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Talking stocks, trading, and investing in general

jbarwick

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You know how I know i have become a grown adult with an unencumbered discretionary budget?

I just got home from Target and I have no idea how much money I spent. Really didn't even pay attention. Based on the amount of stuff in the bag I'd have to guess it is somewhere between 20 and 100...

Weird feeling.

Also, they literally had zero kinds of cereal on sale. Bullshit.
I've only started to feel this way in the past year. I mean I still show up to Kroger with a couple coupons but otherwise I have stopped worrying too much. As long as the monthly CC bill is in check, how that itemizes and worrying about it causes more harm than good.
 

imatlas

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Lets talk life insurance. I'm starting to feel a hint over-insured: I have the usual term coverage through work, plus a rider that brings it up to enough to cover the remainder of our mortgage. We also have a joint protection whole life plan for $100K that we bought when we first got married. I worked for the insurance company at the time, and even then I knew that whole life is the most expensive way to buy insurance, but I got the employee discount off the first year's premiums.

I've got enough term insurance through work to cover our mortgage; we've got significant savings and my wife has a fairly well paying job with very good career prospects. Given that, the whole life plan is really just an additional cushion in case I get laid off or to give her an extra leg up if I die. If we still want or need that extra cushion, I would almost certainly be better off canceling the whole life plan and buying term, but i'm not sure we even need the extra insurance at all.

Any opinions? For those that have it, do you have a hefty amount of life insurance, just enough, or not enough to cover the minimum your family might need?
 

jbarwick

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We have term insurance on each of us to cover the mortgage then are paid enough to cover other expenses. Don't think we would ever pay for whole life and at some point term doesn't really make sense either.

I think you mentioned you were approaching 50 so from a retirement savings standpoint, you should be well on your to funding 2 retirements and if one of you kick the bucket early, it should be easy to fund a single persons retirement.
 

Piobaire

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I mean I still show up to Kroger with a couple coupons but otherwise I have stopped worrying too much.
Mrs. Piob is always clipping coupons. We also watch for sales and buy in quantity for future needs. Like if pork is on sale really cheap I'll buy enough for a couple batches of sausage and just freeze until I'm ready to use. The beef shanks simmering into demi right now were bought as a "manager's special" and tossed in the freezer, I save wing tips from butchering my own wings (bought on sale of course,) and stuff like that. It's more a habit than a need I guess.

Life insurance...we bought 20 and 30 year term policies on a couple of occasions. Back when things were tight we bought 250k on each of us for 30 years (will expire in our early 60s.) Then as our incomes increased we just would buy a new policy when we felt it was needed. When we bought the Piob Palace seven years ago we took out enough to cover the mortgage...which is now moot. The last policy was 250k on me alone through my former place. It follows me even though I've left and will expire at my age 70.

So we basically layered on term as we felt needed and are not buying anymore at this point as the policies expire.
 

jbarwick

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He has been VC investing for quite a while. I will say I was shocked when I heard that as rappers usually go bankrupt.
 

usctrojans31

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Covers a lot of what has already been discussed, but interesting nonetheless.
 

jbarwick

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I forget how everyone here categorizes their HSA. Do you consider it a retirement asset since it can be invested or as another category? Trying to figure out how to look at the $7,100 we will contribute to our HSA next year. This year since I only contributed a couple thousand, I left it to the side but since we lose our Roth IRA ability next year, I am focusing on the HSA.
 

otc

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I have never drawn on my HSA, but I'm also not doing the insane "save your receipts for 30 years" thing to totally maximize the retirement benefit.

If I had major medical expenses, I wouldn't be against pulling money, but I haven't been using it for ordinary expenses.
 

lawyerdad

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He has been VC investing for quite a while. I will say I was shocked when I heard that as rappers usually go bankrupt.
You can't go bankrupt VC investing?
 

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