Non-Profit

[GreatOwl]

anyone know how I can register as a non profit entity?   Since I am already retired there is not much more I can do to turn a profit in my lifetime. 

Don't get political on me, this is more rhetorical than anything.  These last eight years have certainly not been good ones on my investment accounts.  I do not even bother to read the prospectus reports any more since they can all be labeled fairy tale material. 

maybe if I take donations through paypal I can afford to pay for gas. 

don't mind me...... I am just tired.......       

[klaasend]

anyone know how I can register as a non profit entity?   Since I am already retired there is not much more I can do to turn a profit in my lifetime. 

Don't get political on me, this is more rhetorical than anything.  These last eight years have certainly not been good ones on my investment accounts.  I do not even bother to read the prospectus reports any more since they can all be labeled fairy tale material. 

maybe if I take donations through paypal I can afford to pay for gas. 

don't mind me...... I am just tired.......       

Great Owl - maybe if you become a minister you can operate as a non-profit.  I know the feeling.  I really hope the next administration can turn things around for us.

[2NJSons_Mom]

Knew someone years ago that did that...registered as a minister....he's gone now...heart attack in his easy chair....guess I could say we need relief, too....my retirement fund is gone, also.

[WhiskeyGirl]

It costs money to become a tax-exempt non-profit type thing.

I think the sell those minister papers over the internet. 

I think the corporate cry of "increase stock price" and "increase shareholder value" was a code word for something...

We are in the age of opposites.

[GreatOwl]

Well, at least gas has dropped for a while.  Not as far as I would wish, but then again I only drive about 5,000 miles a year as it is.  I tend to fly several times a year and those prices are getting very high.  We can't wait for the last minute specials because there are rarely any from our location in the country.  About the only two airlines we can use are United and Northwest. 

We will survive everything I am quite sure.  I do go back to the schools to work once in a while and that helps pay for a few extras.  Obviously, the 401k's have taken a beating, but I am not drawing on that yet.  I hope not to have to do that for several years except for what the government requires me to take out each year.

I am seeing many seniors who are quite worried.  There just are no easy answers right now.  These past eight years have been brutal on many of us who depend upon keeping our investments safe.  About the only thing that is safe is a fixed account.

[MumInOhio]

Well, at least gas has dropped for a while.  Not as far as I would wish, but then again I only drive about 5,000 miles a year as it is.  I tend to fly several times a year and those prices are getting very high.  We can't wait for the last minute specials because there are rarely any from our location in the country.  About the only two airlines we can use are United and Northwest. 

We will survive everything I am quite sure.  I do go back to the schools to work once in a while and that helps pay for a few extras.  Obviously, the 401k's have taken a beating, but I am not drawing on that yet.  I hope not to have to do that for several years except for what the government requires me to take out each year.

I am seeing many seniors who are quite worried.  There just are no easy answers right now.  These past eight years have been brutal on many of us who depend upon keeping our investments safe.  About the only thing that is safe is a fixed account.

Hi GO...It is a little relief for us with the gas prices, as DH drives along way to work and back, and my DD went through a spell of coming home every weekend and running all over to visit with friends while she was home.

We are just keeping an eye on the Markets right now, and not sure what to do about our retirement contributions. Some at DH's work have stopped contributing. We took a bit hit, but just trying not to do anything rash. If we stop putting in and things improve we will be sorry, but we may be better off using it to help pay off our house and some other things. DH's overtime has stopped so it would certainly help...Limbo...right now!

[sharon]

My parents are 86 & 87 -- and like many in that generation, they are 'house rich' and 'cash poor'.

For the past 5 years, my dad and I have been trying (unsuccesfully) to convince my mom that they should look into the reverse mortgage product (backed by HUD) that was designed specifically for seniors. No need for them to leave all that equity in the house behind. They deserve to use it in their life.

For some reason -- the 'bee' recently landed in her bonnet, and I have spent most of the past 3 - 4 weeks doing research and speaking with knowlegeable experts and taking them to some lenders that have been approved for this type of product.

Due to the current drop in housing market in South Florida, and the results of the current financial industry fiasco -- the costs for this type of instrument is no longer viable and the proceeds are minimal. Just not worth it at this time, unless something life changing happens and they have no alternative.  We help however I can.

The only other similar product -- put out by Fannie Mae was discontinued within the past 30 days due to the situation with Fannie and Freddie.

It is a travesty and an outrage that we don't do better for our 'seniors'.

(and at this point, I feel like I could sell reverse morgages  I learned wayyyy more than I wanted to know  )

[GreatOwl]

Well, at least gas has dropped for a while.  Not as far as I would wish, but then again I only drive about 5,000 miles a year as it is.  I tend to fly several times a year and those prices are getting very high.  We can't wait for the last minute specials because there are rarely any from our location in the country.  About the only two airlines we can use are United and Northwest. 

We will survive everything I am quite sure.  I do go back to the schools to work once in a while and that helps pay for a few extras.  Obviously, the 401k's have taken a beating, but I am not drawing on that yet.  I hope not to have to do that for several years except for what the government requires me to take out each year.

I am seeing many seniors who are quite worried.  There just are no easy answers right now.  These past eight years have been brutal on many of us who depend upon keeping our investments safe.  About the only thing that is safe is a fixed account.

Hi GO...It is a little relief for us with the gas prices, as DH drives along way to work and back, and my DD went through a spell of coming home every weekend and running all over to visit with friends while she was home.

We are just keeping an eye on the Markets right now, and not sure what to do about our retirement contributions. Some at DH's work have stopped contributing. We took a bit hit, but just trying not to do anything rash. If we stop putting in and things improve we will be sorry, but we may be better off using it to help pay off our house and some other things. DH's overtime has stopped so it would certainly help...Limbo...right now!

Not paying in right now is not necessarily a bad thing.  Drawing anything out is the worst thing you can do.  The best thing you can do at the present time is to pay off any credit cards as the interest on them is much higher than any interest you could gain by even putting the money into a fixed account.  The trick is not to take that extra money once the credit cards are paid down to buy a "want" item.  I do a lot of volunteer work as a court appointed guardian and a financial mentor.  I try to emphasize to everyone that this is a good time to divide items into "wants" and "needs." 

I do vacation a great deal is sort is a "want," but I do not have that many more years that I will be able to travel to some of these places.  Even I need to keep things reasonable.  I am down about 60 percent in my investment accounts and all I can do is to wait it out.

I feel for those people who just have social security.  They get a whopping $ 60.00 increase this coming year and I know that even if Medicare A & B premiums are held constant, it is the supplemental and Part D that will be showing a hugh increase.  I had to shop my Part D last year as my premiums were scheduled to go up by 60%.   Part D is a major cost item and there are so many people that have no idea how to weed their way through the hundreds of options and combinations available to them.  They end up keeping what they had the previous year and get hit with a staggering increase.

[GreatOwl]

My parents are 86 & 87 -- and like many in that generation, they are 'house rich' and 'cash poor'.

For the past 5 years, my dad and I have been trying (unsuccesfully) to convince my mom that they should look into the reverse mortgage product (backed by HUD) that was designed specifically for seniors. No need for them to leave all that equity in the house behind. They deserve to use it in their life.

For some reason -- the 'bee' recently landed in her bonnet, and I have spent most of the past 3 - 4 weeks doing research and speaking with knowlegeable experts and taking them to some lenders that have been approved for this type of product.

Due to the current drop in housing market in South Florida, and the results of the current financial industry fiasco -- the costs for this type of instrument is no longer viable and the proceeds are minimal. Just not worth it at this time, unless something life changing happens and they have no alternative.  We help however I can.

The only other similar product -- put out by Fannie Mae was discontinued within the past 30 days due to the situation with Fannie and Freddie.

It is a travesty and an outrage that we don't do better for our 'seniors'.

(and at this point, I feel like I could sell reverse morgages  I learned wayyyy more than I wanted to know  )

I am sure you have become well informed as to "reverse mortgages."  It is not something I would recommend, because of the fluctuations in our economy these past few years and probably the instability in the next 5 years.  I agree that there is no reason for your parents to be thinking about "leaving money" for inheritance.  This is how they grew up and it is a mind set.  I know the housing market is down and selling is a difficult thing.  It will be necessary sooner or later. 

 I also know that your parents would not even tend to listen to you if you suggested selling.  This is one of the problems facing us as a "sandwich generation."  I will tell you that a few years ago we did talk my father - in - law into selling.  He resisted with all his might.  However, the senior complex that he moved to is just beautiful and as with many his age, he found many of his friends were around and he even made new friends quickly.  The money from the house was placed in a mixture of financial products.  Some fixed and some were not.  Timing of maturity dates were staggered.  He nows tells us that he made a great decision in deciding to sell the house and move into his beautiful apartment. 

We fought for almost a year for this to happen and all family members worked hard in accomplishing this.  It doesn't bother us that he now takes ownership of the decision.   I suppose there will come a time when even I will need to be "advised" by my children.  It is not easy becoming more mature year by year.  Our minds do not age anywhere near as quickly as our bodies.