EDT)
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persfin-digest Friday, September 19 1997 Volume 04 : Number 084
IN THIS ISSUE:
ADVERTISEMENT: LAN ACCESS TO MCI MAIL [Oppenheimer Software <Connect-Sal]
Email while traveling [colston@viagrafix.com (Lloyd Colston)]
RE: need resource data on asset class returns ["Billy Barrington" <bbarri]
re: New Tax Law/Question on Precious Metals Capital Gains? ["Steven M. Fo]
re:New Tax Law/Questions on real estate capital gains? ["Steven M. Foulks]
How can my sister rescue her 401k money? [Jim & Sue Richmond <richmond@in]
Re: E-mail while traveling? ["Alan E. Hersh" <CyberWiz@web-site.com>]
Re: Books on Asset Class Returns ["Robert Hartwig"<Robert_Hartwig@swissr]
re: bill-pay services ["pmgp" <pmgp@ccgate.kastle.com>]
Mutual fund Calculations Web Site? ["Jackson, Anthony D." <JacksAD1@centr]
Re: need resource data on asset class returns [Rich Carreiro <rlcarr@anim]
Re: Stockbrokers-Are They REALLY needed? [Rich Carreiro <rlcarr@animato.p]
Re: Stockbrokers-Are They REALLY needed? ["Louis J. Schwarz, CFP, RFC" <s]
Re: Receiving Email on the Road [Jim_Shoenfelt@USFG.COM]
Re: Using a Computer Bill Paying Service [David Meyers <dmeyers@panix.com]
Re: Renter's Insurance [dmak@tma-net.org]
new tax law: gain on sale of a home ["Dalmia, Bipin K." <DALMIABK@phibred]
Do you have any advice on shrinking or eliminating debt? [Jason Wayne <j]
Re: My Old Car [ravic@sdt.com (Ravi P Chivukula)]
U.S. Filter? [mabrams@santafe.cc.fl.us]
Re: Email when traveling [Kumar Verma <vermak@ven.com>]
New Tax Relief Questions [bigelowr@ix.netcom.com]
PMI Mortgatge Insurance - How To Avoid? [trp@sprynet.com]
Re: Life Insurance Trust? [jleipol <jleipol@ibm.net>]
Re: recommendations for Toll-Free service [jleipol <jleipol@ibm.net>]
Re: Renters Insurance Question [dulnev@jhu.edu (Jason Dulnev)]
Re: Interactive Investment tech fund [eric <eric_marcus@compuserve.com>]
Questionable financial planner practice [Bill Moriarty <bmoriarty@cat2.co]
women's investment club video [JSulser462@aol.com]
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Date: Fri, 19 Sep 1997 18:27:38 -0400 (EDT)
From: Oppenheimer Software <Connect-Sales@mcimail.com>
Subject: ADVERTISEMENT: LAN ACCESS TO MCI MAIL
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------------------------------
Date: Fri, 19 Sep 1997 18:29:22 -0400 (EDT)
From: colston@viagrafix.com (Lloyd Colston)
Subject: Email while traveling
Without a laptop, you have a number of other options. You mention a
PDA. The HP200LX will run NetTamer. NetTamer is a DOS program that
allows you to use email, FTP, news, www and telnet from a palmtop. I
have it on my DOS 640K RAM 286 laptop. I can set it to make a mail run
when I am on the road, for example, while I am taking my morning shower
in the motel room. It allows any use of Compuserve, AOL, Delphi, etc.
that offers a PPP account.
Another option, though IMO not so handy, is the cybercafe and public
libaries that offer internet access. I can pop into them and go to
http://www.hotmail.com where I can read my email at my account there or
check my POP mail accounts that can be accessed from there.
Let me know how more I can help.
- --
Lloyd Colston Excellence is not an accident.
Pryor, OK USA social worker, writer, editor
KC5FM Home page http://www.viagrafix.com/colston
Auto-responder mailto:kc5fm-info@freeyellow.com
(Editor's Comment: Wholesale Products, our advertiser, sells the HP200LX,
as well as the 320LX (a Windows CE based PDA). They're at:
http://www.wholesaleproducts.com
- -IK)
------------------------------
Date: Fri, 19 Sep 1997 18:29:56 -0400 (EDT)
From: "Billy Barrington" <bbarrington@poboxes.com>
Subject: RE: need resource data on asset class returns
> Can anyone direct me to some resources? I am trying to locate a source
> or sources of historical annual returns on asset classes from 1926 -
> 1996. By asset classes I mean large, mid and small company stocks,
> government bonds, index funds, bonds, etc. I want the data in a table
> format on a year by year basis. I can use books, the Internet or
> software. Is there one source that is all inclusive for all asset
> classes? Thanks.
I haven't verified it will meet all your specifications, but check
out...
http://www.globalfindata.com/
And look under the free section "SAMPLE DATA SERIES". There is an
enormous amount of quality data along the lines you are seeking.
Billy Barrington
Houston,Texas
------------------------------
Date: Fri, 19 Sep 1997 18:31:09 -0400 (EDT)
From: "Steven M. Foulks" <sfoulks@nmu.edu>
Subject: re: New Tax Law/Question on Precious Metals Capital Gains?
*From: koyn <koyn@fastrans.net>
*Subject: New Tax Law/Question on Precious Metals Capital Gains?
*I am wondering how the new tax law just passed handles capital gains on
*precious metals (coins/bullion)? Do these qualify for the lowered 8%-20%
*maximum cap gains rate? Would coins be considered collectibles (28%
*rate)? What requirements would gold/silver coins need to meet to not be
*considered a collectible, if there are conditions on when they are
*considered to be a collectible? Is the 28% rate on collectibles limited
*by a person's tax bracket? E.g. if a person is in the 15% bracket, would
*a 15% rate apply?
Basically the definition of collectible you are looking for includes all
"non business use" hard assets as opposed to securities. Collectibles will
be subject to the 28% maximum tax rate. They will not benefit from the
20%, 18%, or 10% rates. 28% would be the maximum rate that you would pay
on these long term capital gains. If you are in a lower marginal tax rate,
then you will pay taxes at the lower rate.
How to get around the rule...Invest in companies that hold the collectible
that you desire, or if you are really aggressive, form your own company
(s-corp. or some form of partnership) and them buy all of the
corp./partnership's ownership equity and let the corp/partnership buy the
collectibles. I wouldn't recommend this because it would rightly be
considered a tax sham.
Steven M. Foulks, CPA, CFP, PhD
Professor of Accounting & Finance
Northern Michigan University
www.nmu.edu/instruct/business/sfoulks/
------------------------------
Date: Fri, 19 Sep 1997 18:32:18 -0400 (EDT)
From: "Steven M. Foulks" <sfoulks@nmu.edu>
Subject: re:New Tax Law/Questions on real estate capital gains?
*Subject: New Tax Law/Questions on real estate capital gains?
*I understand that the new tax law just passed reduces the capital gains
*rate on real estate to the 8-20% range. However, it I heard that that
*portion of gain attributable to prior depreciation would be subject to a
*25% rate (recapture).
In any practical sense your first answer is not true unless you are talking
about real estate held as a speculation (i.e., raw land, improved real
estate held only for price appreciation). Sales of your personal
residence will probably not be subject to any taxation if you comply with
the rules to get the $250,000 single, or $500,000 married couple capital
gain exclusion. The 25% rate you are talking about applies 1250 property
which includes real estate "used" in a business (Sec. 162 property) or held
for the production income not in a business (Sec. 212 property).
Your notion of recapture is incorrect. The amount of depreciation
recaptured under Sec. 1250 is subject to the maximum tax rate of the
taxpaying entity, which could be 39.6% for an individual, not 25%. It is
only the portion of the Sec.1231 gain on the sale of the asset, if any,
that is subject to the 25% rate. Due to the nature of the Sec. 1231
netting process, none of it may be eligible for the special 25% rate
I have left a lot of explanation of terms out of my little story. I don't
think Ira would appreciate the full explanation that I use in my tax
classes. This is a rather complex issue to say the least.
*Does this 25% rate apply, if the tax payer is in the 15% bracket? Or
*would the recapture portion be at 15%, with the rest at 8% (5 year
*holding) or 10% (18 month holding).
*How is the capital gain calculated if the tax payer is normally in the 15%
*bracket, but the gain places him in the 28% bracket?
The simplest way to think of this is as follows:
1st - calculate the tax on your taxable income using the normal rate schedule
2nd - subtract your net capital gain (nature long term) from taxable income
3rd - Calculate the tax using the normal rate schedule for the result in
step 2
4th - Calculate the tax on your net capital gain (nature long term) using
the special applicable rate (i.e., 25% for Sec. 1250 property)
Your tax will be the smaller of 1, or the sum of 3 & 4.
I think the next sentence gets to the question that you are really asking.
If you have net capital gains (nature long term), you will never pay more
that what you would pay using the regular tax rate schedule, and you might
pay less!
Steven M. Foulks, CPA, CFP, PhD
Professor of Accounting & Finance
Northern Michigan University
www.nmu.edu/instruct/business/sfoulks/
------------------------------
Date: Fri, 19 Sep 1997 18:33:15 -0400 (EDT)
From: Jim & Sue Richmond <richmond@iname.com>
Subject: How can my sister rescue her 401k money?
Hello,
I have a question about the rules with respect the
rules governing companies running 401ks.
My sister left her job at Rand McNally media services
6 months ago and has been trying to get her 401k money
returned from the company plan to roll over into an IRA.
The division of the company (media services) was sold shortly
after she departed. The new company is McQueen.
Upon leaving, she filled out a request to have her funds returned.
The form had options to get the money at the end of the current
quarter (which would have been June) or the end of the year. She
checked the June option.
June came and went, no sign of any money. At the begining of August
she contacted the HR dept. of McQueen as was told that she would get
a check for the account value as of 6/30/97 at the end of Sept.
She hasn't received a statement from Rand or McQueen since the end
of the March quarter.
The questions are:
1) Is it legal for the company to hold the money until the
end of the quarter?
2) Is it legal for the company to pay the value as of 6/97
in September without interest of creditr for the extra 3
months? Where was the money during the market gains of July?
3) What should my sister do now? Are there state (CA) or Federal
agencies (URLs?) that could give us some guidance?
Thanks,
Jim
------------------------------
Date: Fri, 19 Sep 1997 18:34:39 -0400 (EDT)
From: "Alan E. Hersh" <CyberWiz@web-site.com>
Subject: Re: E-mail while traveling?
E-mail while traveling?
I travel a lot, but don't want to take my laptop. Uniden makes somewthing
that receives e-mail. Does a PDA do it also? Any suggestions?
- ------------------------------
There's a great site on the 'net that allows you to check your e-mail from
anywhere. Refer to http://www.mailstart.com/ -
Alan Hersh
http://CyberJournalist.com/
------------------------------
Date: Fri, 19 Sep 1997 18:38:47 -0400 (EDT)
From: "Robert Hartwig"<Robert_Hartwig@swissre.com>
Subject: Re: Books on Asset Class Returns
The best source of returns by asset class that I know of is a publication
titled "Stocks, Bonds, Bills, and Inflation" by a Chicago-based
organization called Ibbotson Associates. The information is very detailed,
but it's still easy to read. It's updated annually and the data generally
run back to the 1920s. There are also lots of useful charts in the
publication.
------------------------------
Date: Fri, 19 Sep 1997 18:39:30 -0400 (EDT)
From: "pmgp" <pmgp@ccgate.kastle.com>
Subject: re: bill-pay services
The problem with Sallie Mae was that they would not process a payment
that came from an outside company as fast as they did one that comes
from the individual. They get stacked up in a pile somewhere. In the
meantime, the money came out of your account. It is gone. You can
mail a payment to Sallie Mae yourself if you have the money, but if
you don't, you are late. They report you the the credit bureaus as
not paying at all. Anyone else remember the discussions we have hadf
on the list about clearing up your credit report?
And, the company I worked for is big. They are the biggest. If you
want to know who it was, let me know.
George P.
------------------------------
Date: Fri, 19 Sep 1997 18:41:10 -0400 (EDT)
From: "Jackson, Anthony D." <JacksAD1@central.SSD.JHUAPL.edu>
Subject: Mutual fund Calculations Web Site?
Does anyone know of a website that allows comparison of past mutual fund
results? I would like to to go back 10 years and compare fund A vs.
fund B results with all dividends and Capitol gains invested.
"TJ"
------------------------------
Date: Fri, 19 Sep 1997 18:41:44 -0400 (EDT)
From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: need resource data on asset class returns
Absolutely -- the classic -- _Stocks, Bonds, Bills, and Inflation_ by
Ibbotson and Sinquefield. The current edition of the book is $90. You can
get all the data as an Excel spreadsheet (saves the trouble of typing it in)
for $395. See www.ibbotson.com.
Rich Carreiro
rlcarr@animato.pn.com
------------------------------
Date: Fri, 19 Sep 1997 18:42:15 -0400 (EDT)
From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: Stockbrokers-Are They REALLY needed?
>seller on the floor (or computer). In any mean, no one can trade any
>public share without going through the proper channels. Only exception
>is a private transaction on private securities!
Not true at all. If I own stock in a publically-traded company, I can
most certainly sell my shares without having to use a broker. Once I
locate someone who is willing to pay what I want for the shares, I
accept his money, endorse the back of the certificate, and hand the
certificate over to him. He then sends it to the designated transfer
agent to be reissued in his name. Voila! I of course have to report
the sale on my tax return. Also, the price paid should be quite close
to what it was trading for on the exchanges that day, else there'll be
an element of gift to the transaction that must be accounted for. But
in any case, a private sale of a publically-traded security is
perfectly legal and allowable.
Rich Carreiro
rlcarr@animato.pn.com
------------------------------
Date: Fri, 19 Sep 1997 18:42:56 -0400 (EDT)
From: "Louis J. Schwarz, CFP, RFC" <sfc@deafcfp.com>
Subject: Re: Stockbrokers-Are They REALLY needed?
Rich Carreiro wrote:
>
> >seller on the floor (or computer). In any mean, no one can trade any
> >public share without going through the proper channels. Only exception
> >is a private transaction on private securities!
>
> Not true at all. If I own stock in a publically-traded company, I can
> most certainly sell my shares without having to use a broker. Once I
> locate someone who is willing to pay what I want for the shares, I
> accept his money, endorse the back of the certificate, and hand the
> certificate over to him. He then sends it to the designated transfer
> agent to be reissued in his name. Voila! I of course have to report
> the sale on my tax return. Also, the price paid should be quite close
> to what it was trading for on the exchanges that day, else there'll be
> an element of gift to the transaction that must be accounted for. But
> in any case, a private sale of a publically-traded security is
> perfectly legal and allowable.
- --
Yes, you still have to go thru the transfer agent to do the paperwork!
That is another proper channel for the public documentation! In old
days, we used to have "Any bearer" instead of any name! Also, there are
still some remaining old securities showing "any bearer". :)
Louis J. Schwarz, CFP, RFC TTY 301-587-5996
Schwarz Financial Concepts FAX 301-587-5997
814 Thayer Avenue, Suite 301 Voice Relay 800-735-2258
Silver Spring, Maryland 20910-4500 Mailto:sfc@deafcfp.com
------------------------------
Date: Fri, 19 Sep 1997 18:44:24 -0400 (EDT)
From: Jim_Shoenfelt@USFG.COM
Subject: Re: Receiving Email on the Road
Eric asked, " I travel a lot, but don't want to take my laptop. Uniden
makes somewthing that receives e-mail. Does a PDA do it also? Any
suggestions?"
I have a Sharp ZR-5800. It's 2MB and about the size of a checkbook. I
like it. I have accessed compuserve with it: Forums, mail, and executive
news service. Obviously you dont have *full* access to compuserve, but you
can at least pick up your mail and do some other things. It also has a
spreadsheet, word processing, appointments, phone numbers. You can send
faxes, use it as a pager (I've never done that), and AT&T mail (nor that).
You can buy software for transferring between the pc for $8 (I think you
may need to purchase a cable, too.) Sharp's number is 800-321 8877.
I think they run around $500.
I think they have a new one which gives you full internet access - they
should be able to help you.
------------------------------
Date: Fri, 19 Sep 1997 18:45:00 -0400 (EDT)
From: David Meyers <dmeyers@panix.com>
Subject: Re: Using a Computer Bill Paying Service
>
>>At least as important - and the biggest reason I won't consider electronic
>checks - getting screwups fixed. I've heard a couple of horror stories
>about incorrect debits, unpaid bills, etc - and getting these things
>_fixed_ - I've never heard anyone say "one phone call and it was
>straightened out".
>
>
>One call and it was all straightened out. Seriously. I've used the
>services of Checkfree for 3 years now. I've had two problems. Both were
>caused by the merchant I was paying. Both were resolved by Checkfree
>directly with the merchant. I didn't have to lift a finger to resolve the
>issues.
Thanks for your comments. I'll amend my earlier statement
now -- that is the first time I've ever heard anyone say
that screwups were fixed so easily. And I'm glad to hear
it -- I'll keep watching and see if it reaches the level
where I'll consider it - I just don't see enough benefit
yet to risk dealing with problems. As the technology
matures, I suspect that it will indeed become worthwhile,
if not necessary.
- --D
------------------------------
Date: Fri, 19 Sep 1997 18:46:21 -0400 (EDT)
From: dmak@tma-net.org
Subject: Re: Renter's Insurance
My understanding is that, as a renter, you need renter's insurance to
protect your personal belongings in case of mishap. The property
owner maintains landlord's insurance, which covers the cost of
replacing destroyed house. I do not believe the renter is
responsible for protecting the dwelling or neighbors' dwellings.
------------------------------
Date: Fri, 19 Sep 1997 18:46:47 -0400 (EDT)
From: "Dalmia, Bipin K." <DALMIABK@phibred.com>
Subject: new tax law: gain on sale of a home
hello all:
under the new tax law, capital gains from the sale of a home that was a
principal residence is excluded from taxes (upto a certain limit). does
that mean that tracking cost of home-improvements etc. that add to the
cost basis is no longer necessary?
thanx, bip
------------------------------
Date: Fri, 19 Sep 1997 18:47:25 -0400 (EDT)
From: Jason Wayne <jasonwayne@rocketmail.com>
Subject: Do you have any advice on shrinking or eliminating debt?
I have been reading your Q & A's on mutual funds for some time and
have found the advice given to seem quite sound. I need help. I've
been approached a few times recently by individuals selling mutual
funds, but a fairly large mortgage and 40K+ in credit card debt
precluded my involvement. I'll worry about acquiring stock later. If
some of you have any suggestions on a plan of action for debt
elimination, I'll be severly grateful. jasonwayne@rocketmail.com
------------------------------
Date: Fri, 19 Sep 1997 18:48:03 -0400 (EDT)
From: ravic@sdt.com (Ravi P Chivukula)
Subject: Re: My Old Car
Hi,
I bought a 1983 Accord in 1991 for $2,200. It had 81K then and now it
has 128K mileage.
Of late, the brakes on the car are not effective and the car has failed
State emission. There are other problems with transmission and the
steering wheel. My mechanic tells me that, to bring it back on
the road safely with minimal expense will cost me upwards of $1500.
He advises me that it is not safe to drive my car as-is anymore.
What are my options ? ( Assuming the words of my mechanic are reliable)
If I give it away to charity, I can tax-deduct. But I do not itemize. Also
how to determine the value of the car ?
If I sell it as is, what is my liability if the buyer is involved in an
accident before the car is transfered to the buyer's name ? ( Considering
the brakes are not effective and the buyer knows about this.)
I would appreciate any ideas in this respect.
Thanks,
Ravi Chivukula
------------------------------
Date: Fri, 19 Sep 1997 18:48:55 -0400 (EDT)
From: mabrams@santafe.cc.fl.us
Subject: U.S. Filter?
U.S. Filter (sym USF), founded in 1991, is apparently
making a play for world domination of water purification
companies. They are associated with the Bass family who
own 10% of shares. USF's debt is about 42% at this point
and they are on an acquisition binge. Anyone have an
opinion or suggestion on how to decide on purchasing shares
of a company in this mode at current market($41.)?
Marjorie Abrams
<marjorie.abrams@santafe.cc.fl.us>
------------------------------
Date: Fri, 19 Sep 1997 18:50:21 -0400 (EDT)
From: Kumar Verma <vermak@ven.com>
Subject: Re: Email when traveling
You do not need a laptop to get email. Their are phones from which you
can now send and receive emails.
Kumar Verma
http://www.investorsforum.com
The Best Place for free offers on the Net
------------------------------
Date: Fri, 19 Sep 1997 18:51:24 -0400 (EDT)
From: bigelowr@ix.netcom.com
Subject: New Tax Relief Questions
I new to this forum and have not posted before. Having read volumes on
the Taxpayer Relief Act, I have two questions for your readers:
Re: Roth IRA Conversions
During 1998, taxpayers may convert traditional IRA's to Roth IRA,
subject to an AGI limit of $100,000 (excluding the conversion
itself). If a taxpayer is extremely close to this AGI limit towards
yearend (1998), and various unknown compensation/bonus issues or
mutual fund distributions could put them over this limit, does the
conversion literally have to be completed in the same year? The mere
timing of these issues could pose a dilemna at yearend 1998.
Re: Education IRA
Can a child contribute to their own Education IRA from a previously
established UGMA account? Of course, this would be directed by the
custodian (or parent).
Thanks for your help and consideration.
------------------------------
Date: Fri, 19 Sep 1997 18:52:11 -0400 (EDT)
From: trp@sprynet.com
Subject: PMI Mortgatge Insurance - How To Avoid?
How difficult is it to get rid of the PMI Mortgage Insurance payment on
your house, after reaching 20% equity (that would have been required
upfront to avoid PMI), after lets say 2 years when you reapraise the
home.
Has anyone done it or had a hard time, any experiences good or bad will
be welcome.
Thanks in advance.
------------------------------
Date: Fri, 19 Sep 1997 18:53:15 -0400 (EDT)
From: jleipol <jleipol@ibm.net>
Subject: Re: Life Insurance Trust?
> I've been advised to set up an irrevocable life insurance trust because
> my assets are over 600K and I'm single. I'm wondering if I could just
> get a policy in my son or brother's name instead. I have only one
> child, he's in college and I trust him completely. It seems a lot
> simpler. Are there any ramifications I should be aware of?
>
> I. Good
I'm afraid that I can't give a direct answer to your question, but I
would like to launch in here with a few peripheral observations, if I
may.
1) I have a strong hunch that your source of information about needing a
"life insurance trust" comes from someone who can sell you that kind of
policy. While there are many good products out there worth buying,
ALWAYS suspect that there may be a simpler or better deal than the one
someone may be offering you if it profits them also. Ask lots of
questions of different people with different viewpoints. You are doing
that here in this forum and are to be lauded for that.
2) Take the fullest advantage that you can of the $10,000 per year you
can gift out of your estate to your son. Start with illiquid assets
(home, other property) first, cash last.
3) The retirement funds you accrue are due to your efforts. Enjoy them
to the fullest extent while conserving enough to last you through
somewhere around 89 years old. The ideal scenario would be to live well
and die penniless, but the odds of knowing our own time of departure off
of this world are remote. Therefore, prudence would dictate that one
side with the odds as far as lifespans, average cash flow needed, rates
of return for your style of investing, etc.
Good luck!
John Leipold
------------------------------
Date: Fri, 19 Sep 1997 18:53:47 -0400 (EDT)
From: jleipol <jleipol@ibm.net>
Subject: Re: recommendations for Toll-Free service
> I am looking for getting a toll-free(800/888) service for my business.
> Any good company who has reasonable rates? I have read about matrixtel
> but looking for info on any providers.
The rate you can get will depend largely on your bargaining power, which
depends on what your average monthly volume is or will be. Where I work,
we use a company called ICI (was Phone One). We get a flat $0.10 per
minute rate.
Get written quotes from several different carriers, and don't be afraid
to play them against each other. Arguments you may hear from them as
they try to make you think that their service is superior and the others
are inferior would include such things as "connect time", "6-second
billing", "local presence", "redundency", etc ad nauseum. I've used five
or six different carriers over the past 15 years, and found very little
difference in their performance.
Get them to define any terms they use, and ask each company their
response to their competitors allegations. It's a dirty, mud-slinging
business sometimes, and often the salepeople are very well trained as
salespeople.
Watch out for the extended "term agreement" they will say is necessary
to secure the lowest rate for you. They will dangle lower rates for two-
and three-year terms, but what they don't tell you is that two or three
years from now, the rates will probably be lower anyway.
As in any time you deal with salespeople, remember that you as the
customer hold all the cards, until you sign on the dotted line. Measure
twice, cut once.
Good luck!
John Leipold
------------------------------
Date: Fri, 19 Sep 1997 18:54:58 -0400 (EDT)
From: dulnev@jhu.edu (Jason Dulnev)
Subject: Re: Renters Insurance Question
>I rent a townhome, and am wondering how much renters insurance I
>need. In particular the personal liabilty part of insurance. Here is a little
>background:
>
>Similar houses to the type I rent currently sell for about $200,000. In a
>worse case scenerio (lets say there was a fire and the house was
>destroyed and I was at fault) I have $300,000 liability coverage. This
>obviously would be enough money to replace the house I occupy.
>However do I need additional liability coverage for my neighbors
>property (if there property also had damage due to my fire). Or is this my
>landlords responsiblity?
>
>Also is there a general rule of thumb in regard to determing how much
>liablity coverage one needs while renting a residence?
>
>Thanks
>Steve Klein
Steve, I'm afraid you have a wrong impression of what renters
insurance is and what it covers. It ONLY covers your personal property
inside a house, but it does NOT cover any portion of the house against
any kind of damage. A fire that destroys your house and possibly your
neighbors' houses is covered under the homeowner's policy that your
landlord maintains. The "liability" coverage on renter's insurance is
there to protect you, for example, in case someone brakes a leg in
your house and sues you for negligence. It will also protect you if
you come to your friend's house and physically brake their 60" TV.
Jason Dulnev
dulnev@jhu.edu
------------------------------
Date: Fri, 19 Sep 1997 18:55:30 -0400 (EDT)
From: eric <eric_marcus@compuserve.com>
Subject: Re: Interactive Investment tech fund
It's a good mutual fd. I've made 18.5% so far.
(Editor's Question - Over what time period? -IK)
Bought it in May and June '97. So far I'm 20% ahead.
------------------------------
Date: Fri, 19 Sep 1997 18:56:40 -0400 (EDT)
From: Bill Moriarty <bmoriarty@cat2.com>
Subject: Questionable financial planner practice
Mr. Krakow, I would appreciate your opinion as to whether the practice
of investing IRA funds in annuities is ethical, legal or in my interest.
After the fact, they seem to generate more in commissions and fees than
I received - only 13.8% return over the past two years! (S&P 500 = 53%).
Having been "educated", it cost me $43,000 in surrender charges to
escape! Also, the annuities had a 1.4% fee plus my planner's fee of
1.8%. Do you think his interest were related to his fudiciary
responsibilities or generating commissions?
I would appreciate your comments and advice.
William Moriarty
------------------------------
Date: Fri, 19 Sep 1997 19:00:13 -0400 (EDT)
From: JSulser462@aol.com
Subject: women's investment club video
Hi all,
A few months back I shared my experiences as a financial planner and an
educator for women in investing by helping them form investment clubs. I was
encouraged by many of you who were able to attend my free orientation
meetings to have them professionally taped and available to any woman who
wishes to join or start an investment club.
Well, I did it!
If you would like to find out if an investment club experience is for you and
what it takes to form or join an existing club, you can order this video from
my company. It covers what an investment club is, what your choices are, who
does what, how to keep it fun and rewarding and where to get more help.
This video will give you the information you will need to form your own club
and where to get information if you don't want to do it on your own.
If you are interested, please E-mail me. There is a cost for my expenses in
producing the video of $12.95 including shipping and handling.
The name of my company is:
Retirement Benefit Systems
22231 Mulholland Hwy. #210
Calabasas, CA 91302
Our phone number is : (818) 223-8134.
Julie
------------------------------
End of persfin-digest V4 #84
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