Did you know?

May 18, 2011 · 16 comments

I love learning random things. If I had to describe my intelligence I would use the phrase “an inch deep and a mile wide,” meaning I know a little bit, about a lot of stuff. I’m obviously not the smartest PF blogger out there, but as long as I know enough, hopefully I can trick you people in to coming back (and maybe even subscribing too).

I thought I’d mix things up a bit today and post up a handful of random “Did you know facts” that relate to personal finance (along with some that don’t). Most of you probably already know these things, but hopefully at least one of these facts will be new to you…

Did you know… That you can withdraw your contributions to your Roth IRA at any point, tax/penalty free. If you want to take out any gains, you can also do so tax/penalty free if the money is used for education or your first home (some limitations apply).

Did you know… As of 2010 it costs the U.S. Mint 1.79 cents to make a penny. Time to get rid of the penny?

Did you know… I have a fear of falling asleep in public.

Did you know… That if you take out a 401K loan and are fired or laid-off you HAVE to pay the loan back really quick (usually in less than 60 days), otherwise you will suffer some major tax and penalty issues. Think twice before borrowing that money for a new kitchen.

Did you know… The stock market has always given the best return on investment over a long time horizon.

Did you know… I’m still not convinced dinosaurs ever existed. Conspiracy theory?

Did you know… Every time you use your debit or credit card, the merchant has to pay a fee (usually 1% to 3%) to Visa, MasterCard, etc. If you donate on your credit card that means the charity is in effect getting 3% less than what you intended to give (this adds up over time).

Did you know… That the national personal savings rate hovers between 0 and 5 percent each year. That’s pathetic.

Did you know… If you make minimum payments on a $5,000 credit card bill (at 19% interest) it will take you over 30 years to pay the card off, and cost you more than $14,000 in interest.

Did you know… I use to have a pet iguana I named Ziggy after a character in my favorite show, Quantum Leap.

Did you know… If you make over $20,000/year you are in the top 12% of income earners in the world. Perspective?

Did you know… That on top of your down payment you need to be prepared to pay up to another 3% of the homes value on closing costs. If you put 20% down on a $300,000 and have to pay closing costs, you need $69,000 in the bank.

Did you know… That I played in a flag football tournament this weekend and our team-name was “The Frolicking Flamingos.” And in case you are wondering, we won!

Alright, that’s where I’ll end my “Did you know facts” but hopefully you will add a few more to the list. What are some of your favorite “financial facts”? Was there anything on the list you didn’t know about?

{ 16 comments }

1 Allison

Quantum Leap rocks.

2 Paul Williams

Second that. :)

3 Denise

…..I’m earnestly hooked on a blog written by someone who doesn’t really believe in DINOSAURS??? Seriously? What about evolution? Heliocentrism? & is this related to your intense religiosity?

4 Larry

Yeah, I got a little worried reading that too. We’ve got to get Ninja to visit the American Museum of Natural History. Even creationists usually don’t deny the existence of dinosaurs; they just believe the big guys co-existed with humans 4000-5000 years ago.

And yet he believes in unicorns . . . .

5 Ryan

I love creationists – they even built a creationist museum in KY.

They have dinosaur replicas. With people riding them. Riding. Them. !

6 Larry

Hmmm . . . . .

7 Rafiki

I believe in dinosaurs, I have nothing to back my belief but I still believe they existed.

Dinosaurs probably ate unicorns so Ninja doesn’t want to believe.

8 Ninja

God and Dinosaurs are not mutually exclusive entities, so no, it has nothing to do with my faith. I thought my sarcasm was a little clear when I said “conspiracy theory”. That said, when I was a kid I wasn’t convinced they existed. Don’t know why, just was always skeptical.

9 Rebecca

Actually, if the home sellers are desperate to sell, you make them pay your closing costs! Ha Ha!

10 Norman

Your fear of “falling asleep in public” should have been in yesterday’s post. But I’ll cut you some slack…this time. The national savings rate boggles the mind doesn’t it? I’ve been trying real hard to get that rate up by saving half my income. I’ll keep trying.

11 Mo D.

I’ve got a friend that is in her mid-40′s, married to someone in his early 60′s, and they have no retirement savings… NOTHING! THAT boggles my mind!!

I, too, can’t fall asleep in public; ever watch the Seinfeld episode when Jerry was given the gas in Dr. Watley’s office? ;-)

Did you know…. I bowled my best 10 pin game when I was 15? Scored 236!

12 LG

Did you know that you had a spelling mistake in your second paragraph? You said “knew” instead of “new”.

And Quantum Leap is an awesome show!

13 Financial Success for Young Adults

Did you know that Arnold had a love child? Obviously that is not a financial fact, but this is…. Did you know that he and Maria generate 1/5th of their income just from investments? Now that’s a fun fact, especially when California couldn’t pay it’s citizens tax refunds.

14 Robert @ The College Investor

Fun list. Isn’t it embarrassing how little we Americans save. It reminds me of the dumb advice you overheard the other day!

15 Brian

Credit cards, student loans, and mortgages are the biggest barriers to reaching financial independence. Think about how much money is spent on these during a lifetime. Things that make you go hmmmm..

16 D*Rockafeller

I’ve always wondered if the national savings rate includes employer contributions. I would assume not, but if so, it would make our national savings rate that much more pathetic.

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