Slow Saturday

by James & Miel on November 24, 2007 · 0 comments

Hello All,

Today is Saturday, November 24th. Its been a slow week for our personal finance, but I wanted to share some news and thoughts on our current situation.

The big news is we’ve been chipping away at paying off our second mortgage, I sent in sixty dollars on Wednesday and Miel sent $600 on Monday, so the balance should be a lot closer to $19,000 than $20,000. This feels great because, the interest rate on that mortgage is adjustable and is currently running at just under 9%. Since Washington Mutual is under pressure to increase profits, the chances are good they’ll raise rates.

In other developments, a good childhood friend of mine is looking at buying a small software company in Oregon. The company is in decline and unprofitable, largely because of competition from India. My friend, who is an exceptional programmer and promoter would need to take over the company and change its business model. For a firm the size of 20 people, that’s a big job. I’m holding off on the specific details because my friend is still putting together an offer, so its not appropriate to say more.

Finally, Miel’s paycheck situation finally got worked out. This means my darling wife is earning more than $8,000 per month. Its a lot, but its a mixed blessing. On the one hand, the money will help us permanently improve our financial situation. On the other, we’ve worked out an arrangement whereby we’ll be supplanting my income from dividends with her salary income. I’m not entirely comfortable with this – largely because my motivation to achieve financially has been supplanted by my desire to get through grad school. I don’t need to be in a dependency situation where I’m less motivated to push the boundaries.

Thanks All!


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