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EdLaFave

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  1. Scott, here is a shorter Minecraft version of that video:
  2. Probably an unpopular take, but Amazon is a dumpster fire from a user experience perspective. When I search for products: I consistently get results that in no way match my query; this is a well solved problem in computer science. I consistently get results that I'm not allowed to buy because I don't have Prime or Pantry or whatever other package they sell. I don't believe they allow you to sort on a price/unit basis. They also don't show you the all in cost of buying something....some include shipping while others hide the cost of shipping until checkout. I understand the barrier to entry is extremely high, but what a weakness in their system. It's shocking. ...also, no human being could ever need more than a couple million and no human being has ever done something that is "worth" billions and those who have come closest were definitely not paid billions.
  3. I’m struggling to think of a lie bigger than the economy awards hard work with money. I promise you every time I got a higher paying job, it requires less work. The wealth distribution in America is a result of political choices we started making in the 70s that hurt working people. It isn’t complicated. ...and somebody with 2.8M who doesn’t consider themselves to be rich and thinks by consolidating even more wealth they’ll be helping everyday people, do we really need to hear anything that person has to say on wealth? Completely out of touch.
  4. You have to do what is comfortable for you. I'll show you how safe I think it is. With this information folks could give me pretty specific answers to financial questions: Basics Status: Single Emergency funds: 2 months in cash. Tax Bracket: 22% federal, 0% state State of Residence: Florida Age: 36 Current Retirement Assets Portfolio Size: $1,025,000 Asset Allocation: 70% Total Domestic, 30% Total International, 0% Bonds Taxable: 75% of portfolio Traditional Accounts: 20% of portfolio Roth/HSA Accounts: 5% of portfolio Funds Available Taxable/IRA/HSA: Anything Employer 401k: Vanguard index funds for small, mid, and large cap domestic stocks. Everything else is expensive. Contributions = $105,000/year Taxable: $71,450 Traditional 401k: $24,000 Roth IRA: $6,000 HSA: $3,550
  5. Can you please list the following information: What is your desired asset allocation? How much money do you have to invest per year? What accounts do you currently have? How much is in each account? What funds are available in each account? What about a spouse and their answers to these questions? Do you mix finances? That'll really help.
  6. If I didn't already give you this link, I'd recommend you read the Investing 101 page I wrote. It gives you 90% of what you need to know in a few short pages.
  7. Scott almost certainly said that for the same reasons I said what I said about it. As a general rule, people buying stocks accept the volatility in exchange for larger expected returns over the long run. As a general rule, people use bonds to smooth out that volatility, knowing it will reduce their expected returns, because they know their personality would fold under the pressure of their portfolio dropping by 50% in a crisis. This bond fund is invested in "high yield" bonds, which means it invest in bonds (i.e. loans) that are more likely to never be paid back. The flip side of that coin of course is that the interest on those bonds are higher to compensate for the risk. Ultimately these funds behave much more like stocks than a traditional bond fund. I wouldn't say high yield bond funds are garbage. Just like people want to hold international stocks in addition to domestic stocks, maybe it makes sense to diversify by also holding high yield bonds. However, if you want to own high yield bonds then you definitely shouldn't be viewing them as a "safe" investment the way you traditionally view bonds.
  8. First, the quality and the specificity of the responses I can offer are directly related to your willingness to provide a full picture of your finances: What is your desired asset allocation? List all of your accounts. How much money is in each account? What funds are available in each account? How much do you invest per year? If there is a spouse involved then all of their information is relevant to varying degrees depending on whether you mix finances or not. If you provide limited information then it really hamstrings our ability to give great suggestions and insight. Second, I'm getting the impression that you really need to take the time to understand the basics of investing. I'm happy to explain it all, but I'm getting the sense that you're wanting to move forward in ignorance...and that's fine I guess because I can give you great input if I have the necessary information, but if I were you, I'd take the time to understand this stuff. Third, you're moving forward without investigating the Charles Schwab option. I think that's a significant mistake. Unless of course, you plan to get things in order within this plan and then look into Schwab and possibly go through a second round of restructuring. That's fine I suppose even though it wouldn't be my approach. Annuities are basically always good things to get out of. By moving your funds from an annuity/bonds to a pure stock fund, you've significantly increased the risk of your portfolio. This isn't inherently good or bad because it depends on your psychology. However, this underscores the importance of understanding what you're doing before making changes and the importance of picking out your asset allocation, which is absolutely critical. The plan you're in only has two bond funds and they're both more expensive than I think is fair, but that doesn't mean they should be dismissed outright. The BlackRock bond fund is referred to as "high yield," another name for that is often "junk bonds" and you can think of it as being "risky". You can see here that it lost almost as much money as the Vanguard stock fund did last year. I'm not saying that you should or shouldn't own that fund, but I am saying that you should believe this is a safe fund. The Pimco bond fund on the other hand contains bonds with much better credit ratings, I would consider this to be a bond fund that provides safety in bad times. I don't know what this means. I don't know what "them" is? Maybe the bond fund and annuity? I don't know what you mean when you say the asset % were small. I don't know what you're referring to as safe. Generally speaking you want your assets with the highest expected return to be in your Roth accounts because that growth won't be taxed when you pull it out. I've already commented on the Blackrock fund and steering away from a financial advisors advice is generally a good thing. However, I want to push you towards the idea that your decisions should be made based on you and sound investment logic. Again, this goes back to your desired asset allocation and knowing your complete financial picture would help. If you want international then paying 0.53% for it is high, but still worth considering. However, you may be way better off using your IRA to purchase an international fund that charges between 0% and 0.11% to meet your desired international asset allocation. Also, I don't think this fund includes developing markets, which is what the other fund has. So if you wanted to maximize your international diversification you may want to own both. I'd have to take a closer look. I can't answer this without knowing about your other accounts and your desired asset allocation. The only thing I can say is that this would give you an account with the lowest possible costs, no bonds, and no international exposure.
  9. All you really need to know: Minimize your spending so you can maximize your investing. Abandon the notion that you or anybody else can predict and therefore outperform the market in the long term. Understand that stocks can drop by 50% very quickly, pick a bond percentage that will stop you from behaving foolishly during a crash. Know that stocks have the higher expected return. Total market index funds give you diversification at rock bottom costs, which are the two keys to successfully picking funds. You can own three individual total market index funds (bonds, domestic stocks, international stocks). Alternatively you can own an all in one fund, which internally holds those individual funds (see target date funds that get more bond heavy over time or LifeStrategy funds that keep the same asset allocation over time). Max out tax advantaged accounts first (IRA, 401k, 403b, 457b, etc.) and then put the rest of the money in a taxable account. Whenever you have extra money, invest it regardless of what the market is or isn't doing. It really isn't rocket science. Tony is 100% right.
  10. The general answer to this question is always now. When you buy or sell a mutual fund you have to get the order in by 4 PM eastern, if you do the transaction will close based on prices at the end of the day.
  11. EdLaFave

    YTD Report

    Ooof, isn't that the truth. I'd argue his accomplishments are greater than any president in modern/post-world war history, but I don't know how to reconcile that with Vietnam. It's maddening.
  12. I haven't heard of it, but it's in my queue now. Thanks.
  13. EdLaFave

    YTD Report

    If you're talking about the progress from the 60s, we can't diminish that progress, but you're absolutely right. Our school system likes to teach us that Dr. King fought for and won the battle against racism so we can just wash our hands of that. They don't teach us that desegregating buses was only the tiniest step in King's vision and was part of a long history of white folks doing the bare minimum, but never putting their money where their mouths are. His philosophy clearly stated that bigotry, economic inequality, and militarism are the three interlocking evils that must be dismantled. In the last year of King's life he gave a speech entitled America's Chief Moral Dilemma, which everybody should read in its entirety, but here is a great excerpt: With respect to the job not being done, I'd also recommend these two clips that came toward the end of his life as well:
  14. EdLaFave

    YTD Report

    Absolutely. Let me turn this on it’s head a little bit. I’m a white guy, but more than that I believe passionately in fairness and morality. There isn’t a monument you could construct that would make me feel more excluded and alienated in a public space than a monument to a confederate.
  15. EdLaFave

    YTD Report

    Arguing for monuments to traitorous white supremacists because it is art 🙄. They invaded a foreign land, exterminated the “savage” natives, and enslaved and brutalized an entire race of people in order to line their pockets and prop up their false sense of superiority. As if that weren’t enough, they were so committed to the expansion (not just maintaining the status quo, expanding on it) of this barbaric way of life that they were willing to start a bloody civil war over it. I only wish the “violence” in which these monuments are being destroyed could mirror the violence the monuments celebrate. Give the autobiography from Frederick Douglass a read, seriously. Absolutely disgusting.
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