A few years back, we financed the sale of business. The current owners are bored with this business apparently. We are being habitually contacted to negotiate the loan down, so they can feel free to walk. I have made many choices in my life that didn't turn out the way I thought, but I have never asked another party to lose money because something didn't fit with me.
I cannot help but wonder if the entire premise of this buyers logic going in, was one of SELF-EMPLOYED = NO WORK. Anyone that has ever be self-employed knows that you work harder than being an employee. Of course, the rewards should exceed the employees benefits as well...if you do the right things.
This was an established business, with many loyal customers.
Anyway, the future may be up in the air for a while until we all reach some kind of agreement.
Tuesday, February 28, 2012
Sunday, February 26, 2012
Woo-Hoo! Grades Finally Posted
Remember that agonizing exam I took Tuesday evening? 15-pages of memorized definitions and procedures. Very difficult exam, in my opinion (and other students I've spoken with). Like I stated in my early post, I know I am learning a lot and isn't that the goal here?
After the exam I sort of resigned myself to a "C" for the grade on the exam and a "B" for the course. Grading based purely on the magnitude of the work. Honestly, there were some questions on the exam, that I never recall in the materials. I basically relied on common sense and the process of elimination. I
Well I did way better than I imagined. I got an "A", based on the professors grading scale. I'm so excited. Of course, this means I need to work even harder for the next exams - because I studied my tail off and still struggled. I nearly went the entire two hours of testing.
Most of my homework is done for the week. I'm planning on cleaning house, grocery shopping and maybe some cooking for the week ahead.
Have a great Sunday!
After the exam I sort of resigned myself to a "C" for the grade on the exam and a "B" for the course. Grading based purely on the magnitude of the work. Honestly, there were some questions on the exam, that I never recall in the materials. I basically relied on common sense and the process of elimination. I
Well I did way better than I imagined. I got an "A", based on the professors grading scale. I'm so excited. Of course, this means I need to work even harder for the next exams - because I studied my tail off and still struggled. I nearly went the entire two hours of testing.
Most of my homework is done for the week. I'm planning on cleaning house, grocery shopping and maybe some cooking for the week ahead.
Have a great Sunday!
Saturday, February 25, 2012
What to do with a windfall
The Wall Street Journal has an article today, providing guidance for folks that are blessed with a windfall. I agree with the article that this is a dream of most people. It's like the fantasy of what I would do with a huge lottery winning. I think as human beings we need our dreams, otherwise what are we striving for?
At any rate, I found myself chuckling at the article in the WSJ. I feel it is all common sense, but based on the reality experienced by most winners of the lottery - it isn't. My advice, lock the money away, even from yourself. Put it in a trust, that doesn't have a name including any identifiable characteristics of you. And be the trusty for this trust.
Set the trust up from day one to disburse no more than 50% of earnings per year, including expenses. The trust should be invested into relatively safe vehicles like a mutual fund, or any other diversified items. Just do not have all your cookies in one cookie jar.
The disbursements can be 100% to you or divided as you see fit between yourself, children, etc. Treat the trust like a business. Delegate the successor in case something should happen to you.
Then sit back and collect from the trust as you set up on day one. Again, you must live within your means, but this is a relatively secure stream of income. And if invested properly should continue to grow annually in disbursement size.
A properly structured trust should flow to future generations, by passing probate and taxes.
That said, stop listening to me or others and speak with professionals should you be on the receiving end of big cash! It will be worth it in the long run.
At any rate, I found myself chuckling at the article in the WSJ. I feel it is all common sense, but based on the reality experienced by most winners of the lottery - it isn't. My advice, lock the money away, even from yourself. Put it in a trust, that doesn't have a name including any identifiable characteristics of you. And be the trusty for this trust.
Set the trust up from day one to disburse no more than 50% of earnings per year, including expenses. The trust should be invested into relatively safe vehicles like a mutual fund, or any other diversified items. Just do not have all your cookies in one cookie jar.
The disbursements can be 100% to you or divided as you see fit between yourself, children, etc. Treat the trust like a business. Delegate the successor in case something should happen to you.
Then sit back and collect from the trust as you set up on day one. Again, you must live within your means, but this is a relatively secure stream of income. And if invested properly should continue to grow annually in disbursement size.
A properly structured trust should flow to future generations, by passing probate and taxes.
That said, stop listening to me or others and speak with professionals should you be on the receiving end of big cash! It will be worth it in the long run.
Friday, February 24, 2012
"In grace period"
Oh no, I could be experiencing my first burn from Lending Club. I made a loan a while back for 60 months. The first and only I believe. Remember I haven't been funding Lending Club for a long time.
Anyway, I clicked in to look at my payments received and notice that the long-term (to me) note is showing "In Grace Period". Hmmmm... Well, the prior payments flowed between the 16th and the 19th every month and I have not received a payment in February. What is today? Oh that's right the 24th. Just a tad late.
So, what is this "In Grace Period" and who's grace period are they in. Certainly not mine. I pay my bills prior to the due date and call me foolish, but thinking folks should make them by the due date is not far from my views. Of course, things happen.
I am not so much upset about the delay of payment. What bothers me is how Lending Club is posting this issue. They say "In Grace Period", but my loan page doesn't even show the February payment line. Instead it goes from January to March. Something is wrong with this. You can show March since that payment is the next fish to fry (feeling the lenten thing?), but you shouldn't make the February line disappear. BOTH payments should be received.
Well this one could hurt. They owe me $18.55 without interest. :(
Anyway, I clicked in to look at my payments received and notice that the long-term (to me) note is showing "In Grace Period". Hmmmm... Well, the prior payments flowed between the 16th and the 19th every month and I have not received a payment in February. What is today? Oh that's right the 24th. Just a tad late.
So, what is this "In Grace Period" and who's grace period are they in. Certainly not mine. I pay my bills prior to the due date and call me foolish, but thinking folks should make them by the due date is not far from my views. Of course, things happen.
I am not so much upset about the delay of payment. What bothers me is how Lending Club is posting this issue. They say "In Grace Period", but my loan page doesn't even show the February payment line. Instead it goes from January to March. Something is wrong with this. You can show March since that payment is the next fish to fry (feeling the lenten thing?), but you shouldn't make the February line disappear. BOTH payments should be received.
Well this one could hurt. They owe me $18.55 without interest. :(
Wednesday, February 22, 2012
15-Page
Last night, I took an exam that was very difficult. I studied more than usual, because of the conceptual nature. This is a topic that is 100% new to me and I have been studying on a regular basis since the course began. Let me just say - thank goodness I did. Wow, the exam was excruciatingly hard. I nearly collapsed at the sight of the fifteen page document. There were many items I knew with just a glance, but others had me questioning if I even covered it in the text or classroom notes. Now, I wait for review.
I do feel like I am learning an enormous amount of information - so this is a good thing. :)
I think the worst part of the exam, was that it is at night. I am not a night owl.
Happy Ash Wednesday everyone!
I do feel like I am learning an enormous amount of information - so this is a good thing. :)
I think the worst part of the exam, was that it is at night. I am not a night owl.
Happy Ash Wednesday everyone!
Saturday, February 18, 2012
Books I'm Reading
For my birthday I received a beautiful leather bound book from a friend. This book is titled Jesus Calling - Enjoying Peace in His Presence. Picture here is the book on Barnes & Noble, but mine is one that is a beautiful collector item - not worth $ though. :)
I love these books that deliver a new message everyday. Many times I just feel like the message was intended for me. What makes this book different and better then others, is it is written in a way that God is talking to you. Anyway, I would highly recommend it if you like those little short daily inspiration's or know someone that does.
For my relaxing time I am reading The Hunger Games Trilogy. My daughter read them and wanted me to share the experience with her. Much like the Twilight Series, I am a mom who likes to connect with her children, so I read. I have finished book 1 - The Hunger Games and book 2 Catching Fire. I have just begun book 3 Mockingjay.
This collection takes place in the future. There has been some sort of situation that isn't the topic of the book, but note that the U.S. is no more. In an effort to control people, they are separated into 13 districts, with limited food or necessities. Annually the people in power, that reside at the Capitol, conduct the Hunger Games. Each district must select two children, one male and one female, to compete at the games. This competition is a fight to the death. Which ever child makes it out alive - they are celebrities and live in riches in their district. [My daughter says these books are free for the Kindle, but I'm reading the old fashioned way]
Maybe not the best written book, but I can understand why the young people are interested. It begins slow, then moves fast. Book two had a cliff-hanger that made me jump into book 3. I cannot imagine being a parent or a child in this terrible new world. I do find myself rooting on the main character and toiling with her on the choices that must be made.
Friday, February 17, 2012
Another one bites the dust
I have been swamped! That's a good thing, otherwise I am making no money and/or not working on my education. :)
Yesterday, my day to work in the office, was very productive. Not enough to ward against a large list of to-do's for the weekend, but still sufficient in achieving that comfort zone that says "I have control over this mess."
I'm still a bit under the weather, but much better than I was just a few short days ago. I'm hoping that I can return from classes and either complete a large portion of next weeks homework assignments and study for a BIG test, or get some groceries in the house. We don't even have milk. It is turning into a desperate situation.
Work has slowed for the company, but it is only a lull. We have many jobs lined up and we are finding it necessary to turn work away. I think the economy is moving nicely around here now. This lull is digging into our cash though. My husband is re-doing furniture pieces and building new for our house. So far I have received a beautiful antique cabinet for the living room and he is currently building from scratch a cherry wood vanity that will match our Amish bedroom furniture. I love these items that I know will not be in anyone elses home! Most things are assembly line built anymore.
Have a great day folks!
Yesterday, my day to work in the office, was very productive. Not enough to ward against a large list of to-do's for the weekend, but still sufficient in achieving that comfort zone that says "I have control over this mess."
I'm still a bit under the weather, but much better than I was just a few short days ago. I'm hoping that I can return from classes and either complete a large portion of next weeks homework assignments and study for a BIG test, or get some groceries in the house. We don't even have milk. It is turning into a desperate situation.
Work has slowed for the company, but it is only a lull. We have many jobs lined up and we are finding it necessary to turn work away. I think the economy is moving nicely around here now. This lull is digging into our cash though. My husband is re-doing furniture pieces and building new for our house. So far I have received a beautiful antique cabinet for the living room and he is currently building from scratch a cherry wood vanity that will match our Amish bedroom furniture. I love these items that I know will not be in anyone elses home! Most things are assembly line built anymore.
Have a great day folks!
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