Best Posts in Forum: Business, Investing & Finance

I saw this article yesterday on MSN. Good read. I agree w/ that you have to take out the religious aspects of it (although I still tithe and give to charity - about 5% of my income total, which is less than the 10% Ramsey suggests; per the bible). Glad to see so many young people getting their sh*t together. I always kick myself for being a financial retard in my early/mid 20's.

I can honestly say, Dave Ramsey turned my life around financially (also w/ a little bit from Clarke Howard). I was working a 3rd job in the late 90's as a transport paramedic and was in the ambulance 12+ hours a day listening to AM radio (usually sports, financial, or political stuff). I got turned on to Ramsey and it financially turned my life around.

I haven't had a car payment since the year 2000. I bought my house in Arlington for over $400K and put 20% down (plus closing costs), I built a vacation/rental cabin and paid cash for it, and I have a healthy savings/investment/brokerage account. It's taken 20 years, but I look back on it and it all started w/ the part-time job and listening to Dave Ramsey on the radio.

 

Offer accepted, looks like we're moving to Gulfport!!

 

Ummmm.....you do realize those banner ads are based on your search history, right?

 

We closed on the cabin today.....very bitter sweet. I put A LOT of hard work into that place. It was an fully wooded lot when I bought it. Sad day, but we're happy w/ the profit and ready for the next chapter in life (moving back to God's Country!!).

 

I've a got a great plan.....Lottery....I pay in $20 a week and one day it will make me millions.

 

I would relax on the vacation budget. I would have not put myself in a 1.5M mortgage. I would have done something different with the vehicles. It's great they are saving $36,000 a year in a 401k... but I would make every attempt possible to put away WAY more than "just" that.

 

I know this douchebag that started one. It's OK, but he's certainly squeezed a good amount from me in the process. All I got in return was a special banner with sparkles.

 

Just because you may be able to withstand the hit doesn’t make it right. If later that day someone stole $5000 from your wallet, you’d be fine as well with still north of half a million, but that wouldn’t make it any less theft. The government has no right to that money and it essentially disincentivizes success. Now, I’d like to think that said person would do some good(beyond employing and providing benefits for countless people who need a job and benefits) through charity or something along that line. But it should be his call and he should be able to direct his funds to something he feels warrants it, not have a bunch of career politicians funneling the fruits of his labors into their own coffers and/or financing a bunch of nonsense in the name of some cause that acts as little more than a guise to continue the theft.

No thanks.

 

This spells it out better

 

Is that an exponential curve? Do we need to flatten the curve?

 

Ask me in 10 years. I’m waiting for these Oxbucks to moonshot

 

My 19-year old daughter, a college student who started her first job early this year making $80 gross/week,asked me "what percentage should I start saving for retirement, and how much toward an emergency fund?" just after her first paycheck. You couldn't have knocked the smile off of my face with a baseball bat.

 

I will try to give an elementary explanation and an elementary example, and will not go into details b/c of the current rate levels etc.

An inverted yield curve is based on the U.S Treasury rates. U.S Treasury rates go from anywhere from 1 day (the shortest) to 30 yr. bonds (the longest). Generally speaking when you loan your money to the U.S. Gov't (which is what you do if you buy a treasury) the longer the term usually gives you a higher rate, which makes sense b/c the longer you tie up your money the better rate you should get. This is basically how old school banks make money. You having a savings account and they pay you an overnight rate. They then take that money and lend it long term, say for a morgtage. But if they have to pay more to you than they can loan it out for, they can't make money. This won;t happen in reality, but it is one of the things that was happening in 2003-2008 and was part of the credit crisis that caused the modern day depression. So when the shortest rate is the lowest and progressively gets higher the longer in time, this is called a normal yield curve. An inverted yield curve is when any of the shorter duration rates is higher than any longer term rate. For example the 3 month T-Bill has had a much higher yield than the 2, 5, and 10 year T-notes for quite a while now, thus the yield curve has been inverted for a long time now. However today for a brief moment, the 10 year T-Note had a rate lower than the 2 year T-note, thus an inversion in the 2-10 spread. The reason it is all over the papers is that this particular inversion is closely followed by many and often seen as a good indicator of a recession to come. I personally think that the 3 month to 10 year is a better tell, but that is another topic. So in short an inverted yield curve is when a shorter term maturity instrument carries a higher interest rate than a longer term maturity instrument in that same family.

Oh and the simple answer as to why the panic is that it has been that recession indicator 6-24 months down the road.

 

Arlington house goes on the market tomorrow afternoon.....

 

Just got our appraisal back at 5k over what we're paying.
Also got the sellers to pay closing costs.
Small wins, but I'll take 'em.

 

This is exactly why Yellen should NOT have been made Treasury Secretary. As Fed Chair, she was the head of an independent, non political (supposedly) group whose job was stable prices and full employment (control overnight rates). How many times did she and other Fed Heads go in front of Congress twice a year and say you have to stop the stupid spending. So now she is in a 100% political position serving at the behest of the Prez (or whoever) and now she is saying she has never met any spending that she did not like. As Treasury Sec. do NOT comment on any FED matters. I do not give a shyt your experience. Shut your pie hole or if not, then resign!

 

I don't get it. I am bullish on crypto currency but why put all your eggs in one basket, especially when you are a high paid individual?

At some point your goal should switch from looking for moon shots to wealth preservation. Stocks, bonds , real estate, side hustles and crypto.

I think people just forgot what crypto bear market looks like. It is brutal. Makes the dot com bubble look like a minor correction.