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People not being able to afford arbitrarily-priced TB or malaria drugs isn't a law of nature bud. But why is this even being discussed here?
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Nov 5, 2013 21:13
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baw posted:It's VHDYX, and I'd like to put another 50k into it every year, and I'm keeping the bank account steady at 30k. Is there somewhere else I can put it for a higher yield? Higher yield comes with higher risk so it would seem to me if you're looking to need the money in 4-5 years you should be looking for pretty low-yield, low-risk vehicles.
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Apr 1, 2014 16:50
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semicolonsrock posted:I don't know, I think that I would rather volunteer than donate money. It seems more satisfying to me, and given the disconnect between one's salary and the actual value of one's skills it seems like it's arguably more helpful if you're doing work you're good at. In theory, but you can't roll up your sleeves and make clean water and tuberculosis drugs for third-world children. And the fact you can't help all of them doesn't mean you shouldn't help any of them.
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May 8, 2014 15:35
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Guinness posted:You're overthinking it. If you're on an individual HDHP you can contribute $3300 maximum to an HSA for 2014. If you're on a family HDHP you can contribute $6550 maximum to an HSA in 2014. Yeah but he's on a different plan than his wife from what I can tell.
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May 20, 2014 17:24
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Eyes Only posted:Found it here. The figures are old, but pretty clear that you can't double-dip with respect to deposits. The more I learn about tax law, the more It's all about the circumstances though. Generally the circumstances where it becomes a disadvantage, both people are well off(and thus *should* be very comfortable due to pooling resources). MY FIANCEE and I are at about 90kish AGI, but about 80k of that is from me. After we're married, I'll go from having the majority of my income taxed at 25% to having none of it taxed at 25%. Which is nice. If she finally gets a career off the ground at some point, her raises will disappear under a mountain of taxes though.
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May 20, 2014 17:53
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I am about the number of instances where being married is a tax disadvantage.
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I don't understand his rationale that "it can't be a troll because less people read this site than reddit!" You have been featured on TV and multiple mainstream websites and your site periodically chokes to death temporarily despite claiming you're dumping a lot of money on servers. You're not underground dude. It's an obvious troll.quote:Also, it turns out that I react with irrational anger towards abbreviations like DH = Darling Husband. I don't know why. I hate DH as well and for awhile wondered if it was some euphemism for some other kind of partnership arrangement before I knew what it stands for. Just pretend it stands for designated hitter, that's what I do.
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Jul 18, 2014 18:37
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canyoneer posted:I work in finance. I could do my taxes by hand. But because I work in finance, I understand opportunity cost. The opportunity cost of me spending a few hours doing it when I could instead be doing something I enjoy in my leisure time makes me happy to pay the $30 or whatever to have TurboTax do it's thing and file for me electronically. It varies depending on the situation though. Yeah TurboTax is $30 and saves a few hours. I don't work in finance, but I could probably do it myself in a few hours as well and save that $30 because I usually estimate my refund by hand in 20 minutes a month or two before and come within 10% of the correct amount. But for $30 to save me three hours and be sure I didn't gently caress it up, yeah. I don't care about thirty bucks that much. But for example recently I've been repainting and repairing drywall in my condo, and after doing essentially 5 rooms I've spent like $400 and a few weekends - and I had never painted before. Now I kind of know what I'm doing. Had I paid someone else, the whole thing would've cost about 3k conservatively, and while it's my own spare time I'm giving up, I couldn't have been making more money during that time, at least at present. That 2500 bucks invested comes out to a lot over time, and now I have the skills where unless I'm filthy rich when it's time to paint my next home, I can once again save thousands of dollars. It's saving like $75 per hour in my area instead of $10 per hour. That said, earlier this year I paid to have a car window actuator and strut mounts replaced. I do not have the confidence that I could gain those skills in a timely fashion without killing myself or needing to call in someone else and pay them even more money. If I already had unlimited time like MMM, sure I could probably figure out how to do advanced auto repairs. I think he has trouble putting himself in other peoples' shoes when he talks about stuff like that. Nail Rat fucked around with this message at 15:47 on Nov 20, 2014 |
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Nov 20, 2014 15:30
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Am I missing something? The last post is his end of year fiscal report which he does every year.
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Jan 21, 2015 18:19
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BossRighteous posted:Maybe we can agree that Pre-Ordering a new game is dumb for a variety of reasons. The best is pre-ordering a new console game digitally.
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Feb 12, 2015 19:26
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Blackjack2000 posted:Those seem to be the things people say they will do when they retire (or achieve FI) and leave their careers. What I'm saying is that those things won't replace a full time occupation. They don't place demands on you. I think that's extremely important. Your job places demands on you, your kid places demands on you. You're needed. I think that's important. So start your own business on your own schedule with your own vision with employees who depend on you for pay and whose compensation you set.
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Mar 3, 2015 14:50
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The assertion that most people are ill-informed on everything and the best people are still ill-informed on many things is pretty true though. I don't like the solution of "just don't vote" though because then the agenda of the rich and powerful runs completely unchecked.
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Mar 5, 2015 17:17
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BossRighteous posted:Do people really pay off houses? I feel like most people I've met move every 6-10 years and take out a fresh 30yr every time. Well most people don't pay off houses but most people have more credit card debt than they have retirement savings. Don't be most people.
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Mar 8, 2015 22:42
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In the future I'll probably try to pay down mortgages as fast as possible, just because the more above-water a mortgage is, the more liquid your moving ability is if anything happens. I got stuck living somewhere I didn't want to live for five years and I'm never letting that happen again.
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Apr 9, 2015 18:53
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I've enjoyed some of his case studies in the past, at this point I think more of those are about the only thing that I would find worth reading that he could do. Sadly he doesn't really do them anymore. It'd be fun to see one from someone who made minimum wage, someone who's 100k underwater on a home and needs to move, etc. He could even just make them up and work through the situation. The case studies he's done have been good reads but they've kind of been from people in good situations who can follow his standard advice pretty easily. I'd like to see him challenged a bit. "Just move closer to work and bike!" doesn't work if you're super underwater on a home to the point you literally cannot sell, and maxing your IRA is tough when you're flipping burgers, so it'd be interesting how he'd approach it. Nail Rat fucked around with this message at 14:14 on May 8, 2015 |
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May 8, 2015 14:12
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Not a Children posted:there are some situations where there are no easy answers other than "develop skills that will get you more money." Or in the mortgage situation, tough it out or rent it out. But it'd be interesting to see how he would put together a McDonalds worker budget, and if he'd find a way to get IRA contributions in there.
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May 8, 2015 14:29
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There shouldn't be any penalty for rolling it into a Roth IRA right now, which is what I'd do unless his 401k offers expense ratios that are better than what you could find elsewhere, i.e. Vanguard direct.
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May 14, 2015 22:04
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Stephen Hawking contributes to society 
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Aug 4, 2015 13:29
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It smells to me very much like "stop taxing the rich, and let them donate to the causes they believe in!" Which definitely did not happen after the gigantic tax breaks they got in the past few decades.
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Aug 4, 2015 19:29
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NoDamage posted:That's debatable. The article says he "retired" at 30 with $600k and $24k/year in annual expenses. Without the extra income from the blog I would consider that pretty risky. He also makes money doing carpentry stuff, he just doesn't have a set schedule or need to work regularly to pay the bills. Also 600,000 is a bit misleading as he owned his home outright and I think they may have even owned a rental property at that point. Nail Rat fucked around with this message at 13:42 on Feb 23, 2016 |
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Feb 23, 2016 13:37
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Yeah if anything it's just a stronger argument for what he advocates for. He has the time to pursue something like that because he was disciplined (and lucky in career choice/timing obviously) and now doesn't have to rent out his time for $40-$60 per hour to some dumb company that he relies on for food and shelter.
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Feb 23, 2016 17:06
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On the other hand, with housing costs of about $500 a month, even if they both lose their jobs, unemployment will allow them to live fairly comfortably without cutting into their emergency fund at all.
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May 5, 2016 21:25
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Definitely get your AC serviced before you waste several thousand replacing it. I had a very specific HVAC unit in my condo that would have cost about 8k to replace. The unit was over 40 years old. I was still getting it by with $130ish preventative service calls here and there. Sometimes a part needed to be replaced and it would run a couple hundred, but sometimes not.
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May 16, 2016 19:35
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You could probably do a solo 401k, not sure if you'd need to set up an LLC or something for that though.
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Jul 17, 2016 02:28
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OctaviusBeaver posted:You can get a duplex or triplex in my city in a decent area for around $300,000, compared to a single family home for about $200,000 in a somewhat nicer area. I've been thinking about buying a house anyway but was considering going for a duplex or triplex and renting out the parts me and the wife aren't using. Then eventually save up enough for a down payment on a single family home and using the whole building as a rental property. Anybody have experience doing something like that? I thought a rental property might be a good way to hedge against the lower long term growth in the stock market compared to the last century. You can do that with REITs with fewer headaches.
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Jan 18, 2017 01:20
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shrike82 posted:Sorry, I just found the two scenarios you set up kinda funny - 250K household or a millionaire making 30K. I'd say it's pretty common...for people whose parents were/are millionaires.
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Mar 21, 2017 17:36
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Dude still netted 9k in his wardrobe change, I'd say he can afford a couple of stupidly expensive pairs
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Apr 19, 2017 19:42
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GoGoGadgetChris posted:Sort of... It's still implied that he took a serious bath overall. He says he spent $25,000 in one year alone! Okay yeah I missed that part, my bad. I didn't feel like reading about him jerking off over clothes for five pages and skipped to the figures part. Although yes I would say you netted 5k in that scenario starting from the status quo of you owning the 25k car outright, and if the 15k car is going to have the same or less in maintenance costs.
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Apr 19, 2017 20:58
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The conventional wisdom on HSA is if you can pay for it out of pocket, do so, because (assuming you're maxing it) you'll never be able to replace that money and get tax-free gains on it. Of course, over $1000 is a lot for a lot of people. Even though I theoretically could pay for that out of pocket, it'd be hard to swallow in practice. edit: this has reminded me to finally invest some drat money in my HSA as I have 8k in there...my custodian charges $7.50 (plus 9 basis points per $1000) each quarter which really sucks. But at least I can dump 5k in a Vanguard target fund and pay a little under a 1% premium effectively. If I ever get up to 15k or so in the investment portion, it'll only be about as usurious as a 401k!  I wonder how many people invest before the 5k threshold in this plan...even at 5k - 0.96% custodian fees annually - it's pretty bad. At 1k, it'd be 3.36% 
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May 8, 2017 15:42
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When I say conventional wisdom, I mean of the BFC/Bogleheads variety, as the money will have grown considerably by retirement - as will your healthcare costs.
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May 8, 2017 17:57
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khysanth posted:annual/lifetime out-of-pocket limits It's my understanding that insurance companies work very hard to circumvent these limits.
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May 15, 2017 20:04
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I'd need to see more numbers - complete assets, debts, monthly costs, income - to give my own non-expert opinion but I would guess you have a chance. Does your wife work? If not, will she go back one day? Will you advance in your career to higher income ranges at some point?
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May 25, 2017 18:38
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If your wife doesn't want to work and needs to have a new car to the point she won't consider giving it up, that's going to make things difficult because if that's the mindset when you have a pretty big debt load, it's probably not going to improve as debts are paid off, even if they're replaced by new ones. If you want to retire before you're 65, you should probably start with finding out if she wants you to retire before 65 and be able to enjoy more free time together after your kids are grown and out of the house. If she does, she might need to change some of her priorities. I don't like everything Mr. Money Moustache says, but for example, I like his phrase of looking at it as buying your freedom. Is that worth more than a nicer car? That's up to you, but to me it is. If she doesn't care if you work until you die, you're going to have problems. Early retirement requires you both to be on the same page unless you have separate finances, and since you're both spending your earnings, that's not possible (and since in a divorce separate finances magically become joined, I would say that even if you have separate finances plans on the timeline of "retirement" would be tenuous if both aren't on the same page). Nail Rat fucked around with this message at 18:58 on May 25, 2017 |
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May 25, 2017 18:54
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I'd really suggest thinking about talking to your wife about working again when the kids are old enough that she doesn't have to spend a lot of energy keeping them alive. 3 kids is going to be expensive any way you slice it, and so will 2 vehicles, even if they're paid off. More income is only one way to tackle the problem, but it's an effective one, especially because that's a big potential income boost sitting right there even if she was only earning say 30k.
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May 25, 2017 19:08
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Careful Drums posted:That seems a little extreme. The ageism thing in SF isn't as bad in Detroit - I've worked with plenty of people in their 40s and 50s. As have I, but with more and more moves towards software/IT as a service and automation, it's hard to guess just how many developers are going to be needed in 25 years. I've made it a priority to be ready to hit the eject button in 20 years partly for that reason. Maybe it will never become an issue but if it does, I'll (hopefully) be able to be unaffected by it. Nail Rat fucked around with this message at 19:16 on May 25, 2017 |
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May 25, 2017 19:14
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BEHOLD: MY CAPE posted:Well the reason for that is most companies are accountable to shareholders or private investors for the money they spend on wages It's still shortsighted if you have a Level 3 position that you need to fill, and you have a Level 2 person who you try to get to do it but with Level 2 pay. You lose them to another company that will pay them Level 3 pay, and now you need to hire a Level 3 person at market value who has none of your institutional knowledge. Ultimately this scenario costs a lot more than just giving a market raise to the person receiving the promotion, but it plays out all the loving time.
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Sep 22, 2017 17:15
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pr0zac posted:
Cocaine will probably be more valuable in a year or so...
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Jan 25, 2018 16:32
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