Financial Wizards - GoFuckYourself.com

Barefootsies · 09-09-2008, 07:32 AM

I had an interesting discussion this morning, but it got me thinking on online folk.

Are you saving for retirement? If so, are you just doing your traditional 401k? Or are you living your life, and not really worried about tomorrow. You know you are working online, love your job, and have no plans to retire?

Furthermore, do you have life insurance, or just keep money in the bank which is basically the same thing. Putting $20/50/100k away in a saving account, or CD, and using that like your life insurance.

Just curious. I am in those second examples.

Barefootsies · 09-09-2008, 07:37 AM

This question obviously applies more to....

1. Unmarried.
2. No kids.

stickyfingerz · 09-09-2008, 07:43 AM

Im good I've got my enron stock.

BlackCrayon · 09-09-2008, 07:51 AM

I'm relying on hitting it big one day..lol. Seriously though I don't know what I am going to do. I am only 30 so I still have time to figure it out I guess. I don't have any plans to retire per say, as long as I can make a living online at least. I put money away in RRSP's but the interest on those doesn't amount to much.

slapass · 09-09-2008, 07:56 AM

I have som cheap term life insurance. Look into it on line as it is

I also own rental property commercial and residential.

Barefootsies · 09-09-2008, 08:00 AM

I hear ya. I am only 35.

The GF still works back at AT&T, and is coming up on her 20 years. She has a lot of people in her office that are 35, 40 years into the company, and no plans to retire. But, they keep touting themselves as a financial wizard.

I worked in telco for a spell, and there is no way in hell I could have done 20, or 30 years of that. We had got into a discussion about how most of society spends their life chasing a retirement carrot, and then do not get to enjoy it.

You are not promised a healthy life in your retirement years, IF, you make it 'til then. So you spent your life chasing that carrot that you never get to enjoy. Versus... you spend responsibly, but you travel, buy what you want, enjoy life. Get a job you enjoy, and never retire.

But you get to spend 30-40 years of your life enjoying. If you croak out early... 40/50/60. So what?

You lived a full life.

fatfoo · 09-09-2008, 08:05 AM

bump bump bump bump

oceania · 09-09-2008, 08:09 AM

i own my house and have life insurance
but am hardly set
with all my bills i better work until i drop dead

Suede2 · 09-09-2008, 08:10 AM

The only financial wizard I know is my ex gf who managed to make my money disappear in ways I couldn't even dream off.

In fact just last I managed to lose £40 by looking after her 2 kids for 3 hours and then buying the 3 of them dinner when she got back...

Barefootsies · 09-09-2008, 08:12 AM

Quote:

Originally Posted by Suede2

The only financial wizard I know is my ex gf who managed to make my money disappear in ways I couldn't even dream off.

TheDoc · 09-09-2008, 08:34 AM

You can buy a Whole life insurance polity, a big one, pay on it for a period of time. Then you can borrow against half the amount of the life policy, paid back when you die. Find an insurance company that does this, rather than getting a bank loan - which works too.

Anyone that is a single owner (no employees nobody else on payroll) you can invest up to $45k a year (rather than just $15k a year in 401k). Taxes split up a bit different, but you can still get some serious benefits. Like dividend payments, rolling over to IRA for Gold.

I'm for sure no expert, I pay someone for that knowledge.

pornguy · 09-09-2008, 08:38 AM

I have a wife and a kid. We save and have some investments also have life policies.

RayBonga · 09-09-2008, 08:57 AM

Quote:

Originally Posted by Barefootsies

I hear ya. I am only 35.

The GF still works back at AT&T, and is coming up on her 20 years. She has a lot of people in her office that are 35, 40 years into the company, and no plans to retire. But, they keep touting themselves as a financial wizard.

I worked in telco for a spell, and there is no way in hell I could have done 20, or 30 years of that. We had got into a discussion about how most of society spends their life chasing a retirement carrot, and then do not get to enjoy it.

You are not promised a healthy life in your retirement years, IF, you make it 'til then. So you spent your life chasing that carrot that you never get to enjoy. Versus... you spend responsibly, but you travel, buy what you want, enjoy life. Get a job you enjoy, and never retire.

But you get to spend 30-40 years of your life enjoying. If you croak out early... 40/50/60. So what?

You lived a full life.

You should read that 4 hour work week book, I think you would like it

Barefootsies · 09-09-2008, 02:18 PM

Quote:

Originally Posted by RayBonga

You should read that 4 hour work week book, I think you would like it

I keep hearing about it....

09-09-2008, 07:32 AM	#1
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	Financial Wizards I had an interesting discussion this morning, but it got me thinking on online folk. Are you saving for retirement? If so, are you just doing your traditional 401k? Or are you living your life, and not really worried about tomorrow. You know you are working online, love your job, and have no plans to retire? Furthermore, do you have life insurance, or just keep money in the bank which is basically the same thing. Putting $20/50/100k away in a saving account, or CD, and using that like your life insurance. Just curious. I am in those second examples. __________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"

09-09-2008, 07:37 AM	#2
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	This question obviously applies more to.... 1. Unmarried. 2. No kids. __________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"

09-09-2008, 07:51 AM	#4
BlackCrayon Too lazy to set a custom title Join Date: Jun 2003 Location: Ottawa Posts: 19,631	I'm relying on hitting it big one day..lol. Seriously though I don't know what I am going to do. I am only 30 so I still have time to figure it out I guess. I don't have any plans to retire per say, as long as I can make a living online at least. I put money away in RRSP's but the interest on those doesn't amount to much. __________________ you don't know you're wearing a leash if you sit by the peg all day..

09-09-2008, 08:00 AM	#6
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	I hear ya. I am only 35. The GF still works back at AT&T, and is coming up on her 20 years. She has a lot of people in her office that are 35, 40 years into the company, and no plans to retire. But, they keep touting themselves as a financial wizard. I worked in telco for a spell, and there is no way in hell I could have done 20, or 30 years of that. We had got into a discussion about how most of society spends their life chasing a retirement carrot, and then do not get to enjoy it. You are not promised a healthy life in your retirement years, IF, you make it 'til then. So you spent your life chasing that carrot that you never get to enjoy. Versus... you spend responsibly, but you travel, buy what you want, enjoy life. Get a job you enjoy, and never retire. But you get to spend 30-40 years of your life enjoying. If you croak out early... 40/50/60. So what? You lived a full life. __________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"

09-09-2008, 08:05 AM	#7
fatfoo ICQ:649699063 Industry Role: Join Date: Mar 2003 Posts: 27,763	bump bump bump bump __________________ Send me an email: [email protected]

09-09-2008, 07:43 AM	#3
stickyfingerz Doin fine Industry Role: Join Date: Oct 2005 Posts: 24,984	Im good I've got my enron stock.

09-09-2008, 07:56 AM	#5
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,625	I have som cheap term life insurance. Look into it on line as it is I also own rental property commercial and residential.

09-09-2008, 08:09 AM	#8
oceania Confirmed User Join Date: Nov 2003 Location: on the web Posts: 547	i own my house and have life insurance but am hardly set with all my bills i better work until i drop dead __________________ Radio Dentata - 24/7 internet radio - Uncensored, sexy, informative. Covering B2B and B2C weekly shows. you can follow us on twitter: @radiodentata

09-09-2008, 08:10 AM	#9
Suede2 Registered User Join Date: Jul 2008 Posts: 81	The only financial wizard I know is my ex gf who managed to make my money disappear in ways I couldn't even dream off. In fact just last I managed to lose £40 by looking after her 2 kids for 3 hours and then buying the 3 of them dinner when she got back... __________________ Make shitloads of cash with you own dating/personals site visit World Dating Partners

09-09-2008, 08:34 AM	#11
TheDoc Too lazy to set a custom title Industry Role: Join Date: Jul 2001 Location: Currently Incognito Posts: 13,827	You can buy a Whole life insurance polity, a big one, pay on it for a period of time. Then you can borrow against half the amount of the life policy, paid back when you die. Find an insurance company that does this, rather than getting a bank loan - which works too. Anyone that is a single owner (no employees nobody else on payroll) you can invest up to $45k a year (rather than just $15k a year in 401k). Taxes split up a bit different, but you can still get some serious benefits. Like dividend payments, rolling over to IRA for Gold. I'm for sure no expert, I pay someone for that knowledge. __________________ ~TheDoc - ICQ7765825 It's all disambiguation

09-09-2008, 08:38 AM	#12
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	I have a wife and a kid. We save and have some investments also have life policies. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!