Posted on October 1, 2008 @ 12:13 am - Written by BawldGuy
This will, by default, be a teaser for tomorrow’s post, as truth be known, I’m pooped. Still, one of the best conversations I’ve had recently, inspired a post. I spoke with a couple toay who’ve subscribed to Grandpa Economics, executing its strategy with admirable efficiency and excellence.
They’ve granted permission for me to post about them, subject to the maintenance of their anonymity. I’ll adhere easily by changing immaterial facts, including names, locations, etc.
Here’s a brief outline.
Married couple, early 40’s with kids. Wife is stay at home mom, no job. Husband earns solid income in aeronautical engineering — about $127,000 give or take.
They live in San Diego, and have for quite awhile. Besides their primary residence, they own a rental home, purchased in 2004. They own both their home and the rental free and clear of all debt. Jon has a 401(k) with a current balance of just over $150,000. It used to be much more, but the stock market has been, uh, unkind to them.
They’re very good savers, and don’t try to keep up with the Jones’s, or anyone else. They’ve begun to see what’s in store for them as it relates to their retirement, and realize they need to modify their strategy.
Tomorrow I’ll fill in the blanks, and outline what my advice will be.
Meanwhile, back at BawldGuyRanch, help yourself out, by takin’ a quick listen to the Grandpa Economics podcast. It’s cleverly listed under the heading of Podcasts, a little way down from the top of this page. NOTE: Don’t pay attention to the email given at the end of the podcast, as it’s no longer in force.
If you think a Purposeful Plan is called for to get your retirement plans back on track, click on the Contact BawldGuy thingy up top and to the right of this page. Meanwhile, I’ve expended my last calorie of the day. 
Have a good one.
Posted on September 29, 2008 @ 2:42 pm - Written by BawldGuy
Ever wonder why some politically charged things happen? The answer’s usually found in underlying agendas. What? Politicians have stealthy agendas? Perish the thought. Seriously, as soon as the Republicans get their way on most points, they’ll add their votes to the plan, and the Democrats will follow suit, happy they’re now part of a much larger herd.
It’s important in D.C. to ensure certain things. Remember, it’s not who wins, it’s who gets the blame. If Washington’s about anything, it’s plausible deniability.
That axiom alone goes a long way in explaining much of what goes on in our capitol.
Anyway, just a note letting you know, this is not nearly as ‘crisis ridden’ as most would have you believe. Don’t forget they told us we were gonna die, again, last Friday.
I’m not only still alive, but literally only a day or two away from gettin’ my clients a new source for boatloads of competitively priced investment loans. Guess that lender wasn’t afraid of dying last Friday either.
Go figure.
Posted on September 27, 2008 @ 3:32 pm - Written by BawldGuy
The other day I was asked how many exchanges I’ve done that failed. The answer is simple — none, zero, nada, zilch. Don’t know how many I’ve done, ‘cuz I stopped counting after a couple hundred. The proof I can offer than none ever failed? I’m alive. What would you do to me if the IRS sent you a tax bill for 5-6 figures when you thought you’d deferred ‘em?
Exactly. I’m still here, so…
Just this month, folks asking for help, have told me about unintended capital gains taxes incurred, surpassing a quarter million bucks. Ouch!!
The story that hit me hardest was the lady who had ‘pro’ advice from her CPA and her accomodator. I’m not countin’ her banker, who endorsed her actions, as I’m sure she had no clue of the context.
Next April the IRS will show up with their palms up, asking for +/- $100,000.
Though I’ve said many times here and elsewhere that tax deferred exchanges don’t require the IQ of NASA scientists, the rules are the rules. It’s not for beginners or wannabes by any stretch. If you have a question, or wonder if your 1031 is gonna accomplish that for which it’s been designed, call or write me, and we’ll take a gander.
There’s no gray areas here people — it’s akin to gravity. It’s either your best friend or your worst enemy. Or, in a word? Unforgiving. Years of planning for retirement can be injured significantly by one signature.
BawldGuy Axiom: Grandma was right — closing the barn door when the horse is already long gone, doesn’t do ya much good. Pay attention.
As I alluded to at the beginning, every year I’m consulted by several investors, wondering if their exchange will pass muster. Don’t wanna instigate a surprise visit from Captain Obvious, but those questions are best asked before anything has closed escrow. Just sayin’…
Wanna learn some things? Listen to some of the 10-20 minute podcasts, located at the top, on the right. They’re relatively short, and very much to the point — substantive.
Enjoy your weekend. If ya wanna talk, go ahead and click the ‘Contact BawldGuy’ link up top. See ya
Posted on September 25, 2008 @ 11:37 pm - Written by BawldGuy
Ever wonder why the guy at yer office goes from one success to another? Sure, the usual reasons work, but the common denominator is almost always goals, which then lead to their version of what for decades I’ve been callin’ a Purposeful Plan.
A Plan without goals is an eighth grade creative writing assignment. Goals without a plan is a daydream that turns into a whole lotta nothin’ the moment your mind is refocused. A locomotive is of little value with no train to pull — and a 20 car train is goin’ nowhere without the locomotive’s power.
I’ve always envisioned the train as my goals, and the Plan as my engine.
Take some time and listen to the Purposeful Planning podcasts. They’re located at the top of the page on the right. Just click and listen. They’re not long, about 15 minutes give or take. Then, if you’re interested, give a listen to Grandpa Economics. That one surprises most who listen. Many have told me it’s what pushed them to get going.
And you thought this weekend was gonna be boring. Silly you. Read the rest of this entry »
Posted on September 25, 2008 @ 12:16 am - Written by BawldGuy
I was thinkin’ today about the national economy, and how the third reel of this sequel to the “We’re All Gonna Die” franchise is indeed followin’ the script. The tension finally reached a crescendo, and all the major characters suddenly showed up as if instructed by an invisible director. Friends and foes alike are now on TV singin’ from the same songbook and same song, if not always the same verse. The posturing by politicians of both sides is the Achilles Heel of this movie, as even first time movie goers, new to this franchise, can sense the false notes being sounded by many of the actors.
Behind the scenes you can imagine the panic as so many of them shed their brave fronts while lookin’ to the calm, experienced leaders with the real power to take charge. The real power is now tellin’ the faux power how it’s all gonna shake out. It’s been like this since one man had power over another. But I digress.
No matter where twisters show up, weak or strong, they’re local in nature. There are no exceptions, nor have there ever been. Real estate behaves similarly. Grand Rapids, Michigan can be depressed, while Mesquite, Texas is thriving. This dichotomy can exist in times both boom and bust. It’s quite a paradox at times, to say the least. Read the rest of this entry »