Not gold set in jewelry but a real piece of gold. I bought a gold coin and I'm thrilled with both my decision to buy it and my actual purchase of the piece. After I did a ton of research into buying a gold bar I decided that a coin would be my best option. I could have gotten a ingot or a piece of bullion but coins are small and portable. I could have had United States Gold Bureau hold the gold or set me up with a intermediary bank that would have held the gold physically, but since I bought in such a small quantity, I'm holding it myself.
Actually I'm on my way to the bank to put it in my safe deposit box. Hopefully this will just be the first purchase of many more to come.
Showing posts with label net worth. Show all posts
Showing posts with label net worth. Show all posts
Tuesday, August 10, 2010
Sunday, December 09, 2007
Can I afford it?
No, I probably can't. Lolol. I'm watching a rerun of the Suze Orman show where she does the "Can I afford it" segment. Basically you call in, tell her your finances and she tells you whether you can buy the item you want or not.
It's a real eye-opener seeing how much money people have and what they want to buy. One family called in with almost 8k monthly take home income. But they only have 7k in savings. Savings include cash, cds, mutual funds and stock. They have no retirement savings right now and they're in their early 30's. They make a ton of money and hardly have any savings. I have more in savings than they do and I make way less than them. They wanted to buy 1/2 share of a lake house. They were denied because they didn't have enough in savings.
I'm floored that they don't even have 1 month of their salary in savings. That's living on the edge in my opinion. Of course their expenses could be really low but even if their expenses are half of their income, they still have less than 2 months worth of expenses.
It's a real eye-opener seeing how much money people have and what they want to buy. One family called in with almost 8k monthly take home income. But they only have 7k in savings. Savings include cash, cds, mutual funds and stock. They have no retirement savings right now and they're in their early 30's. They make a ton of money and hardly have any savings. I have more in savings than they do and I make way less than them. They wanted to buy 1/2 share of a lake house. They were denied because they didn't have enough in savings.
I'm floored that they don't even have 1 month of their salary in savings. That's living on the edge in my opinion. Of course their expenses could be really low but even if their expenses are half of their income, they still have less than 2 months worth of expenses.
Sunday, October 07, 2007
Tracking your net worth
Do you track your net worth? Do you post it on the internet? I do on my other blog. I actually messed up this quarter. I added the amount I paid my loan for the quarter instead of subtracting it. It was almost a $500 dollar difference. Right now my net worth is pretty low, but I'm working on it.
What about you? Are you happy with where your net worth stands right now?
What about you? Are you happy with where your net worth stands right now?
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