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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Financial Goals 2020: Naming Rights to Thread Available
 
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Hoodwinker
Nov 7, 2005

uvar posted:

New: Actually start planning for retirement: The investing/retirement thread revealed to me that there are many things I didn't know that I didn't know. Time do some reading and calculating so I can take action that doesn't turn out to be extremely misguided in hindsight (e.g. those shares again).
Keep at this. There's weird goons like me always happy to help.

* # ¿ Mar 1, 2020 01:56
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# ¿ May 13, 2024 23:57
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Hoodwinker
Nov 7, 2005

KYOON GRIFFEY JR posted:

I think it might be helpful for you to measure how you blew your takeout/delivery goal, since that could help you prevent doing the same in the future. If you don't look in to it, it's hard to change behavior. for instance, how bad did you blow the goal? which weeks were bad? did you blow it every week or did you have on really bad week that caused you to miss? what kinds of stuff are you ordering? when are you ordering (weekends, weeknights, etc)? are there other correlations to other life events that have driven it (eg stressed at work, working late, etc)?

that's my 2 cents!
Reinforcing this suggestion. It's hard to make effective changes without looking at the data (you have to be gathering data) and understanding what it implies.

* # ¿ Mar 2, 2020 17:51
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Hoodwinker
Nov 7, 2005

DJCobol posted:

Updated 2020 Goals:

1) Don't die - so far so good
2) Stay employed - check
3) Don't check stock prices multiple times per day - Fail
4) Try not to cry - only crying a little
Yeah this is basically where I'm at. I got a new job late last year and thankfully I'm at a company that doesn't seem like it will need to do layoffs or pay cuts (meanwhile my last company just announced 5-15% pay cuts across the board). I'm adjusting how much I'm contributing to do some mega backdoor Roth stuff but that was actually more because of us just buying a house also and wanting to get our e-fund bolstered a bit than it was about the Plague. I figure if we just keep on trucking and I stay employed then we'll come out the other side of this just fine.

* # ¿ Apr 1, 2020 15:42
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Hoodwinker
Nov 7, 2005

PIZZA.BAT posted:

Yeah I'm more looking for another financial goal since everything I need is pretty much covered.
Honestly, being in a position like this is a pretty good reason to either buy a jetski or just dump it into investment assets to match your appetite and expected timeframe. If you don't need it for anything, then what does it matter if it's in equities being volatile?

* # ¿ May 21, 2020 23:30
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Hoodwinker
Nov 7, 2005

PIZZA.BAT posted:

I contributed while I still could but I'm over the income limit for that now
Have I got good news for you, my friend. There's no such thing as a limit if you've got no money in your Traditional IRAs.

* # ¿ May 22, 2020 02:27
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Hoodwinker
Nov 7, 2005

PIZZA.BAT posted:

Ok assume that I'm an idiot when it comes to this stuff. I thought that past the income limit it was an either/or situation. And since the 401k allows me to contribute way more that seems like the better option. Is that not right?
You can do both. If you have no money in any Traditional IRAs, you can contribute $X to a Traditional IRA as "after tax non-deductible" contributions, then immediately convert them into Roth funds. This is legal and cool. Google "Backdoor Roth IRA" or I'm sure somebody else will give you a more involved explanation.

* # ¿ May 22, 2020 02:36
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# ¿ May 13, 2024 23:57
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Hoodwinker
Nov 7, 2005

PIZZA.BAT posted:

Ooooh. Yeah I've heard of those but my mind immediately blanked it out because as soon as things start veering away from the very simple and straightforward investing strategy I have I assume it's a bad idea. I'll look into that
The good news is that it doesn't change your investment strategy, it's just another bucket to dump money into.

I do recommend you head on over to the long-term investing thread with further questions. It's a more trafficked thread and you'll get much more information in there.

Hoodwinker fucked around with this message at 02:50 on May 22, 2020

* # ¿ May 22, 2020 02:42
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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Financial Goals 2020: Naming Rights to Thread Available