How are your investments doing?

[ultrarunner]

My cousin's ranch easily is worth tens of millions in land, cattle and equipment alone. If you ever saw him, you'd think he was struggling to put fuel in his truck.

I worked in financial services most of my work life. People making tens of millions are not like the characters who do so in movies...not most of them anyway.

So true… just hang around Silicon Valley long enough will change a person’s perspective of rich…

That said family friend of grandparents and my dad was a generational owner of a very large Nevada cattle ranch and also prized Lake Tahoe holdings and you would never ever know it seeing him in boots driving his old beat pickup with a livestock rack in back…

 

[RSKY]

I have read that billionaires that actually drive themselves tend to own Toyotas and Ford F150s. One of the wealthiest people I have been friends with always made sure his wife had a new vehicle, and she really didn't care, but drove 10-20 year old cars or trucks himself. His wife finally got tired of Infinitis or Mercedes and got herself a Chrysler minivan. Drove it for years until he traded it in on a new one for her.

RSKY

 

[steve tym]

I'm going to buy some bitcoin. My advice to anybody that has it, sell it now. As soon as I buy it, it will fall for the next couple years, or finally be exposed as a Ponzi scheme.

 

[MossRoad]

I have read that billionaires that actually drive themselves tend to own Toyotas and Ford F150s. One of the wealthiest people I have been friends with always made sure his wife had a new vehicle, and she really didn't care, but drove 10-20 year old cars or trucks himself. His wife finally got tired of Infinitis or Mercedes and got herself a Chrysler minivan. Drove it for years until he traded it in on a new one for her.

RSKY

My wife always says "We need a car that's nice enough to drive to a funeral or wedding, and then your vehicle."

 

[CH4Ohio]

I have a open bid today at $15. All the conditions are right. The volume is a little light, but I'm ok with it. There is over 535K moving on the daily.

If it fills, I would put my first sell stop around 12.50

Was your open bid order good until cancelled, or only for the one day? Looks like MFI hit your target price on the following day -- did it fill?

I didn't do any deep research, but it does look like MFI is raising money and plans to invest heavily in crypto. Given your views on crypto, which I share, is that a concern for you?

Thanks in advance! I'm interested in following to the extent you're willing to provide updates.

 

[Snobdds]

Was your open bid order good until cancelled, or only for the one day? Looks like MFI hit your target price on the following day -- did it fill?

I didn't do any deep research, but it does look like MFI is raising money and plans to invest heavily in crypto. Given your views on crypto, which I share, is that a concern for you?

Thanks in advance! I'm interested in following to the extent you're willing to provide updates.

I usually leave them open for 5 days. It did fill at $15. I put a sell stop in at 12.50, 20% at risk. Lets see what it does.

The fall in Bitcoin has made for some opportunity in companies wanting to raise money to buy bitcoin while it's cheap. I still think bitcoin is a ponzi, but I will ride the wave through 3rd parties. I'm not holding this for long term, so their underlying long term strategy is meaningless to me. I am just chasing volatility.

 

[Hay Dude]

I have read that billionaires that actually drive themselves tend to own Toyotas and Ford F150s. One of the wealthiest people I have been friends with always made sure his wife had a new vehicle, and she really didn't care, but drove 10-20 year old cars or trucks himself. His wife finally got tired of Infinitis or Mercedes and got herself a Chrysler minivan. Drove it for years until he traded it in on a new one for her.

RSKY

That was in the book “The Millionaire Next Door”
The book itself was a fun read, but it was written in 1996, generations ago.
I’m sure some of what he wrote still holds true, but things have changed over the generations.

I have a friend who is a millionaire several times over. He drives really cool cars and has a million dollar boat we go out on, but he also built a school in Nigeria and gives money away to his 2 kids that are black holes and not even appreciative of him. He offers to “help” me all the time, but I refuse.

His life is a mixed bag, but he treats me like a good friend and I make sure to take him out a couple times a year. Sad thing is, he tells me everyone else in his life just takes his money and never shows any even small act of kindness in return.

I just view him as if he had no money at all. All he wants to do is rake hay for me and live a simple life.

 

[CloverKnollFarms]

We have 4 cars in the household. Ranging from a 1999 Mustang to a 2016 CRV. I personally drive 15-20 year old vehicles. They are more reliable than a lot of modern vehicles.

We spend less than $100/mo eating out and less than $400/mo on groceries. (3 person household)

On the surface our life looks very unremarkable. But I did retire very early, and both kids got fully funded college educations, and we don't owe money on anything... Haven't since 2014. But all people see is my 20 year old car.

So I do look "poor" I suppose. I mean I do have a tractor and 5 motorcycles... But aside from that, I'm sure on the surface, nobody would want my life. But they have to go to work every day.

Some people trade time for things... Other people trade time for freedom. I know numerous multi millionaires... And they look less wealthy than people who are broke. Lifestyle is financed in the US. Most of it is smoke and mirrors, not actual wealth. In the current economy, if you are trying to build wealth with wages, you are pretty screwed. If you have investments, you are killing it. You are either extracting wealth, or having it extracted. It's best to own assets that extract wealth, than to simply be one that it's being extracted from.

 

[CH4Ohio]

I usually leave them open for 5 days. It did fill at $15. I put a sell stop in at 12.50, 20% at risk. Lets see what it does.

The fall in Bitcoin has made for some opportunity in companies wanting to raise money to buy bitcoin while it's cheap. I still think bitcoin is a ponzi, but I will ride the wave through 3rd parties. I'm not holding this for long term, so their underlying long term strategy is meaningless to me. I am just chasing volatility.

Very interesting!!

My only brokerage accounts are at Fidelity and Schwab. I don't see an option to place a "bid order" at a higher price at either firm. There are "Limit" orders and "Market" orders, of course. A "Limit" order would immediately buy at the lower current market price. I don't see an option to wait until something goes higher and then buy at the higher price. Obviously I'm missing something . . . What platform do you typically trade on?

 

[California]

Maybe this should be in the Online Privacy thread but since the investment pros are here:

I found PlanVision investment advisor recommended in a Boglehead thread, and subscribed. I want a one-time study and model for spending down retirement savings. (which are still growing after 25 years retired).

I manually input our data to PlanVision's back-end eMoney modeling service. Then clicked on Fidelity's Retirement Planning and discovered Fidelity also uses eMoney for modeling. And my Fidelity data was already filled-in live in eMoney, as seen through Fidelity's portal.

Question - am I opening a path to get scammed if I set PlanVision to link to that live eMoney data? Or should I leave it set to my manual data entry - which shows a much less optimistic future based on that static data.

Comments? Has anyone here worked with PlanVision?