Author: Manny Kagan

The Practice of the Theory of Relativity

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The Practice of the Theory of Relativity

 “If everything is relative, so is the theory of relativity”

 

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In 1915, Albert Einstein formulated E=MC2 the Theory of relativity. It took the scientific community 6 years to recognize him for it, and he was awarded the Nobel Prize in 1921.

 

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I read a fascinating account of his life in the biography written by Walter Isaacson, who also wrote the biography of Steve Jobs. We recently vacationed in Kauai where I had an opportunity to experience the theory of relativity for myself. My wife Elfa got timeshare through RCI to The Cliffs at Princeville. It is a nice condo-like resort located on the cliff, overlooking the ocean in the northern part of the island. The day after our arrival, we were invited to a customary orientation. The concierge introduced different vendors, who offered various local attractions for modest fees starting at $100.00. One of them presented a day-long trip, which included a water voyage, during which travelers could drink unlimited Mai-Tai cocktails. Another attraction was a boat tour to see a property from the water, which was recently purchased for $100 million (which I thought sounded like a significant amount of money) by Mark Zuckerberg, the founder of Facebook. The following day, a local friend told me that she visited the property before it was sold. It has 1,000 acres and a beautiful beachfront. In Hawaii, beaches are public, but you need to have access to them, which can be private.

 

 

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The next day we drove by a property with a For Sale sign. There was a box attached to the sale post with a flyer, describing the property as 2.5 acres of land with a view of the mountains (and no house or water access), listed for $3.5 million. When we went to the beach, located in the Hanalei Bay, there was a nice custom-built house next to the public parking, with a For Sale sign. Later on I saw the picture of this property on the cover of “Homes and Land Magazine”. The asking price of the 4BR/3.5BA residence, with living 3.125sf, and 15.224sf land, plus a 1BR/2BA 1.051sf guest-house, was offered for just $11 million. As Mr. Einstein pointed to us 100 years ago, everything is relative. To be fair, the magazine also listed lots of properties for less than $400,000. But “you get what you pay for”. The real estate market in Kauai is hot and pricey. The vendor at the Hanalei Shopping Village told me that the most popular occupation among locals is selling real estate or massage therapy. Sometimes they are combined.

 

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P.S. We had fantastic time here. We enjoyed the lush nature, beautiful beaches, and pleasant water. We were also showered by torrential rain and bitten by mosquitoes. We visited a Hindu temple, rested, read, wrote and of course photographed. Every morning I would go out to the cliff to greet the sunrise and see different birds come here for their breakfast. There is a reason why Kauai is called The Garden Island.

 

 

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Manny<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /> Signature

Does Age Matter?

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Does Age Matter?

 “We cannot change our age, but we can change how much to enjoy it.”

 

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Our oldest daughter was visiting us recently from Paris, where she lives, to join us on a vacation to Kauai. Before departing San Francisco, we had lunch at our favorite restaurant Zuni, with a dear friend who is 82 years young. Over lunch, Alona showed photos of newborns from three of her girlfriends, who all gave birth in their late 40 to early 50’s. They tried unsuccessfully for many years, and were finally able to conceive after reading “The Fertility Wisdom”, written by my good friend (and my personal healer), Dr. Angela Wu. Thankfully, with the advantage of modern medicine, far fewer women die during childbirth. And if Sara in the Torah was able to give birth at the age of 90 to her son Isaac, and then lived to the age of 127, which the Bible deems as a miracle, it is no surprise to me that miracles can be repeated again with the help of a 5000 year old Chinese healing knowledge, and modern implementation. After all, one hundred years ago, the average lifespan of women was 53 and 50 for men, and now it is 80 and 75 respectfully.

 

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You may have seen the movie I think that one of the reasons people live longer today, is that in the time of the information age, we are bombarded with a lot of information, which takes longer to absorb. As a result of education years and building carrier, children come in life later. In the past the relationship with children started earlier and lasted in average 30 to 40 years. Now it is basically the same – people have children later in life, and subsequently live longer.

 

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The result of living longer may for some, create economic hardship. The retirement age starts at the age of 66. But what if a person lives another 20 to 30 years? For those who own property, like our 82 years young friend, a possible solution is a reverse mortgage. In her case, the balance of her mortgage is $394,000.00. She has an adjustable loan, and recently she called me, concerned that the interest rate on her mortgage might go up. I’ve refinanced her mortgage numerous times over the years, but now because of the lack of steady income, she is not qualified. For her, a reverse mortgage is a great solution (and she is qualified to get one). She can stay in her home as long as she can, because there is no mortgage payment to drain her cash flow. Yes, age matters. Here are the benefits for being advanced in age; and having children later and no mortgage payments.

 

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If you have questions how to benefit from those programs, come to our seminar.

P.S. One of the ways to live a long life is to have joy every day. Is not this why we want to have children regardless of our age? Another way is to work hard and to have often vacations. We enjoyed one week in Kauai, which brought back out vitality. Hope you’ll enjoy the images of children and parents I photographed at the beaches in Kauai.

 

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Manny<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /> Signature

Giving is Receiving

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Giving is Receiving

 “We all receive blessings all the time, share them.”

 

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I had a meeting downtown recently, and when I returned to the parking garage, I couldn’t find my parking ticket. I searched everywhere, but it seemed to have vanished. There was only one choice – to stand in line to the cashier and to pay the full price. While standing in line, I heard that the man in front of me had a similar problem. Also in line, was a young woman, who claimed that she just came in for ten minutes, to return merchandise to the store, but when she returned, she could not find her wallet. I do not know what she was expecting, but then another woman who stood in front of me, pulled out $10.00 and offered them to her. At first, the young woman protested, saying that she wouldn’t be able to pay her back. “Do not worry…” the giver said, “help someone else next time. The universe has already helped me”, she continued.

 

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You may have seen the movie “Pay It Forward”, starring, Haley Joel Osment, Kevin Spacey, Helen Hunt (I strongly recommend it, if you haven’t seen it), which demonstrates a similar concept. Some call it the Laws of Karma. When I got to the cashier, I was told that two hours parking will cost me $36.00 without the ticket (instead of $7.30). But if I find the ticket, I can get reimbursed. Later on I did find it, on the floor mat of my car. I came back later and got my money back. I realized that I had to have this experience, not only to have the story to share, but also as a reminder about being more charitable, and not only with money.

 

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The previous day I was remarking to a colleague, that I spend a lot of time giving free advice to people, just to find out that they cannot qualify for a mortgage. But it is probably supposed to be this way. After all, if I have the knowledge, what else I can do with it, but to share and help people. At the end about 20% can get a mortgage and I get paid for my efforts. When I started writing this story one night, I had no idea where it would lead me. But the following morning it came to me. It is like planting an apple tree. It will take a long time before it bears fruit. And who knows if it will be me who benefits from them. Plant it anyway. I usually write my “Encounters Stories” and “Mortgage Solutions” at night, after dinner. I am tired, after a long day solving other people’s issues. But at the same time I enjoy the process and the fact that some of my readers appreciate the results of my labor. If you do, send it forward, there are many others who would like to have your experience as well. Share it with a friend.

 

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P.S. Today’s images are taken on the streets of San Francisco. They are obviously about giving. Please do not judge, give. My new photo book “42 Encounters in San Francisco” is almost ready. I will make my announcement here when it becomes available.

 

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Manny<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /> Signature

Today is A Happy Day

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Today is A Happy Day

 

“Happiness is a mindset.
You can set your mind to feel happy.”
 

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For those who know me well, every day is a happy day. But today is an especially happy one. The young-at-heart couple I was helping to get a reverse purchase loan, are moving into their first home, as homeowners. It was not exactly their American dream. When Margarita, now 72 and Igor, 81, came to the United States 17 years ago, they never imagined that they would be able to buy a home. Over the last 12 years, they were renting a house, where they thought they would spend the rest of their lives. After all, with a yearly income between social security and a small pension of $20,000.00 a year, even renting could be problematic. They were referred to me after finding out that the home they’ve been renting, was about to go on the market. I wondered, “Is there a miracle I can pull out this time?” In a flash, I remembered about purchase reverse mortgages. This would be the first circumstance in my career to obtain one for my clients, and besides, our government, who offers the HECM (Home Equity Conversion Mortgage) loans through the FHA (Federal Housing Administration) programs, just changed the rules. Previously, practically anyone at the age of 62 could get a reverse mortgage, now borrowers need to be qualified. Luckily, before they retired, the couple saved money, and had $175,000+ to their name. The size of the loan depends on two basic factors: the age of the youngest person and the estimated value of the subject, as well as the zip code. The couple started looking in the East Bay and their real estate agent Dina Bruk (you can contact her at 925-360-1827) found them a few properties in Pittsburg, CA. Following number of unsuccessful attempts, they offered $375,000.00 for a property listed for $325,000.00. After a month of the underwriting process and dealing with the minute conditions, to my relief, the loan was approved.

 

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With the reverse mortgage, they are not going to have any mortgage payments. They are still responsible for their insurance bill of $703.00 a year and their property taxes of about $4,500.00 a year. And that’s all. Their 3-bedroom house is not far from BART, and close to nature. Meanwhile, after I realized the power of reverse mortgages, I started to offer them some of my other qualifying clients.

 

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We just finished refinancing a condo conversion of a four-unit building for another client, Marie. It was a tough process to satisfy the demands of three additional partners. I was surprised when Marie told me that now, that she can finally enjoy her life, she wants to sell her beautiful condo and move to a house with no stairs to climb. At her young age of 73, she still works and has qualified for a $320,000.00 loan with monthly payments of $1,500.00. In the conversation I asked her what she thinks about a reverse mortgage. She knew about them, since her brother, who is a financial planner, told her that he recommends them to his clients. “How about buying a 2-unit building for about $850,000.00 in the East Bay?” I asked. With the reverse mortgage, there will not be any mortgage payments, and the rent from the upper unit will pay for the taxes and insurance, plus the balance will be enough to enjoy life without working. This suggestion made her think. Since there is some confusion about what reverse mortgages are and how they work, I decided to give some clarity. To help you understand why I call them “Uncle Sam’s Gift”, please join my friends and I on September 10th for an informative seminar.

 

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P.S. There are many young-at-heart people…like some of these beautiful women I photographed, who are ready to enjoy their lives without the need to worry about paying a mortgage or rent. Not everyone can be qualified, but you might know someone who will.

 

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Cheers,

Manny<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /> Signature

Wedding Anniversary

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Wedding Anniversary

“It is easier and more fun to travel through life with a friend”
 

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I recently had a conversation with a 22 year-old young friend.  “How do you know if she is the right one?”, he asked, referring to the relationship he had for 7 months with a girlfriend. “Ask your heart”, I suggested (something I learned from my wife, Elfa).  I read somewhere that Thomas Spencer, one of the founders of British Department Store “Marks and Spencer”, said, “If in doubt, cut it out”.  I think this phrase can be applied to many things, especially to relationships.  Perhaps this is one of the reasons that so many couples break-up – doubt.  Jesus who said, “For I know where I come from and where I am going.” (John 8:14).  But how can we, mere humans, know our way, and if the person we are travelling with will be with us for the entire journey?  After all, even Jesus was betrayed.  I have no idea how it works, but I “knew” when I first met Elfa, that she would be my future wife, when we were both 19.  We got married less than a year later.  We both “knew” that we were destined to be together.  Of course during the next 48 years there were moments of doubt.  But somehow connecting with our hearts we found the right answers.

 

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We got married on August 8th, 1967 in Riga.  Our wedding celebration was in Jurmala, a resort area 40 minutes away by train.  A small group of relatives gathered in the backyard of a summer house that our family rented.  We were both very young, beautiful and naïve.  And now 48 years later, it feels like it was yesterday.  This year, to celebrate this special day, we drove to Carmel-by-the Sea for the weekend.  This place reminds of Jurmala, where we wed.  The seawater is cold, the sand is white, the weather is often foggy, and pine trees surround it. This area attracts a lot of visitors.  This town has good restaurants, many art galleries (a few good photo galleries as well).  On this trip we encountered many people, especially from Asia.  I went to the beach a few times a day to photograph people and capture the beauty in the different light.  And we just relaxed.

 

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Many people, who find out that we’ve been together for over 48 years at our young age, ask for our secret.  I will gladly share it with you.  Two words “Love” and “Care”, the rest is just interpretation.

 

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P.S. Carmel is all about the sea, this is why it is called Carmel-by-the Sea.  I hope that my images will convey the feeling and desire to visit this beautiful place.

 Do Not Keep Me As A Secret!
Smile And Please SHARE It With A Friend!

  Cheers,
Manny<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /> Signature