Mokorider
formerly nosepiker
- 818
- 160
- Joined
- Feb 10, 2006
Any chance we can continue updating this thread? This thread has a lot of amazing info together with the stock market thread. Gotta love the NT fam. 
NT: Official Personal Finances Thread
- 16,003
- 16,650
- Joined
- Apr 16, 2005
Thoughts on credit card or bank account churning?
antidope
Supporter
- 62,464
- 65,385
- Joined
- Jan 2, 2012
Its way too much effort for not enough reward for me honestly.
- 955
- 329
- Joined
- Sep 15, 2012
I’d agree. I pursued it aggressively last year, opening 2 new cards and 2 bank accounts for the sign up bonuses. I probably made about $1000, but it was kind of a bother...especially the bank accounts since I had to change the direct deposit at work multiple times to reach the threshold necessary to reap the bonus.
- 9,025
- 8,118
- Joined
- Mar 10, 2013
We keep separate accounts. I cover more of the mortgage. She usually covers groceries. I cover vacation and most nights out. We split bills evenly.
We also keep separate savings accounts.
- 3,872
- 4,752
- Joined
- Apr 5, 2012
We keep everything together.
antidope
Supporter
- 62,464
- 65,385
- Joined
- Jan 2, 2012
What are some of your guys saving philosophies?
I've already maxed out my 401k on the year and about to max out my IRA in like two weeks. After that it's just dumping money into my PA I don't really put a lot of money into cash.
I've already maxed out my 401k on the year and about to max out my IRA in like two weeks. After that it's just dumping money into my PA I don't really put a lot of money into cash.
- 955
- 329
- Joined
- Sep 15, 2012
Me and my gf of 11 years also keep separate accounts. It works for us because we both have the same career and make approximately the same salary, so we just split mortgage and all other bills evenly and then whatever's left we keep in separate accounts.
I don't think it can work for all couples, especially if one spouse makes significantly more than the other, but for us it's fine.
- 9,025
- 8,118
- Joined
- Mar 10, 2013
If you have a company match, I believe you are leaving money on the table by only getting the company match on a few paychecks as opposed to contributions all year round.
antidope
Supporter
- 62,464
- 65,385
- Joined
- Jan 2, 2012
They match on my salary/bonus at my job, not the contributions so they just take the total comp I got paid last year and give me 4% of that in a lump sum on the 28th of Feb
Last edited:
- 9,025
- 8,118
- Joined
- Mar 10, 2013
Nice. I wish that's how my company did it.
antidope
Supporter
- 62,464
- 65,385
- Joined
- Jan 2, 2012
The way you described is silly, but I've worked somewhere that did it that way. Especially with a retirement account, IMO time in the market is more important than trying to dollar cost average into it cause you're not even getting the tax effect of dollar-cost averaging and you can't touch the money for so long that you're missing out on the compounding effect of the dividends.
- 16,003
- 16,650
- Joined
- Apr 16, 2005
That + index funds/stocks
antidope
Supporter
- 62,464
- 65,385
- Joined
- Jan 2, 2012
My retirement is 100% indexed. Taxable I have a bit of beta but I'm never putting another dollar into it I don't think. Just all single stock and go for the big returns.
- 16,003
- 16,650
- Joined
- Apr 16, 2005
How long does it take you? I opened an account ($750 bonus) earlier this year online that took me rough 20 mins and changing direct deposit takes me like a min to do lol
antidope
Supporter
- 62,464
- 65,385
- Joined
- Jan 2, 2012
Of the one's I've seen they all require you to change your direct deposit which means I gotta get a voided check to give to my employer, and then change my auto debits, its all cumbersome mess.
antidope
Supporter
- 62,464
- 65,385
- Joined
- Jan 2, 2012
I still have things set up the same way. Traditional for the 401k, and Roth for the IRA. Trying to pay the arbitrage game a bit depending on where I retire. If I COULD I would go Roth for both, but $19.5k of Post-Tax money is out of range for me right now.I currently have a Vanguard Traditional IRA, invested only in index ETFs
Spoke withantidope briefly about Roth IRA >>
Is the rule here that Roth is better?
- 11,494
- 7,410
- Joined
- Feb 24, 2009
I’ve been looking at some videos about e FIRE movement. Seems like a lot of people in Canada in particular are doing this.
One interesting technique I saw from a couple that was able to save a large amount of money in a few years was to live off one persons salary and completely save the other persons salary. so as a couple you’re actually saving an entire years salary.
One interesting technique I saw from a couple that was able to save a large amount of money in a few years was to live off one persons salary and completely save the other persons salary. so as a couple you’re actually saving an entire years salary.
- 12,590
- 27,237
- Joined
- Aug 9, 2014
Yo that’s sick you already have your 401k maxed this year. What is PA?
Chopper
my company does the match too and last year I was on the phone with fidelity and was trying to figure out exactly how much to change my contribution % so I’d hit the yearly max contribution on my last paycheck of the year, and the guy said my company will contribute even if I hit my max early. I haven’t verified if that actually happened but it might be worth double checking with ur job if u haven’tSame, I’ve done so many bank deals, it takes a few minutes. I can update my direct deposit self service online so it’s easy.
Also side note my company just started offering Roth 401k so I’m doing that now instead of traditional, I “think” im doing the right thing?
- 16,003
- 16,650
- Joined
- Apr 16, 2005
Roth >>> 401K
I have tried to put on so many people on this. But a lot of people are scared to invest on their own.
Should still contribute at least the max of what your employer will match.
antidope
Supporter
- 62,464
- 65,385
- Joined
- Jan 2, 2012
EHHH IDK. Not only for the simple fact that I'm putting 3 times as much into the 401k, if you pick the right funds, but the cost is also minimal. The S&P fund my 401k offers charges one basis point. That's as free as it gets.
If you're someone who understands the market sure, we're living in zero commission era now so if you're going to go out there and pick single names and shoot for the 10X return by all means. But I feel like most people aren't that for the reason you mentioned. The market is still this mythical thing and every time you turn on CNBC its doom and gloom "The crash is coming, remember the financial crisis" and it scares people.
Even I still had my IRA indexed for quite a while, but I'm about to start managing it myself again.
- 5,920
- 3,565
- Joined
- Feb 23, 2006
Companies do that in hopes to not give you money. My job is fully vested from day one, but the 5% matching is at the end of the year. So if you quit before the end of the year, they don’t owe you a contribution.
antidope
Supporter
- 62,464
- 65,385
- Joined
- Jan 2, 2012
My first job had a three year vesting period. Its all scumbaggery.
