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educate me 401-k

  1. #776
    Soul Rider Paul_E_D's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by TheIglu View Post
    Did you buy a local multifamily? Have to rehab it at all or was turn key?

    I've looked into this in past, but never thought in depth about the process and potential.
    Yes, I did. It's as close to turn-key as you can get. There's always something that can be better. But it is a bit farther from home than I had planned. I pay a local guy to look after the basics for me. If you have specific questions, hit me up on messenger.

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  2. #777
    World Trackday Champion xxaarraa's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by JettaJayGLS View Post
    This is the more exciting route to me as well..
    3) Your 401k balance never comes up in conversation...the multiple properties you own does.
    Why would anything related to your net worth have to come up in conversation? If you take pleasure in impressing people by telling them how many properties you own, there is something wrong about that situation. Just my opinion of course.

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    Quote Originally Posted by Ductard View Post
    Personally, I would just call up Shell and see which bike they have specified for Rotella.
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  3. #778
    I've been here before. Mustang's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by xxaarraa View Post
    Why would anything related to your net worth have to come up in conversation? If you take pleasure in impressing people by telling them how many properties you own, there is something wrong about that situation. Just my opinion of course.
    Oh come on - it doesn't make you feel good when you pull up somewhere in the C7 and people gawk? Same difference here.

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  4. #779
    World Trackday Champion xxaarraa's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by Mustang View Post
    Oh come on - it doesn't make you feel good when you pull up somewhere in the C7 and people gawk? Same difference here.
    Not really. I do not like it when people notice my cars or want to talk about it when I pull up somewhere. I most often say something really awkward and rush off.

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    All you need to know about NESR:
    Quote Originally Posted by Ductard View Post
    Personally, I would just call up Shell and see which bike they have specified for Rotella.
    Instagram: xxaarraa1983

  5. #780
    Member TwelveGaugeSage's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by tsorfas View Post
    Thereís great info here. Unfortunately we gotta go through some bs to find.
    I wanna thank everyone who gave advice and shared personal opinions so far keep em coming.

    Iím still offering free (Greek) dinner to anyone who is willing to sit with me and go over some shit with my fidelity 401k account.

    I am also always down to discuss real estate investing with anyone who wants some info. It sure is not for everyone but has been very profitable for me and I want to believe it will allow me to retire quicker than my regular job and 401k would.

    In the end we will know life happens. You gotta give up something to gain something else. Racing for family. Blow for 401k. Partying for real estate investing. Every case is different.

    Itís definitely a good practice to not put all your eggs in one basket but I am also a firm believe in staying away or putting very few eggs in the baskets you donít know shit about.
    I don't have the knowledge or desire to learn enough to manage my investments properly, so I got myself a CFP in Ludlow. I do a little research into anything outside of stocks that we put the money into, but otherwise trust my planner. Since going to him last May, I am up over 10% AFTER paying the planner. I don't know how that compares to what people have been averaging in this bull market, but I'm more than satisfied with it. I even have some hedges built in to shield against a large market correction.

    I like the idea of real estate investing, but don't want to put my time into it while I am working full-time. If I decide to retire or cut hours, it's definitely something I want to look more into. For now, part of my portfolio is a REIT, which is good enough for me.

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  6. #781
    Lifer SteveM's Avatar
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    Re: educate me 401-k

    In my experience, talkers have income, non-talkers have wealth. Talkers have shiny expenses, non-talkers have assets.

    30 years around the construction business have put me in a lot of rooms with guys who have really fancy hats, but very few cattle.

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  7. #782
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by TwelveGaugeSage View Post
    Since going to him last May, I am up over 10% AFTER paying the planner. I don't know how that compares to what people have been averaging in this bull market, but I'm more than satisfied with it.
    +10% this year is not that good. This year was gangbusters. The S&P 500 alone is up over 16% since May 1, 2017.
    But if you're satisfied.. that's probably what counts.

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  8. #783
    Fast is contagious JettaJayGLS's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by xxaarraa View Post
    Why would anything related to your net worth have to come up in conversation? If you take pleasure in impressing people by telling them how many properties you own, there is something wrong about that situation. Just my opinion of course.
    Please, you post every other day about modifications and improvements you make and want to make to your second property. You post crazy photos of your $50,000 toy truck.

    Get off your horse...er, um, your Raptor, er, um, your rental properties in/around Boston. Or how about your deep collection of awesome rare motorcycles. Its funny, because I know about these things because you talk about them all time. But no, you would never do something like that. It makes you feel awkward.

    Never once in conversation do I mention my 401k balance. I never mention the cost of my house either, unless someone is truly interested and asks (its in the public domain anyway). But I enjoy talking about the fact I own a house. I love discussing what things I'm changing and improving, and also what shit keeps on breaking. I like talking about how I live in a shitty part of Boston. I take enjoyment discussing this investment. If I put that all away in 401k instead, its a much more boring conversation.

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    Last edited by JettaJayGLS; 01-13-18 at 04:18 PM.
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  9. #784
    World Trackday Champion xxaarraa's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by JettaJayGLS View Post
    Please, you post every other day about modifications and improvements you make and want to make to your second property. You post crazy photos of your $50,000 toy truck.

    Get off your horse...er, um, your Raptor, er, um, your multi-family in Boston. Its funny, because I know about these things because you talk about them all time. But no, you would never do something like that. It makes you feel awkward.

    Never once in conversation do I mention my 401k balance. I never mention the cost of my house either, unless someone is truly interested and asks (its in the public domain anyway). But I enjoy talking about the fact I own a house. I love discussing what things I'm changing and improving, and also what shit keeps on breaking. I like talking about how I live in a shitty part of Boston. I take enjoyment discussing this investment. If I put that all away in 401k instead, its a much more boring conversation.
    Jetta, you misunderstand me man. Sorry, I did not mean to offend you.

    I create threads on here asking about property maintenance or refinance or mods Etc only because I want to take advantage of the knowledge base. When you had said it comes up in conversation, I assumed you meant conversations in real life, instead of conversations on nesr.

    In real life, outside of car or truck forums, nobody really knows much about me or my net worth.

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    All you need to know about NESR:
    Quote Originally Posted by Ductard View Post
    Personally, I would just call up Shell and see which bike they have specified for Rotella.
    Instagram: xxaarraa1983

  10. #785
    Fast is contagious JettaJayGLS's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by xxaarraa View Post
    Jetta, you misunderstand me man. Sorry, I did not mean to offend you.

    I create threads on here asking about property maintenance or refinance or mods Etc only because I want to take advantage of the knowledge base. When you had said it comes up in conversation, I assumed you meant conversations in real life, instead of conversations on nesr.

    In real life, outside of car or truck forums, nobody really knows much about me or my net worth.
    I fail to see any difference between discussing with people you know on an internet form and people you know in real life. Your in-person friends/people you communicate with don't know about your truck/homes/motorcycles?

    You made a post about your truck labeled something about not having a small penis. You mean to tell me that the purpose of that post was to ask questions about modifications and not just to discuss something really cool that you have?

    I do not believe you when you say you did not mean to offend. The post you made is directly meant to offend. I have no gripe about you discussing your toys. I enjoy reading just about all of those threads you have posted. I have a gripe with you trying to make me feel bad about doing the same thing.

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    Last edited by JettaJayGLS; 01-13-18 at 04:23 PM.
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  11. #786
    World Trackday Champion xxaarraa's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by JettaJayGLS View Post
    I fail to see any difference between discussing with people you know on an internet form and people you know in real life. Your in-person friends/people you communicate with don't know about your truck/homes/motorcycles?

    You made a post about your truck labeled something about not having a small penis. You mean to tell me that the purpose of that post was to ask questions about modifications and not just to discuss something really cool that you have?

    I do not believe you when you say you did not mean to offend. The post you made is directly meant to offend. I have no gripe about you discussing your toys. I enjoy reading just about all of those threads you have posted. I have a gripe with you trying to make me feel bad about doing the same thing.
    The only reason I bought that truck is because of somebody on nesser. Xrocket21 is the person that help me find an allocation for the truck, and my thread was intended to be a parody of a thread he had posted about his truck. Have you seen any other threads that I have posted about my car or my previous trucks Etc?

    Oh, my property maintenance related threads have taught me a ton about that topic. Just last week the refinance thread saved me 11 Grand. I don't create those to discuss my net worth, I create those to get knowledge.

    Anyway, I am sorry I came across as preachy. That's not my style, and genuinely, in real life nobody really knows about my hobbies or net worth.

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    Last edited by xxaarraa; 01-13-18 at 04:33 PM.
    All you need to know about NESR:
    Quote Originally Posted by Ductard View Post
    Personally, I would just call up Shell and see which bike they have specified for Rotella.
    Instagram: xxaarraa1983

  12. #787
    Lifer Chippertheripper's Avatar
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    Re: educate me 401-k

    dang. did I miss anything fun in any of these threads I haven't ventured into?

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  13. #788
    Lifer gixxer72's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by xxaarraa View Post
    , in real life nobody really knows about my hobbies or net worth.
    Are you an international contract killer? Badass.

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  14. #789
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    Re: educate me 401-k

    Quote Originally Posted by gixxer72 View Post
    Are you an international contract killer? Badass.
    Not quite. This is the real-life xxaarraa:


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  15. #790
    Your Father csmutty's Avatar
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    Re: educate me 401-k

    In case you guys didn't know...I have an EX500 race bike. It's some pretty serious kit. Everyone looks when it passes in an unidentifiable blur.

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    Re: educate me 401-k

    Quote Originally Posted by SteveM View Post
    In my experience, talkers have income, non-talkers have wealth. Talkers have shiny expenses, non-talkers have assets.

    30 years around the construction business have put me in a lot of rooms with guys who have really fancy hats, but very few cattle.
    Someone read Millionaire Next Door.

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  17. #792
    Your Father csmutty's Avatar
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    Re: educate me 401-k

    For traditional iras does anyone do a direct deposit from their employer?

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  18. #793
    Super Moderator TheIglu's Avatar
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    Re: educate me 401-k

    I just have it withdrawn on the same day as the direct deposit.

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  19. #794
    Your Father csmutty's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by TheIglu View Post
    I just have it withdrawn on the same day as the direct deposit.
    I was just curious if anyone was able to do it through direct deposit because then your realize the tax savings immediately instead of on an annual basis.

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  20. #795
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by csmutty View Post
    I was just curious if anyone was able to do it through direct deposit because then your realize the tax savings immediately instead of on an annual basis.
    I don't think you can do that with an IRA; have your W2 reflect your IRA savings. I think you have to report it on your taxes.
    You could (and arguably should) adjust your withholdings to compensate for the IRA deduction.. which would do the same thing.

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    Re: educate me 401-k

    Quote Originally Posted by db79 View Post
    Someone read Millionaire Next Door.
    Among others, yes, but I am a fan of this.

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  22. #797
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    Re: educate me 401-k

    I like the idea of an investment / rental / income property, but I worry about the time commitment. Based on my job, I'd pretty much HAVE to have a property manager or a deep bench of foks "on call" for issues with tenants etc. At that point I wonder how worthwhile the investment is - it would become more cashflow neutral and more about appreciation in the asset - at that point, just dumping money in the market is just as easy, although has less tax shelter. I think it's something I'd like to get into but probably not able to do so at this stage.

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  23. #798
    Soul Rider Paul_E_D's Avatar
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    Re: educate me 401-k

    It is true that the stock market seems like easy money right now. But if at the time when you need income from it we are in a long bear market it won't seem easy.

    I definitely pay a caretaker to handle small things so I don't have to be there all the time, but it's hardly making it cash flow neutral.

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  24. #799
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    Re: educate me 401-k

    Quote Originally Posted by Paul_E_D View Post
    It is true that the stock market seems like easy money right now. But if at the time when you need income from it we are in a long bear market it won't seem easy.

    I definitely pay a caretaker to handle small things so I don't have to be there all the time, but it's hardly making it cash flow neutral.
    In my opinion (for what it is worth) I think the stock market "HAS BEEN" easy money. There is a lot out there right now that the new money coming in is progressively more and more FOMO (fear of missing out) money. For me, that is a signal to be cautious about buying in at the top,

    I'm not bailing out because the need for liquidity is years in the future. But at the end of 2018, I'd be happy if the year merely held onto the gains from 2017.

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  25. #800
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by Paul_E_D View Post
    It is true that the stock market seems like easy money right now. But if at the time when you need income from it we are in a long bear market it won't seem easy.

    I definitely pay a caretaker to handle small things so I don't have to be there all the time, but it's hardly making it cash flow neutral.


    Give me a break.

    All investments have risk. Investing in stocks is no different than real-estate in this respect. Neither is foolproof. Neither is a sure thing. Both have histories showing highs and lows. Neither of those histories predicts a damned thing about the future.

    IMO investing in broad-based, scatter gun indexes like VTSAX couples your investment performance to the health of the overall US economy. Since my family, neighbors, community, job, grocer and just about everything else I deal with on a daily basis is also tied to the health of that same economy.. I am okay with that relationship. I'm in it for the long haul and will take todays bull market just the same as tomorrow's bear. Drawing income in a bear market is perfectly doable. All it takes is some leg work and pre-planning. Move investments you need NOW into less volatile assets, like cash. Leave the $ you don't need for a long time in more aggressive investments and ignore their short-term performance. Control spending. Maintain discipline.

    By the way I think you have your head up your ass if you think your rents will survive a significant down-turn in the economy.

    If hell bent on investing in real-estate one can still participate in a 401k and just direct it all into something like VGSIX. 401k and this new shiny real-estate thing you've discovered are not mutually exclusive concepts. Quite frankly if inclined I think you may even be able to do more targeted real-estate investments through self directed IRAs if you tried hard enough.

    Passing on the free-money offered via the employer match and the more free-money offered by the tax shelter seems really short-sighted.

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