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~ archived since 2018 ~
| Upvotes | Title | Category | Author | Subreddit | Date (UTC) |
|---|---|---|---|---|---|
| 428 | Managing Financial Risks and The Importance of "Fuck You Money" | Finance | swimmingNafishbowl | /r/TheRedPill | 19/06/18 05:12 AM |
| Upvotes | Comment on | Subreddit | Date (UTC) |
|---|---|---|---|
| 1 | Managing Financial Risks and The Importance of "Fuck You Money"The idea for the savings is to keep you from being forced into taking on debt or selling off investments at unfavorable times. Therefore, a tailored number requires insight into your personal situation. Like I mentioned in my post, the idea is that, for most people, 6 months worth of expenses would get you through a period of unemployment or cover a large loss, provided you're properly insured to cover the remainder of the cost, by providing for your deductible. I wish I could provide you with m… | /r/TheRedPill | 23/06/18 03:11 PM |
| 1 | Managing Financial Risks and The Importance of "Fuck You Money"Sorry to hear things aren't going great. This is exactly why I wrote this post. Generally, I'd tell you to shore up your emergency savings and other exposures before investing more (a possible exception here is if you're getting a match on your contributions to a retirement account or something like that). Once you get back on your feet, research and consider a Roth IRA. You still need your savings readily available, but, worst case, if you blow through that, you can generally access up to the a… | /r/TheRedPill | 21/06/18 07:14 PM |
| 1 | Managing Financial Risks and The Importance of "Fuck You Money"I'm no expert on this, but essentially, it's a buy low - sell high strategy. Take kettle bells for example: You build a website with some content and then sell Kettle bells (nothing special) with your logo on them at a steep mark-up. Usually these stores have a theme due to the other value adds (such as content). | /r/TheRedPill | 20/06/18 01:29 PM |
| 1 | Managing Financial Risks and The Importance of "Fuck You Money"I get that, really. They may be a waste of time, but their money isn't!! Really though, just trying to encourage, not criticize. In that case, you could also offer services online. Udemy has coding classes for less than $20 bucks all the time. That may be a side hustle that could turn into a full on consulting business, where email communication is not out of the ordinary. Either way, good luck! | /r/TheRedPill | 20/06/18 12:37 AM |
| 4 | Managing Financial Risks and The Importance of "Fuck You Money"Maybe an internet-based business. Starting a Shopify store or becoming an Amazon supplier might work. There are lots of strategies used in these businesses, but I've heard private labeling is the cash cow over the long haul. In the meantime, you should work on getting comfortable being uncomfortable. Don't let a label like introvert stop you from capitalizing on opportunities. We tend to enjoy what we do well and we tend to do well at things we practice. We're a social species; go out and cold a… | /r/TheRedPill | 19/06/18 10:55 PM |
| 0 | Managing Financial Risks and The Importance of "Fuck You Money"Just to round out this point: The reason this (mostly correct) point is so often misunderstood is that people don't hear the full message. No one's been shown to *reliably beat the market on a *risk-adjusted basis. This is well-documented in the literature, all the way back to the 50 -60's, I believe, when Markowitz published his paper on modern portfolio theory. Google it: it's not hard to understand and it's the spine of the diversification argument. | /r/TheRedPill | 19/06/18 09:45 PM |
| 14 | Every man must face a huge crash to learn and strive for a better future - a lesson on AWALT, family law, and the hamster.You can't repeat this shit enough! I've had a rough go my entire life and always flourished when challenged. Most RP theory was already engrained, but not well-defined, through life experience. Still, when I found myself facing the reality of losing half of my kid's time growing up, I too shattered my frame. It was disgusting. Forward momentum is the only solution. Do everything you can to hold frame in public and play long-ball. After a year of doing my thing and starving her of my time or vali… | /r/TheRedPill | 19/06/18 08:59 PM |
| 10 | Managing Financial Risks and The Importance of "Fuck You Money"Honestly, most of my reading comes from prescribed texts and research during my studies (Masters and several professional designations) and probably more than you need. Alot of money "experts" are like diet "experts;" they try to put new sizzle on the same ol' steak. You'll be better off than most if you can: Spend less than you make Save as much as you can Don't do anything stupid (don't put money into something you don't understand and don't be scared to get help from a fiduciary, preferably a… | /r/TheRedPill | 19/06/18 08:23 PM |
| 1 | Managing Financial Risks and The Importance of "Fuck You Money"Sounds like a CD product of some sort. To be fair here, what I mean isn't dollars in your mattress. A checking, savings, money market, or similar solution is what I mean by cash. Bonds and bond funds still fluctuate in value, which poses a significant risk. Say, for example, the market declines and you also get laid off (2008). Then, you're right back to square one. Solid point, though. | /r/TheRedPill | 19/06/18 07:17 PM |
| 5 | Managing Financial Risks and The Importance of "Fuck You Money"I'll have to check them out! Thanks for the lead and congratulations on living your best life! | /r/TheRedPill | 19/06/18 04:09 PM |
| 4 | Managing Financial Risks and The Importance of "Fuck You Money"GTFOH, you sound like you're a call center financial advisor. My post is general education. The reason those laws even have to exist is for people like you who would listen to any asshole on the internet who promises to turn their $1mm into $10mm. For those construing this as personal advice. It's not, I mean it to be general education for you to either research and make a decision or take to your trusted professional. I don't know you or your situation. Also, don't stick your dick in a running … | /r/TheRedPill | 19/06/18 03:18 PM |
| 1 | Managing Financial Risks and The Importance of "Fuck You Money"That's not a horrible idea. There are risks to having too much in cash, as well; mainly inflation and opportunity risk. That said, I usually suggest that my retired clients keep 2 years worth of required portfolio income in cash with the goal of never letting this dip below 6 months. The idea is they can then take on greater equity exposure and weather most bear markets, which have historically lasted 6-12 months. | /r/TheRedPill | 19/06/18 03:01 PM |
| 1 | Managing Financial Risks and The Importance of "Fuck You Money"No sweat, man. Congratulations on building something meaningful. Often, I have to beat the concept of diversification into my business owner clients. Good on you for being rational! As a side note for readers: if you're short on start-up funds, look for opportunities where you can use your skills as a service and invest only what's required. Let you initial investment generate some profits to prove up the market and reinvest. Like ApexmanRP said, don't dump everything in from the jump! | /r/TheRedPill | 19/06/18 02:58 PM |
| 2 | Managing Financial Risks and The Importance of "Fuck You Money"I guess that depends on how valuable your skills are to society. Every man should spend some time learning business priciples. There are tons of resources online that are free or low cost. Regardless of your craft, at least then you can hang your own shingle, if times get tough! | /r/TheRedPill | 19/06/18 02:52 PM |
| 12 | Managing Financial Risks and The Importance of "Fuck You Money"If my comment doesn't make sense, you're missing the point and splitting hairs here. The point was that diversification of income is a good practice, thank you for bringing this up, but not in and of itself a replacement for the other risk management strategies I put forward. | /r/TheRedPill | 19/06/18 09:30 AM |
| 9 | Managing Financial Risks and The Importance of "Fuck You Money"Great points all around. I too gave up drinking several years ago and it's been one of my best decisions to date. Glad to hear you figured this out years ago! | /r/TheRedPill | 19/06/18 09:16 AM |
| 41 | Managing Financial Risks and The Importance of "Fuck You Money"Thanks Man! I'm not familiar with the FIRE term, but agree with the premise. Just like anything else in RP, happiness comes from having options. Being able to retire or follow your passion instead of the next check is no exception. When it comes to building wealth, I'm a huge proponent of entrepreneurship (congratulations on getting back in gear, business ownership is a meat grinder, but worth it for the independence). I also think the accumulation of "stuff" instead of saving and investing is w… | /r/TheRedPill | 19/06/18 09:10 AM |
| 1 | Managing Financial Risks and The Importance of "Fuck You Money"Managing exposure is related to investing and wealth accumulation. Not what's being discussed here. It won't help when you need to sell off the entire portfolio you're "trading" (which is a shit strategy for the vast majority of the population) due to some unexpected expense. Put forward a case and I'll rebut. Being talked into a better situation is not a bad thing. It's collective learning and it's what this sub is for. | /r/TheRedPill | 19/06/18 08:52 AM |
| 2 | Managing Financial Risks and The Importance of "Fuck You Money"Not bad for the typical retail investor investing in stocks/bonds. The rule, as I've seen it, is generally more toward 5%, but even then, almost no entrepreneur can reasonably be expected to follow that guidence. | /r/TheRedPill | 19/06/18 08:19 AM |
| 8 | Managing Financial Risks and The Importance of "Fuck You Money"Devil's in the details there. I'll take one hugely profitable business over 2-3 marginally profitable rental properties, for example, any day. You make a good point and diversification (of income streams, in this case), is also a risk management strategy, though typically more well-known in investments. | /r/TheRedPill | 19/06/18 08:15 AM |
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