...until there's not enough

#news

newsweek:

Most marriages don’t last nearly as long as Irven Gordon’s Volvo P1800 has lasted. And most couples probably don’t spend as much time together as Irv has spent in his beloved car. Irv says he hadn’t even heard of Volvos until a few days before he bought the car, on June 30, 1966.
At the time, he was fed up with his turbocharged 1963 Corvair Spyder, which he says was constantly making him late for his middle school science teaching job by breaking down en route. While thumbing through a Car and Driver with a car savvy friend, he stumbled upon an ad for the local Volvo dealership, with a photo of a P1800.
“These are great cars,” the friend told him. So down he went to Volvoville in Huntington, NY, and took a P1800 convertible for a spin. He drove for three hours, and then bought the much less expensive coupe, for $4,150, or $30,000 in current dollars, approximately his then annual salary. That first weekend, Irv rolled 1,500 miles, returning to the dealership on Monday for his car’s first checkup. He hadn’t planned to drive through the weekend, but he says he was having too much fun to stop—up to Boston, down to Philly, and all over in between before returning to his home on Long Island. He’s been driving the P1800 enthusiastically ever since. On September 24th of last year, he hit 3 million miles.
The Man For Whom They Made The Three Million Mile Badge)

I want to figure out how much money this saved him over the years - maintaining rather than discarding. What would you guess?
newsweek:

Most marriages don’t last nearly as long as Irven Gordon’s Volvo P1800 has lasted. And most couples probably don’t spend as much time together as Irv has spent in his beloved car. Irv says he hadn’t even heard of Volvos until a few days before he bought the car, on June 30, 1966.
At the time, he was fed up with his turbocharged 1963 Corvair Spyder, which he says was constantly making him late for his middle school science teaching job by breaking down en route. While thumbing through a Car and Driver with a car savvy friend, he stumbled upon an ad for the local Volvo dealership, with a photo of a P1800.
“These are great cars,” the friend told him. So down he went to Volvoville in Huntington, NY, and took a P1800 convertible for a spin. He drove for three hours, and then bought the much less expensive coupe, for $4,150, or $30,000 in current dollars, approximately his then annual salary. That first weekend, Irv rolled 1,500 miles, returning to the dealership on Monday for his car’s first checkup. He hadn’t planned to drive through the weekend, but he says he was having too much fun to stop—up to Boston, down to Philly, and all over in between before returning to his home on Long Island. He’s been driving the P1800 enthusiastically ever since. On September 24th of last year, he hit 3 million miles.
The Man For Whom They Made The Three Million Mile Badge)

I want to figure out how much money this saved him over the years - maintaining rather than discarding. What would you guess?

newsweek:

Most marriages don’t last nearly as long as Irven Gordon’s Volvo P1800 has lasted. And most couples probably don’t spend as much time together as Irv has spent in his beloved car. Irv says he hadn’t even heard of Volvos until a few days before he bought the car, on June 30, 1966.

At the time, he was fed up with his turbocharged 1963 Corvair Spyder, which he says was constantly making him late for his middle school science teaching job by breaking down en route. While thumbing through a Car and Driver with a car savvy friend, he stumbled upon an ad for the local Volvo dealership, with a photo of a P1800.

“These are great cars,” the friend told him. So down he went to Volvoville in Huntington, NY, and took a P1800 convertible for a spin. He drove for three hours, and then bought the much less expensive coupe, for $4,150, or $30,000 in current dollars, approximately his then annual salary. That first weekend, Irv rolled 1,500 miles, returning to the dealership on Monday for his car’s first checkup. He hadn’t planned to drive through the weekend, but he says he was having too much fun to stop—up to Boston, down to Philly, and all over in between before returning to his home on Long Island. He’s been driving the P1800 enthusiastically ever since. On September 24th of last year, he hit 3 million miles.

The Man For Whom They Made The Three Million Mile Badge)

I want to figure out how much money this saved him over the years - maintaining rather than discarding. What would you guess?


A North Carolina university student faces charges of possessing almost $13,000 in fake money in her room after she tried to use a counterfeit $100 bill signed “Moe Money,” investigators say.

If you look closely, you’ll notice that it says “Proprietor of the Counterfeiting” under the signature.
Read more here: http://www.newsobserver.com/2014/01/23/3557710/fake-100-bill-signed-moe-money.html#storylink=cpy

A North Carolina university student faces charges of possessing almost $13,000 in fake money in her room after she tried to use a counterfeit $100 bill signed “Moe Money,” investigators say.

If you look closely, you’ll notice that it says “Proprietor of the Counterfeiting” under the signature.
Read more here: http://www.newsobserver.com/2014/01/23/3557710/fake-100-bill-signed-moe-money.html#storylink=cpy

A North Carolina university student faces charges of possessing almost $13,000 in fake money in her room after she tried to use a counterfeit $100 bill signed “Moe Money,” investigators say.

If you look closely, you’ll notice that it says “Proprietor of the Counterfeiting” under the signature.

Duke Grad Student Secretly Lived In A Van To Escape Loan Debt

He took out the back row of seats, which left plenty of room for “furnishings.” He used a plastic bin to store food, supplies and school materials.

That’s pretty awesome.  I once spent a good part of two weeks living out of an Isuzu Rodeo on a road trip, and that was enough for me.  Kudos to Ken for his creativity and willingness to live against the grain.

Check out his book, Walden on Wheels: On the Open Road from Debt to Freedom

nbcnews:

Senate passes bill allowing states to tax online sales
(Photo: Lenny Ignelzi / AP)
The Senate sided with traditional retailers and financially strapped state and local governments Monday by passing a bill that would widely subject online shopping — for many a largely tax-free frontier — to state sales taxes.
Read the complete story.

It was fun while it lasted, you guys.
nbcnews:

Senate passes bill allowing states to tax online sales
(Photo: Lenny Ignelzi / AP)
The Senate sided with traditional retailers and financially strapped state and local governments Monday by passing a bill that would widely subject online shopping — for many a largely tax-free frontier — to state sales taxes.
Read the complete story.

It was fun while it lasted, you guys.

nbcnews:

Senate passes bill allowing states to tax online sales

(Photo: Lenny Ignelzi / AP)

The Senate sided with traditional retailers and financially strapped state and local governments Monday by passing a bill that would widely subject online shopping — for many a largely tax-free frontier — to state sales taxes.

Read the complete story.

It was fun while it lasted, you guys.

nbcnews:

Finally! Dow’s big streak points to recovery
(Photo: Brendan McDermid / Reuters)
After the Dow hit a 10-day winning streak on Thursday—for the first time since 1996—investors’ message is clear: the Great Recession may finally be ending.
Read the complete story.

If you were using the market as your indicator, you might have thought the country came out of the recession a lot earlier than today.  If you had purchased an index fund that followed the Dow on November 21st, 2008, you would have nearly doubled your investment since then.
We’ve been in a recession, but at the same time, we were in a historical bull market.  It just goes to show that you need to maintain some separation from your economic news and investing strategy.
nbcnews:

Finally! Dow’s big streak points to recovery
(Photo: Brendan McDermid / Reuters)
After the Dow hit a 10-day winning streak on Thursday—for the first time since 1996—investors’ message is clear: the Great Recession may finally be ending.
Read the complete story.

If you were using the market as your indicator, you might have thought the country came out of the recession a lot earlier than today.  If you had purchased an index fund that followed the Dow on November 21st, 2008, you would have nearly doubled your investment since then.
We’ve been in a recession, but at the same time, we were in a historical bull market.  It just goes to show that you need to maintain some separation from your economic news and investing strategy.

nbcnews:

Finally! Dow’s big streak points to recovery

(Photo: Brendan McDermid / Reuters)

After the Dow hit a 10-day winning streak on Thursday—for the first time since 1996—investors’ message is clear: the Great Recession may finally be ending.

Read the complete story.

If you were using the market as your indicator, you might have thought the country came out of the recession a lot earlier than today.  If you had purchased an index fund that followed the Dow on November 21st, 2008, you would have nearly doubled your investment since then.

We’ve been in a recession, but at the same time, we were in a historical bull market.  It just goes to show that you need to maintain some separation from your economic news and investing strategy.

nbcnews:

Man wins $7.2 million playing slots in friend’s memory after funeral
(Photo Courtesy Palace Casino Resort)
A Michigan man went to Mississippi for a friend’s funeral last week, and came back a multimillionaire.
Read the complete story.

Whoa.
Also, let’s not ignore the fact that it was on a Lord of the Rings slot machine. I mean, I don’t really know how that fits in here, but I’m sure it does somehow.
nbcnews:

Man wins $7.2 million playing slots in friend’s memory after funeral
(Photo Courtesy Palace Casino Resort)
A Michigan man went to Mississippi for a friend’s funeral last week, and came back a multimillionaire.
Read the complete story.

Whoa.
Also, let’s not ignore the fact that it was on a Lord of the Rings slot machine. I mean, I don’t really know how that fits in here, but I’m sure it does somehow.

nbcnews:

Man wins $7.2 million playing slots in friend’s memory after funeral

(Photo Courtesy Palace Casino Resort)

A Michigan man went to Mississippi for a friend’s funeral last week, and came back a multimillionaire.

Read the complete story.

Whoa.

Also, let’s not ignore the fact that it was on a Lord of the Rings slot machine. I mean, I don’t really know how that fits in here, but I’m sure it does somehow.

Dave Ramsey Accidentally Shows Us Why We Use Caution When Taking Advice From Personal Finance Professionals
Earlier today on Twitter, personal finance “guru” Dave Ramsey showed us his plan that would allow everyone to “become a millionaire”:

Saving only $100 per month from age 25 to age 65 at 12% growth = $1,176,000. Everyone should retire a millionaire!

Sure, he’s encouraging people to save, and that’s obviously a good thing. But, he’s also using exaggerated claims about how to achieve some dream-like lifestyle in an effort to sell more of his stuff. The truth is, it’s not that easy for most folks, or even financial professionals for that matter.
After receiving several responses calling out his absurd claim, he took to his radio show to go on an all out rant:

It’s simple concept in a culture that has the savings rate and financial maturity of a two-year-old. To simply put out there that maybe if you save some money you would have some blows people away. This is why I have a job for as long as I want one. I will never be unemployed. Just teaching people to save money and get a bunch of money and get out of debt. Me and Jenny Craig, we got a lock for life, baby. We got enough work forever.

Ouch. Sure, there may be some truth there, but come on. He’s basically said that he likes that people are in debt because it keeps his pockets lined. Not cool, man.
He later went on to say that if you can’t find a fund that averages 12% per year, then you should call his hotline for advice on which funds to pick. 
Very convenient…call a hotline to get a list of Ramsey-endorsed funds. I wonder why he would endorse certain funds? 
It’s because he gets PAID to endorse those funds! It’s the same scenario when a financial advisor recommends funds that bear his or her company’s name—they get paid more to suggest them whether they’re the best option or not.
All in all, Dave Ramsey does help a lot of people. However, it’s a good reminder that no one really cares about YOUR money more than YOU. Especially someone that gets paid for giving you advice.
Dave Ramsey Accidentally Shows Us Why We Use Caution When Taking Advice From Personal Finance Professionals
Earlier today on Twitter, personal finance “guru” Dave Ramsey showed us his plan that would allow everyone to “become a millionaire”:

Saving only $100 per month from age 25 to age 65 at 12% growth = $1,176,000. Everyone should retire a millionaire!

Sure, he’s encouraging people to save, and that’s obviously a good thing. But, he’s also using exaggerated claims about how to achieve some dream-like lifestyle in an effort to sell more of his stuff. The truth is, it’s not that easy for most folks, or even financial professionals for that matter.
After receiving several responses calling out his absurd claim, he took to his radio show to go on an all out rant:

It’s simple concept in a culture that has the savings rate and financial maturity of a two-year-old. To simply put out there that maybe if you save some money you would have some blows people away. This is why I have a job for as long as I want one. I will never be unemployed. Just teaching people to save money and get a bunch of money and get out of debt. Me and Jenny Craig, we got a lock for life, baby. We got enough work forever.

Ouch. Sure, there may be some truth there, but come on. He’s basically said that he likes that people are in debt because it keeps his pockets lined. Not cool, man.
He later went on to say that if you can’t find a fund that averages 12% per year, then you should call his hotline for advice on which funds to pick. 
Very convenient…call a hotline to get a list of Ramsey-endorsed funds. I wonder why he would endorse certain funds? 
It’s because he gets PAID to endorse those funds! It’s the same scenario when a financial advisor recommends funds that bear his or her company’s name—they get paid more to suggest them whether they’re the best option or not.
All in all, Dave Ramsey does help a lot of people. However, it’s a good reminder that no one really cares about YOUR money more than YOU. Especially someone that gets paid for giving you advice.

Dave Ramsey Accidentally Shows Us Why We Use Caution When Taking Advice From Personal Finance Professionals

Earlier today on Twitter, personal finance “guru” Dave Ramsey showed us his plan that would allow everyone to “become a millionaire”:

Saving only $100 per month from age 25 to age 65 at 12% growth = $1,176,000. Everyone should retire a millionaire!

Sure, he’s encouraging people to save, and that’s obviously a good thing. But, he’s also using exaggerated claims about how to achieve some dream-like lifestyle in an effort to sell more of his stuff. The truth is, it’s not that easy for most folks, or even financial professionals for that matter.

After receiving several responses calling out his absurd claim, he took to his radio show to go on an all out rant:

It’s simple concept in a culture that has the savings rate and financial maturity of a two-year-old. To simply put out there that maybe if you save some money you would have some blows people away. This is why I have a job for as long as I want one. I will never be unemployed. Just teaching people to save money and get a bunch of money and get out of debt. Me and Jenny Craig, we got a lock for life, baby. We got enough work forever.

Ouch. Sure, there may be some truth there, but come on. He’s basically said that he likes that people are in debt because it keeps his pockets lined. Not cool, man.

He later went on to say that if you can’t find a fund that averages 12% per year, then you should call his hotline for advice on which funds to pick.

Very convenient…call a hotline to get a list of Ramsey-endorsed funds. I wonder why he would endorse certain funds?

It’s because he gets PAID to endorse those funds! It’s the same scenario when a financial advisor recommends funds that bear his or her company’s name—they get paid more to suggest them whether they’re the best option or not.

All in all, Dave Ramsey does help a lot of people. However, it’s a good reminder that no one really cares about YOUR money more than YOU. Especially someone that gets paid for giving you advice.