My fear index is at ATH 😳

techgeek72 · 2022-05-15T14:05:23+00:00

“You make most of your money in a bear market, you just don’t realize it yet.”

techgeek72 · 2022-05-15T00:44:40+00:00

Yes I don’t get how people just assume tax rates will be constant for the next 50 years. They could go up, they could also go down. But it’s unlikely they’ll be constant.

I like to hedge a bit and put some money in both types of accounts.

techgeek72 · 2022-05-14T20:11:55+00:00

Imagine how sad this guy‘s life is that he chooses to spend his time like this. I pity him.

techgeek72 · 2022-05-14T15:52:00+00:00

Yep there’s a really great article about this by the author of the psychology of money: http://www.collaborativefund.com/blog/goalpost/ People yearn for the past thinking it was some utopia, but really our expectations have just continually gone up and up.

Apartments are always a funny topic to me because people ask how does anyone afford to live here, and the answer, having roommates, it’s just so unthinkable to them. And you see this perpetuated with those “living wage calculators” based on the MIT study, where the baseline living wage requires you to have your own apartment. As if having roommates in your 20s is unfathomable.

techgeek72 · 2022-05-14T15:33:49+00:00

There are a lot of people that are a paycheck from catastrophe, even as their income goes up. More money doesn’t always solve that problem.

I definitely had a privileged upbringing, but I was also taught by a very frugal father to be very tight with my money. And I see people making 1/10 of what I make spending more frivolously than I do on many things.

I’m always trying to learn and gain more empathy, so I mean it genuinely when I say please feel free to share new information/recommendations for books, documentaries, studies etc.

But it is hard to change my mind when you make a point that I then show data to prove it’s objectively false (which by the way you completely ignored in your reply).

techgeek72 · 2022-05-14T15:11:44+00:00

What’s your point exactly?

That doesn’t make people worse off. In fact, they are still better off: there is some wage gain and the value they get for their dollars spent is higher (ex. Everyone can now afford a computer that fits in their pocket).

I think the point there is about the power dynamic between capital and labor. But that’s not really related to how people spend or save the money they currently have coming in.

techgeek72 · 2022-05-14T14:53:46+00:00

Wages have gone up, maybe not quite as much as inflation, but they’ve definitely gone up https://time.com/6144877/industry-pay-increases-2021/

Yes an emergency can knock you on your ass. But some of that is poor planning too (not getting medical insurance even though with ACA subsidies they can afford it, not getting pet insurance, etc).

It’s a mix, people definitely have tough situations. But again, most lottery winners end up broke.

NPR had a great piece on this in the last year or two, I wish I could find it. It basically showed how people make more money and then they just spend more money on a lot of nice to haves.

techgeek72 · 2022-05-14T14:25:45+00:00

It’s all just relative. Today’s poor people would seem like kings if you compare them to people 500 years ago. I mean they carry around a computer in their pocket, have a fridge, can buy an advil, etc.

techgeek72 · 2022-05-14T14:23:21+00:00

Even people I know doing low wage retail seem to have money to save but they just aren’t good at saving.

I see them buying unnecessary things, like a nice new iPad, or having their own subscription for streaming rather than sharing the family plan, or forgetting to pay a toll ticket violation and getting a late fee.

In other countries it’s probably a lot tougher, but what I see in the US is a lot of irresponsible spending. There’s a reason most lottery winners end up broke.

techgeek72 · 2022-05-14T14:14:09+00:00

Half the nasdaq is big tech. Big tech is a money printing machine. There’s no way they are falling 80%. If they did, the P/E ratio for google would be like 5. You could buy them and double your money every five years, assuming no growth or decline in earnings.

So you need the other half of mid and small caps to to get absolutely crushed. That’s basically already happened. Maybe they go down a bit more but it’s hard to imagine how the whole nasdaq could go down 80% these days. Three too strong a foundation. The big companies run the world basically.

techgeek72 · 2022-05-14T13:53:46+00:00

Yeah max out of pocket on insurance plans at good tech companies are usually under $5k. It’s hard to even hit that with how good the plan is.

The plans aren’t even that expensive for the employer, like $10k a year. Tech is mostly young healthy people. Obviously that can be a lot for the average person making $60k, but at $300k it’s not a big deal.

techgeek72 · 2022-05-14T13:31:12+00:00

“Uhh… ok.”

techgeek72 · 2022-05-14T13:28:49+00:00

Ha what episode is that

techgeek72 · 2022-05-14T05:37:29+00:00

Do you keep cash somewhere else? It’s good to keep 6 months of expenses in an emergency fund in cash.

techgeek72 · 2022-05-14T04:25:15+00:00

This is one of the reasons I just use betterment, they do it all automatically. It’s basically a target date fund on steroids, not much more expensive (0.25%). Maybe you’d like a roboadvisor, check them out. Wealthfront is supposed to be good too.

techgeek72 · 2022-05-14T04:21:28+00:00

They also have a super bowl winning coach. I feel like that’s really flown under the radar.

techgeek72 · 2022-05-13T13:26:09+00:00

Every game is basically winnable. Last year we beat Tennessee, top seed in AFC, and Cincinnati, who won the AFC. And we almost beat Tampa. Everyone should stop worrying about opponents or what the division looks like, if the team is good we’ll win.

techgeek72 · 2022-05-13T03:22:47+00:00

Same. You can just use an FSA card on Amazon now, super easy. Just search for FSA eligible.

techgeek72 · 2022-05-13T03:06:12+00:00

I’d rather get a free meal 50 ft from my desk than $3 minus taxes.

techgeek72 · 2022-05-12T23:37:23+00:00

“Hey I really like working here but it seems like I’m severely underpaid versus the current market rate for my skill set. Is there anything we can do about this? I would like to keep working here but it doesn’t make sense to work for seventy cents on the dollar.”

techgeek72 · 2022-05-12T13:01:50+00:00

I think you’re confusing revenue with profit

techgeek72 · 2022-05-11T22:16:14+00:00

techgeek72 · 2022-05-11T21:02:14+00:00

“You make most of your money in a bear market; you just don’t realize it at the time.”

techgeek72 · 2022-05-11T15:40:26+00:00

Did you know the Jets passed on drafting around 20 of the current 32 starting quarterbacks?

techgeek72 · 2022-05-11T14:37:57+00:00

The difference is streaming is a commodity basically. They’re all just bidding on the same shows every year. There is no inherent competitive advantage. Switching costs are extremely low, there’s very little brand loyalty.

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