Here is a cool video from the MySpace page for Skydive Spaceland, where we made our jump. (you may have to click through if you are reading this from a reader or e-mail).

There were 6 of us making the jump: me, my wife, my Mom, sister, brother, and Dad’s coworker. My Dad wanted to go but, unfortunately tweaked his back recently and his doctor recommended he not jump this time. He plans on going for his birthday in August, if able. So how was it?

Skydiving was absolutely amazing! This was the first jump for all 6 of us, and we all had a great time. My Mom and sister each bought another jump because they loved it so much! They got a discount for purchasing their second jump in advance. Skydiving can be fairly expensive, but we were able to get nice discounts on our jump by taking advantage of a group discount and for jumping on a weekday. Just like vacationing in the off season, you can save money by doing things outside of the peak times. The total cost was around $135 per person.

The Jump

The entire jump, from take-off to landing only took about 25 minutes. It took about 15 minutes to get to altitude, a few minutes to get lined up for the jump, and maybe 7-8 minutes to reach the ground, including the free fall.

The free fall was amazingly loud and I could feel my face rippling as the wind whipped across my body. At 6,000 ft my instructor gave me the signal to pull the cord. I waved in acknowledgment and pulled the orange golf ball attached to the rip cord.

I was expecting a huge jolt, but it was surprisingly gentle. We slowed down to a controlled glide and the instructor showed me how to steer and control the fall by pulling the left and right cords. When you pull them both (flare them), you could slow the descent to almost nothing. Conversely, if you pull one down hard, you can steer yourself into a fast spin. We did a couple 360s and 720s, flared to a stop, and guided ourselves to the landing zone. Right before touchdown, we flared the cords again and it slowed us down well enough that we just had to put our feet down and stand up. All in all, a great jump!

For more info about what a jump is like and what to expect, check out the Skydiving Magazine FAQ page.

Here are a few fast facts about our jump:

• We jumped in tandem with a licensed Skydiver
• We jumped from 14,000ft, the max altitude you can go without oxygen.
• Our free fall time was approximately 65 seconds.
• We deployed the chute at 6,000 ft.
• We traveled approximately 120 mph (193 kph).

What to look for when making your first parachute jump

• Safety first. Find a jump school with a good reputation and that is certified by the United States Parachute Association (USPA).
• Check the school’s safety record. A quick search on the web will give you all the info you need on the school’s safety record and reputation.
• Understand the basics. Pay attention to the instructions, ask questions, and go over the sequence of events with your instructor. He or she will likely go over this several times with you, but be sure to do it until you are comfortable with what you are going to do.
• Know the risks. There are risks inherent to jumping, and you should be aware of them. According to SkyDiving Magazine, about 35 people die each year in the U.S. while making approximately 2 million parachute jumps. Most of these accidents were not caused by equipment failure, but most often by mistakes of procedure or judgment. Drop Zone lists several risks and requirements for skydiving.
• Read the fine print. You will be asked to read and sign several pages of waivers, disclaimers, and legal documents stating you assume all risks associated with the jump - up to and including death. Yes, death is possible, but well over 2 million jumps are safely made in the US each year, and very few result in injury or death. In any case, they won’t let you jump without signing the waiver.
• Have fun. Skydiving is a blast! There is a reason so many people do this every year, and the reason is that it is a beautiful and amazing experience. Live it up!

Many thanks to the folks at Skydive Spaceland in Rosharon, TX, and a special thanks to Ben for bringing me in safely.

Want to go skydiving? Check the internet for your local skydiving school or jump club, or call 1-800-SKY-DIVE to get connected to the jump school closest to you.

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I had a feeling our tax situation would result in us owing money to the IRS this year, which is one of the reasons I put it off for so long! Well, it appears as though I am not the only person pushing the envelope. Every year, millions of people wait until the last few weeks to file their taxes, and many hundreds of thousands wait until the final days!

If you haven’t filed yet, you’re not alone! With the tax deadline of April 15 right around the corner, Intuit, the maker of Turbo Tax products, again tallied last-minute online tax filings to find out which American cities are the biggest procrastinators when it comes to filing federal income tax returns.

Top 10 US Cities Most Likely to Procrastinate on Their Taxes:

The following list includes the TOP 10 TAX PROCRASTINATING CITIES IN AMERICA determined by the number of tax returns electronically filed online via the Turbo Tax Online service from April 14-April 17, 2007 (previous year ranking in parenthesis):

1. Chicago, Ill. – (#2) - Chicago hasn’t won a championship worth talking about since MJ was in town. Finally, they have something to be proud about!

2. New York, N.Y. – (#5) – The Giants may be number one in pro football, but New York is second on the list of late filers.

3. Houston, Texas – (#1) - Houstonians have topped this list 3 times in 7 years. If only their baseball team were as consistent at winning!

5.Austin, Texas – (#4) These guys have the best excuse of the bunch - they’re too busy rocking out at the SXSW Festivals to worry about taxes!

4. San Francisco, Calif. – (#5) – It looks like San Franciscans were so enamored with Barry Bonds last year, they almost forgot to file their taxes. Luckily, most of them filed in time. Mr. Bonds on the other hand, was investigated for tax evasion for not reporting memorabilia sales… Some celebrities are definitely not role models!

6. San Diego, Calif. – (#6) – Baseball, boat shows, and the beautiful ocean. It’s easy to forget tax season when you live in paradise!

7. Seattle, Wash. – (#8) I blame it on Bill Gates. I’m kidding, I just couldn’t think of anything snappy to say for Seattle. I did enjoy it when I visited a few years ago, but I missed out on the Jimi Hendrix Museum. That’s my excuse to go back!

8. Las Vegas, Nev. – (#11) – I can think of at least 2 dozen things I’d rather do in Las Vegas instead of taxes. Yep, I think I’d wait until the last minute as well!

9. San Antonio, Texas – (#7) – Every year in April, San Antonio holds Fiesta, a week long party celebrating the Hispanic culture. The food, music, beer, and atmosphere are excellent! Just another reason to delay filing taxes!

10. Los Angeles, Calif. – (#12) – Apparently Los Angelinos were busy chasing Britney Spears all over town and waited until the deadline to file their taxes. At least they didn’t let the forlorn Britney file their taxes for them.

Still haven’t filed your taxes?

Well, you’d better hurry! You’re down to just over 2 weeks to get them done! The good news is, I am giving away 2 free copies of TurboTax Deluxe to two lucky winners (giveaway ends Sat, March 29th!). If you miss out on the free copies of Turbo Tax Deluxe you can do your taxes for free with TurboTax Federal Free Edition today.

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The merger was officially proposed over a year ago, but faced several legal roadblocks - the main one being the ruling the FCC gave when they issued XM and Sirius operating licenses. It stated they were not allowed to merge due to anti-competitive reasons.

However, the two companies have been losing money for years (have yet to turn a profit, actually), and proposed a merger in order for both companies to survive. They argue they are currently at the point where they need to merge or die.

Is the XM-Sirius Merger Good For Consumers?

Pros. It will now be possible for subscribers to get access to all the major professional and college sports packages, as well as access to the most popular DJs who are currently locked into exclusive, long-term deals. Currently, satellite radio listeners have to choose from providers that have exclusive rights to sports such as Major League Baseball (MLB), the National Football League (NFL), NASCAR, and certain college sports divisions, as well as popular DJs such as Howard Stern and Oprah.

Cons. The big question everyone is asking concerns subscription prices. Will the monthly subscription fees change? The current prices for each service is $12.95 for a basic subscription. However, because FCC approval is needed for this merger to occur, the management teams from both XM Radio and Sirius Satellite proposed allowing subscribers to create their own packages and pay as they go. The a la carte option should range from about $6.99-16.99 per month, depending on features.

How will an XM-Sirius merger affect shareholders?

The initial response on Wall Street was positive. XM ended the day up about 15.5% and Sirius was up about 8.5%. However, if the merger is not approved by the FCC, it is likely those gains will drop. If it is approved, these companies have a much better chance at long term survival and profitability.

Is the proposed satellite radio merger a good idea?

The satellite radio companies believe they cannot survive without merging, but several opponents point out this will create a monopoly and it will be anti-competitive. The satellite radio companies argue their main competition doesn’t come from each other, but from land based radio, HD radio, interneet radio, mP3 players, iPods, cell phones, and hand held video games.

Is it anti-competitive? Personally, I don’t think a merger is a bad thing as long as the subscription prices remain affordable for the consumer. What do you think?

Disclosure: I own about 13 shares of Sirius Satellite’s stock. I got a $50 bonus to sign up for ShareBuilder a long time ago and used the bonus to buy $50 worth of Sirius. It is worth a lot less than $50 now.

Also, don’t buy anything based on this article. Use your own judgment.

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Changes to the new $5 bill

Changes to the front: There are several striking visual changes to the new $5 bill. There is a splash of light purple next to Lincoln’s portrait that fades to gray as it spreads toward the bill’s edges. To the right of Lincoln’s portrait (as you view the bill), there is an imprinting of The Great Seal of the United States. Surrounding Lincoln’s portrait and The Great Seal of the United States is a band of purple stars.

Changes to the back: The most obvious changes to the back side of the $5 bill include a large purple “5″ in the bottom right corner of the bill, small yellow “5″ numerals on the back, and a multitude of changes to the micro-printing and other security features.

Security features of the new $5 bill

The descriptions of the security features are taken from the US Government press release for the new $5 bill.

Watermark: There are now two watermarks on the redesigned $5 bill. A large number “5″ watermark is located to the right of the portrait, replacing the previous watermark portrait of President Lincoln found on older design $5 bills. Its location is highlighted by a blank window incorporated into the background design. A second watermark — a column of three smaller “5″s — has been added to the new $5 bill design and is positioned to the left of the portrait.

Security thread: The embedded security thread, which is located to the left of the portrait on older-design $5 bills, has moved to the right of the portrait on the redesigned $5 bill. The letters “USA” followed by the number “5″ in an alternating pattern are visible along the thread from both sides of the bill. The embedded security thread glows blue when held under ultraviolet light.

Rules for reproducing US currency

Don’t go printing these out! Here is what you need to know if you want to reproduce images of US currency:

Regulations for Reproducing U.S. Currency
PART 411 — COLOR ILLUSTRATIONS OF UNITED STATES CURRENCY
Authority: 18 U.S.C. 504; Treasury Directive Number 15-56, 58 FR 48539
(September 16, 1993)
411.1 Color illustrations authorized
(a) Notwithstanding any provision of chapter 25 of Title 18 of the U.S. Code, authority is hereby given for the printing, publishing or importation, or the making or importation of the necessary plates or items for such printing or publishing, of color illustrations of U.S. currency provided that:
(1) The illustration be of a size less than three-fourths or more than one and one-half, in linear dimension, of each part of any matter
so illustrated;
(2) The illustration be one-sided; and
(3) All negatives, plates, positives, digitized storage medium, graphic files, magnetic medium, optical storage devices, and any other thing used in the making of that illustration that contain an image of the
illustration or any part thereof shall be destroyed and/or deleted or erased after their final use in accordance with this section.
(b) [Reserved].

For more fun, explore the interactive feature for the new $5 bill. Click on the link under the small picture of the $5 bill - “Explore the Interactive $5 Bill.” This launches a separate window, but is pretty cool!

Photo credit: $5 bill front and back - The Associated Press. All other photos: MoneyFactory.gov.

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What does this mean for consumers? Well, until recently, people had to choose between two competing high-definition DVD formats if they wanted the most up to date technology. The only problem was that for the first few years, no one was sure which format would emerge as the standard. Each side, the Toshiba backed HD-DVD format, and the Sony and Panasonic backed Blu-Ray technology, lined up movie studios, production and manufacturing companies, etc. Both companies poured billions into research, development, and advertising in an effort to make their product the world standard. The winner would stand to earn billions of dollars in the coming years.

Fear of buying an obsolete product. Because consumers didn’t know what the outcome would be, many people were afraid to make the initial investment in the electronic hardware and the DVDs, both of which are considerably more expensive than regular DVDs and DVD players. Now, that the answer for which high-def format will be the standard has been resolved, consumers pretty much have the green light to go out and buy the Blu-Ray format high-def DVD player and DVDs without fear of the technology becoming obsolete right away.

Don’t rush out to buy it just yet. I don’t think it is a good idea to rush out there and immediately buy a Blu-Ray DVD player and a vast library of Blu-Ray DVDs. And if you have a CRT-TV like I do, the difference probably isn’t even noticeable. You will need a large screen, HD-TV to really get the maximum benefit of the high-definition DVD players.

Buying the player right away is not a good move. The demand for Blu-Ray DVD players will increase right now because the format war is officially over. This could keep the prices high for awhile until the demand drops. Don’t be surprised if new manufacturers license this technology and begin producing it in the coming months, which will further depress the prices. As with all technology, the player prices will continue to drop. I think if you wait a few months, the price will be much more affordable than it is now.

The Blu-Ray players are backwards compatible with standard DVDs, so you don’t need to rush out and buy dozens of new movies. If you have a Blu-Ray player, buy the Blu-Ray DVDs as needed.

Early technology adopters pay the highest price. Beyond higher hardware prices for adopting new technology, there are other associated costs such as the accompanying software, DVDs, upgrades, etc. Unless the new technology makes a fundamental change in your life or your work, it is often best to wait until it becomes standardized. Continual improvements and cheaper technology will drive prices down, and eventually you will be able to purchase that new technology at a reasonable price… or decide that you just don’t need it after all.

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What? You don’t believe me? All right. Let’s look at the numbers and see if I can show you how not buying a Nintendo Wii (and a few key accessories along the way) can earn you $1,000,000!

First, let’s start with the cost of a Nintendo Wii. If you are lucky enough to find a console at the retail price of $250, you are extremely lucky! Otherwise it will cost you about $450 via Amazon, and possibly more via eBay! When you consider tax, shipping, or buying a Nintendo Wii package that comes with different items included, you will end up spending a lot more than the suggested retail price of $250. Let’s assume you are able to purchase a Nintendo Wii for $350 (that is a very fair assumption in the current environment). Running total $350.

Next, you have to buy a few key accessories! The Nintendo Wii is set up to play up to 4 players, so let’s assume you buy a package that comes with 2 controllers. You will still have to buy two more. Two Wii Controllers will cost you $80, let’s also assume you need 2 Wii Nunchuck Controllers to play a couple games. 2 of these will run you $40.

Two of the most popular games on the market are Dance Dance Revolution and Guitar Hero. Dance Dance Revolution requires with a dance floor that you dance on with the game, and Guitar Hero requires you to purchase a special guitar controller that plugs into the Nintendo Wii console. Buying the game and accessories for either Dance Dance Revolution ($100) or Guitar Hero ($150) will set you back a little bit. For this assumption, we will only buy one, and we will use the average price. Add $125.

There are also other accessories such as a steering wheel, sports packs, swords, boxing gloves, and more! Let’s take care of the common accessories and just buy the Total Action Kit, which is $99.

Assuming you buy only one of either Dance Dance Revolution or Guitar Hero, and a fair assortment of the other accessories, it is easy to estimate spending $350 for accessories. Running total $700. (yes, I rounded up $6).

Games, Games, Games! No gaming system is complete without adding a few games to the mix. It’s hard to make a fair assumption for how many games you “need” to go with your system. Obviously some people have dozens of games, while others have very few. For this exercise, let’s assume you buy 1 new Wii game every other month (average cost $45), and we will assume you download one legacy Nintendo game every other month (cost $5). The total cost for one year of games will run you $300. That is a lot more than most people would assume before they purchase the console. Remember, buying a Nintendo Wii is not a one-time fixed cost! Running total $1,000.

Opportunity cost. How much time will you spend playing video games? Let’s assume you play for an hour a day and two on Saturday and Sunday For a total of 9 hours. I’ll give you the benefit of the doubt that you won’t play 10 hours straight on Sundays. If you work those hours instead, you could be earning some nice money on the side. The national minimum wage recently increased, but since you are so Wii-savvy, I will assume you can get a moonlighting gig hocking Nintendo Wii and Wii related accessories at Best Buy, which pays more than minimum wage (figure in the $8-10/hr. range). After taxes, I will assume an even $5 per hour, at 8 hours a week (I was generous and gave you a lunch break), for 50 weeks a year (again, I was generous and gave you a vacation break). Assuming you wouldn’t make more money elsewhere, your total opportunity cost is $2,000 per year. I bet you didn’t think about that did you? Running Total $3,000.

Other costs. Video games use electricity, and so does the entertainment system you run it through. You would probably use close to $10 per month, but we’ll assume $100 annually. How would you like a big screen TV to go with your Wii? How about miscellaneous cables, connectors, memory cards, replacement accessories, or patching the drywall after you throw your controller? OK, we won’t count the big screen TV, because you will want that for watching football and movies as well, and let’s face it, a big screen TV is an American right of passage. But the others… they are legitimate costs. Annual assumption $50. Running total $3,150.

Now let’s invest the total and add some time. Take your first year’s Nintendo Wii expenditures ($3,150), throw it into an index fund and let it ride. We’ll also assume you play the Wii for 5 years, so we can add annual amounts for opportunity cost ($2,000), electricity ($100), and video games ($150, assuming you buy half as many games after the first year) for a total annual addition of $2,250 for 4 more years.

Assuming we start with $3,150 and earn 10% compound interest, you will have $3,465 at the end of year one. Next, we will add the $2,250 at the beginning of each additional year, and add 10% to that new figure. At the end of 5 years you will have just over $16,600.

From the time you stop adding money to the pot, it will take you a mere 43 years to turn that amount into $1,000,000! I told you one could earn $1,000,000 by not buying a Nintendo Wii!!!

Wait a minute! You don’t expect me to believe any of this do you? No. Well, I think the math is correct, but that’s about it. This article is filed under “fun money.” It’s the holiday season - go have fun!

Note: This article was originally inspired as a farcical response to the article How to Earn $1 Million by Not Watching TV, by Jeffrey Strain from Saving Advice. For a similar view, read my article, Save $10 Million By Not Building Model Trains!

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How much does a Nintendo Wii cost?

Why is it so popular? The Wii is so popular because it is a revolutionary gaming system - unlike anything else on the market. It is interactive, and works on user movements in a way that no other system can. You swing the controller like a tennis racket to play tennis games, and you use an underhand motion with the controller to bowl. Sensors in the controller and unit interact with the television to give the player a realistic, interactive experience. Everyone who plays the machine loves it.

Some of the more popular games include Dance Dance Revolution, which has an interactive dance floor, Guitar Hero, which utilizes a guitar shaped controller, most of the sports games like tennis and bowling, and several other games which use guns based on laser technology.

So how much does the Nintendo Wii cost?

The Unit: Unless you can find a Wii at the list price of about $250, the gaming console will currently set you back around $450. But that is only part of the cost…

Don’t forget the controllers: The Wii, like most gaming systems, is more fun when you play it with other people. Unfortunately, the system does not come with enough controllers to go around. Some games can play up to four people at a time, so depending on which package you purchase, you should also expect to shell out about $30-40 per extra controller. Don’t forget some of the specialized controllers for games such as Guitar Hero ($170 for the game pack), Dance Dance Revolution($40 for the pad, or $100+ for the bundle), Wii Nunchuck Controller($20), or a Wii gun controller ($15+) for various shooting games. You can also purchase a Wii Classic Controller($19), Wii Remote Controller($40), Wii Controller Charge Station ($30). If you want to cover almost everything at once, you can buy the Total Action Kit($99), that comes with a steering wheel, golf putter, tennis racket, baseball bat, two swords, and a gun. There are also boxing gloves available.

Now for some games: Most games will set you back anywhere from $30-50. In addition to the great games mentioned above, no Nintendo collection is complete without at least one Super Mario game or at least one game from the The Legend of Zelda series. The Wii also has a lot of great sports games. If you want to save some money and purchase some great games, Nintendo has made its entire inventory of games available for download and play on the Wii. There are a lot of great bargains on the older games, some of which can be had for as little as $5!

Accessories anyone? Nintendo Wii accessories include memory cards, non-slip grips, console stands, carrying cases, game cases, and tethers to keep people from accidentally throwing the controller across the room.

Other Costs? I suppose if you wanted to get technical, there is the associated cost of electricity, or the opportunity cost of spending several hours playing games when you could be doing something “productive.” But the Nintendo Wii is one example of a gaming system that is productive. Play one for a few hours and you will realize that you are getting real exercise and probably relieving more stress than you thought possible. And even when you add all the costs together, those two benefits alone are worth it.

What is the total cost of a Nintendo Wii and some games?

Total cost of Wii: almost $1000.

This figure assumes the purchase of a Nintendo Wii system at $450 (which is currently the easiest way to purchase it), Dance Dance Revolution game pack ($120), Guitar Hero game pack ($170), 3 extra controllers (3 x $15), and 4 other games (avg of $40 ea = $160). Your costs can easily cross the magic $1,000 mark if you buy specialized controllers or other accessories.

The best part is, you can mix and match your gaming requirements, so you may end up spending much less than this for your system if you decide to buy one. If buying a Nintendo Wii is on your wish list this Christmas, I wish you the best of luck in finding one!

Is the true cost of a Wii over $1,000,000?!?

Read how not buying a Nintendo Wii can make you a millionaire! (just be sure to change the words model train to Nintendo Wii throughout the article!).

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Then disaster happens. It all gets taken away from you.

No, the award was not made in error. In fact, the first payment of $50,000 had already been made. The lottery ticket was legitimate and verified. But now it turns out that winning this big award may end up sending one man to jail.

The problem was that any form of gambling, including purchasing a lottery ticket, violated the probation order of convicted bank robber, Timothy Elliot.

Under terms of his probation, he “may not gamble, purchase lottery tickets or visit an establishment where gaming is conducted, including restaurants where Keno may be played.”

State lottery officials routinely cross reference winners of large lottery prizes against state records to verify whether or not they have any back taxes or child support, and Elliot’s name came up on the bad boy list. A judge will soon determine what will happen to Elliot’s winnings.

In this case, it looks like his luck may have run out.

What do you think should happen to his winnings? Should he be allowed to keep them or not?

Source: MSN.

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On Apple’s part, they refunded the price difference for those who had purchased the phone within the previous 14 days, and offered $100 Apple Store vouchers to everyone else who had purchased the iPhone.

Still that was no enough for Dongmei Li of Queens, New York.

According to the lawsuit, “the price reduction injured early purchasers like herself because they cannot resell the product for the same profit as those who bought the cell phone following the price cut.”

Wow! Only in America can you sue a company because you can’t make a profit on an item you purchased from them. Based on her lawsuit, every cell phone manufacturer or company that produces any electronic goods should immediately change the way their products are priced.

I don’t think so. I think this lawsuit should be thrown out before it ever reaches trial.

Slashing the prices of electronics soon after they are released is the most common business practice in the electronics industry. How many people have spent thousands of dollars on a computer or entertainment system that could be bought for a fraction of the cost today? What about the first people who bought DVD players, only to see the price of the same model drop by 75% in the first year? The same goes for DVD burners, external hard drives, and just about every other mainstream electronics item. Prices start high, then as newer technology or more competition comes out, prices are reduced. It has been this way for many years, and the iPhone is no different.

Cell phone companies offer $200+ phones for free when you sign a new cell phone contract. Every cell phone provider offers steep discounts for signing a new contract, extending a contract, adding a line, or for being a loyal customer for a couple years. It’s part of the business model.

Computers and electronics are constantly improving and the older models get discounted as the newer products arrive. In fact, when Apple Inc. cut the price of the iPhone, they also stopped production on the 4 GB iPhone model. I would bet that a newer model is already in work, and no one will want the old 4 GB version.

The woman suing Apple Inc. bought the 4 GB iPhone, which will no longer be produced or sold. I guess she is pretty upset that if she had waited a couple months, she could have bought a better phone for less that she paid for her phone. But, as mentioned earlier, this is the same pricing model most new electronics go through. I guess she has not bought many electronic items before, or she is just looking for some attention.

I think this lawsuit is ridiculous.

Source: CNN

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But seriously, why does a dog need $12 million? I understand you want the dog to be well taken care of, but $12 million is a little ridiculous. The $12 million goes into a trust which will be run by her brother, and there is no word on what will happen to the money when her dog passes. I’m assuming they won’t use the entire $12 million for doggy chow and gilded food bowls.

On a side note, she directed that her estate liquidate much of her properties and assets, reportedly worth billions, and that the money be given to the Leona M. and Harry B. Helmsley Charitable Trust. It’s good to hear that her money will be going to a good cause.

But $12 million for a dog!?! Why? The only thing I can think of is perhaps there is some kind of favorable tax advantage to placing the money in a trust. But I have no idea. $12 million for dog care just seems a little over the top to me.

Source: CNN News.

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