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Maderan
Favorite team: | LSU |
Location: | |
Biography: | |
Interests: | |
Occupation: | |
Number of Posts: | 807 |
Registered on: | 2/1/2005 |
Online Status: | Not Online |
Recent Posts
Message
re: April jobs number 175k, well below 240k estimates. Markets rally
Posted by Maderan on 5/3/24 at 8:57 am
I think that you underestimate the length of time it takes for interest rate changes to have an effect on the economy. They need to start cutting 4-6 months before we hit their target numbers or we swing too far the opposite way economically.
They have been waiting on the labor market to move dow...
re: Slowest Housing Markets - Louisiana has 3/12
Posted by Maderan on 4/19/24 at 3:01 pm
I don't think it is getting better either. Metairie is tough as well. Just sold but house had been on the market since August. Don't see anything but reductions in listing prices in the area. People can't buy because they all need to sell first.
...
re: IRS collected a gargantuan $7 billion estate tax from a single source, nobody knows who
Posted by Maderan on 4/18/24 at 4:53 pm
Off the wall guess. The unknown inventor of Bit Coin who didn't properly plan for the sucess of the coins he owned....
re: Anyone here have a saltwater aquarium?
Posted by Maderan on 3/19/24 at 9:50 am
We do mix our own water. We have a system that changes a little water (1.5 gallons) every day. That makes it very easy to keep up with that part of it.
...
re: Anyone here have a saltwater aquarium?
Posted by Maderan on 3/19/24 at 9:32 am
Way, way harder. Way, way more expensive for everything that goes into it...unless you are just going for fish. In that case, still more expensive but not as bad as a coral tank.
That being said, way more interesting....
re: How much wealth do you need to join the 1% club in your country?
Posted by Maderan on 2/29/24 at 10:58 am
Is this number net worth or investable assets? ...
re: What amount do you save per month?
Posted by Maderan on 2/28/24 at 5:27 pm
Keep checking account at around 3 months of expenses. When it builds past that it is either earmarked for quarterly tax payments or some other large payment (property insurance, property tax, etc).
Otherwise overages go to investments. I don't dollar cost average, usually just put in chunks.
...
re: s&P etf to short the market
Posted by Maderan on 2/28/24 at 4:15 pm
Be careful of inverse ETFs. They are not meant for long holding periods and most re-balance daily. Beta slippage and volatility decay causes losses the longer the holding period....
re: Louisiana Evangelist Accused of Stealing Money From Ministry
Posted by Maderan on 2/20/24 at 8:40 am
Louisiana Evangelist Sets Up Ministry To Steal Money
Fixed thread title for ya...
re: My nephew was just named to the 2007 US National ODP team!!!!!
Posted by Maderan on 2/17/24 at 11:46 am
[quote]We travelled to Lafayette in the fall for them to play one league game.[/quote]
Ha, you are just dipping your toe. At higher levels you can be driving 5+ hours or flying for a single game... ...
re: Here's the budget breakdown of a couple that make $500K and still feel average
Posted by Maderan on 2/1/24 at 7:31 am
What state and size house? My policy is $14k and house is worth multiples of the one in the OP. 60k is crazy. ...
re: Here's the budget breakdown of a couple that make $500K and still feel average
Posted by Maderan on 1/31/24 at 10:58 pm
Yes, that seems wildly high. ...
re: Here's the budget breakdown of a couple that make $500K and still feel average
Posted by Maderan on 1/29/24 at 10:51 pm
[quote]$18k on vacations is fricking ridiculous[/quote]
Yeah, that is pretty easy these days with 2 or 3 trips and a family 5. ...
re: Here's the budget breakdown of a couple that make $500K and still feel average
Posted by Maderan on 1/27/24 at 9:09 pm
[quote]$500K incomes where folks save $250K[/quote]
That's because you won't save that much at that income level. Hardly people in their 30s or 40s with that income will live a balanced lifestyle. They will inflate their expenses to match most of that income.
You will save more if you are olde...
re: Do I have a bad financial advisor?
Posted by Maderan on 1/26/24 at 10:55 am
[quote]A good advisor does not sell you stuff. They do what is best for your situation and what is best for you.[/quote]
This^
For the most part using Edward Jones is like going to the mall to do your taxes. I am sure there are some good/competent FAs that work for EJ...but I have never met on...
re: Do I have a bad financial advisor?
Posted by Maderan on 1/25/24 at 3:31 pm
Don't walk...run. If any FA is pushing insurance then you know they are looking out for themselves and not you. Big fees and commissions.
If you want an FA, find one that is a true fiduciary (and can't accept commissions). Hopefully they are not involved in the 401(k) for the company....
re: Who are the real known/actual OT ballers?
Posted by Maderan on 1/25/24 at 12:49 pm
[quote]Right. What is "north" of 7 figures?[/quote]
$1,000,001 and above is north of 7 figures
$10,000,001 and above is north of 8 figures
Hint: duh
...
re: Who are the real known/actual OT ballers?
Posted by Maderan on 1/25/24 at 12:33 pm
[quote]Yeah, but an income "north of 7 figures" would be $10 million a year minimum. I'd hope someone bringing in that kind of cash would have a net worth in excess of that. Your scenario makes sense for someone making a few hundred thousand though.[/quote]
No, 7 figures starts a $1 mil and goes ...
re: Who are the real known/actual OT ballers?
Posted by Maderan on 1/25/24 at 12:30 pm
[quote]My first job out of college was working for a private equity group putting together oil and real estate deals. When we would get a group together everyone had to send in their tax returns and personal financial statements.
I am not exaggerating when I tell you that probably 30% (conservati...
re: Who are the real known/actual OT ballers?
Posted by Maderan on 1/25/24 at 12:28 pm
$5 million net worth is pretty good but not out of control high since you are including illiquid items like housing and business values.
$5 million in cash/investable assets is a whole different story though.
...
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