You can do the same math with MagicJack, but the call quality is simply not acceptable to most humans.  Read the reviews.  Vonage perfected the technology of VOIP (voice over internet protocol) years ago, but the business model is good for Vonage.  You still get to pay monthly, only the fee is less.  ooma lets YOU pocket the savings of using VIOP.

Fork over the one-time cost of $250 and enjoy local and long distance calling with a local number forever over your broadband line.  See GeekBrief.tv for additional product review.

I bought my ooma Telo (base unit) and handset the InvestmentBuddy way, over ebay and saved enough money to buy the $49 handset and still be under $250.  Units may also be found at Amazon, or buy searching Froogle.com and sorting by price.

I ported my number I had held for over 25 years and presto … callers now dial the same number they have dialed for years and their voice arrives via my VIOP connection.  ooma has a variety of optional services that are available for nominal upcharges, like a second line, converting voice messages to text messages to your cellphone and a host of others.  The basic (FREE) version, however, compares favorably with the $50 landline package from AT&T with caller ID and three-way calling.

In the transition period as my old landline number was being ported (transfer) to ooma, there were some strange messages for about 3 days.  You also have to have a stable internet service provider (ISP) and I recommend a battery power backup for your router, ooma Telo and your cable or dsl modem.  You should want that anyway.  Bottom line, buy your ooma Telo and handset.  Port your number for another $40 and never have another phone bill, ever!  Save thousands, like the InvestmentBuddy.

My son is in the military.  He has struggled with academics most of his life, achieving high marks in some schools and reaching certain goals and struggling with others.  The military has been very good for him, and he is a great young man.  After a few years fighting for our country, he became an officer.

My wife and I traveled 600 miles to see him be presented with his stripes.  After the ceremony, fly-over and reception, we went to lunch at a famous local establishment.  There he proceeded to tell me the good news.  After struggling for five years to make ends meet, his pay would almost triple.  What?  Yes, he would be making almost three times what he had been making earlier that day.

I congratulated him again.  His mother teared-up, and I brought the conversation back down to a very serious tone.  “Son, I have been wanting to tell you the Secret of Life for several years and now I have the opportunity. You are about to be faced with an incredible desire for your spending to catch-up to your earnings.  It will be SOOOO easy for you to once again spend, invest, blow, etc all of your income.  As soon as you return to the base you should create a budget out of your existing expenditures and add, say 15% so you can enjoy the fruits of your great accomplishments.”

There was not a pause.  There was not a reflection. There was not an immediate acceptance of the value of this advice.  What returned is, “You don’t understand.  There is NO WAY I can live on what I HAD BEEN making! I was living a dirt poor existence.”

Then I reflected … did I approach him too fast?  Should I have approached him differently?  Our relationship is like that of many parents of young teens and adults.  They cannot be easily taught, but once they learn the facts the old fashioned way, through hard knocks, they realize how smart their parents are.  We have had the “rebound conversation” several times on other issues, so I know one day we will revisit the Secret of Life discussion.

Our connection remains strong and positive.  If he “gets-it” soon, his practice of increasing his savings at a young age could have a substantial effect on his retirement date, retirement status and his quality of life in his senior years.  Your paycheck may not ever triple, but the formula should be the same.  Whenever you receive a windfall, whether a one time payment or a salary increase, save most of it. Pull a token $100 and enjoy a good meal and a cheap bottle of wine.  Draw down $100 and go on a day-trip to a surrounding city and see some sights you have been putting off, but return to normal life and save the rest.  You will be amazed at how fast it will grow through compounding.

There are many types of Life Insurance available.  The primary life insurance products are Term Insurance and Whole Life.  Whole Life is also called Universal Life.

The big skyscrapers in major metropolitan areas are primarily owned by insurance companies.  How did they get so smart about investing in real estate.  They didn’t.  They got smart about selling whole life insurance policies.  Premiums are drafted month-after-month.  The premiums are huge.  The value of the life insurance diminishes as time goes on.  Please read that last sentence again.  The value of the insurance goes down?  That is correct!

Whole Life Insurance = Diminishing Coverage