Another nice thing about the Daughter's move!!

It really surprises what interest rates are doing. They were able to get a 2.25% 15 year fixed rate on the house/farm they bought. That is not government sponsored or anything either. It is through a local bank. It will not be resold either.

I can remember the 20% interest of the 1980s and how it felt like free money when it dropped to 10%. LOL

JD Seller,


I placed some hard earned money into a certificate of deposit back in the high interest days. That was an easy way to get 600 bucks in a year!

Those interest rates made me some money, then, but I've long since paid for it, many times over.

D.

Dennis My one Uncle was always a saver. HE had a lot of money in CDs in the mid 1980s. In 1984 he made enough INTEREST to buy a new car, 1/2 2wd pickup and build a two car garage, all in one year.

I back figured it at the time and he had around $300K in the bank which is not that out of line for a retirement nest egg.

The trouble is now with low interest rates you just about can't afford to retire if your only income is SS and interest income.

I was a loan officer for Production Credit Assn. in those days- I remember how frustrating it was when you had to turn a guy down because his operation wouldn't pencil out, and he'd say "Well, it would if you coyotes would charge me a half-way decent interest rate."

We had also got into financing fishing boats, and the combination of high interest rates and us not knowing what we were doing ended up putting us out of business in 1984.

Remember those days well also. PCA sent me a certified letter on Dec. 15 calling in my note. Had 15 days to pay it or they would force a auction. Qwed them about $50000. Couldn't borrow money before the deadline and wouldn't extend the deadline. Sold the milk cows to pay the note. Never borrowed operating money after that, so I guess it was a good thing. PCA rode with some of my neighbors all the way for the fall. Had to have lost hundreds of thousands of dollars thru bankruptcies. They rode with the BTOs but sold the little guys out.

I know you are rite ,,, before my divorce 20 yrs ago ,,,.. I had salted down enuf bux in cds to collect 600 bux per month ,all from working my az of driving nails anraising hogs , my dear wife wanted that money to come to the mailbox each month , and she went into nursing school ,, that reallymessed with that pretty ones head bad ,, and I could not keep her with in her senses ,,.. it is like she snapped , and everything I did for her was wrong ...,we sold all the hogs ,and took 4 kids and wife to grand canyon in 93 ,then Yellowstone in 94,we all had a GREAT TIME ,and yet by thanxgivin 1996 she was married to someone else , and ggot 115 ,000 from me to boot ,,. dam I feel used , but the reality is I am luky ,,,. she and kids coulda got everything and set me out on the road in the state of ind .. but she did not have just cause and she knew it .. banx are a thing of the past , imho ,, why would anyone use them if cash talks loud and banks don't pay interest and only serve as a record of transaction for the ggoverment tax force ...

in 79 got PCA loan to build a new house. Interest was a little over 8%. Finished the house in the spring of 80. The interest rate was over 12% by then. In fall of summer 81 was laid off from job in town, Big dairyman across road fall on hard times and had to sell some land. Banker come to me and wanted me to buy the 120 acres beside me the neighbor owned. Wanted it real bad, but was already living on ham and beans to pay bills.

what is it about nursing school that does that to a woman, not to me but a dil basically did same as soon as she graduated and went to work. Both are remarried and going with their lives.

The government is really doing everything they can to keep us in debt and spending all our money instead of saving, aren't they.

I had money in 10 year cds back then (IRAs) at 12%. That is one of the reasons I'm retired today.

I remember the 15-20% interest too well, but in a good way.
Bought a new to me truck in the late 80's and was paying those insane rates to the bank.
Being young at the time and not knowing any different if you wanted money from the bank that was the price you had to pay.
8 months after getting the truck I found a boat I had to have but again as I did not have enough cash I went to get another loan.
I needed a couple of thousand for the boat.
Luckily I had a decent loans officer who was willing to combine and re-write the loans.
As interest rates had dropped big time since I bought the truck, with the re-write I got the money for the boat, it lowered my monthly payment and shortened the payback period by 3 months.
Now I know nothing is free but had I not gone back to the bank they would have kept on taking my money at the high interest rate until the truck was paid for and I would still be wanting a fishing boat.

Believe it or not, I once borrowed money from the PCA to build a stock car.

The loan officer rationalized it by saying it was a form of "production".

I remember trying to get to the bank before 2:00 with checks on Fridays (mail gets delivered 12:00-1:00 those days), so I would get the extra intrest for the weekend, a grain check the 3 extra data of intrest might buy a burger.....

Just handed in my 1099s this week, the entire year of intrest on my checkbook was $1.13 for the year. And I have much bigger checks to cash these days....

Paul

Yea, I remember getting 8% on a Money Market account. Now I get 1/2 percent I'm lucky.

Gov't has to keep interest rates low because they owe 19+Trillion$ at 10 percent it would take all the Gov't takes in just to pay the interest.Meanwhile savers are getting screwed big time.

Yeah, we had a very good dairy farmer whose son wanted to go into the construction business- needed a backhoe and a dump truck. Boss said "We'll loan the money unsecured, so we won't have to describe the collateral for a security agreement. Just write it up for a truck and tractor." Which I did.

Ironic part of it is, the kid came back to the farm after a few years in the construction business, and has been running the dairy now for about 30 years.

I had my house financed at FHA (farmers home adm) in early 70's. About 80 or 81 FHA said I was making enough to get private financing. I went to two banks and they flat turned me down. Went to Savings and Loan and they were happy to do it. Penciled it out , 3 year and balloon payment at end, about 20% interest. Had to have house appraised, borrow money for that. Would owe more on house after those 3 years than I did at the time. Told him, no way. He laughed and said, what are you going to do about it. I said, not making you any money. They can have the dam house. FHA relinquished and gave me three more years. I refinanced at same savings and loan, different manager, for about 8 or 10 % . Now, in the meantime, FHA had a new manager also. After he sent me the notification after those 3 years that I needed to seek refinancing, he sent me a nasty letter telling me he was going to forclose on me. I went in and gave him his money. This was within about a month or so of getting the letter from him to seek refinancing. He never said in his notice I had to report back to him how it was going. I wrongly assumed he would realize it would take a few weeks to pull all this off. Now he is the president of the bank I use. I still have the letter also. He don't know me from Adam but there are a lot of those working in the bank I know quite well. Haven't needed to deal with him.

Wisht I Knew , Kent ,,, funny thing is ,,.I recall the orientation nursing class meeting ,, they wanted as much family there as possible,, some mouthy gal said that a third of those that are married now , will not stay married thru the class ,.. I recall my wife turning to me at that point ,, and said ,, that will never happen to us ,, And I For ONe Really believed that .. .. for my wife who imarried when she was 17 , nursing school took her from a life of constant responsibility and servitude to ahusband , 4 children and a farm and all of the headaches ,, and introduced her to a life of selfish empowerment where , she could have her own career independence , mobility and most of all the ability to dream and explore her OWN freedom .. it is a very abundant attitude ,, that takes a selfish thankless person to take their life down the path of divorce ,,. one that puts aprice on everything and a value on nuthin

(quoted from post at 00:27:19 02/23/15) ..... for my wife who imarried when she was 17 , nursing school took her from a life of constant responsibility and[b:a4713910f9] servitude [/b:a4713910f9]to ahusband , 4 children and a farm and all of the headaches ,, and introduced her to [b:a4713910f9]a life of selfish empowerment where , she could have her own career independence , mobility and most of all the ability to dream and explore her OWN freedom [/b:a4713910f9].. it is a very abundant attitude ,, that takes a [b:a4713910f9]selfish thankless person [/b:a4713910f9]to take their life down the path of divorce ,,. one that puts aprice on everything and a value on nuthin

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Whoa, what century are you living in? :shock: Today's women have choices and we raised our own daughters to find their own way and be independent. I don't think that is a negative thing as you seem to think. (Of our 3, 2 are attorneys making well into 6 figures and 1 is in grad school, all very happy with their lives).

I married my wife when she was in nursing school over 40 yrs ago. Our marriage has been a joint venture where neither of us feels like the other isn't pulling their weight. Been a great life. I can't/won't speak to the specifics of your divorce, but I don't think you can blame it ALL on nursing school. It happens to lots of people in law school, med school, grad school, college, etc. Those can all be life-changing with lots of stress and eye-opening experiences (both good and bad).