re: Do you have financial goals, plan, or philosophy?

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Gonna be worse when guys like me snap up all the sugar babies that can't provide for themselves. I'll try and stick to the age/2+7 rule.

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Just hit the 2 year mark on seeking. Destroying the young ones is my favorite sport.

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Look up Roth conversion ladder if you want to access retirement money before 59 1/2. With a Roth conversion ladder you can access Roth contributions 5 years after converting to a Roth at any age. That’s how people in their 30s or 40s that retire early access retirement funds penalty free.

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+1 This is why I think traditional 401k is better than Roth 401k especially if you are planning an early retirement. If you don't have any other income, Roth conversions allow you to choose your income for the year.
A couple filing MFJ, could do a Roth conversion of up to 106k (std deduction) and only pay 12% marginal tax. If you are doing a Roth 401k and making good income you are locking in a 22%, 24% or higher tax rate.

Also, another way to access IRA money early is Rule 72(t).

https://www.investopedia.com/terms/r/rule72t.asp
https://www.thebalance.com/how-to-use-72-t-payments-for-early-ira-withdrawals-2388257

Most places I've read about using this that it's best to consult a CPA or someone well versed in the nuances. If you fail to follow the rules etc there are big penalties.

Thanks for extra info on this.. I looked into this a bit today, and will discuss with my CPA. This seems like a food way to help us get where we want to be faster.

Thanks again

Every now and again, run into financial "wisdom"!

People are focused on the return on their money

People should also be focused on the return of their money


Ex, people who are so focused on return of short term $ park money in high risk muni bonds, the ones that include small towns with small tax base to generate income on bonds.

Nice reminder that this is not a casino game!

Chapter 2 of The Intelligent Investor, Benjamin Graham...read it.

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But how much is "frick you" money exactly?

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My number is low here. About 60k a year in income from investments/pension and I could tell everyone to F off. My expenses are already low and the house will be paid off in 5 years.

You gotta have some humility to play the picker game because there are plenty of external factors outside your control. My picks may not always go up but I’m confident they will in the long term and I’ll try to get y’all out before shite hits the fan

I got a good one: blpgd

I called this one before it became a d ticker and bought 300k shares but I wish I got more then. I saw that this dude that was the ceo of hypur, a weed payment processor was doing a little hype on them and then I did some digging and found out he owned both companies lol and figured it was ripe for a merger. The merger is in process now

Blue line protection group (blpgd) is an armored truck company and they do audits and security consulting and stuff like that too. Think baby brinks. Hypur is a payments processor that specializes in weed stores. They’re based in Arizona and they have 500 stores using them in the southwest

Weed stores can’t use traditional methods of payment because weed is federally illegal. They have to handle large sums of cash and they can’t really put it in a bank without raising eyebrows. Of course the irs still takes money from them but it’s a lot of tricky stuff in between. This pile of cash makes weed stores a favorite target for stick ups

Hypur is a payment processor that allows you to use a card at a weed store if the weed store does business with them. I assume they figured out the loopholes because they have 500 stores using them. They don’t have a stock

Blpg was a penny stock armored truck company and then they started the merger process. No one has publicly stated that they’re gonna come out the other end as hypur and roll the armored trucks, security, and auditing in with the payment processing but considering the ceo owns both it seems pretty obvious to me

Blpgd is one I accumulate when it moves toward a dollar. Someone else is accumulating too as there is usually less than 100k volume but sometimes it’ll suddenly do a +20% and then go stagnant for a few days

The real meat here is that there is a good bit of talk of brinks doing a jv with them to hit the newer weed states on the east coast

ETA: I’m sure some of y’all are like not MY brinks! They wouldn’t help people sell the devils lettuce!!

Brinks is a monster company with a near monopoly on an industry that already declined and probably still declining. Gone are the days where every business handled piles of cash and checks had to be physically moved from bank to bank. This is their best chance at a new revenue stream if there ever was one

Federally legal is still like 10 years away don’t kid yallselves

ETA2: weed will always remain a largely cash business even if the opportunity for cards is there because you don’t want your mom or ole lady to know you’re buying cheeba

ETA3: the way to be successful as a picker is to do what everybody else isn’t doing and then get out when everybody does what you do

Retail loses money because they follow the herd off the cliff. Kill the retail boy inside of you and become the cynical market maker

Y’all keep being like oil going to 100 buy oil stocks like bruh Wall Street knew oil was going to 100 when they cheated Biden in. Priced in baw

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You’re turning into ancient tiger and you don’t even realize it

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who was he? was he like dabigfella?

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.that you follow when making your periodic financial decisions?

If so, please share (if you are ok to do so).

My broad financial objective coming out of grad school:

I want my money making more money than I do when I am 45yo.

Over time, we learned to compartmentalize our goals: Retirement (kinda always was), college funds, daughter's wedding (hope is that she is prudent and will use most of it, instead, for down payment of future home), etc.

Did not learn "philosophy" (even still learning this) until later when becoming a boglehead.org learner. But, I have to say, this is critically important, particularly when coming to cross-road decision or market implodes, etc. I would recommend.

Always interested in learning how others approach these things...thanks

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This hasnt been my "philosophy".
But i waa reviewing some of my spreadsheets with targets and i came to this realization...

11 years ago, my target was to put $8-$10k/yr in my 401k (company would match about $5k on top of that).
I had a career change that flipped the script so to speak just prior.
I had to recalibrate my bills to significantly less income.

11 years later, my bills are the roughly the same. And almost 80% of my new "extra" disposable income is going to investments as my pay has more than doubled.
Keeping my lifetstyle comfortable (stagnant) has pushed net worth from roughly $0 to over $700k.
And im young enough to see that hopefully double multiple times over before retirement.

You dont have to keep buying a larger home with every promotion.
You dont have to take on a car payment.
Vacations are vacations. They do not have to "top" your last one or your neighbors.