post_id
string | comment_id
string | comment
string | comment_score
float64 | comment_author
string | comment_created_utc
float64 | post_title
string | post_text
string | post_score
float64 | post_author
string | post_created_utc
float64 | company
string | subreddit
string | post_url
string |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
k1dz03
|
gdoaht3
|
absolutely how every corporate video is a bright guitar soundtrack
| 8 |
Jesus_Was_Brown
| 1,606,407,479 |
Time to get into GIK/ Lightning Emotors.
|
GigCapitalStock3 (GIK) could very well be one of the #1 stocks of next week. Bloomberg Reported last week that they're in ADVANCED talks about merging with Lightning eMotors.
(https://www.bloomberg.com/news/articles/2020-11-19/lightning-emotors-said-in-talks-to-go-public-via-gigcapital3)
Who're Lightnight Emotors? They own the largest commercial electric vehicle production facility in the US, and are the biggest electric drivetrains OEMs currently. Also,
- [Partnered with ABC companies, one of US's leading coach companies](https://www.greencarcongress.com/2020/10/20201031-abc.html)
- [Partnered with PLUG](https://lightningemotors.com/plug-power-partners-with-lightning-systems-to-build-zero-emission-middle-mile-delivery-solution/)
- [Working with AMAZON, in this video??? ](https://m.youtube.com/watch?ab_channel=LightningeMotors&v=FD1mXFSTIEU)
They've also ramped up production and doubled their workforce recently, so are clearly expecting money from somewhere.
Time to get into GIK/Lightning Emotors?!?
Waiting for news...
| 53 |
Dragonfruit3075
| 1,606,391,616 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/k1dz03/time_to_get_into_gik_lightning_emotors/
|
k1dz03
|
gdnkj7v
|
Look how had lightning systems website is though
(Thats still their name)
| 6 |
xXxTRIPLE6Mxfia
| 1,606,391,841 |
Time to get into GIK/ Lightning Emotors.
|
GigCapitalStock3 (GIK) could very well be one of the #1 stocks of next week. Bloomberg Reported last week that they're in ADVANCED talks about merging with Lightning eMotors.
(https://www.bloomberg.com/news/articles/2020-11-19/lightning-emotors-said-in-talks-to-go-public-via-gigcapital3)
Who're Lightnight Emotors? They own the largest commercial electric vehicle production facility in the US, and are the biggest electric drivetrains OEMs currently. Also,
- [Partnered with ABC companies, one of US's leading coach companies](https://www.greencarcongress.com/2020/10/20201031-abc.html)
- [Partnered with PLUG](https://lightningemotors.com/plug-power-partners-with-lightning-systems-to-build-zero-emission-middle-mile-delivery-solution/)
- [Working with AMAZON, in this video??? ](https://m.youtube.com/watch?ab_channel=LightningeMotors&v=FD1mXFSTIEU)
They've also ramped up production and doubled their workforce recently, so are clearly expecting money from somewhere.
Time to get into GIK/Lightning Emotors?!?
Waiting for news...
| 53 |
Dragonfruit3075
| 1,606,391,616 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/k1dz03/time_to_get_into_gik_lightning_emotors/
|
k1dz03
|
gdnkqle
|
We did a video on GIK on the Chanel have a look 👀 if you can. Thanks
| 7 |
paulspicks2020
| 1,606,392,039 |
Time to get into GIK/ Lightning Emotors.
|
GigCapitalStock3 (GIK) could very well be one of the #1 stocks of next week. Bloomberg Reported last week that they're in ADVANCED talks about merging with Lightning eMotors.
(https://www.bloomberg.com/news/articles/2020-11-19/lightning-emotors-said-in-talks-to-go-public-via-gigcapital3)
Who're Lightnight Emotors? They own the largest commercial electric vehicle production facility in the US, and are the biggest electric drivetrains OEMs currently. Also,
- [Partnered with ABC companies, one of US's leading coach companies](https://www.greencarcongress.com/2020/10/20201031-abc.html)
- [Partnered with PLUG](https://lightningemotors.com/plug-power-partners-with-lightning-systems-to-build-zero-emission-middle-mile-delivery-solution/)
- [Working with AMAZON, in this video??? ](https://m.youtube.com/watch?ab_channel=LightningeMotors&v=FD1mXFSTIEU)
They've also ramped up production and doubled their workforce recently, so are clearly expecting money from somewhere.
Time to get into GIK/Lightning Emotors?!?
Waiting for news...
| 53 |
Dragonfruit3075
| 1,606,391,616 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/k1dz03/time_to_get_into_gik_lightning_emotors/
|
k17wma
|
gdmj6my
|
I have both, but I like GIK more because the company they are merging with lightning emotors has great potential long term.
| 14 |
TripleNippple
| 1,606,363,469 |
GIK vs FIII
|
Which of these two do you like better? Or just buy 1/2 of each and let them ride? I am planning on selling my LGVW at the open on Friday and putting the proceeds into one or both of these. Currently, FIII is a tad cheaper, but GIK has the Amazon and Plug partnerships which I think adds to its shininess for buyers.
| 20 |
AluminiumCaffeine
| 1,606,363,205 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/k17wma/gik_vs_fiii/
|
k17wma
|
gdmu7rl
|
hold LGVW, as it hasn't mooned yet, ARKG aka Cathie Woods can and will take it further, and get 1/2 in each! both are very promising. GIK target is huge, has 10000 orders potentially 20000 from Amazon and partnership with Amazon and Plug Power. FIII is brought to you by the same management team that brought TTCF which is one of the most successful post merger companies
| 6 |
PumpkinPuzzlehead
| 1,606,371,427 |
GIK vs FIII
|
Which of these two do you like better? Or just buy 1/2 of each and let them ride? I am planning on selling my LGVW at the open on Friday and putting the proceeds into one or both of these. Currently, FIII is a tad cheaper, but GIK has the Amazon and Plug partnerships which I think adds to its shininess for buyers.
| 20 |
AluminiumCaffeine
| 1,606,363,205 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/k17wma/gik_vs_fiii/
|
jxp4fx
|
gcy053e
|
Commons are up 2%. That's "Skyrocketing" in your book?
| 16 |
SPAC-ey-McSpacface
| 1,605,883,324 |
$GIK commons and warrants SKY rocketing
|
As expected .. both commons and warrants going off in early trading. Should see significant upside when the definite merger comes through with Lightning E-Motors. Partners include Amazon and Plug Power. Don’t let this one slip by, still huge upside left!!!!!!
| 11 |
joelivi053
| 1,605,879,390 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/jxp4fx/gik_commons_and_warrants_sky_rocketing/
|
jxgekm
|
gcwi8o4
|
So it is technically a PIC but with wider applications...
| 7 |
wun1337
| 1,605,840,321 |
GIK & GIK+ new top idea for SPAC’s
|
Lightning EMotors in talks to go public via GigCapital3, Bloomberg reports Lightning EMotors, a company that focuses on fleet electrification and cutting out fuel consumption, is in advanced talks to go public through a merger with blank-check firm GigCapital3.
Partnered with Amazon and Plug Power. This one should catch the eyes of many going forward. The definite agreement coming will make this the #1 SPAC of next week in my opinion. Watched CIIC take off on DA, same will happen here.
| 24 |
joelivi053
| 1,605,837,921 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/jxgekm/gik_gik_new_top_idea_for_spacs/
|
jesl25
|
g9g47u2
|
It’s looking good. Almost too good... but the amount of discussion SRAC/Momentus has sparked in the last two weeks alone on r/SPACs is showing it’s definitely catching people’s interests.
It’s already developing an almost cult like following like Tesla,SPCE and AMD have.
Provided the launches in December and Q1 2021 go well and the merger goes though I’ll be in heavy.
| 12 |
Arrowtotheknee99
| 1,603,211,731 |
SRAC - Momentus : How to call an Uber for your satellite (my DD)
|
\_\*\*\*INVESTOR PRESENTATION\*\*\*\_ (please dear god read this)
[https://momentus.space/wp-content/uploads/2020/10/Momentus-Investor-Presentation-October-2020.pdf](https://momentus.space/wp-content/uploads/2020/10/Momentus-Investor-Presentation-October-2020.pdf)
​
\_\*MOMENTUS INVESTOR PAGE\*\_
\[Momentus to become public through merger with stable road acquisition - Momentus\]([https://momentus.space/investors/](https://momentus.space/investors/))
​
\_\*Investor call\*\_
\[Momentus Announcement Call - 1383495\]([https://viavid.webcasts.com/starthere.jsp?ei=1383495&tp\_key=4b6b555f1a](https://viavid.webcasts.com/starthere.jsp?ei=1383495&tp_key=4b6b555f1a))
​
​
Great video breakdown for those of you who hate reading
\[Momentus Space merging with SRAC Stock! A SPACE and SPAC Stock! MNTS Stock! - YouTube\]([https://www.youtube.com/watch?v=pfJ6BuGgAic](https://www.youtube.com/watch?v=pfJ6BuGgAic))
(I address the risks mentioned by the video in this report and I find them to be poorly thought out, but a great company breakdown otherwise)
​
​
\_\*KEY INVESTORS\*\_
Bill Ackman (There are others but I freaking love this guy he gets his own bulletpoint)
​
​
\_\*OUTLOOK\*\_
Explosion of the number of satellites being currently developed - this is due largely to the fact that SpaceX is dramatically reducing the cost of bringing a payload into orbit
“Why in the next decade companies will launch thousands more satellites than in all of history”
\[SpaceX, OneWeb and Amazon to launch thousands more satellites in 2020s\]([https://www.cnbc.com/2019/12/14/spacex-oneweb-and-amazon-to-launch-thousands-more-satellites-in-2020s.html](https://www.cnbc.com/2019/12/14/spacex-oneweb-and-amazon-to-launch-thousands-more-satellites-in-2020s.html))
​
We are on the cusp of an explosion of space technology as private companies such as SpaceX, BlueOrigin, and others compete over market share. This had led to drastic cost reductions in the cost to launch satellites.
Big players have announced the intention to launch as many as 46,100 satellites in the next few years. That’s more than five times the amount of objects sent to space in the past 60 years,”
​
Many of these these satellites will be launched into orbit by being attached to a large rocket (ride sharing) which itself has its own payload to deliver and agenda to fulfill. Momentus comes in by attaching a custom launch vehicle to the large payload carrier (such as the Falcon-9 SpaceX rocket) and delivering specific payloads into specific orbits along the route of the large rocket (which CAN NOT be accomplished solely by the rocket itself)
​
(See below in risks why I do not believe SpaceX will become a competitor)
​
\[SpaceX revamps smallsat rideshare program - SpaceNews\]([https://spacenews.com/spacex-revamps-smallsat-rideshare-program/](https://spacenews.com/spacex-revamps-smallsat-rideshare-program/))
“In addition to its expanded rideshare launch program, SpaceX also announced an agreement with in-space transportation company Momentus Aug. 22. Momentus will fly its Vigoride tug on a SpaceX dedicated rideshare mission, allowing satellites with a total mass of up to 250 kilograms to fly to custom orbits after deployment from the Falcon 9. SpaceX identified Momentus as its first customer for a dedicated rideshare mission.
“We are showing that ridesharing from the Falcon 9 will be a game-changer. By ferrying payloads to multiple orbits from a single launch, we multiply the capability of an already very impressive system,” said Mikhail Kokorich, chief executive of Momentus, in the statement announcing the agreement.”
​
​
\_\*“SpaceX partnership"\*\_ (in quotes for a reason)
Momentus has bought out space of several future SpaceX rocket launches. Depending on how their platform works out, and assuming success, we can expect a productive partnership with SpaceX. The company has made it clear they do not intend to enter Momentus’s market space and has said that Starlink is their main intent with sat launches.
Bummed you cant invest in SpaceX? Well as SpaceX continues to grow and drive so does Momentus. Larger rockets launching at cheaper prices mean better prices for a company who is buying out space on each launch. (Again please read risks at the bottom before commenting)
​
SpaceX currently plans to launch thousands of mass produced satellites into low Earth orbit in order to provide world-wide internet access.
\[Starlink - Wikipedia\]([https://en.wikipedia.org/wiki/Starlink](https://en.wikipedia.org/wiki/Starlink))
\[Starlink\]([https://www.starlink.com/](https://www.starlink.com/))
​
Reserve a payload launch with SpaceX for under 1M
\[SpaceX - Rideshare\]([https://www.spacex.com/rideshare/](https://www.spacex.com/rideshare/))
​
​
\*COMPANY CULTURE / TECH\*
Momentus has MIT / DARPA / engineering PHDs saturating their management team. (Think AMD instead of Boeing)
​
SIGNED contracts with NASA and Lockhead Martin
​
Patented water plasma propulsion technology (which has been tested and confirmed in space) that offers significantly better costs — this will fend off potential competition as it seems Momentus is not only first to market but has tech that allows them to undercut anyone entering their space.
Once these sats are in orbit it does not take huge rockets to move them (think about that space movie where Matt Damon launches himself with a fire extinguisher lol) Their main competition cannot compete on price as they use traditional rocket of chemical propulsion.
Their margins are projected to be an insane 75% in the future due to: large rocket launches reducing rideshare attachment costs, reusability of their propulsion system, and their water propulsion tech.
​
Possible interest from ARK invest
\[$SRAC Momentus, Sam Korus (ARK invest) and Elon Musk : SPACs\]([https://www.reddit.com/r/SPACs/comments/j6udzz/srac\_momentus\_sam\_korus\_ark\_invest\_and\_elon\_musk/](https://www.reddit.com/r/SPACs/comments/j6udzz/srac_momentus_sam_korus_ark_invest_and_elon_musk/))
​
Only 2 company reviews on GlassDoor
\[Momentus Space Salaries | Glassdoor\]([https://www.glassdoor.com/Salary/Momentus-Space-Salaries-E3120561.htm](https://www.glassdoor.com/Salary/Momentus-Space-Salaries-E3120561.htm))
​
​
\_\*LONG term potential\*\_
Company lists \*in-space mining\* and \*in-space renewable energy\* as long term growth opportunities. IF they are able to even mildly accomplish either of these feats, they will surely become a multi billion dollar company. \*\*\*Keep in mind this would be LOOOOONG term outlook and it could just be some bs they threw on the powerpoint to spark interest.
\[Space mining could create world’s first trillionaire - The Week\]([https://www.theweek.in/news/sci-tech/2018/04/23/space-mining-could-create-world-first-trillionaire.html#:\~:text=Exploiting%20the%20plentiful%20virgin%20natural,to%20Goldman%20Sachs%2C%20reports%20RT.)](https://www.theweek.in/news/sci-tech/2018/04/23/space-mining-could-create-world-first-trillionaire.html#:~:text=Exploiting%20the%20plentiful%20virgin%20natural,to%20Goldman%20Sachs%2C%20reports%20RT.))
​
Directly from their company page:
“Fervoride is expected to be a pathfinder for the prospecting and use of space resources such as water from the Moon and asteroids and a technology enabler for the largest moonshot opportunities like solar energy generation in space.”
​
To explain one idea for in-space renewable energy — Essentially the link below is a concept in which we would surround the sun or a star with a literal swarm of solar collectors that will provide us with an endless supply of energy by collecting the suns power (the sun shines with the energy of one hundred quintillion nuclear bombs per second) and beaming it wherever we want it.
\[How to Build a Dyson Sphere - The Ultimate Megastructure - YouTube\]([https://www.youtube.com/watch?v=pP44EPBMb8A](https://www.youtube.com/watch?v=pP44EPBMb8A))
​
​
\_\*FINANCIALS SNAP SHOT\*\_
Merger complete expected by early 2021
Post-transaction, Momentus will have \~$310M in cash to enhance operations, growth and path to profitability \* No additional capital needs expected prior to achieving profitability
​
Projecting 1.2B in revenue by 2024
​
\~75% existing Momentus shareholders, \~14% SPAC and founder shares, \~12% PIPE investors
​
90M in backlog orders /// 1B orders currently in negotiation
​
Projecting HUGE future margins of around 75%
​
​
\_\*RISKS\*\_
KEY RISK NUMBER ONE: No successful product as of yet, making this a highly speculative play. They plan to launch in December 2020. They have tested their water plasma tech in space.
This is a VERY early stage investment, just over a year ago this company employed only 10 people.
​
\*Perception\* of a weak SPAC investment team. It is critical to realize that just because SPAC teams enter the market with a target sector in mind DOES NOT mean that they are locked into this sector. Their main priority is to find a great business to take public. Switching sectors is actually fairly common for SPAC teams.
​
\*Perception\* of a weak CEO. Yes the man has worked in many fields unrelated to space. He has also worked in many fields related to space, it is just harder to find that information. Keep in mind (and I will let you do your own research here) what companies Musk was mainly known for when his own little rocket company was on the up and coming.
This CEO has ran many successful companies and attended the top physics program in Russia. (Not another Trevor Milton)
​
\[Kessler Syndrome: How space debris can destroy modern life - Big Think\]([https://bigthink.com/paul-ratner/how-the-kessler-syndrome-can-end-all-space-exploration-and-destroy-modern-life](https://bigthink.com/paul-ratner/how-the-kessler-syndrome-can-end-all-space-exploration-and-destroy-modern-life))
NASA experienced a small-scale Kessler Syndrome incident in the 1970s when Delta rockets that were left in orbit started to explode into shrapnel clouds. This inspired Kessler, an astrophysicist, to show that there is a point when the amount of debris in an orbit gets to critical mass. At that point, the collision cascading would start even if no more things are launched into space. And once the chain of explosions begins, it can keep going until the orbital space can no longer be used. According to NASA estimates, the Earth’s orbit currently has \[500,000 pieces of space debris\]([http://orbitaldebris.jsc.nasa.gov/faqs.html#3](http://orbitaldebris.jsc.nasa.gov/faqs.html#3)) up to 10cm long, over \*21,000\* pieces of debris longer than 10cm, and more than \*100 million pieces\* of space debris smaller than 1cm.
​
Quote from u/ \[Boring-End-6178\]([https://www.reddit.com/user/Boring-End-6178/](https://www.reddit.com/user/Boring-End-6178/)) regarding the risk of SpaceX becoming potential competition
"If your angle is if SpaceX focused their engineering capacity on integrating with their small-sat providers in order to launch satellite busses to get them into their proper orbits, then my answer would obviously be yes (though Momentus has great technology and patents around their water plasma tech, but I’m sure SpaceX could figure out something).
But for the reasons stated above, they won’t. This is a niche market compared to SpaceX’s aspirations. SpaceX is focused (and will achieve) inter-solar travel and colonizing a whole new planet. That is a gigantic task that even SpaceX is nowhere near capable of doing now. Their sole focus is achieving that goal (with Starlink being a cash flow means to an end which is a colossal project in itself). So yes, while SpaceX’s engineering talent dwarfs Momentus, their aspirations and goals dwarf Momentus’ just as much. This is simply not a focus for them."
​
Quote from u/ \[cincopea\]([https://www.reddit.com/user/cincopea/](https://www.reddit.com/user/cincopea/))
"Big rockets aka launch vehicles CANNOT (not WILL NOT. They CANNOT) go to a specific orbit for each little satellite inside their payload. SpaceX is NOT in the business of sending satellites to their mission, they are in the business of LAUNCHING them.
SpaceX doesn’t make pieces that other people can pick up and stick to their own devices, they make entire systems. That’s just their vision. It is a completely different scope of engineering and a completely different market. It’s like saying why doesn’t Boeing just make mail trucks—their cargo planes ship the mail overseas anyway, and that’s much more technically challenging. It is simply not the same business."
​
Video explanation of the Kessler syndrome
\[Kessler Syndrome | Space Junk - YouTube\]([https://www.youtube.com/watch?v=xgGm5odlIh4](https://www.youtube.com/watch?v=xgGm5odlIh4))
PERSONAL NOTE — This risk could actually be a huge plus, investor presentation mentions deorbiting sats as one of their services, and many sats that are currently in space right now are nonfunctional and need to be removed. Potential business opportunity.
​
​
​
​
\_\*Disclaimer\*\_
I am not a financial advisor. I do intend to open a position in this company. Do your own research because I am just some guy on the internet.
| 60 |
lord_v0ldemort
| 1,603,210,121 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/jesl25/srac_momentus_how_to_call_an_uber_for_your/
|
jesl25
|
g9g1d40
|
It's an interesting company but I'm not sold on the projections or the leadership. I held $1000 for a week after the ticker was released in case there was some buzz. Might be back if the market tanks and it stays near NAV.
| 6 |
FistEnergy
| 1,603,210,361 |
SRAC - Momentus : How to call an Uber for your satellite (my DD)
|
\_\*\*\*INVESTOR PRESENTATION\*\*\*\_ (please dear god read this)
[https://momentus.space/wp-content/uploads/2020/10/Momentus-Investor-Presentation-October-2020.pdf](https://momentus.space/wp-content/uploads/2020/10/Momentus-Investor-Presentation-October-2020.pdf)
​
\_\*MOMENTUS INVESTOR PAGE\*\_
\[Momentus to become public through merger with stable road acquisition - Momentus\]([https://momentus.space/investors/](https://momentus.space/investors/))
​
\_\*Investor call\*\_
\[Momentus Announcement Call - 1383495\]([https://viavid.webcasts.com/starthere.jsp?ei=1383495&tp\_key=4b6b555f1a](https://viavid.webcasts.com/starthere.jsp?ei=1383495&tp_key=4b6b555f1a))
​
​
Great video breakdown for those of you who hate reading
\[Momentus Space merging with SRAC Stock! A SPACE and SPAC Stock! MNTS Stock! - YouTube\]([https://www.youtube.com/watch?v=pfJ6BuGgAic](https://www.youtube.com/watch?v=pfJ6BuGgAic))
(I address the risks mentioned by the video in this report and I find them to be poorly thought out, but a great company breakdown otherwise)
​
​
\_\*KEY INVESTORS\*\_
Bill Ackman (There are others but I freaking love this guy he gets his own bulletpoint)
​
​
\_\*OUTLOOK\*\_
Explosion of the number of satellites being currently developed - this is due largely to the fact that SpaceX is dramatically reducing the cost of bringing a payload into orbit
“Why in the next decade companies will launch thousands more satellites than in all of history”
\[SpaceX, OneWeb and Amazon to launch thousands more satellites in 2020s\]([https://www.cnbc.com/2019/12/14/spacex-oneweb-and-amazon-to-launch-thousands-more-satellites-in-2020s.html](https://www.cnbc.com/2019/12/14/spacex-oneweb-and-amazon-to-launch-thousands-more-satellites-in-2020s.html))
​
We are on the cusp of an explosion of space technology as private companies such as SpaceX, BlueOrigin, and others compete over market share. This had led to drastic cost reductions in the cost to launch satellites.
Big players have announced the intention to launch as many as 46,100 satellites in the next few years. That’s more than five times the amount of objects sent to space in the past 60 years,”
​
Many of these these satellites will be launched into orbit by being attached to a large rocket (ride sharing) which itself has its own payload to deliver and agenda to fulfill. Momentus comes in by attaching a custom launch vehicle to the large payload carrier (such as the Falcon-9 SpaceX rocket) and delivering specific payloads into specific orbits along the route of the large rocket (which CAN NOT be accomplished solely by the rocket itself)
​
(See below in risks why I do not believe SpaceX will become a competitor)
​
\[SpaceX revamps smallsat rideshare program - SpaceNews\]([https://spacenews.com/spacex-revamps-smallsat-rideshare-program/](https://spacenews.com/spacex-revamps-smallsat-rideshare-program/))
“In addition to its expanded rideshare launch program, SpaceX also announced an agreement with in-space transportation company Momentus Aug. 22. Momentus will fly its Vigoride tug on a SpaceX dedicated rideshare mission, allowing satellites with a total mass of up to 250 kilograms to fly to custom orbits after deployment from the Falcon 9. SpaceX identified Momentus as its first customer for a dedicated rideshare mission.
“We are showing that ridesharing from the Falcon 9 will be a game-changer. By ferrying payloads to multiple orbits from a single launch, we multiply the capability of an already very impressive system,” said Mikhail Kokorich, chief executive of Momentus, in the statement announcing the agreement.”
​
​
\_\*“SpaceX partnership"\*\_ (in quotes for a reason)
Momentus has bought out space of several future SpaceX rocket launches. Depending on how their platform works out, and assuming success, we can expect a productive partnership with SpaceX. The company has made it clear they do not intend to enter Momentus’s market space and has said that Starlink is their main intent with sat launches.
Bummed you cant invest in SpaceX? Well as SpaceX continues to grow and drive so does Momentus. Larger rockets launching at cheaper prices mean better prices for a company who is buying out space on each launch. (Again please read risks at the bottom before commenting)
​
SpaceX currently plans to launch thousands of mass produced satellites into low Earth orbit in order to provide world-wide internet access.
\[Starlink - Wikipedia\]([https://en.wikipedia.org/wiki/Starlink](https://en.wikipedia.org/wiki/Starlink))
\[Starlink\]([https://www.starlink.com/](https://www.starlink.com/))
​
Reserve a payload launch with SpaceX for under 1M
\[SpaceX - Rideshare\]([https://www.spacex.com/rideshare/](https://www.spacex.com/rideshare/))
​
​
\*COMPANY CULTURE / TECH\*
Momentus has MIT / DARPA / engineering PHDs saturating their management team. (Think AMD instead of Boeing)
​
SIGNED contracts with NASA and Lockhead Martin
​
Patented water plasma propulsion technology (which has been tested and confirmed in space) that offers significantly better costs — this will fend off potential competition as it seems Momentus is not only first to market but has tech that allows them to undercut anyone entering their space.
Once these sats are in orbit it does not take huge rockets to move them (think about that space movie where Matt Damon launches himself with a fire extinguisher lol) Their main competition cannot compete on price as they use traditional rocket of chemical propulsion.
Their margins are projected to be an insane 75% in the future due to: large rocket launches reducing rideshare attachment costs, reusability of their propulsion system, and their water propulsion tech.
​
Possible interest from ARK invest
\[$SRAC Momentus, Sam Korus (ARK invest) and Elon Musk : SPACs\]([https://www.reddit.com/r/SPACs/comments/j6udzz/srac\_momentus\_sam\_korus\_ark\_invest\_and\_elon\_musk/](https://www.reddit.com/r/SPACs/comments/j6udzz/srac_momentus_sam_korus_ark_invest_and_elon_musk/))
​
Only 2 company reviews on GlassDoor
\[Momentus Space Salaries | Glassdoor\]([https://www.glassdoor.com/Salary/Momentus-Space-Salaries-E3120561.htm](https://www.glassdoor.com/Salary/Momentus-Space-Salaries-E3120561.htm))
​
​
\_\*LONG term potential\*\_
Company lists \*in-space mining\* and \*in-space renewable energy\* as long term growth opportunities. IF they are able to even mildly accomplish either of these feats, they will surely become a multi billion dollar company. \*\*\*Keep in mind this would be LOOOOONG term outlook and it could just be some bs they threw on the powerpoint to spark interest.
\[Space mining could create world’s first trillionaire - The Week\]([https://www.theweek.in/news/sci-tech/2018/04/23/space-mining-could-create-world-first-trillionaire.html#:\~:text=Exploiting%20the%20plentiful%20virgin%20natural,to%20Goldman%20Sachs%2C%20reports%20RT.)](https://www.theweek.in/news/sci-tech/2018/04/23/space-mining-could-create-world-first-trillionaire.html#:~:text=Exploiting%20the%20plentiful%20virgin%20natural,to%20Goldman%20Sachs%2C%20reports%20RT.))
​
Directly from their company page:
“Fervoride is expected to be a pathfinder for the prospecting and use of space resources such as water from the Moon and asteroids and a technology enabler for the largest moonshot opportunities like solar energy generation in space.”
​
To explain one idea for in-space renewable energy — Essentially the link below is a concept in which we would surround the sun or a star with a literal swarm of solar collectors that will provide us with an endless supply of energy by collecting the suns power (the sun shines with the energy of one hundred quintillion nuclear bombs per second) and beaming it wherever we want it.
\[How to Build a Dyson Sphere - The Ultimate Megastructure - YouTube\]([https://www.youtube.com/watch?v=pP44EPBMb8A](https://www.youtube.com/watch?v=pP44EPBMb8A))
​
​
\_\*FINANCIALS SNAP SHOT\*\_
Merger complete expected by early 2021
Post-transaction, Momentus will have \~$310M in cash to enhance operations, growth and path to profitability \* No additional capital needs expected prior to achieving profitability
​
Projecting 1.2B in revenue by 2024
​
\~75% existing Momentus shareholders, \~14% SPAC and founder shares, \~12% PIPE investors
​
90M in backlog orders /// 1B orders currently in negotiation
​
Projecting HUGE future margins of around 75%
​
​
\_\*RISKS\*\_
KEY RISK NUMBER ONE: No successful product as of yet, making this a highly speculative play. They plan to launch in December 2020. They have tested their water plasma tech in space.
This is a VERY early stage investment, just over a year ago this company employed only 10 people.
​
\*Perception\* of a weak SPAC investment team. It is critical to realize that just because SPAC teams enter the market with a target sector in mind DOES NOT mean that they are locked into this sector. Their main priority is to find a great business to take public. Switching sectors is actually fairly common for SPAC teams.
​
\*Perception\* of a weak CEO. Yes the man has worked in many fields unrelated to space. He has also worked in many fields related to space, it is just harder to find that information. Keep in mind (and I will let you do your own research here) what companies Musk was mainly known for when his own little rocket company was on the up and coming.
This CEO has ran many successful companies and attended the top physics program in Russia. (Not another Trevor Milton)
​
\[Kessler Syndrome: How space debris can destroy modern life - Big Think\]([https://bigthink.com/paul-ratner/how-the-kessler-syndrome-can-end-all-space-exploration-and-destroy-modern-life](https://bigthink.com/paul-ratner/how-the-kessler-syndrome-can-end-all-space-exploration-and-destroy-modern-life))
NASA experienced a small-scale Kessler Syndrome incident in the 1970s when Delta rockets that were left in orbit started to explode into shrapnel clouds. This inspired Kessler, an astrophysicist, to show that there is a point when the amount of debris in an orbit gets to critical mass. At that point, the collision cascading would start even if no more things are launched into space. And once the chain of explosions begins, it can keep going until the orbital space can no longer be used. According to NASA estimates, the Earth’s orbit currently has \[500,000 pieces of space debris\]([http://orbitaldebris.jsc.nasa.gov/faqs.html#3](http://orbitaldebris.jsc.nasa.gov/faqs.html#3)) up to 10cm long, over \*21,000\* pieces of debris longer than 10cm, and more than \*100 million pieces\* of space debris smaller than 1cm.
​
Quote from u/ \[Boring-End-6178\]([https://www.reddit.com/user/Boring-End-6178/](https://www.reddit.com/user/Boring-End-6178/)) regarding the risk of SpaceX becoming potential competition
"If your angle is if SpaceX focused their engineering capacity on integrating with their small-sat providers in order to launch satellite busses to get them into their proper orbits, then my answer would obviously be yes (though Momentus has great technology and patents around their water plasma tech, but I’m sure SpaceX could figure out something).
But for the reasons stated above, they won’t. This is a niche market compared to SpaceX’s aspirations. SpaceX is focused (and will achieve) inter-solar travel and colonizing a whole new planet. That is a gigantic task that even SpaceX is nowhere near capable of doing now. Their sole focus is achieving that goal (with Starlink being a cash flow means to an end which is a colossal project in itself). So yes, while SpaceX’s engineering talent dwarfs Momentus, their aspirations and goals dwarf Momentus’ just as much. This is simply not a focus for them."
​
Quote from u/ \[cincopea\]([https://www.reddit.com/user/cincopea/](https://www.reddit.com/user/cincopea/))
"Big rockets aka launch vehicles CANNOT (not WILL NOT. They CANNOT) go to a specific orbit for each little satellite inside their payload. SpaceX is NOT in the business of sending satellites to their mission, they are in the business of LAUNCHING them.
SpaceX doesn’t make pieces that other people can pick up and stick to their own devices, they make entire systems. That’s just their vision. It is a completely different scope of engineering and a completely different market. It’s like saying why doesn’t Boeing just make mail trucks—their cargo planes ship the mail overseas anyway, and that’s much more technically challenging. It is simply not the same business."
​
Video explanation of the Kessler syndrome
\[Kessler Syndrome | Space Junk - YouTube\]([https://www.youtube.com/watch?v=xgGm5odlIh4](https://www.youtube.com/watch?v=xgGm5odlIh4))
PERSONAL NOTE — This risk could actually be a huge plus, investor presentation mentions deorbiting sats as one of their services, and many sats that are currently in space right now are nonfunctional and need to be removed. Potential business opportunity.
​
​
​
​
\_\*Disclaimer\*\_
I am not a financial advisor. I do intend to open a position in this company. Do your own research because I am just some guy on the internet.
| 60 |
lord_v0ldemort
| 1,603,210,121 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/jesl25/srac_momentus_how_to_call_an_uber_for_your/
|
j5p0ok
|
g7tgtvg
|
I think the increased popularity of SPACs has attracted some of the "get rich quick" crowd and they don't tend to have patience. This crowd also tends to FOMO and get onto the bandwagon way too late. These are the people that bought bitcoin at $20k, NKLA at $90, and SHLL at $58 . No wonder they panic.
I have a few friends like this.... we all got into SHLL when it was sub $20. After the crazy ride up, they panic every time it's down 5%. Really?? We just rode this thing up over 100% and you panic over a couple point drop?? I don't personally understand it. To me there are two strategies for playing SPACs:
1 - Trading - Get in early and sell after hype. VTIQ / NKLA was a great example of this. Good to make money off of short term, but not a long term hold.
2- Investing - Legitimate long term investments - In my opinion SHLL/HYLN and FMCI fall into this category. If this is your strategy, then don't pay attention to the daily ups and downs because SPACs are extremely volatile.
| 54 |
chadsterlington
| 1,601,925,160 |
Confused to why y'all worried about Spacs dropping or not instantly taking off lately.
|
So I get that alot are you are here In this community and Spacs overall for some juicy short-term gains. But I'm surprised of the lot of you who are almost panicking that's Spacs are seeing a little resistance lately. Theres so many Spacs and opportunities that I'm actually viewing this as a positive and buying opportunity. Alot of Spacs I was interested in I feared were going take off before I even had a chance to build a small position. I would suggest some of you look more into long terms and possibility picking up the next Amazon, Google, Netflix right up off the ground floor. I'm taking a super long approach with short terms trades mixed in here and there. I'm happy for the dips and the stagnation ... More opportunities to load up on potential 5-10 baggers. If you take more of a Buffet approach there is nothing to worry about.
| 63 |
Typical_Republic
| 1,601,922,832 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/j5p0ok/confused_to_why_yall_worried_about_spacs_dropping/
|
j5p0ok
|
g7tdwu2
|
People come here thinking every SPAC is guaranteed to double after announcement, and every EV SPAC will perform like NKLA. "Deep DD" involves looking at investor presentations and pulling opinions out of your ass
| 40 |
iamagayrat
| 1,601,923,733 |
Confused to why y'all worried about Spacs dropping or not instantly taking off lately.
|
So I get that alot are you are here In this community and Spacs overall for some juicy short-term gains. But I'm surprised of the lot of you who are almost panicking that's Spacs are seeing a little resistance lately. Theres so many Spacs and opportunities that I'm actually viewing this as a positive and buying opportunity. Alot of Spacs I was interested in I feared were going take off before I even had a chance to build a small position. I would suggest some of you look more into long terms and possibility picking up the next Amazon, Google, Netflix right up off the ground floor. I'm taking a super long approach with short terms trades mixed in here and there. I'm happy for the dips and the stagnation ... More opportunities to load up on potential 5-10 baggers. If you take more of a Buffet approach there is nothing to worry about.
| 63 |
Typical_Republic
| 1,601,922,832 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/j5p0ok/confused_to_why_yall_worried_about_spacs_dropping/
|
j5p0ok
|
g7us6ay
|
I think recent developments in the SPAC space have rocked investor confidence and caused a shift in strategy:
1. CCXX dropping below NAV despite being close to merger - The pre-merger bump theory didn’t hold here despite the ‘track-record’ of Klein
2. VLDR/HYLN sell-off - Post-merger bump didn’t happen like many expected would. For VLDR, sell-off of unlocked PIPE shares seems to be the culprit but it could be due to other reasons (see 4).
3. Saturation caused by avalanche of new SPACs - Too many new SPACs caused money to be spread too thin, which increases volatility since trading volume for each SPAC becomes lower
4. NKLA scandal - This had a lasting ripple effect on all SPACs and led to Cramer bashing SPACs.
There are lessons to be learnt from these events and my personal opinion is:
1. Invest in only the elite management teams - There are good ones and there are great ones. With so many SPACs out there, choose only a handful of the best for your near-NAV bet. They might have a 10-20% premium but it’s worth it. You want the leaders to be younger, more visionary, with a portfolio of exciting companies and with great media presence, vs boomer billionaires who built their fortune decades ago.
2. Take profits. Take a percentage off every time there is a price bump. The space is volatile so things can turn on you very quickly.
| 5 |
SuperMagpies
| 1,601,948,864 |
Confused to why y'all worried about Spacs dropping or not instantly taking off lately.
|
So I get that alot are you are here In this community and Spacs overall for some juicy short-term gains. But I'm surprised of the lot of you who are almost panicking that's Spacs are seeing a little resistance lately. Theres so many Spacs and opportunities that I'm actually viewing this as a positive and buying opportunity. Alot of Spacs I was interested in I feared were going take off before I even had a chance to build a small position. I would suggest some of you look more into long terms and possibility picking up the next Amazon, Google, Netflix right up off the ground floor. I'm taking a super long approach with short terms trades mixed in here and there. I'm happy for the dips and the stagnation ... More opportunities to load up on potential 5-10 baggers. If you take more of a Buffet approach there is nothing to worry about.
| 63 |
Typical_Republic
| 1,601,922,832 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/j5p0ok/confused_to_why_yall_worried_about_spacs_dropping/
|
j5p0ok
|
g7u6ppl
|
You wanna know why that is? Head over to Fintwit, and you'll see the losers of the pennystock world have graduated to SPACs because:
\- they're "not that expensive compared to pennies"
\- "Tesla trades at $420 so Fisker is going to at least $75"
\- "Canoo has a conference planned so I'm expecting at least a 40% run-up"
And other various nuggets of absolute knowledge. I wish I was kidding.
| 9 |
Liquicity
| 1,601,936,819 |
Confused to why y'all worried about Spacs dropping or not instantly taking off lately.
|
So I get that alot are you are here In this community and Spacs overall for some juicy short-term gains. But I'm surprised of the lot of you who are almost panicking that's Spacs are seeing a little resistance lately. Theres so many Spacs and opportunities that I'm actually viewing this as a positive and buying opportunity. Alot of Spacs I was interested in I feared were going take off before I even had a chance to build a small position. I would suggest some of you look more into long terms and possibility picking up the next Amazon, Google, Netflix right up off the ground floor. I'm taking a super long approach with short terms trades mixed in here and there. I'm happy for the dips and the stagnation ... More opportunities to load up on potential 5-10 baggers. If you take more of a Buffet approach there is nothing to worry about.
| 63 |
Typical_Republic
| 1,601,922,832 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/j5p0ok/confused_to_why_yall_worried_about_spacs_dropping/
|
j5p0ok
|
g7th4d0
|
Yeah, if you’re panicking over these dips then that kinda shows you that you might have a bit too much invested into stocks. Always save money for these red days so you can have a nice shopping spree instead of being stressed that your portfolio is in the red.
| 7 |
SensitiveRocketsFan
| 1,601,925,296 |
Confused to why y'all worried about Spacs dropping or not instantly taking off lately.
|
So I get that alot are you are here In this community and Spacs overall for some juicy short-term gains. But I'm surprised of the lot of you who are almost panicking that's Spacs are seeing a little resistance lately. Theres so many Spacs and opportunities that I'm actually viewing this as a positive and buying opportunity. Alot of Spacs I was interested in I feared were going take off before I even had a chance to build a small position. I would suggest some of you look more into long terms and possibility picking up the next Amazon, Google, Netflix right up off the ground floor. I'm taking a super long approach with short terms trades mixed in here and there. I'm happy for the dips and the stagnation ... More opportunities to load up on potential 5-10 baggers. If you take more of a Buffet approach there is nothing to worry about.
| 63 |
Typical_Republic
| 1,601,922,832 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/j5p0ok/confused_to_why_yall_worried_about_spacs_dropping/
|
j5p0ok
|
g7th6y9
|
SPACs and IPOs are almost like a separate asset class. When the the broader market is perceived to be expensive (i.e. risk/reward not favorable), investors will move their money up to riskier asset classes to chase gains. Right now, Mr. Market is bullish for whatever reason.
"It will fluctuate."
| 5 |
amandahuggs
| 1,601,925,330 |
Confused to why y'all worried about Spacs dropping or not instantly taking off lately.
|
So I get that alot are you are here In this community and Spacs overall for some juicy short-term gains. But I'm surprised of the lot of you who are almost panicking that's Spacs are seeing a little resistance lately. Theres so many Spacs and opportunities that I'm actually viewing this as a positive and buying opportunity. Alot of Spacs I was interested in I feared were going take off before I even had a chance to build a small position. I would suggest some of you look more into long terms and possibility picking up the next Amazon, Google, Netflix right up off the ground floor. I'm taking a super long approach with short terms trades mixed in here and there. I'm happy for the dips and the stagnation ... More opportunities to load up on potential 5-10 baggers. If you take more of a Buffet approach there is nothing to worry about.
| 63 |
Typical_Republic
| 1,601,922,832 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/j5p0ok/confused_to_why_yall_worried_about_spacs_dropping/
|
ijy8qb
|
g3i862p
|
\> **is going to blast off in the next month**
Real shame to see actual DD marketed like some clickbait meme stock
| 5 |
Celodurismo
| 1,598,902,228 |
Why Lordstown Motors (DPHC) is the most legit EV play and is going to blast off in the next month
|
I was lucky enough to stumble upon DPHC one week ago, and have been all-in ever since. While I'm currently sitting at +25% already, I'm well committed to this one and plan to hold until the stock gets into $30s territory. I'm expecting that to happen within September.
The stock is trading at ridiculously lower multiples relative to others in the EV space (SHLL, Nikola) even though the company has much more to brag about and is actually much farther in their development timeline.
Lordstown Motors and their DPHC SPAC have already agreed on a merger, and the target date is in October, at which point we should see institutional investors pour in. Until then, through September, I'm confident we should see a run-up equivalent to others EV stocks such as SHLL & NKLA.
Final FYI, options aren't available yet but will be soon. Warrants are available for those who want more leverage, but I personally find the commons more attractive at the moment.
I've focused my DD on the reasons why I think the company is a winner, rather than their truck's specifications, but I've linked their Investors Brochure at the bottom where you can find a lot more about the truck itself, and their financials (such as pro-forma valuations).
\---------
**Their go-to-market strategy of targeting the commercial fleet market is the most profitable, most cost-efficient, and the fastest way to break into the EV market:**
* Large market, with customers that have incentives and budgets to switch to greener operations (*US Full-sized fleet pickup truck market estimated at $65bn*)
* Avoids complex retail sales network (*typically one of the trickier issues to solve for new OEMs*)
* Large order volumes with sticky contracts (*think USPS for ex*)
* Highly underserved market (*no EV-focused competitors targeting the space*)
* Lordstown’s Endurance truck is highly competitive versus traditional ICE (internal combustion engines) currently found in the commercial fleet market, with an estimated 5x better mileage equivalent vs. ICE pickup trucks, and 65% lower maintenance costs vs. ICE pickup trucks
​
**This company is legit, as proven by its world-class exec team & the institutions (GM, Fidelity, Blackrock) that are backing the company:**
Exec Team brings a combined 180+ years in EV and conventional OEM space:
* Steve Burns, CEO: *Co-founder and former CEO of Workhorse Group*
* John Lafleur, COO: *Former VP of Vehicle Programs at Workhorse*
* \- Rick Schmidt, CPO (production): *Leading force behind the design, conversion, and improvement of over 12 automotive plants including Tesla’s facility in Fremont, CA*
* Darren Post, Chief Eng. Officer: *30+ years in the OEM business, most recently developed Karma Automotive’s plug-in hybrid electric vehicle*
* John VO, Director of Propulsion: *former Head of Global Manufacturing for Tesla*
* Julio Rodriguez, CFO: *successfully coordinated multiple cap raises in the EV space*
Here are some of the investors (GM for $75M, the others for combined +$400M) that backed Lordstown in a funding round in parallel to their SPAC announcement:
* General Motors
* Fidelity
* BlackRock
* Wellington
* Federated Kaufmann
​
**With \~$1.4bn in pre-orders (!), their own manufacturing plant in Ohio (!), a drivable prototype that has completed virtual crash testing, Lordstown is on excellent path to begin deliveries in 2021:**
*Pre-orders Breakdown:*
\- Lordstown has already received \~27k pre-orders, with an average order size of \~300 trucks. Pretty validating sign. Amongst others, orders come from Clean Fuels Ohio, Duke Energy, FirstEnergy, GridX, ServPrq, Summit Petroleum Inc, and Turner Mining Group
\- If fulfilled, those pre-orders alone represent potential revenue sufficient to cover 2021 production and into 2022
*Why it matters that they have their own manufacturing plant in Ohio:*
* Lordstown acquired a 6.2M square foot former GM plant in Ohio, the same way Tesla had bought Toyota & GM’s Fresno plant in 2010 (known now as the Tesla Factory). The plant has a capacity of 600,00 vehicles per year and an estimated replacement value of +$3bn
* The plant is well equipped – it was most recently used to manufacture the Chevy Cruze – and requires only modest engineering and retooling to begin production (projected \~$120M across stamping, body shop, paint, battery packing, hub motor manufacturing, and general assembly; full cost breakdown included in their investor materials)
* Given the location of the plant, Lordstown is a candidate for a $37.5M grant from Jobs Ohio, while also being a candidate for \~250M loan under the federal Advanced Technology Vehicles Manufacturing (ATVM) Loan Program.
* The latter is the same loan that helped put Tesla on the map and is of particular interest here because of the political significance of Ohio as a swing state. Trump (unsuccessfully) promised in the past to save the GM Lordstown Ohio plant – the same one we’re discussing here – and last week Mike Pence visited the factory during the unveiling of Lordstown Motors’ new truck. Taking this into account, and given the importance of jobs in the area, and the importance of EVs as an eco-friendly space, it isn’t unrealistic to predict that Lordstown Motors could be eligible for the ATVM loan in the future, whether it’s from the administration of the next
* Finally, having a plant as they do is a clear edge and/or validating sign relative to others in their space. Indeed, Hyliion for ex. has no plant at all at the moment, and Fisker has no plant and is outsourcing manufacturing and supply chains to their OEM partner
*So what does the production timeline looks like now?*
* Per reminder, Lordstown has already achieved the following from a production perspective:
* Working prototype
* Completed virtual crash testing
* Key component supply secured through GM (they have access to GM’s parts catalogue which saves them months in design timing and millions in certification costs)
* Finalizing engineering and certification preparations
* Moving forward, Lordstown is targeting:
* Pre-production runs during Q3 & Q4 of this year
* Full production during Q1 & Q2 of next year
* Beginning deliveries in Q3 of next year
* The timeline is aggressive, and Covid probably doesn’t help, but it’s not unrealistic and the company has taken the right steps so far. If they can pull this off, they will be extremely well positioned relative to others in the EV Space (Ford & GM plan to have trucks but not before 2022, Nikola & Hyliion won’t begin deliveries before 2022 at best, Tesla’s Cybertruck is planned for 2021 as well but isn’t catering the same sector, and Rivian (which is the most legitimate competitor) has planned launch in 2021 as well but their timing has already been pushed out once and their focus will probably be on fulfilling Amazon’s large order for quite some time.
Investors Brochure:
[https://www.sec.gov/Archives/edgar/data/1759546/000121390020019762/ea124863ex99-2\_diamondpeak.htm](https://www.sec.gov/Archives/edgar/data/1759546/000121390020019762/ea124863ex99-2_diamondpeak.htm)
| 37 |
GothamByNight
| 1,598,881,489 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/ijy8qb/why_lordstown_motors_dphc_is_the_most_legit_ev/
|
ijy8qb
|
g3h40dy
|
Unfair comparing a car and passenger truck company to SHLL, unless they compete somehow that I do not immediately see? Does DPHC make a class 8 semi truck too? Makes your whole DD which is good look like hype/pump.
​
JMHO
| 14 |
StyleSufficient5334
| 1,598,886,644 |
Why Lordstown Motors (DPHC) is the most legit EV play and is going to blast off in the next month
|
I was lucky enough to stumble upon DPHC one week ago, and have been all-in ever since. While I'm currently sitting at +25% already, I'm well committed to this one and plan to hold until the stock gets into $30s territory. I'm expecting that to happen within September.
The stock is trading at ridiculously lower multiples relative to others in the EV space (SHLL, Nikola) even though the company has much more to brag about and is actually much farther in their development timeline.
Lordstown Motors and their DPHC SPAC have already agreed on a merger, and the target date is in October, at which point we should see institutional investors pour in. Until then, through September, I'm confident we should see a run-up equivalent to others EV stocks such as SHLL & NKLA.
Final FYI, options aren't available yet but will be soon. Warrants are available for those who want more leverage, but I personally find the commons more attractive at the moment.
I've focused my DD on the reasons why I think the company is a winner, rather than their truck's specifications, but I've linked their Investors Brochure at the bottom where you can find a lot more about the truck itself, and their financials (such as pro-forma valuations).
\---------
**Their go-to-market strategy of targeting the commercial fleet market is the most profitable, most cost-efficient, and the fastest way to break into the EV market:**
* Large market, with customers that have incentives and budgets to switch to greener operations (*US Full-sized fleet pickup truck market estimated at $65bn*)
* Avoids complex retail sales network (*typically one of the trickier issues to solve for new OEMs*)
* Large order volumes with sticky contracts (*think USPS for ex*)
* Highly underserved market (*no EV-focused competitors targeting the space*)
* Lordstown’s Endurance truck is highly competitive versus traditional ICE (internal combustion engines) currently found in the commercial fleet market, with an estimated 5x better mileage equivalent vs. ICE pickup trucks, and 65% lower maintenance costs vs. ICE pickup trucks
​
**This company is legit, as proven by its world-class exec team & the institutions (GM, Fidelity, Blackrock) that are backing the company:**
Exec Team brings a combined 180+ years in EV and conventional OEM space:
* Steve Burns, CEO: *Co-founder and former CEO of Workhorse Group*
* John Lafleur, COO: *Former VP of Vehicle Programs at Workhorse*
* \- Rick Schmidt, CPO (production): *Leading force behind the design, conversion, and improvement of over 12 automotive plants including Tesla’s facility in Fremont, CA*
* Darren Post, Chief Eng. Officer: *30+ years in the OEM business, most recently developed Karma Automotive’s plug-in hybrid electric vehicle*
* John VO, Director of Propulsion: *former Head of Global Manufacturing for Tesla*
* Julio Rodriguez, CFO: *successfully coordinated multiple cap raises in the EV space*
Here are some of the investors (GM for $75M, the others for combined +$400M) that backed Lordstown in a funding round in parallel to their SPAC announcement:
* General Motors
* Fidelity
* BlackRock
* Wellington
* Federated Kaufmann
​
**With \~$1.4bn in pre-orders (!), their own manufacturing plant in Ohio (!), a drivable prototype that has completed virtual crash testing, Lordstown is on excellent path to begin deliveries in 2021:**
*Pre-orders Breakdown:*
\- Lordstown has already received \~27k pre-orders, with an average order size of \~300 trucks. Pretty validating sign. Amongst others, orders come from Clean Fuels Ohio, Duke Energy, FirstEnergy, GridX, ServPrq, Summit Petroleum Inc, and Turner Mining Group
\- If fulfilled, those pre-orders alone represent potential revenue sufficient to cover 2021 production and into 2022
*Why it matters that they have their own manufacturing plant in Ohio:*
* Lordstown acquired a 6.2M square foot former GM plant in Ohio, the same way Tesla had bought Toyota & GM’s Fresno plant in 2010 (known now as the Tesla Factory). The plant has a capacity of 600,00 vehicles per year and an estimated replacement value of +$3bn
* The plant is well equipped – it was most recently used to manufacture the Chevy Cruze – and requires only modest engineering and retooling to begin production (projected \~$120M across stamping, body shop, paint, battery packing, hub motor manufacturing, and general assembly; full cost breakdown included in their investor materials)
* Given the location of the plant, Lordstown is a candidate for a $37.5M grant from Jobs Ohio, while also being a candidate for \~250M loan under the federal Advanced Technology Vehicles Manufacturing (ATVM) Loan Program.
* The latter is the same loan that helped put Tesla on the map and is of particular interest here because of the political significance of Ohio as a swing state. Trump (unsuccessfully) promised in the past to save the GM Lordstown Ohio plant – the same one we’re discussing here – and last week Mike Pence visited the factory during the unveiling of Lordstown Motors’ new truck. Taking this into account, and given the importance of jobs in the area, and the importance of EVs as an eco-friendly space, it isn’t unrealistic to predict that Lordstown Motors could be eligible for the ATVM loan in the future, whether it’s from the administration of the next
* Finally, having a plant as they do is a clear edge and/or validating sign relative to others in their space. Indeed, Hyliion for ex. has no plant at all at the moment, and Fisker has no plant and is outsourcing manufacturing and supply chains to their OEM partner
*So what does the production timeline looks like now?*
* Per reminder, Lordstown has already achieved the following from a production perspective:
* Working prototype
* Completed virtual crash testing
* Key component supply secured through GM (they have access to GM’s parts catalogue which saves them months in design timing and millions in certification costs)
* Finalizing engineering and certification preparations
* Moving forward, Lordstown is targeting:
* Pre-production runs during Q3 & Q4 of this year
* Full production during Q1 & Q2 of next year
* Beginning deliveries in Q3 of next year
* The timeline is aggressive, and Covid probably doesn’t help, but it’s not unrealistic and the company has taken the right steps so far. If they can pull this off, they will be extremely well positioned relative to others in the EV Space (Ford & GM plan to have trucks but not before 2022, Nikola & Hyliion won’t begin deliveries before 2022 at best, Tesla’s Cybertruck is planned for 2021 as well but isn’t catering the same sector, and Rivian (which is the most legitimate competitor) has planned launch in 2021 as well but their timing has already been pushed out once and their focus will probably be on fulfilling Amazon’s large order for quite some time.
Investors Brochure:
[https://www.sec.gov/Archives/edgar/data/1759546/000121390020019762/ea124863ex99-2\_diamondpeak.htm](https://www.sec.gov/Archives/edgar/data/1759546/000121390020019762/ea124863ex99-2_diamondpeak.htm)
| 37 |
GothamByNight
| 1,598,881,489 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/ijy8qb/why_lordstown_motors_dphc_is_the_most_legit_ev/
|
ijy8qb
|
g3grick
|
The fact they have a manufacturing plant alone puts them ahead of NKLA and Fisker
| 11 |
xCrossfirez
| 1,598,881,651 |
Why Lordstown Motors (DPHC) is the most legit EV play and is going to blast off in the next month
|
I was lucky enough to stumble upon DPHC one week ago, and have been all-in ever since. While I'm currently sitting at +25% already, I'm well committed to this one and plan to hold until the stock gets into $30s territory. I'm expecting that to happen within September.
The stock is trading at ridiculously lower multiples relative to others in the EV space (SHLL, Nikola) even though the company has much more to brag about and is actually much farther in their development timeline.
Lordstown Motors and their DPHC SPAC have already agreed on a merger, and the target date is in October, at which point we should see institutional investors pour in. Until then, through September, I'm confident we should see a run-up equivalent to others EV stocks such as SHLL & NKLA.
Final FYI, options aren't available yet but will be soon. Warrants are available for those who want more leverage, but I personally find the commons more attractive at the moment.
I've focused my DD on the reasons why I think the company is a winner, rather than their truck's specifications, but I've linked their Investors Brochure at the bottom where you can find a lot more about the truck itself, and their financials (such as pro-forma valuations).
\---------
**Their go-to-market strategy of targeting the commercial fleet market is the most profitable, most cost-efficient, and the fastest way to break into the EV market:**
* Large market, with customers that have incentives and budgets to switch to greener operations (*US Full-sized fleet pickup truck market estimated at $65bn*)
* Avoids complex retail sales network (*typically one of the trickier issues to solve for new OEMs*)
* Large order volumes with sticky contracts (*think USPS for ex*)
* Highly underserved market (*no EV-focused competitors targeting the space*)
* Lordstown’s Endurance truck is highly competitive versus traditional ICE (internal combustion engines) currently found in the commercial fleet market, with an estimated 5x better mileage equivalent vs. ICE pickup trucks, and 65% lower maintenance costs vs. ICE pickup trucks
​
**This company is legit, as proven by its world-class exec team & the institutions (GM, Fidelity, Blackrock) that are backing the company:**
Exec Team brings a combined 180+ years in EV and conventional OEM space:
* Steve Burns, CEO: *Co-founder and former CEO of Workhorse Group*
* John Lafleur, COO: *Former VP of Vehicle Programs at Workhorse*
* \- Rick Schmidt, CPO (production): *Leading force behind the design, conversion, and improvement of over 12 automotive plants including Tesla’s facility in Fremont, CA*
* Darren Post, Chief Eng. Officer: *30+ years in the OEM business, most recently developed Karma Automotive’s plug-in hybrid electric vehicle*
* John VO, Director of Propulsion: *former Head of Global Manufacturing for Tesla*
* Julio Rodriguez, CFO: *successfully coordinated multiple cap raises in the EV space*
Here are some of the investors (GM for $75M, the others for combined +$400M) that backed Lordstown in a funding round in parallel to their SPAC announcement:
* General Motors
* Fidelity
* BlackRock
* Wellington
* Federated Kaufmann
​
**With \~$1.4bn in pre-orders (!), their own manufacturing plant in Ohio (!), a drivable prototype that has completed virtual crash testing, Lordstown is on excellent path to begin deliveries in 2021:**
*Pre-orders Breakdown:*
\- Lordstown has already received \~27k pre-orders, with an average order size of \~300 trucks. Pretty validating sign. Amongst others, orders come from Clean Fuels Ohio, Duke Energy, FirstEnergy, GridX, ServPrq, Summit Petroleum Inc, and Turner Mining Group
\- If fulfilled, those pre-orders alone represent potential revenue sufficient to cover 2021 production and into 2022
*Why it matters that they have their own manufacturing plant in Ohio:*
* Lordstown acquired a 6.2M square foot former GM plant in Ohio, the same way Tesla had bought Toyota & GM’s Fresno plant in 2010 (known now as the Tesla Factory). The plant has a capacity of 600,00 vehicles per year and an estimated replacement value of +$3bn
* The plant is well equipped – it was most recently used to manufacture the Chevy Cruze – and requires only modest engineering and retooling to begin production (projected \~$120M across stamping, body shop, paint, battery packing, hub motor manufacturing, and general assembly; full cost breakdown included in their investor materials)
* Given the location of the plant, Lordstown is a candidate for a $37.5M grant from Jobs Ohio, while also being a candidate for \~250M loan under the federal Advanced Technology Vehicles Manufacturing (ATVM) Loan Program.
* The latter is the same loan that helped put Tesla on the map and is of particular interest here because of the political significance of Ohio as a swing state. Trump (unsuccessfully) promised in the past to save the GM Lordstown Ohio plant – the same one we’re discussing here – and last week Mike Pence visited the factory during the unveiling of Lordstown Motors’ new truck. Taking this into account, and given the importance of jobs in the area, and the importance of EVs as an eco-friendly space, it isn’t unrealistic to predict that Lordstown Motors could be eligible for the ATVM loan in the future, whether it’s from the administration of the next
* Finally, having a plant as they do is a clear edge and/or validating sign relative to others in their space. Indeed, Hyliion for ex. has no plant at all at the moment, and Fisker has no plant and is outsourcing manufacturing and supply chains to their OEM partner
*So what does the production timeline looks like now?*
* Per reminder, Lordstown has already achieved the following from a production perspective:
* Working prototype
* Completed virtual crash testing
* Key component supply secured through GM (they have access to GM’s parts catalogue which saves them months in design timing and millions in certification costs)
* Finalizing engineering and certification preparations
* Moving forward, Lordstown is targeting:
* Pre-production runs during Q3 & Q4 of this year
* Full production during Q1 & Q2 of next year
* Beginning deliveries in Q3 of next year
* The timeline is aggressive, and Covid probably doesn’t help, but it’s not unrealistic and the company has taken the right steps so far. If they can pull this off, they will be extremely well positioned relative to others in the EV Space (Ford & GM plan to have trucks but not before 2022, Nikola & Hyliion won’t begin deliveries before 2022 at best, Tesla’s Cybertruck is planned for 2021 as well but isn’t catering the same sector, and Rivian (which is the most legitimate competitor) has planned launch in 2021 as well but their timing has already been pushed out once and their focus will probably be on fulfilling Amazon’s large order for quite some time.
Investors Brochure:
[https://www.sec.gov/Archives/edgar/data/1759546/000121390020019762/ea124863ex99-2\_diamondpeak.htm](https://www.sec.gov/Archives/edgar/data/1759546/000121390020019762/ea124863ex99-2_diamondpeak.htm)
| 37 |
GothamByNight
| 1,598,881,489 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/ijy8qb/why_lordstown_motors_dphc_is_the_most_legit_ev/
|
ijy8qb
|
g3gu8bt
|
Great DD. You just forgot to mention that from the front it looks like a Kia Soul which is making it very hard for me to invest
| 9 |
alexanderflynn81
| 1,598,882,740 |
Why Lordstown Motors (DPHC) is the most legit EV play and is going to blast off in the next month
|
I was lucky enough to stumble upon DPHC one week ago, and have been all-in ever since. While I'm currently sitting at +25% already, I'm well committed to this one and plan to hold until the stock gets into $30s territory. I'm expecting that to happen within September.
The stock is trading at ridiculously lower multiples relative to others in the EV space (SHLL, Nikola) even though the company has much more to brag about and is actually much farther in their development timeline.
Lordstown Motors and their DPHC SPAC have already agreed on a merger, and the target date is in October, at which point we should see institutional investors pour in. Until then, through September, I'm confident we should see a run-up equivalent to others EV stocks such as SHLL & NKLA.
Final FYI, options aren't available yet but will be soon. Warrants are available for those who want more leverage, but I personally find the commons more attractive at the moment.
I've focused my DD on the reasons why I think the company is a winner, rather than their truck's specifications, but I've linked their Investors Brochure at the bottom where you can find a lot more about the truck itself, and their financials (such as pro-forma valuations).
\---------
**Their go-to-market strategy of targeting the commercial fleet market is the most profitable, most cost-efficient, and the fastest way to break into the EV market:**
* Large market, with customers that have incentives and budgets to switch to greener operations (*US Full-sized fleet pickup truck market estimated at $65bn*)
* Avoids complex retail sales network (*typically one of the trickier issues to solve for new OEMs*)
* Large order volumes with sticky contracts (*think USPS for ex*)
* Highly underserved market (*no EV-focused competitors targeting the space*)
* Lordstown’s Endurance truck is highly competitive versus traditional ICE (internal combustion engines) currently found in the commercial fleet market, with an estimated 5x better mileage equivalent vs. ICE pickup trucks, and 65% lower maintenance costs vs. ICE pickup trucks
​
**This company is legit, as proven by its world-class exec team & the institutions (GM, Fidelity, Blackrock) that are backing the company:**
Exec Team brings a combined 180+ years in EV and conventional OEM space:
* Steve Burns, CEO: *Co-founder and former CEO of Workhorse Group*
* John Lafleur, COO: *Former VP of Vehicle Programs at Workhorse*
* \- Rick Schmidt, CPO (production): *Leading force behind the design, conversion, and improvement of over 12 automotive plants including Tesla’s facility in Fremont, CA*
* Darren Post, Chief Eng. Officer: *30+ years in the OEM business, most recently developed Karma Automotive’s plug-in hybrid electric vehicle*
* John VO, Director of Propulsion: *former Head of Global Manufacturing for Tesla*
* Julio Rodriguez, CFO: *successfully coordinated multiple cap raises in the EV space*
Here are some of the investors (GM for $75M, the others for combined +$400M) that backed Lordstown in a funding round in parallel to their SPAC announcement:
* General Motors
* Fidelity
* BlackRock
* Wellington
* Federated Kaufmann
​
**With \~$1.4bn in pre-orders (!), their own manufacturing plant in Ohio (!), a drivable prototype that has completed virtual crash testing, Lordstown is on excellent path to begin deliveries in 2021:**
*Pre-orders Breakdown:*
\- Lordstown has already received \~27k pre-orders, with an average order size of \~300 trucks. Pretty validating sign. Amongst others, orders come from Clean Fuels Ohio, Duke Energy, FirstEnergy, GridX, ServPrq, Summit Petroleum Inc, and Turner Mining Group
\- If fulfilled, those pre-orders alone represent potential revenue sufficient to cover 2021 production and into 2022
*Why it matters that they have their own manufacturing plant in Ohio:*
* Lordstown acquired a 6.2M square foot former GM plant in Ohio, the same way Tesla had bought Toyota & GM’s Fresno plant in 2010 (known now as the Tesla Factory). The plant has a capacity of 600,00 vehicles per year and an estimated replacement value of +$3bn
* The plant is well equipped – it was most recently used to manufacture the Chevy Cruze – and requires only modest engineering and retooling to begin production (projected \~$120M across stamping, body shop, paint, battery packing, hub motor manufacturing, and general assembly; full cost breakdown included in their investor materials)
* Given the location of the plant, Lordstown is a candidate for a $37.5M grant from Jobs Ohio, while also being a candidate for \~250M loan under the federal Advanced Technology Vehicles Manufacturing (ATVM) Loan Program.
* The latter is the same loan that helped put Tesla on the map and is of particular interest here because of the political significance of Ohio as a swing state. Trump (unsuccessfully) promised in the past to save the GM Lordstown Ohio plant – the same one we’re discussing here – and last week Mike Pence visited the factory during the unveiling of Lordstown Motors’ new truck. Taking this into account, and given the importance of jobs in the area, and the importance of EVs as an eco-friendly space, it isn’t unrealistic to predict that Lordstown Motors could be eligible for the ATVM loan in the future, whether it’s from the administration of the next
* Finally, having a plant as they do is a clear edge and/or validating sign relative to others in their space. Indeed, Hyliion for ex. has no plant at all at the moment, and Fisker has no plant and is outsourcing manufacturing and supply chains to their OEM partner
*So what does the production timeline looks like now?*
* Per reminder, Lordstown has already achieved the following from a production perspective:
* Working prototype
* Completed virtual crash testing
* Key component supply secured through GM (they have access to GM’s parts catalogue which saves them months in design timing and millions in certification costs)
* Finalizing engineering and certification preparations
* Moving forward, Lordstown is targeting:
* Pre-production runs during Q3 & Q4 of this year
* Full production during Q1 & Q2 of next year
* Beginning deliveries in Q3 of next year
* The timeline is aggressive, and Covid probably doesn’t help, but it’s not unrealistic and the company has taken the right steps so far. If they can pull this off, they will be extremely well positioned relative to others in the EV Space (Ford & GM plan to have trucks but not before 2022, Nikola & Hyliion won’t begin deliveries before 2022 at best, Tesla’s Cybertruck is planned for 2021 as well but isn’t catering the same sector, and Rivian (which is the most legitimate competitor) has planned launch in 2021 as well but their timing has already been pushed out once and their focus will probably be on fulfilling Amazon’s large order for quite some time.
Investors Brochure:
[https://www.sec.gov/Archives/edgar/data/1759546/000121390020019762/ea124863ex99-2\_diamondpeak.htm](https://www.sec.gov/Archives/edgar/data/1759546/000121390020019762/ea124863ex99-2_diamondpeak.htm)
| 37 |
GothamByNight
| 1,598,881,489 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/ijy8qb/why_lordstown_motors_dphc_is_the_most_legit_ev/
|
i80yxi
|
g15gsmn
|
They're also still opening more chains even while COVID is going on, if that's not expansion then idk what is
| 14 |
lookingskyward_
| 1,597,184,945 |
”A burger joint is a terrible investment during a pandemic” - $OPES Bears
|
There were bears for McDonald’s in the 1970’s
SHAK is down 40% on the year. This scares many investors because this is the most comparable company to burgerfi. People feel SHAK’s decline is an indication of OPES revenue...
The -40% was due to one factor: COVID
Before COVID, $SHAK revenue was +22% in 2019 YoY. Truth is they are both burger joints but they both are adapting to COVID completely different.
Is a restaurant a good investment during a pandemic? Well Im pretty sure people still eat right? People get food from:
1. Grocery stores (cook @ home)
2. restaurants
So did grocery stores steal ALL food sales?
No, food retail is going up about 10%-20% thanks to COVID, but in no way are restaurant sales gone. Saying “burgerfi is a bad investment because it is a restaurant during a pandemic” is weak logic & ignores important factors
There was a good article on the impact COVID is having on the restaurant industry...
It says...
“A handful of restaurants have reported revenue growth during the global coronavirus pandemic, while others are struggling to get by. What separates the haves from the have-nots? ... Adaptability and an already established capacity to fill large numbers of to-go and delivery orders separate those who are succeeding from those who are struggling. Restaurants with loyal customers also found themselves better able to weather the storm.”
https://www.dispatch.com/business/20200614/coronavirus-why-are-some-restaurants-thriving-others-struggling?template=ampart
Does this not describe Burgerfi’s approach?
Burgerfi’s delivery sales are up 60% for the year, posting $10.9M revenue.
Delivery sales in general are at an all time high
No wonder Burgerfi is considered to be one of the “11 Restaurants Positioned to Endure the COVID Pandemic” https://www.qsrmagazine.com/content/11-restaurants-positioned-endure-covid-pandemic
Truth is some restaurants are well positioned; others aren’t. Business is survival of the fittest. You either adapt or die. Just like how blockbuster didn’t adapt online & died, but Netflix soared. JCPenny never adapted to e-commerce and died, but Shopify & Amazon are soaring. The restaurant industry is also becoming more e-commerce. Those who survive & thrive depends on their business decisions. Burgerfi has made amazing business moves. Simple as that.
Restaurants who don’t adapt to e-commerce will undoubtedly decline in sales because doors were/are closed... duh
This explains $SHAK’s decline. This only means there is less competition for the restaurants who did adapt, like Burgerfi
And no surprise Americans also like burgers. Burger joints are growing at around 11% annually. Compared to the restaurant industry growing roughly 4% annually.
Burgerfi is continuing to adapt & position themselves in the right place for hungry consumers.
Right now, the market is acting irrationally & not realizing the $OPES $OPESW opportunity
Paired with a new huge marketing campaign,
$OPES can have a serious run.
SOURCES:
https://www.dispatch.com/business/20200614/coronavirus-why-are-some-restaurants-thriving-others-struggling?template=ampart
https://www.qsrmagazine.com/content/11-restaurants-positioned-endure-covid-pandemic
| 42 |
dylancap02
| 1,597,182,695 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/i80yxi/a_burger_joint_is_a_terrible_investment_during_a/
|
i80yxi
|
g15ybsw
|
My second biggest position. Anyone who doesn’t see the value in a $1.90 warrant, in other words an option that is convertible for five years, long after the pandemic is over.... is a complete idiot
| 14 |
moonlava
| 1,597,193,685 |
”A burger joint is a terrible investment during a pandemic” - $OPES Bears
|
There were bears for McDonald’s in the 1970’s
SHAK is down 40% on the year. This scares many investors because this is the most comparable company to burgerfi. People feel SHAK’s decline is an indication of OPES revenue...
The -40% was due to one factor: COVID
Before COVID, $SHAK revenue was +22% in 2019 YoY. Truth is they are both burger joints but they both are adapting to COVID completely different.
Is a restaurant a good investment during a pandemic? Well Im pretty sure people still eat right? People get food from:
1. Grocery stores (cook @ home)
2. restaurants
So did grocery stores steal ALL food sales?
No, food retail is going up about 10%-20% thanks to COVID, but in no way are restaurant sales gone. Saying “burgerfi is a bad investment because it is a restaurant during a pandemic” is weak logic & ignores important factors
There was a good article on the impact COVID is having on the restaurant industry...
It says...
“A handful of restaurants have reported revenue growth during the global coronavirus pandemic, while others are struggling to get by. What separates the haves from the have-nots? ... Adaptability and an already established capacity to fill large numbers of to-go and delivery orders separate those who are succeeding from those who are struggling. Restaurants with loyal customers also found themselves better able to weather the storm.”
https://www.dispatch.com/business/20200614/coronavirus-why-are-some-restaurants-thriving-others-struggling?template=ampart
Does this not describe Burgerfi’s approach?
Burgerfi’s delivery sales are up 60% for the year, posting $10.9M revenue.
Delivery sales in general are at an all time high
No wonder Burgerfi is considered to be one of the “11 Restaurants Positioned to Endure the COVID Pandemic” https://www.qsrmagazine.com/content/11-restaurants-positioned-endure-covid-pandemic
Truth is some restaurants are well positioned; others aren’t. Business is survival of the fittest. You either adapt or die. Just like how blockbuster didn’t adapt online & died, but Netflix soared. JCPenny never adapted to e-commerce and died, but Shopify & Amazon are soaring. The restaurant industry is also becoming more e-commerce. Those who survive & thrive depends on their business decisions. Burgerfi has made amazing business moves. Simple as that.
Restaurants who don’t adapt to e-commerce will undoubtedly decline in sales because doors were/are closed... duh
This explains $SHAK’s decline. This only means there is less competition for the restaurants who did adapt, like Burgerfi
And no surprise Americans also like burgers. Burger joints are growing at around 11% annually. Compared to the restaurant industry growing roughly 4% annually.
Burgerfi is continuing to adapt & position themselves in the right place for hungry consumers.
Right now, the market is acting irrationally & not realizing the $OPES $OPESW opportunity
Paired with a new huge marketing campaign,
$OPES can have a serious run.
SOURCES:
https://www.dispatch.com/business/20200614/coronavirus-why-are-some-restaurants-thriving-others-struggling?template=ampart
https://www.qsrmagazine.com/content/11-restaurants-positioned-endure-covid-pandemic
| 42 |
dylancap02
| 1,597,182,695 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/i80yxi/a_burger_joint_is_a_terrible_investment_during_a/
|
i80yxi
|
g15i8au
|
I don’t have a huge position but I’m finally back to even on shares and about .40 upside down on warrants. Creeping up though. I’m holding until conversion and we’ll see how it goes. I actually like the ghost kitchen business model and I think it plays perfectly considering the COVID situation.
| 5 |
BK_Verbs
| 1,597,185,631 |
”A burger joint is a terrible investment during a pandemic” - $OPES Bears
|
There were bears for McDonald’s in the 1970’s
SHAK is down 40% on the year. This scares many investors because this is the most comparable company to burgerfi. People feel SHAK’s decline is an indication of OPES revenue...
The -40% was due to one factor: COVID
Before COVID, $SHAK revenue was +22% in 2019 YoY. Truth is they are both burger joints but they both are adapting to COVID completely different.
Is a restaurant a good investment during a pandemic? Well Im pretty sure people still eat right? People get food from:
1. Grocery stores (cook @ home)
2. restaurants
So did grocery stores steal ALL food sales?
No, food retail is going up about 10%-20% thanks to COVID, but in no way are restaurant sales gone. Saying “burgerfi is a bad investment because it is a restaurant during a pandemic” is weak logic & ignores important factors
There was a good article on the impact COVID is having on the restaurant industry...
It says...
“A handful of restaurants have reported revenue growth during the global coronavirus pandemic, while others are struggling to get by. What separates the haves from the have-nots? ... Adaptability and an already established capacity to fill large numbers of to-go and delivery orders separate those who are succeeding from those who are struggling. Restaurants with loyal customers also found themselves better able to weather the storm.”
https://www.dispatch.com/business/20200614/coronavirus-why-are-some-restaurants-thriving-others-struggling?template=ampart
Does this not describe Burgerfi’s approach?
Burgerfi’s delivery sales are up 60% for the year, posting $10.9M revenue.
Delivery sales in general are at an all time high
No wonder Burgerfi is considered to be one of the “11 Restaurants Positioned to Endure the COVID Pandemic” https://www.qsrmagazine.com/content/11-restaurants-positioned-endure-covid-pandemic
Truth is some restaurants are well positioned; others aren’t. Business is survival of the fittest. You either adapt or die. Just like how blockbuster didn’t adapt online & died, but Netflix soared. JCPenny never adapted to e-commerce and died, but Shopify & Amazon are soaring. The restaurant industry is also becoming more e-commerce. Those who survive & thrive depends on their business decisions. Burgerfi has made amazing business moves. Simple as that.
Restaurants who don’t adapt to e-commerce will undoubtedly decline in sales because doors were/are closed... duh
This explains $SHAK’s decline. This only means there is less competition for the restaurants who did adapt, like Burgerfi
And no surprise Americans also like burgers. Burger joints are growing at around 11% annually. Compared to the restaurant industry growing roughly 4% annually.
Burgerfi is continuing to adapt & position themselves in the right place for hungry consumers.
Right now, the market is acting irrationally & not realizing the $OPES $OPESW opportunity
Paired with a new huge marketing campaign,
$OPES can have a serious run.
SOURCES:
https://www.dispatch.com/business/20200614/coronavirus-why-are-some-restaurants-thriving-others-struggling?template=ampart
https://www.qsrmagazine.com/content/11-restaurants-positioned-endure-covid-pandemic
| 42 |
dylancap02
| 1,597,182,695 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/i80yxi/a_burger_joint_is_a_terrible_investment_during_a/
|
i80yxi
|
g172x0t
|
If you're an I investor in OPES and haven't went down to your local burgerfi shame on you
| 5 |
in-TORO
| 1,597,222,013 |
”A burger joint is a terrible investment during a pandemic” - $OPES Bears
|
There were bears for McDonald’s in the 1970’s
SHAK is down 40% on the year. This scares many investors because this is the most comparable company to burgerfi. People feel SHAK’s decline is an indication of OPES revenue...
The -40% was due to one factor: COVID
Before COVID, $SHAK revenue was +22% in 2019 YoY. Truth is they are both burger joints but they both are adapting to COVID completely different.
Is a restaurant a good investment during a pandemic? Well Im pretty sure people still eat right? People get food from:
1. Grocery stores (cook @ home)
2. restaurants
So did grocery stores steal ALL food sales?
No, food retail is going up about 10%-20% thanks to COVID, but in no way are restaurant sales gone. Saying “burgerfi is a bad investment because it is a restaurant during a pandemic” is weak logic & ignores important factors
There was a good article on the impact COVID is having on the restaurant industry...
It says...
“A handful of restaurants have reported revenue growth during the global coronavirus pandemic, while others are struggling to get by. What separates the haves from the have-nots? ... Adaptability and an already established capacity to fill large numbers of to-go and delivery orders separate those who are succeeding from those who are struggling. Restaurants with loyal customers also found themselves better able to weather the storm.”
https://www.dispatch.com/business/20200614/coronavirus-why-are-some-restaurants-thriving-others-struggling?template=ampart
Does this not describe Burgerfi’s approach?
Burgerfi’s delivery sales are up 60% for the year, posting $10.9M revenue.
Delivery sales in general are at an all time high
No wonder Burgerfi is considered to be one of the “11 Restaurants Positioned to Endure the COVID Pandemic” https://www.qsrmagazine.com/content/11-restaurants-positioned-endure-covid-pandemic
Truth is some restaurants are well positioned; others aren’t. Business is survival of the fittest. You either adapt or die. Just like how blockbuster didn’t adapt online & died, but Netflix soared. JCPenny never adapted to e-commerce and died, but Shopify & Amazon are soaring. The restaurant industry is also becoming more e-commerce. Those who survive & thrive depends on their business decisions. Burgerfi has made amazing business moves. Simple as that.
Restaurants who don’t adapt to e-commerce will undoubtedly decline in sales because doors were/are closed... duh
This explains $SHAK’s decline. This only means there is less competition for the restaurants who did adapt, like Burgerfi
And no surprise Americans also like burgers. Burger joints are growing at around 11% annually. Compared to the restaurant industry growing roughly 4% annually.
Burgerfi is continuing to adapt & position themselves in the right place for hungry consumers.
Right now, the market is acting irrationally & not realizing the $OPES $OPESW opportunity
Paired with a new huge marketing campaign,
$OPES can have a serious run.
SOURCES:
https://www.dispatch.com/business/20200614/coronavirus-why-are-some-restaurants-thriving-others-struggling?template=ampart
https://www.qsrmagazine.com/content/11-restaurants-positioned-endure-covid-pandemic
| 42 |
dylancap02
| 1,597,182,695 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/i80yxi/a_burger_joint_is_a_terrible_investment_during_a/
|
i80yxi
|
g1d71e2
|
I will say this. This will turn out to be a great investment for me. I am holding for years not year. People must remember that this is not a fine dining space.People still need to eat and America loves burgers. If Burgerfi continues to execute with their strategy, they will be very successful. I did not buy this for selling at 20% profit. I am in the game for long term.
Side note and off topic. When I attended business school, a professor mentioned that there were two kids who worked on a group project to start a restaurant selling chicken fingers, etc. One of them got a C and another got an F, because that professor questioned the differentiating aspect of their restaurant, when McD and BKNG exist already. The kids started the fast food place anyway. In 20 years they expanded to 34 cities. I won't name the chain and it's not public--but I know that with a great business plan, one can be successful. I am sold on Burgerfi. If I see them falter at any point in the next few years, I will off board the train but until then I am invested.
| 5 |
clicknbait
| 1,597,349,958 |
”A burger joint is a terrible investment during a pandemic” - $OPES Bears
|
There were bears for McDonald’s in the 1970’s
SHAK is down 40% on the year. This scares many investors because this is the most comparable company to burgerfi. People feel SHAK’s decline is an indication of OPES revenue...
The -40% was due to one factor: COVID
Before COVID, $SHAK revenue was +22% in 2019 YoY. Truth is they are both burger joints but they both are adapting to COVID completely different.
Is a restaurant a good investment during a pandemic? Well Im pretty sure people still eat right? People get food from:
1. Grocery stores (cook @ home)
2. restaurants
So did grocery stores steal ALL food sales?
No, food retail is going up about 10%-20% thanks to COVID, but in no way are restaurant sales gone. Saying “burgerfi is a bad investment because it is a restaurant during a pandemic” is weak logic & ignores important factors
There was a good article on the impact COVID is having on the restaurant industry...
It says...
“A handful of restaurants have reported revenue growth during the global coronavirus pandemic, while others are struggling to get by. What separates the haves from the have-nots? ... Adaptability and an already established capacity to fill large numbers of to-go and delivery orders separate those who are succeeding from those who are struggling. Restaurants with loyal customers also found themselves better able to weather the storm.”
https://www.dispatch.com/business/20200614/coronavirus-why-are-some-restaurants-thriving-others-struggling?template=ampart
Does this not describe Burgerfi’s approach?
Burgerfi’s delivery sales are up 60% for the year, posting $10.9M revenue.
Delivery sales in general are at an all time high
No wonder Burgerfi is considered to be one of the “11 Restaurants Positioned to Endure the COVID Pandemic” https://www.qsrmagazine.com/content/11-restaurants-positioned-endure-covid-pandemic
Truth is some restaurants are well positioned; others aren’t. Business is survival of the fittest. You either adapt or die. Just like how blockbuster didn’t adapt online & died, but Netflix soared. JCPenny never adapted to e-commerce and died, but Shopify & Amazon are soaring. The restaurant industry is also becoming more e-commerce. Those who survive & thrive depends on their business decisions. Burgerfi has made amazing business moves. Simple as that.
Restaurants who don’t adapt to e-commerce will undoubtedly decline in sales because doors were/are closed... duh
This explains $SHAK’s decline. This only means there is less competition for the restaurants who did adapt, like Burgerfi
And no surprise Americans also like burgers. Burger joints are growing at around 11% annually. Compared to the restaurant industry growing roughly 4% annually.
Burgerfi is continuing to adapt & position themselves in the right place for hungry consumers.
Right now, the market is acting irrationally & not realizing the $OPES $OPESW opportunity
Paired with a new huge marketing campaign,
$OPES can have a serious run.
SOURCES:
https://www.dispatch.com/business/20200614/coronavirus-why-are-some-restaurants-thriving-others-struggling?template=ampart
https://www.qsrmagazine.com/content/11-restaurants-positioned-endure-covid-pandemic
| 42 |
dylancap02
| 1,597,182,695 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/i80yxi/a_burger_joint_is_a_terrible_investment_during_a/
|
hvj060
|
fyu5j6g
|
Couldn't agree more.
There is still a correct way to play it, but it's annoyingly complex and does require fairly good timing.
Like you said:
There's generally a pump on the announcement, then it goes back down about 50%.
Then, for the good ones, as it gets close to the merger, it doubles again... then triples after the merge.
If warrants haven't hit $4 - $5 by the merge, I'd stay far far away.
I think CCXX warrants will settle at $3.00 or so until closer to the merge, then $5 or $6 before the merge, then I bet it'll hit $30 - $50 within a couple months after the merge.
Same with GRAF. Same with SPAQ.
But if these doesn't hit at least $4 warrants at the merge, I'm out and I'm going to assume they will tank, like DMS, FREE, HOFV, etc.
At that point you might as well play earnings, like any stock.
| 11 |
karmalizing
| 1,595,388,628 |
SPAC Bagholders Support Group
|
Let's face it - bagholding is kind of a reality of playing SPACs post-announcement.
***1.) Getting in early isn't always as easy as it sounds.*** There are a lot of SPACs. The warrants in the "good SPACs" are at expensive premiums. They are almost too hyped to get significant cheap positions in every one early enough to catch the initial merger announcement rise. At these inflated prices, you're just as likely to quickly sink below your cost post-announcement (cough\*ccxx\*cough).
You also can't really time them to try to be "strategic" about which you invest in - it may be two years out, or they could announce tomorrow. Or even after two years out they're asking for extensions because they're still looking.
While commons DO grant investors a nice wall of downside protection, they can also very well leave patient investors waiting with your money for years with gains that still lose to the market:
12 of the 20 SPACs with announced partners are trading at under $11, 15 at under $12. If get in right at $10, wait two years and end up walking away with $11, that's 10% gains, while two years in SPY at 7% annual returns (14.5% over 2 years) is still better money. And getting in at $10 and walking away with $11 is a GOOD scenario, because:
***2.) SPAC realities aren't rosy enough to merit blindly throwing too much money around at unknown investments you can't really do due diligence on***\*\*.\*\*
* Commons typically trade above $10. The median commons share price for unannounced SPACs right now is $10.30. The median post-LOI announcement commons price is $10.65 right now. That means the unnannounced are trading at $.35 less than announced. That's unimpressive returns for an investment you might have to wait years on.
* Most SPACs sink post merger.
* 20% of SPACs don't find a merger partner, rendering warrants void and might leave you at a loss if you bought commons over the liquidation payout price.
* Probably about 20-30% of SPACs should be avoided in the first place. Chinese and weed SPACs especially have a long track record of failure, others are looking in industries that aren't good or have management teams with little to no credible experience.
* Even announced mergers failing happens too. Look at TGI Friday, Chuck E. Cheese, or the most recent, Gateway Casinos (LACQ).
***3.) Merger announcements are going to be pump and dumps:*** Day traders live and breathe on this stuff, will probably see the news quicker than those of us who don't spend all our time on Stocktwits, and who have day jobs and family obligations, etc. The day traders know how to time the pumps and the dumps better than us average retail investors with day jobs, as they can watch the price movement nonstop. Most of the movement often happens in pre- and post-market, with rapid dropoffs during normal market hours. They take their profits, get out quick and leave us rubes who saw the announcement a bit late and bought in because we liked the announcement holding the bags on the dump
***4.) It's hard to do due diligence fast enough during the pump to know whether you're buying into a good company or not.*** Even a company with good name recognition going the SPAC route could be in financial distress and looking to raise capital to maintain operations. It's hard to get the full picture to safely go big or go home fast enough to make big returns on the initial pump without being caught with bigger bags. And again, a lot of us have day jobs so can't drop work to spend hours researching the merger partner.
***5.) The market is volatile right now.*** This makes speculative investments like SPACs and even more speculative investments like warrants more volatile. If you're in this, you should prepare yourself for volatility. SPACs are not for the weak of spirit. Go buy Amazon or SPY if you can't live with the swings.
***6.) Even the very best SPACs have a slump period between announcement and merger date.*** VTIQ peaked at $14.70 at the Nikola merger announcement, then sunk back to $10.50, sitting between $10.50-12 for a while while the market went through it's COVID turbulence. It took two months for it to get back to it's announcement peak, when the merger date was announced and activity progressed. We all know what happened from there with NKLA going public and hitting as high as $90.
The day traders playing the initial pump hard are not long-term hold types. They don't care that this stock will be worth $70 in 5 months if they're going to end up holding underwater bags for the next two. They are pros who want to use their money in the interim instead of being patient. And a lot of the more experienced SPAC investors also take profits and plan to come back and buy back in closer to merge date after doing more DD because they know the down period slump is coming. A lot of weak hands bagholders panic during the slump and sell at a loss, thus compounding the panic for other bagholders. A lot more start pining for greener pastures and hotter plays as the merger news grows stale with no new developments, and are willing to sell at a loss to try to make up their losses elsewhere.
**7.) You often can't perfectly time SPAC announcements and rumors in advance, and selling at a loss is psychological barrier to buying back in.** If you sold out VTIQ at $11 during the down period because you were holding bags down 27%, you'd have probably missed out on the gap back up and thus lost more money than you needed to - if you ever got back in at all. At a certain point you may feel the price is "too rich" and your pride will be hurt by paying more than you bought initially after selling for a big loss.
**And here's the point:** If your full DD shows you got into the wrong deal or something has fundamentally changed besides your own psychological distress, impatience, FOMO on other plays and disappointment in the price action, cutting some losses might be a good idea. If you still believe in the stock as an investment for the same reasons you bought into it, and there is no news to suggest the merger is in trouble, your bags will likely be alleviated and then some within a few months. Barring some can't-miss play that will make up your loss and then some, just stay patient - in fact DCA so your cost basis gets lower and you feel less stressed out.
It's likely the excitement that pushed the stock to wherever it got post-announcement that you bought into will return when it's going to be a real merger and not just a distant, abstract, non-binding agreement.
| 50 |
devilmaskrascal
| 1,595,376,035 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/hvj060/spac_bagholders_support_group/
|
hvj060
|
fytomp5
|
TL;DR: Getting in early on the right play is hard for most normal investors, and many who buy in post-announcement on stocks they love will be caught holding bags as day traders and old hands cash out on the pump and weak hands cash out on the dump, as news grows stale and the stock/warrant prices slump. As long as nothing has fundamentally changed about the merger or investment's long term prospects, you have to learn to live with your bags for a few months but should be rewarded for your patience by catching the gap up. Lower your cost basis in the interim, and don't FOMO next time.
| 6 |
devilmaskrascal
| 1,595,378,448 |
SPAC Bagholders Support Group
|
Let's face it - bagholding is kind of a reality of playing SPACs post-announcement.
***1.) Getting in early isn't always as easy as it sounds.*** There are a lot of SPACs. The warrants in the "good SPACs" are at expensive premiums. They are almost too hyped to get significant cheap positions in every one early enough to catch the initial merger announcement rise. At these inflated prices, you're just as likely to quickly sink below your cost post-announcement (cough\*ccxx\*cough).
You also can't really time them to try to be "strategic" about which you invest in - it may be two years out, or they could announce tomorrow. Or even after two years out they're asking for extensions because they're still looking.
While commons DO grant investors a nice wall of downside protection, they can also very well leave patient investors waiting with your money for years with gains that still lose to the market:
12 of the 20 SPACs with announced partners are trading at under $11, 15 at under $12. If get in right at $10, wait two years and end up walking away with $11, that's 10% gains, while two years in SPY at 7% annual returns (14.5% over 2 years) is still better money. And getting in at $10 and walking away with $11 is a GOOD scenario, because:
***2.) SPAC realities aren't rosy enough to merit blindly throwing too much money around at unknown investments you can't really do due diligence on***\*\*.\*\*
* Commons typically trade above $10. The median commons share price for unannounced SPACs right now is $10.30. The median post-LOI announcement commons price is $10.65 right now. That means the unnannounced are trading at $.35 less than announced. That's unimpressive returns for an investment you might have to wait years on.
* Most SPACs sink post merger.
* 20% of SPACs don't find a merger partner, rendering warrants void and might leave you at a loss if you bought commons over the liquidation payout price.
* Probably about 20-30% of SPACs should be avoided in the first place. Chinese and weed SPACs especially have a long track record of failure, others are looking in industries that aren't good or have management teams with little to no credible experience.
* Even announced mergers failing happens too. Look at TGI Friday, Chuck E. Cheese, or the most recent, Gateway Casinos (LACQ).
***3.) Merger announcements are going to be pump and dumps:*** Day traders live and breathe on this stuff, will probably see the news quicker than those of us who don't spend all our time on Stocktwits, and who have day jobs and family obligations, etc. The day traders know how to time the pumps and the dumps better than us average retail investors with day jobs, as they can watch the price movement nonstop. Most of the movement often happens in pre- and post-market, with rapid dropoffs during normal market hours. They take their profits, get out quick and leave us rubes who saw the announcement a bit late and bought in because we liked the announcement holding the bags on the dump
***4.) It's hard to do due diligence fast enough during the pump to know whether you're buying into a good company or not.*** Even a company with good name recognition going the SPAC route could be in financial distress and looking to raise capital to maintain operations. It's hard to get the full picture to safely go big or go home fast enough to make big returns on the initial pump without being caught with bigger bags. And again, a lot of us have day jobs so can't drop work to spend hours researching the merger partner.
***5.) The market is volatile right now.*** This makes speculative investments like SPACs and even more speculative investments like warrants more volatile. If you're in this, you should prepare yourself for volatility. SPACs are not for the weak of spirit. Go buy Amazon or SPY if you can't live with the swings.
***6.) Even the very best SPACs have a slump period between announcement and merger date.*** VTIQ peaked at $14.70 at the Nikola merger announcement, then sunk back to $10.50, sitting between $10.50-12 for a while while the market went through it's COVID turbulence. It took two months for it to get back to it's announcement peak, when the merger date was announced and activity progressed. We all know what happened from there with NKLA going public and hitting as high as $90.
The day traders playing the initial pump hard are not long-term hold types. They don't care that this stock will be worth $70 in 5 months if they're going to end up holding underwater bags for the next two. They are pros who want to use their money in the interim instead of being patient. And a lot of the more experienced SPAC investors also take profits and plan to come back and buy back in closer to merge date after doing more DD because they know the down period slump is coming. A lot of weak hands bagholders panic during the slump and sell at a loss, thus compounding the panic for other bagholders. A lot more start pining for greener pastures and hotter plays as the merger news grows stale with no new developments, and are willing to sell at a loss to try to make up their losses elsewhere.
**7.) You often can't perfectly time SPAC announcements and rumors in advance, and selling at a loss is psychological barrier to buying back in.** If you sold out VTIQ at $11 during the down period because you were holding bags down 27%, you'd have probably missed out on the gap back up and thus lost more money than you needed to - if you ever got back in at all. At a certain point you may feel the price is "too rich" and your pride will be hurt by paying more than you bought initially after selling for a big loss.
**And here's the point:** If your full DD shows you got into the wrong deal or something has fundamentally changed besides your own psychological distress, impatience, FOMO on other plays and disappointment in the price action, cutting some losses might be a good idea. If you still believe in the stock as an investment for the same reasons you bought into it, and there is no news to suggest the merger is in trouble, your bags will likely be alleviated and then some within a few months. Barring some can't-miss play that will make up your loss and then some, just stay patient - in fact DCA so your cost basis gets lower and you feel less stressed out.
It's likely the excitement that pushed the stock to wherever it got post-announcement that you bought into will return when it's going to be a real merger and not just a distant, abstract, non-binding agreement.
| 50 |
devilmaskrascal
| 1,595,376,035 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/hvj060/spac_bagholders_support_group/
|
hvj060
|
fyv0evm
|
It’s all about the quality of the company being targeted. They fit into two categories you want. Spec (small or no revenue but big hype SPCE NKLA SHLL SPAQ) or investment grade (CAGR > 30% DKNG FMCI OPES LCA). If it doesn’t meet either of those criteria stay away.
FREE and HOFV didn’t meet either. Have there been any SPACs with > 30% CAGR that have tanked post merger?
| 7 |
Matt1701D
| 1,595,415,888 |
SPAC Bagholders Support Group
|
Let's face it - bagholding is kind of a reality of playing SPACs post-announcement.
***1.) Getting in early isn't always as easy as it sounds.*** There are a lot of SPACs. The warrants in the "good SPACs" are at expensive premiums. They are almost too hyped to get significant cheap positions in every one early enough to catch the initial merger announcement rise. At these inflated prices, you're just as likely to quickly sink below your cost post-announcement (cough\*ccxx\*cough).
You also can't really time them to try to be "strategic" about which you invest in - it may be two years out, or they could announce tomorrow. Or even after two years out they're asking for extensions because they're still looking.
While commons DO grant investors a nice wall of downside protection, they can also very well leave patient investors waiting with your money for years with gains that still lose to the market:
12 of the 20 SPACs with announced partners are trading at under $11, 15 at under $12. If get in right at $10, wait two years and end up walking away with $11, that's 10% gains, while two years in SPY at 7% annual returns (14.5% over 2 years) is still better money. And getting in at $10 and walking away with $11 is a GOOD scenario, because:
***2.) SPAC realities aren't rosy enough to merit blindly throwing too much money around at unknown investments you can't really do due diligence on***\*\*.\*\*
* Commons typically trade above $10. The median commons share price for unannounced SPACs right now is $10.30. The median post-LOI announcement commons price is $10.65 right now. That means the unnannounced are trading at $.35 less than announced. That's unimpressive returns for an investment you might have to wait years on.
* Most SPACs sink post merger.
* 20% of SPACs don't find a merger partner, rendering warrants void and might leave you at a loss if you bought commons over the liquidation payout price.
* Probably about 20-30% of SPACs should be avoided in the first place. Chinese and weed SPACs especially have a long track record of failure, others are looking in industries that aren't good or have management teams with little to no credible experience.
* Even announced mergers failing happens too. Look at TGI Friday, Chuck E. Cheese, or the most recent, Gateway Casinos (LACQ).
***3.) Merger announcements are going to be pump and dumps:*** Day traders live and breathe on this stuff, will probably see the news quicker than those of us who don't spend all our time on Stocktwits, and who have day jobs and family obligations, etc. The day traders know how to time the pumps and the dumps better than us average retail investors with day jobs, as they can watch the price movement nonstop. Most of the movement often happens in pre- and post-market, with rapid dropoffs during normal market hours. They take their profits, get out quick and leave us rubes who saw the announcement a bit late and bought in because we liked the announcement holding the bags on the dump
***4.) It's hard to do due diligence fast enough during the pump to know whether you're buying into a good company or not.*** Even a company with good name recognition going the SPAC route could be in financial distress and looking to raise capital to maintain operations. It's hard to get the full picture to safely go big or go home fast enough to make big returns on the initial pump without being caught with bigger bags. And again, a lot of us have day jobs so can't drop work to spend hours researching the merger partner.
***5.) The market is volatile right now.*** This makes speculative investments like SPACs and even more speculative investments like warrants more volatile. If you're in this, you should prepare yourself for volatility. SPACs are not for the weak of spirit. Go buy Amazon or SPY if you can't live with the swings.
***6.) Even the very best SPACs have a slump period between announcement and merger date.*** VTIQ peaked at $14.70 at the Nikola merger announcement, then sunk back to $10.50, sitting between $10.50-12 for a while while the market went through it's COVID turbulence. It took two months for it to get back to it's announcement peak, when the merger date was announced and activity progressed. We all know what happened from there with NKLA going public and hitting as high as $90.
The day traders playing the initial pump hard are not long-term hold types. They don't care that this stock will be worth $70 in 5 months if they're going to end up holding underwater bags for the next two. They are pros who want to use their money in the interim instead of being patient. And a lot of the more experienced SPAC investors also take profits and plan to come back and buy back in closer to merge date after doing more DD because they know the down period slump is coming. A lot of weak hands bagholders panic during the slump and sell at a loss, thus compounding the panic for other bagholders. A lot more start pining for greener pastures and hotter plays as the merger news grows stale with no new developments, and are willing to sell at a loss to try to make up their losses elsewhere.
**7.) You often can't perfectly time SPAC announcements and rumors in advance, and selling at a loss is psychological barrier to buying back in.** If you sold out VTIQ at $11 during the down period because you were holding bags down 27%, you'd have probably missed out on the gap back up and thus lost more money than you needed to - if you ever got back in at all. At a certain point you may feel the price is "too rich" and your pride will be hurt by paying more than you bought initially after selling for a big loss.
**And here's the point:** If your full DD shows you got into the wrong deal or something has fundamentally changed besides your own psychological distress, impatience, FOMO on other plays and disappointment in the price action, cutting some losses might be a good idea. If you still believe in the stock as an investment for the same reasons you bought into it, and there is no news to suggest the merger is in trouble, your bags will likely be alleviated and then some within a few months. Barring some can't-miss play that will make up your loss and then some, just stay patient - in fact DCA so your cost basis gets lower and you feel less stressed out.
It's likely the excitement that pushed the stock to wherever it got post-announcement that you bought into will return when it's going to be a real merger and not just a distant, abstract, non-binding agreement.
| 50 |
devilmaskrascal
| 1,595,376,035 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/hvj060/spac_bagholders_support_group/
|
hvj060
|
fyu5jy0
|
Yup, I’m caught bag holding spaq and just been averaging down ever since. Getting closed to break even though from which I’m going to divest some into earning plays and come back to it. Looks like spaq is going to be chillin in the 14-16 range until merge. Although if I don’t break even I’m patient enough to hold. Great post though! Strange to say but it’s Nice to share the same pain with fellow bag holders.
| 12 |
killadaze
| 1,595,388,642 |
SPAC Bagholders Support Group
|
Let's face it - bagholding is kind of a reality of playing SPACs post-announcement.
***1.) Getting in early isn't always as easy as it sounds.*** There are a lot of SPACs. The warrants in the "good SPACs" are at expensive premiums. They are almost too hyped to get significant cheap positions in every one early enough to catch the initial merger announcement rise. At these inflated prices, you're just as likely to quickly sink below your cost post-announcement (cough\*ccxx\*cough).
You also can't really time them to try to be "strategic" about which you invest in - it may be two years out, or they could announce tomorrow. Or even after two years out they're asking for extensions because they're still looking.
While commons DO grant investors a nice wall of downside protection, they can also very well leave patient investors waiting with your money for years with gains that still lose to the market:
12 of the 20 SPACs with announced partners are trading at under $11, 15 at under $12. If get in right at $10, wait two years and end up walking away with $11, that's 10% gains, while two years in SPY at 7% annual returns (14.5% over 2 years) is still better money. And getting in at $10 and walking away with $11 is a GOOD scenario, because:
***2.) SPAC realities aren't rosy enough to merit blindly throwing too much money around at unknown investments you can't really do due diligence on***\*\*.\*\*
* Commons typically trade above $10. The median commons share price for unannounced SPACs right now is $10.30. The median post-LOI announcement commons price is $10.65 right now. That means the unnannounced are trading at $.35 less than announced. That's unimpressive returns for an investment you might have to wait years on.
* Most SPACs sink post merger.
* 20% of SPACs don't find a merger partner, rendering warrants void and might leave you at a loss if you bought commons over the liquidation payout price.
* Probably about 20-30% of SPACs should be avoided in the first place. Chinese and weed SPACs especially have a long track record of failure, others are looking in industries that aren't good or have management teams with little to no credible experience.
* Even announced mergers failing happens too. Look at TGI Friday, Chuck E. Cheese, or the most recent, Gateway Casinos (LACQ).
***3.) Merger announcements are going to be pump and dumps:*** Day traders live and breathe on this stuff, will probably see the news quicker than those of us who don't spend all our time on Stocktwits, and who have day jobs and family obligations, etc. The day traders know how to time the pumps and the dumps better than us average retail investors with day jobs, as they can watch the price movement nonstop. Most of the movement often happens in pre- and post-market, with rapid dropoffs during normal market hours. They take their profits, get out quick and leave us rubes who saw the announcement a bit late and bought in because we liked the announcement holding the bags on the dump
***4.) It's hard to do due diligence fast enough during the pump to know whether you're buying into a good company or not.*** Even a company with good name recognition going the SPAC route could be in financial distress and looking to raise capital to maintain operations. It's hard to get the full picture to safely go big or go home fast enough to make big returns on the initial pump without being caught with bigger bags. And again, a lot of us have day jobs so can't drop work to spend hours researching the merger partner.
***5.) The market is volatile right now.*** This makes speculative investments like SPACs and even more speculative investments like warrants more volatile. If you're in this, you should prepare yourself for volatility. SPACs are not for the weak of spirit. Go buy Amazon or SPY if you can't live with the swings.
***6.) Even the very best SPACs have a slump period between announcement and merger date.*** VTIQ peaked at $14.70 at the Nikola merger announcement, then sunk back to $10.50, sitting between $10.50-12 for a while while the market went through it's COVID turbulence. It took two months for it to get back to it's announcement peak, when the merger date was announced and activity progressed. We all know what happened from there with NKLA going public and hitting as high as $90.
The day traders playing the initial pump hard are not long-term hold types. They don't care that this stock will be worth $70 in 5 months if they're going to end up holding underwater bags for the next two. They are pros who want to use their money in the interim instead of being patient. And a lot of the more experienced SPAC investors also take profits and plan to come back and buy back in closer to merge date after doing more DD because they know the down period slump is coming. A lot of weak hands bagholders panic during the slump and sell at a loss, thus compounding the panic for other bagholders. A lot more start pining for greener pastures and hotter plays as the merger news grows stale with no new developments, and are willing to sell at a loss to try to make up their losses elsewhere.
**7.) You often can't perfectly time SPAC announcements and rumors in advance, and selling at a loss is psychological barrier to buying back in.** If you sold out VTIQ at $11 during the down period because you were holding bags down 27%, you'd have probably missed out on the gap back up and thus lost more money than you needed to - if you ever got back in at all. At a certain point you may feel the price is "too rich" and your pride will be hurt by paying more than you bought initially after selling for a big loss.
**And here's the point:** If your full DD shows you got into the wrong deal or something has fundamentally changed besides your own psychological distress, impatience, FOMO on other plays and disappointment in the price action, cutting some losses might be a good idea. If you still believe in the stock as an investment for the same reasons you bought into it, and there is no news to suggest the merger is in trouble, your bags will likely be alleviated and then some within a few months. Barring some can't-miss play that will make up your loss and then some, just stay patient - in fact DCA so your cost basis gets lower and you feel less stressed out.
It's likely the excitement that pushed the stock to wherever it got post-announcement that you bought into will return when it's going to be a real merger and not just a distant, abstract, non-binding agreement.
| 50 |
devilmaskrascal
| 1,595,376,035 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/hvj060/spac_bagholders_support_group/
|
hvj060
|
fyu5pwc
|
OPESW my first and last YOLO I will ever do over a 20 min research
| 11 |
fazawood81
| 1,595,388,748 |
SPAC Bagholders Support Group
|
Let's face it - bagholding is kind of a reality of playing SPACs post-announcement.
***1.) Getting in early isn't always as easy as it sounds.*** There are a lot of SPACs. The warrants in the "good SPACs" are at expensive premiums. They are almost too hyped to get significant cheap positions in every one early enough to catch the initial merger announcement rise. At these inflated prices, you're just as likely to quickly sink below your cost post-announcement (cough\*ccxx\*cough).
You also can't really time them to try to be "strategic" about which you invest in - it may be two years out, or they could announce tomorrow. Or even after two years out they're asking for extensions because they're still looking.
While commons DO grant investors a nice wall of downside protection, they can also very well leave patient investors waiting with your money for years with gains that still lose to the market:
12 of the 20 SPACs with announced partners are trading at under $11, 15 at under $12. If get in right at $10, wait two years and end up walking away with $11, that's 10% gains, while two years in SPY at 7% annual returns (14.5% over 2 years) is still better money. And getting in at $10 and walking away with $11 is a GOOD scenario, because:
***2.) SPAC realities aren't rosy enough to merit blindly throwing too much money around at unknown investments you can't really do due diligence on***\*\*.\*\*
* Commons typically trade above $10. The median commons share price for unannounced SPACs right now is $10.30. The median post-LOI announcement commons price is $10.65 right now. That means the unnannounced are trading at $.35 less than announced. That's unimpressive returns for an investment you might have to wait years on.
* Most SPACs sink post merger.
* 20% of SPACs don't find a merger partner, rendering warrants void and might leave you at a loss if you bought commons over the liquidation payout price.
* Probably about 20-30% of SPACs should be avoided in the first place. Chinese and weed SPACs especially have a long track record of failure, others are looking in industries that aren't good or have management teams with little to no credible experience.
* Even announced mergers failing happens too. Look at TGI Friday, Chuck E. Cheese, or the most recent, Gateway Casinos (LACQ).
***3.) Merger announcements are going to be pump and dumps:*** Day traders live and breathe on this stuff, will probably see the news quicker than those of us who don't spend all our time on Stocktwits, and who have day jobs and family obligations, etc. The day traders know how to time the pumps and the dumps better than us average retail investors with day jobs, as they can watch the price movement nonstop. Most of the movement often happens in pre- and post-market, with rapid dropoffs during normal market hours. They take their profits, get out quick and leave us rubes who saw the announcement a bit late and bought in because we liked the announcement holding the bags on the dump
***4.) It's hard to do due diligence fast enough during the pump to know whether you're buying into a good company or not.*** Even a company with good name recognition going the SPAC route could be in financial distress and looking to raise capital to maintain operations. It's hard to get the full picture to safely go big or go home fast enough to make big returns on the initial pump without being caught with bigger bags. And again, a lot of us have day jobs so can't drop work to spend hours researching the merger partner.
***5.) The market is volatile right now.*** This makes speculative investments like SPACs and even more speculative investments like warrants more volatile. If you're in this, you should prepare yourself for volatility. SPACs are not for the weak of spirit. Go buy Amazon or SPY if you can't live with the swings.
***6.) Even the very best SPACs have a slump period between announcement and merger date.*** VTIQ peaked at $14.70 at the Nikola merger announcement, then sunk back to $10.50, sitting between $10.50-12 for a while while the market went through it's COVID turbulence. It took two months for it to get back to it's announcement peak, when the merger date was announced and activity progressed. We all know what happened from there with NKLA going public and hitting as high as $90.
The day traders playing the initial pump hard are not long-term hold types. They don't care that this stock will be worth $70 in 5 months if they're going to end up holding underwater bags for the next two. They are pros who want to use their money in the interim instead of being patient. And a lot of the more experienced SPAC investors also take profits and plan to come back and buy back in closer to merge date after doing more DD because they know the down period slump is coming. A lot of weak hands bagholders panic during the slump and sell at a loss, thus compounding the panic for other bagholders. A lot more start pining for greener pastures and hotter plays as the merger news grows stale with no new developments, and are willing to sell at a loss to try to make up their losses elsewhere.
**7.) You often can't perfectly time SPAC announcements and rumors in advance, and selling at a loss is psychological barrier to buying back in.** If you sold out VTIQ at $11 during the down period because you were holding bags down 27%, you'd have probably missed out on the gap back up and thus lost more money than you needed to - if you ever got back in at all. At a certain point you may feel the price is "too rich" and your pride will be hurt by paying more than you bought initially after selling for a big loss.
**And here's the point:** If your full DD shows you got into the wrong deal or something has fundamentally changed besides your own psychological distress, impatience, FOMO on other plays and disappointment in the price action, cutting some losses might be a good idea. If you still believe in the stock as an investment for the same reasons you bought into it, and there is no news to suggest the merger is in trouble, your bags will likely be alleviated and then some within a few months. Barring some can't-miss play that will make up your loss and then some, just stay patient - in fact DCA so your cost basis gets lower and you feel less stressed out.
It's likely the excitement that pushed the stock to wherever it got post-announcement that you bought into will return when it's going to be a real merger and not just a distant, abstract, non-binding agreement.
| 50 |
devilmaskrascal
| 1,595,376,035 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/hvj060/spac_bagholders_support_group/
|
hvj060
|
fyv2e7f
|
Bag holding OPES. Someone give me milk and cookies and tell me everything will be okay. :(
| 7 |
Expert-Magician262
| 1,595,417,643 |
SPAC Bagholders Support Group
|
Let's face it - bagholding is kind of a reality of playing SPACs post-announcement.
***1.) Getting in early isn't always as easy as it sounds.*** There are a lot of SPACs. The warrants in the "good SPACs" are at expensive premiums. They are almost too hyped to get significant cheap positions in every one early enough to catch the initial merger announcement rise. At these inflated prices, you're just as likely to quickly sink below your cost post-announcement (cough\*ccxx\*cough).
You also can't really time them to try to be "strategic" about which you invest in - it may be two years out, or they could announce tomorrow. Or even after two years out they're asking for extensions because they're still looking.
While commons DO grant investors a nice wall of downside protection, they can also very well leave patient investors waiting with your money for years with gains that still lose to the market:
12 of the 20 SPACs with announced partners are trading at under $11, 15 at under $12. If get in right at $10, wait two years and end up walking away with $11, that's 10% gains, while two years in SPY at 7% annual returns (14.5% over 2 years) is still better money. And getting in at $10 and walking away with $11 is a GOOD scenario, because:
***2.) SPAC realities aren't rosy enough to merit blindly throwing too much money around at unknown investments you can't really do due diligence on***\*\*.\*\*
* Commons typically trade above $10. The median commons share price for unannounced SPACs right now is $10.30. The median post-LOI announcement commons price is $10.65 right now. That means the unnannounced are trading at $.35 less than announced. That's unimpressive returns for an investment you might have to wait years on.
* Most SPACs sink post merger.
* 20% of SPACs don't find a merger partner, rendering warrants void and might leave you at a loss if you bought commons over the liquidation payout price.
* Probably about 20-30% of SPACs should be avoided in the first place. Chinese and weed SPACs especially have a long track record of failure, others are looking in industries that aren't good or have management teams with little to no credible experience.
* Even announced mergers failing happens too. Look at TGI Friday, Chuck E. Cheese, or the most recent, Gateway Casinos (LACQ).
***3.) Merger announcements are going to be pump and dumps:*** Day traders live and breathe on this stuff, will probably see the news quicker than those of us who don't spend all our time on Stocktwits, and who have day jobs and family obligations, etc. The day traders know how to time the pumps and the dumps better than us average retail investors with day jobs, as they can watch the price movement nonstop. Most of the movement often happens in pre- and post-market, with rapid dropoffs during normal market hours. They take their profits, get out quick and leave us rubes who saw the announcement a bit late and bought in because we liked the announcement holding the bags on the dump
***4.) It's hard to do due diligence fast enough during the pump to know whether you're buying into a good company or not.*** Even a company with good name recognition going the SPAC route could be in financial distress and looking to raise capital to maintain operations. It's hard to get the full picture to safely go big or go home fast enough to make big returns on the initial pump without being caught with bigger bags. And again, a lot of us have day jobs so can't drop work to spend hours researching the merger partner.
***5.) The market is volatile right now.*** This makes speculative investments like SPACs and even more speculative investments like warrants more volatile. If you're in this, you should prepare yourself for volatility. SPACs are not for the weak of spirit. Go buy Amazon or SPY if you can't live with the swings.
***6.) Even the very best SPACs have a slump period between announcement and merger date.*** VTIQ peaked at $14.70 at the Nikola merger announcement, then sunk back to $10.50, sitting between $10.50-12 for a while while the market went through it's COVID turbulence. It took two months for it to get back to it's announcement peak, when the merger date was announced and activity progressed. We all know what happened from there with NKLA going public and hitting as high as $90.
The day traders playing the initial pump hard are not long-term hold types. They don't care that this stock will be worth $70 in 5 months if they're going to end up holding underwater bags for the next two. They are pros who want to use their money in the interim instead of being patient. And a lot of the more experienced SPAC investors also take profits and plan to come back and buy back in closer to merge date after doing more DD because they know the down period slump is coming. A lot of weak hands bagholders panic during the slump and sell at a loss, thus compounding the panic for other bagholders. A lot more start pining for greener pastures and hotter plays as the merger news grows stale with no new developments, and are willing to sell at a loss to try to make up their losses elsewhere.
**7.) You often can't perfectly time SPAC announcements and rumors in advance, and selling at a loss is psychological barrier to buying back in.** If you sold out VTIQ at $11 during the down period because you were holding bags down 27%, you'd have probably missed out on the gap back up and thus lost more money than you needed to - if you ever got back in at all. At a certain point you may feel the price is "too rich" and your pride will be hurt by paying more than you bought initially after selling for a big loss.
**And here's the point:** If your full DD shows you got into the wrong deal or something has fundamentally changed besides your own psychological distress, impatience, FOMO on other plays and disappointment in the price action, cutting some losses might be a good idea. If you still believe in the stock as an investment for the same reasons you bought into it, and there is no news to suggest the merger is in trouble, your bags will likely be alleviated and then some within a few months. Barring some can't-miss play that will make up your loss and then some, just stay patient - in fact DCA so your cost basis gets lower and you feel less stressed out.
It's likely the excitement that pushed the stock to wherever it got post-announcement that you bought into will return when it's going to be a real merger and not just a distant, abstract, non-binding agreement.
| 50 |
devilmaskrascal
| 1,595,376,035 |
amazon
|
SPACs
|
https://www.reddit.com/r/SPACs/comments/hvj060/spac_bagholders_support_group/
|
1lbk5mv
|
mxwoafm
|
Uhh… I’d much rather die with extra money then find myself 80 with no money.
Sounds like you should invest in a gym membership though.
| 125 |
er824
| 1,749,994,805 |
"Should I stop maxing out my 401k" - this time with a twist
|
Alright, I'm sure this subreddit is sick of this question but I have a somewhat unique scenario and I'm curious about your opinion:
- Single 38 year old man, no kids
- Salary: $190k
- Old job 401k: $103k
- Current Job 401K: $113k(Company matches 4% after I contribute 8%)
- Roth IRA: $23k
- Emergency Fund: $10k
- Index Funds: $10k
- $90k in Amazon/Microsoft/Nvidia/Apple Stock(Though, I was thinking about selling this to dump the 90k into my mortgage)
- I just bought my first piece of property - a **$575k** condo, that I put 25% down on. My monthly payments are **$3900** before power/gas/internet and that number is, admittedly, scaring me a little bit. I have a 6.5% interest loan that I plan to refinance the second the rates go down, but my strategy otherwise, is to aggressively attack the principal every month by paying as much as I can while keeping my $10k emergency fund in tact.
- I have a paid off car that I do not rely on(I bike to work), I don't have any student debt, I don't have any credit card debt(pay the entire balance off every month). Literally, the only debt I have is my mortgage.
**So here is the twist**. I've been looking at the outcomes of all the men in my family and they *all* die before 60. My dad, both of my uncles, my grandfathers on both sides. Literally ALL of them. My two brothers and I joke that 60 is the "high score". And they pass for various reasons. Heart complications, diabetes is prevalent in my lineage, various different cancers. In other words, its not like they are dying from driving wrecklessly or skydiving or something. They are dying for reasons that I myself can probably reasonably forecast for myself.
I'm not claiming to be a specialist in genetics but I am of decently firm belief that there's some things you just cant out run. Sure, maybe I can "break" the highscore, but for how long after 60 will I be able to enjoy the savings I've accumulated, if ever?
Granted, my brothers and I are first generation Americans where our parents(and all of the aforementioned men from both sides of our parents family) come from a country with horrible healthcare. Additionally, all these people had horrible diets, drank a ton of alcohol, my dad was a smoker and a lot of these guys didn't exercise and developed giant beer guts that probably accelerated their death. Personally, I run 2 times a week, I don't drink or smoke but I'll admit, I do indulge when it comes to food. Its my biggest vice.
So with that said, I've been maxing my 401k out every year since 2016. But am I going about this all wrong if I may not even make it to 65? And if I do, with compound interest growing at a rate of, lets say 8%, do I have enough to live to 70...80? Okay, that question is harder to ask, but I am curious if maybe I shouldn't be so heavy on my 401k.
**And to be clear, if I did drop my 401k down to 8% to get the 4% company match, I'm not exactly going to buy a jet ski with the extra money. My goal with the extra money would be to pay down my mortgage more aggressively.**
Thoughts? Thank you for those that stuck around that long diatribe!
| 28 |
DeadBy60
| 1,749,937,971 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1lbk5mv/should_i_stop_maxing_out_my_401k_this_time_with_a/
|
1lbk5mv
|
mxwnc0c
|
Mathematically, I don't see any reason why you wouldn't be able to max 401k, Roth IRA and aggressively pay down your mortgage, while still having plenty of leftover income.
It's better to be prepared to have a long life, rather than planning to die young.
| 42 |
TTV_The_Reverend_Dr
| 1,749,994,446 |
"Should I stop maxing out my 401k" - this time with a twist
|
Alright, I'm sure this subreddit is sick of this question but I have a somewhat unique scenario and I'm curious about your opinion:
- Single 38 year old man, no kids
- Salary: $190k
- Old job 401k: $103k
- Current Job 401K: $113k(Company matches 4% after I contribute 8%)
- Roth IRA: $23k
- Emergency Fund: $10k
- Index Funds: $10k
- $90k in Amazon/Microsoft/Nvidia/Apple Stock(Though, I was thinking about selling this to dump the 90k into my mortgage)
- I just bought my first piece of property - a **$575k** condo, that I put 25% down on. My monthly payments are **$3900** before power/gas/internet and that number is, admittedly, scaring me a little bit. I have a 6.5% interest loan that I plan to refinance the second the rates go down, but my strategy otherwise, is to aggressively attack the principal every month by paying as much as I can while keeping my $10k emergency fund in tact.
- I have a paid off car that I do not rely on(I bike to work), I don't have any student debt, I don't have any credit card debt(pay the entire balance off every month). Literally, the only debt I have is my mortgage.
**So here is the twist**. I've been looking at the outcomes of all the men in my family and they *all* die before 60. My dad, both of my uncles, my grandfathers on both sides. Literally ALL of them. My two brothers and I joke that 60 is the "high score". And they pass for various reasons. Heart complications, diabetes is prevalent in my lineage, various different cancers. In other words, its not like they are dying from driving wrecklessly or skydiving or something. They are dying for reasons that I myself can probably reasonably forecast for myself.
I'm not claiming to be a specialist in genetics but I am of decently firm belief that there's some things you just cant out run. Sure, maybe I can "break" the highscore, but for how long after 60 will I be able to enjoy the savings I've accumulated, if ever?
Granted, my brothers and I are first generation Americans where our parents(and all of the aforementioned men from both sides of our parents family) come from a country with horrible healthcare. Additionally, all these people had horrible diets, drank a ton of alcohol, my dad was a smoker and a lot of these guys didn't exercise and developed giant beer guts that probably accelerated their death. Personally, I run 2 times a week, I don't drink or smoke but I'll admit, I do indulge when it comes to food. Its my biggest vice.
So with that said, I've been maxing my 401k out every year since 2016. But am I going about this all wrong if I may not even make it to 65? And if I do, with compound interest growing at a rate of, lets say 8%, do I have enough to live to 70...80? Okay, that question is harder to ask, but I am curious if maybe I shouldn't be so heavy on my 401k.
**And to be clear, if I did drop my 401k down to 8% to get the 4% company match, I'm not exactly going to buy a jet ski with the extra money. My goal with the extra money would be to pay down my mortgage more aggressively.**
Thoughts? Thank you for those that stuck around that long diatribe!
| 28 |
DeadBy60
| 1,749,937,971 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1lbk5mv/should_i_stop_maxing_out_my_401k_this_time_with_a/
|
1lbk5mv
|
mxwpone
|
Or, go at retirement savings even harder and retire early!!
| 31 |
WheresMyMule
| 1,749,995,316 |
"Should I stop maxing out my 401k" - this time with a twist
|
Alright, I'm sure this subreddit is sick of this question but I have a somewhat unique scenario and I'm curious about your opinion:
- Single 38 year old man, no kids
- Salary: $190k
- Old job 401k: $103k
- Current Job 401K: $113k(Company matches 4% after I contribute 8%)
- Roth IRA: $23k
- Emergency Fund: $10k
- Index Funds: $10k
- $90k in Amazon/Microsoft/Nvidia/Apple Stock(Though, I was thinking about selling this to dump the 90k into my mortgage)
- I just bought my first piece of property - a **$575k** condo, that I put 25% down on. My monthly payments are **$3900** before power/gas/internet and that number is, admittedly, scaring me a little bit. I have a 6.5% interest loan that I plan to refinance the second the rates go down, but my strategy otherwise, is to aggressively attack the principal every month by paying as much as I can while keeping my $10k emergency fund in tact.
- I have a paid off car that I do not rely on(I bike to work), I don't have any student debt, I don't have any credit card debt(pay the entire balance off every month). Literally, the only debt I have is my mortgage.
**So here is the twist**. I've been looking at the outcomes of all the men in my family and they *all* die before 60. My dad, both of my uncles, my grandfathers on both sides. Literally ALL of them. My two brothers and I joke that 60 is the "high score". And they pass for various reasons. Heart complications, diabetes is prevalent in my lineage, various different cancers. In other words, its not like they are dying from driving wrecklessly or skydiving or something. They are dying for reasons that I myself can probably reasonably forecast for myself.
I'm not claiming to be a specialist in genetics but I am of decently firm belief that there's some things you just cant out run. Sure, maybe I can "break" the highscore, but for how long after 60 will I be able to enjoy the savings I've accumulated, if ever?
Granted, my brothers and I are first generation Americans where our parents(and all of the aforementioned men from both sides of our parents family) come from a country with horrible healthcare. Additionally, all these people had horrible diets, drank a ton of alcohol, my dad was a smoker and a lot of these guys didn't exercise and developed giant beer guts that probably accelerated their death. Personally, I run 2 times a week, I don't drink or smoke but I'll admit, I do indulge when it comes to food. Its my biggest vice.
So with that said, I've been maxing my 401k out every year since 2016. But am I going about this all wrong if I may not even make it to 65? And if I do, with compound interest growing at a rate of, lets say 8%, do I have enough to live to 70...80? Okay, that question is harder to ask, but I am curious if maybe I shouldn't be so heavy on my 401k.
**And to be clear, if I did drop my 401k down to 8% to get the 4% company match, I'm not exactly going to buy a jet ski with the extra money. My goal with the extra money would be to pay down my mortgage more aggressively.**
Thoughts? Thank you for those that stuck around that long diatribe!
| 28 |
DeadBy60
| 1,749,937,971 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1lbk5mv/should_i_stop_maxing_out_my_401k_this_time_with_a/
|
1lbk5mv
|
mxww16m
|
Have you talked to your doctor about your family history? They can monitor and address a lot of the issues you mentioned. I think your $10k efund is too low, but you don’t really mention expenses outside of your mortgage or how stable your job is/how easily you could get another job, which are important for sizing efunds. Can you roll your old 401k into your current one just to simplify things a bit more?
| 20 |
seattlekeith
| 1,749,997,532 |
"Should I stop maxing out my 401k" - this time with a twist
|
Alright, I'm sure this subreddit is sick of this question but I have a somewhat unique scenario and I'm curious about your opinion:
- Single 38 year old man, no kids
- Salary: $190k
- Old job 401k: $103k
- Current Job 401K: $113k(Company matches 4% after I contribute 8%)
- Roth IRA: $23k
- Emergency Fund: $10k
- Index Funds: $10k
- $90k in Amazon/Microsoft/Nvidia/Apple Stock(Though, I was thinking about selling this to dump the 90k into my mortgage)
- I just bought my first piece of property - a **$575k** condo, that I put 25% down on. My monthly payments are **$3900** before power/gas/internet and that number is, admittedly, scaring me a little bit. I have a 6.5% interest loan that I plan to refinance the second the rates go down, but my strategy otherwise, is to aggressively attack the principal every month by paying as much as I can while keeping my $10k emergency fund in tact.
- I have a paid off car that I do not rely on(I bike to work), I don't have any student debt, I don't have any credit card debt(pay the entire balance off every month). Literally, the only debt I have is my mortgage.
**So here is the twist**. I've been looking at the outcomes of all the men in my family and they *all* die before 60. My dad, both of my uncles, my grandfathers on both sides. Literally ALL of them. My two brothers and I joke that 60 is the "high score". And they pass for various reasons. Heart complications, diabetes is prevalent in my lineage, various different cancers. In other words, its not like they are dying from driving wrecklessly or skydiving or something. They are dying for reasons that I myself can probably reasonably forecast for myself.
I'm not claiming to be a specialist in genetics but I am of decently firm belief that there's some things you just cant out run. Sure, maybe I can "break" the highscore, but for how long after 60 will I be able to enjoy the savings I've accumulated, if ever?
Granted, my brothers and I are first generation Americans where our parents(and all of the aforementioned men from both sides of our parents family) come from a country with horrible healthcare. Additionally, all these people had horrible diets, drank a ton of alcohol, my dad was a smoker and a lot of these guys didn't exercise and developed giant beer guts that probably accelerated their death. Personally, I run 2 times a week, I don't drink or smoke but I'll admit, I do indulge when it comes to food. Its my biggest vice.
So with that said, I've been maxing my 401k out every year since 2016. But am I going about this all wrong if I may not even make it to 65? And if I do, with compound interest growing at a rate of, lets say 8%, do I have enough to live to 70...80? Okay, that question is harder to ask, but I am curious if maybe I shouldn't be so heavy on my 401k.
**And to be clear, if I did drop my 401k down to 8% to get the 4% company match, I'm not exactly going to buy a jet ski with the extra money. My goal with the extra money would be to pay down my mortgage more aggressively.**
Thoughts? Thank you for those that stuck around that long diatribe!
| 28 |
DeadBy60
| 1,749,937,971 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1lbk5mv/should_i_stop_maxing_out_my_401k_this_time_with_a/
|
1lbk5mv
|
mxxrrn0
|
Go to a doctor. You obviously have risk factors. And masking sure you are on the correct preventative medications could save your life.
Your parents lives in a different era. We have advanced medically.
| 10 |
ZeroSumGame007
| 1,750,007,513 |
"Should I stop maxing out my 401k" - this time with a twist
|
Alright, I'm sure this subreddit is sick of this question but I have a somewhat unique scenario and I'm curious about your opinion:
- Single 38 year old man, no kids
- Salary: $190k
- Old job 401k: $103k
- Current Job 401K: $113k(Company matches 4% after I contribute 8%)
- Roth IRA: $23k
- Emergency Fund: $10k
- Index Funds: $10k
- $90k in Amazon/Microsoft/Nvidia/Apple Stock(Though, I was thinking about selling this to dump the 90k into my mortgage)
- I just bought my first piece of property - a **$575k** condo, that I put 25% down on. My monthly payments are **$3900** before power/gas/internet and that number is, admittedly, scaring me a little bit. I have a 6.5% interest loan that I plan to refinance the second the rates go down, but my strategy otherwise, is to aggressively attack the principal every month by paying as much as I can while keeping my $10k emergency fund in tact.
- I have a paid off car that I do not rely on(I bike to work), I don't have any student debt, I don't have any credit card debt(pay the entire balance off every month). Literally, the only debt I have is my mortgage.
**So here is the twist**. I've been looking at the outcomes of all the men in my family and they *all* die before 60. My dad, both of my uncles, my grandfathers on both sides. Literally ALL of them. My two brothers and I joke that 60 is the "high score". And they pass for various reasons. Heart complications, diabetes is prevalent in my lineage, various different cancers. In other words, its not like they are dying from driving wrecklessly or skydiving or something. They are dying for reasons that I myself can probably reasonably forecast for myself.
I'm not claiming to be a specialist in genetics but I am of decently firm belief that there's some things you just cant out run. Sure, maybe I can "break" the highscore, but for how long after 60 will I be able to enjoy the savings I've accumulated, if ever?
Granted, my brothers and I are first generation Americans where our parents(and all of the aforementioned men from both sides of our parents family) come from a country with horrible healthcare. Additionally, all these people had horrible diets, drank a ton of alcohol, my dad was a smoker and a lot of these guys didn't exercise and developed giant beer guts that probably accelerated their death. Personally, I run 2 times a week, I don't drink or smoke but I'll admit, I do indulge when it comes to food. Its my biggest vice.
So with that said, I've been maxing my 401k out every year since 2016. But am I going about this all wrong if I may not even make it to 65? And if I do, with compound interest growing at a rate of, lets say 8%, do I have enough to live to 70...80? Okay, that question is harder to ask, but I am curious if maybe I shouldn't be so heavy on my 401k.
**And to be clear, if I did drop my 401k down to 8% to get the 4% company match, I'm not exactly going to buy a jet ski with the extra money. My goal with the extra money would be to pay down my mortgage more aggressively.**
Thoughts? Thank you for those that stuck around that long diatribe!
| 28 |
DeadBy60
| 1,749,937,971 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1lbk5mv/should_i_stop_maxing_out_my_401k_this_time_with_a/
|
1lbk5mv
|
mxxnfck
|
In my Dad’s family the “high score” was 50. His parents both died at 50, and so did an uncle and his oldest sister. They all smoked.
He thought that’d be it for him too I think. Him and all his siblings have been going strong for decades past the old high score. Whether by luck or different substance use patterns or both. Don’t assume the “high score” will constrained you! And don’t forget to live every day either
| 8 |
Milagre
| 1,750,006,204 |
"Should I stop maxing out my 401k" - this time with a twist
|
Alright, I'm sure this subreddit is sick of this question but I have a somewhat unique scenario and I'm curious about your opinion:
- Single 38 year old man, no kids
- Salary: $190k
- Old job 401k: $103k
- Current Job 401K: $113k(Company matches 4% after I contribute 8%)
- Roth IRA: $23k
- Emergency Fund: $10k
- Index Funds: $10k
- $90k in Amazon/Microsoft/Nvidia/Apple Stock(Though, I was thinking about selling this to dump the 90k into my mortgage)
- I just bought my first piece of property - a **$575k** condo, that I put 25% down on. My monthly payments are **$3900** before power/gas/internet and that number is, admittedly, scaring me a little bit. I have a 6.5% interest loan that I plan to refinance the second the rates go down, but my strategy otherwise, is to aggressively attack the principal every month by paying as much as I can while keeping my $10k emergency fund in tact.
- I have a paid off car that I do not rely on(I bike to work), I don't have any student debt, I don't have any credit card debt(pay the entire balance off every month). Literally, the only debt I have is my mortgage.
**So here is the twist**. I've been looking at the outcomes of all the men in my family and they *all* die before 60. My dad, both of my uncles, my grandfathers on both sides. Literally ALL of them. My two brothers and I joke that 60 is the "high score". And they pass for various reasons. Heart complications, diabetes is prevalent in my lineage, various different cancers. In other words, its not like they are dying from driving wrecklessly or skydiving or something. They are dying for reasons that I myself can probably reasonably forecast for myself.
I'm not claiming to be a specialist in genetics but I am of decently firm belief that there's some things you just cant out run. Sure, maybe I can "break" the highscore, but for how long after 60 will I be able to enjoy the savings I've accumulated, if ever?
Granted, my brothers and I are first generation Americans where our parents(and all of the aforementioned men from both sides of our parents family) come from a country with horrible healthcare. Additionally, all these people had horrible diets, drank a ton of alcohol, my dad was a smoker and a lot of these guys didn't exercise and developed giant beer guts that probably accelerated their death. Personally, I run 2 times a week, I don't drink or smoke but I'll admit, I do indulge when it comes to food. Its my biggest vice.
So with that said, I've been maxing my 401k out every year since 2016. But am I going about this all wrong if I may not even make it to 65? And if I do, with compound interest growing at a rate of, lets say 8%, do I have enough to live to 70...80? Okay, that question is harder to ask, but I am curious if maybe I shouldn't be so heavy on my 401k.
**And to be clear, if I did drop my 401k down to 8% to get the 4% company match, I'm not exactly going to buy a jet ski with the extra money. My goal with the extra money would be to pay down my mortgage more aggressively.**
Thoughts? Thank you for those that stuck around that long diatribe!
| 28 |
DeadBy60
| 1,749,937,971 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1lbk5mv/should_i_stop_maxing_out_my_401k_this_time_with_a/
|
1lbk5mv
|
mxypp13
|
If you really think you will expire at 60, why do you need to have over $4,000 monthly mortgage?
Why not rent for half the price ($2,000), max out your retirement accounts and brokerage accounts and get out of the rat race at 50?
This will give you at least one decade post retirement and you can do whatever you want.
Many people who continue to work into their late 60s or early 70s never get to enjoy one decade of post retirement because they run out of time before they run out of money.
I think the condo purchase was a mistake and that is why you want to change the subject and talk about all the other stuff but the elephant (condo) in the room!
| 8 |
DhakoBiyoDhacay
| 1,750,017,935 |
"Should I stop maxing out my 401k" - this time with a twist
|
Alright, I'm sure this subreddit is sick of this question but I have a somewhat unique scenario and I'm curious about your opinion:
- Single 38 year old man, no kids
- Salary: $190k
- Old job 401k: $103k
- Current Job 401K: $113k(Company matches 4% after I contribute 8%)
- Roth IRA: $23k
- Emergency Fund: $10k
- Index Funds: $10k
- $90k in Amazon/Microsoft/Nvidia/Apple Stock(Though, I was thinking about selling this to dump the 90k into my mortgage)
- I just bought my first piece of property - a **$575k** condo, that I put 25% down on. My monthly payments are **$3900** before power/gas/internet and that number is, admittedly, scaring me a little bit. I have a 6.5% interest loan that I plan to refinance the second the rates go down, but my strategy otherwise, is to aggressively attack the principal every month by paying as much as I can while keeping my $10k emergency fund in tact.
- I have a paid off car that I do not rely on(I bike to work), I don't have any student debt, I don't have any credit card debt(pay the entire balance off every month). Literally, the only debt I have is my mortgage.
**So here is the twist**. I've been looking at the outcomes of all the men in my family and they *all* die before 60. My dad, both of my uncles, my grandfathers on both sides. Literally ALL of them. My two brothers and I joke that 60 is the "high score". And they pass for various reasons. Heart complications, diabetes is prevalent in my lineage, various different cancers. In other words, its not like they are dying from driving wrecklessly or skydiving or something. They are dying for reasons that I myself can probably reasonably forecast for myself.
I'm not claiming to be a specialist in genetics but I am of decently firm belief that there's some things you just cant out run. Sure, maybe I can "break" the highscore, but for how long after 60 will I be able to enjoy the savings I've accumulated, if ever?
Granted, my brothers and I are first generation Americans where our parents(and all of the aforementioned men from both sides of our parents family) come from a country with horrible healthcare. Additionally, all these people had horrible diets, drank a ton of alcohol, my dad was a smoker and a lot of these guys didn't exercise and developed giant beer guts that probably accelerated their death. Personally, I run 2 times a week, I don't drink or smoke but I'll admit, I do indulge when it comes to food. Its my biggest vice.
So with that said, I've been maxing my 401k out every year since 2016. But am I going about this all wrong if I may not even make it to 65? And if I do, with compound interest growing at a rate of, lets say 8%, do I have enough to live to 70...80? Okay, that question is harder to ask, but I am curious if maybe I shouldn't be so heavy on my 401k.
**And to be clear, if I did drop my 401k down to 8% to get the 4% company match, I'm not exactly going to buy a jet ski with the extra money. My goal with the extra money would be to pay down my mortgage more aggressively.**
Thoughts? Thank you for those that stuck around that long diatribe!
| 28 |
DeadBy60
| 1,749,937,971 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1lbk5mv/should_i_stop_maxing_out_my_401k_this_time_with_a/
|
1lbk5mv
|
mxxyx8n
|
I’ve actually done some research in this area. Family history is predictive of many things but most people vastly overestimate how much it predicts your lifespan or cause of death. Often their family history just reflects the public health conditions other family members were raised in rather than genetics.
In your case, between your upward economic mobility and immigration status, your health determinants could not be more different from your forebears’. Eat right, stay active, get regular checkups and screenings, and plan for a long and wealthy life.
| 7 |
grinchman042
| 1,750,009,666 |
"Should I stop maxing out my 401k" - this time with a twist
|
Alright, I'm sure this subreddit is sick of this question but I have a somewhat unique scenario and I'm curious about your opinion:
- Single 38 year old man, no kids
- Salary: $190k
- Old job 401k: $103k
- Current Job 401K: $113k(Company matches 4% after I contribute 8%)
- Roth IRA: $23k
- Emergency Fund: $10k
- Index Funds: $10k
- $90k in Amazon/Microsoft/Nvidia/Apple Stock(Though, I was thinking about selling this to dump the 90k into my mortgage)
- I just bought my first piece of property - a **$575k** condo, that I put 25% down on. My monthly payments are **$3900** before power/gas/internet and that number is, admittedly, scaring me a little bit. I have a 6.5% interest loan that I plan to refinance the second the rates go down, but my strategy otherwise, is to aggressively attack the principal every month by paying as much as I can while keeping my $10k emergency fund in tact.
- I have a paid off car that I do not rely on(I bike to work), I don't have any student debt, I don't have any credit card debt(pay the entire balance off every month). Literally, the only debt I have is my mortgage.
**So here is the twist**. I've been looking at the outcomes of all the men in my family and they *all* die before 60. My dad, both of my uncles, my grandfathers on both sides. Literally ALL of them. My two brothers and I joke that 60 is the "high score". And they pass for various reasons. Heart complications, diabetes is prevalent in my lineage, various different cancers. In other words, its not like they are dying from driving wrecklessly or skydiving or something. They are dying for reasons that I myself can probably reasonably forecast for myself.
I'm not claiming to be a specialist in genetics but I am of decently firm belief that there's some things you just cant out run. Sure, maybe I can "break" the highscore, but for how long after 60 will I be able to enjoy the savings I've accumulated, if ever?
Granted, my brothers and I are first generation Americans where our parents(and all of the aforementioned men from both sides of our parents family) come from a country with horrible healthcare. Additionally, all these people had horrible diets, drank a ton of alcohol, my dad was a smoker and a lot of these guys didn't exercise and developed giant beer guts that probably accelerated their death. Personally, I run 2 times a week, I don't drink or smoke but I'll admit, I do indulge when it comes to food. Its my biggest vice.
So with that said, I've been maxing my 401k out every year since 2016. But am I going about this all wrong if I may not even make it to 65? And if I do, with compound interest growing at a rate of, lets say 8%, do I have enough to live to 70...80? Okay, that question is harder to ask, but I am curious if maybe I shouldn't be so heavy on my 401k.
**And to be clear, if I did drop my 401k down to 8% to get the 4% company match, I'm not exactly going to buy a jet ski with the extra money. My goal with the extra money would be to pay down my mortgage more aggressively.**
Thoughts? Thank you for those that stuck around that long diatribe!
| 28 |
DeadBy60
| 1,749,937,971 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1lbk5mv/should_i_stop_maxing_out_my_401k_this_time_with_a/
|
1lbk5mv
|
mxwongq
|
Seriously, we have Tirzepatide and Retatrutide available now. If you have a “food indulgence” issue, you can solve it this week, if you try. It will also drastically improve your lipids, as well as kidney and liver function. If you want to live to 80, your key is right there.
Now, obviously dropping your 401K contribution is flawed, so I won’t even comment on that. But why would you aggressively “pay down your 6.5% mortgage” when you say the numbers scare you? If you have fear, you *increase* liquidity, not decrease it. Take that extra money, add some to a HYSA and some to VTI or VT, preferably in a Roth IRA if you have room. Once you have enough to pay 100% of the mortgage, consider it as an option. Just don’t decrease your liquidity for no reason.
| 7 |
Eltex
| 1,749,994,939 |
"Should I stop maxing out my 401k" - this time with a twist
|
Alright, I'm sure this subreddit is sick of this question but I have a somewhat unique scenario and I'm curious about your opinion:
- Single 38 year old man, no kids
- Salary: $190k
- Old job 401k: $103k
- Current Job 401K: $113k(Company matches 4% after I contribute 8%)
- Roth IRA: $23k
- Emergency Fund: $10k
- Index Funds: $10k
- $90k in Amazon/Microsoft/Nvidia/Apple Stock(Though, I was thinking about selling this to dump the 90k into my mortgage)
- I just bought my first piece of property - a **$575k** condo, that I put 25% down on. My monthly payments are **$3900** before power/gas/internet and that number is, admittedly, scaring me a little bit. I have a 6.5% interest loan that I plan to refinance the second the rates go down, but my strategy otherwise, is to aggressively attack the principal every month by paying as much as I can while keeping my $10k emergency fund in tact.
- I have a paid off car that I do not rely on(I bike to work), I don't have any student debt, I don't have any credit card debt(pay the entire balance off every month). Literally, the only debt I have is my mortgage.
**So here is the twist**. I've been looking at the outcomes of all the men in my family and they *all* die before 60. My dad, both of my uncles, my grandfathers on both sides. Literally ALL of them. My two brothers and I joke that 60 is the "high score". And they pass for various reasons. Heart complications, diabetes is prevalent in my lineage, various different cancers. In other words, its not like they are dying from driving wrecklessly or skydiving or something. They are dying for reasons that I myself can probably reasonably forecast for myself.
I'm not claiming to be a specialist in genetics but I am of decently firm belief that there's some things you just cant out run. Sure, maybe I can "break" the highscore, but for how long after 60 will I be able to enjoy the savings I've accumulated, if ever?
Granted, my brothers and I are first generation Americans where our parents(and all of the aforementioned men from both sides of our parents family) come from a country with horrible healthcare. Additionally, all these people had horrible diets, drank a ton of alcohol, my dad was a smoker and a lot of these guys didn't exercise and developed giant beer guts that probably accelerated their death. Personally, I run 2 times a week, I don't drink or smoke but I'll admit, I do indulge when it comes to food. Its my biggest vice.
So with that said, I've been maxing my 401k out every year since 2016. But am I going about this all wrong if I may not even make it to 65? And if I do, with compound interest growing at a rate of, lets say 8%, do I have enough to live to 70...80? Okay, that question is harder to ask, but I am curious if maybe I shouldn't be so heavy on my 401k.
**And to be clear, if I did drop my 401k down to 8% to get the 4% company match, I'm not exactly going to buy a jet ski with the extra money. My goal with the extra money would be to pay down my mortgage more aggressively.**
Thoughts? Thank you for those that stuck around that long diatribe!
| 28 |
DeadBy60
| 1,749,937,971 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1lbk5mv/should_i_stop_maxing_out_my_401k_this_time_with_a/
|
1hvgc7u
|
m5t223r
|
You should be saving more. You should post your budget.
| 7 |
Numerous-Ad4715
| 1,736,216,659 |
Would like retirement planning perspective. 38m. Military benefits for life.
|
38m, married. Currently make 65k a year from my job which offers a 403B retirement plan with 3% employer match. Also bring in 54k a year from military benefits, which brings my total income to just over 110k a year before taxes. Each month the wife and I save about 1k, give or take a couple hundred.
I'll receive the military benefits until I pass, so I feel like I have a solid foundation for retiring whenever I want.
In my mind, it seems wise to be more aggressive with where I invest for my retirement account but I'm looking at the numbers between difference funds and indexes, I'm a little overwhelmed.
Should I invest heavily in small cap? Move funds to a IRA? Or invest more into different stocks like Amazon, etc....
Please advise!
| 21 |
VeritableSoup
| 1,736,214,716 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1hvgc7u/would_like_retirement_planning_perspective_38m/
|
1hvgc7u
|
m5t0mf7
|
With your guaranteed benefits you don’t need too much fancy investing to get where you need to be. I’d just put whatever you can afford into your 403b, invest mostly in a stock index fund with a low annual fee (like 0.05%). Then don’t fiddle with it until you’re a few years out from retirement.
At that point you can decide if you want to sell some stocks and buy bonds so your retirement account isn’t super volatile right when you retire.
There’s not too much else to it from an investing standpoint. I would not invest in individual stocks.
| 5 |
Actual-Outcome3955
| 1,736,216,161 |
Would like retirement planning perspective. 38m. Military benefits for life.
|
38m, married. Currently make 65k a year from my job which offers a 403B retirement plan with 3% employer match. Also bring in 54k a year from military benefits, which brings my total income to just over 110k a year before taxes. Each month the wife and I save about 1k, give or take a couple hundred.
I'll receive the military benefits until I pass, so I feel like I have a solid foundation for retiring whenever I want.
In my mind, it seems wise to be more aggressive with where I invest for my retirement account but I'm looking at the numbers between difference funds and indexes, I'm a little overwhelmed.
Should I invest heavily in small cap? Move funds to a IRA? Or invest more into different stocks like Amazon, etc....
Please advise!
| 21 |
VeritableSoup
| 1,736,214,716 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1hvgc7u/would_like_retirement_planning_perspective_38m/
|
1hoivs7
|
m49z8b5
|
You're probably better off waiting until your girlfriend can move out with you—splitting the expenses will make things way more manageable. In the meantime, take a few months to test your budget. Set aside $1,400 each month into a savings account, like you're already paying rent. That way, you’ll see if you can handle the costs without messing up your financial health. Plus, saving aggressively now will give you a solid cushion for when you both eventually move in together
| 11 |
Odd_Course_739
| 1,735,431,869 |
Should I rent an apartment or stay living with parents?
|
I’m 22, started a new position about 2.5 months ago, it pays 63k a year, after taxes my monthly income is about $4080. I’m currently living with my parents, but on the fence about waiting to move out, since living here is free. I have found that you shouldn’t spend more than 30% of your monthly income on rent, which for me comes out to be about $1220. I found a nice 1 bed, 1 bath apartment in a nice area, half the commute to work (currently is 50 minutes). The rent is typically about $1400 a month, but they have a deal running for $1200 a month for a larger and nicer apartment than my other options for roughly the sam price. I did the math and after accounting for rent, utilities, gas, car payment, car insurance, groceries, student loan payments, various subscriptions (gym, Amazon, etc), and putting away about $500 into savings each month. I’d be left with just under $1000 a month to just “have”. In my mind that sounds pretty good considering that’s after groceries, gas, etc. However, I’m still new to life as I only recently graduated college so idk if that is actually a good plan. Saving all that money by staying with my parents is definitely a good plan, but I also plan to move out within the year (2025) to live with my girlfriend. Saving would be nice, but with my parents, we have dogs who are insane and jump and steal everything and it feels like you truly can’t relax cause they could starting barking out of nowhere or steal something. Because kf them I also can’t really pursue any hobbies I want because someone always needs to be watching the dogs so I barely get any time to myself, also cause of my long commute. And my parents can be “difficult” at times. Don’t get me wrong, I’m extremely grateful for everything they’ve done for me, but I want to move out. Is all that money every month worth it? Will I end up broke? Advice? Sorry it was so long.
| 12 |
JoeyBananas314
| 1,735,430,081 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1hoivs7/should_i_rent_an_apartment_or_stay_living_with/
|
1hoivs7
|
m49uy6c
|
As a 32m who left my parents asap. I highly suggest staying with parents if you are comfortable and save up to buy a home. Make sure you are also contributing to your employer 401k of at least 10% and never stop.
| 14 |
NibblyWibly
| 1,735,430,407 |
Should I rent an apartment or stay living with parents?
|
I’m 22, started a new position about 2.5 months ago, it pays 63k a year, after taxes my monthly income is about $4080. I’m currently living with my parents, but on the fence about waiting to move out, since living here is free. I have found that you shouldn’t spend more than 30% of your monthly income on rent, which for me comes out to be about $1220. I found a nice 1 bed, 1 bath apartment in a nice area, half the commute to work (currently is 50 minutes). The rent is typically about $1400 a month, but they have a deal running for $1200 a month for a larger and nicer apartment than my other options for roughly the sam price. I did the math and after accounting for rent, utilities, gas, car payment, car insurance, groceries, student loan payments, various subscriptions (gym, Amazon, etc), and putting away about $500 into savings each month. I’d be left with just under $1000 a month to just “have”. In my mind that sounds pretty good considering that’s after groceries, gas, etc. However, I’m still new to life as I only recently graduated college so idk if that is actually a good plan. Saving all that money by staying with my parents is definitely a good plan, but I also plan to move out within the year (2025) to live with my girlfriend. Saving would be nice, but with my parents, we have dogs who are insane and jump and steal everything and it feels like you truly can’t relax cause they could starting barking out of nowhere or steal something. Because kf them I also can’t really pursue any hobbies I want because someone always needs to be watching the dogs so I barely get any time to myself, also cause of my long commute. And my parents can be “difficult” at times. Don’t get me wrong, I’m extremely grateful for everything they’ve done for me, but I want to move out. Is all that money every month worth it? Will I end up broke? Advice? Sorry it was so long.
| 12 |
JoeyBananas314
| 1,735,430,081 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1hoivs7/should_i_rent_an_apartment_or_stay_living_with/
|
1hoivs7
|
m49vfk7
|
I totally get the frustration living at home. That can be a lot. You said you plan to move in with your girlfriend in 2025. Could you move that timeline up but save up in the meantime? As someone that hates moving, that’s a lot of moving. Plus, having someone to split rent with is helpful.
| 5 |
jakebobby802
| 1,735,430,577 |
Should I rent an apartment or stay living with parents?
|
I’m 22, started a new position about 2.5 months ago, it pays 63k a year, after taxes my monthly income is about $4080. I’m currently living with my parents, but on the fence about waiting to move out, since living here is free. I have found that you shouldn’t spend more than 30% of your monthly income on rent, which for me comes out to be about $1220. I found a nice 1 bed, 1 bath apartment in a nice area, half the commute to work (currently is 50 minutes). The rent is typically about $1400 a month, but they have a deal running for $1200 a month for a larger and nicer apartment than my other options for roughly the sam price. I did the math and after accounting for rent, utilities, gas, car payment, car insurance, groceries, student loan payments, various subscriptions (gym, Amazon, etc), and putting away about $500 into savings each month. I’d be left with just under $1000 a month to just “have”. In my mind that sounds pretty good considering that’s after groceries, gas, etc. However, I’m still new to life as I only recently graduated college so idk if that is actually a good plan. Saving all that money by staying with my parents is definitely a good plan, but I also plan to move out within the year (2025) to live with my girlfriend. Saving would be nice, but with my parents, we have dogs who are insane and jump and steal everything and it feels like you truly can’t relax cause they could starting barking out of nowhere or steal something. Because kf them I also can’t really pursue any hobbies I want because someone always needs to be watching the dogs so I barely get any time to myself, also cause of my long commute. And my parents can be “difficult” at times. Don’t get me wrong, I’m extremely grateful for everything they’ve done for me, but I want to move out. Is all that money every month worth it? Will I end up broke? Advice? Sorry it was so long.
| 12 |
JoeyBananas314
| 1,735,430,081 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1hoivs7/should_i_rent_an_apartment_or_stay_living_with/
|
1fu8742
|
lpxv5vh
|
It's 16k more than nothing and ~76k less than you're allowed to have contributed. If you can afford to add more, do. If not, keep doing what you can.
| 45 |
NewUnderstanding4901
| 1,727,851,835 |
Is having 16k in my 401k after four years good?
|
Sorry to be a bother, just curious. I'm 32 and have been working at Amazon for the last four years (4 years on the 4th).
I currently have just shy of 16k in my 401k and am unsure if that's good or not after nearly half a decade here. The only comparison I have is from my last job, where I had 10k after 5 years there.
Thank you in advance!
| 32 |
DustierSaturn
| 1,727,844,013 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1fu8742/is_having_16k_in_my_401k_after_four_years_good/
|
1fu8742
|
lpxn3l3
|
Should look at your overall picture. At 32, you should have about 1x your annual salary saved. And by 40 about 3x your annual. Are you there? Are you on track to reach that?
| 31 |
VarietyHuge9938
| 1,727,846,783 |
Is having 16k in my 401k after four years good?
|
Sorry to be a bother, just curious. I'm 32 and have been working at Amazon for the last four years (4 years on the 4th).
I currently have just shy of 16k in my 401k and am unsure if that's good or not after nearly half a decade here. The only comparison I have is from my last job, where I had 10k after 5 years there.
Thank you in advance!
| 32 |
DustierSaturn
| 1,727,844,013 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1fu8742/is_having_16k_in_my_401k_after_four_years_good/
|
1fu8742
|
lpy42vm
|
Nobody has asked what your 401(k) is invested in! So… what’s the answer to that?
| 10 |
McKnuckle_Brewery
| 1,727,858,101 |
Is having 16k in my 401k after four years good?
|
Sorry to be a bother, just curious. I'm 32 and have been working at Amazon for the last four years (4 years on the 4th).
I currently have just shy of 16k in my 401k and am unsure if that's good or not after nearly half a decade here. The only comparison I have is from my last job, where I had 10k after 5 years there.
Thank you in advance!
| 32 |
DustierSaturn
| 1,727,844,013 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1fu8742/is_having_16k_in_my_401k_after_four_years_good/
|
1fu8742
|
lpyb2ky
|
So, does that mean you have $26,000 total? If so, you’re doing well. And even if it’s $16.000 total, you’re still doing better than most. Keep going and don’t stop. Just make sure you’re in the S&P 500 and your money is growing.
| 7 |
Efficient_Wing3172
| 1,727,863,047 |
Is having 16k in my 401k after four years good?
|
Sorry to be a bother, just curious. I'm 32 and have been working at Amazon for the last four years (4 years on the 4th).
I currently have just shy of 16k in my 401k and am unsure if that's good or not after nearly half a decade here. The only comparison I have is from my last job, where I had 10k after 5 years there.
Thank you in advance!
| 32 |
DustierSaturn
| 1,727,844,013 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1fu8742/is_having_16k_in_my_401k_after_four_years_good/
|
1fu8742
|
lpyn77t
|
Congrats on your savings. You are ahead of many other people.
16 grand is not huge but can do a lot in the next 30 years. Go onto an online calculator and see how that can grow and see how much difference it can make if you bump it up incrementally over the next 25 years. I think you will be encouraged to save even more in the future.
| 6 |
magaketo
| 1,727,869,807 |
Is having 16k in my 401k after four years good?
|
Sorry to be a bother, just curious. I'm 32 and have been working at Amazon for the last four years (4 years on the 4th).
I currently have just shy of 16k in my 401k and am unsure if that's good or not after nearly half a decade here. The only comparison I have is from my last job, where I had 10k after 5 years there.
Thank you in advance!
| 32 |
DustierSaturn
| 1,727,844,013 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1fu8742/is_having_16k_in_my_401k_after_four_years_good/
|
1cltoso
|
l2vwo2b
|
Sell whatever you need to cover your living expenses after paying tuition
| 21 |
gpbuilder
| 1,715,029,187 |
Should I sell some stock to afford tuition?
|
Is is foolish to sell 5,000-6,000 dollars worth of stock to help pay for my tuition?
I am taking three courses this summer in order to complete my bachelors degree. (11 credits total)
The total cost will be around 7,500-8,000 dollars. All my money at the moment is invested through my Roth IRA and a personal brokerage account.
I will be returning to my parents home so will no longer have a rent expense as my lease is up. I will also be working full time now.
I hold the following positions:
Amazon
Nike
Berkshire Hathaway
Netflix
Microsoft
Portfolio value is around 27,000 dollars.
I could work and pay the courses off over the span of the summer but that will leave me with very little money each week.
Advice is appreciated!
| 19 |
BigService6841
| 1,715,028,472 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1cltoso/should_i_sell_some_stock_to_afford_tuition/
|
1cltoso
|
l2wl5b6
|
No. it's not foolish.
But it might not be the best choice.
Which will be more valuable 40 years from now? your education? Or Amazon, Nike, Berkshire Hathaway, Netflix, and Microsoft? Anybody who is absolutely certain that ANBhNM ***will*** be more valuable is the fool.
Back when I was growing up, Amazon, Netflix, and Microsoft didn't exist. Two of the big titans in industry back then were GM and GE. Look where they are now.
Most people believe in diversification. Selling some stock to fund your education is a form of diversification.
| 14 |
micha8st
| 1,715,038,534 |
Should I sell some stock to afford tuition?
|
Is is foolish to sell 5,000-6,000 dollars worth of stock to help pay for my tuition?
I am taking three courses this summer in order to complete my bachelors degree. (11 credits total)
The total cost will be around 7,500-8,000 dollars. All my money at the moment is invested through my Roth IRA and a personal brokerage account.
I will be returning to my parents home so will no longer have a rent expense as my lease is up. I will also be working full time now.
I hold the following positions:
Amazon
Nike
Berkshire Hathaway
Netflix
Microsoft
Portfolio value is around 27,000 dollars.
I could work and pay the courses off over the span of the summer but that will leave me with very little money each week.
Advice is appreciated!
| 19 |
BigService6841
| 1,715,028,472 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1cltoso/should_i_sell_some_stock_to_afford_tuition/
|
1cltoso
|
l2w7mzr
|
Guessing you're young with a lot of options. Whatever you do, make investing in your 20s a priority. The earlier you put money in the more it skyrockets over time. Compound interest starting that young goes BANANAS and you'll end up getting MORE capital appreciation with LESS capital deployed.
Again, whatever you do, start a position EARLY and keep adding to it. If you liquidate your current stock, do a straight VOO or a VOO/QQQ. Your current self with thank your future self. As a 42 year-old w/ a college degree and a big salary, if I could do it again, invest in S&P 500 or go to Art School, I would've invested and been a millionaire by now.
| 5 |
BiggyFluff
| 1,715,033,167 |
Should I sell some stock to afford tuition?
|
Is is foolish to sell 5,000-6,000 dollars worth of stock to help pay for my tuition?
I am taking three courses this summer in order to complete my bachelors degree. (11 credits total)
The total cost will be around 7,500-8,000 dollars. All my money at the moment is invested through my Roth IRA and a personal brokerage account.
I will be returning to my parents home so will no longer have a rent expense as my lease is up. I will also be working full time now.
I hold the following positions:
Amazon
Nike
Berkshire Hathaway
Netflix
Microsoft
Portfolio value is around 27,000 dollars.
I could work and pay the courses off over the span of the summer but that will leave me with very little money each week.
Advice is appreciated!
| 19 |
BigService6841
| 1,715,028,472 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1cltoso/should_i_sell_some_stock_to_afford_tuition/
|
170qjtj
|
k3mgdl8
|
$500 into a 529 and $500 toward the Amazon bill. I just created marital harmony!
| 140 |
future_is_vegan
| 1,696,536,629 |
What is the best use for money gifted to a baby?
|
Howdy everybody,
My son was born 09/23 and we were gifted money for him. My wife and I are having a disagreement on what to do with the checks/cash around $1,000 total right now. We have no need for this money right now, outside of the one time setup costs of a baby from Amazon. The amazon bill can be paid with no issues with our salary.
My opinion on this is to open up an investment account in his name, or a 529 plan and invest into a mutal fund, or etf that will grow.
My wifes opinion is she just wants to pay down the amazon bill.
What is the thought process on this from the wonderful world on reddit?
| 30 |
Ancient-Advisor9289
| 1,696,533,225 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/170qjtj/what_is_the_best_use_for_money_gifted_to_a_baby/
|
170qjtj
|
k3mhfqv
|
Babysitter fund for date nights.
Sounds terrible but y'all need to stay together for that money to matter anyway
| 69 |
Horror-Luck7709
| 1,696,536,999 |
What is the best use for money gifted to a baby?
|
Howdy everybody,
My son was born 09/23 and we were gifted money for him. My wife and I are having a disagreement on what to do with the checks/cash around $1,000 total right now. We have no need for this money right now, outside of the one time setup costs of a baby from Amazon. The amazon bill can be paid with no issues with our salary.
My opinion on this is to open up an investment account in his name, or a 529 plan and invest into a mutal fund, or etf that will grow.
My wifes opinion is she just wants to pay down the amazon bill.
What is the thought process on this from the wonderful world on reddit?
| 30 |
Ancient-Advisor9289
| 1,696,533,225 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/170qjtj/what_is_the_best_use_for_money_gifted_to_a_baby/
|
170qjtj
|
k3m91bv
|
Neither of those are bad. However, since you're talking about gifts... which use best fits the intent of the giver?
Can y'all pay for the Amazon baby gear bill from your existing money? If so, then you can afford to take existing money to fund the 529 and let your wife use the gift money for the bill. 6 of one, half-dozen for the other.
I'm in my late 50s, with 3 kids in their 20s.
A few years ago, I got an inheritance in the form of an inherited IRA. I'm under the old rules, and I've elected to drib money out using RMDs.
a year after the inheritance, we decided to take the family for one last big trip, to visit friends overseas. It turns out that the trip cost about what I inherited. We'd saved for the trip, but for some reason my wife still likes thinking that my inheritance paid for the trip.
| 23 |
micha8st
| 1,696,534,045 |
What is the best use for money gifted to a baby?
|
Howdy everybody,
My son was born 09/23 and we were gifted money for him. My wife and I are having a disagreement on what to do with the checks/cash around $1,000 total right now. We have no need for this money right now, outside of the one time setup costs of a baby from Amazon. The amazon bill can be paid with no issues with our salary.
My opinion on this is to open up an investment account in his name, or a 529 plan and invest into a mutal fund, or etf that will grow.
My wifes opinion is she just wants to pay down the amazon bill.
What is the thought process on this from the wonderful world on reddit?
| 30 |
Ancient-Advisor9289
| 1,696,533,225 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/170qjtj/what_is_the_best_use_for_money_gifted_to_a_baby/
|
170qjtj
|
k3nml30
|
The best gift you can give to your kids is a 529 so they don’t end up in debt after college. The best part of the 529 is that the money that is not used for college expenses can be rolled to a Roth IRA
| 10 |
nachoslove
| 1,696,553,446 |
What is the best use for money gifted to a baby?
|
Howdy everybody,
My son was born 09/23 and we were gifted money for him. My wife and I are having a disagreement on what to do with the checks/cash around $1,000 total right now. We have no need for this money right now, outside of the one time setup costs of a baby from Amazon. The amazon bill can be paid with no issues with our salary.
My opinion on this is to open up an investment account in his name, or a 529 plan and invest into a mutal fund, or etf that will grow.
My wifes opinion is she just wants to pay down the amazon bill.
What is the thought process on this from the wonderful world on reddit?
| 30 |
Ancient-Advisor9289
| 1,696,533,225 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/170qjtj/what_is_the_best_use_for_money_gifted_to_a_baby/
|
170qjtj
|
k3mrvjl
|
We decided to open a Vanguard account for our baby and invest all her gift money in index funds. As she gets older we will use the account to teach her about the importance of investing, plus also buy her stock as a birthday tradition. At some point we will give her control but not sure when.
We are separately investing in a 529.
| 6 |
UpbeatCake
| 1,696,540,718 |
What is the best use for money gifted to a baby?
|
Howdy everybody,
My son was born 09/23 and we were gifted money for him. My wife and I are having a disagreement on what to do with the checks/cash around $1,000 total right now. We have no need for this money right now, outside of the one time setup costs of a baby from Amazon. The amazon bill can be paid with no issues with our salary.
My opinion on this is to open up an investment account in his name, or a 529 plan and invest into a mutal fund, or etf that will grow.
My wifes opinion is she just wants to pay down the amazon bill.
What is the thought process on this from the wonderful world on reddit?
| 30 |
Ancient-Advisor9289
| 1,696,533,225 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/170qjtj/what_is_the_best_use_for_money_gifted_to_a_baby/
|
170qjtj
|
k3mk07x
|
My baby is all in on SPY for birthday and Christmas money.
| 6 |
facerollwiz
| 1,696,537,893 |
What is the best use for money gifted to a baby?
|
Howdy everybody,
My son was born 09/23 and we were gifted money for him. My wife and I are having a disagreement on what to do with the checks/cash around $1,000 total right now. We have no need for this money right now, outside of the one time setup costs of a baby from Amazon. The amazon bill can be paid with no issues with our salary.
My opinion on this is to open up an investment account in his name, or a 529 plan and invest into a mutal fund, or etf that will grow.
My wifes opinion is she just wants to pay down the amazon bill.
What is the thought process on this from the wonderful world on reddit?
| 30 |
Ancient-Advisor9289
| 1,696,533,225 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/170qjtj/what_is_the_best_use_for_money_gifted_to_a_baby/
|
170qjtj
|
k3mxc51
|
Long term investment account.
By the time they're 18, college could be part paid for.
| 5 |
new-hot-hubbs
| 1,696,542,792 |
What is the best use for money gifted to a baby?
|
Howdy everybody,
My son was born 09/23 and we were gifted money for him. My wife and I are having a disagreement on what to do with the checks/cash around $1,000 total right now. We have no need for this money right now, outside of the one time setup costs of a baby from Amazon. The amazon bill can be paid with no issues with our salary.
My opinion on this is to open up an investment account in his name, or a 529 plan and invest into a mutal fund, or etf that will grow.
My wifes opinion is she just wants to pay down the amazon bill.
What is the thought process on this from the wonderful world on reddit?
| 30 |
Ancient-Advisor9289
| 1,696,533,225 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/170qjtj/what_is_the_best_use_for_money_gifted_to_a_baby/
|
170qjtj
|
k3n9a6i
|
As the gift-giver, I would be seriously annoyed if it was used for anything but an investment account/IRA. If I’m giving the baby money, that’s what I’m giving money for. If I wanted you to pay your bills with it, I’d give it to you. Yes, I know it’s a baby-related bill, but that’s still how I’d feel about it. I wouldn’t want to gift the baby any money in the future because I’d feel like his parents would just take it
| 7 |
al_s27
| 1,696,547,720 |
What is the best use for money gifted to a baby?
|
Howdy everybody,
My son was born 09/23 and we were gifted money for him. My wife and I are having a disagreement on what to do with the checks/cash around $1,000 total right now. We have no need for this money right now, outside of the one time setup costs of a baby from Amazon. The amazon bill can be paid with no issues with our salary.
My opinion on this is to open up an investment account in his name, or a 529 plan and invest into a mutal fund, or etf that will grow.
My wifes opinion is she just wants to pay down the amazon bill.
What is the thought process on this from the wonderful world on reddit?
| 30 |
Ancient-Advisor9289
| 1,696,533,225 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/170qjtj/what_is_the_best_use_for_money_gifted_to_a_baby/
|
16ujff6
|
k2lc3ep
|
>And renting (with pets) even a small apartment would be about the same as our mortgage in our area.
You're right there is no reason to sell. You'll be in a worse situation financially. Respectfully you're just kicking the bucket down the road.
Better option may be to get a line of credit against your home. Rates will be better than personal loans and/or credit cards for sure.
IDK how much extra you need per month to cover expenses so that your income and expenses equal out. But a 2nd job may be an option especially if your nights and weekends are free. Honestly I would pursue a 2nd job before anything else.
| 16 |
johnny_fives_555
| 1,695,916,602 |
Sell the house? Or are there options?
|
Hi all. Looking for some perspective.
*<Edited to include budget>*
My (34) spouse (34f) became disabled in June 2020. Up until that point, we had been living like two young career-driven individuals with savings, a good joint income and a perspective that things would just keep going well for us (RIP to that naivety). We bought a house in 2019 in a nice area of a large midwestern city. No kids, cc debt but we weren't worried about paying it off. While she will likely be able to work again, it likely won't be until 2025. We're nearing the end of our runway before we have to make a change and it seems like selling the house is it, and, it seems like it would actually make us worse off. Some data below:
* My salary: 103K (Job-searching for \~4mos because I'm pretty sure I can make 120-140 in my next position jump)
* Mortgage: $1600/mo, interest rate 4.2% (we have \~200K left on the house)
* CC Debt: $35K (all on 0% interest except 1; we take advantage of balance transfers and pay more than the minimums)
* Federal student loan debt: $40K between us
* Our car is paid off.
* We have about $100K in home equity; and our credit scores are in the mid-700s. And about $35K left savings, and $120K in our 401K/IRAs.
* Treatments for her illness are expensive ($500-$1K/mo), even with good insurance.
Budget:
Take home is \~$6,900/mo (which \*just\* increased $600 in the last month due to a cost of living adjustment)
* Home (Mortgage, taxes, maintenance, heat gas water): $2,600
* Car (insurance and gas ($100/mo)
* Food $1300 (we don't eat out or drink at all, but have invested in eating organic everything to help with health issues)
* Pet (3) costs (food, insurance, occasional boarding when I have to travel for work) = $275
* Health treatments/medicine: $1,000
* Credit card bills = $1,000+
* Phone + internet, streaming = 210
* OTHER= $700/mo (spread out over a year, things like: small amazon purchases that slip through the cracks, cleaning supplies, going to my sister's wedding; new lawn mower needed, linkedin premium a few months while searching for a job; some updated work clothes, haircuts)
* = $7200 (give or take $100-200)
**So I guess my main question:** Are there any steps you would take before selling the house? We are fairly certain, based on the location, that the property value will only keep going up. Based on our current debt:income ratio, we wouldn't be able to buy again for awhile. And renting (with pets) even a small apartment would be about the same as our mortgage in our area. And while I do think I can make more annually, until I get a job, I'm still dealing with the reality that soon we won't have reserves to draw on and my salary doesn't cover our expenses.
Whatdy'a think?
​
| 12 |
Relevant-Clothes-938
| 1,695,915,824 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/16ujff6/sell_the_house_or_are_there_options/
|
16ujff6
|
k2lh5ml
|
SSDI, file separately to reduce her loan payments to zero, buckle down and live frugally
| 10 |
dunDunDUNNN
| 1,695,918,406 |
Sell the house? Or are there options?
|
Hi all. Looking for some perspective.
*<Edited to include budget>*
My (34) spouse (34f) became disabled in June 2020. Up until that point, we had been living like two young career-driven individuals with savings, a good joint income and a perspective that things would just keep going well for us (RIP to that naivety). We bought a house in 2019 in a nice area of a large midwestern city. No kids, cc debt but we weren't worried about paying it off. While she will likely be able to work again, it likely won't be until 2025. We're nearing the end of our runway before we have to make a change and it seems like selling the house is it, and, it seems like it would actually make us worse off. Some data below:
* My salary: 103K (Job-searching for \~4mos because I'm pretty sure I can make 120-140 in my next position jump)
* Mortgage: $1600/mo, interest rate 4.2% (we have \~200K left on the house)
* CC Debt: $35K (all on 0% interest except 1; we take advantage of balance transfers and pay more than the minimums)
* Federal student loan debt: $40K between us
* Our car is paid off.
* We have about $100K in home equity; and our credit scores are in the mid-700s. And about $35K left savings, and $120K in our 401K/IRAs.
* Treatments for her illness are expensive ($500-$1K/mo), even with good insurance.
Budget:
Take home is \~$6,900/mo (which \*just\* increased $600 in the last month due to a cost of living adjustment)
* Home (Mortgage, taxes, maintenance, heat gas water): $2,600
* Car (insurance and gas ($100/mo)
* Food $1300 (we don't eat out or drink at all, but have invested in eating organic everything to help with health issues)
* Pet (3) costs (food, insurance, occasional boarding when I have to travel for work) = $275
* Health treatments/medicine: $1,000
* Credit card bills = $1,000+
* Phone + internet, streaming = 210
* OTHER= $700/mo (spread out over a year, things like: small amazon purchases that slip through the cracks, cleaning supplies, going to my sister's wedding; new lawn mower needed, linkedin premium a few months while searching for a job; some updated work clothes, haircuts)
* = $7200 (give or take $100-200)
**So I guess my main question:** Are there any steps you would take before selling the house? We are fairly certain, based on the location, that the property value will only keep going up. Based on our current debt:income ratio, we wouldn't be able to buy again for awhile. And renting (with pets) even a small apartment would be about the same as our mortgage in our area. And while I do think I can make more annually, until I get a job, I'm still dealing with the reality that soon we won't have reserves to draw on and my salary doesn't cover our expenses.
Whatdy'a think?
​
| 12 |
Relevant-Clothes-938
| 1,695,915,824 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/16ujff6/sell_the_house_or_are_there_options/
|
167ober
|
jyt0r0f
|
Those companies are already a huge chunk of the S&P 500. Buy a few Vanguard indexes- maybe 50% S&P, 20% international, 20% small and mid cap, and 10% bonds.
| 73 |
purpletree37
| 1,693,661,476 |
How to turn $250k into $1mil in 20 years
|
I have $250k I’m trying to figure out what to do with. I have 401k I max and IRA with vanguard ETFs. My first thought is buy equal amount of Alphabet, Amazon, Tesla, and Apple but I am conflicted. This is my chance to gain some real wealth aside from my retirement and social security. I’m 46 and own a house with about $130k in equity. Make 135k a year. What do you guys is the best way to approach my goal?
| 33 |
TruBeast666
| 1,693,615,509 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/167ober/how_to_turn_250k_into_1mil_in_20_years/
|
167ober
|
jyt4gwc
|
While I understand why you might choose GOOG, AMZN, TSLA, and AAPL, I don't know if that 20 year bet is as certain as it may seem today. For example, if you were to turn the clock BACK 20 years and choose the top 4 of the Fortune 500 to place the same bet, you would have purchased Wal-Mart, GM, Exxon, and Ford. I haven't run the numbers, but I'm pretty sure you would have come ahead much farther with either the S&P 500 or NASDAQ over that save period.
| 27 |
medhat20005
| 1,693,663,175 |
How to turn $250k into $1mil in 20 years
|
I have $250k I’m trying to figure out what to do with. I have 401k I max and IRA with vanguard ETFs. My first thought is buy equal amount of Alphabet, Amazon, Tesla, and Apple but I am conflicted. This is my chance to gain some real wealth aside from my retirement and social security. I’m 46 and own a house with about $130k in equity. Make 135k a year. What do you guys is the best way to approach my goal?
| 33 |
TruBeast666
| 1,693,615,509 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/167ober/how_to_turn_250k_into_1mil_in_20_years/
|
167ober
|
jytdgni
|
Seems like you can just buy VOO and set to drip and check back in 20 years and be good.
| 10 |
ScoDucks89
| 1,693,666,823 |
How to turn $250k into $1mil in 20 years
|
I have $250k I’m trying to figure out what to do with. I have 401k I max and IRA with vanguard ETFs. My first thought is buy equal amount of Alphabet, Amazon, Tesla, and Apple but I am conflicted. This is my chance to gain some real wealth aside from my retirement and social security. I’m 46 and own a house with about $130k in equity. Make 135k a year. What do you guys is the best way to approach my goal?
| 33 |
TruBeast666
| 1,693,615,509 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/167ober/how_to_turn_250k_into_1mil_in_20_years/
|
167ober
|
jyth13u
|
You need about 7% return. Just buy an index fund with that average annual return or better.
| 9 |
Inevitable_Silver_13
| 1,693,668,187 |
How to turn $250k into $1mil in 20 years
|
I have $250k I’m trying to figure out what to do with. I have 401k I max and IRA with vanguard ETFs. My first thought is buy equal amount of Alphabet, Amazon, Tesla, and Apple but I am conflicted. This is my chance to gain some real wealth aside from my retirement and social security. I’m 46 and own a house with about $130k in equity. Make 135k a year. What do you guys is the best way to approach my goal?
| 33 |
TruBeast666
| 1,693,615,509 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/167ober/how_to_turn_250k_into_1mil_in_20_years/
|
14mdj3z
|
jq1kj8l
|
those non-monthly 'we would have been fine except x happened' but next month it's y pattern is so good to recognize. When you see this, it's easier to make some of the harder small tradeoffs you might have waved off before, like giving smaller gifts, postponing non-urgent home improvement things for a few months (procrastination is a surprisingly effective technique).
And now you have those spaces where it's obvious how to allocate windfalls. It is surprising how many windfalls actually happen when the money isn't just flowing through your hands and you're being intentional about it.
| 7 |
janeplainjane_canada
| 1,688,071,577 |
After 1.5 month of serious budgeting, my spending is getting better but not much
|
Since late May, I realized I hadn't been budgeting at all, which caused me to become broke without even realizing it. I made an effort to properly categorize my expenses in both Mint and YNAB, and now I feel much more aware of my actual budget.
Here are the positive outcomes I've experienced:
\* **I've come to realize the existence of non-monthly expenses** such as car registration, home insurance, flood insurance, annual subscriptions, credit card annual fees, medical bills, gifts, home improvement, car maintenance, and travel. I now understand that these expenses were catching me off guard and burdening me in the following months. It's no wonder I always felt like my budget was out of control, living paycheck to paycheck like that for so many years.
\* **I managed to spend $1,000 less than last month**, partially due to adopting a budgeting mindset when it comes to groceries and dining out, as well as reducing my spending on Amazon. The remaining decrease in spending was simply a result of fewer non-monthly expenses as mentioned in point 1.
Now, let's address the sad reality:
\* **Unfortunately, there isn't much room to simply cut costs in my household spending,** as I had hoped. However, I did manage to save on groceries, dining out, unnecessary subscriptions, and reduced my internet bill.
\* **Non-monthly expenses range between $1,000 and $2,500 every month, making it the biggest cost for me.** The only way to address this is by saving on these categories consistently each month upfront. I'm currently struggling to save enough for this list of expenses. For instance, I need to save for car registration, home insurance, flood insurance, and property tax at the very least. Additionally, there are annual subscriptions, credit card annual fees, medical bills, gifts, home improvement, and car maintenance to consider as secondary expenses. **The third priority** includes saving for a 529 plan, Roth IRA, home maintenance, and an emergency fund. It's challenging to come up with enough money to save for every category as I would like. It is a juggling for me, and most likely will have to under save some categories and wait for year end windfall to cover the bill.
I'm aware that building an emergency fund should be a top priority, and actually the third priority list is very important. but I feel compelled to meet the mandatory bills first before preparing for future disasters.
When faced with this phase, where I recognizes the problem but feels there's little I can do comfortably, it's often referred to as being "YNAB broke." So, how can people navigate through this situation? Is there any tips in practice or mental method to go through this stage?
| 38 |
ResponsibilitySad583
| 1,688,065,772 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/14mdj3z/after_15_month_of_serious_budgeting_my_spending/
|
13vr8ep
|
jm7h4tx
|
So many recurrent subscriptions that you probably don’t need, especially for your income.
| 34 |
alwayslookingout
| 1,685,457,711 |
Seeking Advice On Controlling The Urge To Overspend/Get Empowered With A 'Fun' Budget
|
Hi all,
I (30, F, living in Washington DC) realize that I've been overspending lately. I don't have any credit card debt, but after paying for rent this month, I'll only have $878 in my checking account before any other bills. I have about $4,800 in savings. I make about $1720 on the 31st/15th after taxes.
While this number is certainly better than where I've been in the past, my standards for financial stability have also changed. I make a meager income for the area - mid 50s working for a nonprofit.
My thing is - when I notice that I'm overspending, I tend to get very anxious and start panicking. But I don't really adjust my habits to the financial reality I'm in. I'm lucky and haven't yet held a balance on my card, I use it like a debit card and pay if off in full every few days.
Luckily I got rid of my car so I got to cancel my car insurance. I am also not going to renew my $80 gym membership when it expires in July. It's only $80 but at least that will create some wiggle room.
Also the planet fitness i got like 7 years ago and it's impossible to cancel it which is exactly what they want lol.
I am willing to splurge on rent to live alone in a nice, comfortable safe apartment in a neighborhood I love. I understand the 30% rule and obviously that is ideal, but in DC in particular you sometimes have to make deals with the devil. I initially got the apartment as a pandemic deal at $1395. After the pandemic order was lifted, my rent increased. I'm lucky that I only pay what I do.
The spending below is just my recurring expenses - god knows I'm an impulse spender. The grocery budget also is a bit flexible since I often don't spend $100 weekly.That's just my goal limit.
1525: Rent
400: Groceries
200: Savings
81: Gym
14.99: Amazon Prime
10: Planet Fitness
10.59: Spotify
5.29: Financial Diet
3.18: patreon
102: Phone
15.89: HBO Max
10: Majority Report
10: WaPo
10.59: Peacock
9.99: Icloud
16.94:Hulu
40: Pet Insurance (Pet insurance has already been worth the money as I have had about $3k in vet bills between January-May alone. With a 90% reimbursement rate, most of this has been reimbursed with the exception of the $500 deductible. I really really really recommend pet insurance, folks!)
60: Therapy
43: Wax
170: student loans (when they restart)
30-70: utilities (depending on the season - this month it's 30)
55: Metro
14.95: Audible
74: Cat food - (my cat is on a specific wet food diet. I may be switching her over to a dry food that she seems to like more which runs at $24 for a 3 pound bag. I'm not sure how long a 3 pound bag will last just yet.)
7: Apple TV+
I'm not entirely sure what my question is - but I just wonder how I can go from tracking spending and understanding my recurring expenses to actually forcing myself to limit spending outside of those expenses. I go to a bakery and/or coffee shop weekly on Saturdays - that's kind of my thing. I also am part of a rowing club with quarterly dues. I fell in love with that activity and I'm also willing to spend that money to do something good for myself physically, socially, and mentally.
I think it's the dumb stuff like going to starbucks or dunkin or realllly splurging on the weekends on clothes or something that hinders me.
But there's something scary about setting a 'anything goes' budget cap on those fun purchases. The psychology is that it feels very limiting when in reality I know that it would be empowering.
TLDR - Brains are weird.
| 20 |
ActuaryPersonal2378
| 1,685,455,430 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/13vr8ep/seeking_advice_on_controlling_the_urge_to/
|
13vr8ep
|
jm7khfb
|
Creating a budget and sticking to it usually comes with some sacrifices.
1. I understand not wanting to live in a dangerous place. If $1525 is what you’re paying, which I wouldn’t call high at all, especially for D.C., then keep it. But budgeters and savers would obviously say you should entertain the idea of a roommate to lower that cost. Besides that, I doubt you’ll find something better for lower price.
2. My main concern are your subscriptions. I tallied about $119 in digital subscriptions from streaming, to music, to newspapers. Even Patreon. I mean you’re giving money away. And that alone is almost your monthly savings. I’m not saying remove all creature comforts from your life here, and considering I don’t know your career and what you need to stay relevant for work (like the Washington Post), but I’d start canceling crap. If you have enough time to consume enough content to argue a $119/mo digital media cost, then you have enough time to get a second job.
3. Gym. What does this $80/mo place offer than Planet Fitness’ $10/mo can’t? I’d think long and hard about that one. How often do you even go to the gym? And IF you stay with the $80 option, just jump through the hoops and cancel Planet Fitness. You’ll have to mail a letter, but it can be done. Don’t be lazy.
4. Why on God’s Green Earth do you need $10/mo in iCloud storage? That’s like 1TB.
5. Things like waxing, therapy, pet insurance, metro card, etc. I won’t argue. I’m not a girl, we all need therapy, pet insurance is a life saver and since you don’t have a car, the metro is a life line.
Now, you need to track your spending, real time. There’s apps out there, free and at cost, that help you stay organized. But simple Excel or Apple Numbers can do the trick. There is nothing more humbling than seeing how much you spent in a given period of time. But as you spend, you need to manually log that expense for whatever category to keep a real time view of remaining money in each category. Most would call this the envelope system. You place X amount of dollars in a grocery envelope (physically or metaphorically) and you make it last. Once it’s gone, it’s gone. You either transfer from a different category or you don’t eat.
Credit cards. It’s a love or hate. They offer points, perks, financial security, and they build your credit up. But mismanaged, they’ll drive you into the ground. As a fellow impulse spender, I’d maybe only use 1 card, and try some psychological games with yourself. Keep it in a sleeve that says “Do I really need to spend the money” so when you pull it out, you challenge yourself.
Set a savings goal. One thing I’ve learned saving for a house is that I get so mad at myself when I can save less because I overspent. Because the house goal just drifts farther away. So set savings goals for yourself.
Before you cancel Audible, read/listen to The Psychology of Money.
Good luck
| 13 |
Picklemerick23
| 1,685,459,061 |
Seeking Advice On Controlling The Urge To Overspend/Get Empowered With A 'Fun' Budget
|
Hi all,
I (30, F, living in Washington DC) realize that I've been overspending lately. I don't have any credit card debt, but after paying for rent this month, I'll only have $878 in my checking account before any other bills. I have about $4,800 in savings. I make about $1720 on the 31st/15th after taxes.
While this number is certainly better than where I've been in the past, my standards for financial stability have also changed. I make a meager income for the area - mid 50s working for a nonprofit.
My thing is - when I notice that I'm overspending, I tend to get very anxious and start panicking. But I don't really adjust my habits to the financial reality I'm in. I'm lucky and haven't yet held a balance on my card, I use it like a debit card and pay if off in full every few days.
Luckily I got rid of my car so I got to cancel my car insurance. I am also not going to renew my $80 gym membership when it expires in July. It's only $80 but at least that will create some wiggle room.
Also the planet fitness i got like 7 years ago and it's impossible to cancel it which is exactly what they want lol.
I am willing to splurge on rent to live alone in a nice, comfortable safe apartment in a neighborhood I love. I understand the 30% rule and obviously that is ideal, but in DC in particular you sometimes have to make deals with the devil. I initially got the apartment as a pandemic deal at $1395. After the pandemic order was lifted, my rent increased. I'm lucky that I only pay what I do.
The spending below is just my recurring expenses - god knows I'm an impulse spender. The grocery budget also is a bit flexible since I often don't spend $100 weekly.That's just my goal limit.
1525: Rent
400: Groceries
200: Savings
81: Gym
14.99: Amazon Prime
10: Planet Fitness
10.59: Spotify
5.29: Financial Diet
3.18: patreon
102: Phone
15.89: HBO Max
10: Majority Report
10: WaPo
10.59: Peacock
9.99: Icloud
16.94:Hulu
40: Pet Insurance (Pet insurance has already been worth the money as I have had about $3k in vet bills between January-May alone. With a 90% reimbursement rate, most of this has been reimbursed with the exception of the $500 deductible. I really really really recommend pet insurance, folks!)
60: Therapy
43: Wax
170: student loans (when they restart)
30-70: utilities (depending on the season - this month it's 30)
55: Metro
14.95: Audible
74: Cat food - (my cat is on a specific wet food diet. I may be switching her over to a dry food that she seems to like more which runs at $24 for a 3 pound bag. I'm not sure how long a 3 pound bag will last just yet.)
7: Apple TV+
I'm not entirely sure what my question is - but I just wonder how I can go from tracking spending and understanding my recurring expenses to actually forcing myself to limit spending outside of those expenses. I go to a bakery and/or coffee shop weekly on Saturdays - that's kind of my thing. I also am part of a rowing club with quarterly dues. I fell in love with that activity and I'm also willing to spend that money to do something good for myself physically, socially, and mentally.
I think it's the dumb stuff like going to starbucks or dunkin or realllly splurging on the weekends on clothes or something that hinders me.
But there's something scary about setting a 'anything goes' budget cap on those fun purchases. The psychology is that it feels very limiting when in reality I know that it would be empowering.
TLDR - Brains are weird.
| 20 |
ActuaryPersonal2378
| 1,685,455,430 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/13vr8ep/seeking_advice_on_controlling_the_urge_to/
|
13vr8ep
|
jm89wyq
|
Do you put aside any of your income for retirement? That would be my biggest concern here. I also second needing to cut down your spending on subscriptions and cycling through them rather than paying for all of them every month. You're throwing away $120+ per year for a planet fitness membership you don't use, which you can certainly cancel if you put effort into it. Have you considered switching phone companies or calling and asking for a better deal? That's very expensive. I pay $37/month for Sprint/T-mobile.
| 5 |
Agreeable-Step-3242
| 1,685,468,833 |
Seeking Advice On Controlling The Urge To Overspend/Get Empowered With A 'Fun' Budget
|
Hi all,
I (30, F, living in Washington DC) realize that I've been overspending lately. I don't have any credit card debt, but after paying for rent this month, I'll only have $878 in my checking account before any other bills. I have about $4,800 in savings. I make about $1720 on the 31st/15th after taxes.
While this number is certainly better than where I've been in the past, my standards for financial stability have also changed. I make a meager income for the area - mid 50s working for a nonprofit.
My thing is - when I notice that I'm overspending, I tend to get very anxious and start panicking. But I don't really adjust my habits to the financial reality I'm in. I'm lucky and haven't yet held a balance on my card, I use it like a debit card and pay if off in full every few days.
Luckily I got rid of my car so I got to cancel my car insurance. I am also not going to renew my $80 gym membership when it expires in July. It's only $80 but at least that will create some wiggle room.
Also the planet fitness i got like 7 years ago and it's impossible to cancel it which is exactly what they want lol.
I am willing to splurge on rent to live alone in a nice, comfortable safe apartment in a neighborhood I love. I understand the 30% rule and obviously that is ideal, but in DC in particular you sometimes have to make deals with the devil. I initially got the apartment as a pandemic deal at $1395. After the pandemic order was lifted, my rent increased. I'm lucky that I only pay what I do.
The spending below is just my recurring expenses - god knows I'm an impulse spender. The grocery budget also is a bit flexible since I often don't spend $100 weekly.That's just my goal limit.
1525: Rent
400: Groceries
200: Savings
81: Gym
14.99: Amazon Prime
10: Planet Fitness
10.59: Spotify
5.29: Financial Diet
3.18: patreon
102: Phone
15.89: HBO Max
10: Majority Report
10: WaPo
10.59: Peacock
9.99: Icloud
16.94:Hulu
40: Pet Insurance (Pet insurance has already been worth the money as I have had about $3k in vet bills between January-May alone. With a 90% reimbursement rate, most of this has been reimbursed with the exception of the $500 deductible. I really really really recommend pet insurance, folks!)
60: Therapy
43: Wax
170: student loans (when they restart)
30-70: utilities (depending on the season - this month it's 30)
55: Metro
14.95: Audible
74: Cat food - (my cat is on a specific wet food diet. I may be switching her over to a dry food that she seems to like more which runs at $24 for a 3 pound bag. I'm not sure how long a 3 pound bag will last just yet.)
7: Apple TV+
I'm not entirely sure what my question is - but I just wonder how I can go from tracking spending and understanding my recurring expenses to actually forcing myself to limit spending outside of those expenses. I go to a bakery and/or coffee shop weekly on Saturdays - that's kind of my thing. I also am part of a rowing club with quarterly dues. I fell in love with that activity and I'm also willing to spend that money to do something good for myself physically, socially, and mentally.
I think it's the dumb stuff like going to starbucks or dunkin or realllly splurging on the weekends on clothes or something that hinders me.
But there's something scary about setting a 'anything goes' budget cap on those fun purchases. The psychology is that it feels very limiting when in reality I know that it would be empowering.
TLDR - Brains are weird.
| 20 |
ActuaryPersonal2378
| 1,685,455,430 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/13vr8ep/seeking_advice_on_controlling_the_urge_to/
|
13vr8ep
|
jm8njxz
|
Many libraries have newspaper subscriptions/online access I would check that for WaPo, not sure what the majority report, patreon, and financial report provide.
Why do you have two gyms, planet fitness and another. Guessing the one has classes or something not available but might be worth going down to one.
A lot of TV subscriptions are you sure you need all these every month, see if you could rotate between them, I keep some during the months of shows I like and cancel till the new season. If you cannot I would look into a yearly subscription since it is less per month. Even if you use them does it provide the value that you pay for them.
Overall you still do really well since you have a budget but utility rate near me are going to double this summer so be careful with that as well
| 5 |
Coynepam
| 1,685,474,025 |
Seeking Advice On Controlling The Urge To Overspend/Get Empowered With A 'Fun' Budget
|
Hi all,
I (30, F, living in Washington DC) realize that I've been overspending lately. I don't have any credit card debt, but after paying for rent this month, I'll only have $878 in my checking account before any other bills. I have about $4,800 in savings. I make about $1720 on the 31st/15th after taxes.
While this number is certainly better than where I've been in the past, my standards for financial stability have also changed. I make a meager income for the area - mid 50s working for a nonprofit.
My thing is - when I notice that I'm overspending, I tend to get very anxious and start panicking. But I don't really adjust my habits to the financial reality I'm in. I'm lucky and haven't yet held a balance on my card, I use it like a debit card and pay if off in full every few days.
Luckily I got rid of my car so I got to cancel my car insurance. I am also not going to renew my $80 gym membership when it expires in July. It's only $80 but at least that will create some wiggle room.
Also the planet fitness i got like 7 years ago and it's impossible to cancel it which is exactly what they want lol.
I am willing to splurge on rent to live alone in a nice, comfortable safe apartment in a neighborhood I love. I understand the 30% rule and obviously that is ideal, but in DC in particular you sometimes have to make deals with the devil. I initially got the apartment as a pandemic deal at $1395. After the pandemic order was lifted, my rent increased. I'm lucky that I only pay what I do.
The spending below is just my recurring expenses - god knows I'm an impulse spender. The grocery budget also is a bit flexible since I often don't spend $100 weekly.That's just my goal limit.
1525: Rent
400: Groceries
200: Savings
81: Gym
14.99: Amazon Prime
10: Planet Fitness
10.59: Spotify
5.29: Financial Diet
3.18: patreon
102: Phone
15.89: HBO Max
10: Majority Report
10: WaPo
10.59: Peacock
9.99: Icloud
16.94:Hulu
40: Pet Insurance (Pet insurance has already been worth the money as I have had about $3k in vet bills between January-May alone. With a 90% reimbursement rate, most of this has been reimbursed with the exception of the $500 deductible. I really really really recommend pet insurance, folks!)
60: Therapy
43: Wax
170: student loans (when they restart)
30-70: utilities (depending on the season - this month it's 30)
55: Metro
14.95: Audible
74: Cat food - (my cat is on a specific wet food diet. I may be switching her over to a dry food that she seems to like more which runs at $24 for a 3 pound bag. I'm not sure how long a 3 pound bag will last just yet.)
7: Apple TV+
I'm not entirely sure what my question is - but I just wonder how I can go from tracking spending and understanding my recurring expenses to actually forcing myself to limit spending outside of those expenses. I go to a bakery and/or coffee shop weekly on Saturdays - that's kind of my thing. I also am part of a rowing club with quarterly dues. I fell in love with that activity and I'm also willing to spend that money to do something good for myself physically, socially, and mentally.
I think it's the dumb stuff like going to starbucks or dunkin or realllly splurging on the weekends on clothes or something that hinders me.
But there's something scary about setting a 'anything goes' budget cap on those fun purchases. The psychology is that it feels very limiting when in reality I know that it would be empowering.
TLDR - Brains are weird.
| 20 |
ActuaryPersonal2378
| 1,685,455,430 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/13vr8ep/seeking_advice_on_controlling_the_urge_to/
|
13odb30
|
jl3viar
|
$5k/yr child care?!?! Sending your kid one day a week or something?
| 25 |
theorangemonk
| 1,684,722,126 |
Monthly Budget for Family of Four in USA VHCOL Area
|
Sharing my monthly data-driven budget both for criticism, ideas or just to provide an example.
**Expenses**
Breaking it out by category:
**Housing $4410:**
Mortgage: $2385
Property Tax: $600
Home Insurance: $150
Utilities: $350
House Cleaning: $425
Home Maintenance: $500 (estimated based on 1.5% of home value not including land value)
**Vehicle $2135:**
Car payment: $1350
Car Insurance: $125
Gas: $150
Service/Parts: $250
Parking: $250
Registration: $10
**Entertainment $550:**
Internet: $60
Phone: $35
Subscriptions: $55
General Entertainment: $100
Vacation: $300
**Food, Drink and House-supplies $1500:**
Groceries (includes general household items): $900
Restaurant: $200
Fast Food: $150
Coffee: $100
Alcohol: $150
**Kids $750:**
Child-care: $425 (based on \~5k a year)
Activities: $200 (based on $2400 a year
General Supplies: $125
**Shopping $1000:**
Clothes $300 (based on annual expenditure)
Electronics (replace computers/phones/screens every 5 years): $100
Shopping (general/Amazon): $600
**Other $600:**
General medical expenses (based on annual expense): $250
Charity: $200/mo
Pet: $100/mo
Haircuts: $50/mo
​
**TOTAL MONTHLY EXPENSES:** $10,945
​
**Savings**
401k: $4583
Roth IRA: $1083
HSA: $625
529: $500
Brokerage: $1500
Child Dependant Care FSA: $417
**TOTAL MONTHLY SAVINGS:** $8,708
| 16 |
Grevious47
| 1,684,721,124 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/13odb30/monthly_budget_for_family_of_four_in_usa_vhcol/
|
13odb30
|
jl3yfu4
|
To me the excesses here are (1) the car and (2) the shopping. Is that two car payments? If so, it could be reasonablish. Otherwise, congrats!
| 15 |
MdeMontaigne
| 1,684,723,555 |
Monthly Budget for Family of Four in USA VHCOL Area
|
Sharing my monthly data-driven budget both for criticism, ideas or just to provide an example.
**Expenses**
Breaking it out by category:
**Housing $4410:**
Mortgage: $2385
Property Tax: $600
Home Insurance: $150
Utilities: $350
House Cleaning: $425
Home Maintenance: $500 (estimated based on 1.5% of home value not including land value)
**Vehicle $2135:**
Car payment: $1350
Car Insurance: $125
Gas: $150
Service/Parts: $250
Parking: $250
Registration: $10
**Entertainment $550:**
Internet: $60
Phone: $35
Subscriptions: $55
General Entertainment: $100
Vacation: $300
**Food, Drink and House-supplies $1500:**
Groceries (includes general household items): $900
Restaurant: $200
Fast Food: $150
Coffee: $100
Alcohol: $150
**Kids $750:**
Child-care: $425 (based on \~5k a year)
Activities: $200 (based on $2400 a year
General Supplies: $125
**Shopping $1000:**
Clothes $300 (based on annual expenditure)
Electronics (replace computers/phones/screens every 5 years): $100
Shopping (general/Amazon): $600
**Other $600:**
General medical expenses (based on annual expense): $250
Charity: $200/mo
Pet: $100/mo
Haircuts: $50/mo
​
**TOTAL MONTHLY EXPENSES:** $10,945
​
**Savings**
401k: $4583
Roth IRA: $1083
HSA: $625
529: $500
Brokerage: $1500
Child Dependant Care FSA: $417
**TOTAL MONTHLY SAVINGS:** $8,708
| 16 |
Grevious47
| 1,684,721,124 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/13odb30/monthly_budget_for_family_of_four_in_usa_vhcol/
|
13odb30
|
jl5emma
|
How do you put so much into your 401k with the $22,500 limit? Are you doing the 50 or older contribution too? Or is that you and your wife combined?
| 6 |
rtraveler1
| 1,684,759,716 |
Monthly Budget for Family of Four in USA VHCOL Area
|
Sharing my monthly data-driven budget both for criticism, ideas or just to provide an example.
**Expenses**
Breaking it out by category:
**Housing $4410:**
Mortgage: $2385
Property Tax: $600
Home Insurance: $150
Utilities: $350
House Cleaning: $425
Home Maintenance: $500 (estimated based on 1.5% of home value not including land value)
**Vehicle $2135:**
Car payment: $1350
Car Insurance: $125
Gas: $150
Service/Parts: $250
Parking: $250
Registration: $10
**Entertainment $550:**
Internet: $60
Phone: $35
Subscriptions: $55
General Entertainment: $100
Vacation: $300
**Food, Drink and House-supplies $1500:**
Groceries (includes general household items): $900
Restaurant: $200
Fast Food: $150
Coffee: $100
Alcohol: $150
**Kids $750:**
Child-care: $425 (based on \~5k a year)
Activities: $200 (based on $2400 a year
General Supplies: $125
**Shopping $1000:**
Clothes $300 (based on annual expenditure)
Electronics (replace computers/phones/screens every 5 years): $100
Shopping (general/Amazon): $600
**Other $600:**
General medical expenses (based on annual expense): $250
Charity: $200/mo
Pet: $100/mo
Haircuts: $50/mo
​
**TOTAL MONTHLY EXPENSES:** $10,945
​
**Savings**
401k: $4583
Roth IRA: $1083
HSA: $625
529: $500
Brokerage: $1500
Child Dependant Care FSA: $417
**TOTAL MONTHLY SAVINGS:** $8,708
| 16 |
Grevious47
| 1,684,721,124 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/13odb30/monthly_budget_for_family_of_four_in_usa_vhcol/
|
1070c9g
|
j3jrewn
|
Automatic payments to debt that hit your bank account on pay day, so you never even have access to that “extra” $1000
| 169 |
SolutionLeading
| 1,673,227,378 |
How do you motivate yourself to save and pay off debt?
|
Hi all,
So, I'm in quite a bit of credit card debt and have no savings. I make a good salary ($3k per month after taxes) and I have about $1000 after expenses, so it's not as though I'm unable to pay off debt or save. But I just can't motivate myself to. I have a budget all figured out, but in the moment, I just really want that Taco Bell, I really want that pretty journal I don't need, I really want X, Y and Z. I can sit down and think, you know, "I want to save to visit my family in France, I want to save for a car, I want to pay off my debt so I don't have to make these damn payments while I'm (hopefully) pursuing my PhD next year," etc. etc., but it all goes out the window in the moment, when that shiny thing is sitting there.
For those of you who experience the urge to buy but don't act on it--what do you do? How do you manage that? Do you distract yourself, or remind yourself of your goals? Or maybe it's a holistic thing, where I just need to fill my life with more time with friends and activities and such so I'm not sitting on my computer looking at Amazon? Haha. Let me know your tactics!
By the way--I have ADHD. Not sure if that might be a contributing factor!
| 111 |
Curious_Libellule
| 1,673,226,723 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1070c9g/how_do_you_motivate_yourself_to_save_and_pay_off/
|
1070c9g
|
j3k0j20
|
Small goals then larger ones.
When I have $5k in savings, I'll treat myself to sushi. When I get $10k, I'll take a weekend trip. When I get to $20k...
| 59 |
jolla92126
| 1,673,231,214 |
How do you motivate yourself to save and pay off debt?
|
Hi all,
So, I'm in quite a bit of credit card debt and have no savings. I make a good salary ($3k per month after taxes) and I have about $1000 after expenses, so it's not as though I'm unable to pay off debt or save. But I just can't motivate myself to. I have a budget all figured out, but in the moment, I just really want that Taco Bell, I really want that pretty journal I don't need, I really want X, Y and Z. I can sit down and think, you know, "I want to save to visit my family in France, I want to save for a car, I want to pay off my debt so I don't have to make these damn payments while I'm (hopefully) pursuing my PhD next year," etc. etc., but it all goes out the window in the moment, when that shiny thing is sitting there.
For those of you who experience the urge to buy but don't act on it--what do you do? How do you manage that? Do you distract yourself, or remind yourself of your goals? Or maybe it's a holistic thing, where I just need to fill my life with more time with friends and activities and such so I'm not sitting on my computer looking at Amazon? Haha. Let me know your tactics!
By the way--I have ADHD. Not sure if that might be a contributing factor!
| 111 |
Curious_Libellule
| 1,673,226,723 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1070c9g/how_do_you_motivate_yourself_to_save_and_pay_off/
|
1070c9g
|
j3ki6bf
|
Have you ever read the table on your credit card statement that tells you how long it will take to pay off your credit card if you pay the minimums and how much interest it will cost you? That's pretty motivating to get that stuff paid off!
Remind yourself that you're paying more for anything you put on a cc and don't pay off in full with the next statement.
And finally, look at every purchase you make as the time you spent to earn that money. For instance, if you make $17/hr and go buy something for $300, you just spent over 17.5 hours working for that particular thing. You need to make decisions based on whether or not something is worth your time.
| 48 |
GreeneyedScorpio67
| 1,673,238,897 |
How do you motivate yourself to save and pay off debt?
|
Hi all,
So, I'm in quite a bit of credit card debt and have no savings. I make a good salary ($3k per month after taxes) and I have about $1000 after expenses, so it's not as though I'm unable to pay off debt or save. But I just can't motivate myself to. I have a budget all figured out, but in the moment, I just really want that Taco Bell, I really want that pretty journal I don't need, I really want X, Y and Z. I can sit down and think, you know, "I want to save to visit my family in France, I want to save for a car, I want to pay off my debt so I don't have to make these damn payments while I'm (hopefully) pursuing my PhD next year," etc. etc., but it all goes out the window in the moment, when that shiny thing is sitting there.
For those of you who experience the urge to buy but don't act on it--what do you do? How do you manage that? Do you distract yourself, or remind yourself of your goals? Or maybe it's a holistic thing, where I just need to fill my life with more time with friends and activities and such so I'm not sitting on my computer looking at Amazon? Haha. Let me know your tactics!
By the way--I have ADHD. Not sure if that might be a contributing factor!
| 111 |
Curious_Libellule
| 1,673,226,723 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1070c9g/how_do_you_motivate_yourself_to_save_and_pay_off/
|
1070c9g
|
j3k0gci
|
Practice. Keep learning to say no to yourself. You may not succeed at first, but keep working and learning what methods work for telling yourself no versus what don’t. Nowadays, I don’t even want to buy things. I enjoy living a frugal and minimalistic life. It took time to develop this mindset.
| 22 |
Wheel_Only
| 1,673,231,182 |
How do you motivate yourself to save and pay off debt?
|
Hi all,
So, I'm in quite a bit of credit card debt and have no savings. I make a good salary ($3k per month after taxes) and I have about $1000 after expenses, so it's not as though I'm unable to pay off debt or save. But I just can't motivate myself to. I have a budget all figured out, but in the moment, I just really want that Taco Bell, I really want that pretty journal I don't need, I really want X, Y and Z. I can sit down and think, you know, "I want to save to visit my family in France, I want to save for a car, I want to pay off my debt so I don't have to make these damn payments while I'm (hopefully) pursuing my PhD next year," etc. etc., but it all goes out the window in the moment, when that shiny thing is sitting there.
For those of you who experience the urge to buy but don't act on it--what do you do? How do you manage that? Do you distract yourself, or remind yourself of your goals? Or maybe it's a holistic thing, where I just need to fill my life with more time with friends and activities and such so I'm not sitting on my computer looking at Amazon? Haha. Let me know your tactics!
By the way--I have ADHD. Not sure if that might be a contributing factor!
| 111 |
Curious_Libellule
| 1,673,226,723 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1070c9g/how_do_you_motivate_yourself_to_save_and_pay_off/
|
1070c9g
|
j3k5mid
|
Debt makes me very uncomfortable. I have the mortgage and a car loan (my last car loan). I’ve been paying the car down aggressively so it will be gone likely this time next year. And I’ve refinanced the mortgage multiple times, dropping the total years each time. I’ve never held a credit card balance. I pay it off at the end of every month. I paid off my student loans during the loan freeze way back in 2020 because I smelled opportunity. It’s not a motivation issue for me. It’s almost like I’m debt phobic.
I don’t want to pay for shit I already I have. I want to save for shit I don’t have yet.
| 19 |
DinkandDrunk
| 1,673,233,405 |
How do you motivate yourself to save and pay off debt?
|
Hi all,
So, I'm in quite a bit of credit card debt and have no savings. I make a good salary ($3k per month after taxes) and I have about $1000 after expenses, so it's not as though I'm unable to pay off debt or save. But I just can't motivate myself to. I have a budget all figured out, but in the moment, I just really want that Taco Bell, I really want that pretty journal I don't need, I really want X, Y and Z. I can sit down and think, you know, "I want to save to visit my family in France, I want to save for a car, I want to pay off my debt so I don't have to make these damn payments while I'm (hopefully) pursuing my PhD next year," etc. etc., but it all goes out the window in the moment, when that shiny thing is sitting there.
For those of you who experience the urge to buy but don't act on it--what do you do? How do you manage that? Do you distract yourself, or remind yourself of your goals? Or maybe it's a holistic thing, where I just need to fill my life with more time with friends and activities and such so I'm not sitting on my computer looking at Amazon? Haha. Let me know your tactics!
By the way--I have ADHD. Not sure if that might be a contributing factor!
| 111 |
Curious_Libellule
| 1,673,226,723 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1070c9g/how_do_you_motivate_yourself_to_save_and_pay_off/
|
1070c9g
|
j3l09gv
|
TBH reading more extreme/frugal subreddits, like the Dave Ramsey and FIRE ones, helped me. It was jaw-dropping and motivating to see how intensely other people are able to save… or how much worse of a financial hole they’re in, or how much better off they are than me. Gives me motivational to be better at saving.
| 15 |
stunningprocess
| 1,673,250,052 |
How do you motivate yourself to save and pay off debt?
|
Hi all,
So, I'm in quite a bit of credit card debt and have no savings. I make a good salary ($3k per month after taxes) and I have about $1000 after expenses, so it's not as though I'm unable to pay off debt or save. But I just can't motivate myself to. I have a budget all figured out, but in the moment, I just really want that Taco Bell, I really want that pretty journal I don't need, I really want X, Y and Z. I can sit down and think, you know, "I want to save to visit my family in France, I want to save for a car, I want to pay off my debt so I don't have to make these damn payments while I'm (hopefully) pursuing my PhD next year," etc. etc., but it all goes out the window in the moment, when that shiny thing is sitting there.
For those of you who experience the urge to buy but don't act on it--what do you do? How do you manage that? Do you distract yourself, or remind yourself of your goals? Or maybe it's a holistic thing, where I just need to fill my life with more time with friends and activities and such so I'm not sitting on my computer looking at Amazon? Haha. Let me know your tactics!
By the way--I have ADHD. Not sure if that might be a contributing factor!
| 111 |
Curious_Libellule
| 1,673,226,723 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1070c9g/how_do_you_motivate_yourself_to_save_and_pay_off/
|
1070c9g
|
j3kisma
|
ADHD is 100000% a factor in impulsive buying. Are you being treated/do you see a therapist? This might be where you want to start.
| 5 |
b_kachu
| 1,673,239,187 |
How do you motivate yourself to save and pay off debt?
|
Hi all,
So, I'm in quite a bit of credit card debt and have no savings. I make a good salary ($3k per month after taxes) and I have about $1000 after expenses, so it's not as though I'm unable to pay off debt or save. But I just can't motivate myself to. I have a budget all figured out, but in the moment, I just really want that Taco Bell, I really want that pretty journal I don't need, I really want X, Y and Z. I can sit down and think, you know, "I want to save to visit my family in France, I want to save for a car, I want to pay off my debt so I don't have to make these damn payments while I'm (hopefully) pursuing my PhD next year," etc. etc., but it all goes out the window in the moment, when that shiny thing is sitting there.
For those of you who experience the urge to buy but don't act on it--what do you do? How do you manage that? Do you distract yourself, or remind yourself of your goals? Or maybe it's a holistic thing, where I just need to fill my life with more time with friends and activities and such so I'm not sitting on my computer looking at Amazon? Haha. Let me know your tactics!
By the way--I have ADHD. Not sure if that might be a contributing factor!
| 111 |
Curious_Libellule
| 1,673,226,723 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1070c9g/how_do_you_motivate_yourself_to_save_and_pay_off/
|
1070c9g
|
j3koyj8
|
You don't need motivation. You just need to f#&@ing do it. If you are searching, waiting for motivation to strike, you're going to be doing a lot of waiting. You don't need motivation. You just need to make it a habit. You just need to be *consistent* in doing the right thing. Don't focus on motivation. Focus on consistency, and you'll get it done.
| 5 |
Dubs13151
| 1,673,242,488 |
How do you motivate yourself to save and pay off debt?
|
Hi all,
So, I'm in quite a bit of credit card debt and have no savings. I make a good salary ($3k per month after taxes) and I have about $1000 after expenses, so it's not as though I'm unable to pay off debt or save. But I just can't motivate myself to. I have a budget all figured out, but in the moment, I just really want that Taco Bell, I really want that pretty journal I don't need, I really want X, Y and Z. I can sit down and think, you know, "I want to save to visit my family in France, I want to save for a car, I want to pay off my debt so I don't have to make these damn payments while I'm (hopefully) pursuing my PhD next year," etc. etc., but it all goes out the window in the moment, when that shiny thing is sitting there.
For those of you who experience the urge to buy but don't act on it--what do you do? How do you manage that? Do you distract yourself, or remind yourself of your goals? Or maybe it's a holistic thing, where I just need to fill my life with more time with friends and activities and such so I'm not sitting on my computer looking at Amazon? Haha. Let me know your tactics!
By the way--I have ADHD. Not sure if that might be a contributing factor!
| 111 |
Curious_Libellule
| 1,673,226,723 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/1070c9g/how_do_you_motivate_yourself_to_save_and_pay_off/
|
tvh0af
|
i3a0cgp
|
70s, have 3 million, and no other debt. Hell yeah you can afford a 200-400k boat imo. Well, I guess it also depends your yearly expenses.
| 111 |
Gadzs
| 1,649,024,086 |
Can we afford to buy a boat?
|
Wife and I ages 70s moved to Florida and would like to buy a boat. We have 3 million in stocks and bonds (about 50/50) and own our condo outright. Cash is about 300k. Delimema is whether we sell some investments and buy a 400K boat or just buy something in the 200-250k range. We kinda feel "go big or go home" in our situation as our kids are set and we really would like the larger boat. We could sell some equities and not hurt our income as our Amazon, Apple and a few others don't pay dividends. We hope to enjoy our senior years but not risk putting ourselves in jeopardy. My feeling is, it is an investment, maybe not the best but we can always sell it and recoup some of money. We are recently retired and looking for some adventure in our remainder of this time on earth :), just trying to convince the other half.
Comments well appreciated..
| 83 |
Ourkatie
| 1,649,012,956 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/tvh0af/can_we_afford_to_buy_a_boat/
|
tvh0af
|
i3a3t9l
|
Boat lover/owner here: buying a boat is NEVER a good financial decision, but you do it because you enjoy it.
The old adage which says “the two happiest days of owning a boat is when you buy it and when you sell it” are absolutely true, but also with lots of joy in between.
As for your specific question, assume you’ll be spending about 20-30% of your purchase cost on maintenance, upgrades, storage/marina/transport fees per season, excluding fuel.
| 56 |
leftplayer
| 1,649,025,621 |
Can we afford to buy a boat?
|
Wife and I ages 70s moved to Florida and would like to buy a boat. We have 3 million in stocks and bonds (about 50/50) and own our condo outright. Cash is about 300k. Delimema is whether we sell some investments and buy a 400K boat or just buy something in the 200-250k range. We kinda feel "go big or go home" in our situation as our kids are set and we really would like the larger boat. We could sell some equities and not hurt our income as our Amazon, Apple and a few others don't pay dividends. We hope to enjoy our senior years but not risk putting ourselves in jeopardy. My feeling is, it is an investment, maybe not the best but we can always sell it and recoup some of money. We are recently retired and looking for some adventure in our remainder of this time on earth :), just trying to convince the other half.
Comments well appreciated..
| 83 |
Ourkatie
| 1,649,012,956 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/tvh0af/can_we_afford_to_buy_a_boat/
|
tvh0af
|
i39l1ux
|
We joined a boat club in FL because we owned in the past and know the annual costs..and being new to FL we weren’t exactly sure what boat and type of boating we would do.. and finally we like having 3 or 4 different types of boats a phone call or app click away..
Admittedly these are not larger yacht class boats….
| 26 |
timeonmyhandz
| 1,649,017,490 |
Can we afford to buy a boat?
|
Wife and I ages 70s moved to Florida and would like to buy a boat. We have 3 million in stocks and bonds (about 50/50) and own our condo outright. Cash is about 300k. Delimema is whether we sell some investments and buy a 400K boat or just buy something in the 200-250k range. We kinda feel "go big or go home" in our situation as our kids are set and we really would like the larger boat. We could sell some equities and not hurt our income as our Amazon, Apple and a few others don't pay dividends. We hope to enjoy our senior years but not risk putting ourselves in jeopardy. My feeling is, it is an investment, maybe not the best but we can always sell it and recoup some of money. We are recently retired and looking for some adventure in our remainder of this time on earth :), just trying to convince the other half.
Comments well appreciated..
| 83 |
Ourkatie
| 1,649,012,956 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/tvh0af/can_we_afford_to_buy_a_boat/
|
tvh0af
|
i39l8ix
|
One helpful data point would be how much you spend every year.
In general, I think you can make this purchase, but you are losing about $400k in cushion in case shit hits the fan. For that reason, I think you should also use this as an opportunity to de-risk.
Your mention of individual stocks makes me a little worried. How diversified are your investments? I’d much rather see highly diversified index funds than individual stocks, since diversity decreases risk.
Let’s say you budget $400k to purchase a boat, $100k for all boat related costs for the rest of your lives and $500k for self-insurance against long term care at the end of your life. That leaves $2mil to live on. Say you withdraw 6% annually, so $120k/ year (which will grow with inflation). Is that enough? If so, I’d say you’re good to go.
| 11 |
assingfortrouble
| 1,649,017,569 |
Can we afford to buy a boat?
|
Wife and I ages 70s moved to Florida and would like to buy a boat. We have 3 million in stocks and bonds (about 50/50) and own our condo outright. Cash is about 300k. Delimema is whether we sell some investments and buy a 400K boat or just buy something in the 200-250k range. We kinda feel "go big or go home" in our situation as our kids are set and we really would like the larger boat. We could sell some equities and not hurt our income as our Amazon, Apple and a few others don't pay dividends. We hope to enjoy our senior years but not risk putting ourselves in jeopardy. My feeling is, it is an investment, maybe not the best but we can always sell it and recoup some of money. We are recently retired and looking for some adventure in our remainder of this time on earth :), just trying to convince the other half.
Comments well appreciated..
| 83 |
Ourkatie
| 1,649,012,956 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/tvh0af/can_we_afford_to_buy_a_boat/
|
tvh0af
|
i3ajzqm
|
400k boat or 80 5k vacations around the world, or 40 1\`0k vacations.
I would find friends with a boat and travel. Just me.
| 8 |
notevenapro
| 1,649,033,067 |
Can we afford to buy a boat?
|
Wife and I ages 70s moved to Florida and would like to buy a boat. We have 3 million in stocks and bonds (about 50/50) and own our condo outright. Cash is about 300k. Delimema is whether we sell some investments and buy a 400K boat or just buy something in the 200-250k range. We kinda feel "go big or go home" in our situation as our kids are set and we really would like the larger boat. We could sell some equities and not hurt our income as our Amazon, Apple and a few others don't pay dividends. We hope to enjoy our senior years but not risk putting ourselves in jeopardy. My feeling is, it is an investment, maybe not the best but we can always sell it and recoup some of money. We are recently retired and looking for some adventure in our remainder of this time on earth :), just trying to convince the other half.
Comments well appreciated..
| 83 |
Ourkatie
| 1,649,012,956 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/tvh0af/can_we_afford_to_buy_a_boat/
|
tvh0af
|
i39awej
|
So the question isn't about a boat, it's about a small yacht? Because I have plenty of friends that own boats and none are up in the 6 figure range.
| 36 |
bassjam1
| 1,649,013,318 |
Can we afford to buy a boat?
|
Wife and I ages 70s moved to Florida and would like to buy a boat. We have 3 million in stocks and bonds (about 50/50) and own our condo outright. Cash is about 300k. Delimema is whether we sell some investments and buy a 400K boat or just buy something in the 200-250k range. We kinda feel "go big or go home" in our situation as our kids are set and we really would like the larger boat. We could sell some equities and not hurt our income as our Amazon, Apple and a few others don't pay dividends. We hope to enjoy our senior years but not risk putting ourselves in jeopardy. My feeling is, it is an investment, maybe not the best but we can always sell it and recoup some of money. We are recently retired and looking for some adventure in our remainder of this time on earth :), just trying to convince the other half.
Comments well appreciated..
| 83 |
Ourkatie
| 1,649,012,956 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/tvh0af/can_we_afford_to_buy_a_boat/
|
tvh0af
|
i39gbvj
|
My friend was so happy when he sold his boat.
| 5 |
DP23-25
| 1,649,015,524 |
Can we afford to buy a boat?
|
Wife and I ages 70s moved to Florida and would like to buy a boat. We have 3 million in stocks and bonds (about 50/50) and own our condo outright. Cash is about 300k. Delimema is whether we sell some investments and buy a 400K boat or just buy something in the 200-250k range. We kinda feel "go big or go home" in our situation as our kids are set and we really would like the larger boat. We could sell some equities and not hurt our income as our Amazon, Apple and a few others don't pay dividends. We hope to enjoy our senior years but not risk putting ourselves in jeopardy. My feeling is, it is an investment, maybe not the best but we can always sell it and recoup some of money. We are recently retired and looking for some adventure in our remainder of this time on earth :), just trying to convince the other half.
Comments well appreciated..
| 83 |
Ourkatie
| 1,649,012,956 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/tvh0af/can_we_afford_to_buy_a_boat/
|
ri1p3r
|
hovnecl
|
Interpreter here. Contact Deaf Future Works. She's Deaf and specializes in helping people get on benefits. She's rad. Last I heard it was a $500 fee but she takes care of all the run around for you. And as far as I know she still does half hour free consultations to see if it's a good fit for you. Navigating social security is exhausting and demoralizing a lot of the time. She's helped a few people I know. I know tons of Deaf people who get on benefits when they can't find work, so theres gotta be a way. Amazon is brutal work but they are good about providing interpreters. Good luck!
| 9 |
ASLHCI
| 1,639,716,654 |
My father is Deaf and is in his late '50s, with less than HS education. He's an Amazon Delivery driver and he is not healthy enough for the demanding role but can't find another job because of disability. He is too healthy to receive disability benefits. What can I do?
|
Note: It feels like this might not be the right sub to post. Please point me to the best place to post if that's the case!
I ( 30 NB) am a CODA (child of deaf adults). Both of my parents are deaf, and I'm pretty sure my dad is on the spectrum (I didn't consider this until I was older. I thought my dad's limited knowledge was due to his disability but I'm noticing it's much more than that). Long story short - they're getting older and life is getting harder.
Last year, my dad left his job of 30+ years because he was being bullied by his co-workers and his employers didn't care to accommodate him (for example, there was a 401k meeting and they didn't hire an interpreter, and when my dad asked for the information they told him to not worry about it). For the last 2-3 years, he was complaining about being bullied by co-workers but to be honest, it's been hard to figure out how to navigate that especially when there is no proof. His mental health deteriorated and he became extremely paranoid about his employer stealing his money. He eventually quit and then joined Amazon with the help of his cousin.
My dad was fine at first but of course, the amount of packages a delivery person is assigned to deliver is insane for anyone, but especially a very unhealthy almost 60-year-old man. He has high blood pressure, diabetes, and doesn't manage it at all. It doesn't help being assigned to the Bronx, an area filled with 6-story apartment buildings without elevators. It's absolutely killing him but in order to be approved for disability, it seems like you need to be dying.
He wants to get a CDL license to drive school buses and so when I learned he needed to study and pass a permit test, it hit me that I don't even know if my dad *can actually* study the content and understand it enough to take the test and pass.
Can someone let me know - What are some insights/resources/etc. that can help me find my dad another job or get on disability benefits? What should I consider? What am I not considering? Anything and everything is helpful!!!
| 11 |
nmb28
| 1,639,692,897 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/ri1p3r/my_father_is_deaf_and_is_in_his_late_50s_with/
|
ri1p3r
|
hovfvsi
|
State or city employment offices can provide occupational (re-)training for disabled workers.
Does he have health insurance? Maybe an ASL-trained therapist can help.
IDK if he can sue his previous employer for workplace discrimination … maybe he could talk to a lawyer. There are lawyers that use ASL.
| 5 |
Dilettantest
| 1,639,713,055 |
My father is Deaf and is in his late '50s, with less than HS education. He's an Amazon Delivery driver and he is not healthy enough for the demanding role but can't find another job because of disability. He is too healthy to receive disability benefits. What can I do?
|
Note: It feels like this might not be the right sub to post. Please point me to the best place to post if that's the case!
I ( 30 NB) am a CODA (child of deaf adults). Both of my parents are deaf, and I'm pretty sure my dad is on the spectrum (I didn't consider this until I was older. I thought my dad's limited knowledge was due to his disability but I'm noticing it's much more than that). Long story short - they're getting older and life is getting harder.
Last year, my dad left his job of 30+ years because he was being bullied by his co-workers and his employers didn't care to accommodate him (for example, there was a 401k meeting and they didn't hire an interpreter, and when my dad asked for the information they told him to not worry about it). For the last 2-3 years, he was complaining about being bullied by co-workers but to be honest, it's been hard to figure out how to navigate that especially when there is no proof. His mental health deteriorated and he became extremely paranoid about his employer stealing his money. He eventually quit and then joined Amazon with the help of his cousin.
My dad was fine at first but of course, the amount of packages a delivery person is assigned to deliver is insane for anyone, but especially a very unhealthy almost 60-year-old man. He has high blood pressure, diabetes, and doesn't manage it at all. It doesn't help being assigned to the Bronx, an area filled with 6-story apartment buildings without elevators. It's absolutely killing him but in order to be approved for disability, it seems like you need to be dying.
He wants to get a CDL license to drive school buses and so when I learned he needed to study and pass a permit test, it hit me that I don't even know if my dad *can actually* study the content and understand it enough to take the test and pass.
Can someone let me know - What are some insights/resources/etc. that can help me find my dad another job or get on disability benefits? What should I consider? What am I not considering? Anything and everything is helpful!!!
| 11 |
nmb28
| 1,639,692,897 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/ri1p3r/my_father_is_deaf_and_is_in_his_late_50s_with/
|
qj387g
|
hio07jr
|
What if you could own 500 blue chip stocks? You could even weight them by the market capitalization. That would be an amazing strategy.
| 128 |
Nodeal_reddit
| 1,635,615,332 |
What are the downsides of just owning blue chip stocks like Facebook, Amazon, Microsoft for a time frame of 2-5 years ?
|
Let's talk about a time frame of 2-5 years. It's not so large, but also not so short.
These are giants. The probability of them going down is practically zero.
The only downside I can think of is that they're all tech sector, and I won't be diversified. But even if the tech sector drops, it should be back up in a relatively short amount of time. There is lots of intrinsic value here.
What are your thoughts on this ?
| 50 |
randomuser8654
| 1,635,606,035 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/qj387g/what_are_the_downsides_of_just_owning_blue_chip/
|
qj387g
|
hinhzw6
|
Could have said the same things about AOL or Yahoo at one time...
| 101 |
BoomTown1873
| 1,635,607,719 |
What are the downsides of just owning blue chip stocks like Facebook, Amazon, Microsoft for a time frame of 2-5 years ?
|
Let's talk about a time frame of 2-5 years. It's not so large, but also not so short.
These are giants. The probability of them going down is practically zero.
The only downside I can think of is that they're all tech sector, and I won't be diversified. But even if the tech sector drops, it should be back up in a relatively short amount of time. There is lots of intrinsic value here.
What are your thoughts on this ?
| 50 |
randomuser8654
| 1,635,606,035 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/qj387g/what_are_the_downsides_of_just_owning_blue_chip/
|
qj387g
|
hio3rdn
|
At minimum I would buy a index fund focused on tech like VGT or QQQ. That way you have some diversification within the sector.
| 25 |
jrmo234
| 1,635,616,804 |
What are the downsides of just owning blue chip stocks like Facebook, Amazon, Microsoft for a time frame of 2-5 years ?
|
Let's talk about a time frame of 2-5 years. It's not so large, but also not so short.
These are giants. The probability of them going down is practically zero.
The only downside I can think of is that they're all tech sector, and I won't be diversified. But even if the tech sector drops, it should be back up in a relatively short amount of time. There is lots of intrinsic value here.
What are your thoughts on this ?
| 50 |
randomuser8654
| 1,635,606,035 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/qj387g/what_are_the_downsides_of_just_owning_blue_chip/
|
qj387g
|
hio7r5q
|
"The probability of them going down is practically zero."
I don't mean this as an insult, but if you honestly believe this, you should absolutely not be trying to trade individual stocks.
| 41 |
run_bike_run
| 1,635,618,492 |
What are the downsides of just owning blue chip stocks like Facebook, Amazon, Microsoft for a time frame of 2-5 years ?
|
Let's talk about a time frame of 2-5 years. It's not so large, but also not so short.
These are giants. The probability of them going down is practically zero.
The only downside I can think of is that they're all tech sector, and I won't be diversified. But even if the tech sector drops, it should be back up in a relatively short amount of time. There is lots of intrinsic value here.
What are your thoughts on this ?
| 50 |
randomuser8654
| 1,635,606,035 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/qj387g/what_are_the_downsides_of_just_owning_blue_chip/
|
qj387g
|
hio535q
|
You mean the same probability of US Steel, Esmark, Armour, Gulf Oil, Amoco, & Bethlehem Steel going to zero? These were the biggest names in the world in 1955.
| 15 |
NeutralLock
| 1,635,617,368 |
What are the downsides of just owning blue chip stocks like Facebook, Amazon, Microsoft for a time frame of 2-5 years ?
|
Let's talk about a time frame of 2-5 years. It's not so large, but also not so short.
These are giants. The probability of them going down is practically zero.
The only downside I can think of is that they're all tech sector, and I won't be diversified. But even if the tech sector drops, it should be back up in a relatively short amount of time. There is lots of intrinsic value here.
What are your thoughts on this ?
| 50 |
randomuser8654
| 1,635,606,035 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/qj387g/what_are_the_downsides_of_just_owning_blue_chip/
|
qj387g
|
hingqkn
|
It’s literally just diversification. If you just own a few tech stocks and nothing else then you only gain when they gain and lose when they lose. Sure they might pick back up after a few years of losses but during that time, if you were diversified, you’d have something else that could gain.
Say you own $1000 shares of a tech stock vs $1000 shares of a total market or large-cap ETF. If tech as a whole takes a dump one year, it won’t be as big as a percentage hit on the diversified ETF. In fact, it’s possible that the either sectors in the ETF prop it up and it grows while the tech stock shrinks.
| 25 |
JOPAPatch
| 1,635,607,163 |
What are the downsides of just owning blue chip stocks like Facebook, Amazon, Microsoft for a time frame of 2-5 years ?
|
Let's talk about a time frame of 2-5 years. It's not so large, but also not so short.
These are giants. The probability of them going down is practically zero.
The only downside I can think of is that they're all tech sector, and I won't be diversified. But even if the tech sector drops, it should be back up in a relatively short amount of time. There is lots of intrinsic value here.
What are your thoughts on this ?
| 50 |
randomuser8654
| 1,635,606,035 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/qj387g/what_are_the_downsides_of_just_owning_blue_chip/
|
qj387g
|
hinib4s
|
The risk is that your stocks will underperform at times that other industries are performing well. So if, for example, in the future, there’s a big boom in something like green energy, or repurposing real estate, or agriculture, or anything outside of what those companies do, you’ll only gain from the boom to the proportion that those companies are invested in the industry.
Also, you’re investing in tech so much as those specific tech companies. If a new Silicon Valley company comes along, you’ll only be invested as much as the individual companies you own stock in have invested. I always think of the example of how Ford never became a publicly traded company until 1956. Sure, lots of people bought a ton of other automobile stocks for decades, probably under the belief that “the automobile is going to be here for decades”. And those people weren’t wrong about the automobile still being here - but how much did the individual companies those guys were buying stick around? I’m sure a few did, but the biggest publicly traded companies one decade aren’t necessarily the biggest publicly traded companies the next decade. Not as much overlap as you might think between this biggest companies in the world in 2011 and 2021:
https://money.cnn.com/magazines/fortune/global500/2011/full_list/index.html
So if you focus on buying only the companies that are the biggest in the world right now, it’s possible to miss out.
| 8 |
ordinary_kittens
| 1,635,607,856 |
What are the downsides of just owning blue chip stocks like Facebook, Amazon, Microsoft for a time frame of 2-5 years ?
|
Let's talk about a time frame of 2-5 years. It's not so large, but also not so short.
These are giants. The probability of them going down is practically zero.
The only downside I can think of is that they're all tech sector, and I won't be diversified. But even if the tech sector drops, it should be back up in a relatively short amount of time. There is lots of intrinsic value here.
What are your thoughts on this ?
| 50 |
randomuser8654
| 1,635,606,035 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/qj387g/what_are_the_downsides_of_just_owning_blue_chip/
|
qj387g
|
hinzx2n
|
Have you ever heard of the dotcom bubble. I’m not saying this is the same but things can crash really hard and if that’s all you own you are shit out of luck.
| 8 |
Key_Friendship_6767
| 1,635,615,214 |
What are the downsides of just owning blue chip stocks like Facebook, Amazon, Microsoft for a time frame of 2-5 years ?
|
Let's talk about a time frame of 2-5 years. It's not so large, but also not so short.
These are giants. The probability of them going down is practically zero.
The only downside I can think of is that they're all tech sector, and I won't be diversified. But even if the tech sector drops, it should be back up in a relatively short amount of time. There is lots of intrinsic value here.
What are your thoughts on this ?
| 50 |
randomuser8654
| 1,635,606,035 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/qj387g/what_are_the_downsides_of_just_owning_blue_chip/
|
qj387g
|
hiou464
|
You’re probably a bit overconfident from this long run of a bull market. The whole point of diversification is that you can’t predict when things are going to go south.
It’s absolutely not true that the probability of them going down is near zero. Facebook is mired in political fallout. Amazon is being targeted more and more by regulators. Competition might start dominating more of either of those markets.
There is a very real chance that these companies might lose value. And if it is a proper correction, and you had all of your money in a few stocks, the hit you will take will be much much larger than if you were diversified.
But if you’re talking about play money, then by all means go for it
| 7 |
fvelloso
| 1,635,628,231 |
What are the downsides of just owning blue chip stocks like Facebook, Amazon, Microsoft for a time frame of 2-5 years ?
|
Let's talk about a time frame of 2-5 years. It's not so large, but also not so short.
These are giants. The probability of them going down is practically zero.
The only downside I can think of is that they're all tech sector, and I won't be diversified. But even if the tech sector drops, it should be back up in a relatively short amount of time. There is lots of intrinsic value here.
What are your thoughts on this ?
| 50 |
randomuser8654
| 1,635,606,035 |
amazon
|
FinancialPlanning
|
https://www.reddit.com/r/FinancialPlanning/comments/qj387g/what_are_the_downsides_of_just_owning_blue_chip/
|
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