Way OT- Financial Planning

lkapigian

Live every day like it was your last, one day you’ll be right 

Ozzie_Isaac

AlmaHolzhert said:

I've gotten rich the old-fashioned way.

Oldest profession.  Unfortunately, I'm not built for it.

lousubcap

In today's day and age you may have a side gig @Ozzie_Isaac. 

You may want to test the market given your independent contractor status. 

fishlessman

I hope your plan is SSDI or a locked room....you might have a chance .....bored oura his mind fish whisperererererer just😝

TheFishWhisperer

fishlessman said:

I hope your plan is SSDI or a locked room....you might have a chance .....bored oura his mind fish whisperererererer just😝

It’s Sunday night and I’m hammered.

fishlessman

TheFishWhisperer said:

fishlessman said:

I hope your plan is SSDI or a locked room....you might have a chance .....bored oura his mind fish whisperererererer just😝

It’s Sunday night and I’m hammered.

I believe it

HeavyG

Ozzie_Isaac said:

AlmaHolzhert said:

I've gotten rich the old-fashioned way.

Oldest profession.  Unfortunately, I'm not built for it.

You just didn't find the people with the right fetish. 

dmourati

Your friend is right. Read a few books, have a few neurons firing, and you will beat all active managers over the long haul.

I'm an index fund investor myself so I don't necessarily agree with the idiot proof comment.

Ozzie_Isaac

First step to wealth building is leave this forum.  Never met a group who will gladly help you spend your money.

Legume

Ozzie_Isaac said:

First step to wealth building is leave this forum.  Never met a group who will gladly help you spend your money.

Cost of one horse > all the bbq stuff

Ozzie_Isaac

Legume said:

Ozzie_Isaac said:

First step to wealth building is leave this forum.  Never met a group who will gladly help you spend your money.

Cost of one horse > all the bbq stuff

Fair point.  If my daughter chooses to go to Brown, I will actually save money once she starts college if we just sell all the horses. 

ksmyrl

@Ozzie_Isaac I've always said "horse people are crazy" in a loving endearing kinda way. My buddy, who has more money than a Roman tax collector, has horses. His son ropes and his daughter barrel races. He's changed his entire lifestyle to revolve around these horses. New camper that will haul horses, trucks for all 4 of them that will haul horses...etc etc. It's nuts. But I respect folks who love something so much to dedicate their lives to it. 

ksmyrl

I'm enjoying the conversation on this topic. I plan to go it alone and fire the advisor who manages my independent accounts. However I'll keep the 401k account as is and continue to ask that advisor a few questions now and then. I don't pay those advisors directly...it's a "benefit". They just get the fees. Besides it'll give me something to do on the internets daily, in addition to reading BBQ forums...

Foghorn

I came across another irony of financial planning yesterday.  As I mentioned in an earlier post, we are in the process of selling some stock and committing to a large (for us) real estate deal (3 properties that will involve taking on an additional mortgage payment that is larger than we've ever had on any other property).  As we were shopping in a vacation town yesterday my wife wanted to buy something fairly expensive and wondered if we could afford it, with this new commitment hanging over our heads.  BECAUSE of this new commitment to our future, I felt free to tell her to just buy it.  I don't worry about our future and while I've been putting away money every month and investing it, I will no longer have the ability to do that.  Instead, will just pay this new mortgage.  And there will be no more mental decision-making about "how much can I put away" - or "I could have put away more if we had eaten at Subway instead of the expensive restaurant" - or whatever.  Our "after we pay our commitments" spending will take care of itself and I no longer have to worry about it.  

Or maybe I've got this all wrong...