Search found 766 matches

by Cycle
Sun Nov 18, 2018 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: [Financial] Habits of the Rich
Replies: 181
Views: 22874

Re: [Financial] Habits of the Rich

$20M is not going to be made by being frugal, investing in index funds, 60/40 allocation, rebalancing, other Boglehead rules of thumb, on a $200k/yr salary. Rich is not in the cards for this person. Well off yes. With that said: Habits/skills 1. Take risks (willing to risk it all) 2. Real estate (l...
by Cycle
Sun Nov 18, 2018 9:40 am
Forum: Investing - Theory, News & General
Topic: Investing idea--what am I missing?
Replies: 13
Views: 1316

Re: Investing idea--what am I missing?

Just pick an AA, dont change your AA, automatically buy, don't hoard cash and try to market time, rebalance regularly, max out your tax advantaged accounts including backdoor roth, tax loss harvest. Don't try to be a day trader. The market is efficient and has all the information you have and more. ...
by Cycle
Sat Nov 17, 2018 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: How Long / Hard To Become a Millionaire on Under $100k Income
Replies: 131
Views: 10421

Re: How Long / Hard To Become a Millionaire on Under $100k Income

If we get enough inflation, we can all be millionaires! A million isn't what it used to be, and it won't be what it is now. Live life well, save prudently - and, while goals matter, maybe don't worry too much about the 7 figures? Many BHs read The Millionaire Next Door, which was published in 1996,...
by Cycle
Sat Nov 17, 2018 10:26 am
Forum: Personal Finance (Not Investing)
Topic: How Long / Hard To Become a Millionaire on Under $100k Income
Replies: 131
Views: 10421

Re: How Long / Hard To Become a Millionaire on Under $100k Income

I did do some (a lot) day trading in my 401(k). Only used three funds, S&P 500, Stable Value & company stock fund (Dow Stock). A group of us at work would gather together around 3 pm each day. Some employees even called in from NY City to get in on the conversation. We would talk about the current ...
by Cycle
Fri Nov 16, 2018 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: [Financial] Habits of the Rich
Replies: 181
Views: 22874

Re: [Financial] Habits of the Rich

Rich is a tough term to define. My definition would be $10M for every $100k you need to cover expenses. For example if your lifestyle required ($200k minimum) to cover living expenses you would need to have $20M to be considered rich (my definition). Why? I just made it up. But if you think about i...
by Cycle
Fri Nov 16, 2018 2:25 pm
Forum: Investing - Help with Personal Investments
Topic: Mortgage payoff given new 2018 tax code
Replies: 15
Views: 1853

Re: Mortgage payoff given new 2018 tax code

I'd save the .6% and pay it off. I paid mine off despite the logical thing being to keep it.... But there's something to be said for having less financial obligations... 12 less bills to pay every year
by Cycle
Fri Nov 16, 2018 11:14 am
Forum: Personal Consumer Issues
Topic: One food I could never give up
Replies: 33
Views: 1710

Re: One food I could never give up

There is no food I could never give up. Heck I could even give up water, just switch to meade like in colonial days. A food that would be tough for me to give up would be cheese. I've tried many a diet, and have been mostly Paleo the last few years, but I have tried several times to remove cheese an...
by Cycle
Fri Nov 16, 2018 8:53 am
Forum: Personal Consumer Issues
Topic: fuel for snowblower
Replies: 86
Views: 4446

Re: fuel for snowblower

Interesting. Not sure if you are cautioning me away from buying too many mechanical devices I don't need or just sharing your story (it's early and only 1 coffee in my system, haha). However, I had the opposite approach; home ownership and refusing to buy anything new or fancy until the massive sno...
by Cycle
Fri Nov 16, 2018 8:36 am
Forum: Personal Finance (Not Investing)
Topic: How Long / Hard To Become a Millionaire on Under $100k Income
Replies: 131
Views: 10421

Re: How Long / Hard To Become a Millionaire on Under $100k Income

One answer: car payments. Drive into the local Walmart Neighborhood market. People shop their because they are trying to save money, its freaking horrible to shop their. Look in the parking lot. It will be filled with late model cars. These people are being killed by car payments. What happens when...
by Cycle
Fri Nov 16, 2018 8:26 am
Forum: Personal Finance (Not Investing)
Topic: How Long / Hard To Become a Millionaire on Under $100k Income
Replies: 131
Views: 10421

Re: How Long / Hard To Become a Millionaire on Under $100k Income

As an individual, for much of my career my income was under 100k. I was very excited when it tipped the 100k threshold maybe 4 years ago. Out of college, I started off with 0 debt and 40k to use for grad school. I ended up having work pay for most of grad school, used the rest of that money to help ...
by Cycle
Thu Nov 15, 2018 10:59 pm
Forum: Personal Consumer Issues
Topic: Did millennials really get the short straw?
Replies: 16
Views: 2089

Re: Did millennials really get the short straw?

I'm a millennial, I'm doing very well and all my roommates from college are as well. I'm certainly on a brighter track than my father and he was a surgeon.
by Cycle
Thu Nov 15, 2018 1:31 pm
Forum: Personal Consumer Issues
Topic: fuel for snowblower
Replies: 86
Views: 4446

Re: fuel for snowblower

Getting rid of the snow blower and lawnmower were major time savers for me. Reel mowers and shovels simply require no maintenance, except a sharpening every few years. Tip is only applicable to small driveways/lawns tho. It's good that you did this but for many up north, scrapping a snowblower simp...
by Cycle
Wed Nov 14, 2018 10:23 pm
Forum: Personal Consumer Issues
Topic: International Travel during Maternity/Paternity
Replies: 86
Views: 3535

Re: International Travel during Maternity/Paternity

This is probably true (though we’re pretty frugal on plane tickets in general, so the extra ticket was never a lot of money for us in absolute terms). More to the point, I got the impression from the nature of the question that the OP might also “have more money than most”. Yeah, but OP is more che...
by Cycle
Tue Nov 13, 2018 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone change career/ start over again?
Replies: 8
Views: 1758

Re: Anyone change career/ start over again?

Michael Jordan played baseball after retiring from basketball. Advice... Follow your passion, but don't expect to become an all-star in your new persuit right away... Could take a decade
by Cycle
Tue Nov 13, 2018 8:35 pm
Forum: Personal Consumer Issues
Topic: fuel for snowblower
Replies: 86
Views: 4446

Re: fuel for snowblower

Getting rid of the snow blower and lawnmower were major time savers for me. Reel mowers and shovels simply require no maintenance, except a sharpening every few years. Tip is only applicable to small driveways/lawns tho.
by Cycle
Tue Nov 13, 2018 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: [Financial] Habits of the Rich
Replies: 181
Views: 22874

Re: [Financial] Habits of the Rich

I would have to debate calling most people here rich. To me, rich is at the level when you are well past the FIRE stage (Financial Independence, Early Retirement). Of course, you can eventually become rich, but most people here would not qualify. I would say that you are rich if your assets are pro...
by Cycle
Tue Nov 13, 2018 11:45 am
Forum: Personal Finance (Not Investing)
Topic: [Financial] Habits of the Rich
Replies: 181
Views: 22874

Re: Habits of the Rich

Having a high income is the most important factor, so focus on a career that can make you a lot of money. If the spouse does that too, this can make a big difference as well. It's much easier to save and invest when a lot of money is coming in than when you have to pinch pennies and struggle with d...
by Cycle
Mon Nov 12, 2018 5:30 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 7841
Views: 1609881

Re: U.S. stocks in freefall

I'm just hoping for a much bigger drop by Wednesday, my weekly automatic buy day of vtiax and vtsax
by Cycle
Mon Nov 12, 2018 2:20 pm
Forum: Investing - Help with Personal Investments
Topic: Is maxing out Tax defered 401(k) enough?
Replies: 49
Views: 4850

Re: Is maxing out Tax defered 401(k) enough?

I maxed out my 401k for the last 12 years and am 35. For some reason my 401k has 500k in it tho... So for me yeah, maxing is sufficient. I think you must be late to the savings party, but it doesn't matter, you just won't be one of those FIRE bloggers if u keep up your current spending. A lot of peo...
by Cycle
Sat Nov 10, 2018 8:22 pm
Forum: Personal Consumer Issues
Topic: International Travel during Maternity/Paternity
Replies: 86
Views: 3535

Re: International Travel during Maternity/Paternity

Our first started sleeping through the night at 14 months. I thought that was the worst it could be until our second who didn't do it until 21 months. I love international and adventure travel but no way would I recommend what you are proposing. I have stayed at home since the first was born. I was...
by Cycle
Sat Nov 10, 2018 8:21 pm
Forum: Personal Consumer Issues
Topic: International Travel during Maternity/Paternity
Replies: 86
Views: 3535

Re: International Travel during Maternity/Paternity

Man, that's an outstanding amount of paid time off. Is that including your vacation time or do you both just get that time off post-child birth? Would you mind sharing what kind of work you both do? We only get 2 weeks off and then my wife has to take 4 weeks short term disability, even then that's...
by Cycle
Sat Nov 10, 2018 4:43 pm
Forum: Personal Consumer Issues
Topic: International Travel during Maternity/Paternity
Replies: 86
Views: 3535

Re: International Travel during Maternity/Paternity

This is just about the worst idea I have heard in a long time. As someone who just took a 10 month old to an all inclusive resort on vacation (that was booked before we knew better) it was a big mistake, personally and financially. We couldn't do any activities and our daughter got a cold that made...
by Cycle
Sat Nov 10, 2018 4:34 pm
Forum: Personal Consumer Issues
Topic: International Travel during Maternity/Paternity
Replies: 86
Views: 3535

Re: International Travel during Maternity/Paternity

I'd try to give yourself some flexibility. It might work out just fine, but maybe you'll want to return home sooner than expected. This is a good point. If we don't go too far, we can easily hit the abort button. We rented a house on Salt Cay in Turks and Caicos once... That would be a very relaxin...
by Cycle
Sat Nov 10, 2018 4:30 pm
Forum: Personal Consumer Issues
Topic: International Travel during Maternity/Paternity
Replies: 86
Views: 3535

Re: International Travel during Maternity/Paternity

We never travelled internationally with our children at that age but did frequently travel domestically. Generally it was a good experience, but it’s been several years. Travel gets harder as the baby gets older, so this seems like a good time to bond. Just don’t underestimate how tired you will be...
by Cycle
Sat Nov 10, 2018 4:04 pm
Forum: Personal Consumer Issues
Topic: International Travel during Maternity/Paternity
Replies: 86
Views: 3535

Re: International Travel during Maternity/Paternity

Worst idea ever. I would suggest staying home with your baby, then sending somebody else on the trip instead. At least then somebody will enjoy the trip, and your baby will be happier and safer. In all honesty you should have done the trip before you had a baby. This is one of the reasons people do...
by Cycle
Sat Nov 10, 2018 3:25 pm
Forum: Personal Consumer Issues
Topic: International Travel during Maternity/Paternity
Replies: 86
Views: 3535

Re: International Travel during Maternity/Paternity

But would you rather do that or take a 6 week trip with the kids when they can enjoy it too? Or retire 6 weeks early? You're convinced you don't need the leave for the conventional purpose so at least try to work a deal. we're already FI, not interesed in super early FIRE. can take sabbatical in th...
by Cycle
Sat Nov 10, 2018 1:20 pm
Forum: Personal Consumer Issues
Topic: Point and shoot camera
Replies: 114
Views: 4814

Re: Point and shoot camera

The suggestions for a DSLR and mirrorless are on topic. A point and shoot is simply not worth it. That's why you never see them anymore. You're better off buying the latest smartphone or a real camera. As far as budget, a used or refurbished older camera is perfectly fine. Weird, i see point and sh...
by Cycle
Sat Nov 10, 2018 1:09 pm
Forum: Personal Consumer Issues
Topic: Point and shoot camera
Replies: 114
Views: 4814

Re: Point and shoot camera

I bought a Sony RX100 V for $600 used on ebay. This camera takes phenomenal photos and does well in low light, I previously owned the I, II, & III. It is the best camera to take mountain climbing, dslr quality without the weight. I bought a Canon PowerShot SX730HS used on ebay for $120. I use this ...
by Cycle
Sat Nov 10, 2018 1:02 pm
Forum: Personal Consumer Issues
Topic: International Travel during Maternity/Paternity
Replies: 86
Views: 3535

Re: International Travel during Maternity/Paternity

But would you rather do that or take a 6 week trip with the kids when they can enjoy it too? Or retire 6 weeks early? You're convinced you don't need the leave for the conventional purpose so at least try to work a deal. we're already FI, not interesed in super early FIRE. can take sabbatical in th...
by Cycle
Sat Nov 10, 2018 12:32 pm
Forum: Personal Consumer Issues
Topic: International Travel during Maternity/Paternity
Replies: 86
Views: 3535

Re: International Travel during Maternity/Paternity

Have you ever cared for an infant? If not, please get some experience babysitting before you plan this. I'd suggest you consider using your paternity time to be at home with your wife new baby as she heals from childbirth, instead of the last 6 weeks traveling the world! No, but it appears to be he...
by Cycle
Sat Nov 10, 2018 12:27 pm
Forum: Personal Consumer Issues
Topic: International Travel during Maternity/Paternity
Replies: 86
Views: 3535

Re: International Travel during Maternity/Paternity

What is it you plan to see in your travels? When we adopted our first infant child, while waiting for the legal go ahead to leave the state, we went to the zoo. In an entire day, we saw 2 animal exhibits. In my humble opinion, travel during this time is silly. We also adopted a second, 4 years late...
by Cycle
Sat Nov 10, 2018 11:04 am
Forum: Personal Consumer Issues
Topic: International Travel during Maternity/Paternity
Replies: 86
Views: 3535

International Travel during Maternity/Paternity

We are expecting our first child in January and likely going to do some international travel during our maternity/paternity paid time off. My wife (age 36) gets 20 weeks off, and I (age 35) get 6 weeks paid time off. We are looking into traveling with the baby weeks 14-20. Mid April - End of May. On...
by Cycle
Sat Nov 10, 2018 10:12 am
Forum: Personal Consumer Issues
Topic: Point and shoot camera
Replies: 114
Views: 4814

Re: Point and shoot camera

I bought a Sony RX100 V for $600 used on ebay. This camera takes phenomenal photos and does well in low light, I previously owned the I, II, & III. It is the best camera to take mountain climbing, dslr quality without the weight. I bought a Canon PowerShot SX730HS used on ebay for $120. I use this p...
by Cycle
Sat Nov 10, 2018 12:08 am
Forum: Personal Consumer Issues
Topic: aerobic exercise: rower vs. treadmill and elliptical
Replies: 44
Views: 3812

Re: aerobic exercise: rower vs. treadmill and elliptical

Whatever you choose do something sustainable, ie something you can do everyday. For me that is biking 6-7 days a week and jogging a couple days. I didn't buy a house with room for exercise equipment, but I imagine if I had such equipment I wouldn't use it much, since outdoors is nice. The appropriat...
by Cycle
Mon Nov 05, 2018 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Son has job offer in Nashville, can he survive on base of 33K
Replies: 16
Views: 2468

Re: Son has job offer in Nashville, can he survive on base of 33K

If he can forgo a car and live with roommates he'll be fine until he finds a more lucrative opportunity.

To OP, do you "help" him out... I would think making ends meet on 33k without assistance would be an invaluable lesson on budgeting.
by Cycle
Sun Nov 04, 2018 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching kids there is an ample amount of money
Replies: 108
Views: 7965

Re: Teaching kids there is ample amount of money

I think it would especially hit home on a family trip to a 3rd world country and seeing people living in shacks. I have hundreds of people living in tents a few miles from my house. In my neighborhood, I have bucket people, ie people who have no furniture but 5 gallon pales and sleep on the floor o...
by Cycle
Sat Nov 03, 2018 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Is it more advantageous to live in HCOL or LCOL area in terms of financial independence?
Replies: 180
Views: 11018

Re: Is it more advantageous to live in HCOL or LCOL area in terms of financial independence?

A city janitor in San Francisco working over time makes $270k per year.

http://time.com/4555692/san-francisco-b ... or-salary/

A janitor in central America doing the same job and working similar hours might make $2k. I think hcol is where it is at for Janitors.
by Cycle
Fri Nov 02, 2018 10:38 pm
Forum: Personal Consumer Issues
Topic: selling overseas on ebay
Replies: 8
Views: 665

Re: selling overseas on ebay

Same. I once tried it, but the auction winner didn't pay and that turned me off.
by Cycle
Fri Nov 02, 2018 9:43 pm
Forum: Personal Consumer Issues
Topic: Multiple newspaper and magazine subscriptions - how much do you pay to stay informed?
Replies: 51
Views: 2374

Re: Multiple newspaper and magazine subscriptions - how much do you pay to stay informed?

RB digital is an app my library uses. I read the economist and outside. Its included in my tax bill, ie it's "free"
by Cycle
Fri Nov 02, 2018 9:13 pm
Forum: Investing - Help with Personal Investments
Topic: Where should I be financially at 39?
Replies: 42
Views: 5895

Re: Where should I be financially at 39?

My wife and I started saving in our early twenties, and in 4 years at 39 we should have 2.2MM-ish There's no magic number, we plan on working indefinitely, but hopefully with the freedom to work part time. Megacorp will likely not be suoer appealing a decade from now. We were "fi" couple years ago s...
by Cycle
Fri Nov 02, 2018 6:35 pm
Forum: Personal Consumer Issues
Topic: Engineering school
Replies: 66
Views: 4850

Re: Engineering school

Marquette has excellent engineering programs, small class sizes, scholarships that will make it the same or cheaper than in state tuition if you have good stats.

Joining a solar car team is a good way to get the attention of employers
by Cycle
Thu Nov 01, 2018 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Is an MBA worth it these days?
Replies: 53
Views: 6310

Re: Is an MBA worth it these days?

I contemplated an MBA, and even started studying for the gmat... I decided to get a master's in engineering instead. I figured most business concepts can be learned through application. There are plenty of resources to educate ones self. Many of the best business books on all topics are organized an...
by Cycle
Wed Oct 31, 2018 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: Becoming frugal
Replies: 81
Views: 10855

Re: Becoming frugal

These steps have served us well. We have small incomes but save a LOT! Get rid of Amazon prime. Too easy to spend money on crap you don't need. Get rid of cable. Use only a work mobile phone (if provided). Get rid of land line phone. Stop eating out. Learn to cook. If you eat out, find a reasonable...
by Cycle
Wed Oct 31, 2018 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Becoming frugal
Replies: 81
Views: 10855

Re: Becoming frugal

I am surprised no one mentioned this, it might be the most important of all: Choose your spouse carefully. Do me a favor and tell me that 50 years ago. I always advise our undergraduate interns at work that their first vehicle should be a minivan. It will scare away any spendthrift suitors and as a...
by Cycle
Wed Oct 31, 2018 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: Becoming frugal
Replies: 81
Views: 10855

Re: Becoming frugal

I'm a 65-70% net saver. I see many postings that scream penny wise pound foolish. Cutting your own hair will accelerate retirement days (which I do by the way), but there are much bigger levers that can be pulled. Here are some massive frugal levers I pulled: I had work pay for grad school. I live i...
by Cycle
Wed Oct 31, 2018 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Time to sell our condo? Advice needed.
Replies: 24
Views: 2583

Re: Time to sell our condo? Advice needed.

Your HOA seams reasonable to me. You probably get things in exchange for that fee. Sfh owners are constantly dumping money into their properties for "upgrades" or repairs. Brake those down to monthly numbers and your HOA fee likely will look like a bargain. I used to despise my $300 HOA, but now tha...
by Cycle
Wed Oct 31, 2018 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating ROI for PhD
Replies: 86
Views: 4776

Re: Calculating ROI for PhD

Even at a master's level, I'd advise getting something in a core engineering discipline vs systems engineering or human factors. You can take an elective in those subjects, but a cs or mechanical masters will have greater value than a systems PhD. I'm saying this after I earned a master's degree in ...
by Cycle
Tue Oct 30, 2018 9:03 pm
Forum: Personal Consumer Issues
Topic: Talk me out of buying a Tesla Model 3
Replies: 295
Views: 19155

Re: Talk me out of buying a Tesla Model 3

Californians will be some of the first to abandon their personal cars. Waymo now has a permit to operate driverless cars there (no safety driver), including conditions of light rain and fog. This is the first company to be granted the permit in California, and Arizona is the other state where Waymo ...
by Cycle
Tue Oct 30, 2018 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating ROI for PhD
Replies: 86
Views: 4776

Re: Calculating ROI for PhD

I have a meng in systems engineers and sit in that role on two projects. Used to have a csep cert. An experienced indispensable systems engineer will have lots of experience writing requirements and modeling systems, and this experience is best gained from sitting in that role on a variety of progra...
by Cycle
Tue Oct 30, 2018 2:45 pm
Forum: Personal Consumer Issues
Topic: Talk me out of buying a Tesla Model 3
Replies: 295
Views: 19155

Re: Talk me out of buying a Tesla Model 3

Seems like a lot of money to be spending on a personal vehicle. I'd divert that money to retirement savings. Self driving fleets are coming very soon. Just spent the weekend in Berlin and we used a car sharing service to get around, like "city bike". The cars, all Audis, are left around the city in...