Help for the mere millionaire

[NW-Bound]

About the toughness, I did not see the difference. It could be because my wife tended to overcook the regular bacon to render more fat out, and quite often the bacon got a bit crunchy. But now that you have mentioned the taste...

It could be simply that you have a more discerning palate, but you made me wonder. Being the curious type, I will have to get to the heart of the matter, and have to do a more detailed A/B test for myself.

See the trouble you caused? A minute ago, I was happy with the status quo. Now, I wonder if I miss out on something.

 

[Lisa99]

Gotta disagree NW. I bought one of those packs thinking I could simplify my bacon and eggs. But I don't think it tastes as good as fresh cooked and it is definitely tougher. I may by another pack since it is a lot easier to microwave a few slices than to defrost a pack to remove a few and then cook them. but it isn't quite perfect yet.

Off topic, but here's how to buy a pack of bacon and freeze it for individual meals without having to thaw the entire pack. You'll need a roll of parchment paper or waxed paper works as well.

Separate the bacon into individual strips. Lay a long sheet of wax paper on the counter and lay a single strip of bacon at the end of the strip. Fold the long strip of wax paper one time over the bacon. Lay your second strip of bacon on the paper (which is now covering the bacon strip below) and fold the paper back over the exposed bacon.

You'll end up with a big accordion of bacon/wax paper. pop in a gallon zip lock bag and freeze. You can take out one or more strips at a time without them sticking to each other.

 

[dtbach]

Off topic, but here's how to buy a pack of bacon and freeze it for individual meals without having to thaw the entire pack. You'll need a roll of parchment paper or waxed paper works as well.

Separate the bacon into individual strips. Lay a long sheet of wax paper on the counter and lay a single strip of bacon at the end of the strip. Fold the long strip of wax paper one time over the bacon. Lay your second strip of bacon on the paper (which is now covering the bacon strip below) and fold the paper back over the exposed bacon.

You'll end up with a big accordion of bacon/wax paper. pop in a gallon zip lock bag and freeze. You can take out one or more strips at a time without them sticking to each other.

Te things you learn on this forum stagger the imagination. . . . .

 

[Nords]

I figure most who made their first million on their own have demonstrated a skill to both earn and manage the funds.

I suspect that people who inherit money would need a lot of hand holding.

Like Hamlet said, knowing how to earn lots of money is not the same as knowing how to manage it. [Insert name of professional sports figure here.] In fact, I believe that knowing how to earn lots of money actively discourages you from learning how to manage it. Why would you need to do the latter if you're already nailing the former?

We used to have a financial advisor posting here who said most of his new customers came to him in a panic when they realized that they were earning high six figures, had 90% of their net worth in company stock, didn't understand the exercise/taxation of their stock options, and had learned that they might be laid off during the upcoming corporate merger.

Gotta disagree NW. I bought one of those packs thinking I could simplify my bacon and eggs. But I don't think it tastes as good as fresh cooked and it is definitely tougher. I may by another pack since it is a lot easier to microwave a few slices than to defrost a pack to remove a few and then cook them. but it isn't quite perfect yet.

We use the Costco bacon slices for our Haleakala Crater trips. It's lighter than packing in a slab of uncooked bacon, and my palate is much less discriminating after I've taken it hiking 5-10 miles at altitude with a 30-pound pack...

 

[MooreBonds]

I figure most who made their first million on their own have demonstrated a skill to both earn and manage the funds. Extending that skill to cover the second (or more) million is unlikely to be difficult for them. Conversely, people who did not have that learning experience seem more likely to need assistance if wealth is dropped upon them from inheritance, the lottery, etc.

While I certainly share Nords' cynicism of 'a poor heiress college student who was simply torn between hiding her wealth and helping others feel good about theirs', I also understand (a bit from personal observation) how some financially successful people can have a very clueless nature when it comes to the nuances of portfolio management.

A vast majority of the members of this forum are self-motivated - and mentally wired to be able - to, at the bare minimum, understand the game that the finance world plays...and in most cases, self-manage our own portfolios. However, it might surprise us to learn that there are quite a few people who have been very financially successful at running various businesses (or upper management positions within companies), and who have accumulated some financial wealth, yet remain mostly clueless when it comes to finances.

You might assume "If someone can manage to keep their customers paying their bills, and knows how to charge people more than it costs to perform the service or build the product, then surely they can teach themselves about what the stock market is, and learn how many financial 'advisors' are merely trying to separate them from their money".

But there are quite a bit more of them out there than we realize.

Just because someone is a whiz at programming in-demand computer code, or successfully managing a construction company, or sourcing cheap manufacturers for in-demand products has absolutely nothing to do with being able to understand the nuances of portfolio management, optimization, and having the patience to learn such things. Some of the forum members who are successful former entrepreneurs are also successful portfolio managers....but I'd say they are definitely a minority. Many concepts in running a business are more on the qualitative side, and can be understood with a little common sense, even if they do involve some numbers...but when it comes to portfolio management, it can quickly become a quantitative nightmare for those who don't have as firm of a mental grasp of numbers and comparisons as many on this board do.

And let's not forget that the internet is still, what, maybe 15 years old from when information on investments really started to become 'available' for the masses? Think of how many successful people had already been well on their way by the time 1995 or 2000 rolled around, and some information was available on the net to truly understand the unbiased background of the finance industry. For a 50 or 55 year old who never turned on a computer before, it's not the easiest to suddenly get the motivation to learn what a computer is, and then randomly surf the net and become a self-taught Jack Bogle.

There have been some sources before the internet information revolution - such as a library - but many successful people merely kept their nose to the grindstone and kept plowing their business along, rather than distracting themselves with yet another thing to take up their limited time.

 

[donheff]

I will have to get to the heart of the matter, and have to do a more detailed A/B test for myself.

See the trouble you caused? A minute ago, I was happy with the status quo. Now, I wonder if I miss out on something.

It is good to live in the real world but you may have noticed that I said I am planning to get more. It is convenient.

Off topic, but here's how to buy a pack of bacon and freeze it for individual meals without having to thaw the entire pack. You'll need a roll of parchment paper or waxed paper

I will try this but NW's solution involves no cooking. The meal is ready in the three minutes it takes to fry the eggs (or the few minutes it takes to toast bread and apply peanut butter for the bacon PB sandwich).

 

[Koogie]

- but many successful people merely kept their nose to the grindstone and kept plowing their business along, rather than distracting themselves with yet another thing to take up their limited time.

+1 here. I would hesitate to call myself successful but I certainly find I don't have the time to compare vastly different portfolio options and taxation strategies while still running a business full time. I console myself by comparing the net return on the business every year against the "pile" and calling that my "rate of return" Not strictly true but it does offset the guilt I feel from my "analysis paralysis"

 

[brewer12345]

? Is Turkey bacon like the index fund of Bacon or is there something else out there?

Expand your horzons. Duck bacon is simply wonderful: Duck Bacon, Uncured Smoked Duck Bacon, Buy Natural and Organic Smoked Meat Online

 

[omni550]

Gotta disagree NW. I bought one of those packs thinking I could simplify my bacon and eggs. But I don't think it tastes as good as fresh cooked and it is definitely tougher. I may by another pack since it is a lot easier to microwave a few slices than to defrost a pack to remove a few and then cook them. but it isn't quite perfect yet.

donheff,

Here's my solution to the problem of defrosting a pack of bacon just to retrieve a few slices.

Whenever I buy bacon, I get out a sheet of saran wrap or plastic wrap (about 2 feet long) which I lay flat on the counter. After opening up the package of bacon, I pull out 3 strips (as a unit) at a time, which I place on the saran wrap, fold over the saran wrap and add another 3 strips, etc. until I have the bacon interleaved in the saran wrap. I then place this saran/bacon bundle in a ziplock baggie in the freezer. When I want bacon, I pull out the number of 3-strip units that I want. These thaw very quickly (especially if held under some warm running water, if you're in a real hurry).

omni

 

[MichaelB]

? Is Turkey bacon like the index fund of Bacon or is there something else out there?

unclemick, turkey bacon is like bacon without the taste or texture of bacon.

Expand your horzons. Duck bacon is simply wonderful: Duck Bacon, Uncured Smoked Duck Bacon, Buy Natural and Organic Smoked Meat Online

Haven't tried this, but will. We get wild boar bacon when the family gets together.

 

[REWahoo]

unclemick, turkey bacon is like bacon without the taste or texture of bacon.

DW likes the idea of turkey bacon but wasn't thrilled with the taste. I accept no imitations and want only the real thing. DW also does not like the lingering smell of cooked bacon in the kitchen.

I volunteered to cook up a pound of the real thing for me and a pound of turkey bacon for her outside on the grill. That way we avoid the smell and freeze it to use whenever needed.

Using an old baking pan, I fried up the real stuff, then fried the turkey bacon in the drippings. DW had no idea what I'd done but raves about much better turkey bacon is cooked on the grill...

 

[Nords]

DW had no idea what I'd done but raves about much better turkey bacon is cooked on the grill...

Maybe she's referring not to the flavor but the labor...

 

[pb4uski]

......I will try this but NW's solution involves no cooking. The meal is ready in the three minutes it takes to fry the eggs (or the few minutes it takes to toast bread and apply peanut butter for the bacon PB sandwich).

I learned a trick from my Mom. Cook a pound at a time and put the cooked bacon strips in a zip-lock baggie in the fridge. Then take out slices as you need them, nuke for about 10 seconds and you're done. EZ and economical. And it keeps for a long time.

Only downside is that it makes having bacon much easier.

 

[NW-Bound]

It is good to live in the real world but you may have noticed that I said I am planning to get more. It is convenient.

I will try this but NW's solution involves no cooking. The meal is ready in the three minutes it takes to fry the eggs (or the few minutes it takes to toast bread and apply peanut butter for the bacon PB sandwich).

My wife just tried the precooked bacon recently. The nice thing about the real bacon is that we can fry the eggs in the fat afterwards. I also save off the fat to use in cooking later. For example, I would use a tablespoon or two to saute soffritto for bolognese sauce.

Perhaps my wife has been overcooking bacon all these years, and renders too much fat out. I could hardly use up all the bacon fat that I saved, and we do not eat bacon and egg all that often.

PS. By the way, we have an additional outside electric stove top when cooking something that we do not want the lingering smell inside the house. Very worthwhile addition to the home. Wife said we could have put in a complete stove so that we would have two ovens for big parties.

 

[Koogie]

lol... "When Moderators Hijack Threads" or "Good Moderators Gone Bad"
just kidding. i LOVE bacon too

 

[BigNick]

When I want bacon, I pull out the number of 3-strip units that I want. These thaw very quickly (especially if held under some warm running water, if you're in a real hurry).

You thaw out bacon? I've always cooked it from frozen. It's not like there's going to be a big lump of ice in the middle as there might be with a huge lump of beef or a turkey.

Just drop the slab in the hot pan, wait 30 seconds, turn it over, peel off a slice, wait 30 seconds more, then repeat (waiting a little less between turns each time).

 

[Culture]

I have a very observant Muslim friend from Algeria. He has observed many times that his people/tribe in Algeria frequently hunt and eat pigs, although this is done out of sight (cooked and eaten in the wild when hunting).

He has never eaten bacon (or any pork) on purpose. He wants to so very badly. I try not to taunt him, but it is difficult when I order the bacon burger.

 

[Nords]

lol... "When Moderators Hijack Threads" or "Good Moderators Gone Bad"
just kidding. i LOVE bacon too

Nay, on the contrary, the moderators are specially selected & trained for their ability to introduce bacon topics to selected threads!

 

[unclemick]

Hypothesis - if I stop reading/watching silly investment stuff, buying an index fund(lifecycle type for my age) and research meaning things - like the in's and out's of BACON have we reached an ER theoretical breakthrough?

I don't remember reading anything like this on other investment forums.

I think we can take credit here.

heh heh heh - next we need a corallary including Football!

 

[NW-Bound]

I dunno about football, but RV seems to get a bit of interests.

Next topic: The best way to cook bacon while RV'ing. Would the smell attract bears if you are boondocking by the side of the Alcan highway? Betcha it does!

 

[friar1610]

I would use Bogleheads.org for any financial planning advice. There are tons of users that are also financial planners who do not have conflict of interest and is free.

I second this recommendation in the strongest possible terms. And (although nobody asked directly) I recommend Vanguard index funds, in an appropriate balance between equities, fixed income and cash, as the smartest and cheapest way to hold those low or high millions of dollars.

Others may disagree; I understand that but that's my philosophy.

 

[brewer12345]

Next topic: The best way to cook bacon while RV'ing. Would the smell attract bears if you are boondocking by the side of the Alcan highway? Betcha it does!

Strong smelling stuff like bacon surely would attract ursine critters, but I am told they have a strong sweet tooth and sweets are the most powerful bear attractant. Honey glazed bacon would probably be the ne plus utra.

Can/do bears ever invade RVs? Given the construction of most, I would guess that a sufficiently motivated bear would get into the average trailer or motorhome. When we are camping in bear territory (basically CO west of I25) I pack some large caliber bear medicine, but we are pretty careful to not leave things lying around that would attract bears. Always wonder if they would try to come into the camper where the food is.

 

[brewer12345]

I have a very observant Muslim friend from Algeria. He has observed many times that his people/tribe in Algeria frequently hunt and eat pigs, although this is done out of sight (cooked and eaten in the wild when hunting).

He has never eaten bacon (or any pork) on purpose. He wants to so very badly. I try not to taunt him, but it is difficult when I order the bacon burger.

Order the poor guy a packet of duck bacon.

 

[NW-Bound]

I have told my wife that if I croak unexpectedly, she is to transfer everything to Wellesley. Given the integrity of Vanguard and the fund, I would not be afraid of any shenanigan, besides having the confidence that the stable performance would continue. I might chose another fund outside of Vanguard, just for a bit more diversification and protection.

With that said, I shall get back to the bacon business and RV. The problem with traveling in Alaska is that one has to go through Canada, which has strict gun regulations. Handguns are a big no-no, and long guns require some licensing fees.

Nevertheless, I would not want to tempt any bear with the yummy bacon smell. Bear claw marks on trees have been observed more than 10 ft up, which is higher than my motor home. A big grizzly can easily rip the wall of an RV from top to bottom in one fell swoop. Guns or no guns, it is not easy to keep from wetting one's pants. A small gun may just get the bear itchy, making it madder . A 357 might be OK, but does it need all 6 shots to hit? And do you know how loud a large gun would sound inside a home, leave alone an RV? You would be deaf for a long time after the 1st shot, if your hearing is not permanently damaged.

No, definitely no bacon. Maybe just ramen noodles.

 

[brewer12345]

I have told my wife that if I croak unexpectedly, she is to transfer everything to Wellesley. Given the integrity of Vanguard and the fund, I would not be afraid of any shenanigan, besides having the confidence that the stable performance would continue. I might chose another fund outside of Vanguard, just for a bit more diversification and protection.

With that said, I shall get back to the bacon business and RV. The problem with traveling in Alaska is that one has to go through Canada, which has strict gun regulations. Handguns are a big no-no, and long guns require some licensing fees.

Nevertheless, I would not want to tempt any bear with the yummy bacon smell. Bear claw marks on trees have been observed more than 10 ft up, which is higher than my motor home. A big grizzly can easily rip the wall of an RV from top to bottom in one fell swoop. Guns or no guns, it is not easy to keep from wetting one's pants. A small gun may just get the bear itchy, making it madder . A 357 might be OK, but does it need all 6 shots to hit? And do you know how loud a large gun would sound inside a home, leave alone an RV? You would be deaf for a long time after the 1st shot, if your hearing is not permanently damaged.

No, definitely no bacon. Maybe just ramen noodles.

I keep an updated instruction list for DW in the event of my demise. Since she is not financially minded, a set of instructions is helpful. Plus, I expect everyone will be upset and a simple "to do" should make all the difference.

When I tried out my latest acquisition in the woods I coudl hear the echoes of the report off the nearest hill even through the hearing protectors I was wearing. I can imagine what the hearing loss would be in a confined space. But if it were a choice between my hearing and protecting DW and the kids, no contest. The carbine holds 10 rounds of .44 ammo, so I might be deaf for life but mr. bear would be a lump of greasy meat.

In any case, much smarter to be bear aware and keep attractants tucked away.

Edited to add: How is that for thread-jacking?