just spoke with a financial advisor and shit made my head spin.
just reminded me that we get taxed/penalized like crazy in this
country. between taxable income, 401k, roth iras, limited
contributions, capital gains tax, penalties for withdrawal,
brokerage accounts, taxes, debt. wow. add kids, mortgages, on top
of that? LOL

a strategy for retirement is something that i've been
passive/aggressive about but, feel better that i'm finally
dealing with it head on.

do you have a strategy?



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instagram:
http://instagram.com/0kayndc

"There is much temptation to use what has worked before,
even when it may exceed its effective scope."

"Roll me further bitch"

i see it

try getting a big gulp in NY!







...and i don't even drink soda
~~~~
When you are born, you cry, and the world rejoices. Live so that when you die, you rejoice, and the world cries.
~~~~
You cannot hate people for their own good.

Eight years ago at 26, I bought right in the bubble and don't think I'll ever recover the negative equity. I could rent, but would still be coming out of a pocket a couple hundred monthly due to the rental market in the neighborhood + HOA fees, can't refinance, and a short sale has too many negative effects. The house as savings or equity building vehicle really hasn't worked out for me, so it's fucking up my long term investment outlook.

The lender did cut me a break a while ago and lowered the interest rate. I can afford the note no problem, but it just isn't a worthwhile asset.

Assuming it isn't killing your pockets to hold it.

I've got the same issue with a property. I should've sold it at the peak but I turned it into a rental and I've had to supplement it ever since the meltdown. I should be nearly at break even with the next lease. It'll be 5-10 more before I'd have paid it down to be able to sell it though.

If things ever get dire, I'll give it back to the bank. In the mean time, the paper (and real, for a little while longer) losses help shelter some income come tax time.

and live off 401k money.

***
I'm tryna be better off, not better than...

If you want to retire and travel, why not just get a job where you travel?

that's gotta be liberating.
---------------------------------------
it's true what they say...people are strange, when you're strangers.

not compassionate....only polite.

I am not like you at all and i cannot pretend.

I'll be dead long before that ever happens

But I'm saving diligently for my kids. Inshallah they will never be hungry or homeless if everything works like it should.

make sure one is a nurse to change those diapers man

~~~~
When you are born, you cry, and the world rejoices. Live so that when you die, you rejoice, and the world cries.
~~~~
You cannot hate people for their own good.

That goes to a IRA/Mutual without even seeing it,

Pay off debt aggressively,

Delayed gratification (no vacations or staycations)

10 year old cars (we are just now upgrading this year)

One thing I do know that helps is that we cant have children.


Essentially we live WAAAAAAAAAAAAAAAAAAY below our means.

Its not fun but gotta look forward plus we have nieces and nephews whose parents dont make the best choices.

IMHO, it's one of the biggest things people waste money on. People are like "But Forte, you have $600 shoes". I might buy one pair of $600 shoes a year, but people are spending that every month on car payments/insurance.

we bought a used truck in 07 because we HAD to and we paid that off. we had to buy a new car when we had the baby and i HATED every moment of that car shopping. neither of us have ever had a new car and that fucking car note made me so angry. and cali has the most expensive registration. that alone costs us almost $500/yr for two cars.

about the man who walked 21 miles to work but insurance in Michigan is CRIMINALLY HIGH so his story wasnt all that shocking.


*****************************************
http://www.iamsharandajones.org/help

Safety concerns ?

And we couldn't fit a car seat in a truck

preferably, something that has an international audience/influence.
something that can be done remotely/at home, where you can deduct
taxes, if need be.

don't agree with the no vacation point. i mean, you have to
have fun/leisure time. does everything have to be about paying
bills and saving? life can be short and shouldn't be a chore.



~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
instagram:
http://instagram.com/0kayndc

"There is much temptation to use what has worked before,
even when it may exceed its effective scope."

"Roll me further bitch"

>don't agree with the no vacation point. i mean, you have to
>have fun/leisure time. does everything have to be about
>paying >bills and saving? life can be short and shouldn't be a chore.


Its just that shit happens...ALL THE TIME LOL. For example my brother got laid off and had a major auto accident. BIG SISTER AND BROTHER IN LAW TO THE RESCUE LOL

We are slowly put surely pulling our nose off the grindstone.
It is so cold in the D LOL.

have the vacation as a write off if you can work some sort of business into it

or have it benefit the alternative revenue stream in some way
~~~~
When you are born, you cry, and the world rejoices. Live so that when you die, you rejoice, and the world cries.
~~~~
You cannot hate people for their own good.

"have the vacation as a write off if you can work some sort of business into it"

Import export when we go to Senegal/Gambia/Ghana...Yep

*****************************************
http://www.iamsharandajones.org/help

life is too short to maybe, hopefully one day go on vacation when I'm too old to really enjoy it.

new car... yeah, bad idea. paying a car note on a RELIABLE used car that gets you to and from work and can be used for road trips? Worthy investment.

very little money in there but i'm so fearful of what's going to happen to me when i'm older. my line of work doesn't come with 401Ks or retirement plans so you're kind of on your own with that shit.

i'm praying this child becomes rich so i can live with him, lol.

**********
"Everyone has a plan until you punch them in the face. Then they don't have a plan anymore." (c) Mike Tyson


"One of the most important things in life is what Judge Learned Hand described as 'that ever-gnawing inner doubt as to whether you're

first is just me trying to establish a career i wont want to retire from. right now, i feel like i want to just do creative shit until i draw my last breath.

other than that, creating intellectual property.

other than that, traditional investments and my paltry 401K.

>first is just me trying to establish a career i wont want to
>retire from. right now, i feel like i want to just do creative
>shit until i draw my last breath.
>



~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
instagram:
http://instagram.com/0kayndc

"There is much temptation to use what has worked before,
even when it may exceed its effective scope."

"Roll me further bitch"

better than the nat'l avg

and then realized u can borrow from that for car loans, etc, and pay yourself back that interest, instead of chase or whoever


i just gotta make sure when im 75 and chasing these young girls around the nursing home, none of em try to stick granddad for his papers

It's worth more continuing to compound interest than you'd save in interest on the loan

.

If I get old and frail I'll do jewelry sales instead of clothing.

I've been putting away money in my ira since I was mid 20s though and have a nice little amount saved.

i feel pretty comfortable now but i know marriage and kids could change that quickly. at some point i will buy another house (i will have to) and may even venture into some rental properties to go along with it. been thinking about some vanguard stock and an aggressive mutual fund like i mentioned in double negative's thread. right now i feel well on my way but of course i am also aware of the missed opportunities behind me and the potential pitfalls ahead.

>


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
instagram:
http://instagram.com/0kayndc

"There is much temptation to use what has worked before,
even when it may exceed its effective scope."

"Roll me further bitch"

My company matches 50% up to 6% so I put 6% of each paycheck and they contribute 3%. Then, I put 100% of quarterly bonuses. If bonuses are what they are expected to be (give or take a few bucks), about 15% of my income is contributed from my end, plus another 3% contribution from my company.

Just opened a Roth IRA, deposited both the max contribution for 2014 and 2015 (11K total).

Last week I hit $100K net worth (graduated from college at about -$35K in August 2010) and am hoping to get that to $200K in about 2.5-3 years.

I still feel like I have too much cash on hand, so I need to figure out some other investment ideas or at least move a large chunk of it to a higher interest savings account.

I feel good about everything though. My only other goals is to make sure the woman I settle down with has the same dedication towards the future as I do, rather than being a money suck.

do you own or rent?

I live in a high cost area (greater Boston) where houses are extremely expensive. My plan is to be able to put down 20%, cover all additional costs (closing, etc) and still have a good fund on hand just in case, none of which will be taken from retirement.

~~~~
When you are born, you cry, and the world rejoices. Live so that when you die, you rejoice, and the world cries.
~~~~
You cannot hate people for their own good.

that's pretty much it.

I'm working on some creative shit right now and it should turn into a nice little revenue stream.

My wife teaches dance classes as a side hustle and once she pops this baby out I'm trying to get her to open Body & Soul Yoga spot.

and spend the rest of my days making music and making love to my woman