Good & Bad Luck all in 1 day
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|Thu, 09-12-2013 - 7:19am|
Let's start with the bad luck 1st. Monday driving home from my real estate office, I take a main road where the speed limit is 40 mph as opposed to 30 mph everywhere else. FYI on this road, most people drive 50 or 50+. Well, stupid me forgot Monday was the 1st day of school & driving past the school, I suddenly see blue & red flashing lights behind me. Oh geez, I have a brand new car, I'm unemployed, my husband is going to say something I don't want to hear, I'm in t-r-o-u-b-l-e. Apparently the cop recorded me at 41 in a 20 mph school zone. So now I have to go to court. There goes my insurance, possible points on my license, etc. I know I'm married to a teacher & Monday, David left at 7:00 to go to school. By the way, I used to work at that school as a teacher's aide yrs. ago when my son was in elementary school. (the one the idiot cop stopped me at).
Next, about my new set of wheels. On Labor Day, I traded in my 9 yr. old Toyota Camry for a 2012 Toyota Prius. It's brand new with 50 miles on it. I got it for $20,000. + the dealer gave me $3,000. for my Camry. The Camry had 73,000. miles + it needed body work & there were stains on the seats. I negotiated hard - drove the manager crazy trying to lower the price. Anyway, here's how the financing worked. I had a 401K from my previous job (Staples) with $26,000. After I got laid off, I did a rollover IRA. I can't touch the money until Jan. 2014 when I turn 59 1/2. Since I worked in retail for years, I know the only time you buy expensive stuff is when it's on clearance or being cleared out. So car manufacturers put all their 2013 cars on clearance in Aug. & Sept. to make way for 2014 cars. So on Labor Day, I decided to take advantage of a great deal. I wanted the 2013 Prius, but they said my price was too low & no deal. So I had to take a bare bones 2012 Prius. Couldn't afford any of the bells and whistles. Anyway, my credit is excellent, so I put down what I expected to collect in real estate commissions my 1st yr. I am withdrawing the $26,000. IRA in Jan. 2014 to pay off the car loan. Yes, it's currently being financed & my dear hubby is paying the monthly payments for Oct. Nov. & Dec. which is why I don't want to tell him about my speeding ticket. I'll tell him in Feb. after my car loan is paid off. One month before my car insurance gets renewed. I can imagine all of you must be laughing at this point. Note - when I close out the IRA, it's $26,000. - taxes = approx. $20,000. I don't know exactly the tax dollar amount, but I'm being conservative. I didn't want to pay more for a car than what I will collect from the $26,000. IRA.
Now can we get to some good news? I actually had 2 couples that contacted me to look at homes. I was so excited! I just got licensed in June and expected nobody to contact me until Christmas. So for somebody to contact me now is unbelievable. I showed them homes & I now have clients - yeah!! Whether it will work out or now who knows, I'm just excited to have somebody contact me. And this happened the SAME DAY that stupid cop gave me a speeding ticket. I still have a lot to learn in real estate, but having no children living at home helps a lot. I'm able to spend a lot more time studying, learning, etc. without the added distraction of "Mommy, I need you", "can you drive to so and so's house or my afterschool activity" or remember the whining days of toddlers? So it helps a lot not having kids at home. By the way, most of the other agents in the office are much younger than us with kids. So having real estate as a retirement career gives me a huge advantage. The disadvantage I have that the younger agents have is they are able to connect with other school parents. Unfortunately those parents I can't use as possible clients. So I'm mostly going after businesses.