The Difference LBYM means

[Nemo2]

That is why I think it is better to deal in %. Less envy develops.

The zeros are easy - it's the positive integers preceding them that can be problematic.

 

[brett]

Anyone who looked at our chequeing account balance at some pointy drugging the month soul have an extremely erroneous view of our personal finances and net worth. The cash flow might be more telling. We move everything out of the bank and into higher return locales.

Perhaps your friend fries the same.

 

[braumeister]

I once had a spell checker like brett's. Occasionally most amusing!

 

[MichaelB]

I once had a spell checker like brett's.

Great first line for a limerick

 

[Nemo2]

Great first line for a limerick

Second line?

"That emulated doobie cigarettes.."

 

[jjquantz]

Second line?

"That emulated doobie cigarettes.."

Third line:

It scrambled the sense...

 

[braumeister]

And altered the tense ...

 

[braumeister]

But I never had any regrets.

 

[braumeister]

We now return you to the regularly scheduled journey to Nantucket.

 

[Quest4Fire]

That zeroed his checking account pence.

 

[Cobra9777]

Anyone who looked at our chequeing account balance at some pointy drugging the month soul have an extremely erroneous view of our personal finances and net worth. The cash flow might be more telling. We move everything out of the bank and into higher return locales.

Perhaps your friend fries the same.

I had a good chuckle after reading brett's post. Then I read the limerick that followed. Nice work guys.

 

[marko]

I had a good chuckle after reading brett's post. Then I read the limerick that followed. Nice work guys.

Bravo!

(T'was brilling and the slithy toves....)

 

[Live And Learn]

I had a good chuckle after reading brett's post. Then I read the limerick that followed. Nice work guys.

+1
Hysterical ! Thanks for the good laugh. Best part of the thread

 

[fishnfool]

I don't care about his money management skills...how was the fishing?

 

[Senator]

I don't care about his money management skills...how was the fishing?

The day we went with the Guide, we caught about 20 fish. Mostly between 22" and 24" walleyes. We could only keep them under 17", which is small. Or over 28", which is a once-in-a-lifetime fish.

We caught enough for a decent shore lunch for 3 guys, with lots to eat.

The next day, we went out in an unguided boat, and caught one 14" walleye. Big difference with a guide.

 

[jazz4cash]

This is more of a money management issue to me. I keep the bare minimum in checking because the interest is nil. I have overdraft protection and credit cards for the unforeseen. My emergency funds are in savings accounts. Having only $10 in checking=no problem. Not knowing you only have $10 in checking =big problem. No smartphone to check his balance?


Sent from my iPhone using Early Retirement Forum

 

[Senator]

No smartphone to check his balance?

Of course. Nothing short of the latest Samsung S6 phone. Through Verizon, the most expensive carrier. Of course, it's only $225 a month...

We discussed the phone plans, as i did not have service on my carrier...

 

[jazz4cash]

Of course. Nothing short of the latest Samsung S6 phone. Through Verizon, the most expensive carrier. Of course, it's only $225 a month...

We discussed the phone plans, as i did not have service on my carrier...

So he did have service and failed to check? I find lots of folks rarely use their smartphones for more than phone calls, text messages, games, email and social media of course.

 

[Moemg]

I have discovered that there are a lot of people who live very nice retirement lifestyles with little money and no stress about money . I was out with a friend on Monday . This friend travels a lot , routinely dines out , just remodeled her kitchen , has a pool guy & a cleaning lady . So when I mentioned I recently lost $100,000 in the market she remarked I wish I had a $100,000 to lose . I was shocked but it made me reevaluate . I do not have a cleaning lady or a pool guy & my kitchen could use an update so who is the smart one ? Someone who lives a devil may care life or someone who lives a LBYM life so they will not end up a bag lady ?

 

[Totoro]

In a significant % of cases (i.e. Lady dies early, gets an inheritance, wins lottery) she is right.

In all other cases ..

 

[marko]

I have discovered that there are a lot of people who live very nice retirement lifestyles with little money and no stress about money . I was out with a friend on Monday . This friend travels a lot , routinely dines out , just remodeled her kitchen , has a pool guy & a cleaning lady . So when I mentioned I recently lost $100,000 in the market she remarked I wish I had a $100,000 to lose . I was shocked but it made me reevaluate . I do not have a cleaning lady or a pool guy & my kitchen could use an update so who is the smart one ? Someone who lives a devil may care life or someone who lives a LBYM life so they will not end up a bag lady ?

A trust fund baby or someone with a nice pension might have very little assets of their own but still have a very nice income. Lots of people get to RE and FI without LBYM.

Who's the smart one? Good discussion point...is RE the goal regardless of how you get there? Is the FI part always a requirement? Is FI the goal?

Like the OP who's buddy sort of drifts from one "opportunity" to another, I'm not sure LBYM is a strict requirement.

 

[Senator]

So he did have service and failed to check? I find lots of folks rarely use their smartphones for more than phone calls, text messages, games, email and social media of course.

He did have service, like 5 bars.

He made a deposit from his last paycheck and vacation balances at the ATM, but it was not cleared. Either way, it was too close for my comfort.

 

[redduck]

...He said he should get some money from an inheritance in a few years to pay off about half of the mortgage.

That's my plan, too. I just need to find some new, rich relatives.

No, travelover, you need to find some old, rich relatives.

 

[Danmar]

A trust fund baby or someone with a nice pension might have very little assets of their own but still have a very nice income. Lots of people get to RE and FI without LBYM.

Who's the smart one? Good discussion point...is RE the goal regardless of how you get there? Is the FI part always a requirement? Is FI the goal?

Like the OP who's buddy sort of drifts from one "opportunity" to another, I'm not sure LBYM is a strict requirement.

Interesting points. I think a good pension implies LBYM at some point. A big inheritance wouldn't of course, but this is pretty hard to plan for. There are ways to get to FI and a nice retirement without undo LBYM though. Senior exec, maybe with some options, small business owner that grows it into something lucrative, somebody that get's lucky(of smart) in the market, lottery win? You don't always have to save $xxx per month for 35 years to get to FI.

Who's the smart one? Who's the lucky one? Better to be lucky than smart? I think you assess this based on how well they played the hand they were dealt. Lot's of different ways to get to FI or to never get to FI, as we have discussed earlier in this thread.

 

[kcowan]

I had a friend whose father never worried about money. He was discussing buying a new car with his son and then later he died of a heart attack. They found that the purchase of a new car would have wiped out his savings. Lucky?