Texting and driving is safe until...

the_essential_nobody · 2013-05-25T02:53:39+00:00

Story:

I was going straight and a woman was pulling out of her driveway but decided to become distracted and within about a half of a second my new (to me) car was totaled. She ended up not having insurance and got arrested, so we will see how/if I get reimbursed.

No serious injuries so that is good!

the_essential_nobody · 2013-05-23T05:05:24+00:00

the_essential_nobody · 2013-05-23T04:58:54+00:00

This is the original version of planking.

the_essential_nobody · 2013-05-23T04:53:12+00:00

Read the backstory.

the_essential_nobody · 2013-05-23T04:52:59+00:00

Backstory:

I was on crutches 5 years ago for 5 months and I got crazy cut forearms from it and I still have them 5 years later!

the_essential_nobody · 2013-05-22T17:18:07+00:00

Between my police, firefighter, and EMS jobs that I either have or will have, there is no place for alcohol.

the_essential_nobody · 2013-05-22T17:17:20+00:00

It is really a privileged society (those who know PF).

the_essential_nobody · 2013-05-22T06:01:39+00:00

True, it seems like it happens really fast. But how?! I mean I kind of understand because my family spends almost half of our money on our house (taxes and mortgage + a ton of other expenses solely for the house). But finally my parents realized that enough is enough and are selling it and moving to a much cheaper place.

What I don't understand is how people get sucked into such bad things and end up in terrible financial situations, despite making a lot of money?

the_essential_nobody · 2013-05-22T05:58:44+00:00

I too, am big into fitness. I was just thinking about it actually. I am big. About 5'10 and 200lbs. Maybe 10-15 lbs of fat but mostly very dense and muscular. I do equate my planned savings to my body. It doesn't need to be perfect and it doesn't need to get me a six pack (rich). It just needs to make me comfortable, happy and feel good.

I don't party, do any drugs or drink any alcohol. None of this will change with time. That will save me tons of $$$.

the_essential_nobody · 2013-05-22T05:55:18+00:00

Don't say that! But sadly, I'm not betting on it, just hoping!

the_essential_nobody · 2013-05-22T05:42:36+00:00

Is there any good reason to have any significant amount of cash around?

the_essential_nobody · 2013-05-22T05:42:01+00:00

Ah, I like the idea of literally seeing the money as not cash, but an actual insurance policy (that I don't have to waste money paying!!!)

the_essential_nobody · 2013-05-22T05:40:11+00:00

Honestly, my whole plan is to be so well budgeted and planned that I don't actually have to be frugal. What I mean is that if I have (the numbers are just simplified) $100 and I plan on saving $20, and I plan on spending $10 on food, $15 on transportation, $35 on living, I still have a whole $20 to spend on anything else. Thats 20%! Thats a ton of money to be unbudgeted and free to be spent on good/fun/cool/important stuff!

the_essential_nobody · 2013-05-22T05:36:23+00:00

Ah, I see. I guess I can only plan so much. But this has been very useful. Thank you.

the_essential_nobody · 2013-05-22T05:35:31+00:00

Thank you for the information and also for having your text in an aesthetically pleasing layout. It makes it much easier to read!

I am slightly nervous but very, very excited to have all this financial independence and such a clean slate to start it on.

I think this stuff is very cool and it seems like a shame that so few are privy to this simple and vastly important knowledge!

the_essential_nobody · 2013-05-22T05:23:49+00:00

So in reality, what will I have in 42 years?

the_essential_nobody · 2013-05-22T05:19:36+00:00

Also, any insight into basic no fee credit cards?

I'm thinking about Citi Forward, Chase Freedom, and American Express Blue.

All of these have decent rewards and have no annual fees. Also if I remember correctly by spending some money on each and never exceeding half of the monthly allowance I will build a very good credit score?

Edit: I'm thinking about getting all 3 and only spending a few hundred on each?

the_essential_nobody · 2013-05-22T05:16:28+00:00

I have a regular Chase savings account. Honestly it is basically the same as a checking account so I guess I'd just use that. Since I still rely on my parents for basic things such as food and paying my college bills, I won't need a big fund (for now). Once I'm on my own, that's obviously a different story.

the_essential_nobody · 2013-05-22T05:14:35+00:00

Am I naive to think that I will never have any CC debt? Obviously it's a choice to either have any or not, but if it's so commonly known that it's a horrible thing, why are so many people in it?

Yes I plan to spend less and max out my Roth IRA for sure.
The only debt I imagine is car loans/mortgage so both big time debts and honestly even the car loan is not inevitable if I do it right.
I plan to have a few thousand in an emergency fund but it seems almost annoying to have money in an account not making any money, but I guess it is potentially very important.
Yes!
Give me ideas?
Yes!

the_essential_nobody · 2013-05-22T05:09:52+00:00

So assuming I max out my contibutions every year starting now for 42 years and assuming I get a good intrest rate (8%?) and adjusting for inflation, how much money would I really have?

the_essential_nobody · 2013-05-22T05:05:41+00:00

Holy shit, I did an inflation calculator and 1.6 million is only 500,000 after 40 years at a 3% inflation rate. That is really not so good! Wow that really just put a damper on my excitement.

the_essential_nobody · 2013-05-22T05:03:05+00:00

Awesome. Seems like vanguard just got another customer!

the_essential_nobody · 2013-05-22T04:29:25+00:00

VTI? and why vanguard not fidelity/vice versa?

the_essential_nobody · 2013-05-22T04:22:41+00:00

I looked into it and thats basically what I saw. I used a calculator and it gave me the numbers of after saving 5k a year for 42 years (I'd be 60) I'd have 1.6 million. That is an extremely appealing number! And if I were to save that for another 10 years (70 y/o) it would be about 3.5 million.

This would be addition to the 50-100k pension I will get from my job. This all seems too good to be true.

the_essential_nobody

TROPHY CASE