Anyone investing heavily this year??

[Helico-pterFunk]

The part that kills me is this:

"If you’re contributing in 2023 for the first time, you’re eligible to deposit $88,000 in total contributions, provided you’ve been over 18 years of age since 2009 and have a valid social insurance number."

Man, This right here has me about to write my Senator, Lol. If the IRA had something for unused contributions, that shit would be a game changer.

Agreed. The unused contributions are a big deal for many people. Think about your best years work-wise ... compared back to when times were tough / lean. Back then you were unable to make healthy contributions on an annual basis, because you were saving for other stuff (downpayment on a home or big mortgage payments), paying down debt or student loans, and / or trying to accumulate wealth while working really hard (for less pay).

You have to be in that comfortable place when making money decisions.

 

[Madrox]

Money Mastery & Building Wealth [Week 26, June 2023]

Are You Saving Enough for Retirement? How Much Should You Spend on a Car? How to Dispute Errors on Your Credit Report! 4 Common Financial Mistakes! 5 Passive Income Ideas! Book of the Week! And More

www.thefinancenewsletter.com

 

[Helico-pterFunk]

General questions re: finances ...




1) Aside from credit & debit cards ... how much cash do you typically carry on you in your wallet, or have stashed away at home?


2) Also, how much do you keep readily accessible (emergency funds) in savings or checking acct(s)?



I usually try to have $100 - 200 in the wallet, and $30 - 50K in emergency funds.

 

[HellBoy]

Any predictions on what (if any) fallout will the market see based on the Russian drama this weekend?

 

[HellBoy]

General questions re: finances ...




1) Aside from credit & debit cards ... how much cash do you typically carry on you in your wallet, or have stashed away at home?


2) Also, how much do you keep readily accessible (emergency funds) in savings or checking acct(s)?



I usually try to have $100 - 200 in the wallet, and $30 - 50K in emergency funds.

1. $0
2. We keep 6 months of emergency funds in a HYSA.

 

[DC_Dude]

General questions re: finances ...




1) Aside from credit & debit cards ... how much cash do you typically carry on you in your wallet, or have stashed away at home?


2) Also, how much do you keep readily accessible (emergency funds) in savings or checking acct(s)?



I usually try to have $100 - 200 in the wallet, and $30 - 50K in emergency funds.

1. $140 in my wallett and about $2K stashed in the house (after experiencing snowmaggedon in 2010, I will always keep cash stashed in the crib).

2. 6 months worth of cash in a HYSA

 

[Helico-pterFunk]

1. $0
2. We keep 6 months of emergency funds in a HYSA.

Good stuff re: HYSA.


Regarding cash in wallet ... I didn't carry any money for a number of years. Got back into the habit of it with card readers being down (tech issues) at mechanic, grocery stores, restaurants.

 

[Helico-pterFunk]

1. $140 in my wallett and about $2K stashed in the house (after experiencing snowmaggedon in 2010, I will always keep cash stashed in the crib).

2. 6 months worth of cash in a HYSA

Nice. Good to have the cash stashed in house.


Funny side note ... my grandma had alot of clothes. Many of them stuffed into the closet in her small room. Prior to her passing in 2008, she told her kids (my dad and aunt) to CAREFULLY go through her clothes and not throw anything out. She had all types of shit stashed, haha. Money, rings, necklaces, etc. Told them to keep all that cash ... and do whatever they want with the jewels. Keep them - give them to her dear friends as keepsakes. But whatever they did ... don't donate anything to Goodwill or Value Village (jackets and sweater coats with pockets) WITHOUT first going through all the pockets.

 

[DC_Dude]

Money Mastery & Building Wealth [Week 26, June 2023]

Are You Saving Enough for Retirement? How Much Should You Spend on a Car? How to Dispute Errors on Your Credit Report! 4 Common Financial Mistakes! 5 Passive Income Ideas! Book of the Week! And More

www.thefinancenewsletter.com

Money Mastery & Building Wealth [Week 26, June 2023]

Are You Saving Enough for Retirement? How Much Should You Spend on a Car? How to Dispute Errors on Your Credit Report! 4 Common Financial Mistakes! 5 Passive Income Ideas! Book of the Week! And More

www.thefinancenewsletter.com

I always wonder where this data is being pulled from. Everyone I know in my circle has a 401K. Those numbers can not be accurate ( i know vanguard is the GOAT and I Shouldn't dispute those numbers, but man I am well over 250K in my 401K and I am in my early 40s).
@Madrox - i know you can relate, but I beat myself up everyday when I think where I would be if I wasn't paying my student loans in my 30s....(avg. about $1100 a month I would have an additional 300 - 500 K)....

 

[Madrox]

Money Mastery & Building Wealth [Week 26, June 2023]

Are You Saving Enough for Retirement? How Much Should You Spend on a Car? How to Dispute Errors on Your Credit Report! 4 Common Financial Mistakes! 5 Passive Income Ideas! Book of the Week! And More

www.thefinancenewsletter.com

I always wonder where this data is being pulled from. Everyone I know in my circle has a 401K. Those numbers can not be accurate ( i know vanguard is the GOAT and I Shouldn't dispute those numbers, but man I am well over 250K in my 401K and I am in my early 40s).
@Madrox - i know you can relate, but I beat myself up everyday when I think where I would be if I wasn't paying my student loans in my 30s....(avg. about $1100 a month I would have an additional 300 - 500 K)....

I think the numbers could be pretty accurate... A lot of folks may not contribute all that much to their 401k or don't fully understand the impact.

I know personally I was late to realizing this as well, so while I'm above average for my age group at the moment (44), it's not by a huge amount. I'm also wondering if lack of investing savvy may have these folks in some funds that stifled their growth?

 

[Madrox]

General questions re: finances ...




1) Aside from credit & debit cards ... how much cash do you typically carry on you in your wallet, or have stashed away at home?


2) Also, how much do you keep readily accessible (emergency funds) in savings or checking acct(s)?



I usually try to have $100 - 200 in the wallet, and $30 - 50K in emergency funds.

I take $40 cash out when I get paid..
I'm at 5 months in Emergency Savings atm (Capital One Performance Savings)

 

[DC_Dude]

I think the numbers could be pretty accurate... A lot of folks may not contribute all that much to their 401k or don't fully understand the impact.

I know personally I was late to realizing this as well, so while I'm above average for my age group at the moment (44), it's not by a huge amount. I'm also wondering if lack of investing savvy may have these folks in some funds that stifled their growth?

I still wonder if Vanguard is using their data only or if they taking data from all 401K providers. I believe Fidelity is the largest ( i could be wrong), but I just find these numbers interesting....

 

[Helico-pterFunk]

I take $40 cash out when I get paid..
I'm at 5 months in Emergency Savings atm (Capital One Performance Savings)

Nice. Got a friend who does a similar amount, and takes out $75 per pay period to go towards RRSP (retirement).

 

[Aww Skeet Skeet!]

General questions re: finances ...




1) Aside from credit & debit cards ... how much cash do you typically carry on you in your wallet, or have stashed away at home?


2) Also, how much do you keep readily accessible (emergency funds) in savings or checking acct(s)?



I usually try to have $100 - 200 in the wallet, and $30 - 50K in emergency funds.

1) $20...Never know when I may need it.
2) 6 months worth of expenses. Everything else is invested. Some more liquid than others.

 

[Helico-pterFunk]

1) $20...Never know when I may need it.
2) 6 months worth of expenses. Everything else is invested. Some more liquid than others.

Good stuff.

Question ... what about major expenses past the 6-month mark? Put it on credit card(s) and pay it down over time (?)

 

[Madrox]

I follow this dudes channel to see his updates on his dividend investing portfolio, but this vid is a little off topic as he goes in on the different levels of F.I.R.E. Even though I don't PLAN on retiring early, I have some of the strategies baked in based on my own situation and portfolio construction and philosophy. Turns out, the Barista F.I.R.E option he mentions at around 13:45 is a direction I can see myself heading..:



..anyone thinking about these options?

 

[Aww Skeet Skeet!]

Good stuff.

Question ... what about major expenses past the 6-month mark? Put it on credit card(s) and pay it down over time (?)

If it's a major expense, credit card (cash back/points/etc.), but pay it off before being charged interest. That usually gives me some time to get the funds out of the market and transfer to the checking account. Unless....

It's an expense that's going to take a few months. Then, I put it on my lowest interest rate card and pay it off aggressively. I budget religiously, so I know when to splurge a bit and when to tighten the belt. Most of the time I only put necessities on the card anyway for the cash back (food, gas, certain bills that give a higher percent cash back). I hope I don't run into anything that will break the bank, but you never know.

 

[Helico-pterFunk]

If it's a major expense, credit card (cash back/points/etc.), but pay it off before being charged interest. That usually gives me some time to get the funds out of the market and transfer to the checking account. Unless....

It's an expense that's going to take a few months. Then, I put it on my lowest interest rate card and pay it off aggressively. I budget religiously, so I know when to splurge a bit and when to tighten the belt. Most of the time I only put necessities on the card anyway for the cash back (food, gas, certain bills that give a higher percent cash back). I hope I don't run into anything that will break the bank, but you never know.

Good stuff.

Exactly re: the cash back or points. Do the same over here with the larger, regular purchases like groceries, gas, certain bills. They get paid off immediately & points gathered (goes towards free groceries). Been getting into the habit of doing one of the "bonus redemption events" here. So for example when you have 10,000 points = $10 free groceries. This one place has this promo they do a handful of times a year wherein if you redeem $200 in points (200k) - they'll give you an extra $100 off at the bill and make it 300. So been doing that. Overall the points program has saved thousands on grocery bills over the years (usually wait until November or December). Helpful for sure.

I know what you mean re: hoping not to run into something that breaks the bank.

My dad's gf had a major carport flood that fucked over her basement back in December 2019 (major rainstorm). In turn she put immediate expenses on her CC, and had insurance, etc. The credit card company automatically bumped her up to an elite card member status (without any fee) giving her 3x the points back. She said that was a nice surprise amongst a miserable experience. Free groceries faster while earning future points. She jokingly said to me - "They probably think I'm some high roller or something. Putting big expenses on my CC. I'm a retired mid-70s lady who works PT a few days a week for my nephew's company. That was a 1-time thing putting huge expenses on my CC. That is NOT me!"

 

[HellBoy]

I use my CC to pay for EVERYTHING to get the points and pay if off monthly. No reason to use a debit card ever unless Im getting cash for something. If I have a big bill, like when we replaced our HVAC, I call one of my CC companies and tell them Im about to make a big purchase. I ask for a 0% interest rate for 6 months and they always do it. Discover is good for that. Then I have 6 months to pay if off, no interest and I get the cash back.

 

[DC_Dude]

I follow this dudes channel to see his updates on his dividend investing portfolio, but this vid is a little off topic as he goes in on the different levels of F.I.R.E. Even though I don't PLAN on retiring early, I have some of the strategies baked in based on my own situation and portfolio construction and philosophy. Turns out, the Barista F.I.R.E option he mentions at around 13:45 is a direction I can see myself heading..:



..anyone thinking about these options?

I think for me I am doing a little bit of all 4....

I can see my self leaning towards Barista in about 7 -10 years, but I actually enjoy my current job....

Coast Fire is interesting as well....Fat Fire too....

 

[DC_Dude]

I use my CC to pay for EVERYTHING to get the points and pay if off monthly. No reason to use a debit card ever unless Im getting cash for something. If I have a big bill, like when we replaced our HVAC, I call one of my CC companies and tell them Im about to make a big purchase. I ask for a 0% interest rate for 6 months and they always do it. Discover is good for that. Then I have 6 months to pay if off, no interest and I get the cash back.

Yeah I love the cash back points....

I am always looking for additional ways to get more money....

Some might call this extreme but 2 other ways I like to get money back

1. Rakutan - i try to buy everything online that has a partnership with them....You get a certain percentage back from stores...Even if I just have it delivered or pick it up at the store.

2. Receipt apps - some of these apps will pay you take pics of your receipts or connect your email to get those online receipts....This is very tedious and most people don't do it, but I usually can make about an extra $100 -$200 a year just from gift cards...I always do the visa or mastercard because I can use those to pay most bills....

 

[Helico-pterFunk]

I use my CC to pay for EVERYTHING to get the points and pay if off monthly. No reason to use a debit card ever unless Im getting cash for something. If I have a big bill, like when we replaced our HVAC, I call one of my CC companies and tell them Im about to make a big purchase. I ask for a 0% interest rate for 6 months and they always do it. Discover is good for that. Then I have 6 months to pay if off, no interest and I get the cash back.

Nice - well played re: the 0% interest rate.

 

[Madrox]

I use my CC to pay for EVERYTHING to get the points and pay if off monthly. No reason to use a debit card ever unless Im getting cash for something. If I have a big bill, like when we replaced our HVAC, I call one of my CC companies and tell them Im about to make a big purchase. I ask for a 0% interest rate for 6 months and they always do it. Discover is good for that. Then I have 6 months to pay if off, no interest and I get the cash back.

Same. I use that CSR to get all the travel points I possibly can. I haven't used my debit card in eons.

Good advice re: the way you handle big purchases. I never considered reaching out to them and getting ahead of things in that way..

 

[Madrox]

..decent insight and gives some historical numbers vs. current climate.

 

[Madrox]

Investing Insights, Market Analysis & Economic Outlook [Week 26, June 2023]

Short Sellers Are Betting Big Against U.S. Stocks! BlackRock Enters Crypto!, The Housing Market Is a Nightmare!, Is India the Next China?, and Much More!

www.thefinancenewsletter.com

 

[DC_Dude]

 

[HellBoy]

Thats good for Polestar.

 

[HellBoy]

I finally reached my $RKLB share target.
Next up is dividend stock and EtF building.

Dividends that I am considering: KO, PEP, T
EtFs: VOO and SCHD

 

[Madrox]

I finally reached my $RKLB share target.
Next up is dividend stock and EtF building.

Dividends that I am considering: KO, PEP, T
EtFs: VOO and SCHD

I think as long as RKLB stays under a certain level I'll just keep buying a few shares each month. It's the only spec I'm accumulating in my Roth:

VTI
VXUS
INTC (some would say this is a spec., but I'm steadfast )
CVS
NIO (spec., but no longer accumulating just holding what I have)
RKLB

.. the first 4 pay some kinda divvy so I'm good with those atm and re-invest them. IF I ever swap em out, I'm thinking it would have to be for another decent dividend payer.

 

[Madrox]

I finally reached my $RKLB share target.
Next up is dividend stock and EtF building.

Dividends that I am considering: KO, PEP, T
EtFs: VOO and SCHD

..are you looking to match VOO with SCHD or choosing one or the other?

 

[HellBoy]

I think as long as RKLB stays under a certain level I'll just keep buying a few shares each month. It's the only spec I'm accumulating in my Roth:

VTI
VXUS
INTC (some would say this is a spec., but I'm steadfast )
CVS
NIO (spec., but no longer accumulating just holding what I have)
RKLB

.. the first 4 pay some kinda divvy so I'm good with those atm and re-invest them. IF I ever swap em out, I'm thinking it would have to be for another decent dividend payer.

AAPL, MSFT are my consistent adds rain or shine. Now Im looking at the dividend stocks as just a safe hold for money that can compound over time vs it being a growth stock. It does take big balance in order for it to get a noticeable payout though. Thats the shit I dont like.

The cash dividend Berkshire received from Coke in 1994 was $75 million. Last year, the Coke dividend paid to Berkshire was $704 million. Buffett mentioned the following on Coke's dividend growth: “Growth occurred every year, just as certain as birthdays.

 

[Madrox]

AAPL, MSFT are my consistent adds rain or shine. Now Im looking at the dividend stocks as just a safe hold for money that can compound over time vs it being a growth stock. It does take big balance in order for it to get a noticeable payout though. Thats the shit I dont like.

Yea the numbers on some of Buffet/ Berkshire's dividend portfolio holdings are crazy. I know they get a huge payout from AAPL too.

I can't front: I be amped when I get my little dividends from my Vanguard ETFs, CVS, INTC, and WMT. I can definitely see the power from a compounding perspective combined with the safety of parking your money in a company that will pay you each quarter. The key is finding those that won't lose you money even though there may no longer be a gang of grown as far as the share price.

 

[HellBoy]

..are you looking to match VOO with SCHD or choosing one or the other?

The price of VOO is daunting, so I may just end up going with SCHD to have more shares.

SCHD - 11% annual return
VOO - 16.5 annual return

Yea the numbers on some of Buffet/ Berkshire's dividend portfolio holdings are crazy. I know they get a huge payout from AAPL too.

I can't front: I be amped when I get my little dividends from my Vanguard ETFs, CVS, INTC, and WMT. I can definitely see the power from a compounding perspective combined with the safety of parking your money in a company that will pay you each quarter. The key is finding those that won't lose you money even though there may no longer be a gang of grown as far as the share price.

Yea, thats why I stay away from REITs.

 

[Madrox]

The price of VOO is daunting, so I may just end up going with SCHD to have more shares.

SCHD - 11% annual return
VOO - 16.5 annual return

Right on. As a wealth accumulator I feel the same way. I'm still building my shit out, so I'm all about owning as many shares as I can as assets, even though you can get the same or more growth from appreciation as long as the company/fund is doing well (regardless of price per share, since fractional shares are widely available now).

Strictly speaking dividends, SCHD seems like a good look since you can accumulate more shares quicker. The holdings are a lot smaller than VOO, but you may decide that the 100 or so companies + your individual companies are enough diversification for you (if that's a consideration).

 

[babydaddy]

I finally reached my $RKLB share target.
Next up is dividend stock and EtF building.

Dividends that I am considering: KO, PEP, T
EtFs: VOO and SCHD

im in Att right now, i just add every month to it. gonna steady be in the range of 14 to 20 dollars