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Old 06-27-2016, 11:23 AM  
DaFace DaFace is offline
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Personal finance and investing megathread extravaganza

I know lewdog (and maybe others) have mentioned the desire to have a place to chat about personal finance stuff. We'll see if there's enough interest to keep this going in the long-term, but at least for now, here's a place to chat about whatever personal finance topics come up.



If you're just getting started thinking about saving and don't know where to begin, this flow chart can help. Ask for advice in the thread for more help!

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Old 07-09-2016, 01:11 PM   #166
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I retired in 2012.

Live below your means. Avoid debt. Invest long term. And if you don't consider yourself a financial wizard (and I'm certainly not) consider using an adviser who acts as a fiduciary.

Retirement is awesome. I strongly recommend it as soon as you can. Especially if you have a large family. Just make sure you are financially prepared.

Time passes quickly when you're alive.
How old were you when you retired?

Did you get bored early on?

Did you find yourself spending money you wouldn't normally because so much time on your hands?

Many of your friends also retired or no pals to hang with during the day?

Gain weight by hanging around alot or lose weight because you decided to use your time to get in shape?

Any charity or volunteer work?

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Old 07-09-2016, 01:14 PM   #167
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Looking at (NVDA). Very,Very intriguing ! Would be interested in a Rainman analysis.
I'm not really very good at stock analysis these days. I just use three simple rules: are revenues growing, is it consistently profitable, and does it pay a dividend. NVDA seems to pass all of those tests, which intrigues me since I'm sitting on a bunch of cash right now and looking for some good stocks. I generally go for dividends greater than 1%, but I need a bit more tech stock and they aren't big dividend payers.
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Old 07-09-2016, 01:43 PM   #168
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Personally, I feel a significant financial event will happen in the next two years based on the strength of the US dollar and weaknesses in the global economy. Specifically, a reckoning is coming to agriculture in the US. Due to the operating cycles, agricultural operations typically take bad years like this year and use equity to shore them up. However, land prices haven't dropped significantly yet despite the significant drop in commodity prices. As soon as the land prices start to correct, the equity in farm operations will no longer be in place to support carrying over bad years. As a result, liquidations will start to occur, further driving down land prices, further evaporating equity in struggling operations, forcing another wave of liquidations.
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Old 07-09-2016, 03:59 PM   #169
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Originally Posted by Nightfyre View Post
Personally, I feel a significant financial event will happen in the next two years based on the strength of the US dollar and weaknesses in the global economy. Specifically, a reckoning is coming to agriculture in the US. Due to the operating cycles, agricultural operations typically take bad years like this year and use equity to shore them up. However, land prices haven't dropped significantly yet despite the significant drop in commodity prices. As soon as the land prices start to correct, the equity in farm operations will no longer be in place to support carrying over bad years. As a result, liquidations will start to occur, further driving down land prices, further evaporating equity in struggling operations, forcing another wave of liquidations.
What makes you think that the land prices will correct? My understanding is that land is now owned by folks wanting to preserve theor wealth, not by the farmers.
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Old 07-09-2016, 04:06 PM   #170
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What makes you think that the land prices will correct? My understanding is that land is now owned by folks wanting to preserve theor wealth, not by the farmers.
The vast majority of farming done (in my area, anyway) is done by owner-operators. There are some lease and share-farm arrangements; however, with the fall of lease prices, the value/price of land must also follow.

Right now, land sales are sparse, and when they do occur, they are done with historical crop prices in mind. When these farmers are forced to liquidate, either in an effort to payoff operating carryover or through foreclosure, a lot of land will hit the market simultaneously. Valuations must then adjust to make economic sense, based on a cap rate and operating cash flows going forward. When this adjustment hits, it will be significant.
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Old 07-09-2016, 04:12 PM   #171
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You look like a high roller, man. Three books!

Lord Jesus, I enjoy your posts.
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Old 07-09-2016, 05:27 PM   #172
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The other day at work we were discussing saving for retirement and amassing a large sum for retirement.....one of the guys was talking about his Father in Law and how he had lived frugally, saved wisely and had set himself up for a very comfortable retirement.

He retired at age 65 like he had planned....5 months after he retired he was playing golf on a course in Phoenix while on a trip with his wife and had a heart attack. He never made it off the golf course alive.

About 3 months after burying his Father In Law, his wife went over to check on her Mom since she hadn't heard from her for a couple of days and found her dead.

He lamented how they had lived so frugally, sent their kids to college, and saved wisely so they could enjoy retirement and never got the chance to. What was worse was watching how the kids fought over dispersal of the estate.

Sometimes even if you make the best plans it still doesn't mean everything will turn out like you plan. You still have to plan for retirement but don't forget to enjoy your life along the way.
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Old 07-09-2016, 07:46 PM   #173
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Quote:
Originally Posted by Mosbonian View Post
The other day at work we were discussing saving for retirement and amassing a large sum for retirement.....one of the guys was talking about his Father in Law and how he had lived frugally, saved wisely and had set himself up for a very comfortable retirement.

He retired at age 65 like he had planned....5 months after he retired he was playing golf on a course in Phoenix while on a trip with his wife and had a heart attack. He never made it off the golf course alive.

About 3 months after burying his Father In Law, his wife went over to check on her Mom since she hadn't heard from her for a couple of days and found her dead.

He lamented how they had lived so frugally, sent their kids to college, and saved wisely so they could enjoy retirement and never got the chance to. What was worse was watching how the kids fought over dispersal of the estate.

Sometimes even if you make the best plans it still doesn't mean everything will turn out like you plan. You still have to plan for retirement but don't forget to enjoy your life along the way.

That guy obviously enjoyed life along the way by eating to much French fries.
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Old 07-09-2016, 07:49 PM   #174
Demonpenz Demonpenz is online now
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Everyday you save for retirement makes me happy and is something I can look forward. If I die and don't get the Cas oh well. It day in and day out gave me something to look forward to.
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Old 07-09-2016, 08:00 PM   #175
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Quote:
Originally Posted by Mosbonian View Post
The other day at work we were discussing saving for retirement and amassing a large sum for retirement.....one of the guys was talking about his Father in Law and how he had lived frugally, saved wisely and had set himself up for a very comfortable retirement.

He retired at age 65 like he had planned....5 months after he retired he was playing golf on a course in Phoenix while on a trip with his wife and had a heart attack. He never made it off the golf course alive.

About 3 months after burying his Father In Law, his wife went over to check on her Mom since she hadn't heard from her for a couple of days and found her dead.

He lamented how they had lived so frugally, sent their kids to college, and saved wisely so they could enjoy retirement and never got the chance to. What was worse was watching how the kids fought over dispersal of the estate.

Sometimes even if you make the best plans it still doesn't mean everything will turn out like you plan. You still have to plan for retirement but don't forget to enjoy your life along the way.
That's my thinking right now. I'm saving like crazy for retirement because it scares me to death that I'll run out of money when I'm 80, but at the same time I don't want to save like crazy and then drop dead at 65. So I'm having some fun with it just in case, even though I recognize the tradeoff. Every $1,000 I spend now is a week later that I can retire, but there's no guarantee that I'll be alive tomorrow, much less 15 years from now.
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Old 07-09-2016, 08:10 PM   #176
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You guys have really got me thinking. Maybe I should go with the Hookers and Coke life for a while. Never done that. was gonna wait until retirement.
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Old 07-09-2016, 08:13 PM   #177
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You guys have really got me thinking. Maybe I should go with the Hookers and Coke life for a while. Never done that. was gonna wait until retirement.
Was worth every ****ing penny.
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Old 07-09-2016, 08:48 PM   #178
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Was worth every ****ing penny.
But is there anything to show the next day for your investment ?
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Old 07-09-2016, 09:15 PM   #179
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But is there anything to show the next day for your investment ?
We are making memories here.
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Old 07-09-2016, 09:55 PM   #180
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Jesus you're awesome. So I had always thought of Tony Robbins as some ridiculous snake oil infomercial salesman. Then I realized that he's actually taken really seriously by a lot of people that I respect (you're not one of those). It was kind of strange.
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