Financial Anger

Currently I am maddened by the 401k company.

I'm in the process of updating Quicken to reflect my total net worth. Currently it just has my cash accounts and my car. I just recently started the 401k plan and as it turns out I'm fully vested. However I couldn't log on to their site to check the balance. I was missing a correct username and/or password. It's odd because it should have been the same from my previous 401k account.

Okay so just send them to my email. Well I've got to know my account number before they'll do that. So this is a new 401k account my company just signed up with and I really don't have/never got the original papers.

But the next day I decide to call them. I can't make it through the phone tree without a phone ID. When I talk to the rep he can't release any information, except he CAN mail out my online ID, phone ID, PIN and password so I can eventually view my account. The password got here a day before the online IDs. Took freakin 5 days by snail mail.

Turns out I already set up my online ID when I made my selections but the password is changed to something random now. They probably reset it for security but I swear I tried the correct combination when I first logged on. I changed it back.

I finally get to see my account. There's about 2 large sitting there. I fire up Quicken to sync up. Internet Explorer and Google's popup blocker throw a collective hissy fit over the activeX and pop ups. But whatever I get in. All I need to do is download through web connect, something Quicken says this company supports.

I can't find it ANYWHERE. After poking around for three minutes I am logged off for inactivity. Any attempt to refresh the site or log in is greeted with login errors using both the password they assigned and the New one I received. Eventually after trying every combination I was locked out for 24 hours.

The message on their phone service? "We are experiencing technical difficulties please try your call again"

At this point I have no less than 12 ways the 401k company could have made this easier on me and improved my experience. I appreciate that they take account security seriously but inconveniencing people is not good service ESPECIALLY when a good chunk of my money is involved. It's mine and I naturally feel a bit disconcerted when I feel I have no access to it.

1. Allow login by SSN
2. Allow email retrieval of passwords.
3. Use the email I provided to give periodic statements, so that I wouldn't have to log in. I have received 0 emails from the 401K company.
4. Allow phone support if someone is missing their online ID
5. Allow alternate verification if someone is missing their phone ID
6. Notify customers by email whenever their password changes or has been reset.
7. Overnight or express deliver snail mail documents.
8. ALLOW EASY INSTANT SYNCHRONIZATION WITH QUICKEN MONEY ET AL. I shouldn't have had to have looked for more than a minute. I'm learning most sites where you can't find it, don't have it.
9. Have a site that works. (okay... I admit that's never a guarantee, but still Tuesday at 5 is not exactly peak traffic)
10. Have a site that doesn't lock out customers for failed logins when the authentication server is not working
11. Notify customers by error message that the site is not working rather than pretending to authenticate.
12. I realize no company wants to pay 800 charges to keep customers on hold for 15 minutes but the whole disconnecting thing is just fucking rude.

Finally go to
http://www.subnixus.com/

Because I said so. (They have a contest and it's the last day et.)

Personal Electronics: The Cel Phone

I have a love hate relationship with cel phones. I have a general distaste for most personal electronics, however I also understand the value of having one. I find them rude in public places and they add a new way for life to interrupt you away from home. I know some people who live and die by their phones and they always seem frantic-- constantly juggling tasks and conversations.

It seems anti-simplicity... in most cases anyway.

The main times I want to have a cel phone is if my car breaks down, if i get lost, if I'm meeting someone in a large public place or if i travel and don't want to pay 6.00 to make a call from the hotel phone. This all adds up to about 12 minutes or so a month.

Virgin Mobile offers a no contract, prepaid by-the-minute plan. The phone cost me 25 bucks. There's probably better rates out there but for 20$ every three months (you have to top up quarterly to keep active) I can maintain a cel phone for the above situations. I keep it in my car, so it charges whenever I drive and I always have it with me, without having to carry it.

That way it's a useful tool but doesn't take over my life or make me waste money on monthly minutes I never use.

Also for those who missed the weekend posts your better than lottery chances of winning a trip to Vegas are at http://www.subnixus.com/

http://www.subnixus.com/

Enter today for a chance to go to Vegas... or get money. :P You get up to 10 chances to win if you have a blog etc.

More Contestness

While I'm trying to beat some odds.... I filled out a survey for my apartment complex that offered a possible 500$ cash prize for my opinion. I got to vent about the parking situation outside my building so it was a double win.

My opinion is, of course, worth every bit of that 500$ so I'd better get it.

Also http://www.subnixus.com/ is still running their contest till the 28th. It's a pretty decent chunk of change or a trip to Vegas.

Because (not) everyone is doing it...

Subnixus is giving away a trip to las vegas or 1,300 cash as part of a promotional contest. Hey so far it seems to be working.

http://www.subnixus.com/

"He who desires the admiration of the world will do well to amass a great fortune and then give it away. The world will respond with admiration in proportion to the size of his treasure. Of course, this is meaningless." -Hua Hu Ching, Verse 9

Meaningless? Maybe. But the marketing acuity of the Taoist sages is undeniable.

I'm right there with Frank on the whole lottery thing, but this has a very good chance of a positive return with no risk.

Univeral Oneness of Home Electronics

I own one piece of home electronics... a PC. It functions as my radio, CD player (not that I own and CD's anymore, MP3 player, DVD player and television. In addition to the usual computer stuff and of course, games.

Most of my PC functionality is pretty self-expalnatory. It plays CDs, MP3 and DVDs. I listen to ad-free MP3 streams rather than local radio. For television I download the few shows I actually follow. A high speed connection is cheaper for be than basic cable and I get a discount on it through work. As an all in one entertainment center I concede it's not as good as an HD TV with surround sound-- but it's adequate, saves money, and the doesn't need an additional big piece of furniture to house it.

I've spent a fair deal of money upgrading it and getting the 19 inch monitor, graphics card etc. For the cost, I probably could have bought a bunch of cheap electronics; but since I have to own a computer anyway, it's a good value for me. Plus if it ever breaks I know exactly how to fix it, which means never paying for shipping or labor on repairs.

Another benefit? PC's bring in a terrible return at the pawn shops. When my apartment was robbed a few years ago they took: the stereo, the TV, the DVD player and the Playstation. They didn't touch with the computers.

If you're at all technically inclined/interested I highly recommend learning how to build and repair your own system. It's really easy when you know how and if you buy the parts individually you can cut the cost of a computer in half (if not more) than a Dell or other preconstructed machine. And unlike making your own pants-- a computer you build yourself will probably be better than name brand models.

Verification

I totally understand why we can't use mother's maiden name as a security question anymore. It's not really secure. Unfortunately a lot of companies come up with these verification questions that are completely obscure. My biggest peeve is when they ask for "favorites".

Favorite restaurant comes up a lot. I eat out all the time, so naturally I have a lot of candidates for favorite restaurant. Favorite Indian? Favorite everyday eating? Favorite Michelin Star international haute cuisine culinary institution? And how am I supposed to remember which one I picked? And what if I get a new favorite or if my former favorite serves me a bowl of soup and human hair?

Favorite Band? I listen to dance music. Favorite song? It changes weekly. Pets? They're all fish. By the time I forget my online password they'll probably be dead. What about drug of choice?

You can probably see where I'm going with this. Virgin mobile is the worst offender. I lost my login and now to access my account I have to remember not only my answer but the question I chose to answer (there are 7 or so). I haven't been able to log in since I set it up.

There are better and worse ways to identify people and it seems like companies are just coming up with whatever makes them seem cool. I prefer father's middle name, personally.

Credit Card Chaos

I am in the process of optimizing my credit cards into a harmonious configuration.

I trimmed a couple accounts down to one, which I use for online buying and recurring payments. It has a nice high limit that makes it ideal for rainy day stuff. Like if they fire me for blogging at work.

I also have a 0% APR card till January 2007 which will let me carry a balance if I need to. I don't really have any plans to do so but there are some computer upgrades and such I could split in half. This card is through Washington mutual and the other nifty feature (which sold me on getting it) is that I get free live FICO credit reporting.

But... since I always pay off my balances when there is an interest rate, I'd really be best suited to a rewards card where I get airline miles, cash back or some kind of bonus. Which is why I'm looking at this American Express Blue application...

That just seems like it's going to be too hard to keep track of. I could eliminate my first one, get the blue and keep the WaMu for the credit report (I really like that idea because scores are expensive).

Company Bonus

Our company bonuses came out Friday and people have already started buying new electronics.

I, on the other hand, have earmarked 80% of it for a money market account with a 4.6 %APR through Virtual Bank. I'll probably add the other 20% but I don't like to be too impulsive with my saving. (I get 20$ for signing up and once my account is set up I can invite friends). I think I was bouncy as I described it to my co workers.

I get teased because I'm usually the only one with disposable income (no kids) but I also spend way less.

My whole approach to bonuses is that they're "extra money". I don't plan them in my financial decisions and I don't miss the money if I chuck it in savings. Plus .... 4.6% APR!!!!! What could be better than that? Well... ;)

Thanks to Neo for letting me know about it.

Philosophy of Money

Since this blog is new I figured I'd lay a foundation of explaining, in part, my philosophy behind money and spending.

First, I don't believe that money can buy happiness. Being dirt-poor can almost guarantee misery, but simply having a high net worth does not give a person the capacity to enjoy their life. I think this is common knowledge, but then I see people acting like money is the answer to their deepest dissatisfactions.

Second, I strive to be a minimalist. There is nothing that I own that I don't use or that doesn't serve some needed function. I can fit most of my possessions into one room if I had to. This cuts down on clutter, cuts moving time and I can find anything in less than 5 minutes. Some people see it as having nothing, but I see it as being surrounded by the things I love the most.

That's not to say that I don't go and blow some money on clubbing, comic books or clothing (my 3 C's). But the overhead on my necessary expenses is so low that I don't have to worry about it. Sure, I keep careful account in Quicken but whenever I spend money it is with the certain knowledge that I can afford it.

Thirdly, not worrying about money is one of the things I equate with true wealth. Fortunately it can be achieved relatively early on in the game. So while microeconomics fascinates me and I love entering my receipts in Quicken-- I never worry about the money.

Finally, whatever I have left over, I throw in savings and forget about. I've got enough right now to last me three months if I lose my job or if I decide to quit. With the security and sense of independence that buys me I think the best thing I could ever spend my money on is nothing at all.

Ultimately I aim to be happy and to enjoy the time I have. Money is incidental to happiness but integral to living. I think the best thing is to care little for wealth but to have it anyway. You know, just in case.

Introduction

The useless tree was a tree mentioned in the Taoist writing of Chuang Tzu. In the parable, the tree was so ugly and crooked that no one bothered to cut it down. Left alone by man, it grew into something huge, magnificient and near immortal. Part of my inspiration for choosing this name for a blog about personal finance is that it draws from my Tao-inspired school of thinking about the world.

By and large my life is not impressive from the outside-- I don't own a big house, fancy car or designer wardrobe. Hell I don't even really have furniture. What I do have is zero debt and a positive net worth that just hit eight grand. I try to live minimally and enjoy my life (and my remaining youth) as much as humanly possible. Again, it's not really that much but it's my hope that I will, in my own strange and crooked way, build something huge and inspiring.

The second reason is that when registering the account I had to cough up a name and invaraibly, no one ever decides to name anything after a useless tree.