Go fund me question
socks
6 years ago
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How to decide among the various fund managers and mutual funds?
Comments (4)I agree that very few of them beat the averages ... how could they? They have offices to run, computers, phones, postage and staff ... and buy and sell a lot of stocks, and though their fees are low, many of them pretty well turn over their whole portfolio annually. Those that do that ... have a lot of capital gain to report to you (you hope!) annually ... of which the income tax people want their, in that case, ongoing, share. And they have that management expense fee (often higher than the income tax cost) that reduces their effective rate - and they get their guaranteed rate, whether they produce or not! Also - when it comes time to sell those units, you'd better have kept records of not just your original cost ... but also of all of those declared payouts that were reivested, in order to calculate your capital gain. Many mutual funds keep track of your average cost per unit ... that works O.K. ... until they get bought out/merged, etc. and usually the new system just starts from when they took over. Have you checked Morningstar, the agency that rates them? What about learning how money works and buying individual stocks yourself? I bought shares in one of Canada's half dozen or so nationwide banks over 40 years ago for about $4.20 per share, that was paying about a dime or a bit more as annual dividend. A year ago May each of those shares was "worth" (i.e. "could be sold for") $107.00 ... but they were heavily involved with the U.S. stinky problem mortgage situation, so their price slipped down through the 90s, 80s, 70s, 60s into the 50s ... and have recovered a bit to low 60s. Some here recently said that, of course, I sold ... no, I hadn't. Partly, at the time of the high price, didn't have any idea that it would slide so far ... plus, it went from 4.5 doubles in 41 years to about 4 doubles in those years ... which, apart from the increased income via dividends over those 40 years, is a pretty good rate of growth. But if I were about to buy more bank shares, it'd be a different one, as this is not their first goof in recent years. Recently dividend rate grew from $2.80 to $3.08 to $3.48, which earlier in Canada were tax-advantaged, and recently that advantage increased substantially: so that a person with solely that kind of income went from tax-free $28,000. - 30,000. tax-free, to $46,345. tax-free, an increase of over 60% in one year. Further ... I've subscribed to what I consider Canada's best personal money management magazine for quite a number of years, that carries no ads, is pretty well all text - and the writers respond to subscribers' questions. Local subscribers meet regularly in about 40 places across Canada and I've met with about 20 others monthly here for about 8 years or so: many perspectives and I've learned a lot, there. Cost? Gas to get there, wear and tear on the car - plus, time ... a couple of hours a month, and another at the coffee house after, with a few of the guys and gals. If I'd put that $4.20 into the average even equity-based mutual fund 41 years ago, would the size of that asset have doubled that well? Rather doubtful, I think. A couple of mine have - several haven't. But I don't want to dump 'em this year, due to forced sale of a major holding - Canada's largest telco going private (damn it!). And that's with the income reinvested - and my shares paid me dividends quarterly, with frequent increases, for 41 years. However - the big proviso - the average growth rate has not been that good. I've avoided some taxes as I went along, but that piper will have to be paid, one of these days. Whether while I'm alive ... or for my executor to take care of, before dispersal of my estate to my kids and charities. Had I put that $4.20 into a bank account, GIC, bond, etc. where the number of dollars of principal has been guaranteed, would I have developed any such result? No way! Apart altogether from the tax advantages in the equity-based game (whether of the mutual fund or individual investment variety)! Did I say earlier ... that I prefer to run my own show? Further ... though it was 60 years ago, I grew up on a farm, and farmers are used to irregular income, with loss of some potential income when a cow dies, or reduced yields due to drought or flood (but the price of diesel fuel, fertilizer had to be paid, regardless). And seasonal income, for many. How many town folks could handle getting paid once or twice a year? Plus, they manipulate not only capital, but labour - to repair the tractor, or trade it on a bigger one? Which would require getting bigger tillage equipment, as well. Put a new roof on the barn, this year ... or build it larger? Farmers were much more used to uncertainty than city folks. Or, rather, than city folks used to be. Now, with pensions shrinking and disappearing like fog in the morning sun ... and, in many areas, the values of one's equity in one's owned home (well, "partly-owned", considering the mortgage), and with employment being uncertain, with full-time work scarcer, there have been major changes in the economic picture for city folks, as well. Back up and look at the far horizon ... occasionally, at least. Good wishes for increasingly more effective use of not only your income, but of your assets, as well. ole joyful...See MoreAny Go Fund Me set-up tips?
Comments (14)I hope you won't think I'm a "naysayer", I'm not saying don't do a GME (or Youcaring, etc.) but I wanted to offer other options too. I have been involved in fundraising for similar projects. The most recent was in Guatemala. For the shoes, toothbrushes and possibly even drugs, I would contact people about donating. We did shoes and toothbrushes (and other items) and much of this was donated by some area dentists and other groups, stores, etc. We also had a car show and "yard sale" to fund some of the items we needed. We have friends who are missionaries in Honduras. They work with a medical team (go out into the less populated areas with a team of both missionaries and medical staff). They have raised funds through selling of items (some wonderful candles made in the area) and coffee from their area. Just a few ideas. Also, as a project leader in my area for the Operation Christmas Child (shoe box project) you can find flip-flops (probably now) for cheap. We bought up a ton at places like Target, dollar store, etc. well in advance. Sounds like a great experience and I wish you much luck in obtaining funding/items!...See Moresomething you need to know about the go fund me pages
Comments (4)I just did my first request for withdrawal. It is supposed to be in my bank around the 16th. The fund is staying open so can still accept donations. The % taken out is I think around 5to8 %. Not bad at all. This is going to help us a lot! Thanks so much!...See MoreGoFundMe Page.......
Comments (24)In my community, a home invasion robbery happened. A 16 year guy was home alone with his German Shepherd, Rex. They ran upstairs and hid, but Rex broke free from his owner's grasp and ran downstairs. He bit one of the intruders, and then the intruders shot him four times. He limped back upstairs, and by then the police were on the way and the intruders heard the sirens and fled. Rex was taken to a local vet to get stabilized, then was transported to another vet for surgery. He was at the vet hospital for several days, then required physical therapy. Someone in the community set up a GoFundMe page for Rex, "Rex, the Hero Dog." The initial goal was $10,000 but $62,221 was raised. There were lots of news reports of Rex, and the community followed Rex's recovery. His 16 year old owner would have probably been killed if not for his hero dog. They are donating leftover funds to the vet hospital that did the surgeries, for other pets needing care whose owners are financially not able to pay....See MoreAngela Id
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