Weekend Reading: From Taco Bell to Mortgages

Hazzard points out the story of a Taco Bell employee fired after 30 years of service, including two robberies and being shot once. Seems a bit like ageism to me. I see very little loyalty to companies these days… I wonder why?

Madame X explores if there is any connection between the amount you spend on food and obesity. Apparently at least one of her readers thinks spending $800 a month of food can’t be healthy.

Sun investigates some international dividend ETFs. Seems like ETF offerings are growing exponentially these days, I can’t even keep up.

Joseph Sangl made a graphical way to track his mortgage payoff process. Looks like so far he owns either his garage or living room. That’s one more room than me!

Weekend Roundup: Open Portfolios, New ETFs, Old Jobs, and More

As I catch up on my feed reader, here are some posts from other bloggers that I found interesting:

The Digerati Lifeshares her latest portfolio update. I love open portfolios, I don’t know why.

Lazy Man has left his job, and his wife explains why that’s okay. I left my job about 2 years ago to go back to school and switch specialties, and my wife was very supportive, which made all the difference in the world. Best decision ever. You gotta be able to chase your dreams, even if you’re married!

IndexFundFan noted the arrival of an Emerging Markets Small Value ETF. Holy non-correlated-asset-classes, Batman! I like having more competition and choices, but I don’t think I’ll partake of this one. I wonder what the tracking error on this thing will be.

Get Rich Slowly states that a credit card is not an emergency fund… but then shares a story where it was ;). It was in a small business setting, though – should that make a difference?

CFO tried Dream Dinners, where you make your own take-out for a week. She liked it the first time, but not the second time. I still get a steady stream of comments on my old Dream Dinners post, although I must admit I never cleared out enough space in the freezer to actually try it ourselves.

Yodlee, Bank Of America MyPortfolio Updates

While getting the numbers for my monthly net worth update, I noticed that Yodlee has added a number of new accounts to their aggregation list. Specifically, I use the licensed version at Bank of America called MyPortfolio. So if you haven’t checked in a while, you might be pleasantly surprised – I think they actually cover all my accounts now. Here are a few sites that I just added, along with some info on why I have an account with them:

Zecco Broker Review, free stock trades!
TradeKing Broker Review, award-winning broker, $4.95 trades
FNBO Direct Review, new online bank with 0.65% APY Promo
Bridgeway Mutual Funds Info, I hold the BRSIX micro-cap mutual fund

See here for more on Yodlee and why I use it.

Financial Festivals and Carnivals

Here are some happenings from the blog festivals and carnivals that I’ve participated in recently:

The Carnival of Personal Finance included our Roth or Traditional 401k decision process.

My pick from this Carnival was the sarcastic Ah… The Joys of Home Ownership by Grad Money Matters. He talks about how the accessories for a microwave can cost as much as the microwave itself! I found this timely as we were looking at washing machines the other day, the optional pedestals they come with cost upwards of $200! Is it me, or are these things just empty metal boxes. You could buy a entire new washing machine for around $250.

The Festival of Frugality at FILAM Personal Finance included my MagicJack Phone Review.

Here I liked the Is This Frugal? .. Or Just Not Quite Right? by Money, Matter, and More Musings. While I don’t hoard ketchup packets, I’ll admit that I do grab a few extra salt packets when on one of my rare fast food visits if they are the “dual cylinder” type. You know the ones… the salt is finer than usual, and I keep them around to put on microwave popcorn. Once I get two or three, I stop collecting them. Whew! It felt good to get that off my chest.

What Do You Want To Read About?

I’d like to know what topics that you’d like to read about here. Got a burning question in mind? Simply leave a comment below. Keep in mind, the more specific the better.

As usual, I can’t make any promises, but I will take each suggestion into consideration. Thanks!

Financial Festivals and Carnivals

Here are some blog festivals and carnivals I participated in recently:

The Carnival of Personal Finance included my profit calculation tool for making money from credit cards.

My pick from this Carnival was Top 10 Wealth Building Ways Of Ordinary People by Digerati Life. The post covered a lot of ground and reminded me of the many different comments from real people on my post exploring who’s earning six figure salaries.

The Festival of Frugality included my post on how we pre-plan our food shopping at Costco.

Here I liked the review of Restaurant.com savings certificates by Living Almost Large that basically mirror my feelings on the subject. 95% of the restaurants on this list are either overpriced, serve mediocre food, or both. Coupons at restaurants are usually not a good sign.

Deadline For Transferring 403(b) Plans Approaching

I’ve been reading up more on 403(b) plans since my wife is getting one. Although similar to a 401(k) in many ways, there are some important differences. Did you know that if you are unhappy with your administrator, you may be able to transfer it to another provider without changing jobs? This is called a 90-24 transfer. The catch is that the plan must allow for such transfers.

But you’ll have to act quickly, as the Financial Page blog reminds me that the deadline for a 90-24 transfer is coming up on September 24, 2007. (You can still move the plans if you change jobs.) Read more on the 403bWise page on 90-24 transfers, as the transfer can be somewhat tricky.

Weekly Money Carnivals

Now that I’m getting a bit more settled, I’m making an effort to get back to being more active in the blogging community. Carnivals are a place where blogs get together and share posts pertaining to a specific topic. Here are a few that I participated in recently -join me in perusing them and sharing what you found especially helpful.

Did I Refer You To Sprint SERO or Scottrade?

Whenever I participate in a referral program, although it also benefits me, I am always thankful for the readers who let me refer them. So when I run out of referrals, I try to “spread the love” by directing future requests to those that allowed me to refer them initially. I have been doing this informally up until now, but I want to set up a more direct and systematic way to do this over the weekend.

Here are two programs that I can’t provide referrals for anymore. If I referred you to these referrals initially, and you are willing to release the needed information in order to fill future requests, please let me know and I will add you to the rotation. If I don’t get enough response, I will open it up to all readers. Please don’t ask for referrals in the comments, e-mail me instead. Thanks!

Sprint Referral Program – For new accounts, allows both referrer and referred Sprint wireless customers to both earn $25. I will need to share your Sprint wireless phone number.
Scottrade Referral Program – For new accounts, allows both referrer and referred to earn 3 free stock trades. I will need your full name and e-mail address, and preferably the address of your local Scottrade office.

Updated About Me, Net Worth, and Advertising Pages

I have been neglecting some of the supporting pages on this blog, so I spent some time tonight freshening them up:

  • Updated my About Me page to include more current and descriptive information.
  • Simplified the site’s Advertising options, and changed to an easier payment system which requires less maintenance.
  • Updated the links and graphs in my Net Worth history section.

Will Income and Social Security Taxes Go Up Or Down In The Future? A Look Back

Everybody says up, right? While I can’t predict the future, I thought it would be interesting to see what the historical tax rates were for different income groups. Here is some data taken from the Congressional Budget Office about historical federal tax rates as a percentage of “comprehensive household income”, defined as pretax cash income plus income from other sources like rental income and dividends. Note that this isn’t the same as your marginal income tax rate, which is the tax rate on your last dollar earned; This is a percentage of all your income.

altext

As a reference, here are the quintiles for annual household income as defined by the US Census Bureau in 2005:

1st Quintile: $0 – $18,500
2nd Quintile: $18,500 – $34,738
3rd Quintile: $34,738 – $55,331 (Median: $46,326)
4th Quintile: $55,331 – $88,030
5th Quintile: Over $88,030

Looking at the chart, it seems that the top quintile has paid about the same amount overall, while the overall effective federal income tax rate has actually fallen for the rest.

Now, what about social insurance payroll taxes that go towards Social Security and Medicare? These have been going up over time for just about everybody:

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I even added a linear trendline, which although completely unscientific, suggests that if such a trend continues the effective percentage will increase approximately 1% every 20 years.

Life Updates: Moving, New Jobs, New Housing, And Clutter

Whew! I’ve slept in seven different beds so far in the last two weeks, not including airport lounges. How about some updates?

The Big Move. Sadly, we no longer in Oregon. We are leaving a great city, great food (tachos and microbrews!) and even greater friends. Luckily, we managed to secure a very generous relocation package from our employer, complete with full-service movers that packed almost everything for us, from the dishes to the furniture. The bad news is that we had a lot less incentive to properly shed ourselves of all our clutter, and instead it’s coming with us. 🙁 I’m keeping our exact location vague for privacy reasons, but I’ve hinted before that it has a high cost-of-living and is near the Pacific Ocean.

New Digs. We are actually going to be staying in a relative’s extra rooms for now. We have been living out of suitcases for a while now and it has actually been nice, so the plan is to keep living as such for as long as we can. If we don’t find any acceptable houses to buy, we will then start to look for another house to rent. Our biggest problem currently is trying to convince our relatives to accept money from us!

New Jobs. Soon after we arrive we will be starting our new jobs. Again I won’t name our employers, as sharing detailed financial information anonymously online is one thing, but sharing them with co-workers is another. I will reveal that we will now both be making six-figure incomes, and they are in categories listed in my six-figure salary survey results. Accordingly, you will be seeing a boost in our monthly net worth changes.

I’m 29 years old now. I know the number shouldn’t matter, but I’m sort of happy that all these things have happened before I turned 30. We are not millionaires or anything spectacular, but we are settling down somewhere for the long haul, surrounded by family, gainfully employed, and moving forward. What more could one ask for?