What do you think is the proper way to use money on everyday life?

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razr390
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max225 wrote: Thu Nov 07, 2019 7:16 pm I never really realized the draw of sweet tea, that doesn't exist out here... Texas was full of it... including EXTRA SWEET TEA. :wtf: Like 30% sugar is NOT GOOD ENOUGH.
Yeah the whataburger sweet tea is the worst. I have to put 30% sweet and 70% unsweetened so my teeth don’t rot
:doughnut: :narc: :doughnut:
Desertbreh wrote: Thu Oct 17, 2019 3:05 pm DFD. The forum where everybody makes the same choices and then tells anybody trying to join the club that they are the stupidest motherfucker to ever walk the earth.
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razr390 wrote: Thu Nov 07, 2019 6:40 pm
max225 wrote: Thu Nov 07, 2019 6:37 pm But what about in general ? Should one live to as much as the paycheck allows - maximum 401k contributions +6 month rainy day fun?
Or should one just live to the bare minimum that doesn't cause self loathing?
I’d say after investing in maximum tax advantage accounts and having maybe at most a 12-24 month emergency fund, after you are at that point allow yourself to treat some of the money as fun coupons.

:doit:
We basically do :dat: Max out our 401ks, contribute several $k every year to our Roth IRAs for the tax bennies, have a couple of life insurance policies, annuities, IRA's, REITs, money market, plus maintain a couple years of emergency liquidity, etc. After that we spend what we feel like spending on what we feel like spending it on, which for us is mostly travel, occasional :fancy: dinners, etc. Fortunately, we both have rather simple tastes and :whocares: on fancy :waxer: jewelry, clothes, shoes gadgets, etc. That plus no student debt and a paid off house and cars make the saving easy at this point.

Also, as a :wap: , I feel I should remind you that you WILL need money some time in the future for something health related. When you're young and healthy you don't think about that but I can all but guarantee you that you will have some sort of medical expense in your future and in this country we have to plan for that with our own private funds. Keep that in mind.
:wap: Where are these mangos?
Detroit wrote: Fri Apr 16, 2021 1:19 pm I don't understand anything anymore.
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wap
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Oh, and sweet tea is :wtf: :gag:
:wap: Where are these mangos?
Detroit wrote: Fri Apr 16, 2021 1:19 pm I don't understand anything anymore.
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troyguitar
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max225 wrote:But what about in general ? Should one live to as much as the paycheck allows - maximum 401k contributions +6 month rainy day fun?
Or should one just live to the bare minimum that doesn't cause self loathing?
I'd say it's more like live as much as you want to as opposed to as much as you can. For example we could afford a house up here but we'd still not want to be here so it's not really worth the hassle or added cost in what will hopefully be a short term living situation.
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wap wrote:
razr390 wrote: Thu Nov 07, 2019 6:40 pm I’d say after investing in maximum tax advantage accounts and having maybe at most a 12-24 month emergency fund, after you are at that point allow yourself to treat some of the money as fun coupons.

:doit:
We basically do :dat: Max out our 401ks, contribute several $k every year to our Roth IRAs for the tax bennies, have a couple of life insurance policies, annuities, IRA's, REITs, money market, plus maintain a couple years of emergency liquidity, etc. After that we spend what we feel like spending on what we feel like spending it on, which for us is mostly travel, occasional :fancy: dinners, etc. Fortunately, we both have rather simple tastes and :whocares: on fancy :waxer: jewelry, clothes, shoes gadgets, etc. That plus no student debt and a paid off house and cars make the saving easy at this point.

Also, as a :wap: , I feel I should remind you that you WILL need money some time in the future for something health related. When you're young and healthy you don't think about that but I can all but guarantee you that you will have some sort of medical expense in your future and in this country we have to plan for that with our own private funds. Keep that in mind.
Healthcare is fucking insane. It cost $3k after insurance for me to have a 5 minute upper endoscopy this summer.
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troyguitar wrote: Thu Nov 07, 2019 10:17 pm
wap wrote:
We basically do :dat: Max out our 401ks, contribute several $k every year to our Roth IRAs for the tax bennies, have a couple of life insurance policies, annuities, IRA's, REITs, money market, plus maintain a couple years of emergency liquidity, etc. After that we spend what we feel like spending on what we feel like spending it on, which for us is mostly travel, occasional :fancy: dinners, etc. Fortunately, we both have rather simple tastes and :whocares: on fancy :waxer: jewelry, clothes, shoes gadgets, etc. That plus no student debt and a paid off house and cars make the saving easy at this point.

Also, as a :wap: , I feel I should remind you that you WILL need money some time in the future for something health related. When you're young and healthy you don't think about that but I can all but guarantee you that you will have some sort of medical expense in your future and in this country we have to plan for that with our own private funds. Keep that in mind.
Healthcare is fucking insane in Murica. It cost $3k after insurance for me to have a 5 minute upper endoscopy this summer.
:dat:

What's your deductible? Until you hit it you are forced to :troywax: for most things. :disappoint:
:wap: Where are these mangos?
Detroit wrote: Fri Apr 16, 2021 1:19 pm I don't understand anything anymore.
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Deductible is like $6k IIRC and "max out of pocket" which is somehow not the same as a deductible is $12k. It's another reason we save a lot of money. At this rate, healthcare for the 2 of us could end up costing $40k+ a year at age 55+ if capitalism is allowed to continue unchecked.
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troyguitar wrote: Thu Nov 07, 2019 10:37 pm Deductible is like $6k IIRC and "max out of pocket" which is somehow not the same as a deductible is $12k. It's another reason we save a lot of money. At this rate, healthcare for the 2 of us could end up costing $40k+ a year at age 55+ if capitalism is allowed to continue unchecked.
:dat: is exactly the point I was trying to make to :225: regarding taking health care needs into account when thinking about the spend/save conundrum.

For profit health care makes me :rage:
:wap: Where are these mangos?
Detroit wrote: Fri Apr 16, 2021 1:19 pm I don't understand anything anymore.
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Yeah I'm not even being hyperbolic. The wife's parents really did spend $30k a year on healthcare from age 55 to 65, and neither of them had any big health issues. I think they might spend less now that they are eligible for more federal help but don't know the details.
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troyguitar wrote: Thu Nov 07, 2019 10:51 pm Yeah I'm not even being hyperbolic. The wife's parents really did spend $30k a year on healthcare from age 55 to 65, and neither of them had any big health issues. I think they might spend less now that they are eligible for more federal help but don't know the details.
I know you're not. That is the :fshitup: reality here and what I was trying to convey to Maxwell. I hope he's reading this.
:wap: Where are these mangos?
Detroit wrote: Fri Apr 16, 2021 1:19 pm I don't understand anything anymore.
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wap wrote: Thu Nov 07, 2019 10:47 pm
troyguitar wrote: Thu Nov 07, 2019 10:37 pm Deductible is like $6k IIRC and "max out of pocket" which is somehow not the same as a deductible is $12k. It's another reason we save a lot of money. At this rate, healthcare for the 2 of us could end up costing $40k+ a year at age 55+ if capitalism is allowed to continue unchecked.
:dat: is exactly the point I was trying to make to :225: regarding taking health care needs into account when thinking about the spend/save conundrum.

For profit health care makes me :rage:
You can’t get denied healthcare coverage here. So if medical bills become too big you just :nope: out. What else can you do ? Illegals get it for free
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5/7 would eat at Max's franchises. Start with a mcdeeznuts or CFA.
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max225 wrote: Thu Nov 07, 2019 6:37 pm But what about in general ? Should one live to as much as the paycheck allows - maximum 401k contributions +6 month rainy day fun?
Or should one just live to the bare minimum that doesn't cause self loathing?
Your borrowed money probably shouldn't exceed total household income times four.

I'm at THI x 3.25 between the new place I just bought and the beach house and it feels right.
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max225 wrote: Thu Nov 07, 2019 6:56 pm
razr390 wrote: Thu Nov 07, 2019 6:54 pm
Honestly if you have capital and net worth to qualify I don’t see how you could fail franchising fast food joints in some BFE flyover state/city that relies on automotive/highway traffic.
How much does a franchise go for and does it need to be paid for in cash?
$100k for subways.

These are easy to research.
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troyguitar wrote: Thu Nov 07, 2019 10:37 pm Deductible is like $6k IIRC and "max out of pocket" which is somehow not the same as a deductible is $12k. It's another reason we save a lot of money. At this rate, healthcare for the 2 of us could end up costing $40k+ a year at age 55+ if capitalism is allowed to continue unchecked.
I love how you completely have ignored the fucking government's role in our fucked up healthcare situation.

Go refresh your memory on why we are at this critical point rather than wag fingers at "capitalism"

https://mises.org/wire/how-government-r ... -expensive
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max225 wrote: Fri Nov 08, 2019 12:59 am
wap wrote: Thu Nov 07, 2019 10:47 pm

:dat: is exactly the point I was trying to make to :225: regarding taking health care needs into account when thinking about the spend/save conundrum.

For profit health care makes me :rage:
You can’t get denied healthcare coverage here. So if medical bills become too big you just :nope: out. What else can you do ? Illegals get it for free
Include health care in your $ saving calculus is all I'm saying.
:wap: Where are these mangos?
Detroit wrote: Fri Apr 16, 2021 1:19 pm I don't understand anything anymore.
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This article popped into my email this morning and I thought it for well here:

https://mayooshin.com/how-to-be-happy-again/
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Apex wrote: Fri Nov 08, 2019 8:24 am This article popped into my email this morning and I thought it for well here:

https://mayooshin.com/how-to-be-happy-again/
:notbad:
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If you move to Austin I'll come visit ya.
Then we can fight IRL. The final showdown.

:trollface:

Shit, even 500k gets you a really nice place in TX.
4zilch wrote: Mon Apr 12, 2021 8:46 am I'm a fucking failure.
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wap wrote: Fri Nov 08, 2019 7:40 am
max225 wrote: Fri Nov 08, 2019 12:59 am

You can’t get denied healthcare coverage here. So if medical bills become too big you just :nope: out. What else can you do ? Illegals get it for free
Include health care in your $ saving calculus is all I'm saying.
:notwrong:

or plan on flying out to another country annually to pay in cash for the same services.
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On a more serious note, I think you and I are roughly the same age.

I've been thinking about this too, not so much FOMO, but I hate looking back and thinking "Man, I could have afforded X, Y and Z this whole time."

Mainly regarding my housing. I want to have a house with a nice shop, in a decent neighborhood, or on some land with neighbors far away enough to not annoy me.
That means moving out of BR proper, and into one of the surrounding areas, and I'm beginning to be more and more ok with that.

Technically I have the means to pretty much afford whatever I want at this point, but it's all tied up in my inherited mutual funds, and I'd rather not touch that.
Conversely, if I were to withdraw a certain amount, I could easily sell my current house, and afford what I wanted very comfortably.

So, do I go all in now, or try to stick it out at my current place. It's not appreciating any, all I really gain in the long term is the amount needed to break even gets smaller and smaller.
Meanwhile, I'm not getting any younger and want to start living my dreams ASAP.
4zilch wrote: Mon Apr 12, 2021 8:46 am I'm a fucking failure.
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Max, we all seek this higher plane of existence and happiness. Some people are happy living in a tiny house, shitting in a bucket. Some people are happy working 80 hours per week and being in the "rat race".

Your bulletproof advice that is repeated by ALL financial planners
Savings: max out all tax sheltered venues if you can. That gets you about ~$25k/yr sheltered in most cases. Save 10-15% cash money on the side. Casually invest another 5-10% if you'd like. Have 1 year current living expenses in cash. Make sure you dont have any debt. Is your "shithole" :haus: paid for? At this point you are now in the top 8% of earners in the US - perspective. Remember, there are a FUCK TON of poors AND high earners living out the dream in debt.

After that, go do whatever the fuck it is that brings you happiness. Unless thats hookers and blow, thats a path to the dark side. And your happiness is subject to change so adjust accordingly.
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Melon wrote: Fri Nov 08, 2019 9:03 am If you move to Austin I'll come visit ya.
Then we can fight IRL. The final showdown.

:trollface:

Shit, even 500k gets you a really nice place in TX.
:dat:

the "everything cost $1m" is a hard fucking :lolol: are we about to turn this into a zillow :bread: of cool/nice shit you can get for under $1M?
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If he's looking in Austin, near downtown it's $1m, also what I consider "nice" may be too pleb for Max. It's all in personal taste.
4zilch wrote: Mon Apr 12, 2021 8:46 am I'm a fucking failure.
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dubshow wrote:
Melon wrote: Fri Nov 08, 2019 9:03 am If you move to Austin I'll come visit ya.
Then we can fight IRL. The final showdown.

:trollface:

Shit, even 500k gets you a really nice place in TX.
:dat:

the "everything cost $1m" is a hard fucking Imageol: are we about to turn this into a zillow :bread: of cool/nice shit you can get for under $1M?
He wants to be in a decent part of a big city. That's 7+ figures across the world.

Yeah our house in KY was super nice for $150k but it would be $1.5M in SF and $1M in Austin... Maybe more than that if it was still on a quarter acre.
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