Hike & Bike 🚵

@dougboneparth I would too if I was paid on assets under management.

I am starting to think that all this winning is actually losing.

@1269Mojo @Super70sSports Boomers not GenX

@Super70sSports Unfortunately we are responsible for the participation trophy generation… nobody to blame but ourselves

Remember how Gen X used to get shit on all the time because we were lazy and entitled and didn’t win a world war? Fast forward a few decades and we’re looking like fucking rock stars now, man.

@MarkMap4 @Rick_Ferri Why did you start at 1986?

@Rick_Ferri 3/ Since 1986, a portfolio of small & large "value" stocks and the Nasdaq100/QQQ has produced 80%+ more return, on average, versus the S&P500 and 4X the returns of the Total World Market Index, with equivalent risk, over eleven rolling 30 yr periods

When I write on X a single world equity index fund (VT) or ~65% total US stocks (VTI) and ~35% total international stocks (VXUS) is all the equity most people need to achieve their objectives, the pushback I get isn’t from individuals, it’s from advisers who charge high AUM fees.

@ConcertFinPlan @Rick_Ferri “We believe we can do more together on 98% of your income than you can do alone with 100% of it..” 2% 😂😅😆 That’s straight up robbery, bro.

@Rick_Ferri I charge a flat fee and disagree with you

@Rick_Ferri Pretty much every time. Charlie Munger said something to the effect of “tell me the incentive and I’ll tell you the outcome”.

@cogitoautomate @BarbellFi It’s the same person in both examples, we just gave them a bunch of debt instead of (home) equity, making the cash account bigger in the second scenario. The 401k value stays the same.

That’s not my thought process…the 1st person is almost there because they have 950k in accounts, but none of that is even “wealthy”. It’s stuff and they’d probably go broke in short order without the correct set up, or dip into their retirement funds And the second person has 750k So actually neither pass my test.

95% of millionaires own their house How is there even a rent vs. buy debate? 😂

@RomanPuglise That’s the 1-2 year of cash for your personal burn rate, as you call it. That’s the buffer. Anything else is market timing which 3 minutes of research will inform you doesn’t work over the long-haul. Buying and holding will beat it, all but guaranteed.

@tracknumber06 Can see both sides of it but always need that buffer.

If you’ve crossed $5M net worth… Your strategy shouldn’t look the same as it did at $500k. Growth is no longer the only objective. Durability is. Here’s the shift👇

@wonderofscience More mosquitoes in pic #1

These two photographs are separated by only 66 years.

@PeterMallouk 73% of households in Montgomery Co Maryland have over $15MM.

Simply insane stats around wealth in America. About 75,000 households have a net worth over 100 million. Over 200,000 have a net worth over 50 million. And over 400,000 have a net worth over 30 million.

@RampCapitalLLC DC Metro.

My brain cannot process this. Who are these people? Where are these people?!?!

@mattbegreatyt I said the exact same thing to my wife on the sofa without even seeing a replay. Trash call.

Purdue won so this won’t get talked about much. But this is one of the worst “Foul” calls I’ve ever seen. Absolute horrendous call that almost cost Purdue the game.

@KurtSupeCPA I did this one my dad years ago. (I’m 54 now and I’m somewhere in between having benefited and suffered) He listened but I don’t think it made much of an impression. Good news is I retired at 50 with enough money to do whatever I want for the rest of my life. Stay optimistic.

"Stop renting. Build some equity like I did." Dad bought in 1987. $710 a month. $48,000 salary. That was 18% of his gross income. His son makes $91,000. Same house today: $610,000. Payment at today's rates: $3,200 a month. That's 42% of his gross income. Same hustle. Completely different math. His son isn't lazy. The down payment alone requires roughly ten years of saving at his income. Dad's advice was perfect. For 1987. If you want to help your kids into a home without touching your retirement there are ways to do it. Annual gift exclusion. Intra-family loans at IRS minimum rates. Direct payment toward principal. Most parents give too much too fast or nothing at all. Nobody showed them the middle.

@barstoolsports With enough camera angles almost any two players touching can be argued a foul. Working hard in the gym pays off on floor. This is a prime example.

Should this have been an offensive foul on Purdue?

@EndGameHS @HedgeFundFomo I was an FA when I met my now wife (she was a client of an FA in my office) and her IRA was in cash there for years.

@tracknumber06 @HedgeFundFomo I talked to a lady the other day. She asked why her Roth hasn’t grown in three years. Come to find out it’s sitting in cash. Lol

Financial advisors charging 1% to put their client's money into an index fund that they could buy themselves for free

@EndGameHS @HedgeFundFomo A good CPA can help with that without having to give him a percentage of your returns every year no matter how much help you need.

@tracknumber06 @HedgeFundFomo I don’t think it’s the funds you’re paying for, it’s the service. A good advisor will give them tax planning strategies, Roth conversions so many other things that advisor can help but most don’t do it.

@LynAldenContact Remind me of a plan that went the way we were promised it would? TARP, arguably. I can’t think of another one.

Remember Bessent’s 3/3/3 plan? One of the 3’s was 3%-of-GDP deficits.

@TylerPurcell24 Who the heck wants a few cool cars? You can only drive one at a time.

Look, I’m a boat guy, but who in the heck is buying $400k wake boats? I’d rather have a few cool cars. Not to mention it probably drops $100k in value the second it’s “used”.

@cogitoautomate @BarbellFi Yep. The person with a $1.25MM paid-for home, an $65,000 paid-for Lexus in the garage, a $900,000 401k and $50,000 cash account isn’t a millionaire. But if she had a huge mortgage, big car payment and a $750,000 cash account they’ve passed your test.

@BarbellFi Of the 95%, how many of them would be millionaires if you don’t include their home equity? A millionaire should be considered as someone who has a million dollars that then can withdraw and have access to within a few days