Greetings from the male side of the family. This is my first attempt at blogging and I wanted to get into it since Jill loves it so much. I also think it is a great way to keep in touch with everyone. Our garden was melted by freezing rain. I know that sounds crazy but if you could see all the plants after they froze you would think they were melted too. I was too anxious to plant when everyone kept telling me it isn't safe to plant before Mother's Day in Utah. I didn't listen and now I am planting again. Many things didn't die but the expensive stuff did. I did have a lot of seeds in the ground and they are coming up now. One of the coolest things about Disneyland was that they often used vegetables in their landscaping. We walked by one really nice area and noticed that everything growing was a normal garden plant. Peppers, strawberries, lettuces, and all kinds of vegetables. I loved Disneyland.
For all of you who don't know I started a new job this week. It was the first career job that has come along since we moved to Provo. It also happened to come along right when I was completing my MBA which I will finish on Monday. I am a Finacial Advisor for Guardian. Guardian is a very large and very old company. Jill and I are both very excited about it. Here is what I will be doing. I will take an individual person, family or business and help them organize their finances and so that they can invest in their future. It is not a bad job. Everyone loves you because you help them make money. Jill and I met with the head of the Salt Lake office (Terry) the other day and he was great. He seems just as excited to have me on board as I am to be on board. Jill mentioned that everyone was genuine and honest. We both felt like it was the right place, the place I am meant to be.
I will probably post information about finances for all you readers so you can make better decisions with your money. If anyone has any questions about finances you can ask on the blog, if I don't have an answer then I'll figure it out. I am always up for a challenge.
Until next time.
Please Read Jill's Disneyland Post Below.
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8 comments:
Oooh! I have a question David! My David and I have a money market account at a finacial institution that will remain nameless due to teir lameness. Anyway we have a substancial amount of $$ saved that we have been saving since we got married. We recently found out that our Monay Market insn't really a money market, they just call it that, is that even legal? so for the last year or more we thought we were making pretty good interest on our saings when really we've only been earning 0.02%. What other options do we have in keeping our assets liquid while earning a much higher interest rate? Any advise?
Oh, Dave, I just want to say YOU GUYS ARE SO AWESOME! Trav and I love you guys so much! you guys are so sweet and genuine and how lucky we are to have you guys as friends and neighbors! I am so excited for your new job; it sounds like you'll help so many people. I am sure Trav and I will have a lot of questions about investing and financial management in the future so it's so nice to know there is someone we can always turn to.
p.s. Sorry about your plants:( We were few inches away when the tragedy happened yet we couldn't do anything...We just muttered "Oh-Oh."
Money Market accounts are commonly regular savings accounts with a bank only the bulk of the interest earned is kept by the bank and the depositor gets a small % for keeping their money in the account. I think of them as a regular checking account with no real earning potential.
There are other better accounts with great liquidity that have high guaranteed returns around 4.5% or more. If you don't need much liquidity then you could get even higher guaranteed rates, such as 7% and higher. Some accounts are guaranteed to double in 10 years, triple in 15 with average increases higher than the gauranteed. All of this is about as safe as a CD from a average bank. The details explain how these results are so possible and so safe, and so proven and not based on housing markets or fads.
Keep asking questions everyone.
Congratulations David! It sounds like an awesome job! I also have a question, if you buy a house,is it a good idea to pay off faster than your lone, or will the make your taxes higher? [does that makes sense?]
So sorry to hear about the garden. It is so sad to lose your little plant babies to the weather! Congrats on the new job though!
Sister Cothran
Interest on a mortgage payment is tax deductable. If you itemize your deductions you can deduct all your mortgage interest each year. During the first few years of a new mortgage nearly all your payments represent interest, toward the end of your mortgage, mostly principle. If you pay your home off faster with larger payments then you will reduce the number of years with low interest payments in which you aren't able to deduct a significant amount of your mortgage payment on taxes, because most of your payment would be principle not interest. This means that you will have fewer years of deducting mortgage interest on your taxes. So yes your taxes would be higher if you had less/no mortgage interest to deduct. You can deduct interest from mortgages on one home and one "vacation home", and in many cases two mortgages on the same home.
Did you know that if you borrowed money from the cash value of your whole life insurance policy to buy or pay off a home, that the interest from that loan is tax deductable even though you owned the money in the first place? It would be like borrowing money from your savings account with the intent to pay it back, only the interest you pay is added to your savings account. When your done you have much more money than you had before and all the interest you paid into your account was tax deductable. In fact you don't even have to pay it back if you don't want to. When's the last time you heard a bank say that about a mortgage?
For all you parents out there. Cash values on whole life policies are not normally considered when calculating financial aid need. So when your kids go to college and apply for financial aid they don't have to mention the large cash value of your whole life policy. Remember that if you borrowed funds from your cash value for your kids college expenses that all the interest paid back on those loans goes right back into your account. You have more money than you started with. If you don't wan't to pay the loans back you don't have to. Its your money. Government backed school loans, like FAFSA loans must be paid back no matter what.
If you have any more questions, shoot away!
Hi David, thanks a bunch, to know really helps a ton!
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