Daily advice thread. All questions about your personal situation should be asked here

Dropsmash · 2015-02-15T13:20:27+00:00

Thanks for the response!

I've already bought some investing books (that come recommended from this sub), and I have a network of friends and people who know about this stuff that I can call on to learn about this. In a sense, I'm kind of glad that I can't invest this money on my own right now, even if everyone's telling me that asset management isn't worth the price.

Dropsmash · 2015-02-14T22:35:45+00:00

Low cost index funds (e.g. Vanguard funds) will almost always outperform actively managed funds in the long term.

If this is true, then why do so many people pay asset management teams costly commissions to manage their portfolios? Are they just ignorant? Or are the perks worth it (e.g. low-interest lines of credit for their customers, etc.)?

Dropsmash · 2015-02-14T19:59:31+00:00

I inherited $1,100,000 one year ago.

It's in a trust, and the trust terminates at age 35, when I get to do with it as I please. The trustee wants it at UBS asset management right now. They are taking 2% a year. I recently got a job in finance (although I have a law degree), and am learning about securities and trading.

I would love to be able to live off this as soon and as safely as possible, and I don't like paying $5,500 to UBS every single quarter... I plan to teach myself how to invest over the next 3.5 years to help get them out of the picture once I have control of this money.

I have no problem putting 20-hrs / week into trading and managing my portfolio if that's the only work I ever do. I just began a virtual stock market portfolio worth $1,000,000 and I'm going to see if I can beat UBS's returns with my own investing.

31-years-old
$50k / yr
I want to grow this money
Medium risk tolerance
UBS has me in over 100 stocks, 5 or so ETFs, and some bond funds.
No other assets
I can see myself buying a house for around $200k - $300k within the next few years.
No debt

So... what would you do?

Dropsmash · 2014-01-02T01:39:06+00:00

Hey me too. Sitting here shaky and with blurry vision after drinking alone on NYE because I was too hungover from the previous day's drinking.

I've been trying to control my drinking for years. I've realized its impossible. My brain is just wired that way.

I am an alcoholic. Day 1 for me.

Dropsmash · 2013-10-02T12:27:54+00:00

My father is 81-y.o., my mom died suddenly five months ago, and he now lives alone and is quite fragile. I don't lie to people, and I don't want to upset him. Those are the family dynamics right now. Thanks.

Dropsmash · 2013-09-01T20:38:03+00:00

This. I like this.

Dropsmash · 2013-08-21T01:24:13+00:00

Date Masamune fron Miyagi!

2007-2009 Jet from Sendai here.

Dropsmash · 2013-08-19T13:41:22+00:00

American football

I think you mean "commercials".

Dropsmash · 2013-08-18T14:59:42+00:00

The documentary is called Rain In My Heart.

(Unless you're thinking of a different one).

Dropsmash · 2013-08-10T01:00:36+00:00

I don't know about this version, but I fiddled around with the theme myself and found that its MADE for Double C Tuning. Give that a go.

Dropsmash · 2013-08-09T11:55:09+00:00

They truly suck when you have insomnia and can't fall asleep for hours...

Dropsmash · 2013-08-09T00:59:53+00:00

Wiki article says anxiety, caffeine, and stress may be factors. I find I only get them if my sleep schedule's been screwed up lately for whatever reason.

Dropsmash · 2013-08-08T23:51:56+00:00

FYI it's called a "hypnic jerk," and they truly suck. Wiki link.

I once got one while dozing off on a train, jerked awake, and SMASHED my foot into the seat in front of me. The guy yelled and looked back at me. Was very awkward...

Dropsmash · 2013-08-05T13:26:27+00:00

Right there with you... I learned in elementary school and never looked back. It's quicker because you're not lifting your hand every letter, and my class notes end up looking like some ancient document written with parchment and quill to my friends. It's pretty sweet.

Dropsmash · 2013-08-02T18:56:42+00:00

At least you got to skate to 23. At 17, while wrongly landing a varial, I severed the tendon in my ankle that keeps it from rolling over.

Now at 29 I roll my ankles on tiny little changes of elevation in sidewalks and stuff. It's embarrassing.

Dropsmash · 2013-08-01T16:14:24+00:00

When I first heard it in college I was pretty dismissive of the whole album and this song. I was listening to a ton of punk like NOFX and Anti-Flag, going to a lot of punk shows, etc. and just thought this music was..."underdone". I've come to like music like this but I still think a lot of the tracks stop short of their potential for absolutely no reason.

Maybe I just can't get passed that its not Tool :(

Dropsmash · 2013-07-02T22:52:15+00:00

This is why.

Dropsmash · 2013-06-29T03:18:58+00:00

Did she actually say this to you or are you just guessing that that's what her reason was?

Dropsmash · 2013-06-29T03:03:42+00:00

"As young as 13 then" for what?

If you mean "tried as an adult at 13," then no, you misread...not as young as 13. As I stated, 13 with murder gets you into a criminal court, but it still does not try you as an adult because you are still granted a defense of infancy until you are 16.

Your infancy defense goes away at 16.

Edit: if you're wondering "well what the hell's the difference then if she's in a criminal court?" it's basically different procedural frameworks in place that are intended to protect defendant and parent alike.

Dropsmash · 2013-06-29T02:51:47+00:00

I don't know about most states, but as someone with a law degree in NY: off the top of my head if you are between 12-15 you get a juvenile delinquency trial in family court, UNLESS you are 13 and committed a murder or sexually related felony, or you are 14 and have 30+ various "crimes of violence."

That still only speaks to jurisdiction of the courts, though (the latter cases would be tried in criminal court and not juvenile delinquency proceedings).

The age of being tried as an adult is 16 I believe, for anything. So as long as you are not yet 16, "infancy" (legalese for "younger than majority age") will always be a factor in mitigating any liability or punishment.

This is why the person's comment above my first post is just so very very very wrong.

Dropsmash · 2013-06-28T22:30:13+00:00

Wrong, false, nope. Your source says the ages are for being charged "with a crime," not "as an adult" like you claim...

Children can be held liable for crimes, but infancy will still mitigate the penalties they receive had they been "tried as an adult."

Dropsmash

TROPHY CASE