The Lounge Jan-June 2015

[ven]

Re: The 2015 Lounge

Wow lumentia,so many similarities..............you speak much sense.

Lighter note,my memory is not the best,i have to do things then and there or chances it wont get done or too late. Now i either make a note,note on phone with alarm set so i can forget it!! and be reminded at time(also gives piece of mind to without having to constantly try and remember stuff).

Kids certainly sort you out..........oh and they dont forget things either ,make excellent reminders of everything! .......................and money pits :laughing:

 

[Skylumen]

Re: The 2015 Lounge

Just try to be sure you put money aside for later in life. 15% of everything you make should be a minimum if there is any way you can manage to do it. If not start with what you can and work up to that. Bump up that % a little each year. Find a GOOD company to handle your money (I love Vanguard - they are one of the best). Compound interest is an amazing thing ;-)

I have no retirement plan at the moment...many are urging me to start thinking about one...wow so much to think about...I feel so old tonight.

 

[lionheart_2281]

Re: The 2015 Lounge

I have no retirement plan at the moment...many are urging me to start thinking about one...wow so much to think about...I feel so old tonight.

So the 'vette is a mid life crisis?

 

[Skylumen]

Re: The 2015 Lounge

That is a good philosophy, and you have passion and a good work ethic, you'll do well. You've got me all philosophical now.
Edit: Pardon the rambling lol

I was cursed with bad memory too. It was my dad's pet peeve- he had an awesome memory- and always thought I just didn't care enough to remember. He might have been right lol (because I have a good memory for certain things, like womens' names lol) I can connect to this...not the women but other stuff LOL

There is no such thing as stable dependable, predictable employment anymore. One needs to learn to recognize something good when it comes along, don't be lazy and run with it for as long as you can while keeping your eyes open enough to see when it's time to jump to the next step. (I didn't do that and got caught in a dead industry several times.) I know exactly what you are saying here! I wanted to start on flashlights long ago but I waited as my consultant job paid well.

I do wish I had not wasted so much money when I was younger, and paid off my house. Damn the Stingray :-(

All of my well laid plans from my 20s have been dashed- bad luck, bad decisions, bad women (lol) and bad economy all hitting at the same time. That being said, it led me to where I am now, much wiser in life, No kidding the ways of the world and with far more skills than I would have had if I had not had to chase employment as each field I was in folded under. I've been both a cowboy and an artist, cad draftsman, aerospace/ weapons/ oilfield machinist, built race cars to rig up trucks, mechanic to gun dealer, stacked square bales and had a tire repair shop, feed store, truck scale, welding shop, trailer sales, etc etc. Damnnnnnnnnnnn

But now I have a 2 year old daughter and she's the most important thing in my life now. Everybody said this...A child is the world huh?

It's a lot easier to just put my head down and bull my way through the tough jobs and tough times knowing she's depending on me. She gotta read this when she is older. Bet she will tear up!

Somehow, I keep coming back to the metal working industry...it's what I love to do. Building stuff is in my blood.

I have had a very rough last couple of weeks from stress. Reading this is quite uplifting. I guess I can go to sleep with a smile now

 

[Skylumen]

Re: The 2015 Lounge

So the 'vette is a mid life crisis?

The Vette is kinda like my flashlight passion. It just has to happen...Sooner or later...The sooner the better. I can regret it later when I am old. Doubt I will though.


actually I might financially

 

[CyclingSalmon14]

Re: The 2015 Lounge

I was born with terrible memory...I always fear I might have Alzheimer when I grow older...Not being able to remember much I tend not to plan too far ahead either. I honestly don't kwno where I would be in 5 years. Too many sharp turns occurred in my life the last 10 years that I feel like I should just concentrate on working real hard and just let life go where it goes.

Take life as it comes I guess. Goodluck though!

 

[ven]

Re: The 2015 Lounge

The Vette is kinda like my flashlight passion. It just has to happen...Sooner or later...The sooner the better. I can regret it later when I am old. Doubt I will though.


actually I might financially

Life is too short for regrets,live life,plenty of time up there to look back

 

[chops728]

Re: The 2015 Lounge

The Vette is kinda like my flashlight passion. It just has to happen...Sooner or later...The sooner the better. I can regret it later when I am old. Doubt I will though.


actually I might financially

There's always regrets about Saving/Spending money--Coming from a guy that over the years spent 150k on high end audio

 

[ven]

Re: The 2015 Lounge

There's always regrets about Saving/Spending money--Coming from a guy that over the years spent 150k on high end audio

wow...............

Still if i had that money i would blow it on something,fast cars,vinh lights,maybe even some clothes :laughing: .............still the mm15vn keeps me warm at night:devil:

 

[jonwkng]

Re: The 2015 Lounge

still the mm15vn keeps me warm at night:devil:

Best not to let Rach see that.
Erm... Dozing off with your MM15Vn on is hazardous for your health, ven.

 

[chops728]

Re: The 2015 Lounge

wow...............

Still if i had that money i would blow it on something,fast cars,vinh lights,maybe even some clothes :laughing: .............still the mm15vn keeps me warm at night:devil:

You and I are a lot a like--HaHa--I've always found something to get into-waste money--learn about--I call it my college education
Again Ven thanks for letting me know about Harvey--I'm thinking about a pair of Triple XP-L tube lights for us to remember how bright he shined

 

[ven]

Re: The 2015 Lounge

You and I are a lot a like--HaHa--I've always found something to get into-waste money--learn about--I call it my college education
Again Ven thanks for letting me know about Harvey--I'm thinking about a pair of Triple XP-L tube lights for us to remember how bright he shined

We are

No problem,very sad chops.............i am sure he will be shining down..........in piece now and no more suffering. Feel for his poor little sister who is lost without her big brother............

 

[jmpaul320]

Re: The 2015 Lounge

As others pointed out - pay yourself first (before the government). Open up an IRA or another tax differed account. Even if you only put in a small amount the interest compounds.

Also if you buy a house - pay extra on the mortgage if you can! It will get paid down faster this way.

I bought a condo/town house when I was 22 (nearly 7 years ago) and instead of paying a mortgage for 30 years mine will be gone by the time I am 35-37.

It is important to enjoy yourself but also do your best to save too No one can say what is right for you personally but these are just some ideas - others have brought up very good points too.

If you really like the vette - you should get it imo You can always sell it in 5 or 10 years once you have had your fun.

 

[Saul Good]

Re: The 2015 Lounge

Vinh,

Roth IRA. Do it NOW : )

 

[ven]

Re: The 2015 Lounge

Best not to let Rach see that.
Erm... Dozing off with your MM15Vn on is hazardous for your health, ven.

:laughing: well i have nothing on vinh..............a light a night!!!! :nana:

 

[chops728]

Re: The 2015 Lounge

When you're self employed buy things that can be wrote off---make sure you're taking advantage of writing off your shop tools etc-- a 8000 GVW vehicle would be much more beneficial in the long run(100%write off if you have 2 vehicles)- It's amazing how much can be saved on the front end if you pay attention

 

[tinkerhell]

Re: The 2015 Lounge

I have no retirement plan at the moment...many are urging me to start thinking about one...wow so much to think about...I feel so old tonight.

Well I don't know how old you are, but you can't start early enough andit is never too late to get started. Seriously, take everyone's advice. Even if you just take a couple of percent off the top of every dollar you make and start with that you should do it. Setting up a Roth really is easy. Itcan help come tax time too.

My oldest is only 6 but I am already teaching him that the first 10% goes back to God (because it all comes from Him in the first place and because He tells us to do so) then next 15% is for retirement and is to be put up and never used until then. The next 10% is for short term savings for something big or an emergency comes along. The rest is for living on and spending to have fun or help others. Easy to say and do that when you don't have any bills or expenses but start now and it is just easier later.

 

[Skylumen]

Re: The 2015 Lounge

...so much to think about... :-(

 

[chops728]

Re: The 2015 Lounge

When you are self employed it's a lot harder to dedicate a set % amount to retirement-make it like a note they always seem to get paid--you never know how business is going to be--self employed means after deductions the first 15.3% goes to self employment tax then if you do well for yourself lets say 60k plus you're looking at another 38% + to our favorite uncle--kind of hard to save with less than 50% staying in your pocket--like I said learn to buy things you can write off--my wife is a Insurance agent--she drives a 2012 Q56 not because it's her first choice because 70k comes off the top of her gross--I have a 1 ton van and an Avalanche 100% off the top
I have a friend--he's my stepsons uncle--he always tells him (stepson age 31) you're at the need age--buy the things you need save money--I'm at the want stage of life (uncle age 65) I buy what I want because I saved when I was younger

 

[MaxBeam]

Re: The 2015 Lounge

...so much to think about... :-(

Speaking of thinking about stuff . . . . was there a winner picked for yesterday's light in the Lunar New Year Giveaway thread ?