Restaurant.com 80% Off Coupon Code
How I wish I could take advantage of this, but there's not a single restaurant in my area that I like on Restaurant.com. I am not one to pimp useless items or promotions. However, I highly recommend you at least check the site out NOW because through 8/31 they are giving 80% off on their certificates with this coupon code: Read more
Schwab 2% Visa: The Final Countdown
Anecdotal reports are flowing in on FatWallet and other blogs that this is the Final Countdown to the end of the Charles Schwab Invest First 2% VISA Credit Card (with 0% foreign transaction fees). I'm still hoping the rumors are false or only for select customers. We should know soon since letters were supposed to be sent out shortly.
If this is true and this is the beginning of the end, it's a very sad day for me. I've loved this card for a long time. It's served as my primary card for all puchases (except gas PenFed 5% and groceries AMEX 6%) since April 2009.
UPDATE:
Here's the text of the letter I received from Bank of America dated August 22, 2011. The only hopeful news is there is no clear end date posted. *****New letter received 9/14 puts my drop dead date at October 31st. SIGH****
I've reaped about $1,500 in rewards thanks to this card alone. All of that money went into a Schwab brokerage account where I bought Schwab-branded ETF's commission-free. It's been a great run, and I may just leave the money there to see how just how large my FREE nest egg can grow.
So, what do you do if this has been your primary card too or you're in the market for a 2% cashback card. The reports suggest reps will try to get you to convert to a Bank of America card with the potential to get 1.5%. I don't see myself taking that offer in my lifetime simply because it's B of A, let alone the drop in cash back. The good news is that a roughly equivalent card exists. Just head right over to Fidelity and pick up the Fidelity Retirement Rewards American Express Card. It's very similar to the Schwab card, but it does charge foreign transaction fees unfortunately. Read my review.
Another option is a VISA Signature card from Sallie Mae which also pays 2%. You can read that review here.
Links from FatWallet showing the new HORRIBLE Bank of America offers to replace the Schwab card:
What I’m Buying Today
Today, I'm probably going to buy nothing except Sour Patch Kids Extreme. Did you know you could buy these in bulk on Amazon? They are fan-fucking-tastic. I could eat these forever.
But, perhaps you were thinking more along the lines of investing since that's what this blog is about? 
I understand. Well, it's looking like I will buy nothing. Yesterday's 400+ run up means the market needs to pull back again in a meaningful way for me to continue to accumulate shares. That is, shares no longer feel cheap to me. They feel frothy. I don't like froth. I'm basically happy with my purchases to date and will ride these out unless there's another downturn to buy more. Note, I have not been buying or selling any options in this mess. That goes beyond my risk tolerance. BLARG! Then the market went and cratered at the close so I bought some more ETF positions. Just 1 and 2 share nibbles since there are no commissions on my ETF's. I'm just dollar cost averaging down on these long-term investments.
To recap what I have been doing, here's a list of roughly $15k in new positions in the last week: Read more
When There’s Blood in the Water…
It's time to go fishing. The relevant Warren Buffett quote on a day like this when the DJIA falls over 500 points is:
"Occasional outbreaks of those two super-contagious diseases, fear and greed, will forever occur in the investment community. The timing of these epidemics is equally unpredictable, both as to duration and degree. Therefore we never try to anticipate the arrival or departure of either. We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
So, today I was being greedy and buying. In my long-term portfolio I bought IVV, VNG, VWO, VBK, and VTI. All of these trade commission-free at Ameritrade, and I bought most of them within 15 minutes of the close.
Tomorrow, if the sell-off continues, I want to cherry pick some specific blue chips.
What about you? What did you buy or sell today?
Quest for a Million – Net Worth – 8/2011
Net worth (ex-real estate) took a hit this month largely due to the gutless, witless political posturing by the folks in Washington that mired the equity markets for the past month. I look forward to an equally disappointing display from both parties in the coming months as they fail to overhaul the tax system or revise entitlements. It should be great fodder for the Daily Show though.
On the homefront my employer was purchased near the end of July. This leaves me in employment limbo for the next couple of months as the purchase moves through the regulatory review process. Thus, buying restraint is in full effect at our house as we try to build a larger cash cushion just in case I lose my job. I consider that an unlikely scenario, but I'm leaving nothing to chance. I have submitted my resume for one new position and alerted my network to be looking out for any possible for positions for me. Separate from that, 4 cavities in the kid's mouth represents an uninsured and unexpected $1,000 debit. It turns out that flossing thing is kind of important. This has even inspired me to start flossing! Perhaps I'll have a nicer smile on interviews. That's looking at the bright side.
Down to the business of the family finances. My home appreciated 2% on-paper this month according to Zillow. I'm happy to see this because it's a nice offset to the on-paper losses in my retirement accounts and 529 plan. Savings is artificially inflated by about $5,000 in business expenses. You can see the corresponding liability in my credit cards.
As I write this the DJIA is down 250+ points. If this keeps up, I'll be buying on the dips as I still hold a significant amount on the sidelines. I tried to get in just before the close today, but missed it by seconds.
Net Worth August 2011
| ASSETS | This Yr. | vs. Last Mth. | ||
|---|---|---|---|---|
| Real Estate | ||||
| My Home (Zillow) | $368,200 | -4% | 2% | |
| Savings | ||||
| All Accounts | $35,547 | -5% | 13% | |
| Retirement | ||||
| All Accounts | $228,666 | 12% | -1% | |
| Investments | ||||
| 529 Plan | $12,360 | 25% | -2% | |
| Brokerage | $5,385 | 2% | 5% | |
| Total Assets | $650,157 | 2% | 1% | |
| LIABILITIES | ||||
| Credit Cards* | ||||
| All Accounts | $11,325 | |||
| Student Loans | ||||
| All Accounts (1.5% and 2.5%) | $64,924 | -7% | -1% | |
| Mortgage Loans | ||||
| My Home (4.3875%; 30 yr fixed) | $297,864 | -1% | 0% | |
| Total Liabilities | $374,113 | -2% | 1% | |
| NET WORTH | $276,045 | 8.4% | 6% |
* Credit cards paid in full every month every time.
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