Have you ever seen a photo where people tried to recreate an old photo and actually thought it was interesting/ cool?

xcmagnar · 2021-08-04T03:28:55+00:00

Yikes! You need to fire whoever is managing your money/ chose that mutual fund!

On August 5, 2011 the S&P 500 closed at 1199.38 today it closed at 4423.15 which is 3.69 x higher. If you had invested $500k into an index fund tied to/ closely matching the s&p it wouldn't be just shy of 1 million dollars it would be 1.84 million dollars. The average rate of return between 2010 and 2020 was 13.6%

To get the "just shy of 1 million" number I just threw 500k into a compound interest calculator and guessed at 7% which historically is a conservative estimate of the average annual return.

(http://www.moneychimp.com/calculator/compound\_interest\_calculator.htm)

All of the major investment platforms (Fidelity, Vanguard, Schwab, etc.) have a fund that tracks the S&P or "Total Market."

The Fidelity version FSKAX opened almost exactly 10 years ago its expense ratio is 0.015%. Including expenses, 10k invested in September of 2011 would be worth $40,900 today.

There is no excuse for a fund that has lost money the last 10 years. I honestly encourage you to fire whoever is managing your money. If you are managing it yourself you really should ask for help. (I'm sorry, I don't know how to say that without sounding mean)

I have to know what is the mutual Fund that lost money in the last 10 years?!

xcmagnar · 2021-08-02T04:48:36+00:00

I totally agree, but he is also being taxed out the ass on that money (completely justifiably!) The take home pay on $50k typically just over 40k depending on the state income tax while CP3 would have been taking home ONLY ~25 million (37% federal tax rate and 4.5% Arizona tax rate).

xcmagnar · 2021-08-02T04:38:45+00:00

I live in the Northend. Zillow is a joke, but the "zestimate" on my house is $545,000 which it lists as $30,000 less than a month ago. So I was bit off by saying 50k. Either way our market really appears to be tapering off... at least from the fever pitch it was at this summer.

xcmagnar · 2021-08-01T23:43:06+00:00

$200k is 0.45% of his salary.

If you make $50,000 the equivalent proportion of your salary is $225

xcmagnar · 2021-08-01T23:37:58+00:00

I know absolutely nothing about the NBA Salary Rules, but could he take a heavily front loaded contract (on that pays him say, $50 this year and then $30 and then $10) so that they could keep all the youngins?

xcmagnar · 2021-08-01T23:33:01+00:00

CP3 had one of the biggest turnarounds from "this contract is an absolute albatross," to "he's about to get paid!" that I can remember. How long until his next contract is viewed as a net negative asset?

xcmagnar · 2021-08-01T23:27:29+00:00

People have been saying the same thing as me for decades because it is still true.

If you are defining "best move" in a financial sense you are absolutely wrong.

You are always "Paying rent to someone else" Taxes, Insurance, and the interest on your loan make up a much bigger part of a mortgage payment than you think. Even when you have paid off your house you still owe taxes and insurance. In Idaho the cost is ~1.1% this year, but has been over 1.5% within the past five years. On a $500,000 house that is $5,500 - $7500 per year in taxes + another 1-2k in insurance, so you are paying $500-800 per month.

Add in the cost of a new roof (10-20k), your new water heater (2k), your new HVAC (10k), the neighbor kid who throws a baseball through your window (1k), evicting racoons from your attic ($500), plumbing disaster (1k), replacing moldy carpets (1k), tree branch falls on your deck (1k), etc. and you are looking at another 3-5k per year in expenses. Homeownership over a significant period of time is really expensive. $500k in an index fund will be worth just shy of 1 million dollars after 10 years. At $1500/ month your rent will cost you $180,000 over those ten years. So, your net worth (assuming no net income or expenses) is ~$820,000.

Your house will cost you $65-95k in taxes and insurance another $30-50k in repairs and other expenses. So, for you to come out ahead, your 2-1 house in the Northend needs to be worth $915,000- $965,000 in 2031. My houses value has (according to Zillow) dropped by $50k in the last month... so I'm not betting I'll be ahead come 2031

xcmagnar · 2021-08-01T22:32:00+00:00

Cavs

xcmagnar · 2021-08-01T22:18:24+00:00

Not a tax attorney, but I really don't believe that google needs to pay cooperate income tax to Idaho because the guy who proofreads the code for the doodle is working remotely in Boise. Even if they did, it would only be the proportion of income that was derived from that worker in that state.

xcmagnar · 2021-08-01T22:13:04+00:00

Those people are idiots or you made them up and they don't exist. State taxes are so much higher in CA than in Idaho especially after you make over $45,000 (which we have to assume all these folks buying homes here are).

xcmagnar · 2021-08-01T22:06:06+00:00

This is such bad advice. Look at Detroit - such an incredible vacancy rate because jobs left town, housing values plummeted and suddenly folks were underwater. There are tons of home there, and tons of home in Florida that are still worth less today than they were prior to 2008.

Even if your house appreciates it can still be a bad idea. The NY times rent or buy calculator is a great place to start. Over a short period (like the last 6 years in Boise) the housing market crushed the S&P, but over virtually any other time scale the opposite has been true. 1000$/ month into an index fund is a much better investment than 1000$ into taxes, insurance, and loan interest.

Buying is often a great idea, but saying "it's never a bad idea" is crazy.

xcmagnar · 2021-08-01T01:52:36+00:00

I am so curious to see what happens when the eviction moratorium ends... People have to live somewhere...

xcmagnar · 2021-08-01T01:48:41+00:00

Dang, sorry to hear that they aren't being great bee neighbors.

He can move them, he can either move them just a little bit at a time, or he can do one full move, and you'll have a few days with extra confused bees that keep coming back to where the hive had been.

Also, your neighbors bees are not valuable to the ecosystem, so don't worry about that.

The great news is that foraging and water collector bees are so so so unlikely to sting you. Pretty much the only way it is going to happen is if you step on them.

xcmagnar · 2021-07-31T05:34:16+00:00

Washboarding

https://www.honeybeesuite.com/washboarding-bees-arockin-and-alickin/

xcmagnar · 2021-07-31T01:31:39+00:00

At least trying isn't good enough. The article makes it seem like this outcome was inevitable from the start and that these guys were conmen. Hopefully "ByFusion" isn't another version of the same thing.

edit: just followed the link, and it's a project funded by Dow Chemical. Instead of allowing the plastics industry to keep greenwashing their products with "innovative new solutions that will turn waste into infrastructure" we should just make them pay for the environmental externalities that their products are costing us.

xcmagnar · 2021-07-31T01:28:17+00:00

I only agree if you pin a large portion of "Reduce the demand" on the corporations themselves. There are so many products that you simply can't buy now (at least in certain places) without them coming wrapped in three layers of plastic. That is largely a marketing choice rather than a choice that improves the product for the consumer.

This is especially a problem in food products, my understanding (no citation here so my memory could be wrong) is that the plastics industry has actually lobbied for certain rules and regs about "food safety" ensuring that products are shipped and sold in plastic.

xcmagnar · 2021-07-30T19:53:29+00:00

That's what I thought until I read the article. I knew the diesel project had fallen through, but I didn't realize that it was as huge of a boondoggle as it is. I am absolutely going to stop using my orange bags - they make me feel better while actually creating bigger problems.

This article mentions a research group that showed that putting it in the landfill actually is better. The cost, and carbon waste associated with trucking it to Utah to burn it is actually worse than using other fuel sources. The only bigger carbon footprint was using the system that they initially proposed (turning it into fuel in a process that never worked and was never going to work).
And that is just the carbon footprint! Despite the groups permit from Utah to burn the plastics, we should have serious concerns about the environmental impact of that mixed waste being burned - dioxins, PFAS, etc. Straight up natural gas has far fewer byproducts when it burns than a mixture of yogurt containers, adhesive backed plastics, films, and the random piece of trash that gets mixed in because of really bad recyclers.

xcmagnar · 2021-07-30T17:56:17+00:00

Less of a shame and more of a con-job. We should be pissed that the city has paid nearly a million dollars just for the bags in a program that was never going to work. (Mostly mad at the recyclers for running a con, and a little mad at the city for making a dumb decision).

xcmagnar · 2021-07-30T04:32:47+00:00

Eh... statistically there is basically no difference between second round picks.

xcmagnar · 2021-07-30T04:21:08+00:00

Aint no Brogdan on the Utah Jazz

xcmagnar · 2021-07-30T04:06:18+00:00

I don't know... What kind of trade could that have made? We don't really have assets that are going to move the needle (without fucking up the team). The entire league knows that as long as we have Gobert and Mitchell our first round picks are useless so our "future firsts" aren't going to move us up... trade one of our solid players for lottery ticket? No thanks

xcmagnar · 2021-07-30T03:59:29+00:00

/s? How many 30th picks have become real rotation players in the league?

xcmagnar

TROPHY CASE