Investing General Discussion

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Burnem Wizfyre

Burnem Wizfyre

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Gravel said:
It's strange, because I don't feel like we've felt it that bad at all. Yeah, our groceries are more expensive, but an extra $100 a month isn't really moving the needle. Our biggest expense has always been our house, and that's hedged with a mortgage. But we're on a fixed income (sort of) and so you'd imagine we'd be more sensitive to it, but it's really just not impactful for us.

Although, as I'm typing this, I do need to caveat it with it all coinciding with a move from California to Florida in 2021. I worked an additional 5 months I think after the move, but for the most part our retirement and the move line up. Which means we're basically back to California cost of living from 3 years ago. I know I've pointed out to my wife how pissed I am that we never got the cheap gas prices. While everyone else was paying $1.00 - 1.50, we were at like $3.60 or something retarded. Just as soon as we moved the prices jumped up to the mid $2 range here in Florida. Fucking thing sucks!
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The amount I’ve spent on groceries and gas this year for me my wife and child and elderly father is through the roof, the wife and I only eat one meal a day as well. It’s fucking crazy, my wife actually told me “if we divorce I can file for food stamps and get $1300 a month like my sister” sad thing is I actually fucking considered it for a minute.
 
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Sanrith Descartes

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Burnem Wizfyre said:
The amount I’ve spent on groceries and gas this year for me my wife and child and elderly father is through the roof, the wife and I only eat one meal a day as well. It’s fucking crazy, my wife actually told me “if we divorce I can file for food stamps and get $1300 a month like my sister” sad thing is I actually fucking considered it for a minute.
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We are the house where the teens hang out so we end up cooking for lots of hungry kids on the regular. I do Walmart for the staples and then another grocery (Winn Dixie) with its own butcher Dept for meat and buy one/get one sales. Its all about what is on sale that week and using the vac sealer to buy in bulk when its on sale (chicken/beef) and using what's in the freezer on weeks no proteins are on sale. Even doing all this, I would venture we are paying about 20% more than we were each week for groceries. We aren't buying less, we are just lucky enough to be able to pay more for what we buy each week.
 
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Creslin

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Sanrith Descartes said:
One thing I would bet shows up in the differences for most people who feel it vs those who don't is credit card debt. People with balances on their credit cards are being crushed. It is literally mind-numbing to think how many people are paying 25% or more on their credit card debt each month. I would kill to be getting a 25% return on investment. House payments tend to be fixed by mortgage, car payment rates are higher, but still sub 10% for most people I would think, vacations and home projects can be downsized/delayed, adjustments can be made to food shopping, but that cc debt is the stake in the heart for tens of millions.
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Ya cc debt and rent. If you are a renter you really aren’t insulated from the home price spike at all.

car payments are bad too but more avoidable through good decision making. Both the rates and the prices paid for cars rose quickly so that hurts.

the grocery cost thing I don’t really see. Most food seems to have fallen in price in the last year more than risen. It’s still up probably 25% from 2019 though ya.
 
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Sanrith Descartes

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When your stock is selling for under $20 a share and your PE is over 90. Say hello INTC.
 
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TomServo

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I mean yeah 12.99 a pound for steak is about 25% up. But wife and I just buy valu pak I sear up and finish in oven. Bam 4 days of dinner abd breakfast steak hash 3 times for 50 bucks.

Not the cheapest but not breaking the bank either
 
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Jysin

Jysin

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I know its average, not median.. however, it is still a shocking figure:

 
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fris

fris

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Burnem Wizfyre said:
I’ve admitted to being a fully functional retard I don’t give a shit what anyone thinks of me I know who I am, but I’ve managed to pull down 150k a year job and my myself irreplaceable. My vehicles are paid off, my vehicles are paid off and both are less than 5 years old, I’m 2 years into a 30 year mortgage that has 18 years left due to paying down the principle every month by throwing $1,500 extra money. I would have done a 15 year for lower interest but I like to err on the side of caution.

That being said my retarded ass who makes 150k a year with $0 debt outside of my house am absolutely fucking feeling it, my checks don’t change but my expenses on food and every day supplies has, my insurance is through the roof, the $1500 I’ve been throwing down on the mortgage each month has gone down to about $600 over the last 6 months you could argue that’s not a recession it’s just inflation but tell that shit to people who make 30-50k a year. I used to go to Colorado or Utah or Montana for skiing or white water rapids but now my ass who lives in Corpus I’m just going to SA to Six Flags or float the comal river.

We might not feel it that bad but I have in-laws that absolutely hate my wife because she’s doing ok and they think we’re rich when I’m anything but rich, shit is a nightmare right now for people, i literally know people who maxed out credit cards to eat, drive without insurance, always a couple months behind on the electric water and car and the bank threatens to repo the vehicle if they don’t get insurance but the vehicle is so massively under water it’s better to hope they pay than sell it for less than what they loaned.

You are much more wealthy than me and a lot more smarter, you might be a bit insulated from it, I work around these people all the time and they aren’t all retarded or had these problems 4 years ago, shits bad out there for people and this pic sums up what’s going on right now for people i work around not with.

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similar story here. no debt outside a mortgage that's ahead of schedule. i've cut back expenses considerably the past few years and i still feel the squeeze. the last year of Trump's presidency was amazing for me. covid allowed me to cut out so much, after school care for my kids, driving to work. was an amazing year and i'm glad i maxed out all the taxed advantaged accounts.

i was with some friends the other day, and they 'live better' than i do. more vacations, newer cars, etc. we were talking politics, all hopeful of Trump's return. and when we discussed inflation, they said they could feel it cause the rates on their credit cards were almost 2x now. it took every bit of my willpower not to spin my head around.
 
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Creslin

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Jysin said:
I know its average, not median.. however, it is still a shocking figure:

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I feel like 79k in most areas should allow you to live an ok comfortable life provided you aren’t in a really high cost of living area or new to the housing market.

gen z with no inherited money and coming into the market as it stands now I could see needing a lot more but still less than 186k.
 
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Gravel

Gravel

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I'd love to know where that $186k figure comes from. Interestingly, that's about what our household income was in our best year (2020) where we both got major promotions.

The $79k one is pretty surprising though. If that's actually true, that's a massive increase from where it was. I want to say it was like $50k five or so years ago, and like $60k last year or the year before.
 
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Blazin

Blazin

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Just sold 530 shares of QQQ, I'm taking a gamble here. This is not a strong conviction "I know it's heading lower" move. It's a being tactical and okay with being wrong trade. I probably could have got a buck or two more a share but I just can't give it my full attention right now to try to juice every little bit out of it.

I'm still in the undecided camp if we are done probing lower with this correction. The downtrend line is right above for QQQ, later this week we should get our first touch of the 20d since 7/17, market breath a lot messier today than it was last week.
 
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Blazin

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1723476304214.png

1723476320296.png

Okay that's a little humorous , it's a nothing but lol.
 
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Lightning Lord Rule

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Haus said:
I'd be curious as to that needed income to "live comfortably" if you take NYC, LA, and SF out of the mix.
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A few years ago, this is likely a larger factor. Now, property prices in a lot of outlying areas have risen a LOT because of the exodus from LA + SF et al. For example, Idaho prices on a lot of property TRIPLED in like 2 years a couple years ago. It's really annoying.

Tho I have heard reports of those horrible people not liking the small town life and moving back to cities, but who knows for sure. Can't trust any big data or gov numbers, so shrug.
 
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Araysar

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Haus said:
I'd be curious as to that needed income to "live comfortably" if you take NYC, LA, and SF out of the mix.
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When I lived in California, the pre-covid poverty level was something like $86K for a family of 4.
 
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Araysar

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Jysin said:
I know its average, not median.. however, it is still a shocking figure:

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This better be a number for the household, not individual.

On $186K a year I could have a Mcmansion, luxury car, the works.
 
Foler

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Gravel said:
I'd love to know where that $186k figure comes from. Interestingly, that's about what our household income was in our best year (2020) where we both got major promotions.

The $79k one is pretty surprising though. If that's actually true, that's a massive increase from where it was. I want to say it was like $50k five or so years ago, and like $60k last year or the year before.
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The 186k figure is kinda useless without knowing where it came from, like you said.. The participants surveyed could be those same women that expect all dudes to make 300k, etc.
 
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Foler

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Lightning Lord Rule said:
A few years ago, this is likely a larger factor. Now, property prices in a lot of outlying areas have risen a LOT because of the exodus from LA + SF et al. For example, Idaho prices on a lot of property TRIPLED in like 2 years a couple years ago. It's really annoying.

Tho I have heard reports of those horrible people not liking the small town life and moving back to cities, but who knows for sure. Can't trust any big data or gov numbers, so shrug.
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Wouldn’t surprise me one bit if they got tired of it. Those are the same folks who romanticize homesteading and have zero idea the amount of work and money it takes to make it happen.
 
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Creslin

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A single income of 79k is also far better than a dual income of that. A single income could support a family of 4 with one parent staying at home in a 1200 sqft ranch of whatever and live the definition of a comfortable life.
 
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Sanrith Descartes

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Creslin said:
A single income of 79k is also far better than a dual income of that. A single income could support a family of 4 with one parent staying at home in a 1200 sqft ranch of whatever and live the definition of a comfortable life.
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"comfortable life" is the real variable. For some folks, not having a $10 coffee from Starbucks every morning and a $30 Ubereats deliver of a Panera soup for lunch is below their idea of comfortable living. On the other hand, a $40 annual pass to every state park in FL combined with a couple of tubes/kayaks/paddleboards is more than comfortable for others.
 
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