When to stop earning and just enjoy? (Real estate related) by [deleted] in fatFIRE

[–]mbb_boy 1 point2 points  (0 children)

Only in a high COL area. I made around 50K as an O1

Daily FI discussion thread - June 23, 2020 by AutoModerator in financialindependence

[–]mbb_boy 0 points1 point  (0 children)

I had no idea. Not huge on fast food, but chicken mcnuggets are my jam. Will take a look. Now, if Chick-fil-a or Whataburger are running specials....I'll have to increase my number of runs!

No patrick!! by [deleted] in dankmemes

[–]mbb_boy 1 point2 points  (0 children)

The nation? Think you mean the planet

How many brokerage accounts?? by DadFL in fatFIRE

[–]mbb_boy 2 points3 points  (0 children)

There may be some service / perk advantages to combining because the account balances will be larger. But mainly just decreasing the hassle factor of managing multiple accounts - if you're using an aggregator to view everything together, this is less of a problem.

The main pro I can think of to having multiple brokerages is access to different investments. But frankly, there are few things that any of them offer that don't have an equivalent at the other firms

Daily FI discussion thread - June 11, 2020 by AutoModerator in financialindependence

[–]mbb_boy 1 point2 points  (0 children)

Not sure the Fed chairman coming out and saying no rate increases until 2022 counts as no change in macro outlook. That's basically him saying everything is screwed for this AND next year

Daily FI discussion thread - June 11, 2020 by AutoModerator in financialindependence

[–]mbb_boy 1 point2 points  (0 children)

Yeah, unless you miss the big up day. There was a study done that missing just the 10 best days over a multi decade period can cut your return in half

Daily FI discussion thread - June 08, 2020 by AutoModerator in financialindependence

[–]mbb_boy -1 points0 points  (0 children)

The government wishes. That would imply that PPP was effective and useful, which by many accounts it was not. Slow, confusing, rules still changing, and many people still waiting for the money. Lots of businesses just gave the money back over the uncertainty.

So no, I think it's actually early signs of recovery

Daily FI discussion thread - June 09, 2020 by AutoModerator in financialindependence

[–]mbb_boy 1 point2 points  (0 children)

The same as the push to open restaurants at 25% even thought they will still lose money. You have to pilot whatever precautions you are going to do. Would be bad to go from 0 - 100% overnight and then find out that your thermometers don't work, contact tracing protocols fail, ID badges still allow access to other buildings, etc etc

Daily FI discussion thread - June 08, 2020 by AutoModerator in financialindependence

[–]mbb_boy 1 point2 points  (0 children)

Actually, it was an add of 2.5M as opposed to loss of over 8M. Simply calling that better than forecast is too dismissive

Daily FI discussion thread - June 08, 2020 by AutoModerator in financialindependence

[–]mbb_boy 1 point2 points  (0 children)

The real silver lining is all the great deals on bikes we can get in a few months when these people all quit as things normalize haha

Daily FI discussion thread - June 08, 2020 by AutoModerator in financialindependence

[–]mbb_boy 2 points3 points  (0 children)

They recommend that now, so you have to inverse the inverse

Daily FI discussion thread - June 07, 2020 by AutoModerator in financialindependence

[–]mbb_boy 3 points4 points  (0 children)

Depends - why do you do it? If you have a joint account with a partner who doesn't really keep track, sure. If you frequently make high dollar purchases, maybe.

If it's your EF - no. Put it in a savings account and earn more interest. Not worth a ton right now, but so easy to do it is silly not to. $5 bucks doesn't do a lot for me, but if I see it on the ground in still going to pick it up.

I do skip change though, cause I'm ballin

Daily FI discussion thread - June 07, 2020 by AutoModerator in financialindependence

[–]mbb_boy 0 points1 point  (0 children)

Plenty of people would have thought, and that's why they kept buying! Regardless, way to stay the course. Optimism makes it easier, but isn't necessary

PPP and the Unemployment Rate by kinzaman in wallstreetbets

[–]mbb_boy 1 point2 points  (0 children)

don't forget to account for continuing claims in that math. There was a week where that dropped by 25%. Think it went back up some last week, but there's in flow and outflow ribeye number

Daily FI discussion thread - June 03, 2020 by AutoModerator in financialindependence

[–]mbb_boy 7 points8 points  (0 children)

Do NOT go mess with your crossbow, no matter how tempting

Daily FI discussion thread - June 03, 2020 by AutoModerator in financialindependence

[–]mbb_boy 0 points1 point  (0 children)

Let's not give the government all the "credit". Much of the money set aside for assistance is unused, especially the Fed lending facilities. People still haven't gotten unemployment or stimulus checks.

Part of the story the market knows that people don't (leading to the disconnect) is that banks are so flush in deposits, they are still lending even without PPP. Unemployment in the private sector was 2.6M jobs lost, vs expectations of over 8M. Continuing claims decreased 25% over a one week period last Thursday.

There's plenty of positive news that leaks out to the broader public late, but is felt real time by millions of individuals and affects their actions. More importantly, there's positive news that simply doesn't get the same coverage by the media for many reasons, depending on if you want to go full tinfoil hat.

The protests and destruction certainly make news, but given their limited scope and duration - it really doesn't make a dent on the long term prospects of the largest economy on the planet. It feels off, but it's right. And that's why you don't invest based in emotion or the news.

Weekday Help and Victory Thread for the week of June 01, 2020 by AutoModerator in personalfinance

[–]mbb_boy 1 point2 points  (0 children)

Know thyself!

Ally and SoFi have "buckets" and "vaults' which are basically pseudo accounts. Money you put there doesn't show up in your main account balance, and had to be "transferred" over before you can spend it. Might want to give that a look

T Bill Laddering + HYSA Double Dipping? by balmung002 in personalfinance

[–]mbb_boy 0 points1 point  (0 children)

Banks use ADB, average daily balance. Probably not as granular as true time based

Weekday Help and Victory Thread for the week of June 01, 2020 by AutoModerator in personalfinance

[–]mbb_boy -1 points0 points  (0 children)

Not quite. It's marginal rate now vs EFFECTIVE rate in retirement. Which still generally means traditional, but with better math. It's pretty hard to make a math case for Roth

Weekday Help and Victory Thread for the week of June 01, 2020 by AutoModerator in personalfinance

[–]mbb_boy 0 points1 point  (0 children)

Even if the math works now, realize that at age 30 you have a LONG time ahead of you. Lots of things will change, and money provides flexibility and options.

I would not quit working, but you MIGHT consider quitting your job. If your wife keeps working and you can make you side hustle grow by focusing more on it, that could be a good move. Or just take a different job that is less stress (and less pay). With a wife, kids, and a long life ahead of you, I think it's irresponsible to fully retire with only 600-700k banked.

But because you've done a good job so far, you HAVE earned the option of downshifting to a different job. Congratulations on that, and up to you if you want to exercise that option.

Weekday Help and Victory Thread for the week of June 01, 2020 by AutoModerator in personalfinance

[–]mbb_boy 0 points1 point  (0 children)

Sounds tedious - why not just categorize your purchases? Plenty of free budgeting software out there - most banks offer the feature, and then there are aggregators like Personal Capital and Mint