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04-03-2008, 11:57 AM
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#21
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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04-03-2008, 12:06 PM
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#22
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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 Quote:
Originally Posted by FinanceDude
They need some extra LI outside of what they can get through their company, so we're working on that.
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I hope you told them to "Buy term and invest the rest"! 
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04-03-2008, 12:09 PM
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#23
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
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Quote:
Good move in leaving their investment parts alone. They are doing really well all on their own! 
P.S. - - let us know if they start sending out a newsletter! 
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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04-03-2008, 12:12 PM
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#24
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,340
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DW has a nephew like them. They're smart, about 33-35, both work in stable jobs, no kids early (one on the way now) and and they bought a 2nd home on a lake last year. The nephew's parents, who didn't plan quite so well, will be the caretakers of the house. They figure the 2nd house is a good investment since they have no plans to flip it and it's their vacation spot.
They'd make a lousy news story.
__________________
When I was a kid I wanted to be older. This is not what I expected.
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04-03-2008, 12:33 PM
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#25
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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I wonder if some of these habits are in good part anyway genetic.
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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04-03-2008, 12:52 PM
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#26
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
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Quote:
Originally Posted by Rivrider
For various reasons the 'hard luck' stories are going to get all the attention for a while. Folks like these will come under the heading 'good news is no news'.
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IMO 'hard luck' stories get the attention because it makes some people feel better when they see someone who has it worse than them.
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
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04-03-2008, 12:52 PM
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#27
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Thinks s/he gets paid by the post
Join Date: Nov 2007
Posts: 1,052
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On topic, I just finished reading a report stating that the average American saves .3% of their income. So, on average, Americans are saving 30 cents of every $100 they earn. Not very hopeful. And the government wants to send us each $300 and tell us to go spend it somewhere. It seems that spending isn't the problem.
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04-03-2008, 12:55 PM
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#28
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2006
Posts: 12,880
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You forgot to mention that they have a total annual income of $898,000.
No you know the rest of the story.
__________________
Al
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04-03-2008, 02:15 PM
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#29
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2006
Location: Boise
Posts: 7,882
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FD,
They are obviously doing very well.
One of your suggestions might have been to increase their Roth funding. The annual limit this year for an "young" individual is $5,000; they are only putting in $3K per year.
Of course that depends on their other goals...
2Cor521
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
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04-03-2008, 02:31 PM
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#30
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 2,360
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Good suggestion, 2Cor521.
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
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04-03-2008, 02:35 PM
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#31
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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Quote:
Originally Posted by SecondCor521
FD,
They are obviously doing very well.
One of your suggestions might have been to increase their Roth funding. The annual limit this year for an "young" individual is $5,000; they are only putting in $3K per year.
Of course that depends on their other goals...
2Cor521
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I mentioned that, of course...turns out that's all they can afford to do..........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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04-03-2008, 02:36 PM
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#32
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
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Quote:
Originally Posted by Art G
On topic, I just finished reading a report stating that the average American saves .3% of their income. So, on average, Americans are saving 30 cents of every $100 they earn. Not very hopeful. And the government wants to send us each $300 and tell us to go spend it somewhere. It seems that spending isn't the problem.
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The 'average' American has learned their saving/spending habits from their relative - Uncle Sam. 
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
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04-03-2008, 05:48 PM
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#33
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Full time employment: Posting here.
Join Date: Jul 2007
Posts: 678
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Quote:
Originally Posted by Keim
Exactly. When I was studying communication in college we called this "Perceived Mediated Reality Syndrome." If you watch it on TV enough, even in fictional shows, you start to think what you are seeing is the norm.
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That's one of the reasons I am on this board so much. Reading about others' financial progress here, it feels only right to save a significant amount. I like this good influence! Also, those "what's the latest cheap thing you've done?" threads make me 1) more frugal, and 2) feeling that I am just normal when it comes to LBYM.
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04-03-2008, 05:54 PM
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#34
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Quote:
Originally Posted by TromboneAl
You forgot to mention that they have a total annual income of $898,000.
No you know the rest of the story.
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Come on AL 898,000 is hard to get by on . Cut them guys a bit of slack. 
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04-03-2008, 06:20 PM
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#35
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
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For $898,000 I might have stuck around for another year.
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
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04-06-2008, 12:02 PM
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#36
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Thinks s/he gets paid by the post
Join Date: Aug 2004
Location: St. Louis
Posts: 2,179
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Quote:
Originally Posted by FinanceDude
Well, what if I told you they gave up cable, and are using the monthly savings to build up a
baby fund" so they don't have to use credit to buy all the expensive stuff you need for new babies?
Like I said, they ARE planners.......... |
Hey FD - does either one have a sister that's single?
__________________
Dryer sheets Schmyer sheets
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10-30-2012, 11:23 AM
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#37
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Location: Moscow
Posts: 1,572
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I got out my shovel and dug up an old thread...
Hey FinanceDude: It would be interesting to see how this couple has weathered the recession. And how having a kid impacted their finances.
__________________
You can't enlighten the unconscious.
But you can hit'em upside the head a few times to make sure they are really out...
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10-30-2012, 11:51 AM
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#38
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Recycles dryer sheets
Join Date: Jan 2010
Posts: 91
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Quote:
Originally Posted by Keim
I got out my shovel and dug up an old thread...
Hey FinanceDude: It would be interesting to see how this couple has weathered the recession. And how having a kid impacted their finances.
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Also curious for an update. We could have been that couple in early 2008, our NW was about 179K at the time. Fast forward 4.5 years, and we've got 2 kids and only one job (DH stays home with kids), and NW is now 356K. Not too shabby, but returns have not been 9+%, unfortunately.
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10-30-2012, 11:56 AM
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#39
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Full time employment: Posting here.
Join Date: Feb 2012
Posts: 648
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Quote:
Originally Posted by Walt34
DW has a nephew like them. They're smart, about 33-35, both work in stable jobs, no kids early (one on the way now) and and they bought a 2nd home on a lake last year. The nephew's parents, who didn't plan quite so well, will be the caretakers of the house. They figure the 2nd house is a good investment since they have no plans to flip it and it's their vacation spot.
They'd make a lousy news story.
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I'd read it 
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10-30-2012, 12:50 PM
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#40
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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Quote:
Originally Posted by Keim
I got out my shovel and dug up an old thread...
Hey FinanceDude: It would be interesting to see how this couple has weathered the recession. And how having a kid impacted their finances.
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They have 1-year old twin girls. They are maxing out Roth contributions, also he is maxing out his 401K at work. They have a joint account with $70,000 in it, also an emergency account with $30K in the bank. They had to replace 3 old cars with 2 larger newer ones in the past year, but managed to do it without tapping savings. So far, so good. They are taking the dividends from their joint account and using it to make their car payments for now. They have survived and quite honestly thrived. So, doing quite welll...........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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