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No, that is genuinely the truth. Long term investments usually take on more risk to get more reward over time, because since you are planning to keep them around for a long time, short term dip is just  , as long as the long term trendline goes up.
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Nov 7, 2021 19:50
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Blink's answers are genuinely funny though.
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Nov 7, 2021 19:51
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Xarn posted:No, that is genuinely the truth. Long term investments usually take on more risk to get more reward over time, because since you are planning to keep them around for a long time, short term dip is just It's way more complicated than this though. "Long term investments are riskier" is a really bad thing to say because in a vacuum people reading that might become scared and interpret it the very wrong way. I don't want to derail the thread even further though! I just want Blink to enjoy their retirement!
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Nov 7, 2021 19:53
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i just dont understand how he's going to cash out his prince and princess portfolio in twenty years. those things lose half their value as soon as you swoop them from the keep
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Nov 7, 2021 19:57
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I understand that people want to beat the market and stuff (lol) but you don't even need to think about risk beyond using a 3-funder and rebalancing every "2-3" years or so.
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Nov 7, 2021 19:58
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e: wow my first double post in as long as i can remember 
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Nov 7, 2021 19:58
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Good Will Hrunting posted:I understand that people want to beat the market and stuff (lol) but you don't even need to think about risk beyond using a 3-funder and rebalancing every "2-3" years or so. Yeah this is basically what I'm doing now plus keeping probably quite a bit more cash on hand than I'm sure I actually need to. But, money terrifies me because I was pretty poor for a while and never learned how to do any money management stuff except balancing a budget and now here I am almost 40 with a decent income and it's just "yikes, don't make any mistakes".
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Nov 7, 2021 20:25
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cash position is still a position, welcome to the despair of the market
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Nov 7, 2021 20:29
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I've got way too much cash in savings, too, for a similar reason. Just still terrified after a childhood of my parents pushing their poor money management onto us kids.
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Nov 7, 2021 20:31
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every modern central bank maintains a policy of slight inflation to punish people like you, there's the rub this year it isnt very slight, so i guess you're being paid like 5% of your cash position (or stopping paying the 5% inflation) to figure out where to put it so it doesnt get inflated away
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Nov 7, 2021 20:44
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Yeah cash is 100% a position and it's a pretty "bad" one with the way inflation has swung but it's very hard to shake conditioning like that. We had that lucky streak where savings accounts were like 2.25%! The recent glory days! But really I get it. The computer touched market also seems way too hot and inflated right now.
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Nov 7, 2021 20:45
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Blinkz0rz posted:What do you think your (or the average MANGA employee itt) retirement fund looks like? I would hope all fangers are taking advantage of voluntary after tax contributions and hitting the 415c limit
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Nov 7, 2021 20:56
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tortilla_chip posted:I would hope all fangers are taking advantage of voluntary after tax contributions and hitting the 415c limit
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Nov 7, 2021 21:08
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Presto posted:I have no idea what this even means. Max your retirement savings to the limit of tax benefits. There's a certain point, $150k or so where it helps to think about ways to reduce adjusted gross income. Retirement savings and children's tuition accounts, etc. At that point, depending on cost of living, you could consider saving a lot harder.
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Nov 7, 2021 21:21
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Rocko Bonaparte posted:Post-late-stage capitalism insurance company hitmen. They will fit your 85-year-old rear end in around all the people with lifetime warranties they have to kill. what do you think covid-19 is for? 
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Nov 8, 2021 01:21
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Presto posted:I have no idea what this even means. Your 401k has a pre-tax/roth limit of $19,500 ($20,500 in 2022) known as the 402(g) limit There is a separate limit of $58,000 ($61,000 in 2022) which is the 415 limit, this limit includes your pre-tax/roth contributions, and your companies contributions. Some 401k plans allow you to also make after tax contributions to your 401k up to the 415 limit. So the total of your tax advantaged contributions, your company match, and your after tax contributions can be $58,000. Currently, the after tax portion of that can be converted from after tax to Roth so that you can gain additional tax advantaged space (called mega-backdoor). Although if the current version of BBB passes that will no longer be an option starting in 2022.
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Nov 8, 2021 02:21
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Presto posted:I have no idea what this even means. We are hosed as a society  Edit: you have a reg date before 2010 
Hadlock fucked around with this message at 02:50 on Nov 8, 2021 |
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Nov 8, 2021 02:32
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Hadlock posted:We are hosed as a society “Forums poster doesn’t know every arcane rule to avoid paying taxes in America” is a straight line to society being hosed, yep that makes sense
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Nov 8, 2021 02:41
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Hadlock posted:We are hosed as a society Yeah because of this: ultrafilter posted:If you have a chance at retiring at all you're doing pretty well. not "not knowing how to backdoor".
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Nov 8, 2021 02:46
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I figured it would only take so long before the oldie programmers start discussing how and when they are most likely to die.
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Nov 8, 2021 02:50
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csammis posted:“Forums poster doesn’t know every arcane rule to avoid paying taxes in America” is a straight line to society being hosed, yep that makes sense 1) this is a highly technical thread 2) most people in this thread are in the top 3%, or at least top 7% If posters in this thread don't understand basic tax loopholes that apply to them, society as a whole is hosed because that means less technical members of society are probably doing even less research on saving money
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Nov 8, 2021 03:04
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Hadlock posted:1) this is a highly technical thread This thread had less bad opinions when oliveoil was posting.
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Nov 8, 2021 03:08
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Thanks for fixing that
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Nov 8, 2021 03:11
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Hadlock posted:1) this is a highly technical thread The median 65 year old has $64,548 in their 401k and even the average is only $216,720, so yes we are absolutely hosed as a society.
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Nov 8, 2021 03:13
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Hadlock is a regular in the stock gambling thread, of course they are like this. I lurk there too so I can't talk.
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Nov 8, 2021 03:14
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We're all glorified bureaucrats here, whether you're poking at computer code or tax code it's unforgivable not to know the ins and outs from birth. Now can you please derive the backdoor mega roth from first principles on this whiteboard in the next 10 minutes so I'm not late for my next meeting?
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Nov 8, 2021 03:22
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Hadlock posted:1) this is a highly technical thread People who think about tax should probably be sent to jail.
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Nov 8, 2021 03:25
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Eggnogium posted:This thread had less bad opinions when oliveoil was posting. Sorry, are you proud of the level of tax education in this country?
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Nov 8, 2021 03:30
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Hadlock posted:Sorry, are you proud of the level of tax education in this country? The tax laws are designed to give breaks to people who can afford to pay accountants to navigate them professionally. Yes, there are also some nerds who take it on themselves to learn it themselves. If the education was better it would defeat the point and they’d make it even more complicated.
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Nov 8, 2021 03:44
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Hadlock posted:We are hosed as a society Sorry I'm causing civilization to collapse because I'm not studying the IRS code. Presto fucked around with this message at 03:48 on Nov 8, 2021 |
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Nov 8, 2021 03:46
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I put all my monies in a 420(69)
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Nov 8, 2021 03:51
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CPColin posted:I put all my monies in a 420(69)
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Nov 8, 2021 03:53
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Hadlock posted:1) this is a highly technical thread You're kinda right in that financial literacy is important but as an example Amazon introduced the mega backdoor Roth, 10% cap of your base salary, with exactly zero fanfare just a year or two ago. No one knows about it. More generally it's pretty esoteric stuff and applies to a tiny fraction of people who hit the 19.5k cap in the first place. Doctors have been financial idiots as a class for decades and somehow society is still ticking. There's room in the club for computer touchers to kill themselves in plane crashes and invest in restaurants too.
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Nov 8, 2021 03:54
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Doctors as a class of people are largely people who 1) come from background/family that can support them while they are economically unproductive for long periods of time memorizing stuff 2) are capable of successfully memorizing stuff for tests There's very little overlap in the brain between the reasoning and memorization regions Engineers and doctors don't seem have a lot of overlapping hobbies/social groups despite similar levels in income
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Nov 8, 2021 04:06
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a lot of engineers don’t care, op
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Nov 8, 2021 04:15
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Good Will Hrunting posted:The computer touched market also seems way too hot and inflated right now. I'm not an Oldie, but it seems this way to me too and I'm very worried about the future of this career. I always read stupid poo poo like - oh actually ninety percent of people are incapable of programming - oh actually most programmers are bad - oh *suspicious economic explanation*. But from my extremely uninformed perspective it seems to me that, in the right state of mind, programming is at least straightforward and that most programmers don't need to be poets - and so the salaries make no sense. I probably would program if it paid nothing, but would I dedicate myself to it to the degree that I do and get into 50k of debt if at the end of it all I can get is a terrible job that pays 50k? I have to assume that there's a space for people who are interested in high-end computer science and software, and that those people will always be paid well, but how do I get there most efficiently? Well it's take out loans so I can afford to study full time, get a high paying job, take a year off here and there to aggressively study and write software. But what if I get sick and can't pay off the loans? Agh.
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Nov 8, 2021 04:25
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programmers get paid a lot because being able to program is basically a superpower in our current era. everyone wants everything available instantly via their smart phone and there's a massive push to automate basically everything because human labour is expensive and unreliable. we're nowhere near peak tech imo
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Nov 8, 2021 04:41
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Hadlock posted:There's very little overlap in the brain between the reasoning and memorization regions The easiest way to figure out stuff like this is to measure bumps on the skull
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Nov 8, 2021 04:42
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awesomeolion posted:The easiest way to figure out stuff like this is to measure bumps on the skull this is dumb. you thump the noggin a couple times and then give it a sniff
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Nov 8, 2021 05:08
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My nana said you could tell if the brain was good by balancing a straw on it and seeing which way it turned. Pop pop used a forked stick to find where in a man’s brain to trepanate for good opinions he never found any
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Nov 8, 2021 05:40
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