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  #41 (permalink)  
Old 06-06-2016, 02:45 PM
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Originally Posted by tripods68 View Post
http://freedomwithbruno.com/financial-independence/

How close are you from retiring?

I'm about 10 years.
I would retire this moment if I could. I don't believe I will be able to completely retire until I reach age 65 (that's 16 years away). I am hoping to semi-retire within the next 10 years.
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  #42 (permalink)  
Old 06-06-2016, 02:47 PM
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Originally Posted by Eagle View Post
"What if I told you there was a $70 billion tax that the poor pay the most.
I hate when they use the term "tax" in relation to the lottery.

It is not a tax.
It is a totally voluntary purchase.
Nobody is mandating that anyone buy lottery tickets.

If they'd like to make actual taxes voluntary, I'd be happy to sign up. But please stop calling the lottery a tax on the poor.
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Old 06-06-2016, 11:12 PM
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Originally Posted by Petunia 100 View Post
I could still not buy it in good conscience. That said, since I buy total market index funds, I own a tiny sliver of Phillip Morris. I would much rather not.
I can't picture myself working for a company (and must less expanding it) when I know it's doing harm to its customers. Best to leave that to somebody else. I also would prefer to never own any of its stock.
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  #44 (permalink)  
Old 06-07-2016, 11:38 AM
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I can't picture myself working for a company (and must less expanding it) when I know it's doing harm to its customers. Best to leave that to somebody else. I also would prefer to never own any of its stock.
What about a car manufacturer, whose carbon emissions are killing all the polar bears?

Or a beer company - how many people are killed by drunk drivers each year?

Or Nabisco, who is a major contributor to obesity with Oreos and the rest?

Or a Pest Control manufacturer, which puts chemicals in a bottle that kill people every year?

Or a clothing manufacturer, which imports shirts made in child labor sweatshops overseas?

Or WalMart or Target, which sells all of the above, presumably for big profits?

Or a for-profit hospital chain, which is practicing "rape and pillage" with its billing to thousands of customers, to the point of putting liens on property (which they are entitled to do) to satisfy bills that are marked up 10,000 percent?
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  #45 (permalink)  
Old 06-07-2016, 11:48 AM
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Bit off topic.. And a bit of a n00b question so bare with me..

The only brokerage account (besides my 401k through work) is through fidelity and I have 2 mutual funds invested there. So if I were to purchase some Phillip Morris stocks would I be able to do so? What's it's "ticker" and is there a minimum to invest?

To be on topic my goal is to be retired around 60. Sooner if I can. I do have a lot of work to do with my goal but then again I'm only 32.
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  #46 (permalink)  
Old 06-07-2016, 11:59 AM
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The only brokerage account (besides my 401k through work) is through fidelity and I have 2 mutual funds invested there. So if I were to purchase some Phillip Morris stocks would I be able to do so? What's it's "ticker" and is there a minimum to invest?
You can certainly buy any stock you'd like through your broker.

Phillip Morris is actually a division of Altria, ticker symbol MO.

There is generally no minimum on how many shares you can buy unless your broker imposes one. Just keep in mind that the commission is generally the same whether you're buying 1 share or 50 shares or 100 shares so the fewer shares you buy, the bigger percentage that commission cost represents.
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  #47 (permalink)  
Old 06-07-2016, 12:11 PM
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Originally Posted by disneysteve View Post
You can certainly buy any stock you'd like through your broker.

Phillip Morris is actually a division of Altria, ticker symbol MO.

There is generally no minimum on how many shares you can buy unless your broker imposes one. Just keep in mind that the commission is generally the same whether you're buying 1 share or 50 shares or 100 shares so the fewer shares you buy, the bigger percentage that commission cost represents.
Thank you! I'll reach out to my broker and see if there are any stipulations.
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  #48 (permalink)  
Old 06-07-2016, 03:08 PM
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Originally Posted by TexasHusker View Post
What about a car manufacturer, whose carbon emissions are killing all the polar bears?

Or a beer company - how many people are killed by drunk drivers each year?

Or Nabisco, who is a major contributor to obesity with Oreos and the rest?

Or a Pest Control manufacturer, which puts chemicals in a bottle that kill people every year?

Or a clothing manufacturer, which imports shirts made in child labor sweatshops overseas?

Or WalMart or Target, which sells all of the above, presumably for big profits?

Or a for-profit hospital chain, which is practicing "rape and pillage" with its billing to thousands of customers, to the point of putting liens on property (which they are entitled to do) to satisfy bills that are marked up 10,000 percent?
What about them? None of those are products designed to addict the user to a toxin.

Watch a loved one slowly suffocate and die prematurely from emphysema caused by smoking cigarettes and then we can discuss the matter from a common frame of reference.
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  #49 (permalink)  
Old 06-07-2016, 03:12 PM
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Originally Posted by Jbone View Post
Thank you! I'll reach out to my broker and see if there are any stipulations.
MO is Philip Morris US operation.
A while ago Philip Morris split into 3 companies: Kraft, Altria, and Philip Morris international. It was a famously shareholder friendly move that increased value immediately.
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  #50 (permalink)  
Old 06-07-2016, 03:27 PM
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Watch a loved one slowly suffocate and die prematurely from emphysema caused by smoking cigarettes and then we can discuss the matter from a common frame of reference.
Ditto on that. But whether or not my mother in law died coughing up a lung, it was the most consistent dividend paying stock I ever owned.
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  #51 (permalink)  
Old 06-07-2016, 04:19 PM
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Ditto on that. But whether or not my mother in law died coughing up a lung, it was the most consistent dividend paying stock I ever owned.
Really? And you feel it is a worthwhile product? Something you would like to invest in? Enjoy.
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  #52 (permalink)  
Old 06-07-2016, 06:54 PM
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A good friend of mine retired quite young and is sitting pretty good from his career at Phillip Morris. People buy tobacco products because they enjoy tobacco. They know it's harmful with long term use and don't care.
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  #53 (permalink)  
Old 06-07-2016, 08:05 PM
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Really? And you feel it is a worthwhile product? Something you would like to invest in? Enjoy.
Sure, because other people smoking and dying young is good for us, since they don't linger into their 80s. OTOH, non-smokers like us live longer, thus requiring other forms of expensive care which in total cost more than smokers.
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  #54 (permalink)  
Old 06-13-2016, 11:30 AM
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I read that but the bruno couple my issue with them is that they don't pay for health insurance. They feel they can self insure with just $1m and that's it. I guess maybe because they are canadian and can always move back to canada. but personally I would be a little nervous with their plan.

FIRE? we're doing something like it now and i don't think we have enough, but that's just personal thoughts. I think that buying your own insurance is tough and we have minimized going to the dr because of it and we have HDHP. It's just that everything is not covered and so expensive and our budget would be blown out of the water easily. Plus pharmacy isn't covered and dental we don't have. So at least for us with the worry obamacare will be repealed and then we wouldn't even have the opportunity to buy health insurance is real.
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  #55 (permalink)  
Old 06-13-2016, 11:44 AM
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Originally Posted by LivingAlmostLarge View Post
FIRE
Finance, Insurance, Real Estate?
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  #56 (permalink)  
Old 06-13-2016, 11:48 AM
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Originally Posted by Nutria View Post
Finance, Insurance, Real Estate?
Financial Independence Retire Early
Nutria likes this.
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  #57 (permalink)  
Old 06-13-2016, 07:59 PM
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19 years, we could likely retire a few years before that at the desired level of savings but my wife would be walking away from a lot of federal benefits retiring before that.
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  #58 (permalink)  
Old 06-13-2016, 11:25 PM
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I've been looking at our numbers again and again. I can actually retire at 55 years old because of my CalPERS pension. My wife will still be working FT. If i retire, i can find work find part time, or volunteer at school until my wife is FIRE ready. The biggest expenses how close are we paying off our home. If we can pay it off at 55 year, I might stay another year or two just to work to keep as much CASH before officially FIRE.

The good news we wouldn't need to touch our tax deferred investment until age 70 especially with wife's expected pension + SS at 62.
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Last edited by tripods68; 06-14-2016 at 08:53 AM.
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  #59 (permalink)  
Old 06-14-2016, 06:42 AM
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I'm on track to retire at 53 after 30 years. My school loan debt will be paid off/ forgiven in 9 years, and my mortgage is going to drop by $200 as well. Then, I plan to pay off the mortgage within the next decade. My current financials to date, what suggestions should be made.

Savings: 12K
403b 1: 20K (No longer contributing per company rules)
403b 2: 50K (Currently contributing $500 per month)
Calstr:110K

No credit card debt

Monthly take home: $4188 (based on base salary after all deductions) worst case scenario.

Reality: The last 13 months, I took home $5200.

Mortgage: $1500/ Hoa $395 (owe 205, value 410 K)
Car: $423
Student Loan: $465
Car insurance: $138 Food: 300 Gas: 110 Gym: 170 Electric: $17 Cell: 110
Aflac disability: 165 Life insuance:33 vacation fund: 150

Upside at retirement my job provides lifetime health benefits .....I'm expecting to bring home 4K a month from retirmet + 1K from 403b distribution.
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  #60 (permalink)  
Old 06-14-2016, 08:03 AM
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Originally Posted by Petunia 100 View Post
What about them? None of those are products designed to addict the user to a toxin.
You dont think anyone has an addiction to alcohol? To food/sugar? You may want to rethink your statement.

Its no secret that tobacco is addictive. People continue to do it. Thats their problem. Both of my grandparents died from lung cancer. It is what it is. At least they died doing something they loved.
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