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re: What’s the smartest financial decision you’ve ever made?
Posted on 8/5/26 at 8:04 am to Tiger Attorney
Posted on 8/5/26 at 8:04 am to Tiger Attorney
quote:
Invest long term in VOO and little less so in QQQ...
Or invest in the exact same duplicate fund from Fidelity with 0% expense ratio
That shite adds up over 30 years
0
Posted on 8/5/26 at 8:05 am to WillFerrellisking
quote:
Marrying my wife
This for me.
I didn’t know it at the time.
Then her father got dementia and she had to take over the finances.
She’s like a Wall Street princess or something. Who knew?
Posted on 8/5/26 at 8:08 am to FlyingTigerBo
Giving up booze.
But the best financial event in my life wasn’t voluntary. It was hurricane Katrina.
Posted on 8/5/26 at 8:11 am to FlyingTigerBo
Marrying a woman that makes really good money.
Posted on 8/5/26 at 8:14 am to FlyingTigerBo
Invest in stock market @ 22
Posted on 8/5/26 at 8:17 am to FlyingTigerBo
Refinancing our "forever home" in January of 2021
2.5% for the next 23 years is going to be nice
2.5% for the next 23 years is going to be nice
Posted on 8/5/26 at 8:20 am to Rize
quote:
I will say the money board has helped me a ton. Up until 2.5 or 3 years ago I was the guy that didn’t have a HYSA and would let a good chunk of change sit in my checking earning nothing. Learned about back dooring a Roth from money board also and started that around 10 years ago but should have done it 15 years ago.
Agreed.
They used to do an annual competition of picking stocks for the coming year. I would enter every stock pick into a spreadsheet to identify which ones were the most frequently selected. I then invested in those stocks. They always gave me strong returns.
Posted on 8/5/26 at 8:23 am to FlyingTigerBo
quote:getting off of dope
What’s the smartest financial decision you’ve ever made?
Posted on 8/5/26 at 8:25 am to FlyingTigerBo
Get out of debt completely. I have a great job, but if something were to happen, not the end of the world. Some people here knock Dave Ramsey, but it’s good, solid advice. Changed my life.
Posted on 8/5/26 at 8:28 am to FlyingTigerBo
Put my wedding off for a year to buy a house in 2019
Posted on 8/5/26 at 8:28 am to WillFerrellisking
quote:
Marrying my wife
I am going with this one. Mine graduated top of her class in college and started a multi-million dollar company.
Posted on 8/5/26 at 8:30 am to FlyingTigerBo
quote:
Investing since I was 26 - compound interest is the eight wonder
What kind of investments?
Posted on 8/5/26 at 8:32 am to FlyingTigerBo
Getting a degree in engineering
Posted on 8/5/26 at 8:39 am to FlyingTigerBo
quote:
Investing since I was 26 - compound interest is the eight wonder
This! This! And This!
Started at 24. Goal was $ making more $ in early 40’s than I was.
Chit works. In fact if you start early, you might be able to end early (retire or stop investing as too much creates problem (eg, RMDs)).
And only debt was home (and cars early but paying cash soonest was goal). Dave Ramsey is good advice in general but if one cannot handle low interest mortgages and using them to compound your own money, that can cost you way more than any peace of mind of having big illiquid asset (paid off home) will deliver.
While low interest mortgages in the 2’s won’t ever exist again, same investing philosophy up to 4s & 5s (and possibly 6s) in long run.
This post was edited on 8/5/26 at 8:42 am
Posted on 8/5/26 at 8:41 am to FlyingTigerBo
Married the right person and bought our retirement home ( a camp on the water), paid it off in 5 years and retired early. Life has been so good since we made that leap.
No mortgage, no car note, no debt.
No mortgage, no car note, no debt.
Posted on 8/5/26 at 8:43 am to Willie Stroker
quote:
quote:
And should mention, tithing/giving as a follower of Jesus.
Can you elaborate as to the financial benefits?
It reminds me that none of this is my own. Having more stuff and a higher bank balance isn't worth the costs.
Posted on 8/5/26 at 8:45 am to GeauxPanthers2
quote:
What kind of investments?
My 2 cents:
Accumulation phase of life should be early, regular and simple.
VOO, VTSAX (low cost index funds).
That’s it. Let time and human greed take it from there. Your future wealthy self will thank you. I promise.
Posted on 8/5/26 at 8:49 am to ScubaTiger
Buying my first house in 1982 at age 22..
Posted on 8/5/26 at 8:52 am to LSUneaux
quote:
Love all this. It’s criminal that they don’t teach basic finance and compound interest in high school.
Teaching personal finance is a basic life skill. Basic life skills should be taught by parents and family.
Compound interest is taught in school. I learned it in Algebra 1
Posted on 8/5/26 at 8:54 am to FlyingTigerBo
Taking a piece of my first retirement upfront and paying off my house and car. 6months later , COVID hit and prices skyrocketed and never came back down. I get offers to buy my house literally every week. There’s no way in hell Id sell and have a new house payment in this market.
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