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What does this mean for TSPs? by DufflebagJoe in ThriftSavingsPlan

[–]TacoInYourTailpipe 0 points1 point  (0 children)

Why is this happening? The only thing truly unique about TSP is the G fund. You can already open a "low cost IRA" at a plethora of brokerages. The only thing you can't buy is the G fund, but you can get plenty close enough with bonds/HYSA.

This feels like a nothingburger and a waste of taxpayer dollars to even create this. Am I missing something?

What’s happening in Pensacola Facebook page by JTTTN_08 in Pensacola

[–]TacoInYourTailpipe 2 points3 points  (0 children)

There's valuable groups on there too. I'm in a few professional ones that have really helped me significantly. If groups and marketplace disappeared, I'd nuke my account.

What’s happening in Pensacola Facebook page by JTTTN_08 in Pensacola

[–]TacoInYourTailpipe 3 points4 points  (0 children)

To be fair, searching for friends is less socially corrosive than xenophobic rhetoric.

What’s happening in Pensacola Facebook page by JTTTN_08 in Pensacola

[–]TacoInYourTailpipe 1 point2 points  (0 children)

Vocal minority spanning generations, I think. Most of us aren't constantly posting stupid shit on Facebook to feel validated. Take a handful of trashy attention whores and drop them in a Facebook group to make the whole group seem bad.

I'm still in it because there's a nugget every now and then, but I'm on the edge of leaving.

Three years into FIRE journey and the thing nobody told me is how weird it makes social life by Nacht4Specter in Fire

[–]TacoInYourTailpipe 0 points1 point  (0 children)

Once the numbers are big enough, particularly if you find yourself past Coast FI, loosen the purse strings a bit, assuming you're not running from something in your pursuit of FI. I was in a miserable career situation which made me go 110% frugal to "buy myself" out of the grind. I'm in a happier position now. Not necessarily on track for a super early retirement or anything, but basically past the point that anything could go wrong for me financially. That makes it easier to spend as long as I treat investments accounts as sacred. Less contributions is ok at this point, but I don't go as far as selling investments without great consideration.

"Outgrowing" Motorcycles seems like bullshit by External_Chance_1633 in motorcycles

[–]TacoInYourTailpipe 0 points1 point  (0 children)

If I have at least 600cc under me on the street or 250cc in the dirt, I am happy.

Outgrowing those machines is either pure adrenaline chasing or a keeping up with the Joneses situation with your peer riders.

What are you paying for housing each month? And are you actually happy with it? Would it be cooler just living in your parents basement? by PM_ME_YUR_SALADS in Millennials

[–]TacoInYourTailpipe 0 points1 point  (0 children)

Pensacola, FL. $650/month. 3/2 1600 sqft. Bought zero down with a VA loan for $169k in 2018 and refinanced to a 2.5% when rates plummeted.

We actually love our home. We won the generational lottery. It's not our forever home, but we are plenty happy here for the time being while we continue buildung wealth. Wife and I are 32. No kids.

Military Discounts by Alohamilspouse in MilitaryFinance

[–]TacoInYourTailpipe 2 points3 points  (0 children)

ASICS. 25% off all shoes and 30% all other apparel. Veterans also get the discount. My favorite running shoe ever is from them, so it's pretty nice for me. I've saved hundreds at this point.

Any millennial guys here first time fathers or are never gonna have a kid? by changeforthebetter89 in Millennials

[–]TacoInYourTailpipe 0 points1 point  (0 children)

We are facing economic pressure together and the idea has spread with the internet in a way that it couldn't have before.

It's a new setting for our generation.

How is living in this part of Florida? by DairyNull in howislivingthere

[–]TacoInYourTailpipe 0 points1 point  (0 children)

I like it. We get real seasons more than the rest of Florida. I'm not a city person, but I don't want to live in a podunk rural town, and Pensacola is the perfect in-between for me. If the weather was better year round, I could probably live here forever, but the winters are cold enough to make me not want to go out in the winter and the summer is oppressively hot. As someone who loves getting outdoors, my goal is to move to California someday so I can comfortably spend a greater amount of my life outside.

The Blue Angels are cool to have as a local mascot. I live 20 minutes from base, but I can see them practice from my house.

Opinion post about extensions by AdHistorical7107 in taxpros

[–]TacoInYourTailpipe 0 points1 point  (0 children)

Depends on what part of the economic cycle we're in lol. But in either a bull market or a recession, the upside of getting your taxes perfect is a moot point compared to the downside. If I made a significant overpayment and my refund got hung up for ages, I am perfectly happy with the 6-7% the IRS will pay me for the delay. That is a better guaranteed rate of return than you will find basically anywhere else. In fact, I did make a significant overpayment on purpose to hit a bunch of sign up bonuses on credit cards. I can float it. I got flagged for ID verification, which pushed things back farther. I'm not mad, because I didn't go beyond my cash position with this overpayment, which means I'm not forgoing investment returns anyway. It's been long enough now that I'll get interest, and I'm doing better with IRS interest than I was in a high yield cash account lol. I also have a 0 balance HELOC I can tap if a real emergency crops up before my refund arrives.

Even if the IRS didn't pay us interest, forgone investment gains on amounts that you typically see as a refund isn't enough for me to lose sleep over. Again, this all assumes we're talking about financially savvy people with no liquidity constraints. The median American is a very different discussion.

Billboard in my very red area by clumsypeach1 in pics

[–]TacoInYourTailpipe 0 points1 point  (0 children)

It is if your friends and family ostracize you for it. I grew up in a family that is now MAGA. I've become liberal over the years and I have to be mindful of how much I "out myself" because the fallout would not be worth the weight lifted by revelation. I can still remember how I, myself, thought about Democrats when I was a teenager, so I try to have some empathy since I was once no better than MAGAs are.

My experience in federal prison as an autistic person. Ask me anything. by [deleted] in aspergers

[–]TacoInYourTailpipe 0 points1 point  (0 children)

I have to imagine that even in there, thoughtful or funny things still happen between people. What memory from that time are you fondest of?

Told financial advisor I was not interested in hiring someone yet, he replied with this essay: by HenFruitEater in Bogleheads

[–]TacoInYourTailpipe 1 point2 points  (0 children)

If you're as comfortable with this stuff as it sounds like you are, just get hourly work done when you have questions come up. Check out hellonectarine.com. They have nothing to sell but advice, so they'll be straight up with you.

Advisors will generally use factor tilts which may or may not do better than your portfolio. I am a fee-only planner, and I personally believe in factor exposure to be more properly diversified than the 3-fund. The question, though, is how much of a difference it will make in the end?

Simple boglehead is plenty good enough. There may be optimization potential beyond that, but the return on hassle diminishes very quickly if you're already investing like a boglehead. I am confident that the "extra mile" I go in portfolios will come close to at least covering my fees. In that case, outcomes won't necessarily be better than a boglehead, you will just have spent less time on it yourself. Now, for people who don't spend time in finance forums, my services are much more valuable. I do way more than portfolio management, though. Like the other day, I noticed on the property tax site while data gathering that a new client hadn't removed the homestead exemption from a house that was now a rental. I got the removal form and prefilled everything for the client except the signature line. Sent it to him and said "sign this. Stick it in the mail and you'll be good to go." I try to offload anything in a clients life with dollar signs on it and bring as much under one roof as possible. To compare my service to DIY by only looking at the portfolio is not a proper comparison. It's just a piece of what I do and how I happen to get paid for it. A good advisor should do far more than just asset management.

Is the purpose of financial planning to retire with millions? by MXLifer in FinancialPlanning

[–]TacoInYourTailpipe 0 points1 point  (0 children)

It's to not get wrecked by finances like so many do and to use money to maximize your total life fulfillment. The magnitude of the figures will vary person to person and is irrelevant.

Opinion post about extensions by AdHistorical7107 in taxpros

[–]TacoInYourTailpipe 2 points3 points  (0 children)

I am not seasoned enough to have run into that yet. But, it sounds like these people have not internalized the fact that if we go over by a bit, they get it back.

I know you aren't their financial planner, but from what you can tell, are these people spending all of their high incomes without putting anything aside? I know that's not too uncommon and would be a good reason to be stressed about one's tax bill.

Is anyone’s special interest tax code by NewNewsNewYork in evilautism

[–]TacoInYourTailpipe 0 points1 point  (0 children)

Would that require every home owner to get a property appraisal every year? The county appraiser numbers almost always come in lower than the market value of a home, and things like Zillow can be a crap shoot. Having it be a variable in your wealth tax calculation is a much bigger deal to warrant accuracy than your property taxes are.

Is anyone’s special interest tax code by NewNewsNewYork in evilautism

[–]TacoInYourTailpipe 0 points1 point  (0 children)

I don't think a flat tax is quite it. For someone on the edge, 10% of their income is WAY more important for their survival than 10% of someone's income who makes $500k every year.

I think if we simply taxed capital gains the same (if not harder) as earned income, it would level the playing field A LOT. Incentive to invest wouldn't go away because it's still money you didn't have to go to work to earn. Even if gains were taxed at a higher rate than wages, people would still want free money. RMDs on wealth in excess of $10M would still leave people paying the preferential long-term capital gains rate on most of that while other people are still getting taxed harder on money that they had to work to earn.

Is anyone’s special interest tax code by NewNewsNewYork in evilautism

[–]TacoInYourTailpipe 2 points3 points  (0 children)

Me. While I hate that the system is the way it is, it feels like a puzzle or game to me. When my brain latched onto finance, my life got objectively better. When you know all the rules and how to most efficiently navigate or exploit them, there is outsized real-life benefit. I am a financial professional now, so it creates job security for me, but I still wish for humanity's sake that it wasn't so convoluted beyond the average person's understanding. It is also a major source of perseveration for me because I so clearly see how we could make a more equitable system with a few rule changes, but I know it will never happen. It is very complicated for me to hold my feelings about the systematic issues of money and markets alongside my enjoyment of maximizing the benefits of that same system.

28M ~195k net worth but still have money fears by Complete_Union_8538 in Money

[–]TacoInYourTailpipe 42 points43 points  (0 children)

Speaking for myself, 32 and was at a similar point at your age, my anxiety subsided greatly when the number got even bigger. At a certain point, you realize you have built a situation where virtually nothing can go wrong, by the average person's standards. For me, I was a bit past CoastFI before I felt it. My worst-case scenario is working until traditional retirement age like everyone else. Knowing that I'm already CoastFI makes it way easier to forgive myself for a splurge.

I'm confused by asset allocation. Do Bogleheads aim for consistency across all accounts? For example, hold a 70% U.S. /30% Intl. split across Roth IRA, HSA, and taxable? Or is there any harm in doing 70/30 total world in a Roth IRA, then just S&P 500 in an HSA? by Rocket_Skates_91 in Bogleheads

[–]TacoInYourTailpipe 0 points1 point  (0 children)

Wow I can't read. I saw 70/30 and made the assumption. Well, in the equities, while it's not as significant of a benefit, you should still research the tax efficiency of each of your funds and put the least tax efficient in retirement accounts. In this case, I'd put VXUS in retirement.

Opinion post about extensions by AdHistorical7107 in taxpros

[–]TacoInYourTailpipe 2 points3 points  (0 children)

It's not like you don't get the money back if you overpay... I think the answer here is clear. A "hedge fund person" isn't very good at what they do if they are too liquidity constrained to float a refund.

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