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We just hit 100k in Ally which is one one hand amazing, on the other... Some opportunity cost vs brokerage. I'm curious what y'all do with long term savings goals in brokerage. I love buckets and allocations in Ally. Is there some simple equivalent to virtual buckets in a brokerage? Even if it's a spreadsheet. Tracking cost basis of percentages of contributions sounds like a nightmare and I don't want it to become some giant slush fund. Or brokerage is Fidelity btw
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Feb 22, 2024 18:05
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TraderStav posted:I'd be more comfortable pulling someone local from NAPFA (National Association of Personal Financial Advisors) than Instagram. If this person is associated with NAPFA and you like them from following their gram, then all the better. LanceHunter posted:I'm also extremely suspect on the "we sell no products" line. This feels way too much like the beginning of a sales funnel that will eventually have someone trying to get you to buy some annuity product. TraderStav posted:I think this is likely innocent. Coming from that industry a decade or so ago, the sale of products and misaligned incentives for advice was sooo bad, planners are super explicit of all the things that they don't do to assure people that the hourly rate covers the clients needs and not their own. The 'gram account is very transparent, which is why I like to see their content. He has a small team (2 other people) and shares how much money they make, and where it goes. Not trying to sell them, they just seem quite genuine. All their posts are signed: "As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often." For the record, they-the people running the instagram account-are not doing the advising. They are using freelance independent fiduciaries.
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Feb 22, 2024 21:18
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this trick from the recent state of the forums thread is so incredibly neat, I want to make sure BFC is aware of it:Pragmatica posted:something like this already kind of exists: https://forums.somethingawful.com/forumdisplay_all.php?forumid=1 also, yeah, there's a state of the forums. check it out.
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Feb 23, 2024 02:37
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pmchem posted:this trick from the recent state of the forums thread is so incredibly neat, I want to make sure BFC is aware of it: That is loving awesome. It reminds of GBS level traffic from years ago.
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Feb 24, 2024 22:22
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I'm kind of late to this, but can anyone recommend a replacement to Mint now that it's something different and worse? I just want a place to look at my various cc's + bank account to view all my spending, be able to put transactions in (sometimes custom) categories and check it all rolled up against a budget for those categories at the end of the month.
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Mar 19, 2024 20:37
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I've been using Monarch and it's very similar, but definitely more user friendly. Though they allow importing of all your previous transactions and rule mapping to make them fit new categories, don't be surprised if your month-to-month cash flow prior to import looks out of whack, for example. My mortgage sometimes showed up as positive net worth and other times negative in certain months, so everything pre-import needs to be taken with a grain of salt. They normally had a 7 day trial, but see if the code MINT50 meant to intice Mint converts gives you 30 days instead and 50% off your first year.
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Mar 20, 2024 04:56
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Ditto. My only complaint with Monarch so far is that it lacks a widget on the home screen for credit card transactions. It's what I used to use to monitor potential fraud.
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Mar 20, 2024 15:01
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Maybe a weird question, but does anyone have a bank recommendation that they have had positive experiences with for business accounts? The business I work with is currently at Bank of America and it's basically the worst thing in the universe so I am trying to get together some better recommendations before I talk to my boss about making a huge move.
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Mar 20, 2024 15:30
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hallo spacedog posted:Maybe a weird question, but does anyone have a bank recommendation that they have had positive experiences with for business accounts? The business I work with is currently at Bank of America and it's basically the worst thing in the universe so I am trying to get together some better recommendations before I talk to my boss about making a huge move. The best small business banks are typically your mid size regionals, so it's going to depend on where you are. These are also the banks holding the paper on all the commercial properties around your local area so maybe now's not the best time to switch.
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Mar 20, 2024 15:34
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hallo spacedog posted:Maybe a weird question, but does anyone have a bank recommendation that they have had positive experiences with for business accounts? The business I work with is currently at Bank of America and it's basically the worst thing in the universe so I am trying to get together some better recommendations before I talk to my boss about making a huge move. This is going to be strongly dependent on the services your business needs/seeks as well as what is being provided for free (or with refunded fees) by the current bank. Does the business need vault access, do they need analysis services, treasury management, etc. If it's just a matter of having business activities in an otherwise retail account with the business EIN then you're gonna have a hell of a lot more options. It's never bad to keep an eye out for better options though.
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Mar 20, 2024 17:12
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There's at least one credit card / bank sending me card offers in the mail with an incorrect middle name. I'm worried there's some weirdness in my credit report somewhere, but last time I tried to get my report from the 3 bureaus through annualcreditreport.com, only 1 gave it to me electronically while the other 2 said I needed to send in all this PII via insecure snail mail to confirm my identity. No thanks. I got a few of these misnamed offers a year or two ago and forgot about them, but got a new one again last week and want to actually fix the issue now. How can I get this cleared up? I have an uncommon name, so it's unlikely this is a case of mistaken identity and more likely a clerical error, but I don't even know where this error supposedly exists.
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Mar 20, 2024 18:18
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Yeah annualcreditreport doesn't work for me either. What I do is I have an account at experian.com and sign up for the 7 day trial to get all 3 reports. Then I immediately cancel the trial. For some reason they have offered me a 7 day trial every single time I log on. I cancel the trial immediately after signing up. I've done this for months and months now and I've never been charged. You have to do this on a computer to get the trial.
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Mar 20, 2024 18:55
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SpelledBackwards posted:There's at least one credit card / bank sending me card offers in the mail with an incorrect middle name. I'm worried there's some weirdness in my credit report somewhere, but last time I tried to get my report from the 3 bureaus through annualcreditreport.com, only 1 gave it to me electronically while the other 2 said I needed to send in all this PII via insecure snail mail to confirm my identity. No thanks. Longshot, but are you using Firefox or another "weird" browser? I've found that I need to use chrome without an ad blocker on, or I get a similar error.
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Mar 20, 2024 22:34
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What's y'alls ratio of retirement:investments:cash? I got curious and looked at mine and was quite surprised: 90% retirement/8.7% investments/1.3% cash. I feel like my cash should be a bit higher than it is
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Mar 20, 2024 23:08
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We’re at about 83% retirement/9.5% investment/7.5% cash, assuming investment doesn’t include rental property equity.
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Mar 20, 2024 23:20
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67% Retirement 28% Investment 5% Cash % of Cash could go lots of ways depending on your age and how much you have in retirement, X number of months of living expenses is the usual way to talk about it.
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Mar 20, 2024 23:24
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Cacafuego posted:We’re at about 83% retirement/9.5% investment/7.5% cash, assuming investment doesn’t include rental property equity. I think you should absolutely include rental property in investments!
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Mar 21, 2024 00:07
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This is a confusing breakdown. Are your retirement assets not invested?
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Mar 21, 2024 00:39
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Cacafuego posted:We’re at about 83% retirement/9.5% investment/7.5% cash, assuming investment doesn’t include rental property equity. Baddog posted:I think you should absolutely include rental property in investments! I'm not including property in my calculations, but rental property is a different beast. Maybe a fourth category? Xenoborg posted:67% Retirement I feel like this is a better ratio for me. I'm early 40s, but I've pretty much been contributing to my 401k and little to investments until recently. Cash is rough because we save up for things, spend it on those things, and start over. I'll also note that this is my personal cash accounts, not our joint checking, joint savings, or joint emergency fund. Ralith posted:This is a confusing breakdown. Are your retirement assets not invested? Good point. I look at it like retirement is for when I stop working in my late 60s/early 70s; investments are for 5-15 years from now, and cash is 1-5 years.
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Mar 21, 2024 00:42
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94% retirement 3% emergency fund 3% cash oops?
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Mar 21, 2024 01:01
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i like nice words
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how are you guys pulling those numbers.. do you already have all your assets in a spreadsheet.. should i be doing that..? i was actually going to bring this up since i haven't done this yet..
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Mar 21, 2024 01:07
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I'm interpreting "retirement" as "tax advantaged." Given that, I have something like 86% retirement accounts/9% taxable/5% cash. This is from my spreadsheets at the beginning of the year so I expect the cash portion to be a little lower now.
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Mar 21, 2024 01:50
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Strong Sauce posted:how are you guys pulling those numbers.. do you already have all your assets in a spreadsheet.. should i be doing that..? It's work, but I update the spreadsheet every month to feel like I'm staying on top of everything.
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Mar 21, 2024 02:46
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Baddog posted:It's work, but I update the spreadsheet every month to feel like I'm staying on top of everything. I do the same. as of March 1... Cash = 7.17% Retirement = 73.16% Taxable (Investment) = 19.67% (this is really for retirement though)
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Mar 21, 2024 03:32
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Strong Sauce posted:how are you guys pulling those numbers.. do you already have all your assets in a spreadsheet.. should i be doing that..?  that seriously. I definitely do not gently caress with any manual spreadsheets
Anne Whateley fucked around with this message at 04:39 on Mar 21, 2024 |
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Mar 21, 2024 04:37
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Grumpwagon posted:Longshot, but are you using Firefox or another "weird" browser? Yeah, I was using Firefox with an ad blocker last time I tried, so maybe that was it. I used a bare Chrome instance like you suggested just now and was able to get all 3 reports. None of them have any incorrect names listed for me, so maybe it's just this one provider. Still not sure how to suss it out or get it corrected in someone's system. Maybe I can contact the company making the CC offer. But obviously it's someone I don't have an existing relationship with, since they have my name wrong. Fake edit: the latest thing was a savings account offer, not a credit card offer. Hmm, that might be new.
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Mar 21, 2024 05:24
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Anne Whateley posted:I don’t brain that much (obviously) but I only have 3 accounts, so I just added 3 numbers and divided over the total. I also rounded for easier math due to not taking 
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Mar 21, 2024 12:44
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I've got a super rough spreadsheet that has estimated values so I can get an idea of our net worth. I listed my paid-for home as an investment as I don't have non-retirement fund investments: Cash 19.23686573 Investment 28.5015056 Retirement 52.26162867 Yes, we have too much in cash. I also have a business account that has a surplus that will eventually turn into cash (bonus paid to me) in the short term as well. Off topic: We're in a perpetual state of paralysis looking for a bigger house/considering rennovations to our current house but the market sucks here (very few options for sale) and having met with a contractor already, rennovation costs are absurd. We're meeting with an architect next month to get some formal rennovation plans, but it's likely we will just do nothing as we're expecting the quotes to not be worth it to us. But at least we'll have the plans.
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Mar 21, 2024 15:01
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I don't track my cash that is not in an emergency fund as that's just the bills etc revolver, but that's probably like... 4% on any given day? 10% HYSA emergency fund 32% short term and mid term taxable investments 54% retirement 3% HSA
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Mar 21, 2024 15:16
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17% tax advantaged 82% investment (include my primary resident equity in here as well) 1% cash/equivalents
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Mar 21, 2024 21:33
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I found out that a company I worked at previously is IPOing. I have like ~20k share options that I have vested and exercised shortly before I left. I know there's been several rounds of funding since, and thus, the % I own of the company has been diluted, but does that mean that once the lockup period is over, I am able to sell all ~20k shares on the open market? I have friends still at the company saying that they were thinking the total number of employee shares will get dropped by 5-10x because of dilution (i.e., I will only have 2-4k shares), but that doesn't seem right.
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Mar 22, 2024 21:24
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just_a_person posted:I found out that a company I worked at previously is IPOing. I have like ~20k share options that I have vested and exercised shortly before I left. I know there's been several rounds of funding since, and thus, the % I own of the company has been diluted, but does that mean that once the lockup period is over, I am able to sell all ~20k shares on the open market? I have friends still at the company saying that they were thinking the total number of employee shares will get dropped by 5-10x because of dilution (i.e., I will only have 2-4k shares), but that doesn't seem right. Depends on how it's run. You're going to get diluted, but usually that's through them issuing more shares, not dividing yours.
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Mar 22, 2024 21:35
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An a lot of annswers to a lot of questions is going to be in the equity agreement you signed when exercising those options. I'd suggest you go find it.
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Mar 22, 2024 21:39
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Baddog posted:Depends on how it's run. You're going to get diluted, but usually that's through them issuing more shares, not dividing yours. Yeah, that's what I thought. Motronic posted:An a lot of annswers to a lot of questions is going to be in the equity agreement you signed when exercising those options. I'd suggest you go find it. Thanks. I'll try and find it and dig it up. Talking to people, it seems like it's a reverse split before the IPO event. I think that makes more sense and might completely screw over every employee at the company. I'm so glad/grateful the negotiation thread told me salary over stock now!
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Mar 22, 2024 21:48
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just_a_person posted:Yeah, that's what I thought. Why would a reverse split "completely screw over" anyone? 10 shares worth $1 each is the same thing as 5 shares worth $2 each.
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Mar 22, 2024 21:50
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Motronic posted:Why would a reverse split "completely screw over" anyone? 10 shares worth $1 each is the same thing as 5 shares worth $2 each. I guess they feel screwed over in the sense that they thought they were going to be millionaires overnight since the company had issued a lot of stock. I left ~50k options on the table because I left early. I was told that if an IPO happens, average price would be ~10-15 so maybe 500-750k. I didn't realize (and many of the other employees) didn't take into account that a reverse split could/would occur to get to that price. I know during my time there management never talked about it, just about the number of shares issued. This was the first company that I and many of the current employees ever worked at that IPO'ed but I finally understand how all this math works. It makes me realize that the stock options I have now at my new pre-IPO company is decent, but not a six figure payout (200k shares, but total exercise price is 100k at ~$0.50 a share). EDIT: I realize now that the misconception is pretty pervasive. The recruiter for my current company told me that I would get large equity (~200k shares) and if they IPO, the shares would be worth $10-15 each. Either he doesn't know how it works (possible, but I assume it's a recruiter's job to know about compensation) or he knows most people with little industry experience doesn't know how it works, which is probably true because everyone at my first company was all from academia and it was their first industry job. just_a_person fucked around with this message at 22:16 on Mar 22, 2024 |
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Mar 22, 2024 22:08
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just_a_person posted:....or he knows most people with little industry experience doesn't know how it works, which is probably true because everyone at my first company was all from academia and it was their first industry job. Yah it's this unfortunately. You can sometimes negotiate to get the class of shares with more rights (try to get the same class that the founders have, hah). But yah they are banking on you being "I have 200,000 shares and stock usually trades in the 20-100 range, I'm gonna be so loving rich". Sad trombone noises when it ends up being worth 20k. Still, better than nothing. All my pre-ipo shares are toilet paper.
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Mar 22, 2024 23:45
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Baddog posted:Yah it's this unfortunately. You can sometimes negotiate to get the class of shares with more rights (try to get the same class that the founders have, hah). Yeah, I guess what threw me off was my original strike price was ~ 0.10 cents when I first joined (employee #7). By the time we hit second round of funding, our valuation went to ~$1.50 a share but I left at that point before those matured. I figured that by the time the company IPO'd the growth of the company would hit ~$10 a share, but I guess the company valuation after the series C/D never increased in value, hence the estimated 10x reverse split to get $15 price. My friends that stayed were working miserable hours/conditions and getting constantly abused by management, all in the hopes for a massive payout after 3-4 years, and in the end, all they got was maybe 80k pre-tax?. I really dodged a bullet, and I got to give my thanks to Motronic and others in this forum because I think he cautioned me about salary versus options 4-5 years ago in the negotiation thread when I asked about it. I very rarely go to this forum but it's probably had more impact in my career/life the any other place here on SA. just_a_person fucked around with this message at 04:58 on Mar 23, 2024 |
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Mar 23, 2024 04:46
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This is likely posted all over a credit card churning thread, but Chase updated the categories for bonus 'pay yourself back' to include 'Wholesale' and 'Pet Supplies'. Not the most min-max way to spend your points but it's not bad either.
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Apr 8, 2024 22:54
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Started at a company working salary coming up on two years ago. Employment contract has no definite hours listed, just a motto to follow saying "we do whatever it takes". I averaged 48 hours/week in '23, and in two years earned a single sub-$2k bonus. I'm mostly doing back-office work, setting up projects and running budgets, occasionally on-site project management. Ownership has me clocking in on an app that tracks my location. I'm typically working from home. On the heels of two 70-hour weeks, one on-site and one doing project reviews with ownership, I'm taking some time to stay with family, work remote out of my region and check out the eclipse. I'm up to date on all my tasks and projects. Ownership found out and is livid that I clocked out at 2 yesterday, "had no idea" what I was doing or where I was, even though my manager had approved my schedule in January and put it on the company calander. Just today am getting in writing what my expected work hours are and how many hours I'm expected to put in per week. "10 hours a day, 50 hours a week", and "ask around for other tasks to do for others" if my workload happens to be less that week. I've been a team player, I help others out all the time, put out fires, and I stay late when I'm needed to complete project reviews with ownership. (Sometimes they don't get around to working with me til noon or so, which of course pushes my day back when the job has to ship by Close of Business.) Friday, I had to wait and hold an hour while my boss talked to a painter working in his house. A few weeks before that, he tried starting up a 4-hour project review at 4:30pm, earlier he'd been at the airport switching out his long-term car rental. I had to be out the door by 5:45, and basically had to hang up on him. I put in a time-off request for a date 6pm-midnight the following week, and was told to knock that poo poo off. So, anyway, this expectation that salaried employees work a minimum of 50 hours a week while getting paid a strict 40 strikes me as abusive. Especially when it's back-office work that can be planned around, especially when I'm working late due to ownership's personal errands/vacations, and then yelled at when I try and make my own plans after business hours. What say you, Goons? Is this something I should put up with or fight?
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Apr 10, 2024 00:59
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