There's lots of shitty open source software that fills the YNAB niche, like gnucash but I get it.
Used both gnucash and kmymoney for a while as I went through my window manager phases. But like a number of things open source they.. just required too much fiddling. 🤣
(And their security practices seem sound, they're not trying to roll their own systems from scratch or anything dumb like that)
life's a game that you're bound to lose / like using a hammer to pound in screws
fuck up once and you break your thumb / if you're happy at all then you're god damn dumb
that's right we're on a fucked up cruise / God is dead but at least we have booze
bad things happen, no one knows why / the sun burns out and everyone dies
Honestly most SaaS companies don't want any part in your data - it's a liability nightmare.
They want high level stats and a continuous stream of money to keep their dev team employed. That's more reliable than one time purchases and potentially packaging expansions while figuring out compatibility testing etc.
This way they have one version and it's entirely web hosted.
So I totally didn't get around to refinancing because of all the craziness that broke out in the past week and now it seems like rates went back up again? 3.625 which is exactly the same as my current mortgage. C'est la vie.
"Simple, real stupidity beats artificial intelligence every time." -Mustrum Ridcully in Terry Pratchett's Hogfather p. 142 (HarperPrism 1996)
So like...someone last week definitely put a month long put on Telsa when it hit all time highs and holy shit they must be making lots of money.
From February 26th
*sigh*
2 weeks ago my coworker was saying she was buying SQQQ (triple short ETF)
If I was smart I shoulda sold some stock and bought that and doubled my money
But I was not
Riding the wave
Oh it will be painful
I was looking at that at one point, too, but I remember they do some weird thing where they level adjust each day, so it's not like you see a %50 drop in the market over three weeks that you'd get a 200% rise in the stock price.
My 403b was already showing a pathetic rate of return from last year. Don't know why, I took all their advice for investment. Meanwhile my wife's retirement account was invested 100% in "Social Choice" which the dude from TIAA said wouldn't get decent returns at all (probably due to mansplaining) She ended up with nearly 9% growth last year. Of course it's all probably gone now.
DisruptedCapitalist on
"Simple, real stupidity beats artificial intelligence every time." -Mustrum Ridcully in Terry Pratchett's Hogfather p. 142 (HarperPrism 1996)
My 403b was already showing a pathetic rate of return from last year. Don't know why, I took all their advice for investment. Meanwhile my wife's retirement account was invested 100% in "Social Choice" which the dude from TIAA said wouldn't get decent returns at all (probably due to mansplaining) She ended up with nearly 9% growth last year. Of course it's all probably gone now.
So, I was considering starting a 401K but am I correct in assuming that I should wait on that until the market stops hurtling into the abyss?
If you make purchases every paycheck that means you're buying more shares per dollar every other week while the market is going down. So now is the best time to start buying into stocks.
If you're going to lump sum it, try and break your overall amount into quarters or eighths and buy up that amount every Wednesday for a month or two in order to dollar cost average things. You may miss some drops, but you also will miss some spikes and it should balance out well enough. Since you can't tell the bottom until it's already passed.
It's a cliche (more about rising markets) but it's true:
The best time to get in the market was yesterday. The second best time to get in the market is today.
We paid off a credit card with money that was used to set up a family trip to Nashville in April. Airlines gave us fucking credit instead of refund though (then the have the audacity to ask for a bailout).
@Quid you're in TSP, right? What are your allocations, if you don't mind?
We paid off a credit card with money that was used to set up a family trip to Nashville in April. Airlines gave us fucking credit instead of refund though (then the have the audacity to ask for a bailout).
Quid you're in TSP, right? What are your allocations, if you don't mind?
I've got it all in commercial. Which sucks at the moment but I've got at least three more decades before I even consider touching it.
The Lifecycle funds aren't bad per se but IMO as a non finance professional they tend to run conservatively for such a long period of time.
I agree. I'm split between C, S, and I. I have some in G from a while ago but I'm not actively contributing more.
I'm genuinely worried that people are moving money into G right now and basically cementing their losses.
====
It's interesting because this is the first financial 'crisis' in over a decade, so people's tolerance for major market drops / volatility are finally being tested.
Mugsley on
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thatassemblyguyJanitor of Technical Debt.Registered Userregular
So, I was considering starting a 401K but am I correct in assuming that I should wait on that until the market stops hurtling into the abyss?
@Madican - as everyone else here is saying, starting a 401K is a great idea even today because of dollar-cost averaging, however there is one important thing to remember (not to put you off to any 401K stuff, but it's important to remember this in times of recession/depression):
Don't invest money you'll need in the short-term 0 months - 3 years; for 401K don't invest money you'll need before you're 67.5 years old.
By need, I mean money that you'll need to use to cover minimal living expenses, food, shelter, health-care premiums, etc.
So timing market, not timing market, just remember to make sure you're not locking money away into an investment vehicle where accessing those dollars can hurt you long term, or accessing those dollars causes you to take a loss when you didn't want to take a loss.
My 403b was already showing a pathetic rate of return from last year. Don't know why, I took all their advice for investment. Meanwhile my wife's retirement account was invested 100% in "Social Choice" which the dude from TIAA said wouldn't get decent returns at all (probably due to mansplaining) She ended up with nearly 9% growth last year. Of course it's all probably gone now.
...if you were flat in 2019 ahead of all this, you have the dumbest advisor on the planet. TIAA has some total market indexes, just use those.
@a5ehren I agree with you but I'm trying to keep from making assumptions. If DC has a very conservative risk tolerance, it would make sense he was relatively flat (that being said, nearly everyone made money last year, so shrug.jpg).
Again, with that being said, the investment choices should change to take more advantage of the market.
Yeah, I don't really know what happened. I haven't worked at that job since 2016 and I think last I checked I was invested in the total market indexes. I've been meaning for a while to go over it and figure out what went wrong but now I'm just afraid to even see the damage.
"Simple, real stupidity beats artificial intelligence every time." -Mustrum Ridcully in Terry Pratchett's Hogfather p. 142 (HarperPrism 1996)
Yeah, I don't really know what happened. I haven't worked at that job since 2016 and I think last I checked I was invested in the total market indexes. I've been meaning for a while to go over it and figure out what went wrong but now I'm just afraid to even see the damage.
Ooh. If it's a previous job, I'm curious if there's some weird policy that they sit all your money in stable value or "cash" after you leave, unless you direct them to do otherwise. That would explain the lack of returns, but not why in God's name they have that policy.
So, I was considering starting a 401K but am I correct in assuming that I should wait on that until the market stops hurtling into the abyss?
@Madican - as everyone else here is saying, starting a 401K is a great idea even today because of dollar-cost averaging, however there is one important thing to remember (not to put you off to any 401K stuff, but it's important to remember this in times of recession/depression):
Don't invest money you'll need in the short-term 0 months - 3 years; for 401K don't invest money you'll need before you're 67.5 years old.
By need, I mean money that you'll need to use to cover minimal living expenses, food, shelter, health-care premiums, etc.
So timing market, not timing market, just remember to make sure you're not locking money away into an investment vehicle where accessing those dollars can hurt you long term, or accessing those dollars causes you to take a loss when you didn't want to take a loss.
I did drop some money I didn't need in to my mutual fund Friday. That's probably the closest I've ever come to gambling.
This Quid over here trying to catch a knife. (I put more money into the market too, my hands are bloooddy)
Yeah, that's something I'm weighing since while my job is steady even during this time, I want to get further north eventually and that costs money in itself.
I haven't checked the details but it looks like part of the stimulus bill includes being able to pull from a 401k without penalty.
It's still not advisable but worth considering if you're experiencing severe hardship.
I'll try to reply back when I get more info.
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ChanusHarbinger of the Spicy Rooster ApocalypseThe Flames of a Thousand Collapsed StarsRegistered Userregular
it would be a terrible time to do it with the market in the tank and you can take out loans against your 401k without penalty as long as you pay it back right?
it would be a terrible time to do it with the market in the tank and you can take out loans against your 401k without penalty as long as you pay it back right?
If you lose your job, it is all suddenly due at next tax payment date (so max 1 year), and there are penalties if you fail to pay it back at that point.
The info I can find is that you can make a hardship withdrawal up to $100k without the 10% penalty, and you can spread the tax hit across 3 tax years.
Apparently they will let people who withdrew funds this way but didn't need the money to re-deposit the money without penalty; but the details on that are hazy.
There are some changes to 401k loans as well but I can't find a lot of details. I think the borrowing limit is higher/removed but there's still an interest rate to pay.
Alright. I've been trying to write this post for a while and the verbiage keeps going in circles in my head. So let's start here. Here's a graph of running percentage of TSP balance with 3/2/2020 as the 100% reference point: https://imgur.com/a/UBhTH7p
(Excel is being a bitch and won't post dates on the X axis, so that's day number (i.e. 3/2/2020 is Day 1)).
This is VERY high level. All I did was take daily balance numbers, so there were contributions added along the way.
First off: note that the worst balance decline was a total ~25% decline round about 3/23/2020. The past ~10 days, I've been floating around the 90% level, and I had another scheduled contribution today.
Big takeaway: if you changed NOTHING through all this, your investments should nearly be recovered at this point. The caveat of course is it depends on your allocations. I actually have a fairly aggressive distribution (I'm 42 and have 11% fixed income, 14% Small Cap, 22% International, 52% "Common Stock" (basically US Stocks)). My regular contributions are 50% US Stocks, 20% Small Cap, 30% International (the fixed income portion is what I already had in the account and haven't added to it for a few years now).
I have more to say but I want to go eat first.
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Gabriel_Pitt(effective against Russian warships)Registered Userregular
Well, I just cashed in my life insurance policy, which is a shit tonne less than if I had faked my death and collected it myself, 'please pay full benefits to my dear... Uh son, Pabriel Gitt.' But will also mean if things go pear-shaped I will have a safety net until I can get back on my feet.
If nothing else, it means I can keep my IRA fully funded for the next few years.
Alright. I've been trying to write this post for a while and the verbiage keeps going in circles in my head. So let's start here. Here's a graph of running percentage of TSP balance with 3/2/2020 as the 100% reference point: https://imgur.com/a/UBhTH7p
(Excel is being a bitch and won't post dates on the X axis, so that's day number (i.e. 3/2/2020 is Day 1)).
This is VERY high level. All I did was take daily balance numbers, so there were contributions added along the way.
First off: note that the worst balance decline was a total ~25% decline round about 3/23/2020. The past ~10 days, I've been floating around the 90% level, and I had another scheduled contribution today.
Big takeaway: if you changed NOTHING through all this, your investments should nearly be recovered at this point. The caveat of course is it depends on your allocations. I actually have a fairly aggressive distribution (I'm 42 and have 11% fixed income, 14% Small Cap, 22% International, 52% "Common Stock" (basically US Stocks)). My regular contributions are 50% US Stocks, 20% Small Cap, 30% International (the fixed income portion is what I already had in the account and haven't added to it for a few years now).
I have more to say but I want to go eat first.
TSP I'm thinking of (maybe you are thinking if something else?) has about a dozen different funds you can choose to put money in. If that's your personal balance it only reflects whichever funds you have picked.
Posts
Used both gnucash and kmymoney for a while as I went through my window manager phases. But like a number of things open source they.. just required too much fiddling. 🤣
Origin ID: Discgolfer27
Untappd ID: Discgolfer1981
Or I guess if they are, they're lying about it.
(And their security practices seem sound, they're not trying to roll their own systems from scratch or anything dumb like that)
fuck up once and you break your thumb / if you're happy at all then you're god damn dumb
that's right we're on a fucked up cruise / God is dead but at least we have booze
bad things happen, no one knows why / the sun burns out and everyone dies
They want high level stats and a continuous stream of money to keep their dev team employed. That's more reliable than one time purchases and potentially packaging expansions while figuring out compatibility testing etc.
This way they have one version and it's entirely web hosted.
I'm still not changing anything but, man....
From February 26th
*sigh*
2 weeks ago my coworker was saying she was buying SQQQ (triple short ETF)
If I was smart I shoulda sold some stock and bought that and doubled my money
But I was not
Riding the wave
Oh it will be painful
I was looking at that at one point, too, but I remember they do some weird thing where they level adjust each day, so it's not like you see a %50 drop in the market over three weeks that you'd get a 200% rise in the stock price.
I was at like 180k around New Year's.
I'm not looking for another five years.
Come Overwatch with meeeee
This is fine,
I had 25% growth last year.
Wheeeee!
Don't try to time the market.
(yes)
If you make purchases every paycheck that means you're buying more shares per dollar every other week while the market is going down. So now is the best time to start buying into stocks.
If you're going to lump sum it, try and break your overall amount into quarters or eighths and buy up that amount every Wednesday for a month or two in order to dollar cost average things. You may miss some drops, but you also will miss some spikes and it should balance out well enough. Since you can't tell the bottom until it's already passed.
Whatever you have to tell yourself to get into the market at a reasonable allocation, really.
The only problem is how do you tell when it's done hurtling into the abyss?
You should start your 401k, and you should make regular contributions/purchases.
The best time to get in the market was yesterday. The second best time to get in the market is today.
I had been planning on travelling for three weeks in April.
Boo to not being able to go on my trip.
But, eh, yay to having a fair amount of cash that was allocated for spending money on the trip that is now going to go into my TFSA?
@Quid you're in TSP, right? What are your allocations, if you don't mind?
I've got it all in commercial. Which sucks at the moment but I've got at least three more decades before I even consider touching it.
The Lifecycle funds aren't bad per se but IMO as a non finance professional they tend to run conservatively for such a long period of time.
I'm genuinely worried that people are moving money into G right now and basically cementing their losses.
====
It's interesting because this is the first financial 'crisis' in over a decade, so people's tolerance for major market drops / volatility are finally being tested.
@Madican - as everyone else here is saying, starting a 401K is a great idea even today because of dollar-cost averaging, however there is one important thing to remember (not to put you off to any 401K stuff, but it's important to remember this in times of recession/depression):
Don't invest money you'll need in the short-term 0 months - 3 years; for 401K don't invest money you'll need before you're 67.5 years old.
By need, I mean money that you'll need to use to cover minimal living expenses, food, shelter, health-care premiums, etc.
So timing market, not timing market, just remember to make sure you're not locking money away into an investment vehicle where accessing those dollars can hurt you long term, or accessing those dollars causes you to take a loss when you didn't want to take a loss.
This Quid over here trying to catch a knife.
...if you were flat in 2019 ahead of all this, you have the dumbest advisor on the planet. TIAA has some total market indexes, just use those.
Again, with that being said, the investment choices should change to take more advantage of the market.
Ooh. If it's a previous job, I'm curious if there's some weird policy that they sit all your money in stable value or "cash" after you leave, unless you direct them to do otherwise. That would explain the lack of returns, but not why in God's name they have that policy.
I don't know enough about the market to even try timing it.
Yeah, that's something I'm weighing since while my job is steady even during this time, I want to get further north eventually and that costs money in itself.
It's still not advisable but worth considering if you're experiencing severe hardship.
I'll try to reply back when I get more info.
If you lose your job, it is all suddenly due at next tax payment date (so max 1 year), and there are penalties if you fail to pay it back at that point.
Apparently they will let people who withdrew funds this way but didn't need the money to re-deposit the money without penalty; but the details on that are hazy.
There are some changes to 401k loans as well but I can't find a lot of details. I think the borrowing limit is higher/removed but there's still an interest rate to pay.
(Excel is being a bitch and won't post dates on the X axis, so that's day number (i.e. 3/2/2020 is Day 1)).
This is VERY high level. All I did was take daily balance numbers, so there were contributions added along the way.
First off: note that the worst balance decline was a total ~25% decline round about 3/23/2020. The past ~10 days, I've been floating around the 90% level, and I had another scheduled contribution today.
Big takeaway: if you changed NOTHING through all this, your investments should nearly be recovered at this point. The caveat of course is it depends on your allocations. I actually have a fairly aggressive distribution (I'm 42 and have 11% fixed income, 14% Small Cap, 22% International, 52% "Common Stock" (basically US Stocks)). My regular contributions are 50% US Stocks, 20% Small Cap, 30% International (the fixed income portion is what I already had in the account and haven't added to it for a few years now).
I have more to say but I want to go eat first.
If nothing else, it means I can keep my IRA fully funded for the next few years.
TSP I'm thinking of (maybe you are thinking if something else?) has about a dozen different funds you can choose to put money in. If that's your personal balance it only reflects whichever funds you have picked.
https://www.tsp.gov/InvestmentFunds/FundsOverview/index.html
https://www.tsp.gov/InvestmentFunds/FundPerformance/index.html