Becoming & Staying Debt Free

Sketch A Skyscrapper Contest

2008-07-23T18:47:00.000-05:00

I don't live in Oklahoma, but I received an email from the Oklahoman, promoting a contest, tht might be of interest to my readers. Especially, if they have kids.

HEY KIDS!
What do you think Oklahoma City's newest skyscraper should look like? Devon Energy is building OKC's newest skyscraper, and we want to see what you would build. Sketch your skyscraper, submit your drawing no later than 5:00 PM on Thursday, August 7, and you could win:

1ST PRIZE:
$1,000 savings bond

2ND PRIZE:
$500 savings bond

3RD PRIZE:
$250 savings bond

more info

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Repairs, Repairs and more Repairs

2008-07-23T18:42:00.002-05:00

Today has been a day of repairs. This past weekend I spent $30 for a new bathroom exhaust fan. When I bought the house, that thing needed to be replaced and I kept putting it off. Well, today it was installed, at a cost of $118 to the electrician. The old one had its own light switch. That one was disconnected, and the new one was wired to the light, so that it came on when I turned on the lights. As a result, a plate cover was also placed over the the whole where the removed light switch had been.

I then went to an appliance place and bought a part for my washing machine ($52). That part, I will try to install myself. It is the water valve, that regulates the water flow into the machine. Simply put, it involves taking the back off the machine. Turning off the water and disconnecting the hoses and unplugging the machine. Then I simply remove the two wires from the old valve and reconnect the new on in its place. Sounds simple enough, and I won't have to pay the $90 for the appliance repairman to come out.

Next on my list, is getting the bathroom door fixed so it doesn't drag on the floor. Previous attempts of doing it myself has failed, as within weeks it is doing the same thing again. Time to bring in the professional, estimated cost $50-$100.

I also need to paint the ceiling and trim work. Then getting someone that can place the bathroom tile that I received through freecycle.org.

Finally, I need to purchase a new toilet and get it installed. The new toilet will have greater flush capacity and won't clog as much. Thus ending some of the problems that have begun to develop. Thankfully, so far, I have been able to fix most of those clogs myself with a plunger, but with the age of the toilet, better to be proactive and replace it before the major problems develop. Besides the seat is falling apart to.

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Presidential Library & Museum Tour

2008-07-23T09:24:00.003-05:00

One of my goals is to visit every Presidential Library and Museum. Since, not every President has one, it's really not that hard of a goal to meet. There are only 12, unless you count the duplicates. Nixon and Ford have two locations, so if you count both of those then there are 14. Fords 2 are the only ones that are in the same state. Nixon, has one in Maryland and one in California. Of course there are also other museums that include Presidential homes that aren't part of the Presidential Library and Museum System. Such Museums includes George Washington's home and also Thomas Jefferson's home, Montecillo.

So far, the Presidential places I have visited:

Jimmy Carter Presidential Library, Atlanta, GA

Dwight D. Eisenhower Presidential Library, Abilene, KS

Ronald Reagan Birthplace, Tampico, IL

There is also the Ronald Reagan boyhood home, in Dixon, IL. OK, so now the list of the remaining Presidential Libraries (& Museums) and Presidential attractions that are on my list to visit eventually. One of which is only about 75 miles from me.

Ronald Reagan Presidential Library & Museum, Simi Valley, CA
Richard Nixon Presidential Museum, Yorba Linda, CA
Lyndon B. Johnson Library, Austin, TX
George Bush Library, College Station, TX
Harry S. Truman Library, Independence, MO
William J Clinton Library, Little Rock, AR
Herbert Hoover Library, West Branch, IA
Gerald Ford Library, Ann Arbor, MI
Gerald Ford Museum, Grand Rapids, MI
Richard Nixon Library, College Park, MD
Franklin D, Roosevelt Library, Hyde Park, NY
John F. Kennedy Library, Boston, MA

In addition, I would love to get to these other locations that aren't part of the National Archives.

Ronald Reagan boyhood home, Dixon, IL

Thomas Jefferson's Montecillo, Charlottesville, VA

George Washngton's home/plantation (Mount Vernon), Mount Vernon, Virginia
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Carnival of Money Stories

2008-07-22T08:19:00.001-05:00

The Carnival of Money Stories has chosen and linked to one of my posts from last week. Stating,

The Prince of Thrift updates us on his 401k and debt reduction progress.

Other links that I enjoyed in the Carnival included:

Ashley at Wide Open Wallet shares her personal finance history as part of the PF Bloggers Group Writing Project.

What a unique idea. I may have to see about joining the group, or in the least write up my own history.

Finally, Cash Money Life shows why it’s important not to underestimate the little things- even the nickels and dimes.

In this article, Patrick offers up some very good advice on why savings is very important.

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Welcome to the Raders from the Carnivals

2008-07-21T08:55:00.000-05:00

The first carnival to go up, linking to one of my posts was the Carnival of debt Reduction.

Prince of Thrift presents 401(k) and Debt Reduction Updates posted at Becoming & Staying Debt Free.

There are 2 other carnivals that are expected to link to me, but they will be published tomorrow (Tuesday).

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What Type of Billionaire Are You?

2008-07-21T08:03:00.000-05:00

Here’s a fun quiz to take and determine what type of billionaire you are. I took it and I’m a:

What would you do with your money?

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401(k) and Debt Reduction Updates

2008-07-18T18:57:00.003-05:00

I received my 401(k) statement yesterday. The total of my account at the end of June was $4,526.28, as you can see in the sidebar (on the right hand side).
Beginning Balance was: $3,672.46
Money In: $527.66
Employer Match
(1st Time ever - Jan-June): $390.23
Net Gain/(Loss): ($64.07)

To bad, this will be rolled over in a down market. It would be so much better, if it were in an up market. Then again, maybe the new funds will be down on the day I buy them, and the roll over will work to my advantage. (Right now though, I will be selling low and buying low.)

On that note, the retirement representative came by the store to show me the info on the new "Simple IRA," plan. I ended up electing to put my future contributions in 4 funds. With those elections being at 20-20-20-40. The funds are small caps, to large caps to international, and are mostly growth funds with some moderate risk mixed in. In 15 years, as I get closer to retirement age, I will start moving all my funds to more stable funds, with lot less growth potential. That way, when I retire, I will have the funds to live on throughout my retirement.

One of the fellow employees, walked away because the market is down and he doesn't want to get into it now. Everyone (all the other employees) turned and tried to explain to him the principle of "buy low, sell high." However, this guy thinks he knows everything and that the people "on TV" are saying don't buy. Oh well, I can't be concerned about him, I have to focus on my own retirement, and try to reach my goal of not less then one million dollars, by the time I retire in 20-25 years.

Also yesterday, I received both my last check and my vacation check. I used $100 from the vacation check to pay down my car loan. As you can see (in the right hand sidebar), I now only owe $8,090. Yep, I paid off the extra pennies to get that to exact even dollar amount. At least for one day, before the interest charges started collecting on it again.

As you can tell (in the sidebar), I updated the emergency savings amount. That figure, includes the remainder of that vacation check, as well as the $50 per paycheck (that had been going into my emergency savings). Now, I will have to manually deposit the funds into the emergency fund since the new owners don't currently have direct deposit. Thankfully, both Credit Unions, are right around the corner from each, now that the one with my checking (and bill-pay) has opened a branch downtown.

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Catching Up

2008-07-17T07:16:00.001-05:00

A couple of carnivals that escaped my attention, has been discovered. On July 4th and 5th, articles that I wrote appeared in two carnivals.

Kevin Surbaugh presents Retirement and Financial Independence posted at Becoming & Staying Debt Free, saying, “I’ve been thinking a lot about retirement lately. Now that I’ve repaid my debt, now that I’ve begun to save money, I’m curious how much a person actually needs in order to retire.”
- The Skilled Investor

- and -

Kevin at Becoming & Staying Debt Free, just paid off his mortgage, and is now working on reducing his remaining debt! Read his article, “And That Mortgage is Gone!”; Kevin is Mortgage Free!, for the story. Very inspiring!
- Military Finance Network

This past Monday, I mowed the lawn and got caught up with that after 3 weeks. With only one day off from work, it is sometimes difficult to actually mow. Especially, when it rains on that day. This next week, my day off will be changing, so hopefully, it will be a better day to mow.

I can actually see my desktop for the first time in months. Question is, can I keep it cleared?
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Ronald Reagan Speaks About Debt???

2008-07-16T23:52:00.000-05:00

Clever Quotes Rewritten to address debt issues:

It isn't that people in debt are IGNORANT, it's that they know so much that isn't so.

Yes, the famous quote from Ronald Reagan can easily be applied to debt, by only changing a couple of words.

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Bank Failures Is It A Reason For Concern?

2008-07-15T13:37:00.002-05:00

In the past few days, we have seen the second largest bank failure in history. Prompting the FDIC, an arm of the federal government to step in and take over Indy Mac Bank. In large part, the problems at Indy Mac were created by two issues. One was the writing of to many bad mortgage loans and second, when their stock started to tank, depositors started pulling out their funds in June and through the first couple of weeks of July.

Because of the troubles at this bank, we have been seeing all bank stocks taking a huge dive. Prompting listeners to the Dave Ramsey Show to email Dave, wondering if they should withdraw their deposits from their local banks. Ramsey's response is that we are not in a crisis, despite what you hear on TV. According to Ramsey, he is not going to remove his money from his bank. His advice is to remain calm and stay the course. Everything will shake out and rebound in the long run.

Still, in the wake of the Fed takeover of the Indy Mac Bank, Nightline, plays up that fear mongering, by reporting that many bank stocks were falling. Most of my accounts are at credit unions, but one bank (Washington Mutual) that Nightline mentioned, is one that I have my ATM/Checking account at. The account, that serves as my Food (grocery) budget envelope. On WaMu's part, they told Nightline, that they were not in danger of collapsing. Although that would depend on the depositors and if they decide to make a run on the banking giant. For me though, I will leave my balance (currently $6) in the account and continue making my bi-weekly deposits to do my grocery shopping.

WaMu problems is in part by being another bank that wily-nilly handed out option-ARM's, to people who couldn't afford a mortgage at all.

Downey Savings, based in Newport Beach, and First Federal Bank of California, based near Playa Vista, were specialists in so-called option-ARM loans -- the adjustable-rate mortgages that let borrowers pay so little that their loan balances would rise instead of going down. Washington Mutual was a major option-ARM lender as well.

Most option-ARM borrowers had passable credit scores, but Downey and WaMu also made loans to borrowers with blemished credit. Those subprime mortgages began defaulting in large numbers in late 2006, and option-ARM delinquencies have risen sharply in the last year.
- LA Times

These banks as well as the borrowers, who were not really qualified, are to blame for the current mortgage mess. I don't believe there should be any federal bailout for these banks and mortgage holders. I don't have any problems with the FDIC insurance program doing their job, but those mortgages should not be bailed off. If you can't afford the loan, you have no business borrowing the money. Then again, I really don't think anyone should be borrowing, instead they should save their money up and pay cash.
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Birthday Thoughts

2008-07-13T11:01:00.003-05:00

Today marks a milestone in my life. It is the day that I turn 40. I am excited about turning 40, but it hasn't always been that way. There has been times that I have been depressed, sometimes depressed enough that I wanted to kill myself. However, I always knew there was so much more to live for.

I was depressed to that point, because none of my hopes, dreams and goals had been achieved. I never in my wildest imaginations had ever thought I would still be single at 35 let alone 40. My goals included being an accomplished writer before I was 30. In addition, I planned to be elected to Congress by this time as well. Well, suffice to say those goals and dreams never materialized. I am at a job, that 5 years ago, I hated, but now love. I have virtually no savings, from years of trying to impress everyone else by buying stuff, I couldn't afford and didn't need.

Which means, now, I am working hard to pay off my debts, so that I can build that savings. In the past few years, I have achieved small goals. Especially over the last 2-years. I have moved up the ranks at work. Not only that, but I have seen my debts move in a downward trend, while my net worth has slowly and steadily increased. I expect to have all of my debts paid off before I turn 41 next year. A goal, as long I remain steadfast I should accomplish by June next year, at the latest. So heres to the past 40 years and to a terrific future, as I start down the other side of the hill.

My plans today, include a long hard day at work. Dinner, at I-Hop (with a friend) and possibly culminating the evening by going to my first ever roller derby match. A match between Topeka's own Capital City Crushers and Wichita's ICT.

I would like to thank those who have commented on this blog, on the blog at liveJournal, on Facebook and over at MySpace.
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Looking Forward to Sunday

2008-07-11T09:40:00.001-05:00

A couple of days ago, I received a birthday card from my insurance agent. I was surprised when I seen it. Not that the practice isn't done by insurance agents, but because I hadn't seen mine do it before. So far, it is the only birthday card I have received. Right now that card is displayed in my leaving room. However, soon it will be in the shoe box with all the other cards I have received, since I started collecting cards.

Looking forward to Sunday, when I crest the proverbial hill, I have been thinking about things to do, while not damaging the budget to much. I have thought, I would go to I-hop for dinner after work, and then go to see my first roller derby match. It was just, last week, that I first found out, that Topeka even had a roller derby team. That team is known as the Capital City Crushers.

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Updated List of World Gas Prices

2008-07-11T08:53:00.003-05:00

This morning, I came across an article, that compared gas prices around the world. As you can see, the USA prices aren't (represent by Los angles, CA and Topeka, KS) aren't that bad in comparison to the rest of the world. Although, it is small comfort. In fact, I would love to have the price they pay in Mexico, although the prices from the middle east would be far more desirable.

Gas prices in world cities

City	Reg. price in USD/gal.
Oslo	9.85
Paris	9.43
Copenhagen	9.24
Rome	9.03
London	8.96
Berlin	8.68
Hong Kong	8.05
Seoul	7.33
Sao Paulo	6.38
Tokyo	6.30
Singapore	6.13
Nairobi	5.94
Sydney	5.57
Montreal	5.57
Vancouver	5.50
Santiago	5.18
Toronto	4.98
Mumbai	4.94
Bangkok	4.78
Los Angeles	4.57
Johannesburg	4.41
Moscow	3.90
Topeka, KS	3.87
Havana	3.75
Buenos Aires	3.56
Beijing	3.40
Mexico City	2.62
Dubai City	1.70
Cairo	1.24
Kuwait City	0.92
Riyadh	0.47
Tehran	0.41
Caracas	0.12

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Exploring Rollover Options

2008-07-08T08:09:00.000-05:00

This past week, I started my quest to find the funds, that I would be rolling my 401-K over into. My first stop was at a local Credit Union (Educational credit Union). Unfortunately, the only funds they have would be a traditional IRA and/or CD's. Not any funds that would be aggressive and help grow that money over the next 20 years. Well, that is unless you want to settle for only 2%-3% interest. The best interest rate at the Credit Union would be a 60 month CD, with only a measly 3.80%. For an account that is currently on about $3,000 that is not enough to help get that up to the 1 million dollars or better that I need to live on in my retirement. Rather, I need something that is at least 12%. The lady at the Credit Union, was very happy to help and assist me with my questions. She even that I was doing the right thing to investigate my options and to try to determine the funds I wanted to roll into ahead of time.

That was very different to my talk with the people at one of the local banks. When I arrived at Core First, they were annoyed that I was even seeking information, without having the rollover kit in my possession. After being shuffled into the cubicle of some gal, that spoke briefly about the readitional IRA, Roth IRA and the CD's. She gave me the card of someone in their investment department and told to call him, once I actually had the rollover kit. Indicating, that they weren't interested in talking to me and helping me to get informed without that rollover kit. Something, that I won't actually see for another month or two, since I have two weeks, before my place of employment is sold. Of course, I could give the bank a second chance and call for an appointment with the financial counselor, but my gut reaction is if they don't want my business, then they won't get it.

I left that bank, and headed for work. The next stop, on my investigation trail, would come on my day off. Everyones needs are different, but for me, I need something aggressive. Something that will grow with an average compounded 12% interest/dividend every year. That is why my next call, was to Roger Schumaker of Retirement and Tax Solutions (5909 SW 28th), in Topeka, KS). My appointment was Monday afternoon. I think, based on my personal knowledge of Roger, that he will be who I end up working with.

From the moment, I walked into Roger's office, I knew this was someone that actually cared about my investment and my future retirement. The thing is, it's not just finding someone that can do the job, but someone that will take the time to help you be informed about what you are going to do.

We discussed two options that he recommended one was "unit investment trusts", by First Trust.

A Unit Investment Trust is a fixed portfolio of securities, held for a predetermined time, investors purchase units which represent an undivided ownership in the securities contained in the portfolio.

While this option looks interesting, I am not sure it is for me. Sure it is more aggressive then the most aggressive mutual fund, he gave me information on. However, I do not want to be re-evaluating my retirement portfolio every 15 months or so. So that takes me to the other option that he presented. That being those mutual funds.

Since, I personally want something aggressive, I automatically eliminate the moderate and conservative funds. That leaves either growth or moderate growth funds. The family I am looking at is the TransAmerica Funds and is MorningStar rated. Both have an average return of more then 12% over the last 5-years. Last year the growth fund had an impressive 8.69% and the moderate growth had a 7.97%. However, the market is horrible right now, so it is quite possible, that the return this year, will be no where close to even last years low numbers. Even so, it would be an awesome time to invest, while I can get in at lower costs. Allowing me to ride the tide back up. The question is, do I have the stomach to all my retirement fund to ride out the current down turn. I think, I can do it. That is why I don't want to be forced to look at and re-evaluate my investment every 15-months.

For me, I think, the unit investment trusts would be perfect for my automobile savings. It would be a fund that, like a CD, would allow me to cash out part of the funds at maturity, to buy that new car. After which, I could reinvest whatever is left, to continue saving for the next car. However, for my retirement, I don't want to be watching the funds that closely.

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Exploring my Options

2008-07-07T10:49:00.001-05:00

I have an appointment this afternoon, with a retirement specialist to discuss my options to rollover my 401K, when I get that in about a month. I talked with 2 others, last Thursday. One was enthusiastic and even commended me for wanting to get informed ahead of time. The other acted like they didn't want to even talk to me, until I had the rollover kit in my hand. So know, I am going to talk to a third one.

The results (review) I gathered from all three will be the topic of my major post tomorrow (as well as my CJonline post).

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Independence Day

2008-07-04T10:47:00.001-05:00

By the time this article posts, I will be half way through my 6 hour half day at work. On my way to spending a few hours volunteering for the Spirit of Kansas (Topeka's 4th of July Celebration). However, I wanted to wish each and every one of my American readers a very Happy Independence Day (aka 4th of July).

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Hashing Out July's Monthly Budget

2008-07-03T07:19:00.003-05:00

I know, many of you might be asking, "you are single, who are you hashing it out with?" But, even though, I may be single, I am still hashing out that budget with the free spirit me and the sensible tightwad me.

So with that, here is that budget for July 2008.

Item	Budgeted	Actual	Owed
GIVING
Tithe/Charity	$??	$???
subtotal	$??
HOUSING
Mortgage	$0		$0
Insurance	$0
Maintenance	$0
Taxes	$0

subtotal	$0		$0
UTILITIES
Electric	$100
Gas	$50
Water	$40
Internet/Basic Cable	$50
Phone	$0
Cell phone	$50
Trash	$15.50

subtotal	$305.50
FOOD
Grocery	$100

subtotal	$100
Transportation
Auto Gas	$70
Insurance	$0
Maintenance	$0
Tags & Taxes	$0
Car Payment	$400		$8,524.41
subtotal	$470		$8,524.41
CLOTHING
Sunday Best	$0
Work	$0
Everyday	$0
subtotal	$0
MEDICAL/HEALTH
Prescriptions	$0
Deductibles	$0
Eye Doctor	$0
Insurance	$0
subtotal	$0
RECREATION/Memberships
Entertainment	$0
Dating	$0
Optimist Membership	$40
Farm Bureau Membership	$0
Subtotal	$40
DEBTS
Providian Credit Card	$0		$0
Fingerhut/WaMu	$70		$1,012
Black Gold Insulation	$0		$0
IRS	$0		$3,795.52
Subtotal	$70		$4,795.52
TOTAL	$985.5		$13,331.93

In addition, my retirement post made it into the Money Hacks Carnival, check it out.

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Giving Blood For a Free Car Wash

2008-07-02T10:11:00.002-05:00

This morning, I went downtown to give blood. The reason, was to get a free car wash, at the premier auto detailer here in Topeka. I really wasn't interested in the t-shirt that was also being given away.

Well, anyway when I got there, everything was going well. That is until they seen all the neurofibromas (from my neurofibromatosis) on my arms. It was the first time that I had ever heard that neurofibromatosis could prevent someone from giving blood. I suppose if they didn't know what it was, then I guess that would be cause for concern.

Still, though I was able to get my FREE car wash certificate for a FULL service wash.

Full service includes an Exterior Wash, Wiping Off Dash, Emptying Ashtrays, Vacuuming Seats, Vacuuming Floor & Mats, Cleaning Windows.

Of course I have upholstery that I can't seem to get cleaned, but that would be extra. How much extra, I am not sure. Probably still won't be able to get them cleaned at this time. However, it would be nice to at least get a quote, when I use my free car wash.

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Links Galore - From Carnivals and Congrats

2008-06-30T13:33:00.001-05:00

I would like to thank a couple of blogs that have chosen to link to recent articles on this blog.

The Carnival of Financial Learning, linked to my post about Retirement and Financial Independence. I would like to thank Faron for the link love.

The other was from Tricia over at Blogging Away Debt, where she congratulated me on my mortgage retirement. Thank you Tricia for the link love.

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Wal-Mart To Introduce New Logo

2008-06-30T10:27:00.001-05:00

It is being reported this morning, that Wal-Mart plans to change their logo. The design, which is already appearing in advertising will show up on signage later this fall.

The old signage, appeared as Wal-Mart, with a star in the place of the hyphen. The new logo, will seemingly copy the Kmart logo, by pushing the wal and mart together. It will then place an orange star burst at the end. Take a look at the two logos on the right, to compare the differences.
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What Lifestyle Changes Should I Make to Adjust to Rising Gas Prices

2008-06-30T09:49:00.001-05:00

Wow! I am sure, everyone reading this article, has already heard in the news that economist Benjamin Tal, is predicting $7 a gallon gas within 2-years.

A new forecast calls for gasoline prices to hit $7 (U.S.) a gallon in the next two years and oil to soar to $200 a barrel by 2010.

The report by CIBC World Markets also predicts there will be 10 million fewer cars on the road in the United States by 2012.
- GlobeAndMail.com

I for one, with increasing frequency, have been thinking about how I can reduce my time behind the steering wheel. Perhaps, I could use my bicycle more. It certainly would be the cheapest option, but I have been thinking more along the lines, of purchasing a scooter (moped). With a moped, I could get everywhere in Topeka, as quickly as I could in my car, without using the amount of gas, that my car uses.

Economist Benjamin Tal, who co-authored the report with Mr. Rubin, said Canadians can expect to pay about $1.85 to $2.00 per litre of gas at the pumps by 2010.

Mr. Tal also expects the numbers of Canadian vehicles on the road to drop by 700,000 by 2012 – much less than the 10 million predicted in the U.S.

“We don't have the same story in the sense that most low income Canadians have better access to public transportation,” he said, referring to the report's U.S. calculations that estimates that about half the cars coming off the road will be from Americans who make less than $25,000.

- GlobeAndMail.com

While, I currently make less then $25,000, I don't plan on getting rid of my car completely. Perhaps, as I mentioned previously, I would find other means of transportation. I would love to use the Topeka Transit, however, the cities bus service, is severely lacking. Unless you are one the state (our largest employer in the the city), city or county government employee, the bus service really doesn't offer service for you. The bus service here operates from 6am-6pm. If you are a high school kid working at the mall until 9pm, or a shift worker, or otherwise working later then 5pm, then there is no realistic public transportation for you.

With that in mind, I again turn my thoughts back to the idea of a moped. I haven't been on a moped since my days in college, but it seems it is the most economical option, for local transportation. I then would have my car, for longer trips or travel in poorer weather conditions. Like cold weather. Though, I remember, driving that old moped, back in the early 90's, in cold weather and even on ice, trying to get to work.

So, what about you? What are your thoughts? How, have you been thinking of getting around? How do you plan on cutting your gas consumption?
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Promoting Entrepreneurship

2008-06-26T08:34:00.002-05:00

Growing up in eastern Kansas, I have been familiar with the Kauffman family for years. Former owners of the Kansas City Royals, until Ewing Kauffman passed away. Ewing Kauffman's money comes from the company he founded. Marion Laboratories Inc., which he sold to Merrell Dow in 1989.

Ewing Kauffman’s most enduring legacy to his community and the world is the Ewing Marion Kauffman Foundation. He established the Foundation with the same sense of opportunity he brought to his business endeavors, and, with the same convictions. Kauffman wanted his foundation to be innovative, to dig deep and get at the roots of issues to fundamentally change outcomes in people’s lives. With nearly $2 billion in assets, the foundation is extremely prepared to meet those goals. One of those goals is to better understand the phenomenon of entrepreneurship. Not only that, but to help further advance entrepreneurship education and training efforts.

College entrepreneurship, is one of those methods. Helping universities become more entrepreneurial, not only in what they teach but also in what they do. The foundation is also strong in encouraging and educating minority entrepreneurship.

The Kauffman Foundation, is a very worthwhile organization that I think I will be much more involved with now. Perhaps, I should even look to them for my own entrepreneurial spirit.

brought to you by your friends at The Ewing Kauffman Foundation
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"And That Mortgage is Gone!"; Kevin is Mortgage Free!

2008-06-26T08:12:00.003-05:00

I had previously reported that I had paid $99.02, last Thursday. Well, I am happy to now be able to report, that AmeriFirst has posted that payment. As such, I am now 100% inequitably mortgage free. I am so thrilled, to finally, have that mortgage company off my back. No more home improvement debt to hold my finances down.

I can now turn my focus onto my Fingerhut debt. As I reported, earlier this week, that Fingerhut is being rolled over to a 0% transfer credit card. Interestingly, it is the same company that had bought out my previous credit card and refused to lower my interest or increase the credit limit. Now, I will be able to payoff the Fingerhut debt without incurring additional interest on the debt. I am hopeful to have that debt eliminated by November, but we shall see what happens.

All, I need to do is get this card and the car paid off, and I will be debt free. Well, except for the IRS, which has my debt deffered. As much as i would like to have the car paid off by the end of the year, I think it would be more realistic, to have it paid off by July 13, 2009. That means I am making the goal to be paid off before my 41st birthday.

My goal is to not only be debt free by that day, but also to celebrate my birthday with my first trip to New York.

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spending: June 24

2008-06-24T07:51:00.001-05:00

Yesterday, I went to the Home Depot and finally got the final 14 door handles for my kitchen cabinets. In addition, I got the replacement door bell, that I have been needing to replace the broken one. The replacement one, is a wireless one, instead of the electric one (like the old one was). Over all, I spent $114 at the company that doesn't care about high gas prices (or the environment), as they only offer plastic bags to their customers. Paper bags for some reason are out. Even though, 12 million barrels of oil is used every year to make the plastic bags we Americans use. Like cutting back on the use of gas, if we cut back on the use of plastic bags, we would reduce the demand on oil and thus lower oil and gas prices.

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Retirement and Financial Independence

2008-06-24T07:46:00.001-05:00

In the May 2008 issue of Money Magazine, 3 blogs were listed as the "best money blogs." JD over GetRichSlowly.org was listed as the "Most Inspiring." While MyMoneyBlog.com was named by the magazine as the most voyeuristic. The other, was named most sensible. While, I enjoy reading the third blog, this article is more about the recent articles published by the other other two. Both of them had recent articles, regarding retirement.

This may seem strange coming from a fellow who’s not yet forty, but I’ve been thinking a lot about retirement lately. Now that I’ve repaid my debt, now that I’ve begun to save money, I’m curious how much a person actually needs in order to retire. How do you know when you have enough?
- JD Roth, GetRichSlowly.org

Since, I am someone who will be 40 in about 3-weeks, this paragraph caught my eye. I have been concerned for some time, especially the past 2-years about my retirement savings. My 401-K is very small, and wouldn't even get me through 1-year. Yet I am to retire in about 25-years? How am I going to do that?

Now, due to the sell of my place of employment, I will be moving from my 401-k to a simple IRA (with a 3% matching contribution). As a result, I will need to find a place to roll my 401-k into. Not sure, at this time, where I will place this retirement investment. I do know, though, that there is no way in hell, that I will leave the funds invested in my soon to be previous employers account, even though that will be an option for me.

I have considered rolling it over with ShareBuilder.com and I have also considered working with one of my Credit Unions to roll it over with one of them. Still, I am not sure. I guess, when I get the paperwork, I will talk to each of these groups and make a decision at that time.

In fact, that ties into what MyMoneyBlog.com was discussing in his post "How Do I Start Investing For Retirement." He has some great advice, for those just starting out, with retirement investing, but the article really doesn't focus (or even mention) rolling a current plan over. Not that it would matter much anyway, as my problem isn't the how, but where.

Like JD, I don't just want to be able to retire, rather, I want to be financial independent. What is financially independent, is what JD asked. Well, I have the same question. Originally, I thought $1 million dollars would be enough, but with rise gas and oil prizes maybe I should raise that goal to $2 million (and then some).
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