As most of my faithful readers know, (do I have any faithful readers?), I was working in Los Angeles on Thursday and Friday and then spent the weekend touring around LA seeing friends that still reside in that wonderfully, horrible, paradoxically subverted city.
So that completely cramped my running, as I had dinner functions every night until very late, and had limited ability to get up early and run as I was living on 4-5 hours of sleep a night. That being said I did run twice and learned a few things about myself and running.
On Thursday morning after a week of being lazy I left the hotel at about 6 in the morning to run up to Dodger's stadium. It was a solid 6 mile run from Downtown LA and a gorgeous reminder of one of the many reasons I run: to explore new areas of the city and to feel like I am part of the community. It ran fast and the weather was perfect, reminding me of the many mornings I have run in Southern California. It was nolstalgic it the most wonderful way. Also, I love running up to sporting venues and seeing them clean and without the chaos of the actual event. It reminds me that life can be slower and quieter than 50,000 fans roaming around a venue.
So the next two days were again full of dinner, drinking, and well too much partying late into the night, so I did not manage to run at all until Saturday evening. I managed to sucker a buddy of mine into going for a run, as he is supposedly training for a 10K. By that I mean he has run maybe 4 miles before I went out with him. So we went out and ran 3.5 miles, at a slower pace than normal but it was good. It was the first time in almost a year or more that I have run with someone. I normally go run on my own to figure out my problems and take a break. I actually liked running with someone else. It was good to talk out some of my issues. I was able to easily talk and 3.5 miles really raced by as my buddy and I chatted away. It was good. That being said, I do not have any friends in San Fran that like to run, but I am now officially on the look out for friends that would like to run at least once a week. I know I will want to keep my solo running most of the time, but It will be fun to find a running partner at least a few times a week. So running clubs and runners beware, Thor is on the look-out.
-Thor
Monday, April 16, 2007
Thursday, April 5, 2007
Links for the Day
I came across two superb articles today as decscribed below:
Cost of Living: the Grim Reality.
Introduction to Investing.
Both of these articles are exactly the kind of thing that young investors and savers need.
-Thor
Cost of Living: the Grim Reality.
Introduction to Investing.
Both of these articles are exactly the kind of thing that young investors and savers need.
-Thor
Friday, March 23, 2007
Impulse Buys
Every once in awhile I really go hog wild and buy something outside of my routine. Usually this something has to do with my hobbies which include anything outdoors(fishing, backpacking, hiking, running, etc) or traveling.
So this past weekend as I had threatened to do with my bonus I went out and bought a road bike. It was within my $400-$800 price range, actually $680 to be exact. It was just what I wanted and it should last me for a longtime.
The best part about it though, is that I saved (or rather used an inconsequential amount of my bonus) for the bike and will not have any credit card debt or any remorse when I have to forgo my normal lifestyle to pay for the bike. I felt apprehensive about making a large purchase but since I could write a check for it, I knew it was acceptable.
As I am about to write a rent check for next month, I realize how important it is to take care of yourself once in awhile by purchasing items to make yourself happy but also to spend cash for these items so that you do not regret the purchase or have to pay off the purchase for months.
Any stories you have impulse buys?
-Thor
So this past weekend as I had threatened to do with my bonus I went out and bought a road bike. It was within my $400-$800 price range, actually $680 to be exact. It was just what I wanted and it should last me for a longtime.
The best part about it though, is that I saved (or rather used an inconsequential amount of my bonus) for the bike and will not have any credit card debt or any remorse when I have to forgo my normal lifestyle to pay for the bike. I felt apprehensive about making a large purchase but since I could write a check for it, I knew it was acceptable.
As I am about to write a rent check for next month, I realize how important it is to take care of yourself once in awhile by purchasing items to make yourself happy but also to spend cash for these items so that you do not regret the purchase or have to pay off the purchase for months.
Any stories you have impulse buys?
-Thor
Thursday, March 15, 2007
Bonus: Save or Spend
Well as I am fairly young in my career and thus fairly green in my financial goals; this is the first year I have had the good dilemma of what to do with my bonus. Let me talk you through a couple of ideas that I had when I found out a year ago that I was getting my bonus:
1. I finally get the money I have worked so hard for
2. I wonder how big it will be?
3. If it is big will I just blow it on something like a car?
4. I wonder if it will get me close to a down payment on a house?
5. Since I didn't expect this shouldn't I just get some instant gratification?
6. If it large and I don't spend it, what do I do with it?
So with all these thoughts in my head I decided to sit down and think through my financial goals which are prioritized by:
1. Build an Emergency Fund (Done so the money should not go there)
2. Down Payment on a House (Not done, but then again I am no where close, but very little bit helps)
3. Retirement (401K and Roth IRA save now and play later)
4. Spend money on hobbies & travel while I have the health
5. Invest because it is fun and worthwhile
So I jotted this all down and came up with a plan. I am already a stingy guy, so it was easy to rationalize spending very little or no part of my bonus on hobbies or material goods. In fact I usually do not buy the newest, best, or brightest because I feel that this does not add to my happiness but rather detracts when I see a hole in my cash flow for the month. So that being said I decided that I would spend something on myself, as I deserve it, but I wanted to save considerably more for the house down payment and travel plans later in the year (no credit card debt required).
So I decided that I wanted a road bike and set a budget of $800 for a bike and related accessories. Given I already have the helmet, lights, etc. So I just needed shoes and a jersey really. It also helps that my brother works at a bike shop and can get me a good deal. So with that I then decided I would split the remainder of my bonus 50/50 between savings for a trip and the house down payment.
As I already have a way to fund my Roth IRA for 2006 (based on previously saved money) this seemed like a logical choice.
I do feel that maybe I put too much into trips but then again, I want to travel when I can and combined Carrie and I are saving close to 12% of our income every month for retirement not including additional money we put away for our first(dream) home.
Any comments or suggestions on what I might have done?
-Thor
1. I finally get the money I have worked so hard for
2. I wonder how big it will be?
3. If it is big will I just blow it on something like a car?
4. I wonder if it will get me close to a down payment on a house?
5. Since I didn't expect this shouldn't I just get some instant gratification?
6. If it large and I don't spend it, what do I do with it?
So with all these thoughts in my head I decided to sit down and think through my financial goals which are prioritized by:
1. Build an Emergency Fund (Done so the money should not go there)
2. Down Payment on a House (Not done, but then again I am no where close, but very little bit helps)
3. Retirement (401K and Roth IRA save now and play later)
4. Spend money on hobbies & travel while I have the health
5. Invest because it is fun and worthwhile
So I jotted this all down and came up with a plan. I am already a stingy guy, so it was easy to rationalize spending very little or no part of my bonus on hobbies or material goods. In fact I usually do not buy the newest, best, or brightest because I feel that this does not add to my happiness but rather detracts when I see a hole in my cash flow for the month. So that being said I decided that I would spend something on myself, as I deserve it, but I wanted to save considerably more for the house down payment and travel plans later in the year (no credit card debt required).
So I decided that I wanted a road bike and set a budget of $800 for a bike and related accessories. Given I already have the helmet, lights, etc. So I just needed shoes and a jersey really. It also helps that my brother works at a bike shop and can get me a good deal. So with that I then decided I would split the remainder of my bonus 50/50 between savings for a trip and the house down payment.
As I already have a way to fund my Roth IRA for 2006 (based on previously saved money) this seemed like a logical choice.
I do feel that maybe I put too much into trips but then again, I want to travel when I can and combined Carrie and I are saving close to 12% of our income every month for retirement not including additional money we put away for our first(dream) home.
Any comments or suggestions on what I might have done?
-Thor
Tuesday, February 27, 2007
Market Declines
The Dow declined by over 400 points or 3% this afternoon as did other market indices.
See the article here
Buying opportunity?
Selling time?
Wait and hold?
Comments please.
-Thor
See the article here
Buying opportunity?
Selling time?
Wait and hold?
Comments please.
-Thor
Thursday, January 25, 2007
Longer Term Goals for the Young
I have been reading about various financial goals for the near term, short term, and long term the might apply to me and my audience. So in that vein I wanted to come up with a typical wish list for a 25-35 year old. Something that is likely a 3-5 year goal and requires patience, persistence, and discipline. I will also add some of the goals that people might want to accomplish but don't know how or might not have thought of.
1. Pay off credit card Debt - this seems to be the easiest to understand but the most difficult to do. The best advice I can give is to set realistic goals on how much extra you can pay down per month to accelerate this process. The interest payment on your credit card is by far the most costly item in your monthly bills that you truly get almost nothing for. In order to keep this going, some people need to put away the credit cards and only pay for items with cash.
2. Build up a cash emergency fund - you should likely do this somewhat simultaneously as paying off the credit card debt, so you can begin to get used to saving and relying less on the credit card. Place this cash in ingdirect or hsbcdirect or some other money market fund to get a decent return. The idea is to have this money in place for awhile, not being zeroed out.
3. Save for a House - the key to this is to achieve the first two goals and then pay yourself first. Make sure you make an automatic saving every month or every paycheck that is specifically designated to your house down payment. This will ensure that you do not use this fund as a cash emergency fund or a fund for that big screen television. (Save up for those items separately from the house down payment).
4. Start Investing - this can be achieved in so many ways and should be tackled in numerous ways. Start by contributing to your 401k at work, maximize this up to the employer's match at least. Also, if you can spare extra money (which might be unlikely due to the house down payment fund) invest a sum every month. Make it automatic by saving at the beginning of the month in an investment fund to force yourself not to touch that money. To open an investment fund see any of the following brokerage services: Schwab, TD Waterhouse, Etrade, etc.
5. Travel, Hobbies, Etc - while this might not be a concrete financial goal, having a balance in life between saving and spending can be very important. Some people binge on large purchases because they have been tightwads for the past three months. Then these same people spend the next three years paying off the credit card binge. Remember to save for the things you want, whether it be a trip to Thailand, a big screen tv to watch the game, a road bike for your triathlon training, or anything else you want to enjoy life. But remember that credit card debt will ruin all the other goals.
So with that being said, I hope to accomplish these goals and maintain long term financial discipline well into and past my middle ages.
-Thor
1. Pay off credit card Debt - this seems to be the easiest to understand but the most difficult to do. The best advice I can give is to set realistic goals on how much extra you can pay down per month to accelerate this process. The interest payment on your credit card is by far the most costly item in your monthly bills that you truly get almost nothing for. In order to keep this going, some people need to put away the credit cards and only pay for items with cash.
2. Build up a cash emergency fund - you should likely do this somewhat simultaneously as paying off the credit card debt, so you can begin to get used to saving and relying less on the credit card. Place this cash in ingdirect or hsbcdirect or some other money market fund to get a decent return. The idea is to have this money in place for awhile, not being zeroed out.
3. Save for a House - the key to this is to achieve the first two goals and then pay yourself first. Make sure you make an automatic saving every month or every paycheck that is specifically designated to your house down payment. This will ensure that you do not use this fund as a cash emergency fund or a fund for that big screen television. (Save up for those items separately from the house down payment).
4. Start Investing - this can be achieved in so many ways and should be tackled in numerous ways. Start by contributing to your 401k at work, maximize this up to the employer's match at least. Also, if you can spare extra money (which might be unlikely due to the house down payment fund) invest a sum every month. Make it automatic by saving at the beginning of the month in an investment fund to force yourself not to touch that money. To open an investment fund see any of the following brokerage services: Schwab, TD Waterhouse, Etrade, etc.
5. Travel, Hobbies, Etc - while this might not be a concrete financial goal, having a balance in life between saving and spending can be very important. Some people binge on large purchases because they have been tightwads for the past three months. Then these same people spend the next three years paying off the credit card binge. Remember to save for the things you want, whether it be a trip to Thailand, a big screen tv to watch the game, a road bike for your triathlon training, or anything else you want to enjoy life. But remember that credit card debt will ruin all the other goals.
So with that being said, I hope to accomplish these goals and maintain long term financial discipline well into and past my middle ages.
-Thor
Wednesday, January 24, 2007
Links for 1-23--2007
Below are some interesting links that I have read in the past couple of days:
The Best Investing Advice You'll Never Get - It is a bit long but an interesting read about index funds.
Predicting The Next Walmart - always good analysis from the Fool
The Best Stocks of the Millenium - again a thoughtful Fool article about individual stocks
Enjoy.
-Thor
The Best Investing Advice You'll Never Get - It is a bit long but an interesting read about index funds.
Predicting The Next Walmart - always good analysis from the Fool
The Best Stocks of the Millenium - again a thoughtful Fool article about individual stocks
Enjoy.
-Thor
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