36 replies to this topic

[Cisc-O's]

Bowling. Most sports I was average at because I was always one of the fastest on the field. I am good with darts, knives, guns but damn if that bowling ball will not do what I will it to do. No drinking does not work...

[You Play to Win the Game]

1st person shooter games.

I played video games growing up. Doom, Duke Nukem, I held my own. Once GoldenEye came out and you would play against other people, I realized how much I sucked at it. I'd play Halo with my roommates back in the day. I think it was 30 kills to win. I never won. I don't think I ever got to 20 before someone else got to 30.

I'd get an itch and pick up Call of Duty or something. I can do the storylines ok. But online, I'm toast. I just don't get it. I'd find a sniper rifle, know I need to get to an elevated position....killed on the way there. I'd get a shotgun, know I need to be in close range...killed before I'm close enough. I'd have a machine gun firing away, guy throws a grenade and evades my shooting...I'm dead. I find what I think is a hiding spot...I'm shot in the head from behind.

I hear a lot about Fortnite. Im like, why should I even bother?

The downside to online multiplayer is there is no option for Easy/Normal/Hard. BTW, this is me too. Hover around a 1 KD, which is frustrating.

[Pedro Cerrano]

At my peak I was really freaking good at Halo 3.

[SportsGuy]

Patience

[Mike B]

Can you read a map?

That is a lost art,  Shack.

[DJ MC]

Time management. Most things that I do, whether it is travelling somewhere or working on a task or even reading or watching something for fun, take significantly longer to do than I expect. Add in problems I have with procrastination, and it does not make for a fun combination.

[Pedro Cerrano]

I’m actually really good at time management. Almost always on time or early.

One thing I’m really bad at is managing money.

This is NOT meant to be any sort of humblebrag but with my salary I feel like I should be a lot more financially stable than I am.

Not that I’m struggling to pay the bills or anything but more long term — I wish I had more saved for retirement, home down payment etc etc.

Too much interest in short term stuff like trips and other purchases I guess.

[You Play to Win the Game]

So long as the money is going on experiences (which you'll cherish when you're old), and not the next best big screen TV every 6 months, it's not the worst thing in the world. You're also still young, so as your income continues to increase, so can your opportunities to catch up a bit. But I couldn't advise you more to just pay yourself first. Start with 5%,or 10% if you can swing it, and have it direct deposited somewhere hard to reach. That's how you build up your emergency fund. But don't beat yourself up either. Over 57% of Americans would be unable to afford an unexpected expense of $500. So either you're not alone, or if that doesn't apply to you, you're in the top 43 percentile just by that alone. Perspective.

[SBTarheel]

I’m actually really good at time management. Almost always on time or early.

One thing I’m really bad at is managing money.

This is NOT meant to be any sort of humblebrag but with my salary I feel like I should be a lot more financially stable than I am.

Not that I’m struggling to pay the bills or anything but more long term — I wish I had more saved for retirement, home down payment etc etc.

Too much interest in short term stuff like trips and other purchases I guess.

Go see a Financial planner. I scoffed at it when it was first brought up to me, and honestly it was one of the best things we could have done long term.

We're not "rich" by any means, but with the help of this guy combined with our jobs, we're doing well enough now, the kids have plenty of money in their college funds, and we will retire with plenty to live comfortably with.

I'll tell you more privately if you're interested, and I could give you my guy's info.

[Pedro Cerrano]

I don’t really have an “emergency fund” but if I needed something like a major car repair I’d be ok

I’m more concerned about long term stuff. If I want to buy a 500k house and want to put 20% down id need $100,000 which I don’t have lol.

Part of the issue is student loan payments. If those could go away id be a LOT better off.

[SportsGuy]

I don’t really have an “emergency fund” but if I needed something like a major car repair I’d be ok

I’m more concerned about long term stuff. If I want to buy a 500k house and want to put 20% down id need $100,000 which I don’t have lol.

Part of the issue is student loan payments. If those could go away id be a LOT better off.

Ehhh, just pay the PMI.  I regret putting the money down on my house that I have.

[The Epic]

Go see a Financial planner. I scoffed at it when it was first brought up to me, and honestly it was one of the best things we could have done long term.

We're not "rich" by any means, but with the help of this guy combined with our jobs, we're doing well enough now, the kids have plenty of money in their college funds, and we will retire with plenty to live comfortably with.

I'll tell you more privately if you're interested, and I could give you my guy's info.

 

I second this. HOWEVER, some financial planners are shills. Had this discussion with a friend of mine that does planning for a living, and it really helps that you do your homework. It's difficult to find someone that has your strategy at heart.

 

In other words, if Seth's happy with his guy, I'd start with that guy and maybe see if he could find someone closer to you (if applicable).

[You Play to Win the Game]

Ehhh, just pay the PMI. I regret putting the money down on my house that I have.

Why is that? Depreciation?

[You Play to Win the Game]

I second this. HOWEVER, some financial planners are shills. Had this discussion with a friend of mine that does planning for a living, and it really helps that you do your homework. It's difficult to find someone that has your strategy at heart.

In other words, if Seth's happy with his guy, I'd start with that guy and maybe see if he could find someone closer to you (if applicable).

100%. I've got a guy who is rock solid... great integrity. But I'll let Seth's guy have a crack at it first. Great point though. Push back, ask a lot of questions. If they are good and care they will answer them with ease and be eager to put you at ease.

[SportsGuy]

Why is that? Depreciation?

PMI is usually around 1% extra.

 

Every 10K on your mortgage is about $50 a month in payment.

 

Using Pedro's example, if you put down 20% on a 500K house, that is 100K.

 

Using todays rates on a conventional loan of about 4.5%, your mortgage(not including ins and taxes) is 2027 a month.

 

If you put down the minimum amount, which is 5%, your mortgage is based off of 475K and your rate, with the PMI, would be around 5.5%. Your payment is now 2697.

 

Now, $670 a month is a big difference.  However, if you can afford a house of that price, you likely could afford that increase.  That is a little more than 8000 a year...which is over 9 years worth of payments until you get that 75K back.

 

Now, take into account that you now have $75,000 at your disposal to do what you want...Whether its improvements to your home, buying stocks, buying other investments, etc...

 

Combine that with your ability to re-fi out of the PMI once you get to the 20% (which you can get too quickly if you are able to pay more towards your principle by sending in more money every month), i think its a no brainer.

 

Now, maybe you want to put up more than 5%.  Either way, you are paying the PMI but if you want to do 10% instead, you mortgage drops to 2555.  

 

Again, I would rather have 25K to play with vs the $140ish a month in a 30 year mortgage.

 

Now, if you think you would just piss the money away on stupid stuff, don't want to spend the extra money for your payment and/or aren't someone who is good or interested in investing your money, then perhaps paying the 20% is worth it to you.

 

On top of all of this, consider that the average person moves every 7 years and that the average mortgage is changed (whether through sale, refi, etc..) every 4-6 years and you can make the argument that you are better off doing other things with that money.

[McNulty]

I can't take pictures.  Every time I take one, someone is always unhappy with it.  I either don't frame it right, or get something in the background that shouldn't be, or I don't include something in the background that should.

 

I don't give a shit about pictures to start with, which is why I suck at it.  Every time I see a picture, I think the same thing:  

 

'Yup, its people'

[McNulty]

PMI is usually around 1% extra.

 

Every 10K on your mortgage is about $50 a month in payment.

 

Using Pedro's example, if you put down 20% on a 500K house, that is 100K.

 

Using todays rates on a conventional loan of about 4.5%, your mortgage(not including ins and taxes) is 2027 a month.

 

If you put down the minimum amount, which is 5%, your mortgage is based off of 475K and your rate, with the PMI, would be around 5.5%. Your payment is now 2697.

 

Now, $670 a month is a big difference.  However, if you can afford a house of that price, you likely could afford that increase.  That is a little more than 8000 a year...which is over 9 years worth of payments until you get that 75K back.

 

Now, take into account that you now have $75,000 at your disposal to do what you want...Whether its improvements to your home, buying stocks, buying other investments, etc...

 

Combine that with your ability to re-fi out of the PMI once you get to the 20% (which you can get too quickly if you are able to pay more towards your principle by sending in more money every month), i think its a no brainer.

 

Now, maybe you want to put up more than 5%.  Either way, you are paying the PMI but if you want to do 10% instead, you mortgage drops to 2555.  

 

Again, I would rather have 25K to play with vs the $140ish a month in a 30 year mortgage.

 

Now, if you think you would just piss the money away on stupid stuff, don't want to spend the extra money for your payment and/or aren't someone who is good or interested in investing your money, then perhaps paying the 20% is worth it to you.

 

On top of all of this, consider that the average person moves every 7 years and that the average mortgage is changed (whether through sale, refi, etc..) every 4-6 years and you can make the argument that you are better off doing other things with that money.

 

I lol'd