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What is your financial Achilles' heel?
10-22-2017, 09:23 AM
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#1
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Moderator
Join Date: Jul 2017
Posts: 5,656
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What is your financial Achilles' heel?
Do you have a financial Achilles' heel? For example, I had thought that I was pretty resistant to pleas for money from certain relatives. No, I won't co-sign a loan, no I'm not buying that, you want it you buy it yourself. (I'm not talking about normal expenses when raising a family, and would have kicked in if my or DH's parents needed support - they were good parents and not spendthrifts).
I am the financial hardnose in the family. I reign in DH who has a soft heart and would empty his bank account buying gifts (not necessities) for grown kiddos and me.
Oldest son (an adult) got me though. A call from the vet's office, DGD (grand dog) ate a beer can, not enough money to cover the surgery, put the surgery on parents' card or dog dies. Not to mention the $ we spent (unsuccessfully) trying to save our sweet kitty this month, but I can't regret that.
So, do you have a financial Achilles' heel?
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10-22-2017, 11:07 AM
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#2
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Full time employment: Posting here.
Join Date: Aug 2015
Posts: 550
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Much Higher than average anticipated inflation, stock market crush followed by depression.
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10-22-2017, 11:26 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Posts: 12,596
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I'm trying to figure out how this could even happen! Is this a very large dog with a very large mouth and throat? It sounds like the dog survived; I hope so, anyway!
Quote:
Originally Posted by MarieIG
DGD (grand dog) ate a beer can,
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__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
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10-22-2017, 11:31 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 7,001
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I am a sucker for animals too )
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10-22-2017, 11:31 AM
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#5
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,299
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Chocolate Mint Ice Cream on sale. Last time it was $2 each if you bought six. I wanted to buy 12 but DW stopped me. Meanie.
Ultra micro (UMX) radio control model aircraft. I think I have about twelve now and two on backorder.
For DW it is any and all perceived needs or wants of grandnieces or grandnephews.
__________________
When I was a kid I wanted to be older. This is not what I expected.
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10-22-2017, 11:51 AM
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#6
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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: 7,865
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Excessive safety over having some fun.
Right now my net spending is less than 1% of my FIRE stash.
I ask myself what am I saving it for, and currently the answers seem to be:
1. Protection against the next pullback - coming soon to a theatre near you - pushing my spending rate over 4%.
2. Having more money in case my kids' college ends up costing more than I have saved.
3. Seeing money pile up is more fun than whatever fun I could have with it, aka SMGDS, aka Scrooge McDuck Gold Diving Syndrome.
__________________
"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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10-22-2017, 01:09 PM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
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DW
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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10-22-2017, 01:20 PM
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#8
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Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,642
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Buying old cars, fixing them up and selling them for less than I have in them. Sounds foolish, but it keeps me occupied and out of the bars.
__________________
*********Go Astros!*********
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10-22-2017, 02:55 PM
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#9
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Full time employment: Posting here.
Join Date: Sep 2016
Location: Way up North
Posts: 561
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Getting divorced.
Don't have to worry about that one much anymore, I finally learned my lesson 22 years ago.
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10-22-2017, 03:02 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Dec 2016
Location: DC area
Posts: 2,479
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Health insurance.
__________________
FI and Semi-ER March 24, 2017
Consulting to stay engaged
"All models are wrong, some are useful." - George Box
“There is always a well-known solution to every human problem: neat, plausible, and wrong.” - H.L. Mencken
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What is your financial Achilles' heel?
10-22-2017, 03:23 PM
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#11
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Recycles dryer sheets
Join Date: Feb 2014
Posts: 157
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What is your financial Achilles' heel?
About 20% of retirement income is in a non-guaranteed pension supplemental payment.
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10-22-2017, 03:27 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Jul 2015
Location: Beaverton
Posts: 1,382
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Wine. Especially after 4-5 tastings. Then it's all good
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Jump in, the water's warm.
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10-22-2017, 03:30 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Williston, FL
Posts: 3,925
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Ice cream and strippers.
I hate paying estimated taxes, but I plug my nose and do it.
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
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10-22-2017, 04:28 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Feb 2013
Location: Toronto
Posts: 3,320
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I suspect it will be the children but not really so far but the game is still in the early going. Might be travel too.
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10-22-2017, 04:33 PM
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#15
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Full time employment: Posting here.
Join Date: Dec 2015
Location: Vancouver
Posts: 915
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Our cat's getting old too but she's been relatively healthy <knock on wood>.
I dread the day if/when we need to make a decision on a big vet bill.
__________________
Good Riddance. April 2022
"Yes, there's some shady stuff going down but it's fuelled by stupidity."
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10-22-2017, 04:44 PM
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#16
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Thinks s/he gets paid by the post
Join Date: Mar 2015
Location: philly
Posts: 1,219
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Louie Vuitton bags.
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My darling girl, when are you going to realize that being "normal" is not necessarily a virtue? it sometimes rather denotes a lack of courage~Aunt Francis
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10-22-2017, 04:58 PM
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#17
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Thinks s/he gets paid by the post
Join Date: Dec 2015
Location: Michigan
Posts: 4,960
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Quote:
Chocolate Mint Ice Cream on sale.
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Well, yes.
Also, it used to be trying to beat/time the stock market. I cured myself of that a few years ago.
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"The mountains are calling, and I must go." John Muir
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10-22-2017, 05:00 PM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,200
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Probably (legally) avoiding taxes to a fault. I let avoiding taxes influence rebalancing and asset allocation a little more than most here probably do. I’m a little worried it’s going to catch up with me when we/I reach the tax torpedo years (taking SS, paying RMD’s and withdrawals), but every analysis I’ve done says paying now or paying later will be about a wash even though I am assuming higher personal taxes in the future, so I stand pat.
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No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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10-22-2017, 05:24 PM
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#19
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Moderator
Join Date: Jul 2017
Posts: 5,656
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Quote:
Originally Posted by Amethyst
I'm trying to figure out how this could even happen! Is this a very large dog with a very large mouth and throat? It sounds like the dog survived; I hope so, anyway!
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She she did! Her head and mouth are enormous. She a rather large pit bull.
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10-22-2017, 05:30 PM
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#20
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Occasional ill-advised purchases.
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