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Post by elmerfudd on Nov 25, 2021 1:11:39 GMT
yes, some of those mutual funds are bond funds. I don't know the specific holdings in each fund, bond or equity, just the description of nature of holdings. I am assuming the holdings change (part of managing funds) but the nature of the investments remain the same. I wish I could claim prescience in selecting the fund allocation many years ago, but I think I just got lucky. I did read about each fund, but not the prospecti. Nobody can read those things. And I looked at the history. And I thought long term. Still do, although I am getting closer to the age when it's not advisable to buy green bananas. Every time I thought I ought to look at the allocation/performance I always ended up leaving it alone. It's a deferred comp account with lots of choices of mutual funds.
some people think owning rental property is easy money. It's not. I've never been tempted, myself. I believe you mentioned you live in the SF area. I would imagine a home bought 24 years ago would have increased considerably in value. You could sell and buy an equally nice home someplace else and have a good bit of cash left over, but "someplace else" is the key phrase. I know a guy who says he sold what he considered a dump in San Diego, moved to Florida, bought a really nice house out of the proceeds and had some phat cash left over.
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Post by Odysseus on Nov 25, 2021 5:14:11 GMT
yes, some of those mutual funds are bond funds. I don't know the specific holdings in each fund, bond or equity, just the description of nature of holdings. I am assuming the holdings change (part of managing funds) but the nature of the investments remain the same. I wish I could claim prescience in selecting the fund allocation many years ago, but I think I just got lucky. I did read about each fund, but not the prospecti. Nobody can read those things. And I looked at the history. And I thought long term. Still do, although I am getting closer to the age when it's not advisable to buy green bananas. Every time I thought I ought to look at the allocation/performance I always ended up leaving it alone. It's a deferred comp account with lots of choices of mutual funds. some people think owning rental property is easy money. It's not. I've never been tempted, myself. I believe you mentioned you live in the SF area. I would imagine a home bought 24 years ago would have increased considerably in value. You could sell and buy an equally nice home someplace else and have a good bit of cash left over, but "someplace else" is the key phrase. I know a guy who says he sold what he considered a dump in San Diego, moved to Florida, bought a really nice house out of the proceeds and had some phat cash left over.
Well, let's just say this house I bought 24 years ago is now worth at least four times what I paid for it. I paid off the mortgage three years ago. It wasn't a lot each month but I just wanted to be done with it. I have thought of moving, but I've been to Florida and really don't want to move there. Plus I spent a lot of time and effort getting this place the way I like it. Of course for a 70 year old house there's always something, right?
As for mutual funds, in addition to the usual, I've gone with some so called target date funds, but with extended dates so they are more stocks than bonds. It does take some stress off the matter - let someone else pick and chose what stocks/bonds to run with.
I *almost* plopped 10 grand down on a company that makes chip related equipment that I had just read about. After placing the order, after hours, I cancelled, apparently in time to prevent the purchase. It may be a good buy but I'm cautious and want to watch the stock performance for a bit before committing even what nowadays is a paltry amount.
Anybody want to buy a pig in a poke?
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Post by elmerfudd on Nov 25, 2021 13:47:46 GMT
well, 10k wouldn't be paltry to me. I could afford to lose it, but it would hurt me to think I could have given it to some homeless shelter or some such and done some good with it rather than just flushing it down the toilet. and while losing it wouldn't affect my lifestyle, I am not THAT much of a risk taker.
It was only by divine intervention I avoided, at the last minute, becoming a partner in a tech start up around these parts. A general partner. Which is too much like a marriage relationship in terms of commitment when there are loans on the books, and they were happening rather quickly, and with three other partners, none of whom I knew very well. Nice guys, though. A still small voice told me I better not do it at this stage in life. So I didn't. I remained involved to help them get started, mostly pro bono, but have not been involved for a year. I hope it's going well, but don't know. I hope they become millionaires, but even if they do, I will still be glad I listened to that still small voice.
The time for risks like that is not when one is in his eighth decade on this side of the topsoil, IMO.
If that investment you considered was a IPO, it'd definitely be interesting to follow it. Without any identifying info (unless you don't mind sharing it), let me know how it did/does.
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Post by elmerfudd on Nov 26, 2021 2:00:36 GMT
Your comment about your house value made me think of the "rule of 72." That's a rule of thumb that says an investment will double over a time period that multiplied by the compound rate of interest equals 72. For example, a sum invested at 8% will double in 9 years. Or at 9% in 8 years. Your house value has doubled twice in 24 years, meaning once in the first 12, and 72 divided by 12 years equals 6%.
I did notice while pointing and clicking that bay area values have trended downward of late, but any investment that returns 6% compounded annually over 24 years is a pretty good investment. And you imply your estimate of current value is conservative. So it's probably done better than that.
But like you said, it's good news with an asterisk. It's an investment that, if sold, must be replaced with a similar investment or moving into a rent house. But there's lots of equity for a reverse mortgage should you ever need one, but based on what little I know I rather doubt that'll be necessary.
Speaking of which, reverse mortgages have their place, but having that as Plan A for retirement income is never a good idea, IMO. And I know people who have done that.
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Post by Odysseus on Nov 27, 2021 1:00:44 GMT
Your comment about your house value made me think of the "rule of 72." That's a rule of thumb that says an investment will double over a time period that multiplied by the compound rate of interest equals 72. For example, a sum invested at 8% will double in 9 years. Or at 9% in 8 years. Your house value has doubled twice in 24 years, meaning once in the first 12, and 72 divided by 12 years equals 6%. I did notice while pointing and clicking that bay area values have trended downward of late, but any investment that returns 6% compounded annually over 24 years is a pretty good investment. And you imply your estimate of current value is conservative. So it's probably done better than that. But like you said, it's good news with an asterisk. It's an investment that, if sold, must be replaced with a similar investment or moving into a rent house. But there's lots of equity for a reverse mortgage should you ever need one, but based on what little I know I rather doubt that'll be necessary. Speaking of which, reverse mortgages have their place, but having that as Plan A for retirement income is never a good idea, IMO. And I know people who have done that.
Yeah, I'm not thrilled with the idea of a reverse mortgage, either. Perhaps bettter to sell and move into a smaller dive instead. But I have no plans for that either. That noted con cuck Tom Selleck keeps hawking rm's should be warning enough.
What I've noticed so far today, is that while various stocks and stock funds have declined sharply, the bond funds tend to have maintined or increased in value. So there is that.
Still waiting for all the funds to settle before I calculate how much I lost in the past two days. Let's just say that cancelling the stock purchase was a good idea. Selling off some stable funds to provide a cash cushion, not so good. But, WTF, at least with cash you don't lose anything up front, LOL.
Oh, and this house is really 80 years old, not 70 as I stated previously.
Later.
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Post by elmerfudd on Dec 3, 2021 20:56:51 GMT
I zoom met with the very nice lady who heads up the tax aide program in my area today. It's a very good program. Well run and organized. There are limits to what one can have in a return through this program, but it accommodates more stuff than I thought. You don't have to be needy or old to use it. I am looking forward to participating.
But if you can afford to pay a competent professional to do your return, you should do so. And you can probably afford it. I know people who have said they can't, but when I look at what they spend money on, it's patently obvious they can. They're just scrooges when it comes to some things.
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Post by elmerfudd on Dec 16, 2021 14:26:56 GMT
apt cartoon Attachments:
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Post by Deleted on Dec 16, 2021 16:36:21 GMT
In my country, poor people are exempt from taxes. If you pay taxes it means you can afford them, there's no need to whine about it. It's unbecoming and selfish.
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Post by Odysseus on Dec 17, 2021 2:22:24 GMT
In my country, poor people are exempt from taxes. If you pay taxes it means you can afford them, there's no need to whine about it. It's unbecoming and selfish.
What country is your country?
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Post by Deleted on Dec 17, 2021 7:47:31 GMT
In my country, poor people are exempt from taxes. If you pay taxes it means you can afford them, there's no need to whine about it. It's unbecoming and selfish.
What country is your country?
France. |
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Post by Odysseus on Dec 17, 2021 7:52:51 GMT
What country is your country?
France.
Ah.
My grandparents are from Normandy. Circa approximately 1720. Quebec.
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Post by Deleted on Dec 17, 2021 16:51:58 GMT
Ah.
My grandparents are from Normandy. Circa approximately 1720. Quebec.
You'll find a few things have changed since then.  |
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Post by Odysseus on Dec 17, 2021 16:58:11 GMT
Ah.
My grandparents are from Normandy. Circa approximately 1720. Quebec.
You'll find a few things have changed since then.
How so?
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Post by Deleted on Dec 17, 2021 20:38:30 GMT
You'll find a few things have changed since then.
How so?
Since 1720? You bet they have. |
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Post by Odysseus on Dec 17, 2021 20:54:57 GMT
Since 1720? You bet they have.
Can you please be more specific? I mean, other than the advances in technology, politics, science, health, philosophy, etc. that the rest of the civilized world has gone through?
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Post by Deleted on Dec 17, 2021 21:24:56 GMT
Since 1720? You bet they have.
Can you please be more specific? I mean, other than the advances in technology, politics, science, health, philosophy, etc. that the rest of the civilized world has gone through?
People are taller. |
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Post by Odysseus on Dec 17, 2021 21:42:59 GMT
Can you please be more specific? I mean, other than the advances in technology, politics, science, health, philosophy, etc. that the rest of the civilized world has gone through?
People are taller.
That would fall under the general category of advances in health that the rest of the world also has experienced since 1720.
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Post by elmerfudd on Dec 18, 2021 0:19:47 GMT
Just from memory, which is somewhat cobwebby, france implemented an income tax years ago. It was pretty much universally ignored. You know how the French are. Snooty, self righteous, they tend to spit when they talk, and many of their women don't shave their legs. so the powers that be went with a value added tax, VAT, a consumption tax. People who consume, and who doesn't, pay it. but they also still have some kind of income tax. found this: taxsummaries.pwc.com/france/individual/taxes-on-personal-incomeHowever, frenchies pay a higher tax rate than 'murricans do. higher than most civilized countries. www.taxpolicycenter.org/briefing-book/how-do-us-taxes-compare-internationally |
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Post by Deleted on Dec 18, 2021 6:29:53 GMT
.... You know how the French are. Snooty, self righteous, they tend to spit when they talk, and many of their women don't shave their legs.... You stupid pieces of shit have been saying that kind of crap for decades. That's because, fucking asshole, you suck dicks for a living. If I ever get my hands on you, bastard, I'll apply to you an old american custom, I'll tar and feather you and with a couple of friends of mine we'll transport you on a rail all around the place. Keep that in mind next time you think of going on vacation in France, asshole. |
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Post by Deleted on Dec 18, 2021 16:56:21 GMT
In France, poor people are helped by the government, they don't pay taxes and can get up to a thousand Euros each month, plus free food and clothing, free healthcare, thorough healthcare, help with the rent, I know of someone who lives in a small apartment for fifty Euros a month (the rest is financed by the government). And this hasn't changed in spite of our governùent getting more and more rotten like yours is. So sure we pay more taxes per inhabitant than you people do but I'd rather do that than let people suffer.
You people could afford that kind of policy even more than we do but you'd rather cheat on your taxes and whine about the ones you can't avoid paying. Fuck you, assholes!
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