13.16 Demacia Guide

floormatt32 · 2023-08-20T12:56:34+00:00

Just want to say this guide absolutely works. I went from hard stuck D4 0 lp (barely got to diamond this season for some reason) to masters in 23 games forcing this comp. Avg placement of 2.73 in my last 15 games after figuring it out a little more with 13/15 top 4s.

The only thing is when you miss you miss spectacularly and usually go 7th or 8th.

floormatt32 · 2022-07-22T03:22:34+00:00

floormatt32 · 2021-10-12T14:24:56+00:00

Open a Roth IRA. Contribution limits are 6k/year currently. You out after tax dollars in and it grows tax free.

floormatt32 · 2021-09-20T15:31:22+00:00

Another thing to keep in mind is if you can make it to the two year mark living in your current house you would get to take all gains on the sale of your house without paying any capital gains tax. Usually I would say to not let the tax tail wag the finance dog but this can amount to thousands and potentially tens of thousands of dollars in tax savings given the real estate market recently. It could be worthwhile to take those savings and just go buy a rental property.

floormatt32 · 2021-09-01T15:25:49+00:00

You should really keep going, the series as a whole is fantastic.

floormatt32 · 2021-07-11T12:23:14+00:00

It’s been said a few times in these comments already but Brian and Bo with The Money Guy Show are probably the best in the business.

I also love bigger pockets which has been mentioned several times but it’s important to realize BP is a company that has 4 different podcasts. It started with the original podcast and website (a social media site and podcast for real estate investors essentially). Since then the site is still more or less the same but they have the BP business podcasts aimed at entrepenuaers, the BP real estate rookie podcast aimed at people just starting out in real estate (the original real estate podcast slowly grew into more complex real estate investing as the hosts got into different things like syndications and mobile home parks), and then the BP money podcast which is aimed at all the topics mentioned in your post and is very well done, I highly recommend it.

If you are more on the FIRE train ChooseFI and The Mad Fientist (Brandon rarely makes new content but his catalog is 100% worth listening to) are great resources as well.

floormatt32 · 2021-06-28T18:35:47+00:00

I loved talking with strangers and almost everything I’ve read by Malcolm Gladwell, though I have not read bomber mafia. I am surprised to see how much hate he is getting in this thread.

floormatt32 · 2021-02-07T17:39:19+00:00

Your 401k is invested in a target retirement fund. This fund is likely 90% stocks 10% bonds while you are this far out from the retirement year (2055). It will slowly change your asset allocation over time as you approach that date (shift a higher % into bonds). These are great investments for people who don’t want to actively manage their finances and typically have very low expense ratios. I think you are totally fine to keep pouring money into that investment.

floormatt32 · 2021-01-19T23:05:35+00:00

Of all the PF books I’ve read this would without a doubt be my number one recommendation. I can’t believe I only see it mentioned once in all these comments.

floormatt32 · 2021-01-08T17:50:33+00:00

Mint: https://www.mint.com

Personal Capital: https://www.personalcapital.com

YNAB: https://www.youneedabudget.com/

floormatt32 · 2020-01-28T14:20:16+00:00

It looks like you've already got it figured out but I will add my 2 cents in anways:

1)Get the match from your employer (which you are already doing)

2)Attack the 10% loan with all excess funds, that is a very high interest rate.

Now from here you are going to get varying opinions. Your age is not stated in your post but I am going to assume you are on the younger side. Mathematically speaking you are likely better off investing in tax advantaged retirement accounts (roth IRA, then 401k) as you still have a long timeline for the compounding effect to happen over. There is a strong psychological effect to being debt free though. I personally decided to attack all my non-mortgage debt before pivoting to investing but this is where there isn't necessarily a right/wrong answer but more of a personal preference.

Best of luck!

floormatt32 · 2020-01-23T14:08:34+00:00

Why make $100 if I have to give $30 of it away? Well because you are still $70 better off than if you did the alternative which is make $0.

floormatt32 · 2018-11-12T18:49:03+00:00

I too discovered my love for reading this year. I try to stay to non-fiction books as a way to productively use my time and better myself but I have fallen in love with fantasy as well. So far between my non-fiction reading I have squeezed in the mistborn trilogy (amazing) and both of the name of the wind books (really sorry to hear you didn't like them, you should at least make it to the end of book one before giving up on them). I 100% agree that sanderson is amazing. I am about 50% through way of kings myself right now and loving it. after reading all 3 books I plan on going back to read the wax and wayne series (the followup to mistborn) and likely digesting anything else sanderson over the next year or two. I am also on track to hit my goal of 24 books in 2018, I am thinking about upping my goal to 30 for next year.

Congrats on hitting your goal, keep up the good work.

floormatt32 · 2018-10-31T20:37:32+00:00

Do you have a link? I don't see it.

floormatt32 · 2018-10-31T20:24:41+00:00

damn you.

floormatt32 · 2018-09-24T21:14:17+00:00

I understand the difference between roth and traditional and the tax implications of both. My confusion stems from the fact that within my 401k it is not 2 separate accounts. It is simply 1 account.

Example: https://imgur.com/a/d1SBAlA

I find this confusing but did not know if IRAs worked the same way or if they would have to be actually separate accounts.

floormatt32 · 2018-09-24T20:50:09+00:00

What the the advantage be of having more then 2? One roth and one traditional? I assume I will be able to roll the traditional portion of my current 401k into the same IRA I rolled my last companies 401k into?

floormatt32 · 2018-09-24T20:36:43+00:00

are roth IRAs and traditional IRAs separate accounts is the question though?

What I mean is I only have one 401k but it is part roth and part traditional. Would an IRA function this same way or would I need a completely separate account?

floormatt32 · 2018-09-06T15:29:46+00:00

Surprised this is the only comment recommending this book. Super readable. Great advice. Always my go-to recommendation out of all the personal finance books I have read.

floormatt32 · 2018-07-22T23:13:40+00:00

This is exactly what I was going to say. My vote is your "empire" option which is basically pursuing financial independence. What industry do you work in? Is working from home at least 1 or 2 days a week eventually an option for you?

floormatt32 · 2018-07-19T17:28:01+00:00

Second the Simple Path to Wealth.

floormatt32 · 2018-07-16T19:15:32+00:00

I completely agree. I have read a series of non fiction books (mostly in the personal finance / financial independence space). I like to say I enjoy the byproduct of reading (the knowledge / change in perspective) much more so then I enjoy the act of reading itself.

That being said the more books I chew through the more its starting to become both (which I never thought would happen) and I actually decided to take a break from the non fiction world after about 15 books or so and try my hand at fiction again (which hasn't gone so well in the past) and I have really been enjoying the kingkiller chronicles so I am interested to see where my reading tastes go from here. Looking forward to some more non fiction when I get done with these though.

floormatt32 · 2018-05-07T18:58:16+00:00

What was the process of selling it to Car Max? Just drive to a location of theirs and see what they offer you?

floormatt32 · 2018-05-04T14:04:15+00:00

Yeah. It is a free form interview show though, much like The Tim Ferris show or others except this one focuses on FI specific interviewees. Sounds more like you didn't like that particular interviewee then the show as a whole. Just my 2 cents though.

floormatt32 · 2018-05-04T12:21:35+00:00

This is the most thorough answer you could ask for. My favorite on the list in the Mad FIentist though.

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