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Welcome and General Discussion / Re: Lesson learned...lendingtree
« Last post by SC93 on Today at 06:12:51 PM »
I always use a google number for most things. lol
US$500k not including my house.

But would vastly prefer not to still be single at that point.
Welcome and General Discussion / Re: What's in your change jar?
« Last post by SC93 on Today at 06:09:45 PM »
Have a cash business so I see a quite a bit of change.
 Several years ago I offered to split the change between myself and the two grandsons. All they needed was an account in their names (silly me I thought the step and her husband might continue to add to it for school) I asked every week or two if they had the accounts yet but they were always busy.
 Finally I took it to my credit union that had a counter and dropped it off. There ended up being just over $900 so $300 per kid and the same for me. I asked occasionally and showed the dad the cash in my office desk drawer and told him all he needed was an account for the boys. Still busy. Eventually I used it for a RV trip with the boys. 5 years later the stepson and his wife are over and I make the same offer for my newly accumulated change. She's Dutch which I guess is a thing when it comes to accepting free cash, within two days she had opened a separate account for the granddaughter  came over picked up the change and took it right to her credit union and had it counted. $600 apiece for the granddaughter and I but now it has to remain a family secret so as to not upset the lazy parents.
 No good deed.

Secret??? You can bet the 1st thing I would have done is called up the lazy parents and told them what they could have had! I might have even live streamed it to them!

We usually have $500-$800 per year. I never spend change and I only use cash. Our credit union has a free change counter in the lobby. Our plan is to go cash it in next week. I'll update when I find out how much is there.

You only find $1 per year on the ground? You better start looking better. lol About 3 years ago I found 5 $100 bills on our sidewalk.... finders keepers. The other night I found $20 in the WalMart parking lot. My buddy Ronnie finds money all the time. $1-$5-$20. I've been with him several times when he finds money on the ground. As for me... Most of the time I forget to look, but when I do remember, I sometimes find some :(

I went through a couple more boxes in the garage and got rid of a few things.  Good bye non-functioning Christmas lights, some building supplies and one box of total junk are now sorted into the right disposal stream.  The tarps are now stored.  The garden tools are hung up.  The hoses are rolled up and in one location.  The empty bins are washed out and stacked.  I have now emptied six bins so next summer I can go one more pass through all the zones and purge another round. One of the bins contained some really good clothing for tiny girls so I am now washing them and will give them to nieces this week.  If nieces don't want I will try and sell on kijiji. 
I sorted through the mess in the closet under the stairs and while most of it is still there - there is some logic to it and all of the spare house parts are now together on one side.  The Christmas decorations are all on the tree and the broken bits of junk are broken up and sorted into the correct waste stream. 
A number of items from the freezer are now used up.
Hubs returned some purchases we didn't use and that freed up a large space on the work bench.
A large pile awaits the restore and a dump run. 
The house is looking better and better.  And the garage is looking way better as well.  It feels totally amazing to deal with this stuff.  Most of the stuff is not stuff we bought. We found it, or accepted it as hand-me-downs or it was gifts.  This sense of scarcity that I have has really made me feel weighed down with all these acquisitions that I can no longer manage.
Off Topic / Re: What are you EATING right now?
« Last post by Chippewa on Today at 06:02:44 PM »
Ground pork with mushrooms; roasted sweet potato, purple onion, garlic, broccoli; white rice or an IKEA rye-barley lemon jalapeno mixed grain. Maybe I will put it on a bed of arugula. Cooking now...
Or, who knows how many ant farms you could start!!!
Way to go! That's inspirational!

Am I able to withdraw contributions without them being considered a short term capital gain?

Thanks for the help! Fascinating stuff
If you buy an asset (bitcoin, in this case) and then sell it for break-even, then you still have to report it on Schedule D, in order to "prove" that you don't owe any capital gains.  In that scenario, it's just an exercise in paperwork in order to cover your A$$, and remain compliant with the tax code.

If you sell it at a loss, then you should want to report it, anyway, so that you can offset other gains or income with the loss; which would reduce your overall tax burden.

If you sell it for even a $1.00 gain, then the IRS wants their cut.  Period.

Long story short, the IRS doesn't care whether you made a gain, a loss, or broke even.  They're just kind of sticklers in insisting that you report it.  Their specialty, apart from collecting taxes, is assessing penalties, and then collecting interest on those penalties (even after they agree you never owed those penalties -- yes they have assessed interest on penalties I never owed, but that's another story).
Entrepreneurship / Re: Have you been thinking about starting a business?
« Last post by SC93 on Today at 05:56:23 PM »
Online as in selling things online?

Easier in what way? Physically? Yes. Easier as in other ways? Most of the time, no.

But technically, online can be meant to mean a lot of things. I sell washers and dryers online but I actually deliver them in person.

Those lists of 100 best businesses to start in 1971 have been around forever. For most they are just a dream. For those that give it a shot, most will fail because articles like this make it look so easy yet when they get in to it.... it ain't so easy. And then there is that 1 person who will do something from this list and it might change their life!!

So the moral of the story is.... while an online business looks easy on paper, most failed businesses of all kinds looked GREAT on paper!

Quite honestly, I think the things on that list would be complicated to do for the most part. But I'm sure something on there is a 'fit' for someone.
My current employer offers as legal benefits as an option. I signed up for this, intending to do a will, etc after I bought a house.

Almost done. Just need to get with the attorney to finalize the documentation - sign, etc. Just in time too, because I'm going to be giving notice at my job in December. Monday.

Congrats, Sibley.

Well, the attorney doesn't seem to want to wrap this up timely, despite my bugging him repeatedly. So, he can wait for me now. It won't be convenient for me to get to his office for several months (yes, months). We'll see how long it takes for him to get in touch with me. At which point, I will be happy to schedule a meeting, on my schedule.
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