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Old 11-04-2014, 09:59 AM   #41
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Using USPS would violate the "Pay late" mandate. Electronic transfer would be "later." (Not to mention more certain of arriving on-time.)
Ron,

I'm not sure what you are talking about, but nevertheless, you may end up needing to argue with a credit agency if your payment is received late even if caused by USPS.
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Old 11-04-2014, 10:02 AM   #42
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Originally Posted by DFW_M5 View Post
Ron,

I'm not sure what you are talking about, but nevertheless, you may end up needing to argue with a credit agency if your payment is received late even if caused by USPS.
Of course you would. That is what I said -- certainty of "on-time" delivery.
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Old 11-04-2014, 10:14 AM   #43
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DVDs? They still make those?
Some of the best stuff on Netflix is still only on DVD's.

And to keep this on topic:

Here's some good, money saving, financial advice: Cancel cable TV. When a favorite show's season ends wait for that season to either go to Netflix streaming or be available on DVD's for an extra $8 a month. Far cheaper than most cable TV rates.

I just finished the first few seasons of Game of Thrones using this system. While I wait for the current season to be on DVD, I will watch a few other shows and movies that are out on DVD and/or being streamed. The cable guy? I kicked him to the curb years ago.

The bigger picture financial advice: A dollar saved is like a dollar earned - TAX FREE!
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Old 11-04-2014, 10:19 AM   #44
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When a favorite show's season ends wait for that season to either go to Netflix streaming or be available on DVD's for an extra $8 a month. Far cheaper than most cable TV rates.
Or Roku (Via Amazon Prime, for instance).
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Old 11-04-2014, 10:31 AM   #45
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I have stopped all mail that I could (it is impossible to stop government stuff -- license plate notification, real estate tax, IRS stuff, etc.).
It is changing. At least where I live, you can get a lot of government stuff electronically - including license plates notifications (but not the stickers) and real estate tax.
Car insurance used to be physical mail, but nowadays police here have your insurance record available electronically and your smartphone app can also double as proof of insurance.
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Old 11-04-2014, 12:29 PM   #46
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So far it seems like contributing to a 401k is going to be a common theme here for many of us. Not unexpected.
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Old 11-04-2014, 03:41 PM   #47
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People still rely on the USPS... for anything?
Yup. A bill comes in, I sit down and write a check, put a stamp on the envelope, it goes out the next day. Works for me.
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Old 11-04-2014, 03:47 PM   #48
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Yup. A bill comes in, I sit down and write a check, put a stamp on the envelope, it goes out the next day. Works for me.
What's a Check?
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Old 11-04-2014, 03:52 PM   #49
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What's a Check?
A paper document used to transfer money. They used to be widely used but now only cantankerous people use them.
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Old 11-04-2014, 04:21 PM   #50
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I am also one of those dinosaurs who still writes checks and puts a postage stamp on envelopes. A couple of things are billed to a credit card and my health insurance is auto deducted from my pension but otherwise I get a bill by snail mail, write a check and post it within a day or two.

My only complaint is the paucity of mailboxes in suburbia (they have become like pay phones). When I worked, my office was near a large central post office and I walked into the lobby several times a week to deposit mail. I don't like to leave my outgoing mail in my mailbox as I have on occasion gotten other peoples' outgoing mail mysteriously mixed in with my incoming mail.
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Old 11-04-2014, 05:44 PM   #51
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Best Advice

When I was in my late 20's my boss told me to take advantage of the companies 403B, he said I don't care if its just $25 a may period just start".
I was married with 3 kids but took his advice and I think it was only $25but every time I got a raise I added a little more. At my next job I rolled it over and the company had an account with Vanguard so I started with index funds, so as they say "now you know what the rest of the story". Fast forward 35 years later and that $25 with gradual increases over time has grown to over 1M.
BF
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Old 11-04-2014, 06:40 PM   #52
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When I was in my late 20's my boss told me to take advantage of the companies 403B, he said I don't care if its just $25 a may period just start".
As I said in my OP, a relative told me the same thing about my company's 401k. For years, many newer employees would ask me about the company's 401k plan and investment options. I would never recommend how to invest the money in the plan, but I would always tell them to try and contribute at least as much as the company would match and more if/when they could. To my amazement, some never joined the plan.
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Old 11-04-2014, 06:54 PM   #53
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My parents were debt averse and people told me to get into a 401k but for the most part it was just school of hard knocks...

My folks both got very sick. Almost lost the house. We never had money. I went to a Jesuit high school and worked for part of my own tuition from age 13 on. Scraped thru college...loads of student debt. In grad school I was living on $700/mo...I had $20/mo that wasn't spoken for. I'll never forget shopping for Christmas that year...I had like $10 to spend on my fiancé...really sucked. To get married I had to ask her to help pay for even a modest engagement ring.

When we were first married >50% of our take home was going to college loans. I had a masters degree and a great job, but we were right back at having zero slack each month...I remember sitting down each month and rebuilding the budget from scratch to ensure we'd get thru the month.

First raise showed up and we said "enough of this crap" and set ourselves on a course to get out of debt...and I set myself on a course to learn everything I could about building wealth. I built endless spreadsheets and derived most of the insights about LBYM, etc...

That said, those years of living on <$1000/mo and not going into consumer debt remain the best lesson ever...
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Old 11-04-2014, 07:00 PM   #54
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I was 24, just one year into my Civil Service career as a Computer Engineer. I was sitting next to a guy on an airplane who was 45 and retiring from the Federal Government as a millionaire. He told me to max out my TSP (401k) contributions every year and invest it in 100% stocks. I am now 34 and have been maxing out my contributions ever since!
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Old 11-04-2014, 07:23 PM   #55
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I am in the medical field and have had many students over the years and my first assignment is to read a copy of the Wealthy Barber
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Old 11-04-2014, 07:31 PM   #56
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In my first job out of college, I briefly dated the company lawyer who was about 12 years older. He explained to me what a 401k was and why I needed to participate. I went to HR the next day and started contributing from my next pay check. I am so thankful for those few dates we had
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Old 11-04-2014, 07:31 PM   #57
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Here's a few I remember reading somewhere many years ago:

- Separate "wants" from "needs".

- Don't buy new when used will do.

- Never pay interest on a depreciating asset.


Advice I would give to young folks today is always max out your 401K and invest an equal amount in after tax accounts.
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Old 11-04-2014, 09:04 PM   #58
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My dad, a banker, once said to me, "You can't worry about rates of return until you've first put a few bucks away." He was a lifelong saver and retired from the bank at the age of 50, long before ER was a forum (or even a TV show). He and mom lived well on CDs (not music) and rental income.

They taught us LBYM by example.
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Old 11-04-2014, 09:18 PM   #59
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Several senior NCO's, active duty and retired from assorted branches, that I used to teach with advised me to leave the service and work overseas when I was contemplating another reenlistment in 96....that was the best piece of financial advice that I think I ever received.
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Old 11-04-2014, 11:18 PM   #60
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INTJ. I never listen to advice.

1. Drew compound interest curves(6, 8,10%) on sheet of K&E engineering paper for 20-30 yrs.

2. Read about Index funds and discovered John C. Bogle.

3. Much later became a 'Boglehead'.



heh heh heh - buy the haystack at the lowest possible price cause the needles are already in there. Then do nothing. Of course watching football in season and buying a few good stocks with unimportant mad money to keep the male hormones happy does help.
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