The Ongoing New Financial Era Thread

Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Fri Mar 29, 2019 2:28 pm

Those child care costs looked nuts.

You have no idea. When my youngest was born and my wife went back to work, we paid $350 a week for him to be in care during the day. This was back in October of 2018, so almost 18 years ago, and it was going to cost us ~$17,000. And, that wasn't in NYC but in the suburbs outside the city.

Children aren't a little costly. They are over the top expensive. Of all the stupidity in that budget, that was one I didn't even wince at. That's what it costs.
Baseball season!!!!

LioninVa
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Re: The Ongoing New Financial Era Thread

Postby LioninVa » Fri Mar 29, 2019 2:38 pm

I couldn’t get past the premise of the article but think you guys have summarized it well. That said, my wife and I were discussing how the newer generation is an “I want it all now” one. I am sure that there are exceptions, but they seem to buy beyond their means rather than settle and/or plan for down the road. Must have the best new car and big house on the hill. I remember the “salad years” where there were things I wanted but couldn’t afford or, better year, justify the expense. I think this is much less common now.

PittGradPSUMad
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Re: The Ongoing New Financial Era Thread

Postby PittGradPSUMad » Fri Mar 29, 2019 3:01 pm

Despite my money management philosophy, I've been thinking of purchasing a nice luxury vehicle. I figured I deserved it after all those years of financial discipline. So I recently test drove a 2018 Audi A6, the vehicle I settled upon after much due diligence. After the test drive, I told myself I deserved this car. Then I asked myself "WTF are you thinking." I walked away from the dealership and never looked back. Old habits are hard to break.
Yeah, well, that's like your opinion, man.

psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Fri Mar 29, 2019 3:07 pm

My son keeps bugging me to "loosen up" and buy a nice car. I can afford it. But it's not in my DNA. I may upgrade from a Honda Civic to an Accord, though.
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Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Fri Mar 29, 2019 3:51 pm

If you do decide to buy a nice car, I'd advise not buying the Audi. Or, for that matter, a BMW or a Mercedes. Don't get me wrong, they are absolutely great cars. But, the cost of ownership can be really high, especially once you get over 50,000 miles. A Lexus is a Toyota. An Infiniti is a Nissan. An Acura is a Honda. All the luxury and cheap and easy to maintain.

I love the look of Audis and BMWs but they can be money pits. No thanks.
Baseball season!!!!

PittGradPSUMad
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Re: The Ongoing New Financial Era Thread

Postby PittGradPSUMad » Fri Mar 29, 2019 4:37 pm

And the Audi is a glorified VW. I'm over it. My daughter has a Lexus hybrid ES300. It's 2-wheel drive...that's the only thing I don't like about it; otherwise, it's regoddamdiculously reliable. If the bug ever bites again, that probably would be the choice.
Yeah, well, that's like your opinion, man.

psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Fri Mar 29, 2019 10:09 pm

An Acura is a Honda

Image

2019 Acura NSX. 159 large.

Mrs psu_dad: Forget it.
Me: Party pooper.
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psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Wed May 29, 2019 10:25 am

Good grief. Not a lot of faith in Uncle Sam these days. The yields on US Treasury bonds are in free fall. I can get a better rate on a CD from the Hooterville Savings Bank.
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Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Wed May 29, 2019 12:58 pm

Are rare earth minerals China's trump card in its trade war with US?

If you're wondering why the Dow is completely in the toilet, I'm pretty sure this is why. A friend of mine said this morning he thinks Trump will have no choice but to pull back on his trade war. I told him I'll take that bet. I don't think Trump is going to blink at this. He's probably betting that China isn't willing to really follow through. I think that's not a crazy bet. Their economy is tied tightly to our economy. This action will hurt them as much as us. Guess we will see. Sort of wish I had invested in gold and other metals sometime prior to this morning. Oh well.
Baseball season!!!!

psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Wed May 29, 2019 1:22 pm

Investors are apparently concerned about economic growth, hence the retreat to treasury bonds and the downward pressure on yields. As long as investor "concern" doesn't morph into full-scale "panic", then I agree Trump will probably stay the course.
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