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(former)FormerSanDiegan
ParticipantI didn’t have a good experience with SCORE. The dude basically told me it wouldn’t work and I would amount to nothing. He was old and jaded and I was young. He was wrong, I’ve come far.
Sounds like your experience with SCORE actually was effective. It motivated you to say to yourself that the old fuddy-duddy was wrong and you were right. You’ll show them. Sometimes “rejection” is all the motivation one needs.
As for the 50K. That depends. For some people, that is not even enough for their emergency fund. For others, it’s 3x too much. First: Take 6 months of your living expenses out of that 50K and put it in a high-yield savings account (“high” is a relative term), such as ING Direct or similar. If you already have an emergency fund, that’s great.
Then, put what’s left in a separate high-yiled savings account and based on what’s left start making decisions.Are your retirement funds fully maxed out ? Have you contributed to a Roth IRA ? (too late for 2007). Do you have any outstanding bills? Pay them down in order of max interest rate *highest first). This is typically: Credit cards, unsecured lines of credit, car loans, student loans.
AFter that see what’s left ?
Oops: Do you have to pay taxes on the 50K ? If so take the taxes out and go back to the top of my response and start over.
After these things, how much is left ?
Whatever’s left is suitable for investment in stocks, gold, inverse funds, bonds, starting a business, touring the rainforest, etc.
(former)FormerSanDiegan
Participant… in fact, as highly unlikely as it is, when David Lerah starts saying it gets worse from here, I start to question my assumption that it will.
(former)FormerSanDiegan
Participant… in fact, as highly unlikely as it is, when David Lerah starts saying it gets worse from here, I start to question my assumption that it will.
(former)FormerSanDiegan
Participant… in fact, as highly unlikely as it is, when David Lerah starts saying it gets worse from here, I start to question my assumption that it will.
(former)FormerSanDiegan
Participant… in fact, as highly unlikely as it is, when David Lerah starts saying it gets worse from here, I start to question my assumption that it will.
(former)FormerSanDiegan
Participant… in fact, as highly unlikely as it is, when David Lerah starts saying it gets worse from here, I start to question my assumption that it will.
(former)FormerSanDiegan
ParticipantThis guy could not have been more wrong 2-3 years ago about the direction of the housing market.
Why should we believe him now ? Just because his current opinions line up with mine ?
He may indeed end up being correct at calling a bottom. Heck, he may have a better chance than some uber-bears. But, he was so wrong at the top, that his current opinion carries little weight for me.
(former)FormerSanDiegan
ParticipantThis guy could not have been more wrong 2-3 years ago about the direction of the housing market.
Why should we believe him now ? Just because his current opinions line up with mine ?
He may indeed end up being correct at calling a bottom. Heck, he may have a better chance than some uber-bears. But, he was so wrong at the top, that his current opinion carries little weight for me.
(former)FormerSanDiegan
ParticipantThis guy could not have been more wrong 2-3 years ago about the direction of the housing market.
Why should we believe him now ? Just because his current opinions line up with mine ?
He may indeed end up being correct at calling a bottom. Heck, he may have a better chance than some uber-bears. But, he was so wrong at the top, that his current opinion carries little weight for me.
(former)FormerSanDiegan
ParticipantThis guy could not have been more wrong 2-3 years ago about the direction of the housing market.
Why should we believe him now ? Just because his current opinions line up with mine ?
He may indeed end up being correct at calling a bottom. Heck, he may have a better chance than some uber-bears. But, he was so wrong at the top, that his current opinion carries little weight for me.
(former)FormerSanDiegan
ParticipantThis guy could not have been more wrong 2-3 years ago about the direction of the housing market.
Why should we believe him now ? Just because his current opinions line up with mine ?
He may indeed end up being correct at calling a bottom. Heck, he may have a better chance than some uber-bears. But, he was so wrong at the top, that his current opinion carries little weight for me.
(former)FormerSanDiegan
ParticipantI think Rustico nailed it. This market makes sense for two types of buyers. The first are investors working deals, buying low-end properties from banks or distressed sellers. The other are folks who have concluded that after a 25% slide, they have evaded the bulk of the down-side risk and are sick of renting or hearing their significant other complain about renting.
(former)FormerSanDiegan
ParticipantI think Rustico nailed it. This market makes sense for two types of buyers. The first are investors working deals, buying low-end properties from banks or distressed sellers. The other are folks who have concluded that after a 25% slide, they have evaded the bulk of the down-side risk and are sick of renting or hearing their significant other complain about renting.
(former)FormerSanDiegan
ParticipantI think Rustico nailed it. This market makes sense for two types of buyers. The first are investors working deals, buying low-end properties from banks or distressed sellers. The other are folks who have concluded that after a 25% slide, they have evaded the bulk of the down-side risk and are sick of renting or hearing their significant other complain about renting.
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