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At what age do you hope to retire/Personal Finance and Investing Thread

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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: December 18, 2018, 10:01 AM Post
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Schwab is also excellent. I have an investor checking there but I looked at their portfolios recently and I would say any of those 3 are excellent. Schwab, Vanguard and Fidelity, really with Schwab and Fidelity getting the corner on Vanguard as of late. But all my money is at Vanguard and it's not quite worth moving.

The checking account is awesome for travel. Nothing like just parking $800 in there and knowing I can get to it without ATM fees or foreign transactions if I'm in Europe or something.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: December 18, 2018, 10:12 AM Post
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nodakfan17 said:
There’s nothing wrong with target date funds.

If there’s a knock on them, it’s that they come with an extra layer of fees (since most are a fund of funds) and they’re really ‘one size fits most’ not ‘one size fits all.’ But if you’re contributing to a target date fund at a healthy clip, you’re probably setting yourself up for a successful retirement.

I personally don’t use them because they aren’t aggressive enough for my risk tolerance. I already have a fixed income component in the form of a small pension and cash value life insurance, so I prefer my 401(k) to be 100% equities.


I didn't say there was anything wrong with them or they wouldn't grow your money nicely. I just think people are leaving a lot on the table when going with a target fund. Why is there any reason to have something in short-term areas when you are 20+ years out? Why have anything in international markets which, at best, is a diversification tool with low historical returns?

They are made to have zero risk (essentially), but 20+ years out there is little risk in 100% stock.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: December 18, 2018, 1:33 PM Post
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Gonna move my stuff to either the FID 500 Index vs FID low priced stock fund. Both seem to have performed well in the past. The FID 500 Index has a lower fee (and is probably a bit safer), so I am leaning that way.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: December 26, 2018, 6:32 AM Post
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I’ve noticed interest in personal finance has increased in recent years (which is great). That might be partly due to the proliferation of information on the internet and also a resolve to avoid pitfalls from the most recent financial crisis. However, I suspect the 10-year bull market has also driven interest significantly. People love a winning team, but their allegiance is currently being tested.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: December 26, 2018, 7:04 AM Post
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A positive attribute that has coincided with the rise of hipsterism and the appreciation of old ways is self-sufficiency. The skill of homesteading is popular, more people are canning and making food from scratch, etc. With the growth of do-it-yourself tools it seems natural that more people are doing their own investing, too. That and it can help correct some pitfalls of the past. Baby Boomers invested as if they were bulletproof, Gen X and Y took it to a whole 'nother level of reckless, and this current Gen Z seems to be a lot smarter about things and more careful.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: December 26, 2018, 9:48 AM Post
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There is a generation Y?

I thought it was Baby Boomers, X, Millennials, and Z...


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: December 26, 2018, 10:11 AM Post
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turborickey said:
There is a generation Y?

I thought it was Baby Boomers, X, Millennials, and Z...

I believe Generation Y is another term for Millennials.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: December 26, 2018, 11:05 AM Post
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nodakfan17 said:
turborickey said:
There is a generation Y?

I thought it was Baby Boomers, X, Millennials, and Z...

I believe Generation Y is another term for Millennials.


Ok, I'll take your word for it, never heard them referred to as that before.

Is that an attempt by the Millenials to remove the negative connotations associated with the word Millenial" perhaps?


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: December 26, 2018, 12:06 PM Post
Posts: 868
I think Gen Y was actually a placeholder for that generation until demographers settled on Millennials.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: December 26, 2018, 1:12 PM Post
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Every new generation has a negative connotation associated with it u til they are replaced by the next generation.

"Dustin Pedroia doesn't have the strength or bat speed to hit major-league pitching consistently, and he has no power......He probably has a future as a backup infielder if he can stop rolling over to third base and shortstop." Keith Law, 2006


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: December 26, 2018, 10:22 PM Post
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No, I think I actually mean "Gen Z" but instead got the letter wrong. My bad.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: January 02, 2019, 2:28 PM Post
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Interesting note that Mr. Money Mustache publicly announced his divorce 2 days ago.

http://www.mrmoneymustache.com/2018/12/31/divorce/


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: January 02, 2019, 2:50 PM Post
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Very interesting and thank you for sharing. I hope they resolve things as amicably as possible. Purely speculative on my part, but I’m guessing Mrs Money Mustache didn’t like living on $50K per year when her husband’s blog was earning 10 times that annually.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: January 02, 2019, 2:56 PM Post
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I poked around via the rumor mill and some rumblings of his wife's Instagram page, and apparently, the "Mustachian Way" had nothing to do with it. But, nobody will ever be able to verify that. It sounded more like the same old tale of growing apart.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: January 11, 2019, 1:24 PM Post
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Another bump that Spectrum is offering Internet for $15 a month. I had it installed and it is getting speeds of about 30 mbps down and 5-6 up. It's totally adequate for browsing, streaming video, etc. It is a targeted offer, only certain zip codes and sections get it, however contrary to popular belief, eligibility is NOT dictated by income, age, etc. I believe those constraints can GET you qualified for the offer but if your area is zoned for the promo you can get it, as I have and don't fit any of the guidelines.

It is also not a promotional price, it is indefinite, until the price of that base package increases a few dollars, etc. Pretty stoked about it though, incredible deal.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: January 12, 2019, 7:21 AM Post
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Short-term CD rates are pretty competitive these days.

There’s a good chance your bank is offering a 1-year CD around 2%. I finally put half of my emergency fund in a short-term CD. For years, it wasn’t even worth the paperwork, as short-term CD rates hovered above zero. The yield curve is pretty flat right now, which means there isn’t a huge difference between short-term and long-term rates. The 1-year CD rate at my bank is at 2%, but the 5-year CD rate is under 3%.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: January 12, 2019, 7:24 AM Post
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2% on my savings account through Ally Bank.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: January 12, 2019, 7:37 AM Post
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PlayerHader said:
2% on my savings account through Ally Bank.

That’s pretty good. I’ve always been tempted to chase yield, but have stuck with the local guys who employ a lot of people in my town. Also, free suckers [smile]


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: January 14, 2019, 8:21 AM Post
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Essentially all of the large chains and online banks are offering 2% now, just must of them require a minimum balance or monthly deposit or some other stipulation. I had been getting 1.05% for years but just clicked two boxes and moved it to 2+% with CIT (not Citi).

Savings accounts are still pretty lame for anything other than emergency funds or someone actively saving for a down payment or something, but why use .05% when you can get 2%? It's easy enough.


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Offline  Re: At what age do you hope to retire/Personal Finance and Investing Thread
Posted: January 14, 2019, 10:29 AM Post
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OldSchoolSnapper said:
Essentially all of the large chains and online banks are offering 2% now, just must of them require a minimum balance or monthly deposit or some other stipulation. I had been getting 1.05% for years but just clicked two boxes and moved it to 2+% with CIT (not Citi).

Savings accounts are still pretty lame for anything other than emergency funds or someone actively saving for a down payment or something, but why use .05% when you can get 2%? It's easy enough.


I agree. We are building a savings for a down payment to build or buy a home, likely within the next year.

It's great having a 2% growth option for that.


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