The Finance/Retirement Thread

lindy said:
Holy shit, THAT should be a thread: when to pull out. Obviously @Devildoc is clueless.

Buy EVERYTHING lindy sells & sell EVERYTHING lindy buys. Follow that advice and you’ll make all the $$$$ I’ve lost.
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Hey, I can't help that I have to beat the women off me. She won't leave me alone. I am all, like, woman, I need my sleep! 12 times a week, that's just too much even for me.
 
Diamondback 2/2 said:
lol I tried to fuck around any penny stocks... Yeah, not so much. But it didn't cost me too much, figured the cost of learning and I learned that I'm better working with my hands then a computer.


Just a heads up, small investment stuff, fucking T-shirt's... You make roughly 3-8 dollars a t shirt doing online sales. You have to have a marketing strategy, but man, if you hit the right generational group/trend, you can make millions quickly. Some copy right stuff involved and it can be hit or miss, but really low cost to start up. Go through a t-shirt direct printing company, and you basically have no over head, pretty much cost of design and marketing.

Waiting on my oldest daughter to hit high school, and that will be our little business together. Hopefully grab her generation on a trend and leap frog that into her stated desire of graphic design.
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We had a rental property, ended up selling it because of issues with the city. But this is a great area to have property, we just got our revaluation, our value went up 40 grand in 2 years. Maybe when my kids are out of high school we will do it again.
 
The wife and I are both retired mil and we have TEP, 401k money. Right now we are in New Mexico because the pay is great here for CRNAs but we will eventually move back to Florida. We continue to contribute to a company 401k but we are also saving heavily to pay cash to build our retirement home on our land in the panhandle. We have on rental property but my parents live in it so not a money maker at this time. May be interested in acquiring more in the future.
 
Here is what I am doing currently, any advice appreciated:

Age: 33M 29F w/ 1st little friend on the way. We rent in a HCOL city, looking to move and buy home in burbs. Looking at public school areas but they are HCOL as well. IL blows.

My 401k: max from portion of bonus each year. Company adds 3% of comp on top later in the year. Composition is 85% equities.
Wife 401k: 15% contribution. Composition is 90% equities.
Rollover IRA: small trading account with stocks. It suffers from the @lindy issue as well.

I don't have a Roth because I can't contribute or open due to restrictions on income. I could take the Rollover IRA, and do a back door Roth conversion, but, I haven't until typing this thought about doing that. Now I am wondering why I haven't and if it is beneficial or not. I would appreciate any input and did read the disadvantages article posted earlier.

My thoughts on retirement are that by the time I am looking to retire there is a real possibility SS might not be what it is today or even be around, I don't know. My time horizon is long, so I have an aggressive mix in our accounts because I can weather large market moves given I am not retiring for min 3 decades. I need to create value, not protect it so diversification is not my primary focus at this point. I look for low fee funds and each year just pick one to contribute to. Every year going forward I just change the fund and try to build a forward allocation.

For us we save and budget aggressively in an attempt to keep lifestyle creep down. It is inevitable, but, trying to minimize the impact.
 
lindy said:
@Isiah6:8 , check out the T. Rowe Price mutual funds. I like comm & tech fund because I like gadgets and 5G is going to blow our fricken minds.

Note: current phones won’t go 5G because the device needs more antennas and a separate processor just to handle the cell signal.

https://www3.troweprice.com/fb2/mfpathways/pathways.otc?facets=domesticStock,intStock
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Thanks I will check which ones I have access to and this is incredibly helpful. I was/probably still am behind on retirement planning because I wasn't making as much early on in the grind out phase of the industry. Now I am trying to find the most effective way to catch up without dumping cash flow I might need for a rainy day into penalized withdrawal funds. It is a finicky balance.
 
Here is what I have got going so far.

-2 Years TIS, from FL so I pay no state tax.
-I opted into the Blended Retirement System.
-Currently contributing 5% of base pay into a Roth TSP with 5% matching contributions from the gov.
-I own my condo in Hawaii and have already garnered a decent amount equity. Thanks VA home loan!
-I consider my Jeep an investment;-)

I plan on keeping this condo and renting it out once I PCS. BAH is crazy high (2800 for E-1 through E-4 and higher for higher rank) when my mortgage/HOA fees is $1900/month should give me a small supplementary income while I am gone. I also plan on utilizing the rest of my VA Home loan to buy property on the mainland.

That is it for now. I am open to any advice you guys have for a younger guy like myself! My wife and daughter are very important to me, and ensuring we have a secure future is a priority.
 
I currently have 30% of my income going into my TSP. I have my TSP set up as a Roth with it being based off of the S&P 500. I have a separate index fund, also based on the S&P 500 run through Vanguard which I'm contributing to each month as well.
 
Any advice on my current financial planning setup would be greatly appreciated as I am by no means an expert in this field.
 
Diamondback 2/2 said:
lol I tried to fuck around any penny stocks... Yeah, not so much. But it didn't cost me too much, figured the cost of learning and I learned that I'm better working with my hands then a computer.


Just a heads up, small investment stuff, fucking T-shirt's... You make roughly 3-8 dollars a t shirt doing online sales. You have to have a marketing strategy, but man, if you hit the right generational group/trend, you can make millions quickly. Some copy right stuff involved and it can be hit or miss, but really low cost to start up. Go through a t-shirt direct printing company, and you basically have no over head, pretty much cost of design and marketing.

Waiting on my oldest daughter to hit high school, and that will be our little business together. Hopefully grab her generation on a trend and leap frog that into her stated desire of graphic design.
Click to expand...

I actually saw a video that covers creating a merch line. It's more focused on creating a merch line when you already have a YouTube audience, but it would apply to merch in general.

 
Cookie_ said:
I actually saw a video that covers creating a merch line. It's more focused on creating a merch line when you already have a YouTube audience, but it would apply to merch in general.

Click to expand...

Yeah I've read a few different articles on it and did some baseline research. The big winners tend to be in age groups between 12-16 and 24-30 with regards to trends. Based on my limited research, I actually started looking at it because a couple of buddies have had some luck with veteran style shirts. So I figured being my daughter is into that stuff, drawing, designing, and all around being a jokester, and being in that age group next year, makes sense. We have kept her away from the net thus far, but next year I'm going start letting grow up I guess. If I can do that, teach her some basic business skills, money management and get her to develop an small business owners drive, it's worth any potential money loss, within reason of course.
 
Looking good!!!

The Dow posted its ninth consecutive week of advances, its longest weekly winning streak in nearly 24 years, as investors continued to digest commentary surrounding progress toward a U.S.-China trade deal.

The Dow (^DJI) closed at 26,031.81 points, having climbed 0.7%, or 181.18 points, by the end of Friday’s session. This was the first time the index crossed 26,000 points since November 9, and its nine straight weeks gains marked the longest streak since a 10-week run between March and May 1995.

The S&P 500 (^GSPC) rose 0.64%, or 17.79 points, with tech stocks leading advances as the index posted its fourth consecutive week of gains. The Nasdaq (^IXIC) rose 0.91%, or 67.84 points, and posted its ninth straight week of advances, tying for the longest weekly winning streak since May 2009.
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Dow's 9-week winning streak is the longest in nearly 24 years
 
Avg 401K balance by age group!

Average 401(k) balance by age group: See how your retirement savings compare

According to the news site, the average 401(k) balance is $103,700. But it's worth noting balances vary greatly depending on age.

Fidelity provided data to CNBC to determine the average amount Americans have in their retirement savings account at each age (as of the first quarter of 2019). Here's what the company discovered.

  • 20-29: $11,800
  • 30-39: $42,400
  • 40-49: $102,700
  • 50-59: $174,100
  • 60-69: $195,500
The exact amount you should aim to have in your retirement savings account depends on your lifestyle, location, among other factors. However, Fidelity told CNBC most American workers should save at least 15 percent of their income each year.
Click to expand...
 

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