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Goal Progress

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thewh00sel    United States. Apr 11 2014 17:58. Posts 2718

  Feb Goal Progress
Pay off auto loans of ~16k
8% complete


25% complete: 12k left @ 4.3%

 
Put a dent in student loans of ~60k
0.8% paid off


6.6% complete: 56k left @6.8%

 
Invest ~25-30k outside of any day-trading or sports betting ventures.
0% complete


Invested about 15k into various index funds and 2k into part ownership of two bitcoin miners
~50% complete


  Play a few less tournaments during the WSOP (and win one)
n/a




  1800 hours of cash games
7.78% complete


21% complete: 387 hours. Slacking here and definitely off pace.


  Added Goal
65% Saving rate for the year
Average Savings Rate: 77%


Average savings rate: 80%

So I'm exceeding most goals due to running well for the first part of the year. Should have put that as one of my goals as well, heh.

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A government is the most dangerous threat to man’s rights: it holds a legal monopoly on the use of physical force against legally disarmed victims. - Ayn Rand 

bigredhoss   Cook Islands. Apr 11 2014 20:05. Posts 8563

teach me

Truck-Crash Life 

patmcgroin   Afghanistan. Apr 11 2014 21:03. Posts 830

wow student loans in the US have interest rates of 6.6%? even the official cash rate is ~0%?

Seems ridiculous.

In Australia, student help loans have interest of our price inflation index, currently around ~2%.

Sweet country.


traxamillion   United States. Apr 11 2014 22:02. Posts 10274

Lol 6.6% if your lucky. Back in 2004 I got my student loans at around 4.4% but these days it is much worse.


QuirkyEric   Slovakia. Apr 12 2014 08:58. Posts 308


  On April 11 2014 19:05 bigredhoss wrote:
teach me


YouGoTGoT   United States. Apr 12 2014 10:48. Posts 1118

Im sure whoosel is aware already but I suggest anyone interested in learning how to manage their personal finances and begin saving at a high rate read the mr. money mustache blog. As someone making 6 figures and still not saving much that man really opened my eyes.

YA I TALK SHIT, GOTTA DEFECATE TO CONVERSATE 

RiKD    United States. Apr 13 2014 10:44. Posts 4100

Great shit.

Would be interested to hear about your opinions on index funds + bitcoin investments?

Also, where you put the "savings"?


Mariuslol   Norway. Apr 14 2014 01:41. Posts 4741

And how do you make so pretty babies?


collegesucks   United States. Apr 15 2014 23:06. Posts 5779

what's the rationale behind saving/investing before paying off all of your debts first? higher rate of return on investments and lower interest rate on debts?

OoV 

thewh00sel    United States. Apr 16 2014 10:45. Posts 2718


  On April 15 2014 22:06 collegesucks wrote:
what's the rationale behind saving/investing before paying off all of your debts first? higher rate of return on investments and lower interest rate on debts?


Two main reasons.

#1. Insurance. The idea is that it is protection from big downswings. The same reason that I'm paying off car loans @ 4.3% before paying off student loans @ 6.8%. Leaving me with some liquidity in case I needed a largeish amount of money due to breakeven stretch/downswing lasting up to a year or two I would be able to cash out investments and potentially sell a vehicle for the cash and borrow to finance another one. Unlikely, but it has happened to me before.

#2. Inflation hedge. I don't have a ton of faith in an economic recovery; so keeping debt is like an extra investment. If you think that the U.S. dollar is going to lose value, then you can wait to pay debt with inflated dollars later, or not at all if no one can pay due to hyper inflation.

A government is the most dangerous threat to man’s rights: it holds a legal monopoly on the use of physical force against legally disarmed victims. - Ayn Rand 

collegesucks   United States. Apr 18 2014 19:06. Posts 5779

That actually makes a lot of sense. I thought it was a curious deviation from normal financial advice but it all makes sense from a poker player's point of view.

OoV 

 





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