How much cash.....
11 years ago
Featured Answer
Sort by:Oldest
Comments (54)
- 11 years ago
- 11 years ago
Related Discussions
patenting a worthwhile maple seedling
Comments (3)If by chance one of these were to turn into something worthy of propagating as a cultivarâ¦how would I go about getting a patent for it? You would apply for a patent for it with the US Patent and Trademark Office. Not inexpensive (~$10K) and not a fast process. FWIW, only a handful of Japanese maples are patented - I can think of only 3 - and these because they are particularly unique in appearance. You really need to have something very special in order to make the whole process worthwhile. What happens after the patent is granted can vary. Sometimes selling the rights outright to a large grower is the most efficient way. If you hold on to the patent rights you do receive a royalty from any grower that chooses to propagate that plant for production. I know a couple of plant geeks who have bred and patented (or applied for patents) plants and I can tell you they are NOT rich. The reward maybe primarily in the achievement :-) Just be aware that this is a lot of work and a time consuming and costly enterprise....See MoreNeed advice re debit card use from someone using Quicken
Comments (11)In talking to a young couple regarding how to develop a good money management system, I suggested that a good way to start is to keep track of every expenditure, to assist in evaluation. I suggested that they set up a page, probably in a loose-leaf binder, to deal with their cash operation, with date, description, and three (possibly 4) columns, with one for individual expenses, (possibly a second to add several expenditures). One column for cash income as withdrawn from bank account, or other source, etc., and a column at the right for keeping track of balance. It's important to check amount in wallet against recorded balance on hand frequently at the start, as often there appears to be more cash reported in record book than wallet ... as one (or more) expenditures had not been entered. I was informed that they didn't do much cash business, but dealt extensively with debit card. I was going to suggest later that they set up several columns to the right, to break out the expenditures into the various types, with a column for each. How to deal with the debit card transactions? I thought that it might be wise to enter each transaction, either as it happens (which I thought preferable), or as they get their monthly report from the bank relating to date and description, but not into the cash columns, as it was directly paid from the bank. To record each transaction only in the columns related to category. But - many pay bills also by cheque and by credit card. The reason for the cash columns is to ensure that every transaction is accounted for, but this is not an issue with the debit card transactions, for they show up totally in the bank report. Then when the bank report comes in, ensure that each transaction that you made is entered, and checked with the bank report, entering any that hadn't been earlier. That way, each of those two types of expenditure shows on the detailed page. I suggested that they keep a report of their bank account transactions on the back of last month's record, on the page to the left. The cheque register would show the various expenditures during the month on the full financial report of expenditures and would be entered either as they were written, or, I thought preferably, after the cash transactions for the month (possibly including the debit card activities, as well), had been finished. Then, one gets a report from one's credit card transactions and each transaction would be entered in the various relevant categories. As many report that Quicken is easy to use, and quite comprehensive, I'm quite sure that it'll have an easy way to deal with the debit card transactions. ole joyful...See MoreCash as a portion of a pre-retirement portfolio
Comments (8)As a personal financial consultant I recommended that folks have 3 - 6 mos. income available in case of emergency, 9 mos. or a year`s worth if their position was shaky or if they were on commission, self-employed, etc. ... and recently Suze Orman suggested in her Money Class book that 8 mos. is necessary. I used to say to some clients, however, that I didn`t always have such, myself, but that I had a rarely-used credit card, and a rarely-used line of credit available, so that I could use the credit card to cover an emergency if I lacked the cash, then draw on the line of credit (fully secured: backed by equities, not a home - I don`t own one) to pay off the credit card debt just after the first billing, to avoid paying high-rate interest. Then I`d figure to pay off the line of credit a soon as possible, to incur only a smallish interest cost. In my 80s, by the way, I`m about 80% invested in stocks and stock-based mutual funds ... and I haven`t bought a mutual fund in about 20 years: I prefer to study up stocks and buy my own ... then pay myself the 2.5% or higher fees that the mutual fund managers charge annually (1.5% or higher in the U.S.). If those managers are so smart ... how come about 80% or more of mutual funds don`t outperform the section of the market in which they invest(question mark - I`m getting a capital ``�`` with a, French, grave accent over it - as you can see in the E that I posted - which was supposed to be in quotation marks, and you see what resulted). I figure that well-chosen equities will quite likely retain most of their value after 10 years or so, and I expect that most of my assets have a good 10-year time horizon, as I live, rather frugally, by choice, within my pensions` income, so my investments are more or less `play money`: I don`t expect to have to draw on it, any time soon ... as I feel that I should plan to fund my retirement to age 100, at least ... 110, better. Running out of days before running out of money is, in my opinion, better than the other way around. Thus, some quality, dividend-paying stocks are, I think, the way to fly, as they drop less in adverse markets, and usually recover, given time. Furthermore, I get a very important tax credit on dividend income on Canadian-based stocks, and later, should my stocks develop a capital gain, I pay tax on only half of it. Plus ... if I give it to a charity, I get a tax-deductible receipt for the full amount ... and pay no tax on the capital gain, which, for a stock that I`ve held for 40 years, can be substantial. Not only that ... my kids, in the neighbourhood of 50, aren`t in major need of money, and on my death can let those assets just continue to run. The base cost amount for them will be the value of the stock at my death ... and my estate will have had to pay tax at regular rate on half of those capital gains ... but some of those stocks, the ones with major capital gains developed, will be given to churches and charities: tax cost avoided. ole (frugal) joyful...See MoreUsing land as equity for down payment of new construction
Comments (148)Would the below be a correct/ accurate estimate? (Example is being slightly conservative?) 2 acre bought for $100K cash, no financing at all. From here on out, would it be correct to say we now have to ignore that we just spent 100k on property as far as any future construction loan is concerned? Based on several comments in this old thread, that seems to be the case, as it appears appraisal for total finished property (house plus land) does not really seem to consider market value paid for land at that time and final appraisal appears to be much lower than combined build cost and property cost. Construction Cost from Builder: $500k Based on several comments above, it sounds like most appraisals are extremely short when considering land value. (seems odd because where we live, zip code 54115, our county web site shows “fair market value” for both property and the “improvements” (house and such). Example: Nice newly built house in area just bought, county site shows land value at $86k (purchase price/ appraisal value), then improvement/ building/ house at $589k. The public tax bill shows the tax is paid as a single payment, but the site does separate out the two. Bank will loan 80% of total appraised value basically ignoring actual construction cost builder will charge. Using our 2 acre lot example and 500k construction cost: o Potential low appraisal value might be $525k. (even though land was 100K fair market, and cost to build is 500K) o So bank will lend 80% of $525k, meaning $420k At construction loan closing, we need to bring ~$80k in cash ($500k build cost minus $420k possible loan/ financed amount). In this example, our $100k already paid for land at market value did not really contribute much if any at all. So total upfront cash/ down-payment we spent on completed property (original land purchase if 100k plus 80k construction down-payment) is $180k or about 34% of final appraised value? Continuing to use the example above, with a total loan of $420k plus our $180K spent in cash for total initial cost is $600k on newly appraised property of $525k at construction loan closing, we would already be ~$75k in negative equity? I understand construction is generally more expensive than buying prebuilt, but with the mantra that is taught “house is an investment”, why would anyone ever want to build new as it will take a very long time to reduce that negative equity. Any ROI appears to be horrendous compared to other investment areas. Please understand I have no real idea other than my wife and I bought some property and I am trying to get a a somewhat accurate gage of how much additional cash we may need for a construction loan hopefully not more than $500k. Based on the comments above, I am now thinking better to just sell and maybe get our $100k back as best able, put into other investment instead and wait until a pre-built hopefully come on market that has what we are looking for. Then use that $100k (or more) on a house where we could already seem some form of equity return. How often does it seem final “market value” is so much less than build cost plus land? Is there a general rule of thumb that can be applied for rough estimates? (maybe take build cost plus land value, then minus a certain percentage?)...See More- 11 years ago
- 11 years agolast modified: 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years agolast modified: 11 years ago
- 11 years agolast modified: 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years agolast modified: 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years agolast modified: 11 years ago
- 11 years agolast modified: 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years agolast modified: 11 years ago
- 11 years agolast modified: 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years agolast modified: 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
- 11 years ago
Related Stories

MOVINGTips for Winning a Bidding War in a Hot Home Market
Cash isn’t always king in a bidding war. Get the home you want without blowing your budget, using these Realtor-tested strategies
Full Story
DECORATING GUIDESTax Refunds Provide Style Returns
Unexpected cash practically begs small splurges: an accessory here, a furniture upgrade there, maybe some lovely new linens ...
Full Story
HEALTHY HOMEEasy Green: Weekend Detox for Your Home
A few small changes to your home over the weekend can help improve your health (and your cash flow) every day
Full Story
DECORATING GUIDESHouzz Guides: 12 Ways to Decorate for Less
Who says you need wads of cash to have loads of style? With these skills under your belt, you can get amazing results on a budget
Full Story
BUDGET DECORATING15 Ways to Ready a Summer Home on the Cheap
Set up a comfy getaway where stress goes down the drain, without sending wads of cash along with it
Full Story
DESIGN PRACTICEDesign Practice: Start-up Costs for Architects and Designers
How much cash does it take to open a design company? When you use free tools and services, it’s less than you might think
Full Story
LIGHTINGWhat to Consider Before You Buy Vintage Lighting
Crystal-laden antique lamps and other vintage lighting fixtures may call to your heart, but read this before you plunk down any cash
Full Story
WINDOWSWindow Valances for Every Style
Save a Little Cash, Add a Bit of Flair by Dressing Just the Top of Your Windows
Full Story
LIGHTINGAmp Up Your Room With Colorful Lampshades
Make a big impact minus the big cash fork-over by swapping white shades for ones in headier colors
Full Story
LANDSCAPE DESIGNArtful Salvage: Old Doors Decorate the Garden
In a fence or leading only to imagination, salvaged doors can create lots of intrigue for little cash
Full Story
bob_cville