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Necc0 posted:Look at all those actively managed index funds! Unfortunately, lots of employers only offer actively managed options for 401(k)s.
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Aug 15, 2014 23:35
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Powerlurker posted:Unfortunately, lots of employers only offer actively managed options for 401(k)s. Well, that pretty much sucks. My conspiracy theory wheel is turning inside my head. Should it not be? What stops you from selling the actively managed funds on a quarterly/annual basis?
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Aug 16, 2014 01:41
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What would you then invest it in?
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Aug 16, 2014 04:00
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DEMAG posted:As a huge NASCAR fan and commentator that is loving hilarious! Which driver? If I had to guess I'm going to go with Jeff Gordon. DuPont didn't work out better dump it all in 3M! Dale Jr. She stopped eating M&Ms because a rival driver is sponsored by them.
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Aug 16, 2014 04:42
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canyoneer posted:One of my finance professors had a high net worth client who only wanted to buy stock in companies with a lion in the logo. My senior year of college, my friend and I would go to a huge craft beer store in town and buy a bunch of random craft beers, and then we'd have a new beer every friday. Since the store was really big and had a bunch of selections we had never heard of, we had to come up with some sort of criteria to choose beer. We ended up saying, "Let's grab beers that look good, but we'll put a huge preference on beers with animals on the label". It blows my mind that the same basic idea has been applied towards choosing stocks to invest in. Although on reflection, that was the policy which led us to discover Lion Stout, which is a phenomenally good stout. So maybe this dude is on to something.
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Aug 16, 2014 05:01
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100 HOGS AGREE posted:I got the check from Fidelity today for my 401k rollover and my uncle told me I should use it to invest in gold It's a great time to speculate in gold while the price is continuously falling.
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Aug 16, 2014 22:33
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Devian666 posted:It's a great time to speculate in gold while the price is continuously falling. Buy low, right? 
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Aug 16, 2014 22:46
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Devian666 posted:It's a great time to speculate in gold while the price is continuously falling. For what it's worth, gold has been hovering around 1300 for a while since coming back up off it's lows in January. Still. Dumping your entire 401k into it? I mean even gold bugs like Peter Schiff and Mark Farber still only recommend like 10-20% of your portfolio in precious metals.  Edit: Also, I am bad with money as I'm posting from the veterinarians office where we have so far spent like $3,000 over the last month on our cat's pancreatitis/diabetes problems. 
LogisticEarth fucked around with this message at 00:38 on Aug 17, 2014 |
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Aug 17, 2014 00:35
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quote:Gold chat I love those little mall kiosks that show up now and then with banners across them exclaiming "IT'S NEVER BEEN A BETTER TIME TO SELL GOLD!!!" in an effort to get little old ladies or their recent heirs to hock their jewelery, because the immediate and overriding simple question is always "so why the gently caress are you buying?" The exchange of money for precious metals makes people lose all sense of fiscal perspective for some reason.
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Aug 17, 2014 00:47
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Rick Rickshaw posted:Well, that pretty much sucks. My conspiracy theory wheel is turning inside my head. Should it not be? I work for a 401(k) provider and I would guess that most of the plans we administer offer at least an S&P 500 Index Fund. It's not always as cheap as Vanguard's, but paying an extra 20 basis points on your S&P position is not really going to have a huge impact, even compounded over 30 years. Edit: I'm not sure what the second question means, are you asking why you can't just sell the actively managed fund and take the money and open an IRA with it? 401(k) assets belong to the plan sponsor, not the individual participant, until they take a distribution or loan. If you take a distribution before retirement age you get hit with a 10% penalty on your principal and earnings. So if you sold the actively managed fund, the money sits in cash inside the 401(k) plan and you have to choose from funds within the plan's menu. I think I just did a really lovely job explaining that. Blackjack2000 fucked around with this message at 00:51 on Aug 17, 2014 |
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Aug 17, 2014 00:47
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LogisticEarth posted:For what it's worth, gold has been hovering around 1300 for a while since coming back up off it's lows in January. Still. Dumping your entire 401k into it? I mean even gold bugs like Peter Schiff and Mark Farber still only recommend like 10-20% of your portfolio in precious metals. True gold bugs recommend holding 100% physical gold and silver. There is a guy on the Fatwallet forums who made a huge bet on gold a few years ago. The original post explains it better than I can: quote:Nov. 7, 2010 @ 9:45p Spoiler: gold and silver dropped a lot, PLUS his "gambling losses" cover story turned out to be a little too real: quote:Mar. 14, 2013 @ 12:13p http://www.fatwallet.com/forums/finance/1041394/?start=800
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Aug 17, 2014 01:13
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Magic Underwear posted:There is a guy on the Fatwallet forums who made a huge bet on gold a few years ago. Best part is if you scroll down. quote:posted: Jun. 24, 2013 @ 6:35p Get a four hundred thousand dollar discharge? Time for high-rolling!
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Aug 17, 2014 01:59
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Blackjack2000 posted:I work for a 401(k) provider and I would guess that most of the plans we administer offer at least an S&P 500 Index Fund. It's not always as cheap as Vanguard's, but paying an extra 20 basis points on your S&P position is not really going to have a huge impact, even compounded over 30 years. I was just going over the 401(k) options at my new job and most of them had an expense ratio of around 1-1.2% (the Russell 1000 option was 1.18% versus .12% for the Vanguard equivalent). One was as high as 1.93%. Even the money market option that reported a zero yield had an expense ratio of .5%.
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Aug 17, 2014 02:58
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Powerlurker posted:I was just going over the 401(k) options at my new job and most of them had an expense ratio of around 1-1.2% (the Russell 1000 option was 1.18% versus .12% for the Vanguard equivalent). One was as high as 1.93%. Even the money market option that reported a zero yield had an expense ratio of .5%. I'm not sure what to tell you except that there are still lovely plans out there. I'll have to look up that Russell 1000 option, I was not even aware that there were index funds that expensive in the marketplace at all. Separately, I happen to manage money market fund product and can tell you that even though the expense ratio is listed as 0.5%, the fund is almost certainly waiving anything in excess of the yield. You will not see an eroding balance if you put some (or all) of your balance into the mmkt option.
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Aug 17, 2014 07:41
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CitizenKain posted:Dale Jr. DALE YEAH! Well get ready to be pestered about joining Nationwide insurace next season since National Guard dumped him. They care about their customers because they don't have shareholders. 
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Aug 17, 2014 13:38
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DEMAG posted:DALE YEAH! Well get ready to be pestered about joining Nationwide insurace next season since National Guard dumped him. Insurance goon here and I represent that remark 
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Aug 17, 2014 14:17
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Here's one, from an article about instant delivery startups:quote:We collect the groceries, mung-bean pasta included, jump into Banse’s two-door BMW M3, and zoom up to the Castro neighborhood to drop them off, well before the hour of our delivery window is up.
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Aug 17, 2014 14:20
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Blackjack2000 posted:I work for a 401(k) provider and I would guess that most of the plans we administer offer at least an S&P 500 Index Fund. It's not always as cheap as Vanguard's, but paying an extra 20 basis points on your S&P position is not really going to have a huge impact, even compounded over 30 years.
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Aug 17, 2014 15:26
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Cuddlebottom posted:Leasing a car equal to your gross salary, when you work doing piecework, is bad with money. Using an M3 as a delivery vehicle is terrible with money no matter your salary.
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Aug 17, 2014 16:24
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How much do you want to bet the guy using his M3 for grocery deliveries does not have commercial insurance? I'll bet two grocery deliveries
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Aug 17, 2014 16:31
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SlapActionJackson posted:Using an M3 as a delivery vehicle is terrible with money no matter your salary. I have an employee under me, I know his salary is about 35k, and one day his old Saturn broke down. Wasn't totalled, but a pretty expensive fix, comes into the office the next day with a brand new z4. I think oh while his car is getting fixed, he decided to rent the fanciest car from enterprise because he wanted to live a little. Nope. Somehow traded in the Saturn for a lease on the thing. California is really bad for that poo poo, because so many of the kids out here get their parents to buy them bimmers and Mercedes, and the joneses factor steps in.
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Aug 17, 2014 17:23
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Yeah it's terrifying the disconnect from people's salary to car price. I make six figures and it still scares me that I bought a 12k Kia.
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Aug 18, 2014 04:26
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oxsnard posted:Yeah it's terrifying the disconnect from people's salary to car price. I make six figures and it still scares me that I bought a 12k Kia. I still don't own a car and I'm not planning to get one. I can't make a business case for a car. Between public transport and taxis I pay less than owning a car, don't need a pay for parking and all the transport expenses are a business write off. I do live in a place where having a car is not really essential. I have been considering buying a winery and I'd need a van for transport/sales. That's about the only time owning a vehicle would make sense to me.
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Aug 18, 2014 04:45
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Devian666 posted:I still don't own a car and I'm not planning to get one. I can't make a business case for a car. Between public transport and taxis I pay less than owning a car, don't need a pay for parking and all the transport expenses are a business write off. I do live in a place where having a car is not really essential. Where in the world do you live where public transit is adequate and taxi response time is low, and where you'd be able to buy a winery? Because it seems like the latter would preclude the former.
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Aug 18, 2014 04:47
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Volmarias posted:Where in the world do you live where public transit is adequate and taxi response time is low, and where you'd be able to buy a winery? Because it seems like the latter would preclude the former. I live in New Zealand. Transport is not uniformly good but it's pretty good where I'm living. Our large cities are not really very large by international standards which means a short drive by car will put you in wine country. There's also an excess of vines at the moment (good supply and reasonable prices).
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Aug 18, 2014 05:15
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My buddy makes somewhere below 50k I believe. He just picked up a 2013 Baja Taco. $32k. Holy crap. He also has a stay at home wife, a house, and a 1yr old! Boggles my mind. I'd rather have a fully funded Roth.
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Aug 18, 2014 20:27
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SiGmA_X posted:My buddy makes somewhere below 50k I believe. He just picked up a 2013 Baja Taco. $32k. Holy crap. He also has a stay at home wife, a house, and a 1yr old! Boggles my mind. I'd rather have a fully funded Roth. I knew Taco Bell was getting pricier, but 
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Aug 18, 2014 21:14
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Dangit Ronpaul posted:I knew Taco Bell was getting pricier, but this is a finely aged 2013 vintage
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Aug 18, 2014 21:31
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Can you really put a price tag on a good taco?
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Aug 18, 2014 21:31
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Lol. http://m.autoblog.com/2012/04/25/toyota-prices-2013-tacoma-trd-t-x-baja-from-32-990/ Did I mention it's modded? It's modded. The payment boggles my mind. I couldn't afford it (mentally), and my household income is roughly double his.
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Aug 19, 2014 01:36
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People who have kids and buy pickups for a daily driver are, themselves, literal children. Jesus
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Aug 19, 2014 01:49
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oxsnard posted:People who have kids and buy pickups for a daily driver are, themselves, literal children. Jesus I don't really see the issue if it's in use regularly for other purposes. Like if you are a general contractor, it makes much more sense to buy a pickup and just use the one vehicle. I agree that if you are driving a lifted BroTruck Silverado Altitude Edition that yes, that is silly as a daily but that is regardless of children.
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Aug 19, 2014 02:16
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oxsnard posted:People who have kids and buy pickups for a daily driver are, themselves, literal children. Jesus Please, that's what the crew cab is for.
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Aug 19, 2014 02:32
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oxsnard posted:People who have kids and buy pickups for a daily driver are, themselves, literal children. Jesus The truck is a crew cab tho, so it's easy to toss the kid in the back! Kyoon - the mods include a sweet lift and phat tires. That cost like 6mo of his past discretionary monies. He only took out enough life insurance to pay off the mortgage (3x salary, not 10x) cuz the payment was too much. I r so confused  people are bad with money.
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Aug 19, 2014 02:32
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oxsnard posted:Yeah it's terrifying the disconnect from people's salary to car price. I make six figures and it still scares me that I bought a 12k Kia. Their car purchasing decisions were 100% about their image. It was ludicrous. And to make things worse they were all young, dumb drivers with terrible driving records, which meant that their insurance was sky-high to begin with. melon cat fucked around with this message at 03:25 on Aug 19, 2014 |
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Aug 19, 2014 03:14
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melon cat posted:Many years back, I used to work some entry-level position that paid about ~$35K. A lot of my co-workers who earned the same amount of money as I did drove leased/financed Audis and Bimmers because they thought it made them look like bigshot bankers. One of them even bought a Cadillac CTS. And when it was lunch time they'd buy a coffee for lunch because it was all that they could afford. The best part is that I've worked closely with people for over a year and still didn't know what they drove. So plenty of people don't notice, and most of those who do probably don't care. canyoneer fucked around with this message at 03:46 on Aug 19, 2014 |
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Aug 19, 2014 03:26
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KYOON GRIFFEY JR posted:I don't really see the issue if it's in use regularly for other purposes. Like if you are a general contractor, it makes much more sense to buy a pickup and just use the one vehicle. What I don't get is the ~Luxury Pickup~. I saw a Lincoln Pick up the other weekend. I mean, sure it looked nice, but why would you get a pick up truck that you wouldn't' ever want to get dirty or scuff up? Isn't that paying tons of money for a super nice interior that is just really small?
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Aug 19, 2014 04:31
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Jastiger posted:What I don't get is the ~Luxury Pickup~. I saw a Lincoln Pick up the other weekend. I mean, sure it looked nice, but why would you get a pick up truck that you wouldn't' ever want to get dirty or scuff up? Isn't that paying tons of money for a super nice interior that is just really small? Towing - boat or horse trailer. Not all pick-ups are work trucks.
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Aug 19, 2014 06:12
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Engineer Lenk posted:Towing - boat or horse trailer. Not all pick-ups are work trucks. A lot of other people thought it was weird too, which is why they don't sell them anymore. And there are plenty of pick up trucks that people don't get dirty or scuff up, even the "work truck" models. I always thought it was weird to buy a Lincoln truck because there are some really swanky interior packages for F150s these days
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Aug 19, 2014 06:42
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Engineer Lenk posted:Towing - boat or horse trailer. Not all pick-ups are work trucks. Yeah, it would be even more awesome if the guy bought the $35k truck to tow the $50k boat he bought the previous weekend, right?
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Aug 19, 2014 07:04
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