New To Investing Thread

[Brock Landers]

Why hire a management company when the going rate for a property manager is only $28 per month?

That's a reference, but I can't quite remember what to

Forgot to go back and look, but here it is   

I've heard property managers typically work at 1% of rent collected.  Let's be conservative again and say 2% = $28/month.

[catastrophe]

That, it turns out, was bad information.

[steve dave]

Did I predict the coronavirus?  NO

Did I predict the market crash?  YES

FYI the SP 500 is still higher than it was on Jan 31st.

need an update here 

[IPA4Me]

Pushed a farm into the market yesterday. Buy the dip, yo.

[chum1]

Good idea on the farm. I think I may need to do that.

[catastrophe]

Did the IRA rollover yesterday. I’m going to be v upset if you guys were holding out good advice about that.

[bucket]

Pushed a farm into the market yesterday. Buy the dip, yo.

Did this and I'm taking a bath today.

[IPA4Me]

Will push more and more.

I rolled a 401K late last year. Been feeding it slowly into the market expecting a dip.

[ben ji]

Did I predict the coronavirus?  NO

Did I predict the market crash?  YES

FYI the SP 500 is still higher than it was on Jan 31st.

need an update here 

PANIC!!! (And then realize the SP 500 will likely be much higher than 3200 when I retire so whatever)

[michigancat]

I'm thinking about hiring a financial advisor. Fee based fiduciary. Should I?

We've pretty much maxed out our annual retirement investments and just paid off big student loans and aren't sure if it would be a good idea to try to save for a down payment on a stupid million dollar house in the Bay or do something else with the excess. Or should I just make myself spend the time to figure it out myself

we ended up hiring a guy. I'm sure I could have done it all myself but it would have taken a lot of time I don't have or want to use scouring nerdwallet or whatever. I IRL compared it in my head to steve dave paying people to mow his lawn and shovel snow and hang up christmas lights and stuff so he can use that time elsewhere. we get good advice here but I'm not gonna post my pay stubs and talk about real in depth life details to get advice catered to my specific situation here. also candidly my wife doesn't like me telling her what to do so it's nice to have someone else tell both of us what to do at the same time.

[steve dave]

I'm thinking about hiring a financial advisor. Fee based fiduciary. Should I?

We've pretty much maxed out our annual retirement investments and just paid off big student loans and aren't sure if it would be a good idea to try to save for a down payment on a stupid million dollar house in the Bay or do something else with the excess. Or should I just make myself spend the time to figure it out myself

we ended up hiring a guy. I'm sure I could have done it all myself but it would have taken a lot of time I don't have or want to use scouring nerdwallet or whatever. I IRL compared it in my head to steve dave paying people to mow his lawn and shovel snow and hang up christmas lights and stuff so he can use that time elsewhere. we get good advice here but I'm not gonna post my pay stubs and talk about real in depth life details to get advice catered to my specific situation here. also candidly my wife doesn't like me telling her what to do so it's nice to have someone else tell both of us what to do at the same time.

ask your guy how much I should charge you for rent IN YOUR BRAIN. LMAOooooooooooo.

irl probably a good decision. I enjoy thinking and doing that stuff and other people enjoy mowing their lawns. time is the most valuable asset we have.

[ben ji]

I'm thinking about hiring a financial advisor. Fee based fiduciary. Should I?

We've pretty much maxed out our annual retirement investments and just paid off big student loans and aren't sure if it would be a good idea to try to save for a down payment on a stupid million dollar house in the Bay or do something else with the excess. Or should I just make myself spend the time to figure it out myself

we ended up hiring a guy. I'm sure I could have done it all myself but it would have taken a lot of time I don't have or want to use scouring nerdwallet or whatever. I IRL compared it in my head to steve dave paying people to mow his lawn and shovel snow and hang up christmas lights and stuff so he can use that time elsewhere. we get good advice here but I'm not gonna post my pay stubs and talk about real in depth life details to get advice catered to my specific situation here. also candidly my wife doesn't like me telling her what to do so it's nice to have someone else tell both of us what to do at the same time.

Sometimes its good to hire a guy. For example...the first year after my dad got the cat ranch he did his own taxes and couldn't figure out why he had such a high tax bill.

The next year he hired a guy who specializes in cat ranch/farm taxes and BOOM, barely owed any money on taxes.

[michigancat]

I'm thinking about hiring a financial advisor. Fee based fiduciary. Should I?

We've pretty much maxed out our annual retirement investments and just paid off big student loans and aren't sure if it would be a good idea to try to save for a down payment on a stupid million dollar house in the Bay or do something else with the excess. Or should I just make myself spend the time to figure it out myself

we ended up hiring a guy. I'm sure I could have done it all myself but it would have taken a lot of time I don't have or want to use scouring nerdwallet or whatever. I IRL compared it in my head to steve dave paying people to mow his lawn and shovel snow and hang up christmas lights and stuff so he can use that time elsewhere. we get good advice here but I'm not gonna post my pay stubs and talk about real in depth life details to get advice catered to my specific situation here. also candidly my wife doesn't like me telling her what to do so it's nice to have someone else tell both of us what to do at the same time.

Sometimes its good to hire a guy. For example...the first year after my dad got the cat ranch he did his own taxes and couldn't figure out why he had such a high tax bill.

The next year he hired a guy who specializes in cat ranch/farm taxes and BOOM, barely owed any money on taxes.

Your dad and I have a lot in common

[sys]

candidly my wife doesn't like me telling her what to do so it's nice to have someone else tell both of us what to do at the same time.

i'm pretty fortunate that i could lose half our retirement savings in the market and my wife would never notice.  pretty sure it affects my investment style (although not necessarily for the better).

[steve dave]

candidly my wife doesn't like me telling her what to do so it's nice to have someone else tell both of us what to do at the same time.

i'm pretty fortunate that i could lose half our retirement savings in the market and my wife would never notice.  pretty sure it affects my investment style (although not necessarily for the better).

Same, my wife has no idea how much money we have, spend, make, etc. Also no real concept of what things cost. It’s like those times where they make Bill Gates guess how much a banana costs. She buys things constantly but doesn’t pay attention to how much anything is. Like, a new pair of shoes could be $30 or $300 and she would have no clue which if I gave her the multiple choice. It makes life much easier imo. I’m equally ignorant with a lot of the stuff she takes care of.


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[chum1]

My wife likes to see a big, huge balance in the checking account. Lol. It goes up and down a LOT, though, so I don't sweat it too much. AND I did manage to convince her to buy a bunch of stock on Friday with all of that cash.

[catastrophe]

100% in the same boat as sys. Wife has no interest and really doesn’t even want to hear about it except to make sure we still have money and to let her know when we can retire. But she also hates shopping and spending a lot on expensive things so I’m basically trying to say I’m the luckiest guy in the world for this sort of thing.

[WillieWatanabe]

candidly my wife doesn't like me telling her what to do so it's nice to have someone else tell both of us what to do at the same time.

i'm pretty fortunate that i could lose half our retirement savings in the market and my wife would never notice.  pretty sure it affects my investment style (although not necessarily for the better).

Same, my wife has no idea how much money we have, spend, make, etc. Also no real concept of what things cost. It’s like those times where they make Bill Gates guess how much a banana costs. She buys things constantly but doesn’t pay attention to how much anything is. Like, a new pair of shoes could be $30 or $300 and she would have no clue which if I gave her the multiple choice. It makes life much easier imo. I’m equally ignorant with a lot of the stuff she takes care of.


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I'm curious to know that this stuff is

[K-S-U-Wildcats!]

It's extremely rare to beat the market consistently, so why not just chuck your money into some low cost index funds just keep plugging away? I've never seen th wisdom in paying some dude 3% of my holdings every year when he's probably not going to beat the market by enough to earn his keep.

I'm still young enough to invest aggressivley and ride the rollercoaster. Now in another 10-15 years I'll hire somebody to help me start structuring my assets for eventual retirement, but I'm going to look for somebody who just sells his/her time instead of earning their money on percentage fees or commissions. I just don't trust those people. It's a conflict of interest no matter how you slice it.

[Dugout DickStone]

candidly my wife doesn't like me telling her what to do so it's nice to have someone else tell both of us what to do at the same time.

i'm pretty fortunate that i could lose half our retirement savings in the market and my wife would never notice.  pretty sure it affects my investment style (although not necessarily for the better).

Same, my wife has no idea how much money we have, spend, make, etc. Also no real concept of what things cost. It’s like those times where they make Bill Gates guess how much a banana costs. She buys things constantly but doesn’t pay attention to how much anything is. Like, a new pair of shoes could be $30 or $300 and she would have no clue which if I gave her the multiple choice. It makes life much easier imo. I’m equally ignorant with a lot of the stuff she takes care of.


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mine didn't even know where we banked or how to check balances, deposits etc.

[BIG APPLE CAT]

It's extremely rare to beat the market consistently, so why not just chuck your money into some low cost index funds just keep plugging away? I've never seen th wisdom in paying some dude 3% of my holdings every year when he's probably not going to beat the market by enough to earn his keep.

I'm still young enough to invest aggressivley and ride the rollercoaster. Now in another 10-15 years I'll hire somebody to help me start structuring my assets for eventual retirement, but I'm going to look for somebody who just sells his/her time instead of earning their money on percentage fees or commissions. I just don't trust those people. It's a conflict of interest no matter how you slice it.

isn't that the whole point of your financial advisor being a fiduciary though? like, they are obligated to act in your best interest regardless of whether or not it is in their best interest so it kind of removes the whole conflict of interest thing? Idk maybe that's oversimplifying it.

[steve dave]

candidly my wife doesn't like me telling her what to do so it's nice to have someone else tell both of us what to do at the same time.

i'm pretty fortunate that i could lose half our retirement savings in the market and my wife would never notice.  pretty sure it affects my investment style (although not necessarily for the better).

Same, my wife has no idea how much money we have, spend, make, etc. Also no real concept of what things cost. It’s like those times where they make Bill Gates guess how much a banana costs. She buys things constantly but doesn’t pay attention to how much anything is. Like, a new pair of shoes could be $30 or $300 and she would have no clue which if I gave her the multiple choice. It makes life much easier imo. I’m equally ignorant with a lot of the stuff she takes care of.


Sent from my iPhone using Tapatalk

I'm curious to know that this stuff is

Children daycare calendars, 1st grade school calendar, sport lesson/practice schedule and potential conflicts, all schedules other than my personal work schedule, birthdays of even my immediate family, medical info and pediatrician info, how much drugs to give a kid that may be dying or may be faking, when/where we need to sign up for X for the kids, what school thing is the best, it goes on.


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[michigancat]

It's extremely rare to beat the market consistently, so why not just chuck your money into some low cost index funds just keep plugging away? I've never seen th wisdom in paying some dude 3% of my holdings every year when he's probably not going to beat the market by enough to earn his keep.

I'm still young enough to invest aggressivley and ride the rollercoaster. Now in another 10-15 years I'll hire somebody to help me start structuring my assets for eventual retirement, but I'm going to look for somebody who just sells his/her time instead of earning their money on percentage fees or commissions. I just don't trust those people. It's a conflict of interest no matter how you slice it.

isn't that the whole point of your financial advisor being a fiduciary though? like, they are obligated to act in your best interest regardless of whether or not it is in their best interest so it kind of removes the whole conflict of interest thing? Idk maybe that's oversimplifying it.

Yeah I hired a fiduciary. For me it's about optimizing the array of 529's and backdoor Roth's and how aggressively to pay down loans and building funds for a down payment vs. investing that money, etc. I'd expect most of my money to stay in index funds with a possible slight reallocation.

[K-S-U-Wildcats!]

I’m skeptical of the whole “fiduciary” thing. It’s basically meaningless. And just like with realtors, a 3% commission is meaningful to me because I’m paying, but it really provides minimal to no incentive to them to actually work all that hard protecting my money. There’s no real magic to what these guys are doing. Except when you ask them to demonstrate how their results will out-perform the market. Then the magic begins.

[michigancat]

I’m skeptical of the whole “fiduciary” thing. It’s basically meaningless. And just like with realtors, a 3% commission is meaningful to me because I’m paying, but it really provides minimal to no incentive to them to actually work all that hard protecting my money. There’s no real magic to what these guys are doing. Except when you ask them to demonstrate how their results will out-perform the market. Then the magic begins.

I should have clarified that I hired one that is fee based