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8 votes
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Google’s eighty-acre San Jose mega-campus is on hold as company reckons with economic slowdown
7 votes -
The high-wire drama of raising the US debt ceiling is making headlines again. Is there a better way? Perhaps Denmark has the answer.
5 votes -
Taxing the superrich
11 votes -
The reasons behind France’s pension protests
3 votes -
University of California under fire for Blackstone investment
3 votes -
Super-rich abandoning Norway at record rate as wealth tax rises slightly – flood moving abroad has come as a shock and is costing tens of millions in lost tax receipts
10 votes -
Google to prohibit personal loan apps from accessing user photos, contacts
11 votes -
Substack opens up a $2 million community fundraising round
4 votes -
Deposit insurance maximization as a service
1 vote -
At the heart of the Sweden's economic and social crisis is a broken housing market
9 votes -
The business behind Kurzgesagt
11 votes -
CFTC is suing Binance, CEO Changpeng Zhao
4 votes -
In praise of the Danish mortgage system
6 votes -
After Signature Bank deal, FDIC is left with $11 billion in ‘toxic waste’ loans
6 votes -
Age of Easy Money | PBS Frontline documentary
2 votes -
Joko Widodo wants local governments to ditch Visa, Mastercard
4 votes -
What's the best way to save/store money?
Lately I've been thinking about withdrawing most if not all my money off the bank and investing in a safe box, but I'm not sure how wise of a decision that is. How does everyone here go about...
Lately I've been thinking about withdrawing most if not all my money off the bank and investing in a safe box, but I'm not sure how wise of a decision that is. How does everyone here go about that? Do you keep your money in the bank? Do you have a safe box at home? Why one over the other? Do you invest some of it, say in things like cryptocurrencies/stocks? What would you recommend or advice someone to do in regards to this if you could?
12 votes -
KPMG gave SVB, Signature Bank clean bill of health weeks before collapse. Accounting firm faces scrutiny for audits of failed banks.
6 votes -
T-Mobile acquires Mint, partially owned by Ryan Reynolds
7 votes -
Banking in very uncertain times
8 votes -
Silicon Valley Bank has failed and been taken over by the FDIC
25 votes -
Signature Bank shut down by US regulators
10 votes -
The incredible tantrum venture capitalists threw over Silicon Valley Bank
5 votes -
Other people's money
5 votes -
The lie that's destroying the economy
5 votes -
Why the South has such low credit scores
9 votes -
The greatest tax system in the world – why can't America be as great as the Faroe Islands?
14 votes -
Norway has seized a record $5.8 million worth of cryptocurrency that was stolen by North Korean hackers last year
5 votes -
Money laundering and AML compliance
5 votes -
Beijing needs to junk its economic playbook
4 votes -
The incentive problem at the heart of the American justice system
7 votes -
How Gautam Adani lost more than $50 billion in a week
4 votes -
Norway's sovereign wealth fund reported a record loss of $164 billion for the whole of 2022, citing 'very unusual' market conditions
7 votes -
New Yorkers never came ‘flooding back.’ Why did rents go up so much?
18 votes -
IKEA is using more wood from Sweden and the Baltics to make up for not sourcing it from Russia and Belarus, which the company has shunned due to Moscow's war in Ukraine
4 votes -
The case of the medieval castle and the opportunity cost of warfare
7 votes -
Norway's fossil fuel bonanza stokes impassioned debate about how best to spend its 'war profits'
4 votes -
Japan has changed a lot
8 votes -
Spotify said Monday that it will cut 6% of its workforce to reduce costs – CEO Daniel Ek took full responsibility for the job cuts, which he called “difficult but necessary”
8 votes -
Brazil and Argentina to start preparations for a common currency
10 votes -
Amazon discontinues charity donation program amid cost cuts
18 votes -
Microsoft is laying off 10,000 employees
10 votes -
Consumer prices fell 0.1% in December, in line with expectations from economists
8 votes -
Donald Trump's company sentenced to pay $1.61 million penalty for tax fraud
11 votes -
Safe deposit boxes aren’t safe
8 votes -
Scams, zealots, and jet skis: Life inside the crypto scene
3 votes -
What are your financial goals? What habits, practices, and strategies do you use to reach them?
How do you spend your money? How do you want to spend it? How do you save? I'm curious what strategies my fellow Tildenizens use to spend efficiently, build savings for retirement and other...
How do you spend your money? How do you want to spend it? How do you save?
I'm curious what strategies my fellow Tildenizens use to spend efficiently, build savings for retirement and other purchases, and otherwise maximize their financial lives. How do you use your money to maximize your happiness?
Here's me: I'm young, single, thankfully debt-free, and my annual salary is about $70,000. I'm able to save approximately 35% of that by living relatively frugally:
All My Stuff
- I live in a big city, but not an expensive one. I pay rent, but it's pretty low for the amenities I have access to.
- I live with a roommate to reduce expenses. We're on the same wavelength about minimizing spending.
- I don't own a car and rely on public transit and carpooling to get places. I also work from home.
- I go out of my way to shop at the cheapest grocery stores in the area to cut my weekly bill in half (or more).
- I have three credit cards, but I always keep my utilization low and never miss a minimum payment.
- I have a separate bank account (checking) for bills than for general spending. I set up my direct deposit to automatically put in all necessary funds for bills into the bill account. Then I set up autopay with all my providers so I don't miss payments. I have one month's buffer in this account in case there's some issue with my paycheck.
- I contribute as much as I can to my employer-provided 401(k) savings account every month and invest in index funds. I can get to about 65% of the IRS max contribution limit with my income.
- I contribute to a Roth Individual Retirement Account (IRA) every month to reach the IRS max contribution limit for the year, and invest in index funds.
- I have a high-deductible healthcare plan (HDHP) which lets me use a Health Savings Account (HSA). My company pays a little into my HSA each month, and I contribute a similar amount to reach the IRS max contribution limit. Instead of using the HSA to pay for medical expenses, my strategy is to pay out of pocket for all expenses and simply invest the funds in my HSA in index funds to maximize their growth potential. Since this account is so tax-advantaged, investments here are more efficient (as far as I can tell) than in any other account I know of.
- I have a taxable brokerage account that I contribute a small amount to each month. I know this isn't technically as efficient as putting more into my 401(k), but I figure I might want to use some of this money before I retire. I also kind of like betting on random stocks. Irresponsible, I know, but it's like $20 at a time. Gotta have fun?
- I set up my TreasuryDirect.gov account to automatically buy I-Bonds while inflation is high, but only on the order of $100/mo. I don't know when I should stop exactly... we'll see what the interest rates are in May?
I'm not really sure what I'm saving for here. I know you're not supposed to make financial decisions without a plan, but I honestly don't know what I want to do in the next 5 years, let alone 50. People tell me that I should buy a house to build equity instead of throwing away money in rent, but I'm enjoying not dealing with maintenance, and I don't know if I want to stay in this city for more than a few years. It's cute, and I have friends here, but city hall is full of goobers and there are too many highways nearby messing with the feng shui.
Someone also suggested that I buy a small property and rent it out through a property management company, even if I'm still renting myself. Besides landlords being the scum of the earth and the moral quandaries that might present if I were to become one (even a tolerable one), that also feels like a lot of work. Possibly also financially unrealistic considering I'd need a 20% down payment on a house I don't intend to live in, and... I don't have that.
I also might switch careers soon-ish, possibly to software engineering, which has a better earnings potential. I've avoided it in the past because I feel like I'm just not good enough at programming. I don't know how I would properly improve those skills now that I'm out of school.
My pipe dream is that I want to build a really fricking big building. That's my goal. I want it to be really sick and have big Gothic spires and gargoyles and stained glass windows and cool stone carvings everywhere (but also be ADA accessible and not full of asbestos, because it's 2023). And people would come from miles around and say, "Wow, that's a cool building." All the non-racist secret societies could meet in its various hidden chambers and do whatever they do. I would hire whoever builds concert halls to design the acoustics so I could have some bomb choirs going in there, and make the floor sprung so they could do those crazy ballet dances too. Maybe at the same time. Also there would be a moat full of lava. And a robot dragon to guard it all just in case. I think this would cost upward of $500 million in total. Unfortunately that's slightly out of budget, even at my abnormal savings rate.
But priorities change, right? I figure that if I can save enough to make myself think I might be able to build my big-ass building one day, when I eventually realize, "Wait a second, my kid needs to go to college," I'll accidentally have enough to make that happen.
How does this compare to your life? What tips, tricks, and ideas would you like to share to help each other out? What are your financial dreams? I'm really interested in chatting with everyone about this.
6 votes -
Barnes and Noble's surprising turnaround
18 votes -
Japan’s business owners can’t find successors. This man is giving his away.
9 votes