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November 2003

Financial Update – November

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Some interesting developments in the last month. First of all, now I’m including my new student loan, since I’ve started getting reimbursed for my MBA. However, I haven’t applied any of the reimbursement to the loans yet. I was holding on to the cash because of the possibility of buying a car. I’ve decided to wait, so after I receive my next reimbursement check, I’ll be making a large payment to my older student loan with the higher interest rate.

I’m also using some of the money I’ve saved up to buy parts for a new computer I’m building. I’ve bought about $350 worth of parts so far.

  November 17 October 12
Cash Accounts: $ 14,242 $ 10,920
Taxable Investments: $ 2,921 $ 2,860
401k (Pre-Tax): $ 7,682 $ 7,259
Roth IRA: $ 1,017 $ 754
Credit Cards: ($ 571) ($ 1,747)
Student Loan 3.97%: ($ 3,562) ($ 3,562)
Student Loan 2.82%: ($ 9,250) $ -
Home Inventory: $ 7,959 $ 7,659
TOTAL $ 20,554 $ 24,143

Buy and Hold Cold Cuts

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MSN Money – Why buy and hold is baloney

Well, I’ve been operating under a “buy and hold” strategy for my investments over the last year. It seems the easiest to do without a major time commitment, with a stable return which has historically proven to be good. Yes, I know that “past performance does not guarantee future results,” but over the course of 40 years, most people think it’s fair to say we’ll see the same kind of returns on the indices as a whole.

People have been saying otherwise lately. There is talk of a huge “market correction” based on the fact that economy in general has been overpriced, not just since the tech boom of 1999-2000, but since the beginning of the Industrial Revolution. Taking this further, according to some calculations, we’re due for a market correction with a duration of several centuries, as a result of the fall of the Holy Roman Empire in A.D. 476. I’m not sure if I believe the extreme way of thinking, but it doesn’t look too pretty for the world economy, if this is the case.

Back to the article. What this author is suggesting sounds like it would garner so much to be paid in fees, it’s just not worth it. Anyone have any thoughts?

Live Cheap, Look Rich

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MSN Money – 9 ways to look rich but live cheap

This article offers some tips on how to live a rich lifestyle while not having to spend much money. I’ll revisit this later.

Two New Nickels

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U.S. Mint to unveil nickel commemorating Lewis & Clark – Nov. 6, 2003

Hot on the heels of the ending of the State Quarters redesign program, the mint unveiled two new designs for reverse side of the Jefferson five-cent piece. The obverse will remain the same, according to the CNN article.

The “Louisiana Purchase/Peace Medal” design will be released in the spring of 2004 and the “Lewis & Clark Keelboat” will arrive in the fall. More information can be found on the US Mint website.