Originally Posted by DaFace:
Broader PF question for you guys: How do you think about emergency funds when you're otherwise set up really well?
I'd consider my wife and I to be pretty well off these days. Stable jobs that pay well. Unlikely that we'd both lose them at the same time.
Assuming your pay is somewhat equal and either of you alone could cover a good chunk of the bills then, yeah, I think youre ok to shrink the emergency fund. There are conservative things you could do like laddering into government i-bonds that are probably better than holding cash most of the time.
In your position the emergency fund is really just there to help you sleep at night. Whatever you're comfortable with [Reply]
Originally Posted by ChiliConCarnage:
Assuming your pay is somewhat equal and either of you alone could cover a good chunk of the bills then, yeah, I think youre ok to shrink the emergency fund. There are conservative things you could do like laddering into government i-bonds that are probably better than holding cash most of the time.
In your position the emergency fund is really just there to help you sleep at night. Whatever you're comfortable with
Can get a bottle of Melatonin for about $2 [Reply]
Do you all handle your IRAs (Roth and Traditional) on your own or do you use a financial advisor? I changed jobs so I'm trying to figure out what to do with my old 403b. [Reply]
Originally Posted by Captain Obvious:
Do you all handle your IRAs (Roth and Traditional) on your own or do you use a financial advisor? I changed jobs so I'm trying to figure out what to do with my old 403b.
Unless you are going to do something crazy with your investing strategy, I think it's pretty easy to just do it on your own with low fee index funds. You'll lose quite a bit in fees to most advisors. [Reply]
Originally Posted by Captain Obvious:
Do you all handle your IRAs (Roth and Traditional) on your own or do you use a financial advisor? I changed jobs so I'm trying to figure out what to do with my old 403b.
It’s pretty easy most places. Mine is at Vanguard and it wasn’t hard at all.
Target dated funds are a pretty good facsimile for what advisors could do.
And most places have some sort of support functions to help with administration.
If simple management is your thing you could roll it to your new gig. [Reply]
Originally Posted by Captain Obvious:
Do you all handle your IRAs (Roth and Traditional) on your own or do you use a financial advisor? I changed jobs so I'm trying to figure out what to do with my old 403b.
There are traditional financial advisors who take a percentage of your wealth each year and manage things. Those people seem overpriced to me. I did a research project about 18 months ago and interviewed financial planners around the country, and I'm intrigued by the newer type that are fee only advisors. They charge you an hourly rate for advice. Those people seem like they could be a really good deal if they know bigger strategic things to do rather than just picking stocks and funds for you. I think I will talk to one at some point about things like strategizing for Social Security and Medicare and things like health savings accounts where I've got a learning curve coming up. [Reply]
Originally Posted by Rain Man:
There are traditional financial advisors who take a percentage of your wealth each year and manage things. Those people seem overpriced to me.
Completely agree. I struggle to understand what could possibly justify such high fees particularly for higher balance accounts. I have a similar feeling for Trust Administration/Executors. If you combine professional trust admin, financial planning for an account along with tax preparation, it could literally take the entire yearly prosit from an account. [Reply]
Originally Posted by Peter Gibbons:
Completely agree. I struggle to understand what could possibly justify such high fees particularly for higher balance accounts. I have a similar feeling for Trust Administration/Executors. If you combine professional trust admin, financial planning for an account along with tax preparation, it could literally take the entire yearly prosit from an account.
Yeah, i feel like they're living fossils from the days when you had to have a broker to make trades and when stock information wasn't readily available and when things like index funds didn't exist. 30 years ago you had to have one, but now you don't. [Reply]
Originally Posted by stumppy:
I was a little slow to get on NAKD this morning but I'm up 17% so far.
I got a decent bite out of it today. Got in at .75 and then got stop lossed out at a little over .80. I probably could have relaxed on the stop loss % some since I figured it would be all over the place, but I was just looking for some green. [Reply]
