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Old 01-18-2017, 01:37 PM   #26
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i'm having a hard time convincing myself i need to. I like being fluid with my location and the freedom that grants in other areas. But as a middle class earner, i'm going to need to own something to live in when i retire and it's going to take a significant part of my life to pay it off. Not having a mortgage or rent payment at that age is critical with a fixed income.
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Old 01-18-2017, 01:40 PM   #27
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I have a feeling there is too much smoke and mirrors with things like wealthfront, is it better to manage your own junk @Turk?
No idea what that even is?
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Old 01-18-2017, 01:42 PM   #28
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No idea what that even is?
it's one of those answer a pile of questions and we will come up with a blended investment for your risk tolerance and manage the money for you outfits.
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Old 01-18-2017, 01:44 PM   #29
 
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See I kinda look at a home purchase in the way I do anything else I sell. Purchase price, comparable items, cost to repair, fixed purchase costs etc... With a home you factor in location and schools, etc but that's easy enough. A home is a long term investment for sure, but, I don't really see it as handcuffs keeping me from packing up and moving out, whether to relocated or sell and move on to the next property. I'd love to get to the point where I can buy the houses for cash and save myself the fixed costs of acquiring a mortgage, etc.
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Old 01-18-2017, 01:44 PM   #30
 
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Much appreciated bud

As far as investing goes, I think I could be smarter about my contributions, take that 4% from my 401k and put it into the current roth once I deduct my home purchase money. I agree that taxes now are less than taxes ahead and definitely see the upside value there, I guess I just spend more time thinking about what I can do to make $5,000 tomorrow and just let the 401k, roth or what have you worry about the money for later.
I think that is the right idea. You really want to set your 401k and roth etc to be automatic and I only look at mine every 3 month so to make sure I don't have to move stuff around to keep it near my balance of foreign, small cap and mid cap. You shouldn't be thinking of it daily

With the buying and selling hustle for now it seems that is more something where you could use the money you have now to make those deals and keep on pushing the profits etc into an accessible low cost mutual fund (vanguard in my case) as a way to keep on having it grow even more. When that fund hits 100k it starts making a lot more money for you and you can still keep on doing what you are doing to get it higher even faster.

First 100k is always the hardest mark to hit after that it gets a lot easier to make the next 100k.
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Old 01-18-2017, 01:47 PM   #31
 
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Just don't do debt unless you have to, max out your employer match for 401k, and invest what you can even if its small. Compound interest will take care of you greatly!

Don't piss away money on cars! I know how hard it is, but its silly to do so!

Don't have four kids...ask me how I know. (only kidding, they're worth it)
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Old 01-18-2017, 01:54 PM   #32
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the house i want to live in, where i want to live, and inside my budget does not exist.
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Old 01-18-2017, 01:57 PM   #33
 
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Just don't do debt unless you have to, max out your employer match for 401k, and invest what you can even if its small. Compound interest will take care of you greatly!

Don't piss away money on cars! I know how hard it is, but its silly to do so!

Don't have four kids...ask me how I know. (only kidding, they're worth it)
Cars have made me the money to be able to have this thread, I'm dumb with the ones I choose to own and drive, but, I've made enough on them over the years that I can afford a dumb move here and there haha. (just kidding)

Right now I've just been accruing trucks. The plow business has been slow because we apparently moved to Seattle, but, I'll probably be at net zero by the end of the season. (recoup all of my initial investment). If the season ends up finishing out like shit I'll buy up what I can as far as equipment goes and turn them around in the fall. That way I'm making money with snow plows one way or another lol.
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Old 01-18-2017, 01:57 PM   #34
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I have a few investment accounts. My work 401K, Roth IRA, and a 401k beneficiary my father left me after he passed. Like others said, ALWAYS take the employer match for 401Ks, then dump whatever you can afford into a Roth IRA.

Currently my 401K Bene is actively managed, I manage the other 2 accounts. Chase takes about $1,000 every FY for their "management skills". Anyone know the rules on managing this account myself???

FYI, I've been waiting for Uber to go public. Once they do, I'll be all over that!
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Old 01-18-2017, 01:58 PM   #35
 
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the house i want to live in, where i want to live, and inside my budget does not exist.
Neither does mine. However the house that the typical white picket fence American wants does, and, I'll live in a few of those for the next six years making money before getting my acreage and pole barn haha.
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Old 01-18-2017, 03:15 PM   #36
 
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Originally Posted by Ryan02Stang View Post
Just don't do debt unless you have to, max out your employer match for 401k, and invest what you can even if its small. Compound interest will take care of you greatly!

Don't piss away money on cars! I know how hard it is, but its silly to do so!

Don't have four kids...ask me how I know. (only kidding, they're worth it)
Had I known better I would have started a 529 plan for my kids in my name before I had any. Then just let it grow and switch it to their name later.

I will agree, max the shit out of that 401k. My employer doesn't match anything but when they do I am in!
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Old 01-18-2017, 03:22 PM   #37
 
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does 401k make sense only when an employer is matching? or might as well invest in your own roth/IRA etc. ?
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Old 01-18-2017, 03:29 PM   #38
 
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does 401k make sense only when an employer is matching? or might as well invest in your own roth/IRA etc. ?
From what it sounds like doing your own is where you want to be. My employer only contributes 3%. I guess I should kick my contribution down to the maximum matched and just transfer that cashflow to a roth.
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Old 01-18-2017, 03:30 PM   #39
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Had I known better I would have started a 529 plan for my kids in my name before I had any. Then just let it grow and switch it to their name later.

I will agree, max the shit out of that 401k. My employer doesn't match anything but when they do I am in!
I'm not doing a 529 plan because the fund options suck. I can make more money picking my own funds even without the tax savings.
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Old 01-18-2017, 03:33 PM   #40
 
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Also you may want to consider UTMA vs 529, 529 locks you to COLLEGE costs, in case you or your offspring say fuck college you may want other options.

3 Big Differences Between 529 College Savings Plans, UTMA Accounts | Paying for College | US News
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Old 01-18-2017, 08:50 PM   #41
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Good thread here. I'm very much so interested in investing my money a bit more and hoping to set myself up for an early retirement as well. I'm 28 and was lucky enough to land a pretty good job right out of college at 23. Since then, I've been contributing rather aggressively to my company matched 401k and putting a small amount into a Roth IRA. Although I have a solid rainy day fund in savings, I look at the Roth as extra funds being set aside for an emergency or possibly to be used towards a down payment on a house in the somewhat near future.

I'm interested in learning more about mutual funds and other investments. I wouldn't know where to begin with putting money into the stock market, but it's something I'd like to learn about.
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Old 01-18-2017, 09:08 PM   #42
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Good thread here. I'm very much so interested in investing my money a bit more and hoping to set myself up for an early retirement as well. I'm 28 and was lucky enough to land a pretty good job right out of college at 23. Since then, I've been contributing rather aggressively to my company matched 401k and putting a small amount into a Roth IRA. Although I have a solid rainy day fund in savings, I look at the Roth as extra funds being set aside for an emergency or possibly to be used towards a down payment on a house in the somewhat near future.

I'm interested in learning more about mutual funds and other investments. I wouldn't know where to begin with putting money into the stock market, but it's something I'd like to learn about.
I like S&P 500 funds, Vanguard especially. They are already well diversified in large cap companies. One you should look at is VOO, it's an ETF with a very low cost. If you invested 10k in VOO in October of 2010, you'd have over 22k right now.

Warren Buffett Recommends S&P 500 Index - Business Insider
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What I advise here is essentially identical to certain instructions I've laid out in my will. One bequest provides that cash will be delivered to a trustee for my wife's benefit. (I have to use cash for individual bequests, because all of my Berkshire shares will be fully distributed to certain philanthropic organizations over the ten years following the closing of my estate.) My advice to the trustee could not be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund. (I suggest Vanguard's.) I believe the trust's long-term results from this policy will be superior to those attained by most investors whether pension funds, institutions or individuals who employ high-fee managers
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Old 01-18-2017, 09:38 PM   #43
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Thank you @Turk, I will do some reading!
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Old 01-25-2017, 09:08 PM   #44
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Bumping this thread. This week I changed jobs and started looking at what I should do with my 401k. For now I may just leave it alone for a little while and get started in my new employer's 401k program once I'm eligible. My 401k has been making a killing the last few months.

I also finally opened up an investment account through Fidelity and have been looking at ETF's since Turk mentioned them. VOO definitely looks attractive!
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Old 01-25-2017, 09:30 PM   #45
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I've been putting into a 401k since I was 21 but that is just one element of how to save. Always try to find an employer that will match what you contribute as that helps a ton. Next you'll want to consider multiple revenue streams. As for the house thing I sold a couple cars and bought one in 2013 putting 40% down and paid it off last year. It was a foreclosed house and I had to put some money into it but got it cheap which made it easier to pay it off on 3 years. Now that I have that paid off I am looking at the next house With the intention of renting this one out. It's worth about 245k right now and I can easily rent it out for $2000. I'd have to save about $500 for taxes/insurance but that $1500 a month would be paying the mortgage of the next house while I work to pay off the principal during the months I have a tenant. Rince and repeat.

The goal is to have enough houses to rent 3 out and live off of that and my 401k when I retire and also leave my 3 sons something when the wife and I turn to dust

The way I look at it is that I'd rather have a couple properties paid and clear in the event I hit hard times and either need to sell one or move back into one.
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Old 01-26-2017, 05:36 AM   #46
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Warren Buffet recommends putting almost all your investments into an sandp fund and just don't worry about it. You can expect an 8 to 10% annual game over the long haul.
i think OP's original fund with 8-10% is doing great.

i also like the sp500 plan. maybe sell some covered calls occasionally if you like. sickmint79 investment plan has been in in all sorts of big crazy shit, last 3 all private equity. could turn into lots of money, could turn lots of money into no money. would i feel more comfortable if it was in the sp500 now? oh fuck yah. will i ultimately be a lot happier with however these end up? gdamn i sure hope so!
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Old 01-26-2017, 05:39 AM   #47
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See I kinda look at a home purchase in the way I do anything else I sell. Purchase price, comparable items, cost to repair, fixed purchase costs etc... With a home you factor in location and schools, etc but that's easy enough. A home is a long term investment for sure, but, I don't really see it as handcuffs keeping me from packing up and moving out, whether to relocated or sell and move on to the next property. I'd love to get to the point where I can buy the houses for cash and save myself the fixed costs of acquiring a mortgage, etc.
homes typically track inflation, and you are lucky if you win with some capital appreciation.

buy a home to live in, if it's cheaper than renting the place you want to live in.
buy a home to invest, if you can rent it out and after all is said and done, you are cash flow positive.
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Old 01-26-2017, 05:41 AM   #48
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does 401k make sense only when an employer is matching? or might as well invest in your own roth/IRA etc. ?
if you quit you can just roll it out into your own thing. i've rolled 2 employer roth 401ks into my roth ira
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