FINANCIAL: Help Main Street — Buy gift cards to support local business during COVID-19

Source: Help Main Street — Buy gift cards to support local business during COVID-19

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I don’t know if that is such great advice.

It would be reasonable to think some, if not most, will fail, bankrupt, and not reopen.

Your gift card is smoke.

I’ve been stuck with some Christmas and Birthday gift cards.

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FINANCIAL: Dealerships Give Car Buyers Some Advice: Just Stop Paying Your Loan – WSJ

The trade-in, where a buyer hands a car back to a dealership and uses it as credit toward another one, is often a crucial step in car buying. But some dealerships are instead telling buyers to give their old cars back to their lenders—and selling them new ones—in a practice known as “kicking the trade.”

Source: Dealerships Give Car Buyers Some Advice: Just Stop Paying Your Loan – WSJ

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This seems dishonest by both the dealer and the borrower.

Like the sub-prime mortgage fiasco, the banks are letting the “originator” off the hook.

The fix is easy.  Make the originator responsible — both jointly and severally — for the loan when and if it defaults.

Problem solved.

Be it any kind of loan, everyone needs to have skin in the game!

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FINANCIAL: Why youngsters will always be broke!

2019-Jul-29

All, and I mean ALL, the youngsters I know, and I know at least a dozen, will always be broke because they are financially illiterate. Thanks to financially illiterate Gooferment Skrules, parents, and relatives.

Despite having suggested it often — to the point of making myself bored — not one of them, NOT one, has set up any kind of a sinking fund bank account.

Case in point, a certain young lady was give a car.  I strongly suggested that she take the cost of the car ~18k$ and divide it by an estimated life of 70k miles which would translate to ~26¢ per mile.  Then, she should deposit each week an amount equivalent to number of miles driven times 25 cents.  (Even the Gooferment Skrules mathematically challenge can divide by four for the number of dollars to be “saved”.)

Guess what?

Never did it and guess who’s car just clocked 70k miles?  And, now guess who’s in a quandary as repair bills start to come in (i.e., tires, brakes, belts, etc. etc. etc.).

And she is not alone.  EVERY one is in the same boat.

Financially illiteratacy “costs” lives, happiness, and relationships.

Nie mój cyrk, nie moje małpy . . . literally, “not my circus, not my monkey;” figuratively, “not my problem.” — Polish saying

And I am the grumpy old cynic!

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FINANCIAL: A Health insurance alternative?

I was listening to “Charitable Liberty: An Honest Word with Bo Brown, Libertarian 2.0” by Jenn Gray
heyjenngray.com/

Leading Liberty – Libertarian Marketing Podcast Trailer … The first marketing and communications podcast ever created for pro-liberty professionals … She’s shown libertarians around the country exactly how to use Facebook to create targeted video advertising campaigns that reach users from both the left and the right.”.

And I heard about “Liberty Health Share”.

https://www.libertyhealthshare.org/3-program-options

I was very impressed with Ms. Gray’s personal experience with her personal health insurance needs.

I immediately identified some folks who could use this option. 

I’m putting it on my blog so perhaps it won’t be such a secret.

FWIW.

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FINANCIAL: “Social (In) Security” Trust Fund reserves become depleted in 2035″

https://www.zerohedge.com/news/2018-01-09/social-security-proposes-immediate-and-permanent-reduction-benefits

Social Security Proposes “Immediate And Permanent Reduction” In Benefits
by Tyler Durden
Tue, 01/09/2018 – 16:47

*** begin quote ***

Literally tens of millions of people depend on it.

The Social Security Administration itself reports that 62% of recipients rely on the program for at least HALF of their income.

And further research by the Center on Budget and Policy Priorities (CBPP) shows that, without Social Security, 22.1 million Americans would fall below the poverty line.

Needless to say, major cuts to the program would have nuclear effects.

And yet, year after year, the Social Security Board of Trustees publishes an annual report that describes the program’s terminal financial challenges in excruciating detail.They mince no words in plainly stating that Social Security pays out far too much money, and takes in far too little.

According to the 2017 Trustees report, “Trust Fund reserves become depleted in 2035.”

They’re practically giving us a date that we can circle on a calendar and mark “End of Social Security.”

*** end quote ***

Unfortunately, all the politicians and bureaucrats that stole and spent it will be all dead and out of sight!

And there will be a lot of unhappy “Sheeple” look to hang someone out to dry.

Not sure, how it will be resolved. But it’s going to be dangerous and “unpleasant”.

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FINANCIAL: Talk to one of the folks at RICE DELMAN for free no-obligation to do anything but listen

 

 

Screenshot 2017 04 24 09 51 11

http://www.edelmanfinancial.com/promotions/talk-with-a-financial-planner?pid=20515&refid=GDN-Search-National-Google-Unbranded&adpos=none&creative=191687172442&device=c&matchtype=&network=d&gclid=CMis6pafvdMCFQ6SaQodhHMCUg

No secret, I am a Client. And a raving fan.

I’ve gotten all sorts of my friends and relatives to just talk to them. And, I have received nothing but positive feedback.

Of course, they’d like you to become a Client. And their minimum account is 5k$. BUT, that’s not the purpose of starting the conversation. As Ric says — sometimes too often — he wants everyone to become “rich”. (That’s a concept I find hard to wrap my head around. EVERYONE?)

I have had people without two nickels “chat with an advisor” and come out with a plan how they were going to become “rich”. Or, at least, “richer”.

I have no vested interest in this recommendation. I get nothing from them, except the service I pay for. 

TANSTAAFL (“There Ain’t No Such Thing As A Free Lunch” From Robert Heinlein’s classic) 

But you can get some free advice. Which IMHO is worth a lot more than you pay for it. 

Remember I’m the cynic who worked on Wall Street.

Laugh!

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FINANCIAL: Get kids working?

FROM THE WSJ

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TODAY’S QUESTION
 
Going back to our story above, if you are a parent, do you or did you assign chores to your children? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
 
*** end quote ***
 
 
I don’t have children. But, my sainted Mom sent me to hustle up carrying bags for folks outside the local supermarket. I worked for tips and some times it was up six flights. Then at the end of the day, I’d give her what I earned and depending upon how broke we were, she give me some back. After that I couldn’t wait to get a real job, it was easier. I had a regular part tim job when I was 14 — due to Gooferment regulations. And was working full-time when I was 17 and in college full-time. Now 70, wish I could do it again.
 
Laugh!
 
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