What is your financial Achilles' heel?

[Nightcap]

Anything made by Apple.

Otherwise, not much really.

+1

 

[flintnational]

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.

I am looking for a 61-65 IH Scout. Can you buy one fix it up and sell it to me? Sounds like we would both enjoy the transaction.

Seriously, I understand. I fish on the coast. I think my per pound cost for the catch is probably around $75 per pound. Fixing up cars might be a cheaper hobby.

FN

 

[cbo111]

moemg: i read your post this afternoon, got right up and prepared a spray bottle with your special recipe (yeah/yeah, i need to get a life)...but, you are so right....IT WORKS!!! How i made it to wayyyy the far side of half a century old without knowing about this amazing Dawn/vinegar magic is beyond me - thanks so much for sharing, this is BIG!

I use the dawn/vinegar spray for weeds on my long paver walkways. I can spray in the morning and see the weeds melting by the end of the day. Much better for the environment than Roundup.

 

[kumquat]

Some people call it sucking up, others might call it being a team player, depends. I also had a reputation for speaking my mind, but always with respect and from managements perspective. Otherwise it’s just complaining. Didn’t hurt my career.

I have a similar experience. One VP i reported to wanted "yes men", I didn't qualify. I remember one day getting supreme sh!t from my VP for saying something he didn't agree with to the CEO. Later, the CEO told everyone how nice it was to have honest peons. My career slowed a bit. A year or so later, said VP was 'out' and the new guy (not me) was singing my praises for (among other things) honesty and being able to translate "geek talk to English".

\EDit to add:

To get back on topic, I spend too much on tools, old British cars and grandchildren. But, WTF, I can afford all three.

 

[Moemg]

I use the dawn/vinegar spray for weeds on my long paver walkways. I can spray in the morning and see the weeds melting by the end of the day. Much better for the environment than Roundup.

Thanks , Our paver weeds drive us nuts !

 

[Quacker]

I second that thank you......& much much much less expensive than Roundup, too!

 

[RenoJay]

Some people call it sucking up, others might call it being a team player, depends. I also had a reputation for speaking my mind, but always with respect and from managements perspective. Otherwise it’s just complaining. Didn’t hurt my career.

I always disagreed with respect unless I was dealing with a narcissist or power-tripper (people who sometimes end up in management) in which case I’d let my feelings out no holds barred!

 

[68bucks]

I'm under 1 year till FIRE but my biggest worries are a market crash, healthcare cost, and performance of my company stock until I'm fully paid out. That will be 10 years and it's a pretty good chunk of money. My plan is that I'm still good if it drops 50%. Now if the market did the same I would probably not sleep well at night.

 

[Scuba]

After thinking about this, I'd say ours is wanting to live on the beach in So CA. We could have a much less expensive lifestyle if we lived in the Southeast or the Midwest but then we wouldn't have the CA outdoor lifestyle we love. Almost everything is more expensive in So CA, and the political climate is not favorable for those who own nice properties (measures keep passing that increase property taxes; ours are up 30+% in the last 3 years) or have higher incomes (double digit state income tax rates plus a 10.25% sales tax where we live). We hope to live in So CA for the rest of our lives, and worked an extra 3-5 years to fund this. If costs get too out of hand, Plan B is to move but we hope this will never be necessary. I suppose if it does, we can evaluate moving a bit inland compared to moving out of state but we'd rather not do either.

 

[Ready]

After thinking about this, I'd say ours is wanting to live on the beach in So CA. We could have a much less expensive lifestyle if we lived in the Southeast or the Midwest but then we wouldn't have the CA outdoor lifestyle we love. Almost everything is more expensive in So CA, and the political climate is not favorable for those who own nice properties (measures keep passing that increase property taxes; ours are up 30+% in the last 3 years) or have higher incomes (double digit state income tax rates plus a 10.25% sales tax where we live). We hope to live in So CA for the rest of our lives, and worked an extra 3-5 years to fund this. If costs get too out of hand, Plan B is to move but we hope this will never be necessary. I suppose if it does, we can evaluate moving a bit inland compared to moving out of state but we'd rather not do either.

Shouldn't your property taxes be capped at 2% increase per year with Prop 13?

 

[daylatedollarshort]

Shouldn't your property taxes be capped at 2% increase per year with Prop 13?

Our property taxes up here in the Bay Area don't seem to go up much each year. We're only paying about a third of a percent property tax rate based on current market valuations.

 

[Scuba]

Shouldn't your property taxes be capped at 2% increase per year with Prop 13?

This is true only when voters don't approve propositions. Several propositions have passed in the last few years, funding everything from schools, parks, roads/public transit, and other infrastructure. Many of these were funded via property taxes. However the majority of people in CA are not property owners. They vote for measures supporting all of these noble causes knowing it won't cost them a dime.

 

[Scuba]

Our property taxes up here in the Bay Area don't seem to go up much each year. We're only paying about a third of a percent property tax rate based on current market valuations.

Nice for you. Not true for us - it's around four times that. LA County is big on property tax funded measures. Do you not have that issue in the Bay Area?

 

[WestUniversity]

Any new tech products, such as the latest thing I've acquired, a SONOS system.

Also travel...

 

[ejman]

This is true only when voters don't approve propositions. Several propositions have passed in the last few years, funding everything from schools, parks, roads/public transit, and other infrastructure. Many of these were funded via property taxes. However the majority of people in CA are not property owners. They vote for measures supporting all of these noble causes knowing it won't cost them a dime.

Is this really true? Presumably the majority of the people that don't own property pay rent to someone that owns the property they live in. I'm pretty sure that the someone that owns the rental property will increase rents to cover this increase in costs ergo, everyone ends up paying more. Of course, the proposals are never presented this way on the ballots

 

[ejman]

My financial Achilles heel is myself...I'm the only one that keeps me from doing stupid financial stuff that would totally obliterate what I've accomplished over a lifetime. I'm only one sit down meal with a charismatic master financial con man(woman) away from disaster...

 

[Loving Life]

Trying to learn how finally spend our savings - its very hard thing to do after saving for so many years.

 

[daylatedollarshort]

Nice for you. Not true for us - it's around four times that. LA County is big on property tax funded measures. Do you not have that issue in the Bay Area?

I don't know if there are other counties where it is a big issue, it hasn't been for us over several decades of home ownership. Our local property tax rate would be higher for recent buyers not benefiting from Prop 13 but that is true in every county.

 

[davemartin88]

Tools

 

[REWahoo]

Tools

Hey!

You may not like some of the comments on this thread but there is no need to be rude...

 

[Totoro]

I think my Achilles heel is my unwillingness to concentrate assets, even when it makes sense. That, and my love of freedom.

It's why I haven't bought a house even when it was financially smart to do and fiscally stimulated, and why I broke away from employment in a high-pressure/high-reward all-consuming job even if doing it for a few more years would have changed my net worth likely with a multiple.

 

[MarieIG]

Is this really true? Presumably the majority of the people that don't own property pay rent to someone that owns the property they live in. I'm pretty sure that the someone that owns the rental property will increase rents to cover this increase in costs ergo, everyone ends up paying more. Of course, the proposals are never presented this way on the ballots

No. Not everybody. Think rent controlled, Sec. 8, mixed income housing, NYCHA, and local subsidies. The higher earners are frequently either subsidizing or completely carrying the tab. Sometimes when you're working 70 hours a week and paying half your income in taxes, the load seems a bit heavy . . . Hence, I suppose, a motivation for some for (early) retirement.

 

[ejman]

No. Not everybody. Think rent controlled, Sec. 8, mixed income housing, NYCHA, and local subsidies. The higher earners are frequently either subsidizing or completely carrying the tab. Sometimes when you're working 70 hours a week and paying half your income in taxes, the load seems a bit heavy . . . Hence, I suppose, a motivation for some for (early) retirement.

I hadn't realized the NYCHA ( New York City Housing Authority) owned housing in California (the post I was responding to mentioned CA property taxes) but I guess I stand corrected and I commend the NYCHA for absorbing those additional costs in California- very thoughtful of them

 

[Scuba]

I hadn't realized the NYCHA ( New York City Housing Authority) owned housing in California (the post I was responding to mentioned CA property taxes) but I guess I stand corrected and I commend the NYCHA for absorbing those additional costs in California- very thoughtful of them

While theoretically yes most people other than homeless & Sec 8 folks end up absorbing costs in the long run, I don't think the average person connects the dots as there is not the same immediate impact to them if they are renters. Asking people if they want more funding for schools, parks, public transit, etc. with no immediate need for them to pay for it usually gets voted in, at least in LA County. If the ballot said: do you support a 20% increase in your monthly housing costs to support schools, parks, etc., I have to believe fewer of these measures would pass.

But so far, we continue to put up with this because we love the lifestyle.

 

[GravitySucks]

I hadn't realized the NYCHA ( New York City Housing Authority) owned housing in California (the post I was responding to mentioned CA property taxes) but I guess I stand corrected and I commend the NYCHA for absorbing those additional costs in California- very thoughtful of them

As a NY State tax payer, I find it plausible.