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Old 06-27-2016, 11:23 AM  
DaFace DaFace is offline
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Personal finance and investing megathread extravaganza

I know lewdog (and maybe others) have mentioned the desire to have a place to chat about personal finance stuff. We'll see if there's enough interest to keep this going in the long-term, but at least for now, here's a place to chat about whatever personal finance topics come up.



If you're just getting started thinking about saving and don't know where to begin, this flow chart can help. Ask for advice in the thread for more help!

Last edited by DaFace; 01-24-2018 at 03:49 PM..
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Old 01-28-2018, 09:48 PM   #1636
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Thanks for the advise guys

My issue is just the length of the payout. I feel like I can still be putting into retirement but I’m just feeling like maxing the debt repayment works better mentally for me.

Getting those done in that short of time will free up so much capitol I feel the gains I can make then will make up for it
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Old 01-28-2018, 09:58 PM   #1637
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Thanks for the advise guys

My issue is just the length of the payout. I feel like I can still be putting into retirement but I知 just feeling like maxing the debt repayment works better mentally for me.

Getting those done in that short of time will free up so much capitol I feel the gains I can make then will make up for it
With your cash flow, you're in an enviable position. I see a lot of doctors and others with high cash flow and high debt not strategizing at all, thinking their cash flow will take care off all their problems.

You're asking the right questions.
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Old 01-28-2018, 10:06 PM   #1638
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With your cash flow, you're in an enviable position. I see a lot of doctors and others with high cash flow and high debt not strategizing at all, thinking their cash flow will take care off all their problems.

You're asking the right questions.
Yeah, I知 trying.

My thought process is also that as my practice continues to grow I can hopefully make up for lost investing and retirement.

But we shall see

Mainly I知 just trying to stick to the plan we set a few years ago when I graduated. Now with this national guard thing opening up its opened a new door to shortening the replay considerably. Of course getting deployed and having to leave my practice would be devastating but it痴 a risk I知 looking to take
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Old 01-28-2018, 10:17 PM   #1639
Cornstock Cornstock is offline
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Yeah, I知 trying.

My thought process is also that as my practice continues to grow I can hopefully make up for lost investing and retirement.

But we shall see

Mainly I知 just trying to stick to the plan we set a few years ago when I graduated. Now with this national guard thing opening up its opened a new door to shortening the replay considerably. Of course getting deployed and having to leave my practice would be devastating but it痴 a risk I知 looking to take
As long as you're not completely foregoing investing at this point you will be in a good position. Compound interest is incredibly powerful, and it is almost impossible to match it's power in only a few years preceeding retirement.

Especially when there are so many variables in those last few years of employment-we can't know what the market situation is at that point, and the prudent approach is to shift to a more conservative portfolio to mitigate the possibility of loss of principle.

I am amazed almost daily by incredibly highly educated individuals who have too much hubris to consider all the factors involved.
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Old 01-28-2018, 10:25 PM   #1640
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Most of personal finance is about constantly taking steps in the right direction. Consult the chart linked in the OP, and do your best, but don't stress TOO much if some of those steps seem a long way off.
Yeah I知 going in the right direction, I just need to finish off my last bit of student loan debt this summer before I can add more. I really think I should avoid fiddling around with an open investing account and put all of my resources towards my compound interest accounts like the Roth IRA.
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Old 01-28-2018, 10:29 PM   #1641
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Yeah I知 going in the right direction, I just need to finish off my last bit of student loan debt this summer before I can add more. I really think I should avoid fiddling around with an open investing account and put all of my resources towards my compound interest accounts like the Roth IRA.
Yeah, that's typically recommended. Get some boring, safe retirement accounts going before you start playing with anything that's intended to bring in income.
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Old 01-28-2018, 10:30 PM   #1642
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In the coming 12-18 months I foresee market returns exceeding 10%, so it would be economically smarter to be investing over that period, and revisit your strategy afterwards.
Sure, but be careful with that kind of thinking. You may THINK they'll exceed 10%, but it's never out of the question you could lose money instead. It's worth tempering your expectations either direction rather than just assuming that it'll go the way you believe it will.
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Old 01-28-2018, 10:35 PM   #1643
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Sure, but be careful with that kind of thinking. You may THINK they'll exceed 10%, but it's never out of the question you could lose money instead. It's worth tempering your expectations either direction rather than just assuming that it'll go the way you believe it will.
Right, it is conjecture to forecast the market. I'll differ to people who know far more than I on the subject.

Read this today: https://www.cnbc.com/amp/2018/01/28/...-jpmorgan.html

I like to think JPMorgan knows what they're talking about. But at the same time, don't bet the farm on a forecast.
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Old 01-29-2018, 03:02 AM   #1644
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I don't even understand why you would have to go to college to be a dentist. I mean all you do is tell people to open their mouths and then you just clean their teeth and if you find holes in their teeth you drill them out and pack shit in the hole. Not rocket science.
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Old 01-29-2018, 06:04 AM   #1645
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I just opened this thread for the first time today, and read a few pages.
So here's my story and question

I worked in a factory for 18 years, since the day I turned 18. I put 7% of every paycheck into a 401k, company matched 3-5 % for 3/4ths of that time (It was mind blowing how many co workers didn't put anything in, I tried to convince them to at least do 3% to get the company to match) anyway, I decided in May last year to quit. I moved my family across the state to work for my father in law, with the plan to take his place when he retires.
So I roll over my 401k to an IRA, both at Fidelity. I immediately notice that I have a ton more options in what to invest in with an IRA. Not only are there way more mutual funds to choose from, but from what I think I understand, I can invest in individual stocks if I want to.

So from June to December this past year I only invested $200. Because we were paying all the bills of a house we were trying to sell, plus building a new house where we moved to. With my IRA I gained almost $20k in that 6 months with only investing $200. For the year I gained almost $30k.

I was talking to my Dad the other day, and we both talked about how great our 401k/IRA's had done this year, and he said, yeah but when is the bottom gonna fall out? And I joked that I had thought of moving all my investments to bonds before it happened. And he said he was thinking seriously about doing that, because he's almost 60, I'm only 36. He's already almost lost everything once before from the housing market and he had to see friends work years past retirement because of it.

So thats the question, are you guys worried at all about the bottom falling out, or are you still watching the DOW climb to new heights ever day?
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Old 01-29-2018, 07:20 AM   #1646
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Originally Posted by wheeler08 View Post
I just opened this thread for the first time today, and read a few pages.
So here's my story and question

I worked in a factory for 18 years, since the day I turned 18. I put 7% of every paycheck into a 401k, company matched 3-5 % for 3/4ths of that time (It was mind blowing how many co workers didn't put anything in, I tried to convince them to at least do 3% to get the company to match) anyway, I decided in May last year to quit. I moved my family across the state to work for my father in law, with the plan to take his place when he retires.
So I roll over my 401k to an IRA, both at Fidelity. I immediately notice that I have a ton more options in what to invest in with an IRA. Not only are there way more mutual funds to choose from, but from what I think I understand, I can invest in individual stocks if I want to.

So from June to December this past year I only invested $200. Because we were paying all the bills of a house we were trying to sell, plus building a new house where we moved to. With my IRA I gained almost $20k in that 6 months with only investing $200. For the year I gained almost $30k.

I was talking to my Dad the other day, and we both talked about how great our 401k/IRA's had done this year, and he said, yeah but when is the bottom gonna fall out? And I joked that I had thought of moving all my investments to bonds before it happened. And he said he was thinking seriously about doing that, because he's almost 60, I'm only 36. He's already almost lost everything once before from the housing market and he had to see friends work years past retirement because of it.

So thats the question, are you guys worried at all about the bottom falling out, or are you still watching the DOW climb to new heights ever day?
At 36 I wouldn稚 think twice about it. At 60 yeah. He should move at least some out now.
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Old 01-29-2018, 09:35 AM   #1647
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I don't even understand why you would have to go to college to be a dentist. I mean all you do is tell people to open their mouths and then you just clean their teeth and if you find holes in their teeth you drill them out and pack shit in the hole. Not rocket science.

You're now on O. City's shitlist.
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Old 01-29-2018, 09:38 AM   #1648
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At 36 I wouldn’t think twice about it. At 60 yeah. He should move at least some out now.
This! and HTF you make $20K off of $200? What'd you invest in?
Hell! I have $200 for you to invest for me.
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Old 01-29-2018, 11:23 AM   #1649
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Originally Posted by wheeler08 View Post
I just opened this thread for the first time today, and read a few pages.
So here's my story and question

I worked in a factory for 18 years, since the day I turned 18. I put 7% of every paycheck into a 401k, company matched 3-5 % for 3/4ths of that time (It was mind blowing how many co workers didn't put anything in, I tried to convince them to at least do 3% to get the company to match) anyway, I decided in May last year to quit. I moved my family across the state to work for my father in law, with the plan to take his place when he retires.
So I roll over my 401k to an IRA, both at Fidelity. I immediately notice that I have a ton more options in what to invest in with an IRA. Not only are there way more mutual funds to choose from, but from what I think I understand, I can invest in individual stocks if I want to.

So from June to December this past year I only invested $200. Because we were paying all the bills of a house we were trying to sell, plus building a new house where we moved to. With my IRA I gained almost $20k in that 6 months with only investing $200. For the year I gained almost $30k.

I was talking to my Dad the other day, and we both talked about how great our 401k/IRA's had done this year, and he said, yeah but when is the bottom gonna fall out? And I joked that I had thought of moving all my investments to bonds before it happened. And he said he was thinking seriously about doing that, because he's almost 60, I'm only 36. He's already almost lost everything once before from the housing market and he had to see friends work years past retirement because of it.

So thats the question, are you guys worried at all about the bottom falling out, or are you still watching the DOW climb to new heights ever day?

I'm worried about it. The run can't continue forever, and if it's growing faster than the historical average it'll most likely correct to the historical average over time. That implies a period of underperformance in the future.

I've been trying to figure out a way to diversify for a while now. But what do you buy? Real estate? Collectibles? Real estate seems like a reasonable option, but it also involves work to manage unless you're investing in someone's company, and that makes me nervous for other reasons. I'd ponder collectible things, but I don't know enough about anything to be knowledgeable, so I'd get my lunch eaten.

I could do bonds or something, and I probably should, but they seem to have a limited upside and a high chance of doing little or nothing. I really need to learn more about them and other investment vehicles. I'm pretty much a one-trick pony with stocks.

Therefore, I stay in the market and just hope that the upside is strong enough that it evens out with the eventual downside.
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Old 01-29-2018, 11:25 AM   #1650
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