Hi graywings, I started reading this thread without noting the dates the posts were written. Dave, I don't want to put you on the spot, but I am wondering how the accounts you spoke of in 2007, the 72c Guaranteed Savings accounts (equity-indexed fixed life contract, or annuity contract) have weathered over the last three years. Heh... you can "put me on the spot" in this regard *ANY* time ;~) Both the equity indexed life & annuity products have *VERY* strongly outperformed the unprotected stock index markets over the same periods of time (since 2007. In fact, going back from today to almost as far as you'd like.) Their design is that they capture & credit any annual upside (to a maximum gain,) and lock that amount permanently to your credit. On any years with a downside, your account sits tight with no losses at all (guaranteed by the insured backings of the company reserves and the state's guarantee association (each state's equivalent of a regional "FDIC" in essence.) If you put $100,000 in the S&P 500 for the last decade, you'd actually be holding a bit LESS than $100,000 today (not deducting the tax or management fees that may also be applied.) The same $100,000 in an insured indexing account would be approximately $211,768, net of everything (taxes & fees,) *OR* about an average annual tax-free rate of return of 7.06% Alternatively, those folks who decided to take their working capital OUT of growth, and put it into their real estate equity, have been double-stung; Not only have they gained nothing toward retirement, their equity values have decayed from 10-30% (depending on the area.) The clients who've been with us the last 3-5 years have been rather relieved, ecstatic, and pleasantly bored, all at the same time. Its a very nice financial reality to provide. Cheers, Dave Donhoff Leverage Planner (PS. to re-paraphrase celticmoon; When everyone else's retirement nest-egg is drowning deep underwater... its kinda nice to be riding on the back of a "duck" ;~)

You can get either death or disability insurance on your mortgage, or both. There's about four times the possibility of disability for an extended period that there is of death ... and, while a funeral is expensive, dead people don't eat, but disabled people do ... and may need medical/rehabilitative costs, as well. Some prefer to buy a term policy for one or both, themselves, for if the bank sets it up, they are the payee, not the person(s) purchasing the home, whle if the homeowner purchases it, they are the payee and it will be their responsibility to pay the lender. Some prefer to have coverage at a specific level throughout, rather than the decreasing value as the principal gets paid off, as usually there is little difference in premium, and as the debt is reduced through regular payment down of principal, there is some extra available to support the family in a difficult time. When paying student loan, usually one knows what portion of the payent goes for interest and which goes to pay down principal owing. But the level of mortgage payment remains level throughout, which means that in the early days of the loan, when the balance owing is high, the amount that goes to interest each year must be high, meaning that little of each payment goes to pay off principal. Many people pay little attention to the amount of principal that is paid off annually through the first few years, though many of them received a schedule showing what the ratios were at the time of each payment, throughout. They are greatly surprised when they find out how little of the principal has actually been paid, at the end of each year. They are suprised to learn that, in those early years, if they made an additional payment of an amount equal to one of the month's payment, designating it as to reduce principal only, it would reduce the balance owing by a larger amount than did all of the other 12 monthly payments. With student loans, the amount allocated to principal and to interest is more easily identifiable, I think. Good wishes. ole joyful

Hello all, The one and only auto-pay I have set up is thru my old credit union account. I have auto-deposit there for my checks. The CC with the auto-pay is also issued with/through them. (So, I'm not concerned about THAT one, since they already are "connected" - so to speak.) Also, that CC is the one I use for general purposes with a very low balance. I've not had a problem with that, nor any concerns, BECAUSE it is always a low balance - or paid off. It started out (while I was working) - I could opt a specific amount deducted fm paycheck every WEEK (remember the good old days when you got paid weekly?!!! lol), and automatic pymts to pay for my "one and only new car I ever bot". I LOVED it! (The car was also funded thru my credit union). I'd like auto-pay for TWO other cc's, but I don't want the cc's to have direct access to my cr. union acct. I also have a regular bank account which I've had for a very long time, (checking only - I dumped my savings due to their ridiculous monthly fees), and I use this to pay bills. I HATE this bank, but I've had my acc't for about 30 years - so don't want to close the account. What I've been doing for several years is writing a ck fm Cr. Union to deposit into my "regular bank scct" - but only enough to cover bills that I am paying (plus a small "buffer"), so that they make minimal $ on MY $. My balance is always VERY LOW in this account. (I REALLY hate this bank!) I considered setting up CR Union to make auto-deposits to my regular bank. (BUT, then again, I hate to "connect" the two.) And then set up auto-pay on cc's thru THAT account. PLUS, IF I did that, it would be under what I pay out each month,-(utilities, etc.), So...I would STILL have to write another check and go to ATM to make additional deposit every month. Sounds messy, huh? lol! Well, it is! I don't want to close out my regular bank acc't. Too old - and good for FICO??? I WON'T close out my Credit Union - also, too old. (plus I get lot's of benefits.) I've always been against the "online" pay method - Due to various reasons which I will spare you deatils! haha (In general - don't want to RELY on computer do to "crashes". afraid of change, many phishings, and just don't really understand how it works, etc...PLUS, I do NOT want emails to remind/inform me of this or that - I prefer paper coming thru regular mail.) BUT...hubby and son DO pay some bills online. I talked to hubby last night about how it works. I've decided to try it. (Slowly at first - & with a watchful eye) Check out Cr union online options first. See what I can/cannot do online. Sign up for that bank I hate - see what's available - what I can/cannot do - and if there are any FEES. Do an EFT fm Cr union to that bank. See how that works out. If all OK, check into CC's, see what. Try to make pymts online. (I'll start with one specific one first - see how it goes.) As long as I still get my paper statements in the regular mail each month with it all itemized... Hubby DID warn me that when I do the EFT - could take 3-5 days for it to go thru...(but then, it takes that time for regular mail also - for paying bills, that is.) I'll just have to do any bank TRFs a few days ahead. So, I have a lot to check into in next several days. Wish me luck! LOL!

sieryn, Beleive me, things will continue going this way if you and only you decided that enough is enough. Been there, had the T-shirt. I've been a step parent for 18 yrs. I've always made more money that DH. Which means, i bought HIS children xmas gifts, i bought the groceries, i bought this, bought that, etc. etc. etc. etc . for YEARS until one day i said enough is enough. I am not saying DH didn't or hasn't contributed to our lives but i was always the one who was the first to spend the money. I stopped this almost one year ago when behind my back he gave his oldest daughter 500 $. Stop paying and it doesn't mean you don't love these children, it means you are not the only one who has the pay for the happiness of these children in your home. As long as you keep doing it, hubby will support you alright! what am I supposed to say? I can't afford to raise YOUR kids and OUR kids by myself???" yep, that's exactly what you are supposed to tell him. Don't be shy. When xmas comes my DH always wants to overspend for his children who are now 19, 20 and 27 - the last one has two little girls. For years, i have been paying for these xmas gifts and again got caught last year when DH asked for 500 $ extra so he could get more gifts. Stupid me ...i took it off my credit card with the understanding that HE would pay it back. I am still waiting for the money and I've mentionned it often to DH. His response is always the same. Well, you know where my money goes and of course you can see that right now i couldn't give the 500 $ back! Ya, ...well believe me, when xmas comes this year.......he will gbe sorry he hasn't paid back the 500 % back yet. I've been telling him that his adult children are of an age now where they don't need five presents under the tree anymore, and money in envelopes, etc.etc. Especially considering they have never, never, never given their father or I in the last 18 years a descent xmas gift. Always JUNK! I've always started telling DH that this year i will not be home for xmas. I am going to the cottage. I don't care if he comes or not but one thing is for sure I don't want to be home with HIS ADULT CHILDREN. P.S. I've also began to have 50$ deducted every two weeks on my paycheck so it can go to a savings account. DH doesn't really like it but who cares. For years and years, i am the one who paid for this and for that for his children and also for things for him. Today, i am thinking more about me.I am so glad i have 400$ to my name. I've already started thinking what i am going to do with it. Perhaps go see Celine Dion in concert next summer! YES" So, all of this just to say ......don't hesitate to start thinking about yourself and your needs and stop thinking so much about his needs and his children's needs! It's not only his ex-wife's fault. It is also a large part your DH fault if you pay for everything. Keep posting.