Search found 73 matches

by plantingourpennies
Sat Aug 17, 2019 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone retire in their 30s?
Replies: 108
Views: 17121

Re: Anyone retire in their 30s?

Remote work seems to be pretty feasasable in the current hiring environment (read: economy), particularly for tech workers.

I don't have hard technology skills (coding, QA, networking, platform administration) but there are a number of roles that I'm qualified for that offer remote work. Technical writer, project manager, many types of sales roles and Business Analyst. Fire up your favorite job site and just search for "remote" or "work from home."

Don't look at this as "retired," just think of it as taking a sabbatical while you find something more interesting.
by plantingourpennies
Sat Aug 17, 2019 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone retire in their 30s?
Replies: 108
Views: 17121

Re: Anyone retire in their 30s?

I FIRED a little over a year ago at 36.

It's been a good year. Stress is a repetitive injury and it takes some rehab to get rid of the bad mental habits you've probably accumulated.

Having said that, I'm getting bored and am starting to talk with friends about starting a business, joining a startup, etc. If the right opportunity came up in a big company, i'd probably take it.

My guess is that anybody who has the drive to put together a couple million in net worth by their mid 30's will be happier retiring to something rather than from something. AFter a while this stuff has to more to do with lifestyle design than withdraw rates.

Hope this helps.
by plantingourpennies
Fri Jul 26, 2019 12:36 pm
Forum: Personal Consumer Issues
Topic: Worthwhile to repair Honda Push Mower or buy new?
Replies: 28
Views: 3986

Re: Worthwhile to repair Honda Push Mower or buy new?

I have a honda hr214 and a honda hr215, from the mid and late 1980's, respectively. I love them, and restored the hr214 about 9 years ago, but will soon be buying a battery powered mower. Gas mowers, especially old ones, emit massive amounts of greenhouse gasses. Some of this has to do with the design of the engine, but it's also because they don't have catalytic converters. Statistics vary, but one gas mower run for an hour can emit as much as 11 to 40 late model cars over the same time period-it's massive! Here is a link with citations that give a deeper explanation-https://cleanairyardcare.ca/sustainability/environmental-facts/ I love these old mowers, and before I found out how much they pollute I'd have encouraged you to fix it. Knowin...
by plantingourpennies
Sat May 11, 2019 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Advice sought for my Son, Career and Investing
Replies: 14
Views: 1255

Re: Advice sought for my Son, Career and Investing

Not sure how excited he is with the job, but he understands he needs to "make a living". how does he meet people and still enjoy his youth? I understand that these are good problems to have but I'm out of my league as to how you "Professionals" live? I will get him to read Bogle's "Little Book" I just want him to get some guidance from someone who has been down a similar path, I haven't. I grew up in Appalachia around farmers, miners, mechanics, machinists, contractors, etc, and then made my career in IT consulting. Lots of stuff is the same; if you work hard doors will open for you. If you lie, it'll catch up with you eventually, etc. Some things are different-he'll get judged more by what he wears, so he sho...
by plantingourpennies
Mon Apr 22, 2019 9:32 am
Forum: Personal Consumer Issues
Topic: Can one own a Porsche 911 that is not a money pit?
Replies: 86
Views: 15281

Re: Can one own a Porsche 911 that is not a money pit?

This question is roughly equivalent to, "Can I pick 5 stocks that will out perform the market over the next X years?"

Yes, it's possible, and you'll hear from a few people that have done it, but it's more likely that you'll get a money pit.

Beware stories of ROI that occurred in the past decade or so. Toy car valuations follow market valuations, and porsche in particular is a "hot" car right now.
by plantingourpennies
Fri Mar 29, 2019 4:42 pm
Forum: Personal Consumer Issues
Topic: Tattoos and Bogleheads
Replies: 180
Views: 15478

Re: Tattoos and Bogleheads

Finally, some data! First from Dalia Research Group in germany. Sample size >9k across 18 countries. Link-https://medium.com/daliaresearch/who-has-the-most-tattoos-its-not-who-you-d-expect-1d5ffff660f8 Overall, about 38% of respondents have some ink. Takeaways on age- -32% of respondents age 14 to 29 have a tattoo -45% of people age 30 to 49 have a tattoo -28% of people over 50 have a tattoo -More women (40%) than men (36%) have tattoos -Tattoos are also more popular among those with higher levels of education (32%) than those with lower levels of education (26%) -When Dalia asked respondents if they regret getting their tattoos, the majority (72%) say they don’t There is a body of research about hireability and wage equality-I did a very b...
by plantingourpennies
Thu Mar 28, 2019 6:53 pm
Forum: Personal Consumer Issues
Topic: Tattoos and Bogleheads
Replies: 180
Views: 15478

Re: Tattoos and Bogleheads

I like 'em, but don't have one. Quick story for those that think they are an indication of class... A guy at my old company (3B+ IT services) had one on his neck-he looked sharp, good salesman. I asked him about it once and he gave me a big smile and said, "It's a great [(removed) --admin LadyGeek] filter." I replied, "What the heck is an [(removed) --admin LadyGeek] filter?" He said, "Only [(removed) --admin LadyGeek] have a problem with it, so it helps me pick 'em out of a crowd quicker. I don't disagree that someone who makes a judgement based on a tattoo is an a-hole, but my sister (with degrees from Brown, Oxford, and NYU) would certainly like it if she could quit her two waitressing jobs and have one of those...
by plantingourpennies
Thu Mar 28, 2019 5:25 pm
Forum: Personal Consumer Issues
Topic: Tattoos and Bogleheads
Replies: 180
Views: 15478

Re: Tattoos and Bogleheads

I like 'em, but don't have one. Quick story for those that think they are an indication of class...

A guy at my old company (3B+ IT services) had one on his neck-he looked sharp, good salesman. I asked him about it once and he gave me a big smile and said, "It's a great [(removed) --admin LadyGeek] filter."

I replied, "What the heck is an [(removed) --admin LadyGeek] filter?"

He said, "Only [(removed) --admin LadyGeek] have a problem with it, so it helps me pick 'em out of a crowd quicker."
by plantingourpennies
Fri Mar 08, 2019 2:50 pm
Forum: Personal Consumer Issues
Topic: Espresso Maker 2019
Replies: 106
Views: 10367

Re: Espresso Maker 2019

I bought a Rancilio Silvia and a Rocky grinder in 2007 using the second pay check from my first job after college. The total back then was around $1,200. 1. Since then I have averaged between 2 and 3 shots a day, usually in the form of Americanos. Guests tell me they love it as well, but making coffee for 6 people stretches the limits of the machine-it takes time for the boiler to re-heat. 2. I have overhauled it twice, and it's probably due again- an overhaul is maybe 30 dollars in gaskets, plus some time soaking the parts. I also upgraded the heating system with a PID for around $150. The PID has failed twice and I've replace the electronics for around 35 each time. 3. Mine lives in my garage/workshop. I dislike the super automatics-it re...
by plantingourpennies
Sat Feb 23, 2019 11:52 am
Forum: Personal Investments
Topic: bitcoin guy wants to stock market
Replies: 234
Views: 16479

Re: bitcoin guy wants to stock market

450/month expenses seems unlikely unless you are going without health insurance. Even without it that is far below poverty level. i know, but that's my life. i'm a simple man. i have no rent mortgage or debt. i'm in to minimalism. i wear white t-shirts and drive a prius. $1000-2000 a month in living expenses for me is just as unlikely as $450 a month is for you. my personal challenge is to get my living expenses down even more. Hi- The popular term for what you're trying to do is called FIRE (Financial Independence, Retirement). Check out the following two forums because they are dealing with the core issues you are-how to live off a large-ish sum of money in your 30's while pursuing minimalism. Mistermoneymustache.com- More popular site, ...
by plantingourpennies
Sat Feb 02, 2019 5:06 pm
Forum: Personal Investments
Topic: Help with unwanted "retirement"
Replies: 29
Views: 5570

Re: Help with unwanted "retirement"

Welcome-I'm sorry to hear about your situation, but I think that you've received some good advice from David Jay.

Would it be possible for you to tell us what your line of work is?

I'm surprised that something that was previously lucrative could dry up completely so quickly. It may be a good idea to leverage your existing skills in a different way, albeit possibly at a lower income.
by plantingourpennies
Sat Feb 02, 2019 7:37 am
Forum: Personal Investments
Topic: Am I supposed to keep dumping any excess money in an index fund and thats it?
Replies: 39
Views: 5133

Re: Am I supposed to keep dumping any excess money in an index fund and thats it?

Is that all it is meant to be? Am I missing out on anything? Not much. There are really only three things you can control in investing; 1) How much you save or spend each year. 2) Your asset allocation which is the percent mix of stocks and bonds. 3) Keeping your investing costs low, which is more important than most people realize. In addition to mutual fund expenses this also includes investing in a tax efficient manner. ^This is a great way to look at it...I would pay particular and constant attention to 1 and 3, and not stress too much over #2. At 28 my wife and I realized we would be financially independent in 8-10 years if we cranked up how much we save. It's worked out great for us. Buy the GTR after you are wealthy-I enjoy my NSX m...
by plantingourpennies
Tue Jan 29, 2019 2:54 pm
Forum: Investing - Theory, News & General
Topic: What did you learn from 2018 in the markets?
Replies: 119
Views: 11556

Re: What did you learn from 2018 in the markets?

TheTimeLord wrote: Tue Jan 29, 2019 10:27 am I hope someday to reach a point when I consider 20% nothing, but in my case I will doubt that will ever happen. I found 2018 worse than Black Monday because for a little while it reminded me of the market rhythm from back in 2008. I think the most unusual part is most people here seem not to realize we are still down 10%.
Not sure what you mean here-the dow was down %5.6, S&P was down %6.2 2018.
by plantingourpennies
Mon Jan 28, 2019 6:47 am
Forum: Investing - Theory, News & General
Topic: What did you learn from 2018 in the markets?
Replies: 119
Views: 11556

Re: What did you learn from 2018 in the markets?

Ice-9 wrote: Sun Jan 27, 2019 10:31 am I learned that I apparently learned a lot from 2008-9[...]Stay the course. It can get way worse than 2018.
So it goes.
by plantingourpennies
Tue Dec 11, 2018 7:53 am
Forum: Personal Finance (Not Investing)
Topic: How Do You Discover Software For Your Small Business?
Replies: 7
Views: 934

Re: How Do You Discover Software For Your Small Business?

pepperz wrote: Mon Dec 10, 2018 11:55 pm Before you write a single line of code, I would recommend the following:
Pepperz is on the right track here. Do some research on how software startups work...it's easier to build a product you're sure the market wants, rather than one that you THINK they want, and then try to sell it to them.

@Pepperz, can you recommend any books or resources? I can't recall titles right now...
by plantingourpennies
Mon Dec 03, 2018 10:31 am
Forum: Personal Consumer Issues
Topic: First Triathlon. What bike to buy?
Replies: 33
Views: 2686

Re: First Triathlon. What bike to buy?

DW did a sprint triathlon a few years ago on her commuter bike. She left the panniers on, but removed the basket. She commutes 18 miles a day on her bike, and at that time was running multiple marathons per year.

We live in a wealthy retirement area, with many older gents dropping serious coin on CF bikes, shoes, Aero helmets, etc. As she passed them she would ring the bell to let them know she was coming up behind...

I offered to buy her something more appropriate, but she decided she didn't like the Tri enough to do another. I think the culture around the event bothered her-very different than marathons.

Do what your wife wants-it's her race, not yours.
by plantingourpennies
Sun Nov 11, 2018 1:58 pm
Forum: US Chapters
Topic: Armistice Day - 100 years ago today, the ending of World War One
Replies: 10
Views: 1297

Re: Armistice Day - 100 years ago today, the ending of World War One

oldzey wrote: Sun Nov 11, 2018 10:31 am Thank you to all who have served in the military.

https://en.wikipedia.org/wiki/In_Flanders_Fields
Yes, thanks to all that served.

https://en.wikipedia.org/wiki/Dulce_et_Decorum_est
by plantingourpennies
Wed Oct 31, 2018 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: IT Career Advancement-What path?
Replies: 37
Views: 3718

Re: IT Career Advancement-What path?

If you want to try something completely different (and probably more lucrative) consider getting into technology sales.

Most technologies that you use requires people to sell it-and those people have to be knowledgable enough about it to converse with people like yourself as well as the business leaders.

There are technical roles in sales that parter with the sales guy during the sale. While the sales guy is talking about prices and inviting VPs out for golf, the technical guy is talking to the prospect's team to confirm that that the product really will work for their environment-it's an important role, and is really well paid
by plantingourpennies
Mon Sep 24, 2018 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: How to evaluate a pay package of a startup
Replies: 14
Views: 2229

Re: How to evaluate a pay package of a startup

I am getting an offer from a startup with 50-100 employee. Do folks , who joined startup mid career have some article/lessons that they can share so that I can roughly estimate the startup offer? I've watched others get lured by equity at a startup. In the cases that I've seen the equity has turned out to be worthless or close to it. 1. The work is sometimes so grueling that you'll never make it through the vesting period. 2. Dilution is a huge risk-many startups issue more shares as time goes on 3. The failure rate of a startups is horrific. The oft-quote industry statistic is that only 5% ever reach a liquidity event-i.e. a time when you would be compensated. It's kind of like stock market-the playing field is tilted towards the big guys...
by plantingourpennies
Mon Sep 17, 2018 9:51 am
Forum: Personal Consumer Issues
Topic: a low grade in a 9th-grade test
Replies: 44
Views: 4853

Re: a low grade in a 9th-grade test

At some point in schooling your natural ability runs out, and you have to "learn how to learn."

This is a meta-skill that will help them the rest of their lives, and includes things like how to take notes, how to study, how to ask teachers for help, and how to form study groups. Other supporting skills like time prioritization and reading comprehension also improve.

It's way better to learn how to learn in 9th grade, rather than college.
by plantingourpennies
Sun Sep 09, 2018 10:10 am
Forum: Investing - Theory, News & General
Topic: Question: Alternatives to Berkshire
Replies: 15
Views: 2210

Re: Question: Alternatives to Berkshire

bgf wrote: Sun Sep 09, 2018 9:49 am Markel (MKL).I've owned it for a few years now. Like Berkshire, it is a profitable insurance company that invests in public equities as well as a diversified set of wholly owned operating companies, known as Markel Ventures.
Markel came to mind as well. I have no opinion on their abilities, but they are very much trying to replicate BRK's structure and strategy.
by plantingourpennies
Thu Aug 02, 2018 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Realities of Early Retirement Model (FIRE)?
Replies: 96
Views: 11824

Re: Realities of Early Retirement Model (FIRE)?

We haven't had a crash lately. So the recent FIRE people have no perspective on that. When you are pulling $30k from your accounts, and the accounts are still growing, it's pretty easy to be stoked about your plan. We haven't gotten any reports yet from anyone living minimally for 30-50 years to see if life is just as great at 60 with low income as it is at 30 with low income. Agreed on the first part-it's going to be fascinating to see what happens if we have another 50% dip. Some people may have to (gasp) get a side job or lower their yearly spend. Disagree on the second part-we have a lot of data which says that after basic needs are met happiness isn't tied to material wealth. https://www.smithsonianmag.com/smart-news/the-worlds-happie...
by plantingourpennies
Thu Aug 02, 2018 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Realities of Early Retirement Model (FIRE)?
Replies: 96
Views: 11824

Re: Realities of Early Retirement Model (FIRE)?

You really think this is a new idea versus a rebranding of something that people have done forever? The only new part is talking about it on the net:) I remember a ski instructor from 20 years ago Well, yeah, I do think it's a new (and challenging) idea for the vast majority of the population. The math that underpins it (4% rule) wasn't available till the early 90's, and if you look at the number of books and articles that have been written there is just a huge uptick in the past...10 years or so. Before that I can really only think of one (YMOL) and some publications that focused more on homesteading (Tightwad gazette). As a concept, it's always been around, but nowhere near this level of popularity. It is jarring for most people because ...
by plantingourpennies
Tue Jul 31, 2018 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Realities of Early Retirement Model (FIRE)?
Replies: 96
Views: 11824

Re: Realities of Early Retirement Model (FIRE)?

I think FIRE is a misnomer. It's not that most of these 30 somethings really are financially independent, nor have they retired. Yes, Pete was definitely financially independent as defined by the 4% rule. So for a lot of young "back peddlers"....because that's what they are.... Yeaaah...I don't think that "back peddlers" really fits this group-most have grinded, hustled and saved for 7-10 years. Putting together 1.xM net worth by your mid 30's is no mean feat, and designing a life that is more rewarding (for them) is something to be admired. I see lots of them donating time/money to charity, or moving on to work that is more important to them, but less lucrative. Agree with @fireproof, a very small percentage of the com...
by plantingourpennies
Tue Jul 31, 2018 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Realities of Early Retirement Model (FIRE)?
Replies: 96
Views: 11824

Re: Realities of Early Retirement Model (FIRE)?

Most of the math that the FIRE community uses comes from the regular retirement community-4% rule, trinity study, it's all the same stuff. Even the boglehead investing style (low-cost mutual funds) is very popular choice for the FIRE crowd. Unfortunately we also inherited/stole the word "retirement." And it drives people...up...the...wall. It's a new idea, and it's jarring- "How dare this punk kid RETIRE at 30! I slaved away for 40 years in a cube farm for MegaCorp and liked it darnit!" And the next thing you know people are posting all the reasons why it must be impossible to do this at a young age (despite what the math says). Just substitute "retirement" for "Probably never having to work for the man ag...
by plantingourpennies
Fri Jul 27, 2018 4:58 pm
Forum: Personal Consumer Issues
Topic: Toughest Purchase of my Life. Engagement Ring time
Replies: 229
Views: 21803

Re: Toughest Purchase of my Life. Engagement Ring time

What an odd thread.

OP has managed to ask everybody in the world except the one person that has the answer and would happily share it-his finance.

Good luck OP! :sharebeer
by plantingourpennies
Thu Jul 26, 2018 1:29 pm
Forum: Personal Consumer Issues
Topic: Do Honda Mowers Leave Un-cut Grass Strips? [YES, but...]
Replies: 101
Views: 64063

Re: Do Honda Mowers Leave Un-cut Grass Strips? [YES, but...]

Hawk.eye wrote: Sun Jul 22, 2018 8:04 am I currently own 2 Honda mowers. HR 214 (20+ years old) cuts perfectly, starts on the first pull, and has the suction of a vacuum cleaner. The engine has a very short stroke wearing the ring faster and it starting to smoke when it's cold. I still love this machine.
I bought a new Honda HRX 217, top of the line. It has the dual mulching blades as well. I noticed a uncut strip on the right side of the 21" cut.
Keep the Honda Hr214-it's a bit of a legend. You can either put a new honda gxv120 motor on it (yes, the gxv120 is commercial grade), or have somebody re-ring the existing engine.

Instead of buying a new mower, OP would have been better off buying a used hr214/hr215 and paying a local shop to mechanically restore it.
by plantingourpennies
Sat Jul 21, 2018 10:17 am
Forum: Investing - Theory, News & General
Topic: I may have understood why it's so hard to save and invest
Replies: 81
Views: 15499

Re: I may have understood why it's so hard to save and invest

davidsorensen32 wrote: Sat Jul 21, 2018 8:57 am Two words - STOP WHINING
That was uncalled for-and not helpful. We're here to help/support our fellow investors, not berate them.

@OP-I felt the same way when I started investing. The first $1500 is the hardest!

It's probably worthwhile to try and increase your earnings power-investing became a lot more fun when I could put away 20, 30, or 40% of my income.
by plantingourpennies
Fri Jul 13, 2018 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 164
Views: 25753

Re: Early retirement

AlwaysWannaLearn wrote: Fri Jul 13, 2018 5:11 pm I've realized that I need to develop a "communication strategy", and have already started doing so.
Just went through this at 35, had no strategy and yes, it felt awkward.

We told a few friends and family our financial situation so they wouldn't worry. Beyond that, I told my team at work I was leaving. A couple asked more questions and were confused that I didn't have another job lined up. Some of my former workmates are still sending me job opportunities-which is really kind of them.

Just tell them you're on sabbatical-it's true in a sense, and won't raise any eyebrows. If the sabbatical lasts the rest of your life, so what?
by plantingourpennies
Thu Jul 12, 2018 7:40 am
Forum: Personal Consumer Issues
Topic: Tool cabinets?
Replies: 32
Views: 3306

Re: Tool cabinets?

Just go to Sears or Lowe's and get a Craftsman model. Most of them are still made in the US and priced competitively. No need to over complicate this. I took the cheapo Craftsman toolboxes that this roller replaced and put them out on the sidewalk with a free sign. :annoyed Craftsman used to be quality, but they have really slid. Granted, those were yardsale specials that had lived a life of abuse, but their construction was so bad that they depressed me. The drawers would stick and jam, the lid never shut right, and everything was plastic that could be. Ugh. :x DO NOT go with Craftsman-their toolboxes are now junk! I made the mistake of buying one in 2008. 10 years later plastic nubs that hold the drawers closed are turning into dust. The...
by plantingourpennies
Sat Jul 07, 2018 9:48 am
Forum: Personal Finance (Not Investing)
Topic: How to "retire" in your 30's article
Replies: 110
Views: 19949

Re: How to "retire" in your 30's article

I am going to a CampFI (Financial Independence) meeting in my neighborhood next month. I am sure my girlfriend and I will be the oldest attending. <snip> The financial Independence movement of these young people are talented, some come from privileged backgrounds or married well and could go a long way in the corporate world. <snip> They do NOT use the word RETIREMENT like we do here. They use FINANCIAL INDEPENDENCE. All Bogleheads want to reach financial independence. So we have a lot in common in my opinion. Yes! There is a ton of overlap between these two communities, and thus a lot to be learned on both sides. The majority of FI-heads that I talk to use vanguard for stock investments, and are very sensitive to the idea of lowering your...
by plantingourpennies
Fri Jul 06, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: How to "retire" in your 30's article
Replies: 110
Views: 19949

Re: How to "retire" in your 30's article

jminv wrote: Fri Jul 06, 2018 10:16 am I have this same problem. It’s strange considering society values the ability to become rich but find it difficult to understand when you have no outward signs of wealth (they must be poor) and when you want to retire early (what is he thinking, why would he want to do that, what’s wrong with him). I try not to talk to anyone about it.
Become part of the FIRE community-lots of blogs, forums, etc.

Or hang out IRL-seems to be a big concentration of like minded people here in Longmont, CO (they have good brownies too...), and I usually meet up with friends 2-3 times a year at Berkshire annual meeting, FINCON, or local FIRE events.

Gotta find, and be with, your tribe.
by plantingourpennies
Fri Jul 06, 2018 9:29 am
Forum: Personal Finance (Not Investing)
Topic: How to "retire" in your 30's article
Replies: 110
Views: 19949

Re: How to "retire" in your 30's article

I resigned from my job last week at 35, wife works for now. We're FI, but explaining it to people has been an exercise in futility

Calling myself either retired or financially independent creates severe mental dissonance in the mind listener.

They deny it's possible, or get defensive because it challenges their own life decisions.

I just say that I'm on sabbatical and leave it at that. It sounds less pretentious than, "I have enough money to do what I want all day."
by plantingourpennies
Wed Jul 04, 2018 11:33 am
Forum: Personal Investments
Topic: Few Questions About Early Retirement
Replies: 13
Views: 2430

Re: Few Questions About Early Retirement

Full disclosure-I just "retired" at 35. Wife is likely to follow me in a year or so.

In addition to asking this question on Bogleheads, you should also ask it on Mr. Money Mustache forum, or the early-retirement.org forum.

The answer you get will vary greatly depending what group of people you ask.

Good luck!
by plantingourpennies
Mon Jun 25, 2018 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: What is/ was your career and would you recommend it now?
Replies: 517
Views: 76762

Re: What is/ was your career and would you recommend it now?

B2B technology Sales, sales training, and then research and analysis.

I got in, got paid, and moved laterally a few times in the same company to less stressful work. Just FIRED at 35...wouldn't have been possible without learning how to sell.

If you have a humanities degree and want to make lots of money, look no further.
by plantingourpennies
Tue Jun 19, 2018 1:01 pm
Forum: Investing - Theory, News & General
Topic: What does it mean: Rule No. 1: Never lose money
Replies: 75
Views: 11494

Re: What does it mean: Rule No. 1: Never lose money

bgf wrote: Tue Jun 19, 2018 12:15 pm
first, i want to apologize for derailing this a bit, and i definitely do not want it to appear as if i am criticizing nisiprius, who is clearly a large presence on this board and im sure has helped many people.
Agreed-Nisiprius is one of my favorite posters, which makes his frequent critique of Buffett all the more baffling to me. There is no doubt that Nisiprius has done a great service for investors through participating in this forum.
by plantingourpennies
Tue Jun 19, 2018 12:52 pm
Forum: Investing - Theory, News & General
Topic: What does it mean: Rule No. 1: Never lose money
Replies: 75
Views: 11494

Re: What does it mean: Rule No. 1: Never lose money

I don’t see how you could possibly view any of what was said as criticism or attacks. The point is simply that we can’t know what he means and that he clearly can’t mean “don’t lose money" because a) it’s not meaningful advice and 2) WB has lost money before. How is pointing this out unfair? JT It's an unfair criticism because Nspirius, and yourself to some extent, are generalizing from your own inability (real or perceived) to understand Buffett's advice and saying that nobody can know what he means...which gives the perception that he isn't worth reading or listening to. The reality is that his advice to investors is generally pretty straightforward, and fairly extensive. Furthermore, I don't think that Bogleheads could ask for a be...
by plantingourpennies
Mon Jun 18, 2018 4:35 pm
Forum: Investing - Theory, News & General
Topic: What does it mean: Rule No. 1: Never lose money
Replies: 75
Views: 11494

Re: What does it mean: Rule No. 1: Never lose money

Ragnoth wrote: Mon Jun 18, 2018 4:28 pm I always assumed it was a callback to Benjamin Graham and the intelligent investor...
I actually thought this was a Graham quote as well, but a quick websearch only turned up Buffett.
by plantingourpennies
Mon Jun 18, 2018 4:03 pm
Forum: Investing - Theory, News & General
Topic: What does it mean: Rule No. 1: Never lose money
Replies: 75
Views: 11494

Re: What does it mean: Rule No. 1: Never lose money

nisiprius wrote: Mon Jun 18, 2018 3:26 pm Rule #1: Nobody actually knows what Buffett means by many of the things he says.
Rule #2: never forget rule #1.
Buffett bashing is a bit of a hobby on the forum, and for the life of me I can't figure out why.

His advice to investors is pretty clear in most instances, and in the past 15 years or so has been very similar to Jack Bogle's in regards to individual investors like those on the forum.

It's a little folksy, but rule #1 means what it says-don't lose money. People need to be reminded of this because the math regarding losses (outlined nicely in this thread) is surprising to some, and also because people tend to forget the possible downside of an investment when things have been going well.
by plantingourpennies
Fri May 18, 2018 5:43 am
Forum: Personal Consumer Issues
Topic: Bonded Leather [Office chair]
Replies: 18
Views: 3825

Re: Bonded Leather

[Spam post removed by admin LadyGeek] This is probably Spam :( But! I never turn down an opportunity to post about Vimes' boots, from books by the sci-fi author Terry Prachet. “The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money. Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles....
by plantingourpennies
Sun Apr 22, 2018 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Interesting vs higher paying job
Replies: 40
Views: 4907

Re: Interesting vs higher paying job

- "Interesting" is difficult to evaluate and compare. - "Money" is easy to evaluate and compare. ==> Thus, if you follow the money, you know what you are getting and you are less likely to deceive yourself. My advice: 1. Take a high-paying job. 2. Look for ways to make your job interesting. 3. Continue living modestly and save as much as you can. When you become financially independent you will be able to work on the most interesting self-directed projects. Victoria Victoria's point is excellent. Get wealthy first (youth and vigor helps in the begining), and then follow your interests. By putting off the higher salary until later in your career you'll lose the magic of compounding over time. As my favorite late 20th cen...
by plantingourpennies
Wed Apr 04, 2018 6:41 am
Forum: Personal Finance (Not Investing)
Topic: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-
Replies: 136
Views: 16433

Re: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-

My wife and I save about 100k per year-it's just not that difficult. After doing so for about 7 years we have the option to stop working if we wish, or do work we are more passionate about that may not pay anything. I applaud thriftiness, but I don't see why it's so important to retire early, especially if you live like you are super poor both before and after retirement. That's a lot of years with nothing to do--is that really that great? Working isn't that bad. I don't see any mention of having a family (kids) either. The purpose of life isn't to hole up and set up your life so you have nothing to do. Dancing around the living room will get old before long. Right? How about finding a job that you are truly passionate about, where you are ...
by plantingourpennies
Thu Oct 19, 2017 8:44 am
Forum: Investing - Theory, News & General
Topic: Warren Buffett Books
Replies: 55
Views: 8329

Re: Warren Buffett Books

Stryker wrote: Thu Oct 19, 2017 8:32 am "Snowball" I borrowed from the library a few years ago and skimmed through it. To be honest it wasn't Buffett I was interested in reading the book for, but about my other investment hero "Walter Schloss".
Yes! It seems there is a constellation of investors around buffett that would be interesting to read about. Schloss and Munger both come to mind.

Can you let me know of any other books about Schloss?
by plantingourpennies
Thu Oct 19, 2017 8:38 am
Forum: Investing - Theory, News & General
Topic: Warren Buffett Books
Replies: 55
Views: 8329

Re: Warren Buffett Books

I read snowball and enjoyed learning about his personal life. To me, I respected him more after knowing a bit more about him as a person.

Have not read the other two, but probably will read #3 at some point.

Have also read all of his yearly letters (including those from his first partnership, pre-Berkshire), and highly recommend them.

They are now available in a single book on Amazon.
by plantingourpennies
Fri Sep 01, 2017 6:05 pm
Forum: Investing - Theory, News & General
Topic: Robert Kiyosaki - rich dad, poor dad
Replies: 45
Views: 8863

Re: Robert Kiyosaki - rich dad, poor dad

I read Kiyosaki when I was in my teens; it was great to see the difference between an asset and liability clearly explained. Other than that, it's mostly drivel.
VictoriaF wrote: Fri Sep 01, 2017 5:22 pm I've read Rich Dad, Poor Dad, and I most emphatically do NOT recommend it.
Victoria
Victoria, I have a lot of respect for your contributions to the forum. Can you give us an idea of books (on investing, or general wisdom) that you would recommend instead of Kiyosaki?
by plantingourpennies
Sat Mar 04, 2017 3:56 pm
Forum: Personal Consumer Issues
Topic: Older car getting dents and dings :(
Replies: 26
Views: 3367

Re: Older car getting dents and dings :(

The most cost efficient way to solve the problem is to consider the small dings to be patina or wabi (see here: https://en.wikipedia.org/wiki/Wabi-sabi )

It's a 19 year old car, and I'm sure you've kept it in excellent condition. Accept that small imperfections are badges of honor from years of service and move on.
by plantingourpennies
Tue Feb 07, 2017 6:57 pm
Forum: Personal Finance (Not Investing)
Topic: Please help with real estate question
Replies: 40
Views: 4159

Re: Please help with real estate question

OP should also take note that whatever homestead exemption the property currently has will be forfeit (unless he is willing to live in the house with his parents for 6mos + 1 day of every year), and in Florida this can be significant. Its a $50K exemption on the taxable property value and a cap of 3% or CPI for annual increases to taxable value. This isn't quite as generous as CA, but it's nothing to sneeze at. Insurance may also increase as the home would not be owner occupied. Flood insurance should have an additional ~$250 surcharge on it. Not for nothing, but how much mortgage interest are you talking about? Depending on the rest of your situation, you should probably figure out if it'll even all be deductible. (None of our mortgage int...
by plantingourpennies
Sat Dec 31, 2016 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Delayed Gratification In Life & its fallacies
Replies: 56
Views: 8079

Re: Delayed Gratification In Life & its fallacies

As I read thru many posts detailing how folks at a youngish age have amassed a huge amount of money ("Hi, I am 35 and my net worth is 2M"), I tend to think that there must be a % of them that perhaps got there by saving every penny they made while living extremely frugally, forgoing the many 'pleasures' of life. Now there is nothing wrong there, but this made me curious how many times they said "oh there will be time for <insert activity/thing here> later when I am <rich|retired>" . I wonder how the other BogleHeads approach life... People are simply different-your idea of a pleasurable activity is a week in Vegas, mine is sailing around the world, reading books all day, pursuing new business opportunities or lifestyles...
by plantingourpennies
Sun Dec 27, 2015 6:52 am
Forum: Investing - Theory, News & General
Topic: Tracking Net Worth, insightful and motivating
Replies: 45
Views: 6204

Re: Tracking Net Worth, insightful and motivating

I'm convinced tracking your net worth is the single most important thing you can do to achieve wealth, especially in the beginning. It provides the right mindset and motivation for budgeting, investing, frugality and all the other traits necessary for achieving significant wealth.

We track ours monthly-the format is both an income and balance sheet similar to a business. Mint makes this very easy.
by plantingourpennies
Sat Dec 26, 2015 8:24 am
Forum: Personal Consumer Issues
Topic: Sororities: The cost of Greek Life?
Replies: 46
Views: 9565

Re: Sororities: The cost of Greek Life?

You should take a look at the statistics regarding rapes, violence and alcoholism in greek culture.

-Women in Sororities are 74% more likely to be raped, men in fraternities are 3 times as likely to commit rape.
(This is from 2 peer reviewed studies conducted in the past 10 years, here is a link to an article that discusses http://thebrownandwhite.com/2015/04/13/ ... e-culture/)

-Fraternity and sorority members are twice as likely to be binge drinkers. (Harvard study from 2000- http://archive.sph.harvard.edu/cas/Docu ... o_2000.pdf)

You can google for more.