trimatty471
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Post by trimatty471 on Jun 17, 2015 21:22:09 GMT -5
I have been with YMAM since the old MSN boards. I enjoyed reading everyone's trials and triumphs.
This board gave me the courage to open a taxable and ROTH account with Vanguard and encouraged me to save a six month emergency fund.
i follow the older members closely because their stories has enabled me not to worry so much about the future.
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Jun 17, 2015 22:13:12 GMT -5
Awesome- I almost forgot the Phil Calculator tool. Extremely valuable. Realizing that if I can just cut down a few squares of toilet paper every year, and re-use those baggies to save $17.33, that will compound into $1.9 billion by the time I retire. Cute, Paul, but phil5185 actually said just the opposite. Save on the big things, and the little stuff like lattes (or squares of toilet paper) are immaterial.
Oh, I know- I'm combining other YMAM advice w/ the phil calculator.
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haapai
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Post by haapai on Jun 17, 2015 23:16:01 GMT -5
Without YM, I'd get along with my coworkers and neighbors a lot better. We'd be sitting around agreeing with each other that having our pay loaded onto a paycheck card instead of direct deposited wasn't all that bad. I'd also get all sorts of advice regarding which landlords to avoid because they were jerks who would start eviction procedures the moment that you were two weeks late with your rent. Thank-you YM, for saving me from that expensive and unsettled lifestyle. I'd be perpetually on my knees without you guys. On the other hand, I sure didn't like you guys at first. The anonymity of the board allows you guys to say things that few people will say to anyone's face and I sometimes wonder about how your reading comprehension seems to take a turn for the worse when the person posting sounds poor or broke. When I first started posting, I had to learn to ignore about three quarters of your posts while evaluating what the fourth person had to say. That's a garbage to "worth-considering" ratio that not many of us are used to having to navigate. In real life, I try really hard to avoid folks who spout garbage even a small proportion of the time, but things are a bit different online. It's a lot easier to wade through garbage on-line than iwhen you are physically in the presence of the person spouting it. And then there's the moment when you realize that the uncensored and uncomprehending comment that you just got on YM is pretty much the same as what is going through the heads of people that you know in real life. That moment is ... motivating, albeit in a dreadful way.
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Chocolate Lover
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Post by Chocolate Lover on Jun 18, 2015 11:38:07 GMT -5
I've learned a lot about what I should do at some point when I don't need every stinking dollar to house/feed/clothe 3 kids. I probably would have made more dumb decisions along the last few years if I hadn't found you guys though, so thanks for keeping my head above water.
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txbo
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Post by txbo on Jun 18, 2015 15:18:32 GMT -5
I've learned that along with the good financial advice comes views from people with an agenda. Learned never to take financial advice from people that have less invested than myself. Learned that everyone lives in their own world and they mostly like it. Learned from Paul that even the most bizarre political views over the years are somehow acceptable and even comical at times. I take some pride that Liz Weston used my financial story for an article about secret millionaires.
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Deleted
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Post by Deleted on Jun 18, 2015 19:49:23 GMT -5
I've learned that along with the good financial advice comes views from people with an agenda. Learned never to take financial advice from people that have less invested than myself. Learned that everyone lives in their own world and they mostly like it. Learned from Paul that even the most bizarre political views over the years are somehow acceptable and even comical at times. I take some pride that Liz Weston used my financial story for an article about secret millionaires.
Hey, I remember when Lena ( whoisjohngalt) was so excited about being the Post of the Day. I would have been, too.
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whoisjohngalt
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Post by whoisjohngalt on Jun 18, 2015 20:53:34 GMT -5
I am sooo vain!
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Jun 19, 2015 8:00:19 GMT -5
Without YM, I'd get along with my coworkers and neighbors a lot better. We'd be sitting around agreeing with each other that having our pay loaded onto a paycheck card instead of direct deposited wasn't all that bad. I'd also get all sorts of advice regarding which landlords to avoid because they were jerks who would start eviction procedures the moment that you were two weeks late with your rent. Thank-you YM, for saving me from that expensive and unsettled lifestyle. I'd be perpetually on my knees without you guys. On the other hand, I sure didn't like you guys at first. The anonymity of the board allows you guys to say things that few people will say to anyone's face and I sometimes wonder about how your reading comprehension seems to take a turn for the worse when the person posting sounds poor or broke. When I first started posting, I had to learn to ignore about three quarters of your posts while evaluating what the fourth person had to say. That's a garbage to "worth-considering" ratio that not many of us are used to having to navigate. In real life, I try really hard to avoid folks who spout garbage even a small proportion of the time, but things are a bit different online. It's a lot easier to wade through garbage on-line than iwhen you are physically in the presence of the person spouting it. And then there's the moment when you realize that the uncensored and uncomprehending comment that you just got on YM is pretty much the same as what is going through the heads of people that you know in real life. That moment is ... motivating, albeit in a dreadful way. Isn't that the truth? I started out a broke-ass E-nothing in the Navy, got out in Kingsland, GA where there were NO jobs- so I got three, and I still could barely keep up with the obligations happily piled on me when I had a steady government paycheck guarantee-- essentially for life if I chose. Sadly creditors know this, and while I cannot back it up with any data, I suspect a good number of re-enlistments in our armed services are attributable to having no immediate solutions to meeting obligations incurred while on active duty. Anyhoo- I was loserville. Bounced checks, late payments- the whole deal. I was angry at everyone but myself until I finally took an honest look at things and resolved that that was NOT going to be my life. Had a few bumps in the road since, but it's all in your attitude and how you deal with things.
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CCL
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Post by CCL on Jun 19, 2015 8:31:44 GMT -5
While we still have a long way to go, finding you guys has helped us to start setting aside for retirement (just over $30k and counting) in the last six or seven years. We also now have life insurance for all of us and a college fund set up for DS. Still paying off debt but getting there and once we do, upping the amount that goes into retirement You guys planted those seeds for us and a huge thank you for that!!! I grew up in a household that struggled along and wasn't stable, water, lights or phones turned off, never anything saved. No one taught me about money or how to manage it so I made a loottt of mistakes early on (still make a few) but without YM, I think we would still be struggling badly. Good for you! It's tough starting out with nothing.
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movingforward
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Post by movingforward on Jun 19, 2015 9:30:07 GMT -5
Well, I just opened my taxable account at Vanguard this morning I would say YM and especially phil had something to do with that!
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phil5185
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Post by phil5185 on Jun 19, 2015 11:26:41 GMT -5
Isn't it funny - just outside the Gate at most any Base, there is a Bar, a PayDay Loan, a We-Finance-Car Lot, and a Pawn Shop. And inside the Gate the E-zeros park their rows & rows of shiny new $60k Big Dually 4-door Diesel Pickups that sport $10,000 worth of wheels/tires, exhaust pipes, and moose bumpers. lol. Like you say - prolly a big factor in re-uping.
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tskeeter
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Post by tskeeter on Jun 19, 2015 13:18:05 GMT -5
Isn't it funny - just outside the Gate at most any Base, there is a Bar, a PayDay Loan, a We-Finance-Car Lot, and a Pawn Shop. And inside the Gate the E-zeros park their rows & rows of shiny new $60k Big Dually 4-door Diesel Pickups that sport $10,000 worth of wheels/tires, exhaust pipes, and moose bumpers. lol. Like you say - prolly a big factor in re-uping. Your observation isn't unqiue to the military. I've made a similar observation about employees in manufacturing plants. The biggest, fanciest, most expensive cars aren't driven by the plant management staff. They're driven by hourly folks who won't be able to make the payments if business drops and their overtime gets reduced by even a little bit. For some, it seems that they expect a financial cycle that has them signing on for lots of payments when the economy is good and they're working all the OT they can stand. When the economy softens and their hours are reduced, they expect the toys to be reposessed. And then when things get better, they go out and sign on for a new set of payments at high interest rates to get the latest version of what was reposessed a couple of years ago. Having your jet ski, 4 wheelers, fancy truck, etc. reposessed is considered a normal and expected part of their lives.
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phil5185
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Post by phil5185 on Jun 19, 2015 13:42:20 GMT -5
Definitely true. But the military leverages it - an E-zero lives in the barracks and eats in the mess hall, two less monthly bills to manage.
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Mardi Gras Audrey
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So well rounded, I'm pointless...
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Post by Mardi Gras Audrey on Jun 19, 2015 15:12:28 GMT -5
YMAM drastically changed my financial life. When I found y'all, I had a few thousands in a savings account and a small Roth and 401k. I was contributing to my retirement accounts and savings but I wasn't putting my money to work for me. After meeting the board, I started leveraging debt (0% cards, low interest loans), got into taxable index funds, and found Vanguard (I was using companies with higher fees before yall). I also started getting all the freebies of new credit cards, maximizing my reward points, and got into couponing (primarily for HBA items). Since joining the board, I went from a few thousand in accounts here and there to where I am today. I think DH and I hit a net worth of 1 Million last week (He doesn't track his accounts so I got "estimates" from him on his retirement accounts). This was with me taking 4 years out of the work force to go back to grad school. Neither one of us made 6 figures until this year (We were both in the military prior to this). We are in our mid thirties so I think we are doing well. We got the house we always wanted earlier this year (we followed the Phil advice and took out a 30 year fixed loan with the lowest possible down payt-Thanks, VA!) and life is looking good
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Jun 19, 2015 23:00:22 GMT -5
Definitely true. But the military leverages it - an E-zero lives in the barracks and eats in the mess hall, two less monthly bills to manage. It is definitely true that these options are available, however we got married young and there was no base housing available- long waiting list. We got a housing allowance instead- from what I'm told, it's just as well. Not a lot of great base housing stories out there.
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tallguy
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Post by tallguy on Jun 21, 2015 10:27:15 GMT -5
Not at all, really. Should I feel bad?
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Deleted
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Post by Deleted on Jun 21, 2015 11:25:31 GMT -5
I went through a long depression awhile back. I think this forum was bad for me. I think it is more geared towards helping successful people and is hard on people who are struggling. My opinion.
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tallguy
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Post by tallguy on Jun 21, 2015 11:46:44 GMT -5
That may depend both on your definition of "struggling" and whether such a person really wants and is ready to be helped. I would agree that many of the posters have very little patience for those who either don't want to take responsibility for what got them into a mess or are unwilling to really confront what it will take to get them out of one....
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Bonny
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Post by Bonny on Jun 22, 2015 13:25:51 GMT -5
That may depend both on your definition of "struggling" and whether such a person really wants and is ready to be helped. I would agree that many of the posters have very little patience for those who either don't want to take responsibility for what got them into a mess or are unwilling to really confront what it will take to get them out of one.... Agreed. There was a time in my early 20s (post University) where I had to acknowledge that what I was doing was not self-supporting despite working three jobs. I was probably in a deep depression and it was all I could do to drag myself to work. Probably the best thing I did was take the risk and follow my boyfriend across country and find a different job. Having a "fresh" start was helpful.
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Deleted
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Post by Deleted on Jun 22, 2015 22:18:07 GMT -5
Phil made me think a little harder about investing and make it simpler for myself, as well as paying attention to fees. Donna Freedman, back in the day, made me realize that we all have points were excessive frugality is necessary and they are good skills to have & teach. You all have reminded me repeatedly to pay attention to assets and re-checking insurance and other costs, not to be one of those consumers that just lets it ride. Gardening Grandma pointed me to Bogleheads for wealth building advice & got me hooked up with the white coat investor too. ALL have reminded me that saving/investing/financial decisions are just part of the journey & to enjoy life a little along the way (hard for me). My mother taught me a lot of lessons, but wealth building was not part of her knowledge transfer That is new to her too! She has benefitted from the Bogle ways also. One small "praise the lord" here that it helped stop her giving money to various whiz-kid investors that did her no good, one of whom called her frantic because he had basically lost ALL of his clients' money, including hers. I read her the riot act and told her if she wants to play like that, assign $50K to each of her kids & make it an investing competition . . . I am sure she would come out better off!! I have enjoyed discussions with people on topics that I might not have otherwise paid attention to. Also seeing the very different opinions and perspectives. I really don't discuss finances, politics, or rights topics with people at work. I'll credit you all with helping get me to early retirement too!
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thyme4change
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Post by thyme4change on Jun 22, 2015 23:13:40 GMT -5
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thyme4change
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Post by thyme4change on Jun 22, 2015 23:15:40 GMT -5
BTW - I would like to publicly apologize for 2010 - 2013. I was a real asshole during that time. Especially here. Thanks for sticking by me. You guys are like family - in that way that my family can't shake me when I am stinking it up. Hopefully I make up for it in the good times. (((especially you - moon/Laura)))
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Deleted
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Post by Deleted on Jun 22, 2015 23:55:43 GMT -5
I think we'd like it best if everyone here was an old millionaire, letting their shit fall apart
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Peace Of Mind
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[font color="#8f2520"]~ Drinks Well With Others ~[/font]
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Post by Peace Of Mind on Jun 22, 2015 23:57:34 GMT -5
BTW - I would like to publicly apologize for 2010 - 2013. I was a real asshole during that time. Especially here. Thanks for sticking by me. You guys are like family - in that way that my family can't shake me when I am stinking it up. Hopefully I make up for it in the good times. (((especially you - moon/Laura))) Can't we have both? I kind of miss your spunky self but I also like your new self. I know my love is unrequited but I can still try.
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joemilitary
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Post by joemilitary on Jun 23, 2015 7:57:30 GMT -5
On the serious this board helped me stay the course and live under my means despite being in a military environment where most spend like crazy (like Phil & WCP have said)
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joemilitary
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Post by joemilitary on Jun 23, 2015 8:30:38 GMT -5
The other less monthly bill for military to manage is health insurance costs.....
The other observation about military despite the shiny cars is a lot of stay at home spouses......sometimes due to lack of jobs in the area but a lot of stay at home spouses that don't seem to want to work......not saying that is wrong......I just think there are a lot more proportion of stay at home spouses in the military than in the real world
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Jun 23, 2015 8:33:08 GMT -5
I went through a long depression awhile back. I think this forum was bad for me. I think it is more geared towards helping successful people and is hard on people who are struggling. My opinion. Well, I'm certainly sorry to hear that. Sometimes you're just in the shit and the answer- which nobody wants to hear is: you're just gonna have to tough it out. Is that what you did? How'd you do it?
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Jun 23, 2015 8:35:58 GMT -5
The other less monthly bill for military to manage is health insurance costs.....
The other observation about military despite the shiny cars is a lot of stay at home spouses......sometimes due to lack of jobs in the area but a lot of stay at home spouses that don't seem to want to work......not saying that is wrong......I just think there are a lot more proportion of stay at home spouses in the military than in the real world This is not to disparage our military, but what I witnessed was as close to "workfare" as anything I've ever seen. Yes, you have to work in the military- at the very least, you have to get up, get dressed, and show up. And wait. And wait. And wait. At worst, you go into combat and you're wounded and you don't make it back. But financially, it's very risky- and everyone and their brother has their eye on your guaranteed paycheck and the knowledge that you basically cannot default or you're in serious trouble and your command will punish you and make you pay. The result is that people end up dependents if they're not careful.
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Jun 23, 2015 8:37:57 GMT -5
And FYI: CURRENTLY only about 22% of married women work outside the home. It's easy to get the impression in densely populated, high taxed, HCOL areas that the whole country is spinning their wheels like that, but a lot of us aren't. It's why (and I never thought I'd say this) I don't miss South Florida. I love the scenery and the amenities, but everyone's too busy. We actually have friends up here that can fish, golf, hunt, and just hang out.
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Bonny
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Post by Bonny on Jun 23, 2015 19:01:03 GMT -5
The other less monthly bill for military to manage is health insurance costs.....
The other observation about military despite the shiny cars is a lot of stay at home spouses......sometimes due to lack of jobs in the area but a lot of stay at home spouses that don't seem to want to work......not saying that is wrong......I just think there are a lot more proportion of stay at home spouses in the military than in the real world I think it's difficult to have a meaningful career if you have to relocate for your spouse every two to three years.
Also as you climb the ladder your spouse is expected to "work" even if they don't get paid. DH had a cousin who was a general. His wife had a more than full-time unpaid job.
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