Search found 613 matches

by MrBobcat
Sat Apr 10, 2021 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Do budgets work?
Replies: 114
Views: 4319

Re: Do budgets work?

Jags4186 wrote: Sat Apr 10, 2021 9:32 am
I always start a budget this way:
X = income
Y = goal savings
Z = X-Y = how much I have to spend
That's where I end my "budget".
by MrBobcat
Sat Apr 10, 2021 11:30 am
Forum: Personal Finance (Not Investing)
Topic: Do budgets work?
Replies: 114
Views: 4319

Re: Do budgets work?

This morning, I read a Tweet I found depressing: "In 13 years as a financial advisor, I've never seen anyone actually turn their life around with a budget. They either earn their way out of their spending habits, or they are in debt forever." Do you agree? I do agree. This advisor is most...
by MrBobcat
Wed Apr 07, 2021 8:56 am
Forum: Personal Consumer Issues
Topic: The $2000-$4000 Car :) This made me wealthy so jump on board
Replies: 249
Views: 17280

Re: The $2000-$4000 Car :) This made me wealthy so jump on board

I've preached for years the 2 controllable things people do that hurt their financial well being the most is spend too much on transportation and spend too much on housing.
by MrBobcat
Sat Mar 27, 2021 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: What is an average retirement a/c worth in America ?
Replies: 228
Views: 22355

Re: What is an average retirement a/c worth in America ?

I'm looking for some reassurance, and to better manage my expectations. My family's networth is less than a million (not counting my daughter's Coverdell). I see posts here from people in their 30s with 1.5 million in investments, people in their 20s with 6 figures in assets etc, "windfalls&qu...
by MrBobcat
Fri Mar 05, 2021 9:11 am
Forum: Personal Consumer Issues
Topic: Anyone ever tired of managing hair and consider shaving to go bald
Replies: 107
Views: 9067

Re: Anyone ever tired of managing hair and consider shaving to go bald

Here is what I use - https://www.amazon.com/Wahl-Professional-Balding-Clipper-8110/dp/B000VVT94G I used a pair of those for 8-9 years. Bought one of these this year and won't look back. https://www.amazon.com/OSTER-Classic-Universal-Clipper-76076010/dp/B00070E8LA/ref=sr_1_1?crid=GR0RID46XUTG&dc...
by MrBobcat
Fri Mar 05, 2021 9:02 am
Forum: Personal Consumer Issues
Topic: How to make strong coffee equivalent to Starbucks for cheaper?
Replies: 125
Views: 9609

Re: How to make strong coffee equivalent to Starbucks for cheaper?

Equipment: Burr grinder - Baratza Encore ($130) Kettle - Cuisinart electric kettle CPK-17 ($99) Brewer: Aeropress ($30) Use freshly ground beans. Starbucks uses medium to dark roasts. Even their blonde roasts are on the darker side. When you buy your beans, get light roasts. Lightly roasted beans r...
by MrBobcat
Wed Feb 24, 2021 9:31 am
Forum: Investing - Theory, News & General
Topic: Tesla stock price now tied to bitcoin price
Replies: 36
Views: 2989

Re: Tesla stock price now tied to bitcoin price

retiringwhen wrote: Tue Feb 23, 2021 10:57 am This is all going to end with the Feds entrapping Elon in a cocaine distribution deal to save his beloved company. :twisted:
Hey, maybe they'll use a Tesla in the next Back to the Future remake. :P
by MrBobcat
Wed Feb 24, 2021 9:28 am
Forum: Personal Finance (Not Investing)
Topic: Best decision(s) in your financial life
Replies: 167
Views: 13361

Re: Best decision(s) in your financial life

Living below my means, no matter how meager they were at times.
by MrBobcat
Sun Feb 14, 2021 1:38 pm
Forum: Personal Consumer Issues
Topic: how much do you budget car repairs/home repairs for?
Replies: 37
Views: 4723

Re: how much do you budget car repairs/home repairs for?

I don't, I just make sure I have enough in emergency funds to cover large unexpected expenses (furnace/water heater/etc.) For planned repairs, those that are not imminent, we save before incurring them (ie new cars, remodeling). Worst case scenario they can just go on the CC and be paid off over a ...
by MrBobcat
Sun Feb 14, 2021 1:31 pm
Forum: Personal Consumer Issues
Topic: how much do you budget car repairs/home repairs for?
Replies: 37
Views: 4723

Re: how much do you budget car repairs/home repairs for?

For car repairs? I don't bother to budget anything. We drive Toyota's and Honda's and I cant even remember the last time I had to do anything beyond annual oil changes or a brake job every 50k or so... I DIY so budgeting would be pennies a month. for the last 1.5 years i've done my own oil changes,...
by MrBobcat
Sun Feb 14, 2021 1:26 pm
Forum: Personal Consumer Issues
Topic: how much do you budget car repairs/home repairs for?
Replies: 37
Views: 4723

Re: how much do you budget car repairs/home repairs for?

I don't, I just make sure I have enough in emergency funds to cover large unexpected expenses (furnace/water heater/etc.) For planned repairs, those that are not imminent, we save before incurring them (ie new cars, remodeling). Worst case scenario they can just go on the CC and be paid off over a f...
by MrBobcat
Sun Feb 14, 2021 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Discovered fund shares & taxes/accounting
Replies: 54
Views: 1618

Re: Discovered fund shares & taxes/accounting

Bogleheads, I found out yesterday that, 23 years ago, a relative had bought me shares in an actively managed fund when I was a minor, with my mother as custodian. I also found out that my mother spent the last 23 years ignoring the tax documents that they sent. At this point, it has $1300 from a ba...
by MrBobcat
Sun Feb 14, 2021 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: 2020 Taxes - Owing MORE compared to last year
Replies: 20
Views: 1439

Re: 2020 Taxes - Owing MORE compared to last year

Your income went down $17,186, your withholding went down $6,538 which works to 38.04% ($6,538/$17,186). Being your marginal rates for Fed and State are less than 38% combined, of course the bottom line you owe is more. Fix your W-4s to have adequate withholding (or pay estimates).
by MrBobcat
Mon Feb 08, 2021 4:58 pm
Forum: Investing - Theory, News & General
Topic: The Power of Working Longer
Replies: 450
Views: 29227

Re: The Power of Working Longer

Keynes famously predicted we could be working 15 hour work weeks. I think we are seeing a variation of that. Instead of working 15 hour work weeks for 45 years careers, people are instead working 40+ hour work weeks for 30 year careers. Setting that aside, Keynes could have been right if more peopl...
by MrBobcat
Sun Feb 07, 2021 2:32 pm
Forum: Investing - Theory, News & General
Topic: "Roth or Traditional IRA: Which Should You Choose?"
Replies: 99
Views: 4921

Re: "Roth or Traditional IRA: Which Should You Choose?"

IDK what future tax rates will be so I'm diversifying account types. :wink:

Currently allocation 35/40/25 Tax Deferred/Roth/Taxable. I'm on a glide path to have approximately 50% in Taxable by retirement.
by MrBobcat
Sun Feb 07, 2021 10:05 am
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4545
Views: 227806

Re: [GameStop GME trading mega-thread]

I jumped on the thesis in early December at $16 and sold at $420. I am a 99% indexer to my core but my speculative fun money account went from 5k to 123k pretty quickly. Fun to be a part of the ride. I got super lucky with timing, and bought a bunch of YOLO call options for GME, AMC, and BB the Mon...
by MrBobcat
Fri Feb 05, 2021 9:26 am
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4545
Views: 227806

Re: [GameStop GME trading mega-thread]

elderwise wrote: Fri Feb 05, 2021 8:20 am In other news - GME is 60$ pre market and moon ing..

Pre pare for Phase II re-launch :D :D :D
Death rattles.
by MrBobcat
Fri Feb 05, 2021 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Copyright Infringement (Visual Arts)
Replies: 75
Views: 2833

Re: Copyright Infringement (Visual Arts)

IDK seems like a lot of drama and stress for $150. I'd just tell the guy nice painting and leave it at that.
by MrBobcat
Tue Feb 02, 2021 7:38 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4545
Views: 227806

Re: [GameStop GME trading mega-thread]

He's been posting portfolio updates almost daily for a year on this. It's definitely real and not photo-shopped if that's what you're saying. How can you possibly know it's definitely real? Because someone posted it on the internet? So someone who posted the same shares and option calls daily for a...
by MrBobcat
Tue Feb 02, 2021 7:17 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4545
Views: 227806

Re: [GameStop GME trading mega-thread]

Gadget wrote: Tue Feb 02, 2021 7:04 pm
He's been posting portfolio updates almost daily for a year on this. It's definitely real and not photo-shopped if that's what you're saying.
How can you possibly know it's definitely real? Because someone posted it on the internet?
by MrBobcat
Tue Feb 02, 2021 6:37 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4545
Views: 227806

Re: [GameStop GME trading mega-thread]

Dude lost $13.6M today. https://preview.redd.it/rr9n7obwq4f61.png?width=640&crop=smart&auto=webp&s=b4f19e9156e8dad31b94e7f6a5c34daf51a5a297 He should tax-loss harvest :twisted: That would be one heck of a wash sale thread. I'm thinking red-green color deficiency might not be enough to m...
by MrBobcat
Mon Feb 01, 2021 6:24 pm
Forum: Personal Investments
Topic: First post and need help
Replies: 22
Views: 1496

Re: First post and need help

PGIAX is a fascinating mutual fund: * It's in the bottom 5% of performance in each of the 10, 5, 3 and 1 year periods....(I'm not sure I've ever seen that). * It's top two holdings are Microsoft and Amazon....and it doesn't appear to have shorted anything like TSLA. * U.S. stocks. * There was a man...
by MrBobcat
Mon Feb 01, 2021 4:56 pm
Forum: Personal Consumer Issues
Topic: Any Minimalists on here?
Replies: 300
Views: 30273

Re: Any Minimalists on here?

Explain that one! Tony I don't spend a lot (relative), but I keep everything, lol. ie I still have paperbacks I bought 40+ years ago, I still have my childhood comic book collection, my matchbox car collection, etc... I have a hard time getting rid of anything. That is the opposite of frugal, it's ...
by MrBobcat
Mon Feb 01, 2021 11:14 am
Forum: Personal Consumer Issues
Topic: Any Minimalists on here?
Replies: 300
Views: 30273

Re: Any Minimalists on here?

I'm a frugal hoarder. :happy Explain that one! Tony I don't spend a lot (relative), but I keep everything, lol. ie I still have paperbacks I bought 40+ years ago, I still have my childhood comic book collection, my matchbox car collection, etc... I have a hard time getting rid of anything. That is ...
by MrBobcat
Sun Jan 31, 2021 8:10 pm
Forum: Personal Consumer Issues
Topic: Any Minimalists on here?
Replies: 300
Views: 30273

Re: Any Minimalists on here?

I'm a frugal hoarder. :happy Explain that one! Tony I don't spend a lot (relative), but I keep everything, lol. ie I still have paperbacks I bought 40+ years ago, I still have my childhood comic book collection, my matchbox car collection, etc... I have a hard time getting rid of anything. Frugal s...
by MrBobcat
Sun Jan 31, 2021 5:34 pm
Forum: Personal Consumer Issues
Topic: Any Minimalists on here?
Replies: 300
Views: 30273

Re: Any Minimalists on here?

I'm a frugal hoarder. :happy
by MrBobcat
Sat Jan 30, 2021 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Motivate Graduating HS Sr to Start Life - facing an uphill climb
Replies: 175
Views: 12595

Re: College financial aid - facing an uphill climb

Our oldest is 18, will graduate in a few months: - Not particularly interested in college, hasn't filled out any applications, didn't study for his SAT. Nonetheless will likely end up going somewhere but mostly because he hasn't taken steps toward anything else either. - He's @ 50th percentile in h...
by MrBobcat
Thu Jan 28, 2021 10:37 am
Forum: Personal Consumer Issues
Topic: Life in a quintessential college town
Replies: 44
Views: 5839

Re: Life in a quintessential college town

coalcracker wrote: Wed Jan 27, 2021 8:08 pm
Any unexpected/surprising negatives to living in a small college town?
A bit tongue in cheek... but college students.
by MrBobcat
Wed Jan 27, 2021 1:51 pm
Forum: Investing - Theory, News & General
Topic: PSA for 3 funds folks: Did you pass the "Buy, Hold, and Rebalance" Test on March 2020?
Replies: 135
Views: 4947

Re: PSA for 3 funds folks: Did you pass the "Buy, Hold, and Rebalance" Test on March 2020?

Yes, Yes, Yes. It was such a positive experience I'm looking forward to it happening again. ;)
by MrBobcat
Tue Jan 26, 2021 11:09 pm
Forum: Personal Investments
Topic: What to do with GME holdings?
Replies: 94
Views: 10384

Re: What to do with GME holdings?

I currently put 25% of my investments into individual stocks (75% is in VTWAX) and with GME I put in $1000 when it was at $20 so now it’s blown up to be a big portion of my portfolio. I had $3,000 in Robinhood now I’m at $13,500 within a month. I obviously don’t believe in GME but I know the power ...
by MrBobcat
Tue Jan 26, 2021 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Check your beneficiaries
Replies: 26
Views: 2817

Re: Check your beneficiaries

If you have life insurance policies check those too.
by MrBobcat
Mon Jan 25, 2021 4:44 pm
Forum: Personal Investments
Topic: Am I Going to Damage My Plan?
Replies: 24
Views: 1401

Re: Am I Going to Damage My Plan?

OP, We were almost exactly where you were 4-5ish years ago. Got the kids through college and shortly thereafter burned the mortgage. The bulk of that freed up money has been going into a taxable account since. If I were you I'd hold on till your DH retires and save every penny and put it into your t...
by MrBobcat
Sun Jan 24, 2021 5:13 pm
Forum: Personal Investments
Topic: Move my stock index funds to cash?
Replies: 17
Views: 5427

Re: Move my stock index funds to cash?

I just remembered this post from way back then, and thought I would update it. I was so sure that if the economy as a whole was headed for disaster, investors would run for the exits too, which they briefly did. I was scared that my whole life savings would go down the old drain. Everyone I asked s...
by MrBobcat
Sun Jan 24, 2021 1:28 pm
Forum: Personal Consumer Issues
Topic: Town A vs Town B
Replies: 75
Views: 5257

Re: Town A vs Town B

Wife and I differ on what has more influence on our kids - home life or the environment they grow up in. I'm more in the camp that environment and who you surround yourself with plays a bigger role. I'm worried staying in Town A will mean we are "settling" for what's currently comfortable...
by MrBobcat
Sun Jan 24, 2021 1:25 pm
Forum: Investing - Theory, News & General
Topic: ‘Frogs in boiling water’: Urgent warning for 50% market drop
Replies: 133
Views: 19069

Re: ‘Frogs in boiling water’: Urgent warning for 50% market drop

Billionaire Seth Klarman — whose letters to clients of his Boston-based fund Baupost Group are closely read on Wall Street — said the Fed’s pandemic-fueled policies of keeping rates close to zero have not stimulated the economy but instead sent the market flying beyond reason and made investors rec...
by MrBobcat
Sun Jan 24, 2021 1:23 pm
Forum: Personal Investments
Topic: Any boring investors left?
Replies: 223
Views: 13507

Re: Any boring investors left?

I like boring, suits my personality.
by MrBobcat
Sun Jan 24, 2021 1:17 pm
Forum: Personal Investments
Topic: I just bought individual stocks and a lot of them.
Replies: 218
Views: 17118

Re: I just bought individual stocks and a lot of them.

IDK about you, but keeping track of that many holdings would increase my stress level significantly. Why do you need to check them any more often than a ETF? Review it once a year, see if any don't meet your criteria enough to offset the tax implications of replacing them and then forget about them...
by MrBobcat
Sun Jan 24, 2021 1:03 pm
Forum: Personal Investments
Topic: I just bought individual stocks and a lot of them.
Replies: 218
Views: 17118

Re: I just bought individual stocks and a lot of them.

Guys, I cannot for any conscience keep investing in these markets which are extremely over valued. I wanted to buy globally diversified index fund and those are also over valued. Also I am not confident in the international markets either. So I just on an impulse liquidated my ETF holdings and star...
by MrBobcat
Sun Jan 24, 2021 1:00 pm
Forum: Personal Investments
Topic: I just bought individual stocks and a lot of them.
Replies: 218
Views: 17118

Re: I just bought individual stocks and a lot of them.

bertilak wrote: Sun Jan 24, 2021 12:05 pm
BolderBoy wrote: Sun Jan 24, 2021 11:59 am PS - is there something significant about the number '42'?
I think it's a secret! (https://www.independent.co.uk/life-styl ... 05734.html)
lol, someone beat me to it. I'm a fan of Douglas Adams books.
by MrBobcat
Sun Jan 24, 2021 12:58 pm
Forum: Personal Investments
Topic: I just bought individual stocks and a lot of them.
Replies: 218
Views: 17118

Re: I just bought individual stocks and a lot of them.

WILL THIS STRATEGY BLOW UP ON MY FACE, WHAT ARE THE HOLES IN WHAT I AM DOING? 1) Total Return trumps everything else (including dividends). 2) Very little diversification. What you are doing is MUCH riskier than simply owning VTSAX, for example (which captures any/all dividends that you are going t...
by MrBobcat
Sun Jan 24, 2021 11:40 am
Forum: Personal Consumer Issues
Topic: Town A vs Town B
Replies: 75
Views: 5257

Re: Town A vs Town B

To do well in school (and go to college and be successful in life) kids need to be challenged by other students who take education seriously. Town B. This is exactly my thinking. I did well in HS and went to a state university for undergrad but felt I could have achieved more. I was the most ambiti...
by MrBobcat
Sat Jan 23, 2021 3:57 pm
Forum: Personal Consumer Issues
Topic: Town A vs Town B
Replies: 75
Views: 5257

Re: Town A vs Town B

Town A doesn't preclude your kids from getting a good education nor does Town B mean they're going to get a good education. Who they choose as friends is important and I will say parents who value education will have kids who value education and will ultimately choose friends who value education. We...
by MrBobcat
Sat Jan 23, 2021 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Any (tax) CPAs make the switch solo-practitioner? How did it go?
Replies: 24
Views: 1947

Re: Any (tax) CPAs make the switch solo-practitioner? How did it go?

I'm not sure what to tell you as your expectations (less hours etc were so different from mine). Demographics (top heavy with relatively younger boomers) at time would have kept me as a peon for longer than I wanted even so I stuck it out for 9 years before buying out a retiring CPA in my hometown. ...
by MrBobcat
Sat Jan 23, 2021 1:56 pm
Forum: Investing - Theory, News & General
Topic: 2nd million is easier!
Replies: 193
Views: 46839

Re: 2nd million is easier!

I have two children (about age 30) and want to encourage them to save (they both make about 60K a year) but as we know "unsolicited advice is a form of aggression" (that is how advice is often interpreted) they have shown some interest in the stock market (Robinhood, Tesla, etc) but haven...
by MrBobcat
Thu Jan 21, 2021 10:59 am
Forum: Investing - Theory, News & General
Topic: 2nd million is easier!
Replies: 193
Views: 46839

Re: 2nd million is easier!

Interested where the OP or others are now. The last 3 years have been good to them. Status updates? :-) Since you asked, I am now at $3,100,000 in my 65/35 3 fund portfolio. I am 54 years old. I have continued to contribute about $90,000/year to my taxable and tax deferred accounts combined. I had ...
by MrBobcat
Tue Jan 19, 2021 5:50 pm
Forum: Personal Consumer Issues
Topic: Engagement Ring
Replies: 140
Views: 7909

Re: Engagement Ring

I'm so glad I was poor when I got married. 1/3 carat engagement ring at JC Penny's - $230, which so far has worked out to $7.18/year.

That being said I'd second the look at Costco.
by MrBobcat
Sat Jan 16, 2021 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving FA - had the convo, could use some support!
Replies: 31
Views: 2817

Re: Leaving FA - had the convo, could use some support!

He raised the issues I've heard before: do you have time to take this on? Do you want to? I can tell by your post that you are obviously sharp enough to do this yourself. I do not have many posts but I have followed this forum for a long time. If you were to ask your advisor how much time he (?) sp...
by MrBobcat
Sat Jan 16, 2021 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving FA - had the convo, could use some support!
Replies: 31
Views: 2817

Re: Leaving FA - had the convo, could use some support!

the personal relationship and his hints that managing this is complicated (which I know is not the case) are giving me pause. barneycat Sales tactics. I had a good personal relationship (or so I thought) with my EJ guy before leaving, his parting shot was that it was complicated (akin to flying a p...