Episode-1679- Expert Council Q&A 11-20-15 — 7 Comments

  1. TELL ME
    if you had one of my meads tell me the kind and
    A) how did it smell?
    1) when you opened it,
    2)after about 3 mins,
    3) in the glass after you poured.
    4) how did it smell after your taste.
    B) color?
    1) When you look at it threw the bottle
    2)How clear is it
    3)does it foam when you open or pop
    4) does it lose color after opening or does it get darker.
    1) when it first hits your tongue, what is the first thing you taste
    2) what is the long take like, where does that taste of the mead set in your mouth
    3)the back taste, is there one, what is it
    4) is there a honey taste in any of the three
    5) does it feel warm after hitting the tummy
    Rate it 1-10
    **did you like the gold flake in the bottle. Egyptians had discovered that by eating powdered gold, one could become immortal.** “Grendel’s Tears”

  2. Jack’s comment on how to manage 401k- I essentially agree with everything he said and that’s the method I tried to use when I was an employee and stuck in a 401k.

    As to how I trade as an “ACTIVE” trader- my two key objectives are 1) Identify a Trend & 2) Mitigate Risk. For the most part, 2015 has been trendless, with the market locked in a fairly narrow range and offering little upside (5-6%) with a deep downside risk (negative 15-25%). For those reasons (no discernible trend and high risk), even though I’m an “active trader”, since 2nd Quarter I’ve remained mostly 50% in a US dollar ETF and have made very few trades, keeping the remaining portion of my portfolio in a money market fund.

    ACTIVE trading doesn’t mean STUPID trading…year-to-date the market is ONLY UP 1.5%…why take the RISK? Everyday when I make the choice NOT TO TRADE, I’m making a “trade”, which is to remain safely in a money market fund.

    Here’s a link that I just posted, showing a chart with the “breakout” needed for the market to hit a Santa Claus rally that the Talkingheads are hyping- I think it’s unlikely:

    Also, here’s a good article that compiles recent CEO comments- not much good news:

    For more info, check out my market commentary on the Wealthsteading Podcast

    • Jhon

      Whats the difference between a Secured and Unsecured Credit Card?

  3. As for building credit, here are just a few tips:
    * Opening multiple credit lines actually helps more than just having one, as long as they are all in good standing.
    * Apply for an entire batch in one day: Use your local credit union, bank, a couple dept stores, Visa, Mastercard, and Discover. This way you can try for numerous lines, yet they won’t all see each other’s simultaneous inquiries (credit reports update over-night).
    * Never fill any credit card/line above 1/3 of its limit. It hurts your overall credit score. (Your goal is to make sure your “high use” value never exceeds 30% of the “limit” as it shows you to be a “risk” to vendors reviewing your report, even many years later…someone that uses to much of the “rope” they offer and thus just might hang yourself one day, financially speaking.)
    * Don’t transfer small balances from a bunch of cards all over to fill up one. It’s better to have <10% usage on each, than 33%+ on one.
    * Don't let accounts sit unused for long periods of time. Charge SOMETHING at least once per year, otherwise you risk A) an annual fee being charged against you ($20-$50), and/or B) the account getting closed for non-use (vendors feel these unused accounts are unnecessary financial risks to them.)
    * Do not allow them to convert lines to "signature" cards/accounts (no set upper limit). Keep accounts as having actual limits. Otherwise, the credit score calculations can/usually trigger ANY usage as being at a ratio of at/over the limit, and thus lower your overall credit score.
    * Yes, regularly call and ask credit companies to increase your credit limit. But, do NOT let them check your credit report each time as it hurts your overall score to have more than 4 inquiries in the past 10 months. Instead, just allow the companies to do an "internal" review of your account, based on your history with that vendor. You may occasionally allow a "soft" look t your credit report. Then, once every 6-12 months allow a "hard" look at your credit report, if you know it's already good and clean.
    * Installment loans (mortgage, car loan, borrowed cash line) look better than just revolving accounts (credit cards). Having 1 installment for every 4-5 revolving helps "balance" the look of your overall credit report "portfolio." Thus, to boost your credit score fast, you can deposit money into a bank account, which is then used as collateral for a "personal" loan back to you at a high interest rate. Cost you money? Of course. But, if you just barely miss qualifying for a loan, having this new installment credit line can instantly boost your credit score enough so as to suddenly qualify for the next lower tier of mortgage rates, or make the difference between getting approved for a home/car loan overall or not. Pay to play sometimes.
    Hope it helps.

    • Great points on building credit! One thing I would like to add about charging everyday expenses like gas and groceries – I got myself in trouble doing this a few years ago because I spent some of the money in my bank account for other things and then at the end of the month there wasn’t enough to pay off the credit card, so I ended up carrying a balance and paying interest on it, and the problem snowballed. If you might forget why you have so much money building up in your checking account but you want to use this method, you don’t need to wait until the end of the month to make a credit card payment. Each week or so, you can see how much you’ve put on the credit card and send the card company a payment for that amount. By the end of the month you’ll only owe for the previous week’s expenses.

      I actually find it easier now to track day-to-day expenses by putting them on a credit card, then I keep a spreadsheet of charges from my monthly statement and I can see where my money is going. When I pay for everything in cash, my money just seems to evaporate and I can’t remember where it went.

  4. As for fat: Eat it! Just don’t mix it with carbs/sugars. If you suffer from any sort of digestive issues, try following proper “food combining” rules. They are diverse all over the internet, but try as few of them because they can be complete life-savers. Things like:
    * eating sweets/fruits/melons ALONE. NEVER fruit for dessert after other meals.
    * only drink water before meals, limit it during eating, and little/none for at least 2-3 hours after eating so as to not dilute digestive process/juices/acid.
    * eat a majority of protein OR starch in any one meal, but never large amounts of both. For example, have:
    > 1) meat portion (steak, chicken, fish, etc) + small amount of potato/grain/starchy veggies + some (not lots) of other non-starchy veggies
    > 2) a1) very little or preferably NO animal protein + a2) instead a majority of potato/grain/starchy veggies + b1) some (not lots) of other non-starchy veggies OR b2) some legumes.
    Things like that make it so much easier to digest that you’ll never have indigestion again, without meds.
    Hope it helps,

  5. On poison ivy… in addition, one plant I’ve used to fill that niche after ivy removal is Indian Strawberry (Duchesnea Indica Tuttifrutti). In zone 5 Indiana/Michigan areas it likes a shaded moist environment, covers the ground well, and produces insipid edible fruits on average. If you can get it established it should take off.