Disqus - Latest Comments for Patrick

Re: I am Debt Free as of Today!

Patrick — Mon, 15 Dec 2008 14:57:43 -0000

Congrats, Flexo. I think being debt free is a big accomplishment. There are so many people who are not able to say that. It takes self control and the right mindset to avoid consumer debt - especially with all the media and advertisements prompting you to spend, spend, spend!

Re: How to Avoid Overdraft Fees, and Quicken Premier 2009 Giveaway

Patrick — Sun, 02 Nov 2008 19:32:32 -0000

My bank has free overdraft protection which is linked to my savings account. I still try to avoid a negative balance by automatically depositing enough money to cover my recurring expenses every month, plus a little extra for non-recurring expenses.

Re: Hugh Laurie (Dr. House) Will Earn $9 Million This Season (and Weekend Blog Roundup)

Patrick — Mon, 15 Sep 2008 11:34:13 -0000

I think most mainstream actors make more than their "professional counterparts" make in real life. Of course, when you think about it, if a real life doctor could make that many house calls per week.... ;)

Thanks for the mention. :)

Re: Thieves Smashed Into My Car and Stole $700 Worth of Stuff

Patrick — Tue, 02 Sep 2008 09:07:18 -0000

Man, I'm sorry to hear that, Flexo. I have homeowner's insurance which covers thefts from my vehicle (after I pay the deductible). My old renter's policy had the same coverage. I rarely have enough items of value in my car to meet the deductible though. As you said, thankfully no one was injured. Things can always be replaced.

Re: Donating Old Clothing and Blog Roundup

Patrick — Mon, 18 Aug 2008 08:48:56 -0000

I usually do what Twiggers does: Goodwill, Salvation Army, Women's Shelters, and Homeless shelters. I know you don't have children, but for those who do, Children's hospitals are a good place to donate. The same goes for toys, games, books, etc.

Re: Is Finding $6,000 in Saved Expenses Better Than a Raise?

Patrick — Fri, 15 Aug 2008 14:21:34 -0000

I think finding a way to save $6k of your money is better than getting a $6k raise, based on the fact that you have already paid taxes on your money.

The better solution though, is to find a way to do a little of each. ;)

Re: This Tee-Shirt Was Brought to You By Pepsi (And This Mustache by Just For Men)

Patrick — Fri, 15 Aug 2008 12:38:39 -0000

I haven't bought clothing with brand logos or crests for several years now. I don't much care for them and never have. I also don't wear shirts that advertise things except for a green Guinness t-shirt that I picked up on sale several years ago that I wear for St. Paddy's Day.

But in my opinion, repetitive name dropping in Rap and Hip-Hop music is worse than advertising on clothing. Want to know who the artist is? Just listen for 15 seconds and they will tell you... 5 times. Same thing for featured artists in those songs. It's not uncommon to listen to a song and hear 4 or 5 artists mentioned... while also name dropping various brands of liquor, automobiles, clothing brands, vacation hot spots, clubs, etc. Nothing against hip-hop, but half of it is a big advertisement.

Re: Bottled Water? What Was I Thinking?

Patrick — Wed, 06 Aug 2008 21:08:30 -0000

I use a stainless steel Kleen Kanteen, which I recently purchased. The water tastes better than from a reusable plastic bottle, and I think metal is better for the environment in the long run. Either way you go, reusable plastic or metal, it is surely better than buying a daily bottle of water. :-)

Re: Tuesday Roundup: $1.8 Million, Gas Prices, and SIPC

Patrick — Tue, 05 Aug 2008 20:34:37 -0000

Thanks for the mention, Flexo. :)

Re: Baseball Cards Aren’t Fun Anymore

Patrick — Sat, 26 Jul 2008 22:26:55 -0000

For me it was a combination of everything you listed above - getting older, too many card sets and variations to keep track of, and the high prices. I collected through high school when a friend and I frequented games at the Astrodome. We collected hundreds of autographs. It was a time I remember fondly. I don't collect any longer (at least with any purpose or regularity), but I do buy at least one pack of Topps cards every year. They end up sitting in a stack not doing anything, but a couple dollars is worth remembering the times I had growing up.

Re: 5 Years of Consumerism Commentary: What Would You Like to See Here?

Patrick — Wed, 16 Jul 2008 16:41:20 -0000

Congrats on 5 years, Flexo!

Your blog was one of the first group of pf blogs I began reading just over a year and a half ago. It's been in my reader ever since then, and I've watched your subscriber numbers grow as well. Obviously you are doing something right. ;)

Looking forward to more.

Re: Getting Ripped Off for New Jersey Gasoline: Inaccurately Calibrated Pumps

Patrick — Wed, 25 Jun 2008 22:59:45 -0000

I would be very upset if I had frequented a gas station doing this. I understand the margins on gas are extremely small, but the seals on the pumps are there as a guarantee and to instill trust.

I actually have most of my gas receipts going back about a year or so. I write the mileage on the receipt and put it in an envelope to track my gas mileage. Every so often I make sure everything is normal. They would most likely be useless though because I doubt anyone could prove how long this had been going on...

Re: Purchased a Hoover SteamVac to Deep Clean My Carpets

Patrick — Wed, 25 Jun 2008 23:06:12 -0000

We had one of these growing up (older model of course) and they work well. It basically pays for itself after one or two uses. The only issue for an apartment would be storage, but if you have room it is well worth the investment.

Re: Carnival of Personal Finance #157: Third Anniversary Edition

Patrick — Mon, 16 Jun 2008 09:07:44 -0000

Congrats on three years of running a successful carnival! This has to be one of the longest running and most successful carnivals out there. I'm glad to play a small part. :)

Re: I’m Getting a Raise and a Bonus, But Maybe I Should Leave

Patrick — Sat, 16 Feb 2008 23:16:59 -0000

If you decide to move on, at least wait until after your bonus check clears! ;)

Our company is of the opinion that bonuses and raises should be announced, then held back for several months as an incentive to keep people around. Yes, it's that bad. I am currently looking and hope to have more news soon!

Whichever you choose, I wish you the best of luck!

Re: My Favorite Source for Movies? The Library

Patrick — Tue, 05 Feb 2008 23:24:58 -0000

I used to buy a lot of movies when I worked odd shifts and didn't live near a video rental store or library (and getting to them during my waking hours was a pain). Now I live near a very good library, and my wife and I borrow most of our movies there. We like to catch up on all the old flicks that we haven't seen before. It saves a lot of money! :)

Re: Morning Roundup: Goals Across the Web

Patrick — Sat, 05 Jan 2008 11:47:58 -0000

Flexo, you have some impressive goals listed for yourself! I'm especially impressed with your charitable contribution goals and goal for your side businesses. The best of luck in reaching those! Thanks for sharing your goals and allowing others to do the same.

For those not aware, there is a gathering of about 50 financial goals listed in this month's Carnival of Financial Goals, hosted at Being Frugal. Now is a great time to submit to next month's CoFG. You should include your goals in the CoFG as well - I think a lot of people would be impressed with them! Thanks, and best of luck to you in '08!

Re: Personal Income Statement, December 2007 (Net Income: $4,252)

Patrick — Thu, 03 Jan 2008 07:30:22 -0000

Amazing growth, Flexo. Congrats on your progress!

Re: Eco-Friendly Ball for New Year’s Eve

Patrick — Wed, 02 Jan 2008 09:39:23 -0000

I absolutely *loved* the 5 minute commercial break leading up to the ball dropping. The network brought the show back online exactly 2 minutes before the ball dropped.

Yes, it was 5 minutes, I timed it. Talk about maximizing revenue!

Re: Flexo’s Financial Goals and Resolutions for 2008

Patrick — Sat, 05 Jan 2008 11:50:32 -0000

Very impressive goals, Flexo! I agree with Pinyo, I am impressed with your charitable goals and the income goal for you side business! :)

Re: Christmas Kittens: Not A Bargain

Patrick — Sat, 22 Dec 2007 21:47:25 -0000

I think that is funny! (and creative!).

I don't think you can forget about the other costs associated with pet care as well - shots, food, toys, vet bills, treats, etc. When you add those, pets are never a "bargain."

Of course, just like having kids, you can't make the decision to have a pet based on money alone! :)

Re: 2008 Roth IRA: Lump Sum or Dollar Cost Average?

Patrick — Sat, 22 Dec 2007 21:20:16 -0000

Last year my wife and I invested it all in a lump sum, which is what we will probably do again this year. I need to rebalance my portfolio anyway, so instead of selling things off, I will likely just target my buying to do the rebalance.

I look at buying it all at once the same way as others mentioned - DCA over yearly increments instead of monthly increments. Hopefully, having the larger sum of money in for a longer period of time will result in better long term returns.

Re: The New Quicken Online: A New Direction for Money Management Software

Patrick — Sat, 22 Dec 2007 18:08:37 -0000

I'm not sure I would use this in its current state. I am in the same boat as you and am more concerned with tracking my investments and planning for the future. I'm sure they have that in development, and I might consider it then.

Re: Consumerism Commentary Honored in BESPy Awards

Patrick — Sat, 22 Dec 2007 18:39:36 -0000

Congrats, Flexo! Well, deserved!

Re: PriceProtectr Just Saved My Girlfriend $100

Patrick — Sun, 16 Dec 2007 21:31:09 -0000

Girlfriend A is very kind to you. What did Girlfriend B get you? ;)

OK, I hope she won't read that!

I just spent a couple hundred dollars on Amazon and put all my purchases into PriceProtectr (all my family is in another state, so it is easier and cheaper to do everything via Amazon). Hopefully I'll get a similar notification soon. :)

Re: $1,000,000 in Pennies in New York City

Patrick — Tue, 11 Dec 2007 22:40:44 -0000

I think that is simply amazing. I am impressed!

Re: Here Comes the Roth 401(k)

Patrick — Tue, 11 Dec 2007 06:44:22 -0000

Ohhh, I'm officially jealous! I would love to have toe Roth 401(k) at my company. I would probably put it all in there vs. the traditional just because I know that mentally, it would be a big benefit for me to know that I will be able to withdraw 100% of the funds without taxes when I retire. (assuming no changes to the tax laws repealing the Roth IRAs/401(k) plans). I also have just over 30 years before I would be able to withdraw the money, which would give me the most beneficial element of all - time.

Nice calculator as well. The results for me were heavily in favor of using a Roth - even with the same tax rate. Again, I think this is because of the amount of time.

Re: Weekly Blog Roundup, Standing On Line Edition

Patrick — Fri, 14 Dec 2007 09:09:31 -0000

I remember reading Scholastic Books when I was a kid! I read anything I could get my hands on. I don't remember going to any book fairs like this, but I'm sure my parents wouldn't have liked taking me - I would have wanted to see all of the books.

Thanks for the mention!

Re: Welcome Readers of CNN Money

Patrick — Sat, 08 Dec 2007 10:45:10 -0000

Congratulations on the mention in CNN! That's a wonderful testament to your website! :)

Re: Stopping at a Gas Station for Directions Just Got Cooler

Patrick — Thu, 08 Nov 2007 06:48:00 -0000

That is an awesome concept. Leave it to Google to innovate. It won't be long though before Google incorporates ads into this feature. I think they will wait until it becomes more widespread, then open up the features to allow more locations - with the ability to print coupons, ads, etc. It sounds like a wonderful marketing idea.

Re: Grabbing the Last of the 5.65 APY CDs

Patrick — Fri, 02 Nov 2007 06:32:45 -0000

I think it is a wise move to use the CDs for your situation. You are dealing with an indeterminate time period and don't know when you will need the money. That sounds very smart to me.

I just bought some CD's for my wife and I, and I built a 5 yr CD ladder because we have cash above our emergency funds, but we are anticipating possible life changes in the next few years. Since we don't know when we will need the money, it makes more sense to go with a guaranteed CD, vs. buying equities.

The rates we got weren't 5.65%, but I felt the were competitive and they are with our main financial institution which is convenient. (We also didn't drop 10k into a single CD).

I think you did a great job.

Re: Savings and Checking Account Interest Yields Updated

Patrick — Thu, 01 Nov 2007 20:54:40 -0000

I locked some nice rates last week when I built a 5 year CD ladder. :)

Everything was between 4.91-5.16%. That's not bad right now.

Re: Consumer Reports: Best and Worst Credit Card Issuers

Patrick — Tue, 30 Oct 2007 19:31:55 -0000

I have USAA and their customer service is the BEST! They are not available to everyone though - you have to be a member, which is limited to military members, retired military, and grown children of USAA members. They're an awesome company if you can join!

Re: Weekly Roundup, Pumpkin Picking Edition

Patrick — Sat, 20 Oct 2007 17:15:58 -0000

Thanks for the mention. :)

Re: Giveaway: Free Sumo Lounge Omni Chair

Patrick — Tue, 16 Oct 2007 07:32:45 -0000

Hah! Lazy Man's story made me laugh. We had a friend who used to do that. We would carry his couch around everywhere. Then one day we carried it to the beach and it rained. *Bad*

We ended up leaving it overnight. When we returned the next morning it was soggy, sagging in the middle, and full of fleas! (I'm hoping they weren't there before, but like I said, it was a friend's couch!).

Needless to say we walked right on by it and never looked back. Wow, I haven't thought of that in a few years! :D

Re: I Won’t Sell Email Addresses

Patrick — Sat, 13 Oct 2007 22:15:56 -0000

That's the best policy. I haven't been contacted about this, but if I were, I would also refuse. I can't stand SPAM just like everyone else, and there's no way I would feel good about profiting from it.

Re: Paid Off a Chunk of Debt This Week

Patrick — Fri, 05 Oct 2007 19:22:27 -0000

Awesome! Congrats on the big payment. I think a lot more people will start doing something similar in the near future.

Re: Weekly Roundup, Redesign Edition

Patrick — Tue, 02 Oct 2007 19:40:03 -0000

The first thing I noticed (after the color change) was how much cleaner your site is. It is much more organized and streamlined. I like it.

Re: The Declining Value of the MBA

Patrick — Tue, 02 Oct 2007 19:37:22 -0000

I think you hit the jackpot when you likened an MBA to a commodity. College degrees in general have almost become commodities. However, they are still necessary in many cases.

Re: Apple Reduces Price of iPhone: Anyone Buying?

Patrick — Thu, 06 Sep 2007 19:02:59 -0000

Nope. It will come down more, and I have a different provider anyway...

Re: Who is More Likely to Become a CEO

Patrick — Tue, 04 Sep 2007 22:05:27 -0000

I think this is an interesting study. One thing it doesn't mention though is single children - are they included, and are they counted as first born?

I think a lot of first born children have a natural leadership ability because they took it upon themselves to do so from an early age.

Public vs. Private education: I think it all depends on the person doing the studying. Those who have the drive and skill to succeed will do so wherever they go to school. Private schools just tend to open some doors that public schools may not, or at least not as quickly.

This is definitely interesting. :)

Re: Weekly Blog Round-Up, High Definition Edition

Patrick — Sun, 02 Sep 2007 17:34:54 -0000

Thanks for the mention, Flexo. :)

Re: Should You Accept a Counteroffer?

Patrick — Thu, 09 Aug 2007 06:57:03 -0000

"The new position is at a significantly higher level with a title to match, a higher salary, a better commute, and what seems to be a friendlier environment."

I think you answered your own question. If the salary is equal, then a higher level, title, better commute, and friendlier environment win out every time. (The only way I would take a job that loses in those categories is if they are fairly similar, just a little lower, and if I were earning quite a bit more salary).

You will be staying in the same company, so your benefits and seniority level remain unchanged. I would recommend *gracefully* declining your boss's offer and tell her you are looking for a new personal and professional challenge.

Re: Bad Implementation: High Speed Mortgage Payoffs

Patrick — Thu, 02 Aug 2007 16:41:07 -0000

I agree with Frank. I've had a friend in the UK who had one of these. He said they are fairly common.

Re: Giveaway: Complete Real-Estate Investing Guidebook by David Crook

Patrick — Sat, 28 Jul 2007 19:11:17 -0000

My wife and I are proud owners of a mortgage and currently have no investment properties. :)

Re: Question for Readers: Get Rid of Debt Before Investing for Retirement?

Patrick — Wed, 18 Jul 2007 18:33:25 -0000

Joe,

I think Brian hit it on the head. The company match is too good to pass up. Even if it for only one year, that is still a lot of free money.

There is also a good possibility you can work with your credit card companies to lower your interest rates, or you might even be able to get a balance transfer on a new credit card with a low or even 0% interest rate. This would be a great way to save a lot of money, as long as you can commit to not adding new debt.

Re: I’ve Surpassed My First Significant Milestone

Patrick — Sat, 07 Jul 2007 10:00:56 -0000

Congrats, Flexo! Milestones are such a feel good thing! The real dollar difference between $99,250 and $100,000 is not very much, but $100,000 just looks so much nicer. :)

Sun makes a nice point - your next milestone should be easier to reach. Good luck!

Re: Go to College Without Going Into Debt: Impossible?

Patrick — Wed, 04 Jul 2007 11:28:30 -0000

I was fortunate that my parents paid my tuition, room, and board for me for my first year of school at a state college. After that, I was restless with school so I joined the USAF. I got an Associates Degree from the Community College of the Air Force, then I volunteered to work night shift so I could take night classes. Two years later, I got my Bachelors in science, and the military paid my tuition. This is not the route for everyone, but it worked for me and I have no regrets. :)

Re: Cash vs. Credit Card: Gas Stations Charging Different Prices

Patrick — Thu, 21 Jun 2007 11:44:39 -0000

I noticed this when I was on vacation to CA about 2-3 years ago. The price differnece was about $.10 a gallon. I paid cash.

What I don't like about it is that I love pay at the pump - no lines, no hassles. :(

I guess that is another way to drive customers into the stores and get them to buy more snacks, cigarettes, etc.

Re: My Struggle: Spending on Food is Really About Motivation

Patrick — Thu, 14 Jun 2007 10:36:06 -0000

I prefer to pack leftovers for lunch. They are already made, you know what's in it and how healthy it is, and they taste great. Other times Iwill pack cold cuts or a frozen meal. (I love Marie Callender's pot pies!)

I also enjoy the social aspect of eating out with friends and coworkers, so I do that a couple times a week. This is also a great way to network, so indirectly and long term, eating out can be good for the bottom line.

Re: My Expenses Will Climb in Less Than One Month

Patrick — Sun, 10 Jun 2007 11:14:30 -0000

You're going to love this move! Having yout own washer and dryer is such a great convenience that you will never want to go without again. Same for the extra space!

Your energy bills will go up - more space equals more room to heat/cool. You will also have to pay for the energy for washing/drying clothes.

But your quality of life goes up, and isn't that what it's all about? :)

Re: I Is Needin New Ownrz: My Cat Looking For a New Home

Patrick — Tue, 05 Jun 2007 14:31:05 -0000

The donated fee is a nice idea. You won't get stuck with someone who is going to neglect your cat or put it in a small apartment 35 other cats. Donating the money to the local adoption agency makes it even better. Good luck!

Re: Buy a Condo or Rent an Apartment: My Decision

Patrick — Fri, 01 Jun 2007 13:24:34 -0000

That sounds like a good move, Flexo. When you posted you weren't sure how much time you had and rushing into a home purchase is not a good idea. You need to determine what your needs are and be familiar with the area, values etc. It also didn't seem like you were 100% sold on the idea of owning. This should give you a lot more flxibility and time to decide your next living arrangement. Good luck!

Re: Fear of Throwing Money Away Keeping You From Quitting?

Patrick — Thu, 31 May 2007 19:30:05 -0000

My company has a pretty bad 401k match so that wouldn't keep me from leaving. However, I like what I do and I have a lot of good opportunities. After recently transitioning from the military I feel it is more important for me to chase opportunity for a few years before I start chasing money. The money will come with knowledge and experience.

Re: Congratulations to Patrick, Winner of Quicken Premier 2007

Patrick — Sun, 27 May 2007 17:36:08 -0000

Thanks, Flexo! I'm looking forward to receiving it and I will be sure to do a review after I get all of my files transferred over from Quicken 2006. :)

Re: Man Buys $8,000 Worth of Forever Stamps

Patrick — Fri, 25 May 2007 09:37:35 -0000

What a horrible idea. I guess everyone knew it would happen sooner or later, and now that it is in the news, I'm sure other people will start doing it is well.

What is even worse is that he could have waited a couple years until right before the next rise in rates and bought a lot of forever stamps then. At least then he would have his $8000 earning interest until that time. (That's not even getting into the argument that $8000 is way too many stamps).

It sounds like this guy needs to start reading Flexo's blog!

Re: How to Make Money With John Adams Presidential Dollar Coins

Patrick — Thu, 24 May 2007 09:48:37 -0000

This is an interesting read. But, I'm not going to buy any of these coins myself. I collected coins as a kid, and now I save one or two (small denomination) coins from every country I travel to.

Remember the Wisconsin quarter a couple years back? I had a friend sell 5 of them on eBay for about $1200. I don't think they are worth very much now... :)

I collected baseball cards back in the day too. I still buy a pack every now and then, not for profit, mostly for nostalgia and to see how the new cards look. It's fun. :)

Re: Reminder: Quicken Premier 2007 Giveaway

Patrick — Tue, 22 May 2007 08:52:29 -0000

Flexo, I'm not the best in the world at math, but if everyone is entered twice, isn't that the same odds as everyone being entered once? ;)

I did leave a comment on the other post as well :)

Re: 10 Improvements I’d Like to See in Quicken 2008 (And a Giveaway)

Patrick — Tue, 22 May 2007 08:58:04 -0000

I use Quicken, and for the most part, I really like it. I wish there was a better way for govt. employees to track their TSP (govt. version of 401k).

I only update it a couple times a month. I like to track where I spend and where my investments are, but I don't use Quicken for billpay or run any accounts through it. I use it only for tracking.

Re: Ethical? Bank of America Sells Variable Annuity to Elderly Person

Patrick — Mon, 14 May 2007 12:18:48 -0000

If the daughter of the elderly man wants to file a complaint, the NASD is probably the best place to start.

Even so, the responsibility of proving the brokerage acted in their best interest and not the customer's will lie on the father and daughter.

I would recommend to Maryanne that she consult with her father before he makes any more investments.

Re: 4 Ways to Simplify Finances Where Possible

Patrick — Tue, 01 May 2007 09:19:34 -0000

Hi Flexo,

Getting your finances smoothed out is a great step toward buying a house, or making any major financial transaction. It will make everything a lot easier to track now, and especially at tax time (no more sorting through 15 different 1099s!)

Before you go through your financial papers to determine what you need to keep or throw away, check out my recent post titled How Long Should You Keep Financial Documents?: link

I just wrote about it yesterday :)

And don't forget to buy a shredder! It's one of the best $15 investments you can make! Or, you can spend a little more and get the deluxe version that shreds paper, credit cards, and compact disks. :)

Re: Living Paycheck to Paycheck Could Cost you Your Life

Patrick — Sun, 08 Nov 2009 22:02:30 -0000

Time is the most precious commodity - something I have become even more acutely aware of recently. One of my mentors once told me he wouldn't trade his time for a million dollars. I knew he meant it, but it didn't sink in at the time. But I think I understand it now that I have a little girl and seemingly less time than ever.

Re: How Much Interest do I pay to Financing Companies and Banks? TOO MUCH!

Patrick — Wed, 04 Nov 2009 11:06:38 -0000

Wow, eye-opening indeed! I would definitely contact your student loan company to determine what is going on with loan number 2. The good news is that the more you pay down your debt, the lower your principal, and the less interest you pay. So as long as you make continuous payments and don't add debt, your ratio will improve. :)
.-= Patrick´s last blog ..How to Lower your Auto Insurance Bill =-.

Re: 215th Edition of the Carnival of Debt Reduction

Patrick — Wed, 04 Nov 2009 12:13:29 -0000

Thanks for hosting. :)
.-= Patrick´s last blog ..How to Lower your Auto Insurance Bill =-.

Re: Carnival of Money Stories 2 #23

Patrick — Fri, 16 Oct 2009 07:54:05 -0000

Thanks for including my article, even though it may have missed the criteria a little bit. It was a situation I recently ran into, but I guess I didn't write about it from a personal perspective! :)
.-= Patrick´s last blog ..The Early Adopters Tax =-.

Re: Carnival of Money Stories 9th Edition – Richest Americans

Patrick — Mon, 06 Jul 2009 12:50:12 -0000

Thanks for hosting! :)

Re: Several Changes Coming to Consumerism Commentary

Patrick — Sat, 04 Apr 2009 11:45:07 -0000

Awesome to see you turning your site into a true multi-media experience. Next up, videos! ;-)

Re: After Ten Years of Renting, I Finally Have Insurance

Patrick — Mon, 02 Mar 2009 22:49:48 -0000

It's been about 3 years since I've had renter's insurance (I have home owner's insurance now), but I don't remember ever paying much more than $100 per year. I value my non-replaceable items more than my "material possessions," but at those rates I figured I couldn't afford not to get renter's insurance. It doesn't take much to lose everything. Might as well get covered.

Re: Quicken Home and Business 2009 Review and Giveaway

Patrick — Mon, 02 Mar 2009 22:39:57 -0000

I like the tip for tracking CDs. As advanced as Quicken and MS Money are, there are some inexplicable oversights.

My best tip is to stay on top of things - it can be a bear to try and catch up a month or two later.

Also, for those who are in the military or government service, there is no inherent way to track the Thrift Savings Plan (govt. version of a 401k). This is problematic, but a reader shared with me how to track it in Quicken: How to Update TSP in Quicken. You have to manually create share prices, purchase prices, etc. It adds a couple extra steps, but is worth it if you want to track your cost basis and how well your investments have done.

Re: More ING Direct $25 Bonus Links Posted, Now Required to Clear Cookies?

Patrick — Mon, 09 Feb 2009 12:15:49 -0000

I just noticed the same thing, Flexo. That makes it more difficult to keep track of links. You would think ING would want more people to sign up - especially when banks are hustling for extra depositors more than ever.

Re: Your TARP Money Put to Good Use

Patrick — Wed, 21 Jan 2009 16:31:03 -0000

I can't say I'm pleased, but I have to admit that I don't feel like there is anything I can do about it. I also know that there is a lot more waste that has already happened and there is more to come. I don't want to sound pessimistic, because I believe good things will come from this as well. But I am also a realist. The facts should be known by the American public.

Re: Carnival of Debt Reduction: Tips via Twitter Edition

Patrick — Mon, 12 Jan 2009 09:57:56 -0000

Thanks for hosting! The twitter tips add a nice touch. :)

Re: Giveaway: Excuse Me, Your Job is Waiting by Laura George

Patrick — Tue, 01 May 2007 21:41:37 -0000

I thought knuckleballer was a noble profession, but I think it might have been surpassed by trophy husband. ;)

Re: Giveaway: Excuse Me, Your Job is Waiting by Laura George

Patrick — Tue, 01 May 2007 09:29:23 -0000

My dream job would be a professional baseball player - specifically a knuckleball pitcher. Why a knuckleballer? Well, it is a niche player who can be tremendously succesful one game, horrible the next, but is always a little different and a lot of fun. Knuckleballers always have a loyal (if sometimes small) fan base, and always draw a crowd wherever they go.

The kncukleball is not very taxing on the arm, so many knuckleball pitchers can pitch for many years. That is great because they get to do what they love for many years, while many pro athletes have short careers.

Pro ball players have a lot of great perks - camaraderie, travel, money, the excitement of the game. It sounds like a great time.

Alas, I am not an athlete, and I am still searching for dream job number 2. But if I ever win the lottery, I might quit work and focus all my energies on learning that knuckler. :)

Re: My Next Step: Two Bedroom Condo or More Renting?

Patrick — Thu, 26 Apr 2007 11:04:49 -0000

The NY Times says it's better to rent than own right now, but that may not always be the case. The big questions you have to ask yourself are do you plan on staying in the area for a few years, and can you afford to make the payments? If so, you might consider purchasing a house.

The housing market has been coming down lately and there are a lot of people being forced to sell their homes due to foreclosures.

The tough thing is you only have until the end of June before your lease is up. That is not much time to get to know the market and make such a big decision. If you were able to extend your lease a couple months, the market may improve more for buyers, and you will have a better idea of the area you want to live in and which deals are really good.

Also keep in mind that condo fees can add quite a bit to your monthly housing bill.

Re: I Buy Generic Brands and Store Brands Sometimes

Patrick — Tue, 24 Apr 2007 19:43:42 -0000

I definitely agree on buying quality instruments. I bought a Martin, and it was everything it was supposed to be. But you can look for used instruments and still get great deals. I got my US made Telecaster in mint condition (w/ hard case) for $400.

For band instruments (clarinets, trumpets, flutes, etc.) wait until the school year ends. The students that quit throughout the year and those who graduated are looking to get whatever they can for it. The worst time to buy a band instrument is right before school starts for the obvious reasons.

As for sodas, I try to stay away, but generic orange and root beer work for me. Not so with Coke or Dr. Pepper.

Re: Passing the week

Patrick — Sun, 26 Jul 2009 11:19:10 -0000

I would think inventors could have some interesting tax situations with royalties, sales, etc. Doesn't sound like fun! Thanks for the mention. :)

Re: Passing the Week. . . .

Patrick — Sun, 09 Nov 2008 09:40:38 -0000

Great collection of articles here. I think the new administration is going to be extremely busy with the economy over the next few years. I'm sure there will be a few tax changes along the way, but I don't know how many of the changes Obama will be able to make, including those he campaigned behind. It will certainly be an interesting few years! Thanks for the mention. :)

Re: Passing the week. . .

Patrick — Sun, 14 Sep 2008 12:47:29 -0000

Thanks for the mention. :)

Re: Passing the week. . .

Patrick — Sun, 07 Sep 2008 22:08:38 -0000

Thanks for the mentions. :)

Re: Dave Ramsey’s Baby Step Series at the M-Network

Patrick — Thu, 06 Mar 2008 08:20:46 -0000

Thanks for highlighting the group writing project. :)

Re: Sunday poll - popular or rich?

Patrick — Tue, 04 Sep 2007 18:55:43 -0000

Interaction is the most fun and rewarding, but I also like to see numbers - there is a certain validation in watching your number of subscribers climb, and there is an absolute validation in watching your bank account grow from advertisements. I guess in the best world I would choose right in the middle.

But seriously, I enjoy the idea of a community amongst the bloggers and the idea that the information I provide can help people. These are very rewarding to me. I guess both have their rewards. :)

Re: Dark day

Patrick — Wed, 12 Sep 2007 16:07:14 -0000

I am moved to read your story. I know there are thousands of similar stories - many with different endings. I was in the USAF and living in England when this terrible event happened, and it was almost surreal to watch the events in my home country unfold when I was hundreds of miles away. Several friends and family members called me and vice versa. I must have spent a hundred dollars on phone calls, and others likely spent the same to call me. And I don't think anyone cared about the money. The important thing was to reach out to the people you care about and reassure try to reassure yourself that everything would be all right. Good, bad, or just different, I think September 11th changed all of us.

Re: linklings “no cameras” football edition

Patrick — Sat, 15 Sep 2007 12:02:48 -0000

Hi Brip Blap,
You're right. Buying a car for a couple weeks doesn't always work out well, but sometimes it does. Thanks for the mention. :)

Thanks for sharing your personal experiences from 9-11 and recommending the personal reflections from other blogs. I am not a New Yorker, but I was in the military at the time, and I can assure you, it had a huge impact on all of us in the military, as well as the rest of America. Thank you for sharing.

Re: guest post at “Cash Money Life”

Patrick — Tue, 02 Oct 2007 08:23:17 -0000

Hi Brip Blap,

Thanks for writing the guest post! I appreciate it.

I just got back from my honeymoon, and I had a wonderful time. :)

Re: I will not eat green eggs and ham

Patrick — Thu, 04 Oct 2007 06:46:00 -0000

I'm for moderation in most things, including diet (when vacationing on a cruise notwithstanding!). My wife and I eat a lot of vegetables, fish, and chicken, and not a lot of beef or pork. We tend to eat healthy, but we are definitely not vegetarians. I think our choices are based mostly on health and taste, and less on the environment. But the environment is something I am thinking more and more about these days. We already recycle everything we can, combine trips in the car, and heat and cool less to cut down on energy consumption. Choosing foods based on environmental impact is a logical next step. Nice post -- thought provoking. :)

Re: today is better than the day before

Patrick — Thu, 04 Oct 2007 06:48:54 -0000

Great list. I have actually tried many of these, but some I haven't even thought about.

Re: 7 random things about me

Patrick — Sat, 06 Oct 2007 22:13:49 -0000

You know, I seldom remember my dreams, but those in the know say we dream all the time. I would venture to say you probably dream more often than you think you do - you just don't often remember it.

By the way, I noticed your new theme. It looks nice. :)

Re: Benjamin Franklin, the original personal finance blogger

Patrick — Sun, 07 Oct 2007 12:40:10 -0000

Great article, and I also agree with the last statement. I love beer! ;)

Re: Thoughts on: Jordan

Patrick — Tue, 09 Oct 2007 19:06:52 -0000

Very true. Jordan was "the man," by the way. I had the luck to see him play basketball once against the Houston Rockets (Jordan, Pippen, Rodman) vs (Olajuwan, Drexler, Barkley). It was like watching an all-star game!

I also saw Jordan play minor league baseball when I lived in Alabama. I don't know very many people who have seen him play both sports live.

Re: how to become a billionaire

Patrick — Thu, 11 Oct 2007 14:06:28 -0000

I think a higher proportion of the younger billionaires are coming from the East because their economies are booming right now. They are experienceing an economical revolution in many of those countries right now, and there are a lot of opportunities in real estate, manufacturing, and energy. I expect we will see a lot of growth in the East in the coming years and decades.

As a side note, many MBA programs offer classes centering on the economics of some of the regions you mentioned.

But I'm not interested in being a billionaire - I'm working on hitting that trillion dollar mark! ;)

Re: one cube of high fructose corn syrup or two?

Patrick — Thu, 11 Oct 2007 14:16:10 -0000

In Texas you can still buy Dr. Pepper made with pure sugar. However, they only make it at one Dr. Pepper bottling plant, and you can only find that particular Dr. Pepper in a small region of TX. It does tast much differnt than the Dr. Pepper made w/ HFCS. It is sweeter and smoother.

Re: 6 ways you are passing up free money

Patrick — Fri, 12 Oct 2007 15:22:33 -0000

I hate grocery store programs. The company artificially raises prices a small % across the board in order to offer "deals" to the customers. From there, they gather info about you and your shopping habits. Then they send you coupons and other "goodies" geared toward trying to get you to spend more money at their store. On top of that, you have yet another card, number, or account to keep track of. I admit it is nice to see that I saved $20 on a total grocery store purchase, but I can't help but wonder if I really saved it, or if the grocery store company is laughing at me as soon as I walk out the door. "Ha-ha, sucker!"

Re: carnivals, guest posts and links

Patrick — Sun, 21 Oct 2007 15:51:45 -0000

I like Skellie's article too, and need to de-clutter my blog (and get a new theme!). I'm working on it!

Re: public declaration

Patrick — Sat, 27 Oct 2007 22:45:20 -0000

Ditto what Pinyo says... I'm going to have to think about this one for a little bit. Then, I'll probably post in a couple weeks. (I'm thinking mine is procrastination!) ;)

Re: 8 steps to a six figure career

Patrick — Thu, 01 Nov 2007 22:21:45 -0000

Great article, Brip Blap. I'm looking into MBA programs now, though I admit, the application process is not coming along very quickly. I may apply for 08 matriculation, or I may have to push it back until 09. We'll see how the fall/winter goes. I think an MBA from a solid university with my military background should get me pretty close to 6 figures. At least, I hope! :)

Re: spooky links, 10-31-07

Patrick — Thu, 01 Nov 2007 22:30:25 -0000

Congrats on your blogging milestones, Brip Blap. I hope you continue your success!

Re: contest!

Patrick — Tue, 06 Nov 2007 23:02:15 -0000

Thanks for the mention, Brip Blap. The success of the "Stumble" though is due to the quality of the article you wrote. ;)

Re: linklings, point it out edition

Patrick — Wed, 07 Nov 2007 12:10:25 -0000

Thanks for mentioning me twice, Brip Blap. :)

I read your alternative income post at Lazy Man and Money - I think it was spot on. Multiple income streams are very important for financial health and creating alternative income is one of the things I am trying to work on. It's a good thing to bring in extra oney every month. :)

Re: high quantity versus high quality

Patrick — Fri, 09 Nov 2007 13:09:13 -0000

Brip Blap, I agree 100%. I have tried to live this way since I moved out on my own. Quality is so much more important in the long run, and usually costs less. If it costs more, it is certainly more enjoyable. And that is what is most importnat! :)

Re: 101 thoughts on losing 100 pounds

Patrick — Tue, 13 Nov 2007 10:54:56 -0000

I found this article engaging and informative. To be honest, I am not overweight, but I have noticed I've gained a few pounds recently. I learned a lot of great information here, so hopefully I can integrate a few preemptive changes to prevent weight gain. That should be easier than losing weight, I think! Congrats on your success and thanks for sharing.

Re: the stone in the shoe

Patrick — Mon, 19 Nov 2007 11:25:52 -0000

Good story, Brip Blap. Figure what the problem is and fix it instead of dealing with a workaround that hinders performance. I like it! :)

Re: wrapping up the holiday weekend

Patrick — Sun, 25 Nov 2007 21:49:12 -0000

Congrats on your progress, Brip Blap. :)

I am thankful for many similar things. ;)

Re: making overseas experience count

Patrick — Wed, 28 Nov 2007 12:25:15 -0000

I have a military background and made the jump from the military to the civilian workforce. Making such a drastic career change can be difficult if it is not done well and prepared for. The situation is actually very similar to this example. The key is to find ways to relate your previous experiences into terms and actions your potential employers will understand and respect. The examples you stated in your article are great.

Sometimes, a little creativity can do wonders as well. I have a friend who took a year off to be a stay-at-home dad. When he started recirculating his resume, he left that year in his job history and described his position as "domestic engineer." He said he received more phone calls from HR reps about that statement than he did about his qualifications - of which he had many. He had no trouble getting hired.

Re: my 2008 financial resolution

Patrick — Fri, 30 Nov 2007 06:49:31 -0000

Great goal, Steve! When you find a few more ways to get some alternative income, let me know!

Actually, finding a few sources of alternative income is something I am trying to do, but isn't the my main financial goal for 2008 - learning more about investing is. But doing this surely can't hurt! ;)

Good luck achieving your goal!

Re: linklings, Odin’s Day edition

Patrick — Wed, 05 Dec 2007 06:19:19 -0000

Use the Pareto principle for 80% of things in life. You crack me up! ;)

Thanks for mentioning the carnival and taking part. :)

Re: November stats

Patrick — Thu, 06 Dec 2007 00:03:32 -0000

Steve, Your article carried its own weight quite well. ;)

Re: linklings: Odin’s Day Part II: Ragnarok Strikes Back

Patrick — Thu, 06 Dec 2007 21:08:05 -0000

Thanks for bringing some attention to the Carnival of Financial Goals! A lot of great people came together to make this happen, and I am glad to have helped facilitate!

I liked your guest post at Plonkee Money as well. Good stuff! :)

Re: linklings, the Jets strike back edition

Patrick — Sat, 15 Dec 2007 11:53:38 -0000

Steve, I don't for a minute think it's an investment!

But, as far as calculating how much it costs, some people would get carried away and say the opportunity cost of owning a Wii is well over $1,000,000! (It's true, I linked to an example in the bottom of my article). ;)

Re: linklings, the Jets strike back edition

Patrick — Sat, 15 Dec 2007 11:53:55 -0000

Oh, and thanks for the link, by the way. ;)

Re: linklings, p2p edition

Patrick — Sat, 22 Dec 2007 16:12:58 -0000

Hi Steve,

I'm interested to read about the p2p lending and the carnival. I think there is a lot of room for growth in this arena, and I look forward to reading some more about it.

As for video games, I actually don't own a system. I don't think it's a waste of money though - at least no more than owning a DVD player and 200 movies, or extended cable and actually watching every channel! As with everything else, moderation is key! :)

Thanks for the mentions!

Re: you might be a personal finance redneck if…

Patrick — Mon, 24 Dec 2007 18:06:18 -0000

I love it! :)

Re: shifting tastes

Patrick — Sat, 29 Dec 2007 10:49:09 -0000

Wow.... How do I answer this one!?! I love it all! I have a 400 disk changer that is full, and I have more CDs that don't fit. Then we have my wife's CDs... I've got everything covering grunge, alt rock, jazz, pop, hard rock, soft rock, folk, classic rock, blues, prog, ska, and even a little Latin, R&B, classical, musicals, and country. To top it off I have some local bands and some CDs I helped produce/record for some friends (we're talking living room and beer, not professional studio!). My wife bought me some Sinatra for Christmas, and right now I am listening to Coheed and Cambria. Loudly.

Overall, I am a child of the 90's music scene, but I appreciate almost everything. (I just shy away from opera and violent gangsta rap - not my style).

Re: net worth or net worthless?

Patrick — Wed, 02 Jan 2008 10:07:09 -0000

Steve, I think this is a great article, and very much in line with my views (although I did use of house in the calculation). I don't often write about net worth, especially my own, because as you mentioned, it is arbitrary. However, I think knowing certain things such as the total value of your retirement holdings, cash flow producing assets, and other sources of money or equities is very important, especially when preparing for retirement. One of the things most people do not include in their net worth is their income from their job or other sources, which is not technically part of your net worth, but is most often the most valuable asset you have.

Re: guest post: a Tashkent New Year

Patrick — Wed, 02 Jan 2008 10:12:11 -0000

Bubelah, your tradition sounds wonderful. I do not like the commercialization of American Christmas, and the way the media tries to convince everyone to spend, spend, spend. I prefer family based traditions, and I hope to be able to instill these feelings in my family when I have children, and hopefully pass the tradition along. Thanks for the great article. :)

Re: net worth or net worthless?

Patrick — Wed, 02 Jan 2008 12:58:00 -0000

Stay tuned, Mike. I plan on writing about that for tomorrow's article. ;)

Re: developing a millionaire mindset

Patrick — Fri, 04 Jan 2008 07:30:47 -0000

Steve, great article. I love the point of view in #5, earn more instead of save more (as long as you continue to live at your current means and don't experience proportional lifestyle inflation). I am trying to do the same thing in my life.

#6 is also a great point. "You need people whose interests complement yours, but whose skills fill the gaps between your own."

I love that quote. This is something everyone needs to do to grow -personally, professionally, spiritually, or however they choose to grow. I even like to hear contrarian view points - as long as they are supportive and open minded. That is the only way to grow.

I'm happy to be a part of your on-line mastermind. I keep you in mine as well. You're a thinker, which is often hard to find.

Re: linklings, the leap year conspiracy edition

Patrick — Sat, 05 Jan 2008 12:28:01 -0000

Steve, thanks for the kind words. I include your mind in "your ability to create income" because that is how you and many other people create their income. Authors, artists, musicians, consultants. They all have an ability to create something that people are willing to pay for. For them, that is their greatest asset.

I'm interested in Prosper and will be funding my account this weekend. I too, would like to "become the bank." That's where the money is! ;)

Re: linklings, field notes from a (mildly sunny) catastrophe

Patrick — Wed, 09 Jan 2008 06:34:02 -0000

We had 70 degree weather also (the avg this time of year is 20-30s). I took 10 minutes when I got home to wash all the accumulated salt and dirt from my car - Just water and a sponge as it was set to rain the next few days. Still, it looks much better and I got that damaging salt off the paint!

Thanks for the mention!

Re: learning how to let go

Patrick — Sat, 12 Jan 2008 12:11:02 -0000

Steve, great article. I struggle with this all the time, but my wife is almost the opposite. I actually have it in my goals this year to clean things out and enjoy less clutter. I know I will feel much better about everything in the long run. Sell it, donate it, or trash it. I know I will feel better about walking into my basement and being able to find what I need, when I need it.

Re: a little-too-late advice on building wealth

Patrick — Fri, 18 Jan 2008 00:23:15 -0000

I love the Tecmo Bowl reference - not because I liked the game, but because I have so many similar experiences, especially from my time in the USAF. I feel the same way; it's not things that make the experience worthwhile, but who you share the experiences with. Great article.

Re: why I don’t talk about real estate investing

Patrick — Sat, 02 Feb 2008 11:18:42 -0000

Steve, I feel the same way. I think I would like to have a rental property sometime in the future, but not quite yet. As for our primary residence, I'm not concerned about making a ton of money when we sell it. First and foremost it is where we live. Even if we didn't have this house, we would have to live somewhere. Nice article.

Re: The Carnival of Financial Goals III

Patrick — Mon, 04 Feb 2008 19:33:11 -0000

Outstanding job hosting the Carnival of Financial Goals! The Shaq video is almost scary - he could have been injured. As it stands, it goes down as one of the most ferocious dunks of all time. How cool would it be to be the guy he dunked on! Seriously that beats any story I've got. ;)

Thanks for hosting! :)

Re: job jumper tip #3: it’s not all about the money

Patrick — Thu, 07 Feb 2008 21:59:44 -0000

Curmudgeon's point is spot on. I am interviewing for a position right now that is basically a lateral move professionally (at least for the current position), but there is a lot of room for growth and the company is doing very well. My current company however, is dying. At least, that is how most of us who work there perceive the situation. Great article.

Re: what is lending club?

Patrick — Tue, 26 Feb 2008 11:27:30 -0000

I think your assessment about Lending Club being more conservative than Prosper is spot on - that was my assessment as well. LC does not allow sub-prime personal loans either, which Prosper does.

I also agree with your statement about only lending money you can afford to part with. The loans aren't guaranteed, so you want to hedge your bets.

Overall, I think the P2P lending market shows promise, and over time I am investing small amounts of money there. Thanks for mentioning my articles! :)

Re: The Big Book Giveaway

Patrick — Wed, 05 Mar 2008 09:05:24 -0000

Steve, I've got to say I love your posts on career, family, health, etc. They add a personal element to your blog that many personal finance blogs don't have, and if you drop them, I will miss reading them (as will many others, I am sure). I will especially miss the career perspectives you share; I am at a stage where I am trying to balance career goals with life goals.

I agree that most people classify your blog in the personal finance realm, but that is because you write about how money and career related decisions make it possible to live the life you want to live - on your terms. The way you write brings all these elements together seamlessly, with the common thread of using money as a tool to live.

Your blog is a blog about life. And therein lies its appeal.

Re: The Big Book Giveaway

Patrick — Wed, 05 Mar 2008 09:06:50 -0000

Very nice contest. :)

I don't Twitter-pate, so I'll miss out on a few points, but that's OK. I have a long reading list right now anyway. ;)

1=Your Money or Your Life
2= Zen To Done
3= X Marks The Spot
4= The Greatest Salesman in the World
5=Getting Things Done

Re: green acres

Patrick — Thu, 27 Mar 2008 12:27:19 -0000

You know... you could always move to the South and bring the doner and tzatziki sauce with you. Mmmm.... :)

Joking aside, I agree with you. My wife and I are considering a move to be closer to the rest of her family, even though it is substantially more expensive than where we currently reside. IMO, family is much more important than kiving as cheaply as possible. But that is our choice; others can choose whichever is best for them.

Re: go to hell

Patrick — Fri, 28 Mar 2008 15:50:00 -0000

Steve, this is a great article. Most people never have that kind of financial flexibility (or the gumption) to do just that. The possibility of my job being made redundant or some other equally bad event occurring is just one of the reasons I am working so hard to create alternative income. Even if my "go to hell" fund isn't enormous, having other income streams makes it easier to deal with the situation.

Re: linklings, money writers edition

Patrick — Sat, 29 Mar 2008 14:37:23 -0000

Steve, congrats on joining such a great network. I read all of the blogs, and in my opinion, the Money Writers Network just got a lot stronger by adding the three of you.

I'm all about giving new parents cash as a gift. That is the universal present which they can use for anything. I normally mention then intent is for the child's savings or college, but the parents can use it however they wish.

My brother and his wife had a baby two weeks ago, and I need to send them something... maybe a $50 gift card? oink-oink, baby! ;)

Re: the newest problogger on the block

Patrick — Tue, 22 Apr 2008 09:33:39 -0000

This sounds like perfect timing with the new one soon to arrive. I hope your break is jsut long enough to help you focus on the things you need to accomplish and give you enough time to bond with your new child.

Then I hope you can find a better consulting gig closer to home. :)

Good luck!

Re: best financial move in college, part 1

Patrick — Mon, 28 Apr 2008 09:42:17 -0000

Not many people can say they profited by going to school - that's a very cool thing. It sounds like you made the best selection for you and your personality, which is much more important than going to school to get a certain school's "name" on your degree. I look forward to reading the second installment!

(oh, and I think I broke the rules too... I wrote several different good choices, when I could have boiled it down to - "I let someone else pay for it."). ;)

Re: best financial move in college, part 2

Patrick — Tue, 29 Apr 2008 09:39:41 -0000

Very nice. I enjoyed learning Spanish in high school and was very good at it for awhile (conversational, but not quite fluent).

I lived in TX, so I was able to use it while I was there. However, once I made it into college, I stopped taking classes because of scheduling, and once I joined the AF and returned to college, I focused on taking only the required classes to receive my degree.

With a structured set of courses, I have no doubt I would have been fluent. I think languages are fun and I have an aptitude for learning them... just not the time to do it! :)

There is a saying I firmly believe is true - "to learn another language is to gain a soul."

Re: my latest tax deduction

Patrick — Sun, 04 May 2008 11:18:55 -0000

Congrats, Steve! :)

Re: how to make money without a job and why you should

Patrick — Mon, 12 May 2008 11:45:28 -0000

I agree, Steve. Making money outside your day job is a great idea. There are very few guaranteed jobs out there, and even fewer guaranteed pension or retirement plans. Alternative income gives you a little breather room should something bad happen. And as you mentioned, it could serve as the catalyst to something bigger than your current day job. There is a lot of opportunity out there. Why not grab some? :)

Re: the big present I gave my first employer

Patrick — Sat, 17 May 2008 23:09:59 -0000

Steve, I know exactly what you mean. I just resigned from my position because I was working only for my employer and not doing anything that would benefit me. My position was extremely profitable for my employer. Despite multiple requests, they had no reason to want to move me to another position within our company so I finally left. My new job has a lot more opportunity for growth. Yes, I am still making another company a lot of money and will never reach the level of partner where I will get the golden parachute when I leave, but at least I have great hours and I am building skills I can take with me when I leave.

Re: sharpen your soft skills

Patrick — Mon, 19 May 2008 09:58:49 -0000

Steve, Thanks for the kind words and posting my guest article on your site.

Fathersez, I agree with your statement - more schools should focus on teaching these skills to students. There are a lot of MBA programs that stress these skills, but there are many schools that completely ignore them.

Re: announcing the carnival of careers

Patrick — Sat, 24 May 2008 10:04:19 -0000

Love the idea Steve, I'll be more than happy to host this for you. ;)

Re: Carnival of Careers #1

Patrick — Tue, 03 Jun 2008 13:07:21 -0000

Great topic, well presented, and awesome pics! ;)

I'm looking forward to each edition. :)

Re: does innovation require desperation?

Patrick — Mon, 16 Jun 2008 20:24:41 -0000

I think Curmudgeon and Greg hit the nail on the head. It's more about desire than desperation. But your desire can easily be influenced by need. A common example of this is professional athletes. Some will continue to train and play well beyond their prime years because they love it, when others can't be bothered once they make their millions (of course there will always be those who squandered their millions and continue to train and play out of necessity, not desire... but that is another post altogether!).

If you want it, Steve, I think you could do it. But it would involve changes to your current standard of living.

Re: how America grew rich, fat and unhappy

Patrick — Tue, 17 Jun 2008 13:33:17 -0000

I'd have to say another reason parents, grandparents, and other relatives buy so many toys is because it fills a void they think they had in their lives. I've known many people who seem to want to right the ways of the world by living through their kids. In reality, most children will make do with whatever is available. And in many cases they will be happier and more creative because they have to be.

As for American wealth, we have more than any other country in the world... and we owe more than any other country in the world. The majority of even the poorest American families have a place to live, a car (or two or three), air conditioning, refrigeration, color TV, a computer, internet, a microwave and many other items that were luxuries 20 years ago, but are seen as essential in today's American society. Many people can do with less than they have today. They just don't think they can (or know how, which is worse).

It comes down to making conscious decisions about your priorities. IN the end people control much more than they think they do.

Re: Carnival of Careers #2

Patrick — Fri, 20 Jun 2008 15:40:15 -0000

Steve, thanks for hosting! I was on vacation when this went live and I'm still catching up... Wow, it's been a rough couple weeks! :)

Re: a post in which the author opines on the possibility of managing one’s time successfully with two children under the age of three

Patrick — Wed, 25 Jun 2008 22:55:25 -0000

I love it. :)

Re: updating my financial goals, July 2008

Patrick — Wed, 02 Jul 2008 08:50:21 -0000

Very encouraging update, Steve. It's good to hear that things are looking up, and it looks like you should hit your goal, and possibly surpass it! It's all about innovation and flexibility. ;)

Re: more or less a one year anniversary

Patrick — Mon, 14 Jul 2008 00:42:35 -0000

Always a joy reading your blog and working with you, Steve. Congrats on one year, and here's hoping that by the time year two rolls around, you'll be doing this (or whatever you want to be doing) full-time. :)

Re: dancing

Patrick — Sat, 19 Jul 2008 19:52:11 -0000

Love it. the music is strangely haunting and peaceful, and the dancing is leaves a contagious feeling of joy. It's an interesting combination that works very well.

Re: linklings, ch-ch-ch-ch-changes edition

Patrick — Mon, 04 Aug 2008 09:18:28 -0000

Steve, thanks for mentioning my series on how to become a millionaire. Like you, my goal isn't just about accumulating money, it's about achieving goals and living the life I want to live. Money is the tool that will help me accomplish this. And like you, I think "multi-millionaire" is a more appropriate designation. At least over the long term. I still need to make my first million. ;)

Re: when does intellectual curiousity stop?

Patrick — Tue, 02 Sep 2008 10:47:31 -0000

My parents read to me and I grew to love reading and learning. I have began reading on my own as soon as I could and spent many a late night burning the midnight oil because I couldn't put down a book. "Just one more chapter" is a lie I have been telling myself for years! ;-)

Like some of the commenters in this thread, I don't think there is any one reason for these statistics, but a combination of many factors. Many school systems do primarily teach standardized tests, which destroys the creativity and passion for learning. And many people prefer to be fed by the TV for hours every night.

But I also think that at some point in many people's lives, books became associated with the dread of an upcoming assignment or a test someone wasn't prepared for and people forgot about the magic that books contain.

Personally, I would rather read a book than watch the latest Reality TV show or sitcom. A well-written book makes you part of the story, whereas TV requires little thought and less emotion.

Re: hazard pay

Patrick — Thu, 25 Sep 2008 23:47:11 -0000

My military travels took me to many places that qualified for hazard pay - and a few times I was closer to the action than I would have liked. At the time, it was my duty and I went without question. Now that I am no longer bound to military service (and now that I am married), I have no desire to expose myself to those situations. Your life is not worth a few extra shekels.

Re: if you believe they put a man on the moon

Patrick — Thu, 25 Sep 2008 23:51:18 -0000

I believe it. Try working for/with the government... Over the top sometimes...

Re: a day away from the edge

Patrick — Sun, 28 Sep 2008 20:37:24 -0000

Steve, I have no doubt you will keep going. Still, it's a tough gig to lose it all suddenly, and hopefully some of those people were prepared for this awhile ago and already had a plan in place.

I saw the writing on the wall at my last job and got out right before things got really bad. They are still afloat, but for how long? No one really knows. I left for a better position with more responsibility, better benefits, and a higher salary. I was fortunate. Some of my former coworkers have already been let go.

Still, in these uncertain times, I am working on diversifying my income streams, padding my emergency fund, and reducing expenses. You can never be too careful.

Good to see you keeping on top of your skills... A lot of people won't do that, then they will blame the "system" when they can't find work. ;)

Re: have MBAs been devalued by the crisis?

Patrick — Fri, 03 Oct 2008 16:00:18 -0000

I've had these thoughts for over a year now... I was planning on getting an MBA, but the proliferation of programs and subsequent watering down of the value made me hold off from going for it right away. I wanted to make sure it was something I wanted and needed, vs. something I was just getting to hang on my wall.

I still think MBAs are valuable, but they have the most value if they are from a highly regarded university - basically all the top tier schools. After that it really depends on your industry, region, focus, school network and various other factors. I still may get an MBA, but only because I want to learn the knowledge, not because I think it will make me CEO. (that and the MGIB will pay for most of it).

MBAs aren't for everyone, and to think otherwise is to walk with blinders on.

Re: 7 mistakes not to make in a crisis

Patrick — Sun, 12 Oct 2008 11:17:31 -0000

I definitely think this is a buying opportunity... My 401(k) is already on schedule to be maxed out for the year, although I could increase the percentage now and decrease as we get closer to the end of the year. I've also thought about starting a solo 401(k) or other self-employed retirement plan with my online earnings. Now seems to be a great time to do so.

Re: prosper is dead

Patrick — Thu, 16 Oct 2008 21:06:32 -0000

I'm not so certain Prosper is dead. I think they will come back strong if/when their secondary market is approved. The P2P market is changing though, and I think it has a decent future. With many credit streams drying up, people will look to alternative methods of getting loans. And don't forget about Loanio which was late to the party, but still has time to make an impact in this fledgling industry. I think it will be an interesting few months for the industry.

Re: I know I shouldn’t be happy to get laid off, but…

Patrick — Sat, 08 Nov 2008 21:43:30 -0000

Sorry (and glad) to hear about the job loss. Hope this turns out well for you in the long run.

On the flip side, a little extra motivation to step up the blogging income never hurt, right? ;)

Re: getting published

Patrick — Tue, 16 Dec 2008 02:06:43 -0000

I much prefer the feel of a bound book, and they are easier on the eyes. An ebook is no substitute for a good novel, in my opinion (at least for the type of reading I prefer for entertainment). But I also like that ebooks can provide a lot of value in a small, easily accessible package.

Ultimately, I would love to publish a novel, but an ebook is something that is much more achievable - at least at this stage of my life.

Re: wait until tomorrow to change

Patrick — Mon, 22 Dec 2008 14:45:00 -0000

Excellent insight, Steve. I am also at the point where I am tired of the corporate life. I have a good job and I do well at it, but I have reached the point that I would rather be off on my own. Though I know that now is the best time to make the "jump" I can't do it just yet. The good news is that I am actively working toward (not just saying I am working toward it). But based on my calculations, I am still a few months off. It's a good goal though. :)

Thanks for sharing this.

Re: what if saving was stupid

Patrick — Mon, 22 Dec 2008 14:58:55 -0000

Steve, I've been stuffing away as much money as possible over the last few years because I know that the longer I have for that money to grow, the better my potential payout. As you mentioned, it is investing, not saving, and there is risk involved. So far I can accept the level of risk I have taken.

But I am starting to see that there is more than just saving in stocks and bonds. I need to create cash flow that can withstand economic downturns. I am currently growing my business and continue to focus on that. I pay a little extra on my mortgage, because I don't want to carry that mortgage for 30 years, nor do I want to have a mortgage into my retirement. No mortgage = a certain amount of financial freedom.

My long term goal is to add additional income streams and hard assets, potentially real estate. It would start off small of course, maybe a rental unit. But eventually, I would like to have a few units bringing in enough money every month that I can pay all associated mortgage expenses, and have additional cash flow that I can use for other needs.

I don't want my income to be limited to my day job or my assets to be limited to a few stocks and bonds that are at the mercy of the markets and/or the value of our currency.

Re: what to do if you like your job but hate your career…

Patrick — Mon, 29 Dec 2008 08:42:52 -0000

I'm currently in the "hate the career," "love the job" mode. At least, that's what I am telling myself. I have some great coworkers, but no passion or enthusiasm for my day job.

And yes, I'm working on it!

Re: free time does not translate to massive productivity

Patrick — Wed, 07 Jan 2009 20:55:53 -0000

I agree with this article 100%. I am at my most productive when I have structure in my schedule. I'm not always disciplined enough to set and keep an efficient schedule. But this is something I am working on.

Re: the appearance of competence

Patrick — Wed, 18 Feb 2009 22:40:30 -0000

Haha. I know exactly what you mean. My last job was with a consulting firm and we had a couple people promote through the ranks simply because they had the gift of gab. The fact they had no technical skills never seemed to matter.

It maybe an oversimplification, but I think it's also a strong point. Our economy and the structure of our workforce is in for a major overhaul in the coming months/years.

Re: alea jacta est

Patrick — Tue, 24 Feb 2009 12:28:13 -0000

You know, Steve, the resilient always prevail, and I'm sure you will find success wherever you land. You are the kind of person who throws himself 100% into the task at hand (learning German and Russian, learning new accounting laws, int'l tax and accounting, etc.). You'll be fine. And it will make for interesting reading for voyeurs such as myself. ;)

Best of luck - and I'm looking forward to hearing about the life change!

Re: lazy winter days linklings

Patrick — Sun, 01 Mar 2009 00:41:13 -0000

I agree, Steve - I sometimes need external forces to push me along. I've been improving though. With a full-time job, and full-time blog, and a child on the way, I don't have much of a choice!

Thanks for the mention! :)

Re: linklings, too old for the factory edition

Patrick — Thu, 23 Apr 2009 14:18:46 -0000

I never got past juggling 3 balls, though I can do that fairly well. And no regrets about changing course on the MBA program. Running my business has been infinitely more rewarding so far! :)

Re: linklings, international labor day edition

Patrick — Tue, 05 May 2009 17:06:44 -0000

Nothing like a long road trip as a bonding experience. ;)

Thanks for the mention. :)

Re: early retirement or meaningful work?

Patrick — Thu, 14 May 2009 12:31:52 -0000

As always I find golden nuggets of truth in your articles. Steve, you are a better writer than you give yourself credit for. The elements that separate your writing from many others is that you think</em before your write, which makes your readers think. Your commentary and observations set your blog apart from many others, which is why I always come back for more.

As for today's article - I've been struggling with the same thing. I don't enjoy going to work every day, but I am well compensated and I enjoy the compensation and security I receive for trading in the best of my waking hours every day. But I would get incredibly bored and would be dissatisfied without having a gainful means of employment or other activity to work toward. My websites offer that when I get home, which makes it easier to go to work each day. Maybe they would be enough to satisfy my needs if I gathered the courage to leave my day job, I don't know? But I think it would be better than going into work every day to an unsatisfying job.

Re: the myth of stable employment

Patrick — Sun, 23 Aug 2009 14:48:15 -0000

Excellent article, as always. And I'm right there with you. I have the "stable corporate job," but I don't deceive myself into thinking that it will really be there for me in 5 years, or that I won't leave if a better offer came along. I do it because it pays well and I have those "benefits" you mentioned.

But I've also built several decent streams of income through my small business, and if I lost my job, I know I would have other options to fall back on.

Re: linklings, august 21 edition

Patrick — Sun, 23 Aug 2009 14:54:20 -0000

Brip-Blap is definitely a brand worth protecting. ;)

Thanks for the mention. :)

Re: Halloween is over, Christmas is coming faster than you think!

Patrick — Mon, 03 Nov 2008 20:45:42 -0000

The best time to get your travel tickets is early, which means if you plan on going somewhere for the holidays, get your tickets sooner, rather than later! Thanks for including my article in the round up! :)

Re: Money Hacks Carnival - Presidential Edition!

Patrick — Wed, 21 Jan 2009 08:23:29 -0000

Very timely theme! Thanks for hosting and selecting my article as ad editor's choice! :)

Re: Carnival of Financial Goals - Music Edition!

Patrick — Wed, 04 Feb 2009 16:24:57 -0000

Thanks for hosting! :)

Re: Would You Like More Credit Card Rights If It Means Credit Cards Are More Expensive?

Patrick — Tue, 07 Oct 2008 15:47:41 -0000

It's good to read these strong responses. Thanks for asking me to participate.

<abbr>Patricks last blog post..TradeKing Review</abbr>

Re: Personal Finance Brain Trust - What Rights Should Debtors Have?

Patrick — Tue, 14 Oct 2008 22:22:58 -0000

I'll third the notion. This is an extremely complex topic with no right or wrong answer. It really should be considered on a case by case basis. But I think it is in the best interest of all involved to work together.

<abbr>Patricks last blog post..Dollar Cost Averaging vs. Value Averaging</abbr>

Re: Fesitval of Frugality #163rd Edition

Patrick — Tue, 03 Feb 2009 08:53:54 -0000

Thanks for hosting and congrats on reaching your milestone! :)

<abbr>Patrick’s last blog post..A Big Announcement - My Wife and I Are Expecting!</abbr>

Re: 5 Reasons I Chose The Thesis Theme - Check It Out!

Patrick — Thu, 08 Jan 2009 22:33:45 -0000

I've been researching a lot of different themes and Thesis and Flex Theme keep coming up as the most flexible options. There are pros and cons to each, but what I really love about Thesis is its simplicity and the support forums. My current theme is too busy... and the support forums will probably seal the deal for me because I'm just not very proficient at coding! Thanks for the great review.

<abbr>Patricks last blog post..ING Business Savings Account Review</abbr>

Re: Money Matters for Twenties

Patrick — Mon, 18 Feb 2008 09:09:25 -0000

Thanks for the mention! We are all making the "Money Matters for All Ages" into an eBook that we will be giving away free on our sites. It should be done in a week or so. I hope you'll come by and download it. :)

Oh, and I just noticed I have a typo in my paragraph... "paying paying positions." I don't think I would have noticed it if you didn't quote it. Thanks! ;)