I Wonder How Much I’ve Saved From Advice Here?

[kgtest]

Yes, I think.that is what Midpack is referring to. Many of us jettisoned our bond funds in early 2022 and replaced them with ladders of CDs (commonly brokered CDs), US Treasury securities, Agency bonds and high grade corporate bonds and sidestepped the ~13% decline in broad based bond funds and ETFs in 2022.

That is a big reason why so many forum members has lower losses in 2022 than their AAs would suggest.

Someone on this forum told me a 26 yr old shouldn't have ANY bonds back when I was 26 and had bonds hahaha. I sold those and took a nice ride up on the equities elevator...right to the penthouse, before equities fell over the patio railing in 2022 lol.

 

[38Chevy454]

Like many previous answers, I can't quantify. But qualitatively I have learned and increased my financial knowledge over the years. Some items have direct application for me, others are not part of concerns. But still good information, that might apply at a later date? Who knows, however I will likely be in better financial position at that time thanks to the E-R forum.

 

[calmloki]

Lawsy! Have saved and made a great plenty here over the years - most recently on Navy Federal's 5% 15 month CD offer. We had six CDs there maturing around the end of 2024 and making 3 -3.5%. It was a one year interest penalty to break the CDs or they would roll them into new 5 year 4.25% penalty free. I waited, then read here about Navy waiving penalties when rolling into their special CD, so texted (another great tip) and combined all the CDs into one 5% 15 month. That was worth thousands on our $227k worth of CDs.

Treasuries? I-bonds? Marcus bank and it's 1%interest bonus for every new customer referral - and the new customer gets the same bonus? I'm doing things I probably wouldn't have done on my own - and the return is great. Thanks folks.

 

[Car-Guy]

To me, this site is just another source of investment info. (Some good, and some well....) Some "opinions" have made me stop and think but I honestly can't point to any specific post(s) that made me change my investment or money management strategies. But I think I at least understand others POV's better.

However, I have learned a good bit more about US tax laws/rules from a few folks on this forum. I've seen a number of posts over the years about tax laws that made me seek out a lot more detail. (Usually from the IRS publications) I've found that to be very useful.

 

[MRG]

Lots of good financial advice, ACA, Medicare, and SS. Of course, the person who saved my wife and I from blowing up a couple of times is greatly appreciated.

 

[ncbill]

Lots of great stuff here including the Roth conversion videos...I switched to the "drawdown" strategy.

 

[GravitySucks]

I couldn’t even guess how much I saved by sidestepping mistakes.
I’ve probably saved hours of my time just with Gumby’s income trigger point posts though.

 

[marko]

To me, this site is just another source of investment info. (Some good, and some well....) Some "opinions" have made me stop and think but I honestly can't point to any specific post(s) that made me change my investment or money management strategies. But I think I at least understand others POV's better.

However, I have learned a good bit more about US tax laws/rules from a few folks on this forum. I've seen a number of posts over the years about tax laws that made me seek out a lot more detail. (Usually from the IRS publications) I've found that to be very useful.

I (and I suspect many others) didn't have an investment strategy before I found this site. I had no clue what I was doing and left it all to 'advisors'. I'm fully DIY now thanks to the guidance of the good folks here (and a bit of my own homework).

 

[Car-Guy]

^^^^^
I guess in my case, my investment strategies were pretty well en-grained well before I found this site ~15 years ago. And so far, nothing has convinced me to change. Lot's of useful info though.

 

[FIREd_2015]

Couple of things off the top of my head

- found out about JasonHealth.com on this site which saved me a couple of hundred dollars recently
- someone posted the 24 Hour Fitness Black Friday deal when I was about to sign up at full price. Another several hundred dollars in saving
- learned about Fidelity's TurboTax offer from here
- Some good book recommendations - Die with Zero was one of them
- Someone posted a problem with a garage door opener and it turns out my started doing exactly the same thing. The responses saved me another several hundred dollars

 

[Koolau]

If nothing else, I've learned what I need to research on my own. I was pretty much clueless before starting here on the forum. Now, at least, I am less so.

Thanks to all the contributors!

 

[foxfirev5]

I got rid of the bond funds well before the crash. My Fidelity advisor told me so.

IMHO that's a pretty radical recommendation from a Fido advisor.

 

[Koolau]

IMHO that's a pretty radical recommendation from a Fido advisor.

Indeed. Sounds more like Fast Eddie to me. When I visited an EJ "shop" the guy promised he'd get me into and out of stuff on time. Didn't believe him then and wouldn't believe anyone now.

 

[donheff]

No idea what it has saved me but it sure is a great source of information, and not just financial. If I have a weird problem I often ask here because there are so many talented people who are willing to share their knowledge.

This is my favorite forum by far.

 

[Out of Steam]

Most of the savings will probably be in the future, connected with IRMAA.

The immediate savings was at least $1000-1200 in taxes on Roth conversions in 2020 and 2021. I realized after reading here that I had some headroom to make conversions in the 12% tax bracket. Did not have that this opportunity in 2022, as my wife worked more than expected.

Of course, that $1200 is about the cost of the 55" OLED TV that I've gotten the idea to buy here.

 

[ER604me]

Extremely grateful for the knowledge shared by many here. I've used a great deal of advice from here to help my mother manage her finances and shared the same with my siblings & kids. Ibonds, getting out of bond funds, finding MM that pay and all the fixed income advice alone have saved us thousands. The knowledge and confidence I've gained making financial decisions and learning has been priceless.

 

[Born2Fish]

I have been helped by so many different people here on many different topics - ACA, Medicare, Social Security, FireCalc, Roth Conversions, Tax estimating, investing (Options, Preferred stocks, CDs, T-Bills, Corp Notes, Agency bonds).

Thanks to all of you who pitch in and teach us how to succeed!

 

[Zona]

I have learned so much here, particularly about Roth conversions, tax loss harvesting, iBonds, and withdrawal strategies. Those are the financial discussions that have helped me in the “now” in our late 40’s/early 50’s. But I’ve also learned about financial topics that will be very helpful as we reach milestone ages like 59.5, 65, 70, 72, etc. These are conversations that I just don’t have with friends and loved ones because financial specifics are never discussed. I would guess the savings to me personally so far are in the low-ish five figures. Plus the “life energy” savings of realizing that we had enough to retire early, which is hard to put a dollar value on.

Not to mention the wonderful personal topics like how to live a good life, the value of stoicism, charitable giving strategies, blowing the dough because you can’t take it with you, what’s good on tv, and cheese.

Thanks to everyone who keeps the discussion informative, respectful, and interesting! I always learn something new here!

 

[kgtest]

I (and I suspect many others) didn't have an investment strategy before I found this site. I had no clue what I was doing and left it all to 'advisors'. I'm fully DIY now thanks to the guidance of the good folks here (and a bit of my own homework).

That's a great point. Not having to pay 1 to 3% on advisor fees and likely a few more percent in front-loaded crap investments they would put me in has saved us thousands.

 

[SunGuy]

Fee based fiduciary financial advisors and financial coaches are worth it for people without the time to do it themselves, other than those types of people, don't bother.