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| corvetteronw | Investment advice? | ||
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Senior Guru
 
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Retired this year (YAY!). We decided to roll over my pension monies and 403B into a Raymond James fund. Using a local guy who is recommended by Dave Ramsey.
Don't need the money to live on but it will be there in case of some dire emergency or to leave to the kids when we kick off. I am thinking of pulling some of it out and purchasing something that I can wax and drive around on weekends. I'm thinking some kind of Corvette in the $20K to $30K range. Much more fun than getting a quarterly statement, right? What to buy? The criteria: 1. Should not go down in value. 2. Should have the potential to appreciate in the next 10 years. 3. Should be in decent condition and not require a ton of money and effort to maintain. From my vast (?) Corvette knowledge I do not think any C5 or C6 would fit the bill. Candidates seem to be a numbers matching 70-72 vert, Early Callaway C4, Early low-miles ZR-1, low miles LT4 or medium miles Grand Sport. I trust the advice from the guys and gals here much more than the other sites. |
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Posted on: 2012/10/18 1:27
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| Matatk | Re: Investment advice? | ||
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Congrats on the retirement!
I think a more important question is...what corvette do you WANT? I don't think of buying corvettes as an investment...they are a poor one. Buying one that will retain its general value is different, though. Matthew (ps - I know of few "classic" corvettes that don't require a lot of maintenance) |
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Posted on: 2012/10/18 1:35
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2002 EBM convertible, Magnusson supercharger, cam, headers, etc. 1989 Corvette...RIP |
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| teebee | Re: Investment advice? | ||
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2014 Memorial Day Car Show Winner!
 
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Ron, Congrats on the retirement!
I think you are on the right track with your choices. With your price range, I think you should be able to fulfill your desires. I personally like the idea of the Callaway, ZR1 or the Grand Sport. As much as I like the 70-72's, I just think the C4's have what it takes, and are getting close to hitting bottom. I personally think the ZR1's will become the "67 427 Corvette" of the future. Right now they are affordable. Callaways should hold their value as well as the Grand Sports. You and I both know that mid-years are going to hold their value, but, I doubt you can get into one for the money you want to spend (without putting in a ton more). Good luck with your hunt. When the right one comes along, you'll know. |
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Posted on: 2012/10/18 1:51
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| Ultraman | Re: Investment advice? | ||
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2015 Memorial Day Car Show Winner!
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Probably one of the chrome bumper cars would be a good candidate...or maybe the ZR-1's.....or a C6 Grand Sport...
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Posted on: 2012/10/18 1:54
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2010 Grand Sport Coupe Gone but not forgotten... Vote DeSantis in 2024.... Make the IRS go away... |
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| bogus | Re: Investment advice? | ||
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Grand Imperial Pooh-Bah
 
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Ron, long time no hear!
Congrats on the retirement! Whoo-hoo! Now... investments... The only C4 I can recommend is the GS. The others are either too specialized or ignored by the market. The GS uses off-the-shelf parts and will be easy to care for down the road. Many purists see the Callaways as being a hotrod, not OEM. And the ZR1? The LT5 is a great engine, but it scares off collectors as being complex and hard to repair. Both of which are wrong. What is true is a suspect and pricy parts list... 1970-72 is an ok place to put your money, but a better place would be a late C2. C3s have crashed in recent years and haven't fully recovered; and may take years to do so. This could be a good time, tho, to get a bumper car on the cheap. Especially if you are waiting out the next 10+ years. At the current prices, they won't drop much more. If you raised your budget to about $40k you put yourself into a 66 or 67 coupe. These are well built, well supported, easy to care for and fun to own cars. Especially if you get the base 300hp 327 with a 4spd. Not the fastest, but durable and easy to care for. Avoid '64 Vettes... they are flat as hell on the market. Nothing makes them stand out, but they are a good value, just don't expect them to go up... they won't go down, but they also won't go up. I would prefer a 3%-5% appreciation, that's why I like the later cars. Even a non-original C1 is a good cheap car... they won't drop, and if you improve the appearance, they will go up. Another thought would be a vintage car... think 1940 Ford roadster or late 30s Packard. I would suggest, before you buy anything, subscribe to Sports Car Market and start watching ads EVERYWHERE. Auctions do set market prices, but the market moves all the time. |
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Posted on: 2012/10/18 1:57
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The single biggest problem with communication is the illusion that it has taken place. - George Bernard Shaw Education is the best tool to overcome irrational fear. - me |
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| BillH | Re: Investment advice? | ||
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The Stig Moderator
 
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I agree with Matt, Corvettes shouldn't be purchased as an investment, some however will hold their value.
ZR1's - haven't had a price change in 15 years, won't go down but won't go up. And if you need a motor repair - $$$$ Callaways are close to the ZR1's. GS - you won't get a good one for $30k. LT4's are worth a couple grand over a LT1, but they won't go up in value in 10 years. The most IMPORTANT thing for this type of purchase is to get a good car from the get go. If you don't, you'll put WAY more money into it that buying a good one. A C2, yea, very good for holding value BUT you won't get one for $40 though you can pick up a "driver" for $45 and putting $20k into it will make it an investment worth $65, possibily $70 in 10 years. 70-72 MAY be a decent car to hold on to BUT, again, you gave to start with a good one. A Big Block would be the best, forget the LT1, they're going for $45-$60k & up. A small block @ $20 will only get you a decent driver and to make it an investment - another $20 provided it's matching numbers. You need to take your time and look at a lot of cars. If you find a good C3, spend the $250 to have a NCRS guy checkout the car. Currently for sale: 70 Vert, 350/350 , 4 speed. P/S, P/B, Matching#, Body on restoration, new interior, show paint $29k Good buy - 72 Coupe, LS5(454), matching, every option including a/c - $32.5 Good buy - 72 Coupe - 350 base, frame off resto, a/c, NCRS Top Flight - $34.5 |
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Posted on: 2012/10/18 2:37
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Every man dies but not every man lives. |
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| BillH | Re: Investment advice? | ||
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The Stig Moderator
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BTW, in my driveway today:
Attach file:  2006-04-05 01-50-16_0003.JPG (0.00 KB) 2006-04-05 01-49-48_0001.JPG (0.00 KB) |
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Posted on: 2012/10/18 2:46
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Every man dies but not every man lives. |
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| corvetteronw | Re: Investment advice? | ||
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Senior Guru
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Thanks for the info! Look at this - seems to be well priced, especially from Roger's!
http://www.rogerscorvette.com/carNew. ... &ImageDir=inv/96gsc_00490 |
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Posted on: 2012/10/18 2:58
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| bogus | Re: Investment advice? | ||
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Grand Imperial Pooh-Bah
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that isn't a bad deal...
just realize, you will have to stay on top of all things rubber, drive it enough to keep it limber, but not overdrive it as to add miles. |
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Posted on: 2012/10/18 3:07
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The single biggest problem with communication is the illusion that it has taken place. - George Bernard Shaw Education is the best tool to overcome irrational fear. - me |
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| TommyT-Bone | Re: Investment advice? | ||
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Chair-man of the bored
 
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Tell the truth Ron. You've always has a soft spot for a GS. You know the handling characteristics of the earlier gens as well as the potential structural deficientcies. You probably would like a red gut convertible GS but come up a little short on purchasing power. Fortunately you have enough Corvette knowledge to keep yourself out of serious investment trouble. And I use the word investment loosely. I like the GS. I wouldn't go as far as to say it won't depreciate further. Go with your gut and your heart and I don't think you'll stray too far from the path. |
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Posted on: 2012/10/18 3:32
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| teebee | Re: Investment advice? | ||
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2014 Memorial Day Car Show Winner!
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That's a good looking GS Ron. Like Tommy said, you've always liked the GS.
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Posted on: 2012/10/18 12:15
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2007 Atomic Orange 3LT coupe. Borla Exhaust One of Americas' proud Deplorable
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| TommyT-Bone | Re: Investment advice? | ||
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Chair-man of the bored
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Yep! .... YAY! |
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Posted on: 2012/10/18 13:36
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| flyboy | Re: Investment advice? | ||
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Elite Guru
 
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'90 ZR-1
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Posted on: 2012/10/18 18:14
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'91coupe, LT4Hotcam, some other stuff. If it's too loud, you're too old. "He works on old cars, then junks 'em" |
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| corvetteronw | Re: Investment advice? | ||
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Senior Guru
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Hey Tommy - If my wild, new lifestyle hasn't killed me by Jan '13 maybe you can go drive that GS for me at Rogers?
You are also correct - I have always lusted after one of those machines. |
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Posted on: 2012/10/18 18:14
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A VETERAN IS SOMEONE WHO AT ONE POINT WROTE A BLANK CHECK MADE PAYABLE TO THE UNITED STATES OF AMERICA FOR AN AMOUNT OF UP TO AND INCLUDING THEIR LIFE. |
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| bogus | Re: Investment advice? | ||
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Grand Imperial Pooh-Bah
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From your requirements, and my best guess, the GS isn't a bad way to go.
You can own a dream for 15 years, and more than likely sell it for no less than what you paid. Especially if you keep it OEM and once NCRS starts judging, do that, too. I figure you can add maybe a 1k miles a year to it safely without killing the value, and when you do sell, it is a 30 year old car with 40k miles and no one else will be near that. They only made 1000... how many have died? How many have been raced and modified? I am figuring that there are only a handful - less than 50 - that are absolute under 100 mile show cars. The rest are outside that realm. You get one that is outside now, you can make it inside then... Keep it in a garage, keep it clean and shiny, keep everything working, show it at the local show-n-shines, take it Corvette shows, and yes, even the occasional Concours. Get awards, trophies, you name it. Bloomington gold helps, too. Give that car a resume... and you give yourself a hobby. Oh, consider a trailer for longer trips. |
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Posted on: 2012/10/18 18:55
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The single biggest problem with communication is the illusion that it has taken place. - George Bernard Shaw Education is the best tool to overcome irrational fear. - me |
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| TommyT-Bone | Re: Investment advice? | ||
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Chair-man of the bored
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Quote:
That's a 4 plus hour drive for me Ron and that's one way. I might suggest you get an outside inspection from one of the detailed list car inspection services. You know the ones. The guys that go over the whole car and give you the overall condition on a multipoint checklist. That's what I did with my 87 911 I bought from St Louis. If I look at the GS it would be more of a looks good, drives nice inspection and that won't work for a 20k plus vehicle. I wouldn't want you to base your purchase on my perception. Now if you want me to look at a 8 to 10k driver in SoFlo. Let me know. That's alot less pressure. |
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Posted on: 2012/10/18 21:31
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| corvetteronw | Re: Investment advice? | ||
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Senior Guru
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I have no idea where he is located. Maintland? I will look it up on a map.
My daughter moved back to Michigan and is teaching here. The school system in Naples absolutely sucked (at least for the working class folks). |
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Posted on: 2012/10/19 0:27
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A VETERAN IS SOMEONE WHO AT ONE POINT WROTE A BLANK CHECK MADE PAYABLE TO THE UNITED STATES OF AMERICA FOR AN AMOUNT OF UP TO AND INCLUDING THEIR LIFE. |
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| TommyT-Bone | Re: Investment advice? | ||
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Chair-man of the bored
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Posted on: 2012/10/19 3:22
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| TommyT-Bone | Re: Investment advice? | ||
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Chair-man of the bored
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Posted on: 2012/10/19 3:28
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| TommyT-Bone | Re: Investment advice? | ||
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Chair-man of the bored
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Posted on: 2012/10/19 4:02
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| bogus | Re: Investment advice? | ||
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Grand Imperial Pooh-Bah
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I have been to Roger's. Nice place. Not far off I-4 in north east Orlando area.
The ppl seem nice enough. |
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Posted on: 2012/10/19 14:04
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The single biggest problem with communication is the illusion that it has taken place. - George Bernard Shaw Education is the best tool to overcome irrational fear. - me |
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| TommyT-Bone | Re: Investment advice? | ||
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Chair-man of the bored
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I believe they have a good rep. The prices are on the high side but they usually stock only premium examples. By high I mean high for me. |
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Posted on: 2012/10/19 15:51
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| bogus | Re: Investment advice? | ||
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Grand Imperial Pooh-Bah
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I have never heard of a disappointed Rogers customer.
If they sell a bad car, they will stand behind it... |
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Posted on: 2012/10/19 17:55
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The single biggest problem with communication is the illusion that it has taken place. - George Bernard Shaw Education is the best tool to overcome irrational fear. - me |
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| teebee | Re: Investment advice? | ||
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2014 Memorial Day Car Show Winner!
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I know you're more interested in a GS, but here's a nice car
http://kansascity.craigslist.org/cto/3292977067.html |
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Posted on: 2012/10/19 19:36
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2007 Atomic Orange 3LT coupe. Borla Exhaust One of Americas' proud Deplorable
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| flyboy | Re: Investment advice? | ||
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Elite Guru
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Here's one that fits tour criteria. YOLO.
http://cgi.ebay.com/ebaymotors/ws/eBa ... 0870146779#ht_55578wt_958 |
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Posted on: 2012/10/21 2:24
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| corvetteronw | Re: Investment advice? | ||
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Senior Guru
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Thanks for the tips but I cannot pull the trigger undil Jan 2013. I worked for 6 months in 2012 and if I pulled money out of my IRA now it would just add to my income and really increase my tax burden. My income will be way down in 2013 so my tax burden will be much lower.
Fortunately we followed Dave Ramsey's plan and we have no debt except the house and we just refinanced that again to a very low interest rate. For those of you who are not as old as some of us please do yourself a favor and pay down your debts. Sell stuff, get an extra job, live within your means. Fortunately I am married to someone whe kicked my ass the last few years and got me to see the light. |
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Posted on: 2012/10/22 3:06
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A VETERAN IS SOMEONE WHO AT ONE POINT WROTE A BLANK CHECK MADE PAYABLE TO THE UNITED STATES OF AMERICA FOR AN AMOUNT OF UP TO AND INCLUDING THEIR LIFE. |
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| Ultraman | Re: Investment advice? | ||
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2015 Memorial Day Car Show Winner!
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Good advice....and it takes some sacrifice early but pays off later in life......
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Posted on: 2012/10/22 13:16
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2010 Grand Sport Coupe Gone but not forgotten... Vote DeSantis in 2024.... Make the IRS go away... |
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| TommyT-Bone | Re: Investment advice? | ||
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Chair-man of the bored
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Ron, I followed the pay down advice and retired. Last year I jumped back into the debt fire but just with a house. I can always sell and be back where I was. (But I don't want to.) |
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Posted on: 2012/10/22 19:02
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| bogus | Re: Investment advice? | ||
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Grand Imperial Pooh-Bah
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Quote:
Do you know what got me to do what you are suggesting? Those damned shows on A&E about hoarders. Their excuses and logic for keeping shit hit way too close to home... so I started to unload things. When we moved in Oct 2010, it took one 24' truck and three loads in a 10' truck. the last time we move, Aug 2011, it took 2 loads from a 24' truck, but this time, we were moving bastet44's office, too! I think that from Oct 2010 to Aug 2011 that I got rid of the equivelant of one 10' box truck worth of crap. And that was only the beginning. |
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Posted on: 2012/10/23 14:49
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The single biggest problem with communication is the illusion that it has taken place. - George Bernard Shaw Education is the best tool to overcome irrational fear. - me |
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| TommyT-Bone | Re: Investment advice? | ||
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Chair-man of the bored
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Quote:
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Posted on: 2012/10/23 16:49
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| bogus | Re: Investment advice? | ||
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Grand Imperial Pooh-Bah
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what are you so confused about, Tommy?
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Posted on: 2012/11/6 19:21
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The single biggest problem with communication is the illusion that it has taken place. - George Bernard Shaw Education is the best tool to overcome irrational fear. - me |
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