Yesterday morning we woke up to the first snow of the season. The ground was covered with about two inches and it had stuck to the roads so the highway crews were out salting and sanding. It's awfully early in the season and I hope we don't have one of those years where snow is on the ground from November through April. Makes for a l-o-n-g winter.
Since they put salt on the road, I had to put my car away for the season. Luckily, I had the oil changed the day before yesterday, and I topped off the gas tank as well. All I had left to do was clean the interior and put the cover on it.
I would like to say that Lori and I are settling in for the winter. Usually at this time of year we start to prepare for Thanksgiving and Christmas. But now we're doing nothing but working on the other house in our spare time. I'm not complaining - I know it will be worth the effort. I'm just looking forward to having some time to relax again.
Sunday, November 14, 2004
Friday, October 29, 2004
We bought a house
We bought a house today in Portsmouth, about three miles from our house. It's fairly run-down, but we plan on fixing it up and renting it out.
It's exciting getting started on a new project. It needs a new roof, new siding, new windows, a new bathroom, a new furnace and water heater, a new garage door and new paint throughout. But it's a cute house and has good bones. We'll hire out the exterior work and do the inside ourselves. We're hoping to start showing in about 6 weeks. If you know of anyone looking for a nice house to rent in southern New Hampshire, please give them our number.
I'll post some pictures in the next couple of days.
It's exciting getting started on a new project. It needs a new roof, new siding, new windows, a new bathroom, a new furnace and water heater, a new garage door and new paint throughout. But it's a cute house and has good bones. We'll hire out the exterior work and do the inside ourselves. We're hoping to start showing in about 6 weeks. If you know of anyone looking for a nice house to rent in southern New Hampshire, please give them our number.
I'll post some pictures in the next couple of days.
Saturday, October 02, 2004
Trying a new investment strategy
Lori and I both have moderate 401K savings accounts which have grown and shrunk and started to grow again in the past couple of years. These accounts will certainly not be enough to sustain us after we retire and we've begun investing in more real estate rather than in the stock market. This, of course, is a risky proposition. I think of friends who bought houses in the mid-to-late '80's who are just now getting out from under their negative equity. If the market goes bust, or even flattens out, our real estate holdings could well put us under.
On the advice of our accountant, I opened a Roth IRA a couple of years ago. It's a retirement investment account, but it's funded completely by me with after-tax dollars. But the money that the account earns is completely tax-free FOREVER. (401K earnings are taxable once you start to withdraw funds.) Not having to worry about how much I'll owe in taxes is a great liberator and I think I figured out a way to capitalize on that principal. (If you'll pardon the double pun.)
I am going to start by selling most of the stocks that are currently in the Roth IRA. Then I'm going to use that money to buy stocks on which options trade. The stocks will also have to pay a dividend and have to be fairly stable.
As soon as I own the stock, I will sell short-term call options with strike price higher than the price I paid for the stock. This will immediately give me back part of the money I spent to buy the stock, but I will still own the stock itself. If the options are exercised and I have to sell the stock, I will have locked in a profit - the increase in the price of the share and the premium I was paid when I sold the option. If the options aren't exercised, I will hold the stock and sell new calls when the original ones expire. If the stock pays a dividend during the time I hold it, that money will also be part of the return.
This may sound complicated, but it is relatively straight-forward and I didn't invent the strategy. But what makes it so appealing to me is that I won't ever have to pay taxes on, what I hope will be, a healthy cash flow.
I plan to post messages here when I start next week. I won't say what stocks I'm trading, just my starting dollar amount, the cost of each stock, the and how much money each one makes or loses for me. If it turns out well and you're interested in the specifics, let me know and I can help you implement a similar strategy. (That offer is for friends and family. Anyone else I would be glad to advise as a consultant.)
On the advice of our accountant, I opened a Roth IRA a couple of years ago. It's a retirement investment account, but it's funded completely by me with after-tax dollars. But the money that the account earns is completely tax-free FOREVER. (401K earnings are taxable once you start to withdraw funds.) Not having to worry about how much I'll owe in taxes is a great liberator and I think I figured out a way to capitalize on that principal. (If you'll pardon the double pun.)
I am going to start by selling most of the stocks that are currently in the Roth IRA. Then I'm going to use that money to buy stocks on which options trade. The stocks will also have to pay a dividend and have to be fairly stable.
As soon as I own the stock, I will sell short-term call options with strike price higher than the price I paid for the stock. This will immediately give me back part of the money I spent to buy the stock, but I will still own the stock itself. If the options are exercised and I have to sell the stock, I will have locked in a profit - the increase in the price of the share and the premium I was paid when I sold the option. If the options aren't exercised, I will hold the stock and sell new calls when the original ones expire. If the stock pays a dividend during the time I hold it, that money will also be part of the return.
This may sound complicated, but it is relatively straight-forward and I didn't invent the strategy. But what makes it so appealing to me is that I won't ever have to pay taxes on, what I hope will be, a healthy cash flow.
I plan to post messages here when I start next week. I won't say what stocks I'm trading, just my starting dollar amount, the cost of each stock, the and how much money each one makes or loses for me. If it turns out well and you're interested in the specifics, let me know and I can help you implement a similar strategy. (That offer is for friends and family. Anyone else I would be glad to advise as a consultant.)
Thursday, September 23, 2004
The guitar is nice, but...
When I got home from work yesterday there was a large box standing outside the door to our kitchen. I was a little unnerved that UPS just set the damn thing on the doorstep and left it there. I would think they'd need a signature.
I was glad to see it, though. As soon as I got it in the house, I opened the box, emptied the popcorn, opened the bubble-wrap and laid the guitar case out on the floor next to my amp. Without opening it, I turned the amp on to let it warm up. Then I went down to the kitchen and got a cold beverage. I cleaned up the loose popcorn from the floor and went back upstairs. I had savored the anticipation for as long as I could and it was time to open the case.
The ES-137 is very nice looking. Its top is 'tri-colored sunburst' maple which means the edges are dark, dark red - almost brown and the color fades to a yellowish gold in the center. Very pretty.
When I picked it up out of the case, I was immediately impressed with its weight. According to my bathroon scale, it weighs about 10 lbs. Very heavy compared to my Fender Stratocaster which weighs about 7 lbs.
The body, neck and fingerboard are larger than those on the Strat and it's taking some getting used-to. It does feel natural to me, though.
It plays very differently than the Start. I put a set of .010 gauge strings on. They are heavier than are on the Strat, but I think this guitar needs heavier strings. It plays very nicely, but not as effortlessly as the maple-necked Strat. (This one has an ebony fingerboard.) The word I would use to describe the action is 'substantial'. It isn't by any means hard to play, but it requires more grip than I'm used-to.
The tone is interesting. It has a LOT of bite. Hotter, brighter and more aggressive than I prefer, since I'm concentrating on jazz and sight-reading. I'm thinking of replacing the pickups, but I'm going to play it for a while before I make any changes. The sustain is incredible. A note plyed on the B-string will hold for 8 to 10 seconds without using any vibrato or distortion. The wound strings sustain longer. Very solid.
All-in-all, I would not have bought this guitar if I came across it in a music store. I got a good deal on it, and I DO enjoy playing it, but I was crazy to place a bid on an instrument sight-unseen (and unplayed.) I won't do it again.
I was glad to see it, though. As soon as I got it in the house, I opened the box, emptied the popcorn, opened the bubble-wrap and laid the guitar case out on the floor next to my amp. Without opening it, I turned the amp on to let it warm up. Then I went down to the kitchen and got a cold beverage. I cleaned up the loose popcorn from the floor and went back upstairs. I had savored the anticipation for as long as I could and it was time to open the case.
The ES-137 is very nice looking. Its top is 'tri-colored sunburst' maple which means the edges are dark, dark red - almost brown and the color fades to a yellowish gold in the center. Very pretty.
When I picked it up out of the case, I was immediately impressed with its weight. According to my bathroon scale, it weighs about 10 lbs. Very heavy compared to my Fender Stratocaster which weighs about 7 lbs.
The body, neck and fingerboard are larger than those on the Strat and it's taking some getting used-to. It does feel natural to me, though.
It plays very differently than the Start. I put a set of .010 gauge strings on. They are heavier than are on the Strat, but I think this guitar needs heavier strings. It plays very nicely, but not as effortlessly as the maple-necked Strat. (This one has an ebony fingerboard.) The word I would use to describe the action is 'substantial'. It isn't by any means hard to play, but it requires more grip than I'm used-to.
The tone is interesting. It has a LOT of bite. Hotter, brighter and more aggressive than I prefer, since I'm concentrating on jazz and sight-reading. I'm thinking of replacing the pickups, but I'm going to play it for a while before I make any changes. The sustain is incredible. A note plyed on the B-string will hold for 8 to 10 seconds without using any vibrato or distortion. The wound strings sustain longer. Very solid.
All-in-all, I would not have bought this guitar if I came across it in a music store. I got a good deal on it, and I DO enjoy playing it, but I was crazy to place a bid on an instrument sight-unseen (and unplayed.) I won't do it again.
Tuesday, September 21, 2004
My ES-137 Custom
I just bought this guitar ES-137 Custom
on eBay. I feel foolish having done so since I NEVER buy a guitar without playing it first. Every instrument is different and I have no way of knowing if I will like the way it plays or sounds. I bid on this one on a whim and didn't expect to win it. It will be here tomorrow. I'll let you know what I think
on eBay. I feel foolish having done so since I NEVER buy a guitar without playing it first. Every instrument is different and I have no way of knowing if I will like the way it plays or sounds. I bid on this one on a whim and didn't expect to win it. It will be here tomorrow. I'll let you know what I think
Monday, September 20, 2004
Joseph's Web Log has Begun
I'm starting this web log with the hope that family and friends will read my ramblings, and post their responses here. I plan on monitoring it actively and keeping it up-to-date. I invite you to post comments on any of my entries, or start a topic of your own.
I'm excited to see how this goes!
I'm excited to see how this goes!
Closing the pool
So yesterday was Sunday, September 19. It was cool, sunny and windy. Lori and I finally closed the pool after a long, enjoyable summer. It was kind of melencholy stowing the lounge chairs, deflating the rafts and putting the cover over the pool.
But I also cut, split and stacked the firewood we'll use this winter. It's on a pallette outside the family room door where my favorite pool chair was just the day before. Fall is definitley in the air and we're looking forward to our first fire. Perhaps you'll be here for it!
So yesterday was Sunday, September 19. It was cool, sunny and windy. Lori and I finally closed the pool after a long, enjoyable summer. It was kind of melencholy stowing the lounge chairs, deflating the rafts and putting the cover over the pool.
But I also cut, split and stacked the firewood we'll use this winter. It's on a pallette outside the family room door where my favorite pool chair was just the day before. Fall is definitley in the air and we're looking forward to our first fire. Perhaps you'll be here for it!
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