Tundras live: Dumb Dad Jokes, Incorrect Opinions, and Relationship Advice.

I don't know all the ins and outs, but yeah, sorta. You pay in to it and the amount you receive is based on the average of your highest five year salary, something like that.

A secondary plan is key though. You also need to invest. Unless you can live in old age on less than what you made while working.

 

At some point I expect to be able to pay off my mortgage and for my kids to move out. I'll also be able to stop putting money into their education fund at some point.

 

I did. I started investing as soon as I made enough to pay the bills. Rule of thumb, your money doubles every 7 years if invested wisely.

We also didn't skimp so much that we didn't have some good leisure time.

I'm not one to give advice, but investing in real estate, the market and liveing well below our means has worked out.

Also, in hindsight for me, get a fiduciary. By law, here, they can't be associated with any company. They can only take profit from their clients. Their best interest is your best financial gain. Ours gets 1% of net wealth annually, taken at .25% per quarter. If we're up, they're up.

In the US, 5K in a Roth IRA is something I wish I had known about a long time ago.

In other news, I'm going to watch another episode of Firefly, again.

 

Very cool.
When will that take place?

 

Most of the people in my circle did. Most started in their teens, some of us in our early 20's. We are however, the exception in that we take an active interest in our finances. Like I said, I know even more people who don't save at all because of CPP and OAS.

My Wealthsimple managed RRSP in an equity heavy index fund is is doing a time weighted return of 13%. My self managed index funds are a bit higher. Obviously things can go down, that's the risk of self investing. They could also take off, in which case our money locked away in the CPP does us no good at all.

I'd rather have the freedom to take the risks and make the decisions myself.

That's not a bad thing. Tearing up the Indian Act and having one law for one people in one nation would save the country in excess of $6 billion annually.

Well, the prime minister prorogued parliament to save himself from a non-confidence vote so that goes until March 25th I believe. After that, if the opposition parties can pull their nuts out and do a non-confidence vote we could be back at the polls in April. The current set election time if that doesn't happen is in October.

 

Firefly is one of the greatest shows every made.

"Dear Diary, today I was pompous and my sister was crazy. The we got kidnapped by hill folk. It was the best day ever"

 

That fire is crazy, hurricane force winds expected tonight/tomorrow

 

That one has already been used here...

 

Pretty sure we've been there for a few years now...

 

I second @JMB 's advice on getting a competent/robust fiduciary management group. They have earned their percentage for us, and can help accumulate wealth much more strategically than my strategy of selecting a few index funds. The last account statement I got from them was 145 pages long because they are actively making and adjusting their own index fund, if that makes sense. These guys are way smarter investors than I am and are actively looking for ways to adjust my investments based on various different factors, including the potential winners/losers influenced by potential tariffs. I sleep easier at night knowing they are out there trying to make us more money as well as minimize losses. Also, my sister and I use the same group, so they base their fees on our combined assets, and that has reduced the fees.

 

It's not 'given'; it's paid into and then paid out to those who have worked enough 'quarters' while paying into the system.... to my understanding it's somewhat tiered and the amounts paid out to you can be reduced by those who receive payouts elsewhere.

I did not pay into SS during my career (the majority of my adult life), so unless I go back to work and pay into the system I will not receive SS even once I reach appropriate age. If I did return to work and pay into the sytem, my benefit would be significantly less than normal cuz of limited 'buy in' on my behalf throughout the years...

 

I call her Vera.

 

Final words of wisdom before I hit the rack tonight:

Be the man Homeland Security thinks you are.

G'night y'all.

 

the only way to make that worse....is to have it in grape flavor.

 

"I'm not one to give advice, but investing in real estate, the market and living well below our means has worked out."

preach, brother.


<the below not directed at @JMB ...but the group as a whole.>


Help me thru this 1% fee on ttl assets.

I ask from a standpoint of ignorance. so, don't immediately lather up.
We have never had a managed investment account.


our Schwab account has no fees - other than the Mutual fund fees.

We've done quite well using 2 investments - s&p 500 & div fund.

I will tell you this....the largest growth factor in our account is my inflows to it - from W2 & K1 earnings.

yes, the investment % of growth is that of the S&P 500....which is nice.

but, there is NO WAY IN HELL I could have what I have in that account by shear investment growth.

my question:

does that 1% also get charged on the money that I put in there?*

because I think it does.

that 1% should only be charged on the % of investment growth.

why would I pay anyone 1% on the money I earned.



2nd question....how many of ya'll with investment accounts are performing at or above a std index fund?





*my parent's Morgan Stanley accounts function this way.
When my Father sold his insurance agency, those inflows to the investment account were now part of the 1% fee.

 

to add:

swobx is a balanced account...which probably mirrors a "managed" account.

swppx is the S&P 500 index.

over 10 year span.....quite a diff.

 

Ok, I really need you to help with an experiment, please, when you have just over 45 minutes to commit to it.

1. Get yourself a good set of high quality speakers or headphones.
2. Sit down in a dark room by yourself with no other people and no distractions of any kind.
3. Listen to the Ride the Lightning album in its entirety from start to finish.
4. Report back here on your experience.

Yes, the first 35 seconds of the first song are somewhat soft. No, that is not what the rest of the album is like. Yes, you will live.

 

Chem trails are in the sky today. Are they con trails or chem trails? What say you?

 

Could be both. There is a conspiracy theory that the Gubmint is surreptitiously mimicking contrails with various test chemical projects.

 

I wasn't joking.

 

Five Finger Death Punch is better than Kid Rock

 

Unpopular, but correct, opinion. Metallica is extremely overrated with the exception of their first two albums.