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  4. EdLaFave

    Fire Savers Race To Retirement

    I read his first 3 or 4 posts where he spoke from two different personas (MMM and the Skeptic). I fully understand he is trying to be an interesting showman and intentionally outrageous. I just don’t like it. I like my finances the same way I like my physics, math, and science. Teach me the facts, explain why it is useful, and show me how to apply it. If you attempt to play on my emotions (especially without thoroughly arguing/proving the facts), promise the world, or present yourself as some kind of savior...then I’m instantly going to dislike you and not trust you. It’s a hardwired physiological response. I also believe he is wildly out of touch with the circumstances of tens of millions (maybe more) of Americans. In the Playing With Fire trailer he said he accidentally built a cult. After reading those posts it seems hardly accidental. He seemed destined to be ignored or develop a cult like following...his presentation didn’t allow for many other outcomes. These quotes illustrate why I feel this way.. You will suddenly be able to fly freely through the world, free from having to work for a living, able to start living life as you choose, doing exotic things like spending time raising your young children, taking a 3-week vacation each month, or just enjoying understated shows of leisure like sweeping your driveway in pajamas at 11am on a sunny Thursday morning. Everyone can do it. But most people think they can’t because they’re still stuck in the Matrix. They blame “the economy” or other external factors, when really the only problem is they aren’t listening hard enough to Mr. Money Mustache. But there also a fine line between staying afloat and rising up quickly to become very wealthy. What if the person breaking even above found a way to save $10 a day instead of spending $25 more than she made each month? Even if you work in Wal-Mart, you make more money than I did, you get to walk around in a huge fancy store, and you can save almost everything you earn if you don’t get ridiculous and waste it all.
  5. Retirement is the #1 financial worry with 65% of Americans worried about it and a majority thinking about it 4 times per week. The core problem is uncertainty - people have no idea how much they need, because we have created a system around building assets instead of income. https://www.forbes.com/sites/stephenchen/2018/12/06/why-retirement-is-broken-and-needs-to-be-reinvented/#7feae4aa47cc
  6. More Pros and Cons about retiring early and some possible roadblocks https://www.marketwatch.com/story/heres-why-you-shouldnt-retire-super-early-even-if-you-can-2018-08-30
  7. tony

    Potential crash?

    Having lived through two major crashes I can tell you it does effect your emotions and you naturally feel like you need to do something. In my case it made me realize that 75% of my portfolio was in tech stocks!!. I had to get out and I did but I moved the funds to more diversified funds but still stayed in stocks. The second great recession taught me a lesson that I should have some money in bonds because even though bonds are boring they add some protection in downturns. Every correction large or small leaves us with a lesson to take forward. I learned a diversified portfolio is important, not just high flying stocks.I also learned that If you are patient, and do nothing ,you are more likely to come out ahead. Just keep investing. I know I repeat but younger folks will be tested if the market turns South in a major way. FIRE advocates might wonder what the heck went wrong. I say time is on your side if you stick to your ultimate goal. Unfortunately, some folks will flip out and start selling out of fear and that could make things worse short term for everybody. Regardless , mathematical calculations might not come out quite like you expect because the market is unpredictable as are people. My prediction is above in a previous post. I think the disappointing earnings reports and tariff uncertainty are definitely messing with people's minds . I think a recession is inevitable sooner or later but I think we still are O.K. Thank God I listened to John Bogle and kept my international's stock allocation low ( under 20%) because the stocks overseas are hurting much more. Everyone else out there was recommending a very high allocation to international stocks. P.S. Most money currently is being pulled out of bonds in droves. I wonder how smart that is at the moment.
  8. EdLaFave

    Potential crash?

    One of the metrics I keep track of is my profits. I’m down 80k from my high watermark and I’m psychologically preparing to lose another 100k during 2019. If we hit a downturn I’ll be studying the emotional affect it has on me. So far I feel nothing about losses as long as I think about them in terms of dollars. However, if I think of losses in terms of how it affects my FIRE date (assuming a 5 year decline/recovery cycle), then I feel some real negative emotions. It’ll be an interesting ride and I look forward to seeing what affect a potential recession has on other investors. I will be staying the course simply because there isn’t another viable option.
  9. krow36

    W. Scott Simon M* 403(b) articles found!

    Thanks very much Steve! Simon is a professional ERISA lawyer who writes columns for Morningstar. There are several on 403b problems that include a long interview with Steve.
  10. MoeMoney

    Fire Savers Race To Retirement

    MMM has extreme tendencies. Any reason in particular why you disliked his blog, Ed?
  11. tony

    Potential crash?

    Thinking makes it so. I say Nope . And if I am wrong, I say so what?
  12. sschullo

    Potential crash?

    We have all planned for growth and downturns. Stick with your plan no matter what.
  13. EdLaFave

    Potential crash?

    Took a quick glance at the market and we are in correction territory. I guess we will find out soon enough if we are heading towards bear market territory. If you believe in such things, the shiller p/e is a shade above 29, which is historically high and gives us plenty of room to fall. Once again, I feel like we are in the beginnings of a downturn.
  14. Hi krow36 Couldn't find the thread where you asked me about Mr. Simon's terrific articles. Here they are: https://www.morningstar.com/articles/902822/scott-simon-article-archive.html Steve
  15. sschullo

    Fire Savers Race To Retirement

    They are hoping for a January or February release.
  16. EdLaFave

    Fire Savers Race To Retirement

    Today is the first time I read MMM’s blog and I was surprised by just how much I disliked it. Now I understand some of the people criticizing FIRE. I’m looking forward to that FIRE documentary though. @sschullo, any idea when that is coming out?
  17. sschullo

    Vets come in, help the rookies

    Hey Dustin!!! What is your problem! :- ) LOLs! Making $80.00 an hour and TIPS driving boats as a summer job! Wow!!!! That's great. Seriously, for me, I was at one school for 14 years (out of the four different schools I taught plus UCLA extension), and I needed a change. I was the computer lab teacher and classroom teacher. It was very refreshing to me to have an outside the classroom position for a few years and then go back into the classroom, made me a better teacher. But we all know teachers who have taught the same grade, same subject, same classroom, same school for 30-40 years and still are passionate and enthusiastic. THAT'S NOT ME! I love change, and I get passionate and excited about change, because I got out of my comfort level and met new teachers, new principals, new schools. That's exciting for me, but I know it isn't for everybody, most people do not like change.
  18. tony

    Fire Savers Race To Retirement

    https://tribunecontentagency.com/article/retirement-a-visit-with-mr-money-mustache/
  19. DustinVoss

    Vets come in, help the rookies

    Actually got "invited to submit a resume and interview" for a position with the district that was opening up. The strong indication was that if I wanted the job, it was mine. I would have been over the district's Civics curriculum responsible for revisions and providing professional development. In considering everything, I turned it down. The biggest reason is that I'm deeply committed to the school I teach and the specific community I serve, but the fact that very few people stick in central office gigs and that I would be giving up summers (where I make as much as $80/hr+tips driving boats) Thanks again steve
  20. Another article on Millennial Spending and Saving Habits . https://www.theatlantic.com/ideas/archive/2018/12/stop-blaming-millennials-killing-economy/577408/
  21. Another Fire Article. Don't think its been posted recently but If its a repeat please don't hold it against me. Also a visit with Money Mustache in the second link https://www.kiplinger.com/article/retirement/T047-C000-S002-young-fire-savers-race-to-retirement.html https://tribunecontentagency.com/article/retirement-a-visit-with-mr-money-mustache/
  22. sschullo

    Vets come in, help the rookies

    I also taught on Saturdays and evenings at UCLA extensions educational technology for teachers seeking their credentials. I just did a Googled on side gigs for teachers and came up with the list below. Perhaps somebody else would offer addtional ideas. 33 Legitimate Ways Any Teacher Can Make Extra Money https://www.weareteachers.com/ways-teachers-can-make-extra-money/ Apr 19, 2018 - 33 Legit Ways Teachers Can Make Extra Money. Sell your lesson plans. Teacher Pay Teachers has changed the way teachers get and share content. Try tutoring online or in-person. Write an eBook. 4. Make money by flipping furniture. Sell your stuff. Buy and sell designers brands. Become a picker. Drive for Uber or Lyft. The 15 Best Side Hustles for Teachers - Side Hustle Nation https://www.sidehustlenation.com/best-side-hustles-for-teachers/ Dec 4, 2017 - Here are the best ways for teachers and educators to make extra money ... have time to spare, babysitting would be a good side gig to consider. The Best Side Hustles and Summer Jobs for Teachers https://www.thebalancecareers.com › ... › Job Searching › Job Listings › Part-Time Jobs Aug 24, 2018 - If you're looking to earn more money this summer, here are the perfect opportunities for you. Tutor. You're already great at educating. Camp Counselor. One job that is always in fashion in the summer is the role of camp counselor. Tour Guide. Freelance Writer. Babysitter. Online Teacher. Brand Ambassador. 20 Modern Ways For Teachers to Make Extra Money in 2018 | Bored ... https://www.boredteachers.com/teaching.../ways-for-teachers-to-make-extra-money Jan 31, 2018 - It's not only a clever way to earn some side cash, it's a time-saver (and ... online is a fun way for teachers to earn extra money while doing what they do best, .... those looking to make some extra income around their day jobs. 30 Side Jobs For Teachers That Are Online | The Money Making ... moneymakingteacher.com/30-side-jobs-for-teachers-that-are-online/ Mar 13, 2018 - After seeing countless people asking what kinds of side jobs are for teachers, I decided to compile a list that would allow you to work part-time ... 12 Ways to Make Money on the Side as a Teacher | Edudemic www.edudemic.com › Articles Oct 20, 2015 - Let's take a look at some of the best approaches out there. (Note: We've chosen to focus on jobs that will directly call on your skills as a teacher, ... Best Side Hustles for Teachers to Make More Money During the ... https://millennialmoneyman.com/best-side-hustles-for-teachers-to-make-more-money-... May 3, 2018 - These are the best online side hustles for teachers and anyone who: ... This gig is flexible, makes a decent income, and impacts lives across ... 12 Side Hustles Perfect for Teachers to Earn Extra Money - Wallet Hacks https://wallethacks.com/teacher-side-hustles/ Oct 23, 2018 - For many educators, a side hustle is a must because many areas don't pay ... The best part is that you can often get paid in cash or turn it into ... it all depends on your writing ability, skills, and the gigs you're able to secure. Eight Perfect Side Gigs for Educators | Education World https://www.educationworld.com/eight-perfect-side-gigs-educators What if a job for supplemental income actually led to better lessons, free meals ... Today, Education World shares a variety of side gigs that are just perfect for the ... Any opportunities with you admin credential? My story of how I got my tech coaching position. I gave one of my many 3 minute public talks to the Board of Education over the 403(b) plan. This one time my future boss was in the audience and heard my talk and he offered me the tech coaching position in the hall right after the talk! I interviewed with him several times before but never offered me the job. He said that I now understood the bureaucratic "system". My talk was about the 403(b) and he was right that I really understood the system, but had nothing to do with educational technology!
  23. DustinVoss

    Vets come in, help the rookies

    Thanks Steve! All over #1 and #2 already and I support these claims. Regarding #3, care to post example?
  24. sschullo

    Vets come in, help the rookies

    1. Take approved for credit/salary point workshops to increase your salary to the top of the scale. 2. Get your admin credential. It widens your opportunities for out of the classroom positions. I got it not to be a principal, but two out of the classroom positions. Technology coach and Title 1 coordinator, which increased my salary. It took me one year to get my admin credential assuming you already have a masters degree. 3. Look around for different blogs that offer opportunities for side gigs to replace those opportunities that have dried up. There are thousands and thousands of blogs.
  25. DustinVoss

    Vets come in, help the rookies

    I'm 12 years deep in my career which means that I've worked the great recession, the expansion that followed, and the austerity imposed by pension mistakes of the past and pension hawks in the present. On top of all this, demographics have been shifting. There are less school-age children overall and specifically fewer in my "target demographic" here in Chicago. I'd like to hear from some vets with 20, 30, 40 years how you think about getting the work when it is available. Certain years, I've been able to stack almost 20gs on top of my salary teaching Saturday and evening school, homebound, incentive/club/sports programs, paid pd, etc. This year its getting a bit better for for the past 3 years most of those opportunities have dried up, and I've stacked less than 5g on top of my salary with extras. I know some of you advocate moving to where the money's good... but some of us are deeply tied to our communities or families and the cost of moving away is not worth anything we might be paid. So I'm curious from the vets. How do you think about extra opportunities? Certainly I worked like an insane person in my 20s and I sacrificed a lot (no vacations, missing overseas trips with my friends, sacrificing some meaningful relationships) but it is that sacrifice that has me living the relatively comfortable life now, on track to retire a multi-millionaire.
  26. Earlier
  27. sschullo

    Why Aren't Millenials Spending More?

    Yep, not having any to spend was my young adult experience 100%, and Wow! That was a HUGE blessing in disguise. I practiced frugal living while growing up and in my entire life.
  28. In a different article which I won't post, the tuna industry was blaming the decline of tunafish sales on millenials because they don't own can openers. I guess the baby boomers spoiled everyone with their spending habits and now its time to return to reality? Opening Excerpt From Article below: Since millennials first started entering the workforce, their spending habits have been blamed for killing off industries ranging from casual restaurant dining to starter houses. However, a new study by the Federal Reserve suggests it might be less about how they are spending their money and more about not having any to spend. https://www.npr.org/2018/11/30/672103209/why-arent-millennials-spending-more-they-re-poorer-than-their-parents-fed-says?utm_source=pocket&utm_medium=email&utm_campaign=pockethits
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