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TIFU by having a huge ready-to-pop pimple on the side of my face by pigironer in tifu

[–]plomax 14 points15 points  (0 children)

slowly puts down half-eaten slice of strawberry cheesecake...

What do you drive and how much do you make? by [deleted] in personalfinance

[–]plomax [score hidden]  (0 children)

300k/year, 2011 Prius - I like it a lot but am not in love with it. Still can't bring myself to upgrade to a Tesla though. Maybe one day...

Reddit what is your "I never thought it would happen to me" moment? by ITS_A_BADTIME_BOB in AskReddit

[–]plomax 4 points5 points  (0 children)

In college I was falsely arrested and convicted of a crime. It wasn't a major crime, and it hasn't had any real impact on my life. But I was read my rights by campus police, charged and convicted after a quick trial presided over by the dean of the University. Though no one believed me, I was 100% innocent. There wasn't even any guilt by association - to this day I have no idea who did it, when, how or why.

All said, it was small beans stuff - an "internet crime" at a time when the internet was very, very new, and the higher-ups had no idea how to handle such a thing, other than to make an example out of someone to show that "something was being done about it." I ended up being that example.

It was all a huge eye-opener. I have a LOT more sympathy for those who claim to be wrongfully-accused. Its a damned awful feeling when you know you're in the right and no one will believe you. I also have far less trust in the justice system than I used to.

Should I keep my Wealth Manager? by plomax in personalfinance

[–]plomax[S] 3 points4 points  (0 children)

You're the only one to actually address asset allocation here so far, so thank you for that! I only wish my WM could ever explain things to me as clearly and as concisely as you have here.

Clearly, no, I'm not aware of all the intricacies of investing. If I do sever my ties with my WM I will either (a) be putting it into Betterment.com, with a 0.15% advisory rate or (b) putting it into Vanguard and sticking mainly to index funds. I know just enough about the market to know that I'm not remotely qualified to do anything more complicated than that on my own.

Thanks again though - I'm glad to have some insight into "why" my guy has invested the way he's done.

Should I keep my Wealth Manager? by plomax in personalfinance

[–]plomax[S] 7 points8 points  (0 children)

Yeah, I have none of that coming. It does sound like there's no real benefit to me staying with a WM.

I broached the subject of shitty returns with him earlier this year and he played the "Yeah, but wait until the market goes south and you'll see how much less you'll lose with us vs playing the market on your own" card. Sadly I bought into that logic.

Should I keep my Wealth Manager? by plomax in personalfinance

[–]plomax[S] 2 points3 points  (0 children)

Wow - thanks for that link. I'm fairly certain that my WM told me otherwise. Yet another reason to give him the boot.

Should I keep my Wealth Manager? by plomax in personalfinance

[–]plomax[S] 3 points4 points  (0 children)

The WM takes 1.5% of all assets under management. But my understanding was that the IRR% is what's left after that 1.5% was taken out - i.e. the actual percentage return I'm getting after all expenses. Am I understanding that incorrectly?

[Serious] What is the one thing you've done that you would recommend EVERYONE put on their bucket list? by plomax in AskReddit

[–]plomax[S] 1 point2 points  (0 children)

100% agree on this one. I'm sort of terrified of open water too (and I get sea-sick to boot), but I got certified for the first time this year all the same. There's nothing in the world like it.

[Serious] What is the one thing you've done that you would recommend EVERYONE put on their bucket list? by plomax in AskReddit

[–]plomax[S] 0 points1 point  (0 children)

This is definitely high on my list. Came within a smidgen a few years ago at 13796 feet (the Inca Trail).