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  1. #31
    Registered User Jimbo0731's Avatar
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    Just depends on how you're saving it boyos. Gold is a great hedge against inflation right now once the whole world realizes any debts in USD are a complete sham from all the printing. The fact that confidence in the dollar is even around now is crazy. They are convincing people on 30year bonds at 1.64%. Who in their right mind is loaning for such an abysmal return and that's only if inflation doesn't completely wipe out the gains. Circus can only go on for so long before another event happens and chit gets real.

    https://www.treasury.gov/resource-ce...spx?data=yield

    So spending you're money isn't so much a bad idea as you'll never get as good of a price on things now compared to when inflation takes off, just buy things that can be bartered and or hold value and will last with good quality.
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  2. #32
    Registered User davik's Avatar
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    Originally Posted by Jimbo0731 View Post
    Just depends on how you're saving it boyos. Gold is a great hedge against inflation right now once the whole world realizes any debts in USD are a complete sham from all the printing. The fact that confidence in the dollar is even around now is crazy. They are convincing people on 30year bonds at 1.64%. Who in their right mind is loaning for such an abysmal return and that's only if inflation doesn't completely wipe out the gains. Circus can only go on for so long before another event happens and chit gets real.

    https://www.treasury.gov/resource-ce...spx?data=yield

    So spending you're money isn't so much a bad idea as you'll never get as good of a price on things now compared to when inflation takes off, just buy things that can be bartered and or hold value and will last with good quality.
    what do u think of this

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  3. #33
    Registered User MirinCanadian99's Avatar
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    I see money and assets as a great way of building generational wealth.
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  4. #34
    ๐Ÿ‡ง ๐Ÿ‡ฎ ๐Ÿ‡น ๐Ÿ‡จ ๐Ÿ‡ญ ๐Ÿ‡ฎ ๐Ÿ‡ณ๊ง๊ง‚ DesiredUserphag's Avatar
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    A good balance is key just like everything else in life. Save some so you don't end up living on the street when older but spend some so you feel like life is worth living.
    โ„ญ๐”ฌ๐”ซ๐” ๐”ฒ๐”Ÿ๐”ฆ๐”ซ๐”ข๐”ฐ ๐”’๐”ซ๐”ฉ๐”ถ โ„ญ๐”ฏ๐”ข๐”ด
    โ“…โ’ธ โ“‚โ’ถโ“ˆโ“‰โ’บโ“‡ โ“‡โ’ถโ’ธโ’บ
    ฯ‰ฯƒัโ„“โˆ‚ ั‚ัฮฑฮฝั”โ„“ั”ั ศผัั”ฯ‰ โดโท/ยนโนโต
    ๐•ฌ๐–Š๐–˜๐–™๐–๐–Š๐–™๐–Ž๐–ˆ๐–†๐–‘๐–‘๐–ž ๐•ฎ๐–š๐–™ ๐•ธ๐–†๐–˜๐–™๐–Š๐–— ๐•ฝ๐–†๐–ˆ๐–Š ยฎ
    ๐‘ฌ๐‘ต๐‘ป๐‘ฑ ๐‘จ๐‘ณ๐‘ท๐‘ฏ๐‘จ ๐‘ป๐‘จ๐‘ผ๐‘น๐‘ผ๐‘บ ๐‘ช๐‘ถ๐‘ด๐‘ด๐‘จ๐‘ต๐‘ซ๐‘ฌ๐‘น
    "๊œฑสœแด› แดษชxแด‡แด… แดกษชแด›สœ แดฉษช๊œฑ๊œฑ แดษชxแด‡แด… แดกษชแด›สœ ๊œฐแดœแด‹ษชษด แด›แด‡แด‡ษดแด€ษขแด‡ แดฉแดœ๊œฑ๊œฑy แดŠแดœษชแด„แด‡" ~สŸ.แด.
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  5. #35
    Transracial gigaTyrone elterrible987's Avatar
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    money = freedom and less stress

    a lot of people dont get this, a lot of young people also dont get this.

    you have money put away you dont have to worry about things. If get laid off you dont have to worry about paying the rent and all that chit you also dont have to worry about taking the very next job that comes up because youre on the brink of being homeless, that means you can be more picky and get a better job from the get go instead of taking a lower end one and being stuck there for years. If it took a few months to find a higher end job then so what. Now you are making more money vs a poorcel who couldnt save. It takes money to make money.
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  6. #36
    Progression Visel's Avatar
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    Originally Posted by AgentSkyhawk View Post
    OP is having a checkers strategy in the game of chess. Try to convince Warren Buffet, Bezos, Gates to use money like that and they'll ask security to toss you out the room.

    "Having some money saved up" should be around 6-12 months of living expenses. To put that in better terms, 70% of Americans didn't even have a grand in their savings on 2019
    https://www.statista.com/chart/20323...othing%20saved.

    So when 2020 spreaded everybody's asscheeks you already know what happened next

    After expenses, figure out the number you need to retire off of. From there it's multiple streams, dividend stocks/index funds, "Cash flow" for the 2 real estate miscers, etc. One formula online will have you do Annual income x 25=the number you need to truly be damn near at the pinnacle of financial freedom





    You're not going to get rich from one job nor are you safe with 1 job, 2020 has shown that.
    Neat graphic. I'm on Level 3. Doubt I'll get at 4 for another 10 years, or 5 for 20+. Looking at it solely from a non-retirement account perspective that is.

    And that's my main issue with this graphic is it doesn't separate retirement and non-retirement investing. If my net worth is around 25x my living costs, but 80% of that is tied into retirement and technically inaccessible till 59 1/2 or else I get penalties... then I'm probably still on Level 3 or Level 4 in my head at least. Same goes for if my retirement account is generating my living costs annually, does it really count if it's retirement and I'm 10, 20, 30 years off from retirement?

    Back to the OP though:

    One thing I've heard from a lot of folks is that the younger you are, the riskier you can/should be in your investing. The older you get the more you wanna tune that down to reduce volatility and potentially wrecking your net worth. I think if you're in your twenties, this doesn't necessarily mean go crazy and gamble (except on the rare occasion with friends with a specific limit for fun as a social event), but should mean doing things like working with a slightly lower emergency fund, chucking non-retirement money into stock markets you feel educated about, being a little more spendy for fun - after all you'll never be as young and nimble as you are right this moment!

    For your thirties you might wanna start trying to be a bit less risky, keeping to good historically proven mutual funds more often than not when it comes to your portfolio. This should probably be further amplified if you have your own family (kids, wife) that you gotta provide for and ensure your money is secure for.

    For your forties you should maybe have an idea for how you want to spend your elder years better (50/60+), given what you've done with your investments and accounts by then. So lower risk to try to follow a steady path the rest of the way.
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  7. #37
    Registered boomer r32gojirra's Avatar
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    Originally Posted by MilkforBrains View Post
    Debt is the real bitch. Being good with money is more about avoid debt than saving.

    Know a woman who got an out of court payout of about ยฃ25,000 and blew through it going to expensive restaurants, cocktail bars and other complete bullchit. One year later she was back into debt with the same broken car she had before the money. Some people are just dreadful with money.
    I think at last count Iโ€™m holding around $4m in debt and that was after a fairly significant deleveraging.

    Anyone who canโ€™t make money when capital can be rented at 2.5 per cent is bad with money

    Originally Posted by elterrible987 View Post
    money = freedom and less stress

    a lot of people dont get this, a lot of young people also dont get this.

    you have money put away you dont have to worry about things. If get laid off you dont have to worry about paying the rent and all that chit you also dont have to worry about taking the very next job that comes up because youre on the brink of being homeless, that means you can be more picky and get a better job from the get go instead of taking a lower end one and being stuck there for years. If it took a few months to find a higher end job then so what. Now you are making more money vs a poorcel who couldnt save. It takes money to make money.
    Why would someone who has money be living in someone elseโ€™s house
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  8. #38
    Registered User Underwrought's Avatar
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    Originally Posted by Jimbo0731 View Post
    Just depends on how you're saving it boyos. Gold is a great hedge against inflation right now once the whole world realizes any debts in USD are a complete sham from all the printing. The fact that confidence in the dollar is even around now is crazy. They are convincing people on 30year bonds at 1.64%. Who in their right mind is loaning for such an abysmal return and that's only if inflation doesn't completely wipe out the gains. Circus can only go on for so long before another event happens and chit gets real.

    https://www.treasury.gov/resource-ce...spx?data=yield

    So spending you're money isn't so much a bad idea as you'll never get as good of a price on things now compared to when inflation takes off, just buy things that can be bartered and or hold value and will last with good quality.
    This guy gets it. No one knows when it will happen, but it's going to happen. And when it does you're either going to be completely fukked or just kinda ok.

    Rip when this bubble bursts. Silver is a good hedge as well.

    With that said it doesn't mean go out and convert all your money into gold/silver but you should be divested 20% of your net worth into it.
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  9. #39
    Transracial gigaTyrone elterrible987's Avatar
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    Originally Posted by r32gojirra View Post
    I think at last count Iโ€™m holding around $4m in debt and that was after a fairly significant deleveraging.

    Anyone who canโ€™t make money when capital can be rented at 2.5 per cent is bad with money



    Why would someone who has money be living in someone elseโ€™s house


    It dont alwayas make sense. I looked into it when I last moved and looked at what percent of the mortgage payments even goes towards principle. It isnt chit, after 3 years i would barely have any equity, most of it is just interest and closing costs, then property taxes on top of that. Then I moved from the area I would have to pay some numb nut property manager to "take care of it" and "Watch over" the property for me and I seen how much those people give a chit from the other side, they only care about getting their cut, not looking out for maintenance issues. It wasnt even worth it, any small fluctuation in market value would completely wipe out whatever equity I had in at that point and I could be under at this point. People saying never ever rent have probably never really looked into it hard.
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  10. #40
    Registered User Scarrdbutsmartr's Avatar
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    It sucks to be 80 and still HAVE to work to put food on the table and a roof over your head.

    ..and thats where the vast majority of Americans are sitting.
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  11. #41
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  12. #42
    Registered User tripod29's Avatar
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    If you do not save money you're a peasant. Srs.


    Inb4 Yolo
    Last edited by tripod29; 10-26-2020 at 07:44 AM.
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  13. #43
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    The equation to solve for is balance that many have already posted here. That equation has multiple variables and those variables change over time so its important to constantly stay on top of it.
    As example, investing money in your 20's consistently yields major upside 20 years down the line. Its the snowball effect in play (compounding math)

    The balance piece is how much is too much. You still have to live your life in the present as well.
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  14. #44
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    True

    i agree
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  15. #45
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    Originally Posted by Jimbo0731 View Post
    Just depends on how you're saving it boyos. Gold is a great hedge against inflation right now once the whole world realizes any debts in USD are a complete sham from all the printing. The fact that confidence in the dollar is even around now is crazy. They are convincing people on 30year bonds at 1.64%. Who in their right mind is loaning for such an abysmal return and that's only if inflation doesn't completely wipe out the gains. Circus can only go on for so long before another event happens and chit gets real.

    https://www.treasury.gov/resource-ce...spx?data=yield

    So spending you're money isn't so much a bad idea as you'll never get as good of a price on things now compared to when inflation takes off, just buy things that can be bartered and or hold value and will last with good quality.
    This is why as I rebalance my portfolio throughout the years, instead of transitioning into bonds, I will buy Rolex
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  16. #46
    Capitalist GordonXXX's Avatar
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    Originally Posted by davik View Post
    Money is meant to be spent. I think I wrongly bought into the stingy approaches to money.

    Obviously I think having some money saved is essential, but past that it gets ridiculous.
    save and invest your money NOW so it can grow and you can f**k off later. it's nice to wake up in the morning and do whatever the f**k you want to do and to answer to no one. gym/beach/pool/happy hour. rinse and repeat.

    IMO -

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  17. #47
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  18. #48
    Cultured Swine CougarP01's Avatar
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    Saving is overrated after you have an emergency fund. The only skill that is needed in money management is living below your means(Defense).. You will always end up broke if you can't wrap your head around that. Love your work, and you will never feel the need to overspend on unnecessary chit because there are no voids to fill.

    After that its money making skills(Offense) - STEM skills, entrepreneurial skills, intangible investing skills, or whatever contributing skills you have to our economy.

    Its not that difficult once you realize everything involving money is literally ^^ those 2 things.
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  19. #49
    son of the turtle wangbadan's Avatar
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    Originally Posted by GordonXXX View Post
    save and invest your money NOW so it can grow and you can f**k off later. it's nice to wake up in the morning and do whatever the f**k you want to do and to answer to no one. gym/beach/pool/happy hour. rinse and repeat.

    IMO -

    VFIAX - 70%
    VWLUX and/or VBTLX - 30%
    Did you mean to say all in TSLA puts 0dte?
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  20. #50
    It's over for you aleeboy's Avatar
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    Originally Posted by GordonXXX View Post
    save and invest your money NOW so it can grow and you can f**k off later. it's nice to wake up in the morning and do whatever the f**k you want to do and to answer to no one. gym/beach/pool/happy hour. rinse and repeat.

    IMO -

    VFIAX - 70%
    VWLUX and/or VBTLX - 30%
    This assumes you are worth anything from a genetics perspective later in life. From what Iโ€™ve observed, most people become invisible well before 30. Whatโ€™s the use of being ugly with money when you only had a short time to spend during your peak years?

    Too much ugly cope. Let me remind you that having money and being good looking absolute boss.

    Heck, I donโ€™t even need to pay for much and I still get the best service because they want me there as I bring the ladies, which brings more thirsty guys who will pay for table service.

    Just lol
    "The manlet is a savage beast that knows no moral bound. After falling in disgrace to a manmore, a ravaged manlet would not hesitate to come from behind and land a sucker punch/ swing with a rock to the back of a manmore's head. They are ruthless and you need to spend some more time in the gutter to even begin trying to comprehend what goes on in their minds."

    Hurt by the aleeboy and need to cope? Go here for hugs: https://forum.bodybuilding.com/showthread.php?t=178724011
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  21. #51
    Registered User MikeLowrrrey's Avatar
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    I think my plan is emergency fund, paid for house, then investing. I'd rather a paid off house with cheap property taxes than anything, in cases like now I'd be safe if I lost my job. Get my living expenses as low as possible, that's my number 1 goal. Utilities $200/month. That's literally all I'd have pay.


    It's too bad Illinois property taxes cost so much, I need to find something that's like $2400/yr. Debt + Living expenses is what really kills people.
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  22. #52
    Capitalist GordonXXX's Avatar
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    i wish you kids would listen to me. i'm trying to help you. i've done it.

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  23. #53
    Registered mogger MetroBrah's Avatar
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    Originally Posted by GordonXXX View Post
    i wish you kids would listen to me. i'm trying to help you. i've done it.

    mirin. I just need about 40 more years at my current investment rate
    Mog or be Mogged
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  24. #54
    Banned Travis99's Avatar
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    Mindset > Money
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  25. #55
    Unregistered User 2RDEYE's Avatar
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    Originally Posted by GordonXXX View Post
    save and invest your money NOW so it can grow and you can f**k off later. it's nice to wake up in the morning and do whatever the f**k you want to do and to answer to no one. gym/beach/pool/happy hour. rinse and repeat.

    IMO -

    VFIAX - 70%
    VWLUX and/or VBTLX - 30%
    how much of ur salary did u invest consistently. was investing 10k/yr previously for like 12 years, felt it wasn't enough. but it is a very long-term game
    There is only one Hell: the one we live in now.
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  26. #56
    Mean & Green SultanofBling's Avatar
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    Originally Posted by mesobuild View Post
    Own property. Does wonders for your mental health. Smarter, less stressed, more dominant, more confident.
    Messomi alt?
    None of the above constitutes legal advice nor should be interpreted as such.
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  27. #57
    Registered User MountainLion84's Avatar
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    My whole goal in life is to elevate my family to the next tier of society

    My grandparents were poor
    My parents were middle class
    My Wife and I are upper middle class

    I would like to leave my kids assets and options to do whatever the fk they want but I guess that doesn't tie into how selfish society has become..... fk u MISC, phaggots
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  28. #58
    Registered User Jimbo0731's Avatar
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    Originally Posted by davik View Post
    what do u think of this

    What happens when people don't want USD is the whole reason it would switch to a gold standard, because it becomes near useless when inflation destroys its value. You will need to work 200+% more hours to afford the same things. So his agruement is uselsss when faith is lost in USD which is exactly what I'm getting at. The can has been kicked down the road for too long and QE can only work for so long until it destroys the dollars value and no one wants it anymore. It's only going to take one event or day to start the ball going. Though I don't ever see it switching to a complete gold standard like the original, maybe some new digital currency backed by gold maybe, who knows but it'll be whatver the government and world powers decide. But getting off topic now.

    Save your money, invest it properly and take some defensive measures right now and you will thank yourselves later in life.
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  29. #59
    Registered User Nicklol's Avatar
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    to a certain extent, yeah..
    Ive been saving the past year and being very disciplined but meanwhile.. I was walking around with the same crappy pair of pants and few old shirts.
    So I recently went shopping and bought a bunch of stuff + airpods.
    Then my pcs graphics card broke and I freaked out cuz thats a few hundred right there.. ended up buying a whole new pc last night and I dont regret either..
    unexpectedly spent like 2.2k the past month but I need the stuff.
    just gives me motivation to go back to saving again
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  30. #60
    Capitalist GordonXXX's Avatar
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    Originally Posted by 2RDEYE View Post
    how much of ur salary did u invest consistently. was investing 10k/yr previously for like 12 years, felt it wasn't enough. but it is a very long-term game
    i saved/invested my ass off - i probably saved 50% of my income. i've always lived underneath my means - even today. i live well, but i live under my means. i still drive a 2004 car (but will upgrade soon). freedom is so much more important to me than material possessions.
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