30 Million Americans May Be Eligible In Class-Action Suit - Have not had a chance to look over all the info but may be useful to others.

I’ve got billions and I don’t like to spend it - These are my favorite type of people. I’ve lately come to the idea that I would like to cut out as much spending on non-appreciating assets as possible.

I post this every year around this time. Skip out on Black Friday and Buy Nothing!

What Really Buys Happiness? - Income inequality vs mobility and opportunity.

The Crossover Point - A good read about what should probably be your financial goal: Independence. Read the article and the comments have some links to spreadsheets that you can work with to figure out your crossover point. If you want to do it yourself so you can adjust the numbers how you want, here is what I did.

I have 6 columns in a spreadsheet:
1) Years Away - 0 thru 30 or you can do Age if you want.
2) Income- This year’s income and then a calculated 3% raise a year (a1 * 1.03 and drag down the column)
3) Expenses - I calculated at 85% of income - adjust accordingly.
4) Savings - Income minus expenses or Income * .15
5) Investment Sum - I used 9% return (adjust accordingly). I entered my starting savings in the first cell and for the second entered the (previous Investment Sum + 1.09) + current savings. For Instance Cell E8’s formula looks like =(E7*1.09) + D8
6) Investment Return = Investment Sum * .09

Now watch the Age/Years Away for Investment Return surpasses Expense and Income. You can adjust your savings rate to see how much you need to save per year until you reach finanical independence. Very cool!

Update: Or you can just visit WhatsMyCrossover.

Well I just finished the closing. I am feeling a bit sick to my stomach. The process was not bad but damn, everyone gets their hands in the pie when it comes to real estate. Things I learned about buying a house:

1. Get a real estate agent who knows the area you want to buy in. I was undecided about a couple of areas and went with a recommendation. She was not bad but I wish she had known the area I bought in a bit better.
2. If you get the seller to pay closing costs then be conservative in your estimates or you are just giving money to the seller. My seller made an extra $300+ because my agent overestimated. Take 10% off what your agent estimates closing costs will be and be prepared to cover that on closing.

If you try and do it own your own good luck. I have no idea how you would buy or sell on your own when it comes to getting the forms, how to file, etc. If someone out there has done it on there own, please leave a comment on your experiences.

Buying vs Renting - Now that I am about to close on a house I am reading all sorts of articles about how buying is not necessarily better than renting. WTF? Anyway the title link is a great tool to find your break even point.

Hugh’s Mortgage and Financial Calculators - I am seriously thinking about buying a house. Feel free to leave tips/suggestions in the comments. The online calculators have been pretty useful so far.

OK, I’ve been getting the emails again about doing a gas boycott. In the past I would respond to the sender and everyone in the chain who has forwarded it along and call them retards while trying to educate on the basic principles of economics. I am getting too old and there is way too much stupidity in the human race to constantly fight it (look no farther than the popularity of Mind of Mencia and Are You Smarter than a 5th Grader for evidence). I am forced to give up fighting the good fight. I’ll let the Consumerist handle it.

Footnoted - is one of those great websites that works for its content (unlike the one you are reading). They flag what is buried under SEC filings on possible misuse of corporate funds by executives. Good stuff and if you are a stock holder, enough to piss you off good!
See also Mouseprint for a similar site geared towards consumers.