Sage Advice & Pearls of Wisdom

[GoBills808]

always split 9s except against dealer's 10

[Don Otreply]

On 7/9/2023 at 11:34 AM, Augie said:

Experiences > Things.

 

We are taking our 9 year old grandson to NYC next weekend. We will see the Harry Potter play, have dinner in Central Park (Tavern on the Green), take the ferry around the Statue of Liberty, see the view of the Chrysler Building and Manhattan skyline from the wife’s office, etc. It would be much less expensive to buy him one of the toys he’s so eager to have, the toys that will be forgotten in a month. His first trip to the Big Apple will stay with him a lifetime. 

 

 

.

A fine idea, and you are correct, he will remember it all his life, 👍

[Saxum]

13 is a lucky number.  Most will not pick that number so your odds are higher of winning and likely less splits with others.

[Don Otreply]

Carry as little debt throughout your life as possible, and pay it ALL off long before you retire. 

[ExiledInIllinois]

"If you are going to make a coffee cake, take the time to plump your raisins and roast your walnuts."  ~My MiL

2 minutes ago, Don Otreply said:

Carry as little debt throughout your life as possible, and pay it ALL off long before you retire. 

Maybe... But:

 

https://www.marketwatch.com/story/many-young-people-shouldnt-save-for-retirement-says-research-based-on-a-nobel-prize-winning-theory-11664562570

 

Just:

"New research based on the life-cycle model says that people should strive for a consistent standard of living through their lives"

 

[coloradobillsfan]

On 7/9/2023 at 8:23 AM, Nextmanup said:

Huh, I've always thought dragging children to adult related "vacation" things is an utter act of futility.  The kids make it miserable for all the adults around them, most parents do not properly parent their children in public spaces any more, at least not in this country, and the kids, if small enough, are going to remember NOTHING of the trip.  I.E., please keep them out of adult cultural point of interest destinations.

As someone who has visited Yellowstone over a dozen times, and has watched countless bored-out-of-their-minds children throwing objects into the delicate natural hot springs, I wholeheartedly agree.

 

I'll add a bit of knowledge that I only recently came to understand:  Everyone knows (or should know) that we have the right to remain silent when questioned by police.  But what not everyone knows is that you have to INVOKE your 5th amendment right by expressing this is what you are doing.  If you don't, your silence CAN be used against you in court. 

[Augie]

11 minutes ago, coloradobillsfan said:

As someone who has visited Yellowstone over a dozen times, and has watched countless bored-out-of-their-minds children throwing objects into the delicate natural hot springs, I wholeheartedly agree.

 

I'll add a bit of knowledge that I only recently came to understand:  Everyone knows (or should know) that we have the right to remain silent when questioned by police.  But what not everyone knows is that you have to INVOKE your 5th amendment right by expressing this is what you are doing.  If you don't, your silence CAN be used against you in court. 

 

Well, THAT is a little tidbit that I hope never comes in handy!    😋

[Don Otreply]

40 minutes ago, ExiledInIllinois said:

"If you are going to make a coffee cake, take the time to plump your raisins and roast your walnuts."  ~My MiL

Maybe... But:

 

https://www.marketwatch.com/story/many-young-people-shouldnt-save-for-retirement-says-research-based-on-a-nobel-prize-winning-theory-11664562570

 

Just:

"New research based on the life-cycle model says that people should strive for a consistent standard of living through their lives"

 

  Anyone who believes that steaming pile of …, let me put it like this, “a fool and his/her money is soon parted” 
 

   We, many years ago payed off all our debt, “saved” our money and retired  “early”.  
 

The knowledge and feeling of not working for anyone but yourself is nearly indescribably freeing. I highly recommend it. 

[ExiledInIllinois]

1 hour ago, Don Otreply said:

  Anyone who believes that steaming pile of …, let me put it like this, “a fool and his/her money is soon parted” 
 

   We, many years ago payed off all our debt, “saved” our money and retired  “early”.  
 

The knowledge and feeling of not working for anyone but yourself is nearly indescribably freeing. I highly recommend it. 

We're you able to do the things you wanted to when you were young and more healthy? Than... I guess it worked for you. 

 

BUT, only to save and deprive yourself when you are still young and relatively healthy is a bummer. Why they are saying live a consistent standard of living throughout your life.  There will be no regrets. Can't take it with you. 

[Don Otreply]

21 minutes ago, ExiledInIllinois said:

We're you able to do the things you wanted to when you were young and more healthy? Than... I guess it worked for you. 

 

BUT, only to save and deprive yourself when you are still young and relatively healthy is a bummer. Why they are saying live a consistent standard of living throughout your life.  There will be no regrets. Can't take it with you. 

There is no depriving involved in not being in debt your whole life, you don’t need to be rich to enjoy a good bottle of wine with friends, you don’t have to be rich to share great food with friends.  It is a fallacy to think saving and retiring early is burdensome, but you do you, and when those of the younger generation realize by following that path they will likely never be able to retire…, why would anyone recommend such a detrimental course of life to follow. 
 

Oh, and I had an absolutely fun time when I was young, healthy, and working, I had some of the most exciting experiences of my life during those years, 

Edited July 11, 2023 by Don Otreply

[WhoTom]

11 minutes ago, ExiledInIllinois said:

consistent standard of living

 

In order to have a consistent standard of living through retirement, you have to save something prior. We certainly didn't deprive ourselves of nice things, but we saved enough to semi-retire in our mid-50s. We both do a little freelance writing now, but we don't really need the money - it's more of a hobby that earns money instead of costing money.

 

 

[ExiledInIllinois]

4 hours ago, WhoTom said:

 

In order to have a consistent standard of living through retirement, you have to save something prior. We certainly didn't deprive ourselves of nice things, but we saved enough to semi-retire in our mid-50s. We both do a little freelance writing now, but we don't really need the money - it's more of a hobby that earns money instead of costing money.

 

 

Yeah... But it's all relative. Nobody is saying don't save at all...

 

"According to the model, young workers with low income dissave; middle-aged workers save a lot; and retirees spend down their savings."

 

 

 

"Young workers with LOW income..." is key...

[Saxum]

7 hours ago, Don Otreply said:

Carry as little debt throughout your life as possible, and pay it ALL off long before you retire. 

 

We have had no debt for 10 years and a few years away from retirement.

[Saxum]

6 hours ago, coloradobillsfan said:

As someone who has visited Yellowstone over a dozen times, and has watched countless bored-out-of-their-minds children throwing objects into the delicate natural hot springs, I wholeheartedly agree.

 

I'll add a bit of knowledge that I only recently came to understand:  Everyone knows (or should know) that we have the right to remain silent when questioned by police.  But what not everyone knows is that you have to INVOKE your 5th amendment right by expressing this is what you are doing.  If you don't, your silence CAN be used against you in court. 

 

Know someone who has "I invoke my 5th amendment rights" tattooed on his back of hands / fingers.

He says he did it because police said he never invoked his rights.

[Bill from NYC]

15 hours ago, Don Otreply said:

Carry as little debt throughout your life as possible, and pay it ALL off long before you retire. 

The above is virtually beyond dispute. 

 

Getting old happens quickly, and there is nothing like having some money in the bank, safe investments, and yes.....in your pocket.

 

Today, people are having weddings all over the world and expect guests to spend thousands of dollars to attend. I equate going to one of these to flushing money down the toilet. I know a guy who threw himself a birthday party on some island in the Bahamas. I wouldn't even consider going.  I have seen folks go to Europe, or even fly to Alaska to fish for salmon. They post pictures on facebook and pay the interest on the credit card. That is fine for them but I'll pass. 

 

My advice in this category: Unless you have lots of extra cash that you don't mind spending, do not own a car that is not under factory warranty, and if you buy an extended warranty, get it from the auto company. The "check airbag" light came on in my car. Without a warranty, the cost was $955.00,' and this was 2 years ago. Air conditioning repairs can cost more than 3,000 dollars, perhaps even 4K. I pay for the warranty and buy a new car just before it expires.

[Big Turk]

That Kid LEROI had some great advice for single guys out there that unfortunately many don't listen to...

 

"So there you go, oh...

Can't make a wife out of a ho..."

 

 

And as for programmers and software engineers....

 

Always check for null.

Edited July 12, 2023 by Big Turk

[Bill from NYC]

8 hours ago, Limeaid said:

 

Know someone who has "I invoke my 5th amendment rights" tattooed on his back of hands / fingers.

He says he did it because police said he never invoked his rights.

Sounds like someone who would be quite beneficial to be around.

[Dan in Owego]

6 minutes ago, Bill from NYC said:

Sounds like someone who would be quite beneficial to be around.

And here we have another bit of wisdom "choose your friends wisely".

[Nextmanup]

11 hours ago, Limeaid said:

 

We have had no debt for 10 years and a few years away from retirement.

Fun stats about Americans and money and debt:

 

The average American adult has $58,604 of debt.  

 

77% of American households have at least some debt.

 

64% of Americans are living paycheck to paycheck.

 

40% of American households are "liquid asset poor" which means they don't have enough money saved to make ends meet if their income is suddenly interrupted.

 

Today's average wage has the same purchasing power it did, in real terms, about 40 years ago.

 

We grow more and more like a typical S. American country all the time; we are going to end up with 5% owning everything, and 95% owning nothing.  Not the country I want to live in, nor should anyone.

 

 

 

 

[Irv]

Don't sh*t where you sleep.