"Typical" ER forum member profile

[steelyman]

I know for a fact that everyone here is scrupulously honest and no one here ever exagerates.

As Kermit The Frog said, "Well, Loretta, that's a difficult question. The answer is 'nes'".

 

[kannon]

I go with the bell shape curve and getting +/- two standard deviations of the population with common ER traits. That said, the key points that I have tried to pass to my kids and other young folks I use to work with:

1. Financial DIYer - you have to take control, learn about finances. For me. the Boglehead Guide to Investment is perhaps the best of all financial books.
2. Uses index funds for the majority of his/her investments.
3. Stay away from annuities or similar stuff that is too complicated and too much overhead.
4. Live below your means.
5. Stay the course, don't get emotional.

I think if we can teach others to see finances like this we can do a lot of good.

 

[harley]

I have *never* seen people get so caught up in the molecular content of their food, as on this forum.

That does appear to be the case but I'm of the opinion that particular trait is shared only by a highly vocal minority. Might be worth a poll to confirm if you're really curious...

Absolutely +1. I've noticed that all of the food threads seem to contain the same dozen or so posters (including me). And a number of them (often including me) seem to be more focused on debunking the theory than buying into it.

My thought too, so perhaps modify it to "substantially debt free" meaning if there is any debt it is small compared to NW and an amount larger than the debt is invested elsewhere at a higher rate of return than the interest on the debt.

I consider myself debt free. I don't consider my mortgage to be debt, any more than I consider using my (paid off fully every month) CC to buy everything debt. Why not use other people's money basically for free if they are foolish enough to let you? I consider my mortgage to be a reallocation of assets. Why have a huge chunk of money tied up in equity in an illiquid asset? As long as I can pay it off at my convenience it's not debt.

I don't really consider my home to be an asset. And I suspect if I lived in a smaller house where having a paid off mortgage only tied up a couple hundred grand I might go that way. But I just can't see keeping $1M+ tied up. A chunk of that borrowed at a tiny and easily market-beaten interest rate is such a no-brainer I wouldn't be able to sleep at night if it was paid off.

 

[davismills]

All six for me. I especially like being debt free and Dave Ramsey didn't motivate me.

 

[Redbugdave]

What would you say are typical ER forum member profile/attributes ?

I'll start by adding a few of my own thoughts;

1. Financial DIYer and more than a bit skeptical about the role/benefit of FAs.

2. Uses index funds for the majority of his/her investments.

3. Somewhere between the ages of 50-70 and debt free.

4. Dislikes annuities for various and sundry reasons.

5. Retired in their 50s.

6. Have analytical type personalities.

How far am I off and what else might you add ?

Yup...that's me. And, I also need to cut back on the "Devils Workbox".

 

[Niuatoputapu]

1. Financial DIYer and more than a bit skeptical about the role/benefit of FAs. YES

2. Uses index funds for the majority of his/her investments. NO, still captive, as is DW, in company plans without real index funds, but outside of those plans still see value in some actively managed investments.

3. Somewhere between the ages of 50-70 and debt free. Age YES, Debt-free NO, still have two five-year car loans - one at 0.9%, the other at 0.0%, and a 30-year mortgage at 2.875%.

4. Dislikes annuities for various and sundry reasons. YES

5. Retired in their 50s. Not yet retired. Good question though. How many people here are already retired versus still working on it? Bet the retired ones are more likely to respond to surveys.

6. Have analytical type personalities. YEP

 

[scrabbler1]

One small quibble.... I would suggest that you replace "paid" with "AUM based" as I don't think many of us would expect an FA to work for free and many of us are ok with FAs that charge a fixed fee or by the hour but we are skeptical of those who charge a percentage of AUM.

I agree with your clarification. However, I receive as a perk from Fidelity (for having a lot of money invested with them) an Account Executive (AE) who helps me out with things and I can bounce ideas off and get some advice, all at no direct charge to me.

 

[Janet H]

What would you say are typical ER forum member profile/attributes ?

I'll start by adding a few of my own thoughts;

1. Financial DIYer and more than a bit skeptical about the role/benefit of FAs.

2. Uses index funds for the majority of his/her investments.

3. Somewhere between the ages of 50-70 and debt free.

4. Dislikes annuities for various and sundry reasons.

5. Retired in their 50s.

6. Have analytical type personalities.

How far am I off and what else might you add ?

Probably true... but I also think that many members have a strong 60's ethos that was never fully acted on.

We buckled down and got responsible all the while currying that little voice inside that yearned to be independent, free of social baggage to conform, etc. Early/retirement is finally the time to hoist the freak flag and do whatever the heck we want to do, when we want to do it.

Right on! Power to the LBYMers, Peace, love and financial freedom, etc...

 

[mickeyd]

Add~ Generally a devotee of Jack Bogle but has no problem with making deviations to "Bogleideas" if it is for a better personal asset allocation or investment action.

 

[txtig]

G


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[imoldernu]

A bit atypical:
+70
Not money oriented

To add:
Happy and contented with 25 years of retirement.

 

[Lsbcal]

A bit atypical:
+70
Not money oriented

To add:
Happy and contented with 25 years of retirement.

Don't worry, us baby boomers are gaining on 70+ real fast. By the time I hit that age group in a few years, I'm hoping I'll have lots of company here.

 

[Chuckanut]

I really doubt we have a typical member. I find this group an interesting combination of many types of people.

 

[kcowan]

I am an extrovert. I spent 20 years in sale and marketing. I made big money and took big risks. I invested in property development and made big money on flips. I invested in gold mining and made big money on discoveries. I had a stock broker engineer friend and we made several 10-baggers on investments he knew personally.

By the mid-90s, I became more conservative and when I retired in 2002, I got out of most high-risk endeavours. Still hold Apple stock from the 80s (although I reset the capital value in the 90s).

Now I would categorize myself pretty close to frayne's list. Buy and hold both value and index investor. Seldom rebalance. No FAs anymore. DIY. LBYM. Retired at 49 but consulted to pay alimony. No annuities (small DB pension). If The Jones' only knew!

 

[robnplunder]

Don't forget "Incredibly good looking and hugely talented."

That rules me out. I will be back after couple of cosmetic surgeries. Please refer to my avatar.

Other traits I have observed:

• Financially very conservative
• Can carry on a discussion like an adult ... perhaps, that's b/c the forum has so many good moderators.

 

[FIREd]

What would you say are typical ER forum member profile/attributes ?

I'll start by adding a few of my own thoughts;

1. Financial DIYer and more than a bit skeptical about the role/benefit of FAs.

2. Uses index funds for the majority of his/her investments.

3. Somewhere between the ages of 50-70 and debt free.

4. Dislikes annuities for various and sundry reasons.

5. Retired in their 50s.

6. Have analytical type personalities.

How far am I off and what else might you add ?

1) Yes.
2) Sorta. When I invest in a mutual fund, it is most likely an index fund. But I still have a significant portion of my portfolio invested in individual securities (stocks, CDs, i-bonds, etc...). I also think that Vanguard offers some compelling actively-managed funds. If I was in a lower tax bracket, I'd consider them.
3) 40 years old and debt-free.
4) I dislike some annuities. But I have nothing against SPIAs and will consider them when the time is right.
5) Retired nearly 5 years ago, at 36.
6) Yes, but I am getting help. I sometimes get so caught up in analysis that it leads to paralysis. It's good to just wing it every once in a while!

7) LBYM / fiscally conservative: yes!
8) Introvert: yes.

 

[steelyman]

That rules me out. I will be back after couple of cosmetic surgeries. Please refer to my avatar.

Other traits I have observed:

• Financially very conservative
• Can carry on a discussion like an adult ... perhaps, that's b/c the forum has so many good moderators.

That is true, and the willingness to self-moderate can help them out.

 

[Amethyst]

What?!! For a 900-year-old Jedi master, you look great!

Amethyst

That rules me out. I will be back after couple of cosmetic surgeries. Please refer to my avatar.

 

[ls99]

Profile? Fairly close to Alfred E Newman.

Otherwise I wasted may youth in the Army then in support of science. Cheapskate for the emost part. DIY, yes.

 

[NC 57]

Based on my 2 years of mostly reading posts, and rarely making posts, I would characterize most members of this forum as being very self aware, confident, and comfortable with who they are. I also view most members as goal oriented and skilled planners.


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[pb4uski]

I agree with your clarification. However, I receive as a perk from Fidelity (for having a lot of money invested with them) an Account Executive (AE) who helps me out with things and I can bounce ideas off and get some advice, all at no direct charge to me.

Ditto here, but from Vanguard. It is amazing how well you get treated when you have a sizable stash with them. No birthday card though.

 

[kcowan]

It is amazing how well you get treated when you have a sizable stash with them. No birthday card though.

MIL had a pure FI portfolio with about 3 trades a quarter. For that she paid 1% and got a plant at Christmas. Once every three years she also got a free lunch. When I took over her portfolio, I saved her over $10k a year. Plus I gave her an understandable annual statement on one page.

 

[EastWest Gal]

I'm not typical. I have investment debt and I do use wealth management services. But I am an introvert who retired in my 50s.

I don't have debt but use FA services too. I would have screwed up or taken a lot longer to get in the market without them. Over the past two months I've crunched numbers comparing if we had had our money in similar Vanguard indexes to see if they are still worth it, and the jury is definitely not in. Overall, despite their costs, we came out ahead. Last year, not so much. I am educating myself to become and DIY investor over the next couple of years.

I agree with the DIY investing folks though. I was just too busy to do it correctly and DH is still clueless when it comes to investing.

Otherwise fits me to a tee.

 

[Amethyst]

I'm not introverted. In fact, I'm very gregarious, and like to talk to strangers and try to make them laugh. What isolates me is my sensitivity. For example, I don't like to hear or participate in gossip, and this trait of mine seems to put off all but the most intelligent women (like the ones on this forum).

It's not that I shake my head or say, "Oh, dear, you shouldn't gossip like that," it's that I stop participating, or try to change the subject, when the bitchy knives come out. Simply by not taking part, I reveal that I'm not part of the group-think. Once that happens, they stop including me. It's as if a willingness to trash those who aren't present, is the price of "belonging."

Amethyst

 

[6miths]

Interesting Amethyst. Maybe it's a guy thing but I take a certain pride in not knowing anyone else's personal business.