Good news first: We showed our embittered DS that his Berkshire Hathaway stock holding DID contain Burlington Northern (not sure it still does though), so he is feeling a little better. He has identified McDonald's (NYSE: MCD) as his next stock purchase. Lucky for us, custodial accounts require only a $100 minimum. I will put some money into Target (TGT) as well into his college account and into my Roth. Other stocks on his horizon: Pepsico, Coca-Cola.
Bad news: I avoided looking at our accounts for a full week after our return. I doubt I can pay all my bills right now without bringing my money market account below its minimum balance, unless I unload some CDs or some precious metals. I will divide $2500 between what I owe the painter and what I owe on the cards. My goal is to pay the painter in full by August 24 which is well within a 30-day period, and half of the credit card bill by August 27. Was most of what we charged worth it? I guess yes, to be hospitable to my brother, who turned out to be whiny, obstinate and pretty ungrateful for the $2400 we saved him (he threatened to go because only one of us thanked him and his wife for cleaning the kitchen, and I waved good morning instead of spitting out my coconut oil and saying hello. Also complained that he had no car even though he refused to drive, complained we had no television even though hulu.com was available at high speed on the laptops they brought and he knew on past visits we do not have cable). If God exists, it is patting me on the head.
I do not betray secrets, but I see that a friend has been putting money into her investment accounts while she is paying off debt, and I may do that too. She does heavy dividends, which is attractive if the debt balance APR is in the low single digits. Stocks that look good to me are ArcelorMittal (MT), Questcor Pharm (QCOR), Teva Pharm (TEVA) - I think I have this already but will accumulate, and Freeport McMoran (FCX).
Fierce Tug of Avoidance, plus Mentoring Young Investor
August 10th, 2012 at 05:09 pm
August 10th, 2012 at 05:16 pm 1344615419
August 10th, 2012 at 05:21 pm 1344615679
August 10th, 2012 at 06:57 pm 1344621451
Yes, I've adopted the "kill them with kindness" attitude, not sure how I turned the corner, but I continue to amaze myself at how charitable I am becoming, despite complaining from the masses, and comments from people who feel compelled to share what they think about me and my parenting, despite having no right to do so. Probably helps that I mention it here, so I am truly not "martyr" yet (just call me "St. Laura"
August 10th, 2012 at 09:12 pm 1344629525
I started with the Drips before I fully paid off my debt and if debt payment is well on its way I recommend starting investing even that early. After all, if you keep saving after the debt is cleared, you have to figure out what to do with all the money.
August 11th, 2012 at 07:08 pm 1344708521