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Re: Tom Stanley-Millionaire Next Door Author Killed in Auto

Found "The Millionaire Next Door" in my early 20s and couldn't put it down. What my father had been saying for years was really true.

Thank You for doing the hard homework on the reality of American finances, Dr. Stanley.

God bless you and yours in this time of loss.

Hoosier
by SC Hoosier
Mon Mar 02, 2015 10:48 am
 
Forum: Personal Finance (Not Investing)
Topic: Tom Stanley-Millionaire Next Door Author Killed in Auto Acci
Replies: 37
Views: 5451

Re: How much did you have saved up for retirement at age 30?

Envy is the sideways glance, looking at what someone else has, instead of looking at what you have with gratitude. Why is it that we always compare ourselves with people that have more instead of those who have less?
by SC Hoosier
Fri Feb 27, 2015 9:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much did you have saved up for retirement at age 30?
Replies: 169
Views: 11459

Re: How much did you have saved up for retirement at age 30?

1) In 3 years I will be 30 and I am projecting to have ~1.25mil in combined accounts* (this was done soley by high savings rates/low expenses- no windfalls, inheritances, business sales, etc). I also found bogleheads when I was 16 or 17 so that helped a lot. 2) This amount is just enough for my ear...
by SC Hoosier
Thu Feb 26, 2015 10:49 am
 
Forum: Personal Finance (Not Investing)
Topic: How much did you have saved up for retirement at age 30?
Replies: 169
Views: 11459

Re: Is the first 100k really the hardest?

I've often heard people say that the first 100k is the hardest...it only gets easier from here...now the magic of compounding begins, etc. I was wondering if anyone had any statistical support for this or if it's more of a cerebral victory. $100k: It took us 5 long years after graduation from May 2...
by SC Hoosier
Wed Feb 25, 2015 9:13 am
 
Forum: Personal Finance (Not Investing)
Topic: Is the first 100k really the hardest?
Replies: 54
Views: 7764

Re: electric toothbrush

Excellent,,,Thanks for posting :happy No problem. After all the great financial advice I have gotten on this site, it is nice to contribute to a topic I know well. I'll say it again. Floss daily and brush 2x a day. Add fluoride toothpaste and fluoride rinse and you can save lots of money on dental ...
by SC Hoosier
Sat Feb 21, 2015 11:15 pm
 
Forum: Personal Consumer Issues
Topic: electric toothbrush
Replies: 38
Views: 2158

Re: What is your favorite consumer product?

Cutco can opener. It's hard to find one that doesn't fall apart these days and Cutco's is worth the money. Buy one and enjoy it for life.

Edit: Also Lucas Fuel Treatment and Oil Stabilizer. Great stuff. Makes my baby purr.
by SC Hoosier
Sat Feb 21, 2015 8:51 pm
 
Forum: Personal Consumer Issues
Topic: What is your favorite consumer product?
Replies: 164
Views: 9618

Re: Dave Ramsey Lashes Out at His Financial Critics

Haters gotta hate. Rediculous. ... Dave Ramsey has done as much for people's finances as Jack Bogle has. No that statement is ridiculous. Bogle has not taken anyone from poverty to prosperity, which Dave does daily. How can you argue against that? What makes you think that Bogle didn't do that? I'l...
by SC Hoosier
Thu Feb 19, 2015 10:24 am
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 9659

Re: Dave Ramsey Lashes Out at His Financial Critics

Haters gotta hate. Rediculous. ... Dave Ramsey has done as much for people's finances as Jack Bogle has. No that statement is ridiculous. Bogle has not taken anyone from poverty to prosperity, which Dave does daily. How can you argue against that? PS. Thanks for the correct spelling of ridiculous. ...
by SC Hoosier
Thu Feb 19, 2015 10:16 am
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 9659

Re: Dave Ramsey Lashes Out at His Financial Critics

Haters gotta hate. Ridiculous. We are on a forum celebrating a man that saved us 1-2% in fees every year. That is fine and Jack is great. How much do you think Dave is saving people when he motivates them to wake up from their financial stupor and get out of debt? Car payments that they cannot affor...
by SC Hoosier
Wed Feb 18, 2015 9:51 pm
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 9659

Re: Rookie, looking to assess my investments and my plan..th

If you contribute to a Roth IRA, after your house purchase, that would enable you to get money out before 59.5 without paying penalty. You can withdraw contributions at any time, tax free, because you have already paid taxes on that money. That could help you if you need it.

FYI,

Hoosier
by SC Hoosier
Wed Feb 18, 2015 10:30 am
 
Forum: Investing - Help with Personal Investments
Topic: Rookie, looking to assess my investments and my plan..thanks
Replies: 9
Views: 613

Re: Ironic Downside to Retirement Planning

During most of my working career, I've kept a rough estimate in my mind of when I hoped to retire. The approximate date only changed twice - first, after the 2000 tech market decline and second, after my divorce. Once the dust had settled on the divorce papers and the house was sold, I sat down to ...
by SC Hoosier
Wed Feb 18, 2015 9:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Ironic Downside to Retirement Planning
Replies: 17
Views: 2870

Re: How to make this fair: gifting to kids with different me

Lets say you want to start gifting to your kids before your death. You're a little hesitant to give too much away, though, as you're still healthy and active. If you need all your money then this all comes off the table and you spend your money! Your kids a quite different - one went in a "tra...
by SC Hoosier
Tue Feb 10, 2015 10:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to make this fair: gifting to kids with different means
Replies: 108
Views: 8896

Re: [4 year update - would like another review]

Also, after contributing 6% to 401k, my next priority would be the Roths and HSA because of better investment options. Thus, I would reduce 401k contributions to 6% and focus on: 1. ESPP 2. Car 3. Roths 4. HSA 5. Some extra on the mortgage 6. 401k above 6% SC Hoosier - Just to clarify, I have the f...
by SC Hoosier
Tue Feb 10, 2015 2:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: [4 year update - would like another review]
Replies: 10
Views: 1189

Re: Guidance on Prioritization

I think I might feel a little better if I begin funding a 529 for each child with a portion of the proceeds from the ESPP cash out. Opinions on that thought are welcome. Sometimes, in an attempt to be wise, I try to do too much at once. You don't have to do it all now. Your most pressing need is a ...
by SC Hoosier
Tue Feb 10, 2015 10:11 am
 
Forum: Investing - Help with Personal Investments
Topic: [4 year update - would like another review]
Replies: 10
Views: 1189

Re: [4 year update - would like another review]

I would maximize the ESPP and use that money to fund an upgrade in vehicle. I disagree with many on this forum on cars. Monthly cash flow is precious. Don't fill your budget with commitments. Save up $10-15k and buy the best used vehicle you can. Cost of ownership goes way down if you do this. When ...
by SC Hoosier
Tue Feb 10, 2015 10:04 am
 
Forum: Investing - Help with Personal Investments
Topic: [4 year update - would like another review]
Replies: 10
Views: 1189

Re: What is the best product to clean golf clubs?

I know that a lot of people live by the club cleaner that Frogger makes (http://www.froggergolf.com/brushpro-seo/). I personally use a brush like this during rounds, and use wet towel with dish soap to clean both the heads and grips after every other round or so. Cleaning the grips definitely keeps...
by SC Hoosier
Wed Jan 07, 2015 11:15 am
 
Forum: Personal Consumer Issues
Topic: What is the best product to clean golf clubs?
Replies: 14
Views: 1050

Re: Transcendental meditation

My faith beliefs are very different from Chopra, but this is an exercise of his that I use for stress relief. https://www.youtube.com/watch?v=kWe501bBel8

It really helps with headaches. I try to do it daily. Only 15 minutes.

Hoosier
by SC Hoosier
Wed Jan 07, 2015 11:08 am
 
Forum: Personal Consumer Issues
Topic: Transcendental meditation
Replies: 38
Views: 2336

Re: Avoiding lifestyle creep

Thank you, everyone, for your input. We may actually allow a bit of lifestyle creep with this raise... not much, but a little. We are going to spend small amounts on things like extracurriculars for our kids (circus arts classes, drawing classes), maybe some skiing locally, more experiences now tha...
by SC Hoosier
Wed Dec 03, 2014 12:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Avoiding lifestyle creep
Replies: 30
Views: 5607

Re: 1st Moving Violation Traffic Ticket: Lawyer Up or Pay Fi

It's different in every state. In my state, I would be more than happy to p y $400 for any chance for reductions. My son was in an accident last winter that resulted in 4 points. It's costing me $495 a year in surcharges for 6 years. Make him pay the extra. Natural consequences are the backbone of ...
by SC Hoosier
Wed Dec 03, 2014 11:42 am
 
Forum: Personal Finance (Not Investing)
Topic: 1st Moving Violation Traffic Ticket: Lawyer Up or Pay Fine?
Replies: 18
Views: 1413

Re: My grown up Christmas wish-A Warm House

This is why I would never buy an older house. Plumbing and efficiency issues. I don't care how good it looks or how good a deal it is. Building codes have come a long way in 100 years. Even cheaply built newer homes (mine is 2005, purchased in 2009 for $80k, 1200 sf) are built so much better than mo...
by SC Hoosier
Mon Nov 24, 2014 10:28 am
 
Forum: Personal Consumer Issues
Topic: My grown up Christmas wish-A Warm House
Replies: 27
Views: 3648

Re: If holding cash, do you want a Great Depression?

I agree with what those above are saying about global suffering, but I have had the same thought as the OP. The following is what convinced me to scrap that thought: What if the depression doesn't come in your lifetime or working years? Say you set aside $100,000 just in case the Big One hits. Inste...
by SC Hoosier
Mon Oct 27, 2014 6:47 pm
 
Forum: Investing - Theory, News & General
Topic: If holding cash, do you want a Great Depression?
Replies: 50
Views: 4416

Re: Why not 100% Stocks?

I can agree with the last three posts. I am 0% bonds and my retirement accounts are 100% equities.
by SC Hoosier
Fri Oct 17, 2014 10:04 pm
 
Forum: Investing - Theory, News & General
Topic: Why not 100% Stocks?
Replies: 274
Views: 22657

Re: Why not 100% Stocks?

I am 100% equities. My reasons are as follows: My wife and I are under 40 with tolerance for market ups and downs. I get excited when I see red. We have no debt including our home. So our net worth is 45% home equity. Thus, in this situation, I'm not looking to temper risk. I'm looking for more risk...
by SC Hoosier
Fri Oct 17, 2014 9:18 pm
 
Forum: Investing - Theory, News & General
Topic: Why not 100% Stocks?
Replies: 274
Views: 22657

Re: Best solution for clouded auto headlight lens?

I just restored my headlights with this: http://smile.amazon.com/Sylvania-38771-Headlight-Restoration-Kit/dp/B00429NKWK/ref=sr_1_3?s=automotive&ie=UTF8&qid=1413058737&sr=1-3&keywords=headlamp+cleaner It worked great. The video was really helpful. It instilled some confidence. The fin...
by SC Hoosier
Fri Oct 17, 2014 8:37 pm
 
Forum: Personal Consumer Issues
Topic: Best solution for clouded auto headlight lens?
Replies: 31
Views: 3248

Re: Cleaning Up Leaves

A little upgrade on the mulching idea. My family owned a golf course as I grew up. We mulched our leaves by taking our mowers over them often, sometimes daily. My dad made a cover for the discharge outlet on the riding mowers. This keeps the leaves under the deck longer, where the turning blades wil...
by SC Hoosier
Mon Oct 13, 2014 10:40 pm
 
Forum: Personal Consumer Issues
Topic: Cleaning Up Leaves
Replies: 40
Views: 3610

Re: Small Moneysavers Which Add Up

I buy sunglasses from the Dollar Store. This came to mind because I misplaced a pair just today. Hopefully it will turn up. If not, then I guess I'm out of a buck. I buy sunglasses by the lot on ebay. I go through a lot of them so this works best. Usually works out to $2/pair. They aren't always wh...
by SC Hoosier
Thu Oct 09, 2014 9:41 am
 
Forum: Personal Consumer Issues
Topic: Small Moneysavers Which Add Up
Replies: 74
Views: 7725

Re: Home affordability

It doesn't seem that financial advice is what the OP is looking for here. Because I can't pay cash? That was more or less your suggestion right? No. That was not my suggestion. You could get this mortgage to be a LOT smaller if you'd focus on it for a while. 4% interest on $350k is &14,000 per ...
by SC Hoosier
Tue Sep 30, 2014 10:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Home affordability
Replies: 25
Views: 2913

Re: Home affordability

It doesn't seem that financial advice is what the OP is looking for here.
by SC Hoosier
Mon Sep 29, 2014 9:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home affordability
Replies: 25
Views: 2913

Re: Home affordability

1) Tough it out where we are until...when? While we love the area and our house served us well until now, I can honestly say it is not the house I (nor my wife) want to live in for another 10 years. I'm almost 40 and if we are to have any hope of having our home paid for by retirement we need to ge...
by SC Hoosier
Sat Sep 27, 2014 7:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Home affordability
Replies: 25
Views: 2913

Re: convince me not to use traditional IRA for house downpay

This may draw some ire from my brethren, but the OP could stop contributing to the retirement accounts until his emergency fund is built back up again. Hopefully, even after resuming retirement contributions there will be significant margin in the budget with the new housepayment and associated cost...
by SC Hoosier
Fri Aug 22, 2014 3:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: convince me not to use traditional IRA for house downpayment
Replies: 23
Views: 2596

Re: Adult child @ home

It seems to me you and your wife have very different views on parenting. There are deeper issues than merely how best to deal with your daughter. It seems fundamentally your wife is focused on setting your daughter up to succeed by removing any financial burdens and barriers, while you are more int...
by SC Hoosier
Fri Jul 04, 2014 1:46 pm
 
Forum: Personal Consumer Issues
Topic: Adult child @ home
Replies: 23
Views: 2233

Re: Does rental income make one eligible for Roth IRA?

bnes,

This is a question for down the road when neither of them are working. Thank you for the thought.

Hoosier
by SC Hoosier
Tue Jun 24, 2014 1:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does rental income make one eligible for Roth IRA?
Replies: 8
Views: 605

Re: Does rental income make one eligible for Roth IRA?

Thank you for the quick answers. I really appreciate your help. So glad to be a member of this community.

Hoosier
by SC Hoosier
Tue Jun 24, 2014 1:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does rental income make one eligible for Roth IRA?
Replies: 8
Views: 605

Does rental income make one eligible for Roth IRA?

I doubt it does, but I thought I ask my very intelligent friends here at Jack's Place.

My father has farm land rental income. Can he call this self employment income on his farm and contribute to a Roth IRA?

Hoosier
by SC Hoosier
Tue Jun 24, 2014 1:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does rental income make one eligible for Roth IRA?
Replies: 8
Views: 605

Re: does frugality result in lower career ambition?

For me, being able to live on less has taken away some of the pressure to earn more, because I make enough to do everything I really want to do. Sure more would be nice, but I like my work and wouldn't change that to earn more. Good question.
by SC Hoosier
Sun Jun 08, 2014 9:51 am
 
Forum: Personal Finance (Not Investing)
Topic: does frugality result in lower career ambition?
Replies: 113
Views: 9722

Re: POLL: QB Aaron Rodgers disproves the EMH

I think the OP makes a good point. I disagree with in_reality. Rodgers played a position that not many teams needed that year, so his services were not as highly valued. I think another interesting point is if Rodgers had been drafted by a team other than the Green Bay Packers he may not have had th...
by SC Hoosier
Wed May 28, 2014 7:48 pm
 
Forum: Investing - Theory, News & General
Topic: POLL: QB Aaron Rodgers disproves the EMH
Replies: 39
Views: 3727

Re: Should I be worried about my girlfriend's debt?

The fact that you are so concerned about this and that it definitely doesn't deter you from wanting to marry her says to me they you should definitely marry her very soon. Until then you have no right to say "we" about anything. Tie the knot, work together to scrape by until you are both w...
by SC Hoosier
Thu May 08, 2014 8:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I be worried about my girlfriend's debt?
Replies: 57
Views: 4953

Re: I like the investment strategy , not really the lifestyl

Dave Ramsey suggests putting 15% of your income into retirement accounts. If you can't live content on 85% of your income, then you've got contentment issues. I focused on paying off mortgage early in life instead of investing. So now I put about 50% of my income into retirement accounts. We still h...
by SC Hoosier
Thu May 08, 2014 8:24 am
 
Forum: Personal Finance (Not Investing)
Topic: I like the investment strategy , not really the lifestyle
Replies: 67
Views: 6807

Re: Obligations to help parents financially?

Tell them you'll give them ten thousand dollars if they graduate from Financial Peace University. Borrow it from your bank if you don't have the cash. If they don't want the deal then they are admitting that they don't want to address the cause of their poor choices, just the symptoms. You have to a...
by SC Hoosier
Thu May 08, 2014 7:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Obligations to help parents financially?
Replies: 77
Views: 7415

Re: Article on Amish approach to personal finance

I related to a lot of the concepts in Craker's book. I didn't realize that some of our family's habits might have come from the Amish traditions. I have Amish ancestors and my family always preached the difference between "wants" and "needs". I have trouble understanding how peop...
by SC Hoosier
Wed May 07, 2014 5:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Article on Amish approach to personal finance
Replies: 12
Views: 1976

Re: 24 year old looking for some wisdom

Pay off the car TODAY. With 1400 per month saved toward the house, that would be $33k in two years. When you get married you can rent, which will increase expenses, but her income should more than offset it. You may save more per month after you're married. Stop contributing to work plan and fund th...
by SC Hoosier
Tue May 06, 2014 8:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: Delete
Replies: 6
Views: 752

Re: An easy way to save money: Avoid the $300,000 car.

Don't buy too much house and don't buy too much car, and you've got 95% of the battle won. You can waste money on a lot of little $3 and $5 and $20 purchases if you get the house and car right. I can speak to this. I have driven five year old vehicles for about 5-7 years and they perform beautifull...
by SC Hoosier
Thu May 01, 2014 9:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: An easy way to save money: Avoid the $300,000 car.
Replies: 152
Views: 19336

Re: I have a perfect 850 FICO score?!

I don't have a fico score, because I don't borrow money. I wait to purchase something until I can pay for it. I don't pay more for insurance because of it.
by SC Hoosier
Thu May 01, 2014 8:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: I have a perfect 850 FICO score?!
Replies: 27
Views: 4368

Re: Do Honda Mowers Leave an Un-cut Grass Strip?

I mostly bag my clippings & so haven't noticed it missing a strip. I'll try a test run with the mulching plug in tomorrow & report back. Thanks! That would be great. One of the comments in Consumer Reports said the the cut was velvety smooth in dense grass, but an un-cut strip is left in le...
by SC Hoosier
Sun Apr 27, 2014 10:03 pm
 
Forum: Personal Consumer Issues
Topic: Do Honda Mowers Leave Un-cut Grass Strips? [YES, but...]
Replies: 51
Views: 10584

Re: Article -- Save for retirement now or be sorry later

http://www.cnbc.com/id/101582012 The above is a link to an article that contained a couple of good points. [Note: The author is Ric Edelman. I don't care for the guy, and I think he's given some terrible investment advice over the years, but even a blind squirrel finds a nut once in a while.] His m...
by SC Hoosier
Sun Apr 27, 2014 9:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Article -- Save for retirement now or be sorry later
Replies: 12
Views: 3790

Re: Poll: Would you EVER recommend 100% equity?

I am 100% equities. I do this because I have no debt, home is paid for, I'm 38, bonds are a raw deal right now, interest rates are low, I have a good emergency fund, and my parents are 99% farm land and residence (I stand to inherit 25% of that). Also, I think my wife's parents are 90% cash and resi...
by SC Hoosier
Sat Apr 26, 2014 9:23 am
 
Forum: Investing - Theory, News & General
Topic: Poll: Would you EVER recommend 100% equity?
Replies: 136
Views: 28033

Re: How long to pay off your mortgage?

I love how my monthly budget looks without a mortgage. I am currently saving 45.7% of my relatively tiny income and I can pause any time the need arises. Example: Just started braces for 13 year old. I wrote a check for 14% of my income and kept on trucking.

Hoosier
by SC Hoosier
Sat Apr 26, 2014 9:03 am
 
Forum: Personal Finance (Not Investing)
Topic: How long to pay off your mortgage?
Replies: 66
Views: 15340

Re: Am I stupid if I use my Roth IRA for a home downpayment?

Your priorities will, or should, change after having a child. They will be a free form of entertainment. Who needs TV once they start talking?

I would stop Roth IRA contributions and cut the budget. Pile up cash.

Hoosier
by SC Hoosier
Sat Apr 26, 2014 6:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Am I stupid if I use my Roth IRA for a home downpayment?
Replies: 28
Views: 3441

Re: Tell Me I'm Stupid To Consider Quitting My Job and Movin

Maybe pick a town you like, hang out your shingle and take the cases you want. Be your own boss. Set your hours. Make good money while you are at work. Enjoy yourself when you aren't.

Brainstorming.

Hoosier
by SC Hoosier
Thu Apr 24, 2014 12:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tell Me I'm Stupid To Consider Quitting My Job and Moving
Replies: 123
Views: 28795

Re: Tell Me I'm Stupid To Consider Quitting My Job and Movin

Seems stupid. The things you mention you want to do you can do with a job and being just about anywhere. Sounds like you need to take a vacation or a brief leave to recharge. +1 There have been times in my life when things were going well and I got irritated about things that weren't really importa...
by SC Hoosier
Thu Apr 24, 2014 9:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Tell Me I'm Stupid To Consider Quitting My Job and Moving
Replies: 123
Views: 28795
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