What Are You Doing Right Now
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@Dashrender said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
@wirestyle22 said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
@wirestyle22 said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
@wirestyle22 said in What Are You Doing Right Now:
If you make less than $116k as a single person and (I think) $183k as a couple you should be putting $5500 per year into a Roth IRA and using it as a container for mutual funds.
I do neither. No mutual funds, no retirement accounts
And by doing that is how I retired at 39.
Your earning potential far exceeded the mean income of a household though
But most people in my bracket can't retire at 39. Most of them lock up their investments and can't touch them till they are 65.
Yeah because you get outrageous benefits for doing so
Benefits like... being forced to work till you are 65 even if you made enough to retire earlier and not having access to money when needed and having to pay higher loan rates because you lack available collateral
How risky are those things you invested in compared to the typical investment vehicles?
Index Fund is the lowest risk vehicle that there is as long as you have at least ten years before you need to pull from it. Which means up to ten years before retirement (and that's only a maximum, could go right up to retirement) or ten years before you die, depending on how you want to use it.
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@wirestyle22 said in What Are You Doing Right Now:
Age is a resource when talking about investments.
Of course, but I don't see how it plays into Index Funds. Unless you are comparing it to day trading.
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@scottalanmiller said in What Are You Doing Right Now:
@Dashrender said in What Are You Doing Right Now:
@dafyre said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
@dafyre said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
@dafyre said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
@dafyre said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
Free money!
Where does the tax benefit come in?
Home mortgage debt gets a tax write off.
Even if it's just a home equity loan?
I believe so. But you'd have to verify.
Interesting. Are there any index funds (like Vangard, I think?) that will let you put cash in that you can withdraw at any time without penalty? [Note, I'm not talking about IRA or 401k type programs]
Vanguard definitely lets you cash out anytime. I think you can even write a check straight out of the account! It isn't instant like a savings account, takes like a day or two before the money comes out. But nearly instant.
About two years ago, I started "investing" with LendingClub... I've seen a nice return on that (~9% over the two years)... I've had to raid the funds a time or two for emergencies, but it's a rather nice program. Once your balance reaches a certain limit, you can fire & forget... (it's only like $2,500... I'm not there yet, lol).
Fire and forget?
Auto draws on your account to invest monthly or whatever.
What he said. You give it a spread of risk vs reward and it'll automatically handle stuff for you. As it is now, I have to log in a couple of times a month to make sure I'm getting paid, lol... Bank transfers from Lending Club to my Bank account generally happen over night (which is great for emergencies).
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@scottalanmiller said in What Are You Doing Right Now:
@wirestyle22 said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
@wirestyle22 said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
@Dashrender said in What Are You Doing Right Now:
Seriously though, because of your connections as well as your OJT, what did you invest in that gave you a great portfolio that allowed you to retire so young?
All of my investments went into Index Funds, real estate and direct business investments. None of the mutual funds, bonds and equities that most people do.
An Index fund is a mutual fund that people typically invest in. Especially when they are younger
Index Funds are funds without fund managers, they are lower overhead and managed by index, not by people. Has nothing to do with people being younger.
Index funds are extremely variable for that reason and typically younger people invest in them because they have the time needed for it to produce gains.
That's not logical nor mirrored in the market. Index Funds are very stable, in fact they are the most stable earning vehicle that there is. They are more stable than mutual funds and are the only really reliable investment tool of its type. There is no reason to lean on it for youth and not when old unless you are expected to die in under ten years, then, if the markets are not in your favour, you stop investing and start hedging with bonds, money markets, commodities and such.
This is one instance where I don't agree with you, but that is okay
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@dafyre said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
@Dashrender said in What Are You Doing Right Now:
@dafyre said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
@dafyre said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
@dafyre said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
@dafyre said in What Are You Doing Right Now:
@scottalanmiller said in What Are You Doing Right Now:
Free money!
Where does the tax benefit come in?
Home mortgage debt gets a tax write off.
Even if it's just a home equity loan?
I believe so. But you'd have to verify.
Interesting. Are there any index funds (like Vangard, I think?) that will let you put cash in that you can withdraw at any time without penalty? [Note, I'm not talking about IRA or 401k type programs]
Vanguard definitely lets you cash out anytime. I think you can even write a check straight out of the account! It isn't instant like a savings account, takes like a day or two before the money comes out. But nearly instant.
About two years ago, I started "investing" with LendingClub... I've seen a nice return on that (~9% over the two years)... I've had to raid the funds a time or two for emergencies, but it's a rather nice program. Once your balance reaches a certain limit, you can fire & forget... (it's only like $2,500... I'm not there yet, lol).
Fire and forget?
Auto draws on your account to invest monthly or whatever.
What he said. You give it a spread of risk vs reward and it'll automatically handle stuff for you. As it is now, I have to log in a couple of times a month to make sure I'm getting paid, lol... Bank transfers from Lending Club to my Bank account generally happen over night (which is great for emergencies).
It's a form of dollar cost averaging which statistically sees better gains as an investment tactic. Basically you don't worry about how the market is doing and you always invest the same amount every month.
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@wirestyle22 said in What Are You Doing Right Now:
This is one instance where I don't agree with you, but that is okay
But what artifact of Index Funds makes you feel that way? If you feel that they work this way, what's the reason?
I'm basing my approach to it off of their lifetime historical performance going back to the beginning of recorded markets. Index Funds are specifically good for investing in even with only as little as ten years to recover. They have outperformed equities investing, mutual funds, commodities and others in every ten year period and nearly any shorter period... in recorded history.
So they are mathematically the best investment even for people in their 50s that need to pull money out in just one decade and easily still very, very good for retirees who need to live off of retirement investments for decades yet to come.
If anything, you can be more reckless in your investing when you are young. The old need stable, reliable investments because they have no time to make up for bad ones. Kids can take wild gambles and maybe get lucky or maybe work extra hard to make up for them over the course of their careers.
So that's why I'm saying that while IFs are good for everyone, they are least important for youths and most important for the elderly when risk aversion becomes higher. Since IFs are the lowest risk vehicle that there is, they are most important when you can't afford risk.
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Identity management makes kerberos SSH authentication super easy.
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I'm fighting to stay awake right now...and I won't get home til 9PM and have to be up at 2:30AM...and that's my schedule for the next three days...FML...
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@stacksofplates said in What Are You Doing Right Now:
Identity management makes kerberos SSH authentication super easy.
FreeIPA?
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@scottalanmiller said in What Are You Doing Right Now:
@stacksofplates said in What Are You Doing Right Now:
Identity management makes kerberos SSH authentication super easy.
FreeIPA?
Ya, Red Hat calls it Identity Management. Its a lot more polished in Fedora/RHEL than any other place I've seen it.
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Getting Comodo One RMM set up for testing.
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Who names their software the COCC Agent? Seriously people.
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Thats like the marketing equivalent to watch this..
Pure gold.
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I haven't seen an email from SW in hours. Anyone know if their email is down?
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Sure your email isn't blocked? Happened to me. I couldn't even reset my password until i contacted their support.
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@tiagom said in What Are You Doing Right Now:
Sure your email isn't blocked? Happened to me. I couldn't even reset my password until i contacted their support.
It wasn't a few hours ago.
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Can't believe that I've never been muted before. But seriously, this is my first one. This was from Reidclone I'm 99% sure after he said that he was sure that the user knew that what he was telling him was a scam and was upset that I was telling the truth rather than backing the vendors. I was not prim and proper in responding to that crap.
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@scottalanmiller said in What Are You Doing Right Now:
Can't believe that I've never been muted before. But seriously, this is my first one. This was from Reidclone I'm 99% sure after he said that he was sure that the user knew that what he was telling him was a scam and was upset that I was telling the truth rather than backing the vendors. I was not prim and proper in responding to that crap.
I want to mute you all the time
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Wow, how long is that for?
Have a link to the thread?
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@scottalanmiller said in What Are You Doing Right Now:
Can't believe that I've never been muted before. But seriously, this is my first one. This was from Reidclone I'm 99% sure after he said that he was sure that the user knew that what he was telling him was a scam and was upset that I was telling the truth rather than backing the vendors. I was not prim and proper in responding to that crap.
Scott Alan Miller
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