Lost Sheep, Build Thread.
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Taco Loco
Tired and Lazy, married to ‘The Laundry Fairy’
Exactly! cause it only takes $.25/quarter still, to ride your mom!
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Silverback
Lima Gulf Bravo Foxtrot Juliet Bravo
boom... drops the mike. LOL
Taco Loco
Tired and Lazy, married to ‘The Laundry Fairy’
Why I Still Pick Up Pennies From The Ground.
As I was walking out of Dairy Queen the other day I heard someone behind me say, “There’s a penny on the ground for you.” She was an older lady and probably grew up around the depression or World War II era. Now, I admit, the first thought that went through my head was what on earth is a penny worth anymore? But I didn’t want to sound like a jerk by shrugging off her wealth tip, and plus I like free money no matter what denomination it comes in.
So I picked up the penny and walked to my car. As I backed out, I saw the lady open the door to her jet black BMW and hand the sundaes to her husband in the passenger seat. Now I have no idea about that couple’s total financial picture, but I can put two and two together. Why was it that an older lady driving a BMW would be so concerned with a penny on the ground? It would take six million pennies to buy the beamer she was driving and six hundred just to buy the ice cream they were eating – what good is ONE penny?
The truth is, one penny isn’t worth much at all. It can’t even buy a piece of gum and the cost to make a penny is more than it is actually worth.
A Penny Won’t Make You Rich, Or Will It?
I didn’t feel any richer that day with an extra penny in my pocket, but I saw something I hope I never forget. Your attitude towards money today will have an effect on how you’re able to use money in the future. I really can’t say for sure that the older couple in the BMW was in a good financial situation, but it’s a lot different than many current (and soon to be) retirees, so they probably know a thing or two about managing money.
I’ll also make it a point to say that a car isn’t a measure of someone’s true wealth. The lesson I learned wasn’t that saving pennies would allow you to drive a BMW at retirement. It was that your attitude towards money today will have an effect on how you’re able to use money in the future.
My Two Cents
1. Watch Your Inflow And Outflow Carefully.
I like to think that there are two parts to your income and expenses – big-ticket items and small ticket items. The big-ticket things probably aren’t changing anytime soon once you make a budget. These are your paychecks, mortgage payment, car payments, etc. The smaller ticket items can be adjusted quickly and include: entertainment budgets, eating out fund, side hustle income, etc.
The big-ticket items are usually on autopilot. The smaller items usually involve a choice. Guess which one usually causes budgets to be squeezed each month? For us, it’s sometimes easy to ignore the small $3 spent at Walgreens or occasional $7 spent at WalMart, but those small things can add up to triple digits quickly! The same is true for income. We’ve found that with bonus checks or side income, the best way to do is to earmark the money for a specific expense or debt. If we overlook it and throw it into the checking account, it slowly becomes absorbed by other expenses.
2. Don’t Get Tired Of Being Thankful For The Small Things.
We live in a society that’s focused on upgrades, would you agree? It’s become normal to upgrade to bigger and better things when you make more money. The problem that can come from this mentality is that we can forget about the small things – and I’m not just talking about ignoring a penny on the ground. How many things do we take for granted each day while looking for ways to upgrade to something better? I’m guilty of it and I’m sure you could think back to a time when you weren’t practicing contentment.
It’s challenging, but I think it’s the key to growing your net worth. Watching your inflow and outflow while reminding yourself to be content with what you have is fundamental if you want to grow your wealth.Why I Still Pick Up Pennies From the Ground
Taco Loco
Tired and Lazy, married to ‘The Laundry Fairy’
Social Security Insolvency, this will affect you, what our parents receive from SS and what future generations end up receiving, will be significantly less/none.
Year 2026, Medicare's hospital insurance fund would be depleted.
Year 2032, The disability fund is expected to run out.
Year 2034, Social Security will no longer be able to pay its full scheduled benefits unless Congress takes action to shore up the program's finances.
The demands on these programs are increasing as Americans age. There are only 2.8 workers per Social Security recipient and the percent continues to slowly drop.
Year 2026, Medicare's hospital insurance fund would be depleted.
Year 2032, The disability fund is expected to run out.
Year 2034, Social Security will no longer be able to pay its full scheduled benefits unless Congress takes action to shore up the program's finances.
The demands on these programs are increasing as Americans age. There are only 2.8 workers per Social Security recipient and the percent continues to slowly drop.
The Baby Boomer generation is going to be the final blow. The system was flawed to start and then thieving political practices just made it worse.
Taco Loco
Tired and Lazy, married to ‘The Laundry Fairy’
Baby Boomer began reaching age 65, in 2011 26million to date.
50 million more will turn 65 over the next 10 years and here is their stats.
41% still working
45% have no retirement savings
38% have less than 100K saved
59% will heavily rely on SS
44% have sizable debt
Get the bamboo sticks ready!
Looks like job security. Congrats.
Silverback
Lima Gulf Bravo Foxtrot Juliet Bravo
Congrats!!
@Taco Loco awesome! Good to hear!
Silverback
Lima Gulf Bravo Foxtrot Juliet Bravo
tex
That's Mr Asshole to you
I have had crown today. Dont ask me hard questionsYou either moved to the San Antonio area or failed at reading? Which is it?
, I'll need more crown for sure.
Oswego
n00b
Gubment marketing/brainwashing has a good deal to do with this. I see them currently targeting the youth to buy houses and live the "American Dream" on Vice TV's cable station as well as others. Same crap they spoon-fed me into being dumb and believing. Stating 60% of Americans own their own homes.....thats total BS. 60% may be paying on loans for homes but no way 60% OWN their homes. Worst financial decision I ever made was buying a house.
Oh and congrats!
Taco Loco
Tired and Lazy, married to ‘The Laundry Fairy’
My TSP/401k investment mostly mirrors the S&P 500 index and from Jan 1, 2018 to date, the rate of return is almost 15%.
My strategy this past year was to front load my TSP with more money to get close to max IRS contribution and idle down the last 3 months but yet capture the agency's 5% match for the remainder of pay periods for 2018.
The email sent was warning me that I'am contributing too much, duh!
don't worry TSP, adjustments will happen soon, because I like 5% match of free money for the rest of the pay periods left this year.
Taco Loco
Tired and Lazy, married to ‘The Laundry Fairy’
Fidelity rolls out first ever no-fee index funds
Fidelity to launch no-fee index funds | Fox Business
Fidelity to launch no-fee index funds | Fox Business
Taco Loco
Tired and Lazy, married to ‘The Laundry Fairy’
How to potentially become a marijuana millionaire, albeit carefully
No way would I sink money into Cryptocurrencies, but I'm thinking about investing $1,000 or so into some Latin lettuce stocks.