Go fund me question
8 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 MoreReclaiming funds from my brkn eBay chairs-PayPal or Credit card?
Comments (24)Geez, what a nightmare. Why can't people just be honest and treat others like they'd like to be treated? I just don't get it, it's not that hard. I really wanted to bid on some beautiful RL bedding, a rare style, but I really had to read between the lines and push to get info. Apparently with the shams the seller mentioned although never used, she did launder one "by mistake", but it went right back in the package. Saw no logic in that whatsoever... Since it was cotton and lace (delicate), I wondered if she dried it (which would ruin it). I emailed her asking if the washed sham had been distorted or shrank as a result. No reply. I wait a few days, auction is nearing and end, and basically email her a 'hey, I'd really like to bid, but have not received a reply to my question so I'm giving it one more try here.' That generated a response from her, she admitted that the laundered sham was 'snug' and corners 'curled', but suggested ironing would make it fit properly again. Good grief. (She failed to include that significant detail in her description, even after I asked, she didn't post my question and her answer.) Very cat and mouse. I'm glad I took time to push it, because although it was a beautiful set I might well be out the $, and it would be worthless with only one good sham (and it garnered pretty high $$). I'm watching to see what kind of feedback occurs once the buyer receives it. Anyway, back to valinsv's guy. Clearly there are major issues with some items he sells. Is he too ignorant to realize that having integrity would only bolster his business that much more? That's the part I just don't get. Treat people right, they'll keep coming back. Treat them badly as a habit and sooner or later he's going to lose. Seems to me with the type of volume he does he'd be a lot further ahead if he'd just be honest. Just curious mona if you might know: if he does get kicked off, is his IP address banned, or just his ebay ID? He seems to have such a huge system set up and selling high volume, can't see him just walking away. Could he just come back under a new ID? (Although given his business and volume and listing style, it would be easy to recognize it might be him.)...See MoreToo Many Go Fund Me Pages
Comments (22)I don't want to sound cold but most of the GFM campaigns I have been personally sent a request to donate to would have been unnecessary with a little responsible life planning. Of course, sometimes catastrophes happen. And it's really not possible to plan for every misfortune that may befall you. I get that. Others that I have seen on the news have been flat out disgusting. The mother of Tyshawn Lee comes to mind first. Almost immediately after her 9 year old son, who she was not even raising herself was murdered, a GFM account was set up to pay for funeral expenses,knowing FULL WELL that the funeral home was providing all services free of charge. Then the kids father had the nerve to try to set one up. What did she do with the money she asked for to "bury her baby"? She bought herself a fancy brand new car. When she was exposed, she went online and posted a video telling people that her 9 year old WANTED her to buy a new car, and if you're not gonna support her,leave her alone. The NERVE of some people. And unfortunately, this is not a unique occurence. I have seen single mothers with multiple children by multiple men ask for money for christmas presents. I have seen people ask for money for plastic surgery. Not reconstructive. They just want a bigger butt or a touch of lipo. I have seen people ask for money because they want an expensive dog. Heck, one woman featured on "My 600 lb life" set one up asking for $50,000. Apparently, because she couldn't comply with the weight loss program she was denied free surgery provided by TLC (or whoever foots that bill) and so now wants the money to pay for a different surgeon to so it. I think her name was Shanae or Shanay. Ridiculous. I don't mind helping those in need. But I wish GFM would really start placing restrictions on what you can raise money for, or put some sort or verification process in place. For now, I will just keep ignoring such requests....See Morehelp me spend my travel fund on redecorating
Comments (9)"some art I was contemplating for above the fireplace, I prefer modern abstracts but apparently it has to be a picture of "something"" Who said it had to be a picture of something? What's happening with the current art above the fireplace? That looks good. You have some really cool pieces in your space! Couldn't you swag your current light fixture? I really like your mirror but don't think it's suited for its present location. Would you need curtains or stronger light filtering blinds for the window in your dining area? If you can share a layout of the space with dimensions, you'll probably increase your chances of getting PROs' advice. They (and lucky cat owners) might be able to offer suggestions for a non-cat-scratch-post chair. After our cat experience, I couldn't even hazard a guess as to what material wouldn't interest a cat. :)...See More- 8 years ago
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