http://forum.earlyretirementextreme.com/ --- for those on the fast track to financial independence en Wed, 22 Feb 2012 17:50:36 +0000 http://forum.earlyretirementextreme.com/topic.php?id=1360#post-29216 Wed, 22 Feb 2012 09:44:57 +0000 secretwealth 29216@http://forum.earlyretirementextreme.com/ <p>I'm not sure if it's optimism or extreme arrogance. We Gen Xers were very cynical, bitter, angry people as a whole--not too surprising since we were first in line to be fucked over by the Boomers. I guess the Millennials have benefited from a school system where bullying is kept in check and education is more about building self-esteem than actually teaching. How times have changed. In my school as a kid, teachers often joined in with the students to bully a whipping boy or two. </p> http://forum.earlyretirementextreme.com/topic.php?id=2154#post-29215 Wed, 22 Feb 2012 08:52:29 +0000 secretwealth 29215@http://forum.earlyretirementextreme.com/ <p>So, I'm so impressed with the leveraged income experiments going on here that I've decided I want to try it myself, but I want some advice/comments/guidance before I take the plunge. I haven't been with IB before, so it's going to take me a few days to set the account up. When it's all done, I plan on leveraging 10k into some relatively stable dividend-yielding non-REITs, mixed between stocks and funds. Here's what I'm thinking of getting:</p> <p>T<br /> RAI<br /> VGR<br /> PHT<br /> PHK<br /> PTY<br /> ERH<br /> ERC<br /> EAD<br /> PCN</p> <p>I know it's a long list, but any thoughts would be much appreciated. I'll of course track the progress of this here as have the giants who have come before me, and upon whose shoulders I rest. </p> http://forum.earlyretirementextreme.com/topic.php?id=2153#post-29214 Wed, 22 Feb 2012 08:49:22 +0000 livinlite 29214@http://forum.earlyretirementextreme.com/ <p>"The way I avoid building up lots of stuff again is I think of stores more like museums - I can enjoy looking, but I don't need to take it home."</p> <p>Brilliant.</p> <p>I'm finding myself using the Amazon "wish list" more and more. If there's something I want, I put it on there and then check every now and then at my list..if it's over 2-3 weeks old, I usually end up having moved on to wanting something else anyway.. Sort of a digital solution to Jacob's "wait 30-days" advice. </p> http://forum.earlyretirementextreme.com/topic.php?id=2153#post-29213 Wed, 22 Feb 2012 08:41:52 +0000 rachelFLF 29213@http://forum.earlyretirementextreme.com/ <p>Good for you! I've decluttered a lot too. Living with too much stuff was a stressful mental drain. Now my apartment is a serene space. The hardest thing to get rid of was books - displaying all of my favorite books was an ego thing. But I realized I can get anything I want at the library, and books are a pain when you move (which we plan to do this year), so off they went.</p> <p>I ended up donating everything that wasn't garbage. I don't have a business like what you describe near me, and to me the time and energy to sell the stuff online wasn't worth the few hundred dollars I might have made, as I'm still working full time. I always get a donation receipt for tax purposes.</p> <p>The way I avoid building up lots of stuff again is I think of stores more like museums - I can enjoy looking, but I don't need to take it home. Though to be honest I don't spend much time in stores anymore :) </p> http://forum.earlyretirementextreme.com/topic.php?id=2153#post-29212 Wed, 22 Feb 2012 08:20:13 +0000 chenda 29212@http://forum.earlyretirementextreme.com/ <p>Definitely. I love decluttering, I don't know why but its makes you feel so much better clearing out junk and having all that clear space. Its a great mental boost.</p> <p>It something I like do to every 6months or so, stuff always has a tendency to keep building up. I've never had anything worthwhile to sell though, so it all goes to the dump. </p> http://forum.earlyretirementextreme.com/topic.php?id=2153#post-29211 Wed, 22 Feb 2012 04:07:31 +0000 TheLuckyWizard 29211@http://forum.earlyretirementextreme.com/ <p>Last week I decided to do a declutter in my house.</p> <p>I cleared out 2/3 of my clothes and brought them down to this place that buys clothes in bulk and sells them on. I brought down two bags and after they dumped most of the stuff because it was unusable I was handed €5.</p> <p>I know this doesn't sound too impressive but I like looking at the positives. I gots rid of loads of clothes I didn't want, as they were falling apart or never worn. I didn't have to pay to dump them myself and I got a little bit of cash for them.</p> <p>I've started clearing the rest of my stuff too but decided clothes would lead the way as I hate clothes and really didn't like having the extras around.</p> <p>I plan on clearing 2/3 of my non-clothes items too in the next few weeks, either by selling/giving away or dumping if they have no use.</p> <p>I've actually felt much better since I've done the de-clutter and I'm really looking forward to getting rid of the rest of my excess crap(stuff I don't use).</p> <p>I was wondering has anyone else have a similar experience and what is the most you've made selling off your crap? </p> http://forum.earlyretirementextreme.com/topic.php?id=2132#post-29210 Wed, 22 Feb 2012 02:10:12 +0000 Radamisto 29210@http://forum.earlyretirementextreme.com/ <p>I've been with Interactive Brokers for 5 years now and I'm very happy with it. Really low comissions, solid online platform, good customer support. Highly recommended! </p> http://forum.earlyretirementextreme.com/topic.php?id=1717#post-29209 Wed, 22 Feb 2012 02:06:42 +0000 Radamisto 29209@http://forum.earlyretirementextreme.com/ <p>I agree with point already raised that many modern appliances replace the older ones. I may have a smartphone, but it replaces a landline phone. Laptop instead of a TV. Kindle instead of paper books. Watch is no longer needed, since I always carry my phone with me. And so on. </p> http://forum.earlyretirementextreme.com/topic.php?id=2151#post-29208 Tue, 21 Feb 2012 22:32:29 +0000 riparian 29208@http://forum.earlyretirementextreme.com/ <p>National forests, actually. Most national parks charge. </p> http://forum.earlyretirementextreme.com/topic.php?id=1567#post-29207 Tue, 21 Feb 2012 20:11:05 +0000 Roark 29207@http://forum.earlyretirementextreme.com/ <p>I think growing your own tobacco might be the most cost effective thing, even moreso than brewing one's own beer or wine.</p> <p>My mother is about to retire at 55 this year and since she smokes cigarettes (in Canada, where a pack is about $10 because of taxation) I was thinking about encouraging her to grow her own tobacco. I've been researching the history of health problems related to tobacco, and there were very few widespread health problems related to tobacco until the introduction of chemical laden cigarettes to the trenches of the wars. Many people both smoked natural tobacco leaves and insuffilated nasal tobacco without the degree of problems that occur today. In fact, the original Surgeon General's report did not find the same problems in cigar smokers as cigarette smokers, and cigars are mainly made of natural tobacco leaf.</p> <p>The problem is the climate in my area is very wet (Pacific Northwest). Most tobacco is grown in dry areas. Then it has to be hung to dry. Also I have no idea on the legality of this. </p> <p>I was also thinking about growing ephedra sinica, but from what I understand the chemically processed pharmaceutical ephedrine HCL is not scheduled in Canada, but the natural herb ephedra used for thousands of years in Chinese medicine is scheduled. That makes sense since laws scheduling drugs are usually made with input of the pharmaceutical lobby.</p> <p>I've been searching around the internet trying to find out if fishing is cost effective. I suppose it depends if you have to drive a vehicle out to the lake, river, or ocean and pay for gas, or if you can just walk or ride your bike there. I am thinking about purchasing an inflatable kayak and some crab traps and a fishing pole, mostly for hobby purposes but I would like to know if somebody did the math on something like this and found it yields a positive return (even if its in the dollar per hour range).</p> <p>Edit: I wanted to add that one should compare apples to apples when looking at raising hens. The eggs from a free range hen that eats bugs and grass contain important vitamins A, D, and K2. The latter is completely absent from entirely grain fed eggs which are found at the store. They also have very high levels of DHA (only omega-3 eggs at the store have high levels of DHA, and they still do not contain K2). If you look up some of the studies on K2 levels in Europe, the people with the highest levels of K2 intake have dramatically lower incidence of cardiovascular disease. So much so that intake of K2 is incomparable to any kind of drug intervention. The same can be said for K2 levels and rates of osteoperotic bone breaks in elderly Japanese women. </p> http://forum.earlyretirementextreme.com/topic.php?id=1323&page=3#post-29206 Tue, 21 Feb 2012 19:18:54 +0000 George the original one 29206@http://forum.earlyretirementextreme.com/ <p>I looked at GOV last year, I think, but it doesn't have a long enough track record for my tastes.</p> <p>It's starting to look better now... considering the short track record and the possiblity of government expenses tightening, I'd like to see the yield closer to 7.5% before biting, so watch for the drops (dang, missed it in the fall when yield shot over 8%). </p> http://forum.earlyretirementextreme.com/topic.php?id=2147#post-29205 Tue, 21 Feb 2012 18:50:57 +0000 palmera 29205@http://forum.earlyretirementextreme.com/ <p>1. freelance writing on subjects I enjoy</p> <p>2. passive (or rather, alternative incomes) incomes</p> <p>and</p> <p>3. working seasonally in hospitality part-time translation/interpretation work.</p> <p>I want to live off of these income and just let my nestegg do the runaway thermal thing. </p> http://forum.earlyretirementextreme.com/topic.php?id=1360#post-29204 Tue, 21 Feb 2012 17:29:21 +0000 jacob 29204@http://forum.earlyretirementextreme.com/ <p>Gen Z are die-hard optimists [with no apparent sense of reality]. I saw a family member discussing with her fb friends how many from her high school class they thought would be rich/successful. The consensus was somewhere north of 90%. Then a second question came up: How many were going to be famous. The consensus was 40%. Indeed, the belief is that over the next couple of decades, at least 150 of the celebrities you see on TV or read about will all have originated out of the same high school in Podunk. </p> http://forum.earlyretirementextreme.com/topic.php?id=2151#post-29203 Tue, 21 Feb 2012 17:27:27 +0000 jacob 29203@http://forum.earlyretirementextreme.com/ <p>It's called boondocking. You can do it [for free] in national parks. </p> http://forum.earlyretirementextreme.com/topic.php?id=2096#post-29202 Tue, 21 Feb 2012 17:24:40 +0000 BeyondtheWrap 29202@http://forum.earlyretirementextreme.com/ <p>I'm planning on semi-retiring when I hit the 4% mark. While it's not as safe as 3%, the fact that I will most likely still do some work for pay makes up for it. </p> http://forum.earlyretirementextreme.com/topic.php?id=1323&page=3#post-29201 Tue, 21 Feb 2012 16:44:42 +0000 larry 29201@http://forum.earlyretirementextreme.com/ <p>@George the-original-One,</p> <p>Thanks for the info on GOOD. I'll take a look at it.</p> <p>I've looked at OHI before, but didn't buy since I already have positions in UHT and SNH. I'm not real sure where healthcare reimbursements are headed and I think further cuts could hurt the healthcare Reits.</p> <p>What are your thoughts on GOV?</p> <p>Larry </p> http://forum.earlyretirementextreme.com/topic.php?id=1360#post-29200 Tue, 21 Feb 2012 16:40:29 +0000 jennypenny 29200@http://forum.earlyretirementextreme.com/ <p>@livinlite--The book was required for her American literature class so I understood her assumption that it was fiction. Fortunately (unfortunately?) she knows what real poverty is because she volunteers at a soup kitchen in Trenton regularly. </p> <p>I think there is a big difference between rural and urban poverty. If the economy collapsed it would be different this time, and more violent, because the poverty would be concentrated in urban areas. </p> http://forum.earlyretirementextreme.com/topic.php?id=2131#post-29199 Tue, 21 Feb 2012 16:25:57 +0000 jennypenny 29199@http://forum.earlyretirementextreme.com/ <p>He said not yet. Probably next week. It must be the fraud software because a security issue would be the only reason he'd know. </p> http://forum.earlyretirementextreme.com/topic.php?id=1360#post-29198 Tue, 21 Feb 2012 16:19:57 +0000 Ego 29198@http://forum.earlyretirementextreme.com/ <p>As Dragline pointed out, hyperinflation caused creditors to be "the losers" because the debts are paid back with cheaper dollars. At least that's how it used to work. Not any more.</p> <p>Argentinean banks forced a redenomination of debts after their recent currency crisis. The person with the equivalent of a $100K mortgage before the devaluation had a $30K mortgage for a few weeks. Then the government passed a law redenominating contracts so that they were back near $100K. </p> http://forum.earlyretirementextreme.com/topic.php?id=2131#post-29197 Tue, 21 Feb 2012 15:37:12 +0000 livinlite 29197@http://forum.earlyretirementextreme.com/ <p>I filed mine electronically last week using TaxSlayer and got my refund in short-order...with a $400 downward adjustment by the IRS...I won't find out why until March, but given that the only adjustments I made were from college tuition, I'm guessing it has something to do with that...we'll see. </p> http://forum.earlyretirementextreme.com/topic.php?id=1360#post-29196 Tue, 21 Feb 2012 15:26:52 +0000 livinlite 29196@http://forum.earlyretirementextreme.com/ <p>@jennypenny - I feel for your position explaining that stuff to the kids, but I think that's one area where being truthful and talking through the situation is the best way to go. Especially if they are high-schoolers...their going to find out shortly what a cold cruel world is out there...and might as well start altering their conceptions of success and mastery to match with what's possible...as well as learn to have compassion for those who are slipping further behind...which starts with admitting those people exist...something our media/schools don't seem ready to do.. </p> http://forum.earlyretirementextreme.com/topic.php?id=2134#post-29195 Tue, 21 Feb 2012 15:19:27 +0000 Zoombies 29195@http://forum.earlyretirementextreme.com/ <p>@livinlite</p> <p>Check out ultagauge for a MPG tool. Its much cheaper than a scangauge and gives instantaneous readout. Not as cheap as ones that connect to a PC/Laptop, but more convenient. Works with all OBD-II vehicles.</p> <p>If you wann get mileage out of your vehicle... check out the ecomodder forums. Also, this page from them is of great use:</p> <p><a href="http://ecomodder.com/wiki/index.php/Car_MPG_Efficiency_Modifications_Main" rel="nofollow">http://ecomodder.com/wiki/index.php/Car_MPG_Efficiency_Modifications_Main</a> </p> http://forum.earlyretirementextreme.com/topic.php?id=2131#post-29194 Tue, 21 Feb 2012 15:18:51 +0000 sshawnn 29194@http://forum.earlyretirementextreme.com/ <p>@jennypenny</p> <p>Has the bird whistled any different tunes? I am almost ready to file. </p> http://forum.earlyretirementextreme.com/topic.php?id=2134#post-29193 Tue, 21 Feb 2012 14:27:29 +0000 LiquidSapphire 29193@http://forum.earlyretirementextreme.com/ <p>And this battery tester<br /> :<br /> <a href="http://www.amazon.com/gp/product/B0031BUXRU/ref=oh_o06_s00_i00_details" rel="nofollow">http://www.amazon.com/gp/product/B0031BUXRU/ref=oh_o06_s00_i00_details</a></p> <p>Tests pretty much any battery I'd ever use at least. I hate finding a random AA battery and not knowing if I should throw it away or not. Even the ones that are mostly dead, if they have any life left, I will keep. I specifically set them aside for my little battery operated radio. That device seems to be able to best use "almost dead" batteries, while other devices seem to need at least some charge.</p> <p>I guess the ultimate ERE strategy is to buy rechargeable batteries of course... I heard Eneloop batteries were better than most. </p> http://forum.earlyretirementextreme.com/topic.php?id=2134#post-29192 Tue, 21 Feb 2012 14:18:29 +0000 LiquidSapphire 29192@http://forum.earlyretirementextreme.com/ <p>Ergonomic mouse</p> <p><a href="http://www.amazon.com/gp/product/B001FWOXVE/ref=oh_o01_s00_i00_details" rel="nofollow">http://www.amazon.com/gp/product/B001FWOXVE/ref=oh_o01_s00_i00_details</a></p> <p>Cured the beginnings of my ulnar neuropathy - no more wrist/arm pain, yay!</p> <p>This is my favorite Amazon filler to get free shipping (before I got Prime).</p> <p><a href="http://www.amazon.com/gp/product/B0025Z2R18/ref=oh_o04_s00_i00_details" rel="nofollow">http://www.amazon.com/gp/product/B0025Z2R18/ref=oh_o04_s00_i00_details</a> </p> http://forum.earlyretirementextreme.com/topic.php?id=2132#post-29191 Tue, 21 Feb 2012 14:00:31 +0000 livinlite 29191@http://forum.earlyretirementextreme.com/ <p>re: Fidelity</p> <p>I'm considering this one for my first foray into investing.</p> <p>1) there's a branch down the street</p> <p>2) they seem to offer low fees up-front for opening an account (I'd probably do the minimum $2,500 to start)</p> <p>3) their cash management account pays similar to my current savings account and is FDIC</p> <p>4) I'm looking for a new rewards credit-card and this one seems good to me: <a href="http://personal.fidelity.com/products/checking/content/amex_rewards_card.shtml" rel="nofollow">http://personal.fidelity.com/products/checking/content/amex_rewards_card.shtml</a></p> <p>I'm still a small-fish, but I'd like to do something decent with my small-fish savings while continuing the ERE plan and I do put around $5-10K in reimbursed business expenses a year through my personal CC, so the 2% can't hurt (I've been getting miles, but I don't need any more)..plus I'll probably still have ~$7-10K in general spending I could run through that card a year too (tuition payments and other).</p> <p>Sound good?</p> <p>EDIT ::</p> <p>I did some more looking and Schwab/OptionsExpress is probably better for me just for starting out with the tools and educational stuff they offer. I want to do some playing around and getting my feet wet with a small chunk of change before I start putting the nest egg out there. </p> <p>I think I'll still do a Fidelity account for the Amex Card though.. </p> http://forum.earlyretirementextreme.com/topic.php?id=2134#post-29190 Tue, 21 Feb 2012 13:50:13 +0000 livinlite 29190@http://forum.earlyretirementextreme.com/ <p>re: kill-a-watt type tools</p> <p>On RanPrieur's site this past month there was a reference to a plug-in / blue-tooth engine analytic device that would tell you your instant MPG. It only works for cars after ~2000 models I think, but could be good for those who still need a car, but want to drive it more efficiently...and have a smart-phone.</p> <p>I can't find the link, but a little googling could produce. </p> http://forum.earlyretirementextreme.com/topic.php?id=2147#post-29189 Tue, 21 Feb 2012 13:39:08 +0000 livinlite 29189@http://forum.earlyretirementextreme.com/ <p>Well, I've been looking into this pretty intently and think I came up with a path forward for now:</p> <p>1) enroll in local community college program for a Bookkeeping Certification; it's 31 credits I can do all online; tuition will be roughly $2,400; I should be able to get most, if not all, of that covered by my current jobs' tuition-reimbursement program; will take 2-quarters to complete (done by Sep'12); will teach me fundamentals of business financial spreadsheet analysis and Quickbooks-type work and Accounting 201/202.</p> <p>2) assess if this gives me enough to open a side-business p/t while continuing my day-job or if I need more schooling/credentials to be viable</p> <p>3) if so, progress to getting a CPA license by..</p> <p>4) enrolling in Western Governor University's MBA online program; would cost ~$12-14K for MBA credentials (current company would pay for ~$10K of that), which would also fulfill the ed req's for the CPA license; independent study for CPA; I could then use the MBA to go into consulting, advance at my current employer, or ??</p> <p>I should be able to get to Step 4 by 2014 with minimal impact to my ERE strategy.</p> <p>Thoughts? Should I even pursue Step 1, or just go straight to Steps 2-4? I like the optionality of learning essential skills, but also realize that the MBA could be a quicker ticket to a higher near-term salary that could more quickly fund my ERE strategy if I don't lifestyle inflate.. </p> <p>Note :: I have a BA in English with a significant amount of coursework in Math/Sciences and have 10 yrs of corporate/analyst work; I've completed 3 graduate courses recently too, but don't want to spend the $$ on a private university master's degree at ~$45K. </p> http://forum.earlyretirementextreme.com/topic.php?id=2144#post-29188 Tue, 21 Feb 2012 12:20:21 +0000 Obadobadope 29188@http://forum.earlyretirementextreme.com/ <p>George thanks for that great link. It was good to see historical safe max withdrawal rates estimated, and to compare them with other stats to get a rough idea of the current safe max. 4% seems like a pretty accurate safe max for today's stock market valuations, although at the yearly lows for the last couple years it was probably more like 5-6%. Bonds are probably at 3%. </p> http://forum.earlyretirementextreme.com/topic.php?id=2134#post-29187 Tue, 21 Feb 2012 10:55:08 +0000 jennypenny 29187@http://forum.earlyretirementextreme.com/ <p>For t-shirts and underwear, I've never found a better deal than the Jockey clearance store on ebay. Everything is new and prepackaged and ships free. Good quality for the price.</p> <p><a href="http://stores.ebay.com/jockeydirectcloseouts" rel="nofollow">http://stores.ebay.com/jockeydirectcloseouts</a></p> <p>Change the Sort by to lowest first. The best deals with free shipping will pop up. I think you get free shipping whenever you order more than one item. There is also a daily deal. </p> http://forum.earlyretirementextreme.com/topic.php?id=1323&page=3#post-29186 Tue, 21 Feb 2012 10:22:35 +0000 George the original one 29186@http://forum.earlyretirementextreme.com/ <p>Apart from my #1 pick (OHI, which is also a decent dividend growth REIT), I'm watching ADC for a re-entry point (when yield is &gt;7%).</p> <p>ADC had to cut their dividend when Borders went belly up, but they've been rather nimble at getting back on their feet. I was last in at 23.70 and sold in the 25+ range. I owned ADC when Borders was in the walking dead category (when the yield was extraordinary) and waited to sell until Borders was definitely not going to be rescued. </p> http://forum.earlyretirementextreme.com/topic.php?id=2146#post-29185 Tue, 21 Feb 2012 10:17:02 +0000 Obadobadope 29185@http://forum.earlyretirementextreme.com/ <p>I'm a little thrown off by US stocks right now. I was expecting lower valuations with the market in a longer-term down cycle for the next few years. Now 2011 earnings are mostly out, and they have been incredible - suggesting a current P/E ratio of 15 which is reasonable despite the recent run-up. Expected normalized P/E's show a ratio more like 20 and it feels overvalued given the valuation down-cycle. We're earning our way through the recession and downturn. For now I'm still buying. But I feel wary. My long term data suggests there are market-wide P/E's of 7-12 coming sometime soon for a bottom in the next 5-10 years. My short term data says surging earnings are keeping stocks priced fairly enough that I cannot stop buying and moving towards financial freedom. So I'm going to keep accumulating, tenuously, for now. </p> http://forum.earlyretirementextreme.com/topic.php?id=2134#post-29184 Tue, 21 Feb 2012 10:14:20 +0000 LiquidSapphire 29184@http://forum.earlyretirementextreme.com/ <p>Good tip Jennypenny - reminded me of this article by a chef about how a minimalist kitchen still cooks great. </p> <p><a href="http://www.nytimes.com/2007/05/09/dining/09mini.html?pagewanted=all" rel="nofollow">http://www.nytimes.com/2007/05/09/dining/09mini.html?pagewanted=all</a></p> <p>I also liked this page about knives - I can vouch for the Victorinox Chef's Knife as well as the sharpener. Especially the sharpener - has brought our other knives back to life and fairly easy to use out of the box.</p> <p><a href="http://unclutterer.com/2011/11/29/2011-holiday-gift-giving-guide-the-kitchen/" rel="nofollow">http://unclutterer.com/2011/11/29/2011-holiday-gift-giving-guide-the-kitchen/</a></p> <p>I also was reminded yesterday of this article on how to turn a "dumb" phone into a smart phone using text messages only. Brilliant.</p> <p><a href="http://lifehacker.com/5869666/how-to-turn-your-dumbphone-into-a-smartphone-using-nothing-but-sms" rel="nofollow">http://lifehacker.com/5869666/how-to-turn-your-dumbphone-into-a-smartphone-using-nothing-but-sms</a> </p> http://forum.earlyretirementextreme.com/topic.php?id=2152#post-29183 Tue, 21 Feb 2012 10:07:27 +0000 GandK 29183@http://forum.earlyretirementextreme.com/ <p>That is both hilarious and absolutely true. :-) </p> http://forum.earlyretirementextreme.com/topic.php?id=2151#post-29182 Tue, 21 Feb 2012 09:43:21 +0000 Lancelot 29182@http://forum.earlyretirementextreme.com/ <p>Yes, it could be mutually beneficial to both parties, especially since I'm away traveling most of the time :) </p>