Although the $787 billion stimulus program was signed by Obama in February of 2009, much of the cash-for-appliances money won’t hit the streets until next February, March or April. The rebate program is being run by state governments, which must define and enact their rebate plans with federal government funding and approval. A survey of some of the largest states shows that California is planning to begin its program in March, New York in February, Pennsylvania in the spring, Illinois in January and April.
http://www.washingtonpost.com/wp-dyn/content/article/2009/11/26/AR2009112602420.html
]]>California
http://www.sacbee.com/1232/rich_media/1698037.html
and the stock market is rallying? I don’t get it.
]]>http://www.bloomberg.com/apps/news?pid=20601109&sid=alximP6.Eta8&pos=10
]]>i.e. If you’re on the right track financially, what’s the most you should spend on a car? I’d prefer to accumulate a lot of capital relative to our income ASAP, but I know we need to find balance in our lives. My wife would like to buy a luxury car that costs the equivalent of 20% of our household income. Is 20% too much? Are there too many factors to create “rules of thumb” for car purchases?
I’ve shown her the numbers illustrating the cost to our net worth 30 years from now considering the different spending scenarios. She wants to enjoy some of the fruit of our labor today, rather than waiting 30 years.
]]>- have no interest in sinking the cash in CA real estate,
- no interest in an expensive car (because you’ve already owned several and its out of your system),
- have several hundred already in the stock market,
- currently do not own a home but have the additional reserves to buy one whenever,
- have zero debt,
- have already made significant contributions to charities
Some ideas:
- use the cash to buy/finance a couple of rentals outside CA,
- start your own business,
- day trade for living,
- invest in someone else’s business,
- ??
What would you do with the $100k?
http://icemanxtrendtrading.blogspot.com/
]]>So I have a complicated (but probably common of late) situation.
My parents house was foreclosed on two years ago. They were financially irresponsible, and ignored the phone calls and bills piling up for requests of mortgage payments they couldn’t afford (because they didn’t lock their interest rate).
They’ve been renting a place for the last two years, but the lease is now up and they’re being forced to move out. They assumed he would rent it to them again for another year, but he recently changed his mind and is asking them to leave before the end of the month.
They’ve been shopping around for a house the last few weeks (to purchase), and found some place but of course they can’t be approved for the loan because of the foreclosure on their history. However, they asked if they could run my credit history and my brothers. I have a very high credit score, so they said I would be approved for the loan if I purchased it co-signed with my brother (since I live outside of the area, they need someone local on the deed I assume).
Now, my question is… do you think I should do it? They called me this morning, and laid it down on me. They’re being forced to move out of their current house within two weeks, so it has to be quick. They wanted to FedEx me the papers to sign, assuming I would do it without question. But I don’t want to ruin my credit history if they screw up again.
Here’s some background info:
—They’re in their mid-late 50’s
—My dad is retired, my mother works a low paying job that’s very insecure
—My dad has a good pension, which is what is their only income
—They have around $115K in cash I believe
—The house is around $300K asking price, I believe
—They’re trying to do a FHA loan, and it would be me and my brother signing the deed (I don’t think my parents would even be signing it)
—I’m 24, single, living in SoCal (the’yre in Norcal) and do well for myself working full time
My parents say the real estate agents were telling them that they can remove me and my brother from the deed in one year or so, when they can qualify for a loan themselves. That sounds sketchy to me.
It’s all made more complicated with the drama with my parents. They don’t understand that I want to do the most financially responsible thing, they think I’m betraying the family by not just signing it. My sister also lives with them, and I don’t want them to be homeless or anything I just don’t want to ruin my credit and chances at getting my own home in the future.
What should I do?
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