07-24-2016, 10:45 AM
Alright, I drive myself and I'm sure some people around me nuts too. When I get rolling a little OCD takes hold until the goals are accomplished.
I've been trying to cut costs and save more, trying to instill some restrictive covenant ideas with the wife, so that I may possibly leave my current job and do something else. Something that I want to do rather then something I have to do. I'm not going to lie, if I don't take the bull by the horns I will never ever be able to retire, my wife will not be able to retire and that's why I'm constantly monitoring our plan and look for ways to improve it. My wife trusts me 100% and I trust myself about 75%; although, I trust myself 100% over an outsider managing our investments. I've seen too many things go wrong with others, co-workers, friends, friends of friends and, unfortunately, even family members using "Financial Professionals." Unless it's a "Fee Only" CFP I will not be using one in life. What I'm saying is that sometime in life I will be meeting a Fee Only CFP, when the time is right. And yes, I have done some research on the ones available in my area but I have other things to get in order before I go that route.
The biggest long term cost cutting at the moment is going through a Refi on our mortgage, dropping to 3.37% from 4.62% will put about $250 a month in our pockets. This process is not complete, just started actually.
Going from Sprint to ProjectFi for cellular service (end of October 2016) will put about $50 a month in my pocket. Yea, my pocket, because the wife will not LEAVE Verizon! I joke with her that in another 5 years NOBODY will be able to get a hold of me, lol. I'm really excited about trying this service, it's a different take on wireless service. It uses a combination of three wireless carrier partners and WiFi. I'll miss loosing the Apple iPhone and going to a Nexus (Android) but $50 bucks a month is $50 bucks a month. Sorry Apple.
So, that's about $300 per month in savings. That's almost $3600 per year put to work. I say almost, because I don't know the actual numbers but it's close and that's what matters.
Two moves I made on the investment arena is cash and moving funds. I have 25% in cash while the rest is in the market. I'm not stopping investing or even waiting on the sidelines. We all know we are in one of the greatest Bull runs in history. And what does history tell us? All good things come to an end, it's inevitable, this Bull market will end. Who knows, maybe I'm early on this but that's why I will not just sit on the sidelines, but having the cash makes me feel more confident and secure in my decision making. I've gone through two big market down turns and both times I WISHED I had cash available, this time I will have the cash.
The other is moving all of my accounts to Fidelity (I'm doing this Monday). I love Vanguard and it's been a great 18 year run but Fidelity, as an individual investor focusing on DGI, has better tools. It will also be beneficial having my 401K, Traditional IRA (established by a recent non-taxable in-service transfer), ROTH IRA and the brokerage account under one umbrella.
That's about it for now...
Any of you guys cost cutting or making moves?
I've been trying to cut costs and save more, trying to instill some restrictive covenant ideas with the wife, so that I may possibly leave my current job and do something else. Something that I want to do rather then something I have to do. I'm not going to lie, if I don't take the bull by the horns I will never ever be able to retire, my wife will not be able to retire and that's why I'm constantly monitoring our plan and look for ways to improve it. My wife trusts me 100% and I trust myself about 75%; although, I trust myself 100% over an outsider managing our investments. I've seen too many things go wrong with others, co-workers, friends, friends of friends and, unfortunately, even family members using "Financial Professionals." Unless it's a "Fee Only" CFP I will not be using one in life. What I'm saying is that sometime in life I will be meeting a Fee Only CFP, when the time is right. And yes, I have done some research on the ones available in my area but I have other things to get in order before I go that route.
The biggest long term cost cutting at the moment is going through a Refi on our mortgage, dropping to 3.37% from 4.62% will put about $250 a month in our pockets. This process is not complete, just started actually.
Going from Sprint to ProjectFi for cellular service (end of October 2016) will put about $50 a month in my pocket. Yea, my pocket, because the wife will not LEAVE Verizon! I joke with her that in another 5 years NOBODY will be able to get a hold of me, lol. I'm really excited about trying this service, it's a different take on wireless service. It uses a combination of three wireless carrier partners and WiFi. I'll miss loosing the Apple iPhone and going to a Nexus (Android) but $50 bucks a month is $50 bucks a month. Sorry Apple.
So, that's about $300 per month in savings. That's almost $3600 per year put to work. I say almost, because I don't know the actual numbers but it's close and that's what matters.
Two moves I made on the investment arena is cash and moving funds. I have 25% in cash while the rest is in the market. I'm not stopping investing or even waiting on the sidelines. We all know we are in one of the greatest Bull runs in history. And what does history tell us? All good things come to an end, it's inevitable, this Bull market will end. Who knows, maybe I'm early on this but that's why I will not just sit on the sidelines, but having the cash makes me feel more confident and secure in my decision making. I've gone through two big market down turns and both times I WISHED I had cash available, this time I will have the cash.
The other is moving all of my accounts to Fidelity (I'm doing this Monday). I love Vanguard and it's been a great 18 year run but Fidelity, as an individual investor focusing on DGI, has better tools. It will also be beneficial having my 401K, Traditional IRA (established by a recent non-taxable in-service transfer), ROTH IRA and the brokerage account under one umbrella.
That's about it for now...
Any of you guys cost cutting or making moves?