Knowing When To Say It's The End

In the last couple of months I've watched 2 episodes of a long running reality show. At the end of each, I've come to the same conclusion- the show has run its course, and it's time for the participants to get day jobs. When I mentioned this to my mom, she said she has had the same thought.

I've also had this happen with a book series. An author wrote several books featuring a main character that I really enjoyed. When I read what was to be the final book in the series, it was clear that it should be the last. The voice of the character was so different all the others that I wondered if it had been written by someone else. Recently I found out the author has revived the series by writing new books. I read one. While better than the supposed end of the series, it is clear the author is running thin on plots. I won't be reading any more.

Knowing when to say it's the end is tough. Inertia itself is a powerful force. Keeping on doing what we're doing is often times much easier than stopping and doing something new. Also, change is scary. In addition, both of the examples are about money- for the reality show subjects, the studio, the author, and the publisher. 

I experienced what happens when you don't say "the end" soon enough in my own career. For several years I was in a job that was very good for me professionally and personally. Then, in a series of management changes that even to this day I'm not sure how they happened, it became a horrible job. At first, I did my best to change the situation, however, I eventually realized what would have to change in the situation was me. I had to leave. It was to the point that I told myself I could leave without another job if I didn't find a new one by a certain date, not a decision you should make lightly. Looking back, I tell people my mistake was that I stayed 3 years too long. Interestingly, not long before the management changes, I got an invitation to explore another career opportunity that was potentially a really good fit. At this time, I was comfortable and happy in my job. I regret to this day that I didn't explore the option. I don't know that it would have been the right path for me, but I'll never know because I didn't look into it.

My hope for you and for myself is that as we go through life, we will pay attention to signs that things are at their end. Change is scary, but staying too long in something is far worse in the long run.

Interest in Ibonds

Note: I am not a financial advisor, nor do I play one on TV. This article is not a suggestion for you to buy anything. It is my thoughts on something interesting to me. If you'd like to learn more, do your own independent research from reputable sources. 

This week I came across a reference to I-bonds. I had never heard of them. Apparently they have been getting quite a bit of notice lately, and for good reason. The interest paid on I-bonds is made of two components: a fixed rate that is set when you purchase the bond (currently 0%) and an inflation rate the changes every 6 months based on the Consumers Price Index for All Urban Consumers (CPI-U). The inflation rate through the end of October is 3.54%. That's way better than you are going to find for any other ultra safe investment. But here's the kicker- the inflation rate goes to 7.12% effective November for the next 6 months. Yes, 7%! As always, interest on U.S. bonds is exempt from state and local taxes, and you only pay federal income tax on the interest if you redeem the bond or when it matures in 30 years. The interest might even be exempt from federal taxes if it's used for certain higher education expenses. Quite a deal. 

Purchase dates are interesting with I bonds. As long as you purchase by the end of October, you are credited as having owned the bond effective October 1st for interest purposes. If you purchased on October 27th (latest day I've seen advised to make sure the purchase is credited for October), this how your interest would work for the 1st year:

October-March: 3.54%

May-September: 7.12%

After that, the rate will reset to a new rate based on changes in the CPI-U. Do note: you have to leave the money in the bond for at least one year, and if you redeem it any time in the first five years of ownership, you forfeit the last 3 months of interest.

Here are some resources if you'd like to learn more. I have found this very intriguing.

Treasury Direct

Doctors of Credit article on I-bonds

The Finance Buff article on I-bonds

P.S. I read about someone who bought I-bonds when the fixed portion was 3%. That person's bonds will be paying over 10% (3%+7.12%) come November, all for an ultra safe investment. Happy times to that person.

Bacon on the grill

Like many people, I love bacon. I don't eat it often because 1. it's not the healthiest food and 2. bacon is expensive. It didn't used to be, but it certainly is now. When I was at the grocery store last week and saw Oscar Meyer Natural bacon marked down from $9.99 to $3.49 because it was nearing its sell-by date, I bought all 3 packs they had. If there had been more available, I would have bought them. I put two packs in the freezer for future use and kept one in the fridge to cook. Normally I cook bacon in the oven on a rack over an edged baking sheet. It's less messy than stove top, but still a hassle. I wondered if you could cook bacon on the grill. A google search revealed you can, and it got great reviews.

Today, I gave it a try. You turn on the grill, put a cast iron pan on the grill surface, then close the lid until it reaches 400 degrees. Then add the bacon and cook for 5-7 minutes on one side. After that, flip the bacon and cook a few more minutes until done. This is by far the best way to ever cook bacon other than having someone else do it for you. Here is the finished product:

I like my bacon extra crispy (aka almost burnt), but you can cook it your preferred texture. Cleanup was easy- drain off the grease (do not it put down the sink- PSA from the person who works for the sewer company) and wash the pan. No grease on your stovetop or in your oven, and no lingering smells in your house. Next time you need to cook bacon, definitely give this method a try.