HawkleberryFinn
Well-Known Member
Nate Stanley's a good kid, from a good home. Modest.
Howe: Setting the Record Straight on Oliver Martin
- Thread starter RobHowe
- Start date
Fryowa
Administrator
Mine is in business administration, and if I’m being honest the biggest way that degree helped me was that I put an emphasis in my own life on TVM, 1) which a lot of people unfortunately don’t understand, and 2) isn’t directly related to the job I have.
My favorite prof probably said 100,000 times in the two years I had him, “a dollar today is worth more than a dollar tomorrow,” and very few people actually take that concept to heart. My brother is 37 (I’m 38) and despite my pleadings he has not started a 401k or invested a red nickel. Not a fucking cent. He says he “can’t afford it.”
I started my 401k when I was 22, and making mid to upper mid 5 figures I will have $650K when I’m 65. In NW Iowa for a guy with within my means (all I want at retirement is a new pickup and a small fishing boat...no RVs, snowbirding, or world travel), that 650 will last me just long enough that I can be comfortable and have fun before I start shitting my pants and I won’t have any left to give to the mursing home.
If anything I am smart enough to not heed the “Edward D.Jones” advice that I need $2M to last me till I’m 95 years old.
I hope to have ten good solid years from 65 to 75 to blow that whole 650 in its entirety and then ol’ Fryowa is gonna half heartedly ride off into the sunset according to statistics.
My brother on the other hand is on blood pressure and cholesterol meds already and at 62 he will be struggling out of the gate to make his social security check stretch far enough to cover his pills and apartment rent. It’s sad as hell but I’ve counseled him as much as I can. He doesn’t listen and there isn’t shit I can do anymore.
WinOneThisCentury
Well-Known Member
Ever consider a new career as a retirement planner? You would scare the shit out of people...they'd save like crazy. You would be very successful.
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I
Ian Pike Hammer
Guest
I don't doubt you a bit kind sir. He also has a career completion percentage of 59%
In case you were wondering why no senior WR and why ISM, B. Smith, and Copper did not have the luxury to RS, here are the WR recruits while Kennedy was WR coach (listed in order of descending recruiting ranking from 247 sports):
- 2013: Willies, Derrick Mitchell, Damond Powell (juco, only 2 years eligibility), Andre Harris, AJ Jones, MVB
- 2014: Scheel
- 2015: Jerminic Smith, Emmanuel Ogwo, Adrian Falconer
- 2016: Manny Rugamba (247 listed him as WR), Devonte Young
Career Iowa production of 2013-2016 recruiting class WRs, excluding MVB:
57 catches, 899 yards, 8 TDs
MVB career production:
134 catches, 1686 yards, 10 TDs
Maybe KF should have listened to Morgan more than Kennedy re: Oliver Martin.
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Career stats appendix:
Willies: 4 for 71, 1 TD
Powell: 19 for 317, 5 TD
Scheel: 5 for 56
J. Smith: 29 for 455, 2 TD
All those not listed did not have a career reception.
Derrick Mitchell, Jr. had 21 for 165, but I believe all from the RB position (also 27 carries for 174 yards, 3 TDs)
hawkeyebob62
Well-Known Member
To be fair, Rob, much of what you wrote in that article had already been covered by you in previous columns, posts, tweets, etc. I agree in a sense that your article didn't tell us "new" as much as it encapsulated all the info in one article, which is a good thing, IMO.
The podcast is a bit over the top. Talking about "sharting" and (of course) the "shart-that-got-away". I do a live internet-based radio show on "politics in sports", so I have to always be of the mind, "This could piss someone off", so I choose to be careful, for the most part. I rip "public figures", I rip myself and anonymous friends (in a nice way), but I know NEVER to rip into a caller, or to rip on another host on the same network/platform. It simply isn't wise.
hawkeyebob62
Well-Known Member
One need only look back to the practice films with James Butler and Akrum Wadley. Butler was a recently-arrived grad transfer. He would, no doubt, be taking carries from AW. Yet, all you saw was teammates encouraging their other teammates, praising and reacting to the good things they saw on the field. My guess is that OM supposedly smiling and visibly enjoying his recent visit(s) is an indicator that he can easily fit into the team culture.
In the end, it doesn't really matter why he decided to transfer. And it's pretty telling that he chose Iowa, given that we have heard that others reached out to him (ND, O$U, et. al.). It's quite possible he gave inkling to his parents/family that he wasn't feeling "all-in" at Michigan, and they may have said, "Yeah, we've noticed, and we don't feel it when we go up there, either". It doesn't mean they didn't love the place, but maybe just loved it a little less than they thought they would.
hawkeyebob62
Well-Known Member
As a small business owner (I chose it, not bitching), I haven't had the most disposable cash/easiest time planning for retirement. Hell, 80-90% of my time is spent on stuff that is almost no benefit to me. But, I chose it, and i enjoy it most of the time. But I finally sat down with the wife (who has 401-Ks from multiple employers) and said we just have to. It may be tough some years, but we have to do the separate IRA thing. We just don't know what's over the next hill any given year.
JoeyLabasForPresident
Well-Known Member
Pay yourself first. $500 per month each is all you have to do to max a Roth. Everybody should be doing this their entire adult lives. Assuming you get two paychecks a month (Obviously not necessarily applicable to you) the first $250 of every paycheck should be going into a Roth if you are working full time. $500 per month (The current maximum annual contribution is $6000) over forty years at an annual return of 8% (This is low if you’re simply doing an S&P Index Fund) results in 1.77 million tax-free dollars, with only $240,000 in total contributions. That jumps to $3,227,924.49 at a 10% annual return. This is before factoring in any additional dividends. And this is with only one of you contributing. Double that for the both of you. Start this month with $1000 per month and you can max out your contributions for 2019.
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Northside Hawk
Well-Known Member
If your brother's company is like most (and you already know this) the "I can't afford to invest" excuse carries absolutely no weight. If you gain zero return on your investment, you still come out ahead in the long run because your taxable income is lowered and the company matches a percentage of your contribution.
And that doesn't even take into account what I call "reverse compound interest", where an accrued nest egg makes money off itself. He can also, in many companies, take out a loan against his 401k in time of dire need and pay himself back. Again, you already know all this. The challenge is convincing your brother.
Northside Hawk
Well-Known Member
It's amazing how much of a difference ten years can make. If Peter starts investing at 25 and Paul starts at 35, and everything else is equal, Peter's nest egg at retirement are will probably be five or even six figures larger, simply by getting started ten years earlier.
It's those last ten-fifteen years before retirement age that a typical nest egg really kicks into gear. And where getting started early really pays off.
It's those last ten-fifteen years before retirement age that a typical nest egg really kicks into gear. And where getting started early really pays off.
RobHowe
Administrator
So I listened to the WUWO pod. While there was some value in the discussion about rising transfers and how transfers need to earn respect in the locker rook, it was mostly a sophomoric conversation with them making assumptions about a person and a situation they know nothing about. It sounded like a group of recently graduated frat guys standing around a keg talking shit.
#1DieHardHawk
Well-Known Member
GotTimDodge
Well-Known Member
Drake is pandering to his gung-ho podcast listeners.
And being a former player, he knows he can always fall back on the "locker room code" excuse to cover up stupid things he says.
Unfortunately for Drake, it doesn't sound like the players share his opinion.
Nice write up.
And being a former player, he knows he can always fall back on the "locker room code" excuse to cover up stupid things he says.
Unfortunately for Drake, it doesn't sound like the players share his opinion.
Nice write up.
HawkleberryFinn
Well-Known Member
Howe’s on the high road, Drake’s in the ringer
Drake’s self-control like the same-named singer
Walkons need QC and a new coat of lacquer
Sound like phi delta kappa in a drunken game of cracker
Drake’s self-control like the same-named singer
Walkons need QC and a new coat of lacquer
Sound like phi delta kappa in a drunken game of cracker
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HawkleberryFinn
Well-Known Member
Oliver Martin will be the next Quavon Matthews.
Fryowa
Administrator
I understand the sentiment and agree with the premise, but that's not feasible for many people. I'm a single income and $500 a month in addition to my 401k contribution isn't an option. Could I make that sort of deposit every month? yes. Would it scrimp in my day to day operations? Yes.
There has to be a balance between your present quality of life and your future one. Financial planners won't tell you this, but you don't need to plan for retirement until your 80 or 85. That's just a bunch of bullshit they tell you to pad their monthly fee reporting to EDJ and get their quarterly golf outings and cruise packages once a year. Financial planners are nothing more than Amway salesmen shoveling bullshit in people's mouths with a grain scoop. They rely on 3 things.
1) Instilling fear in clients. "If you don't have $5M left when you're 98 years old whatever will you do, Mildred? You don't want to be out on the streets at age 99, do you, Mildred?"
2) Instilling guilt in clients "What's that Bill? You learned in college that no-load index funds out perform actively managed funds because my fees wipe out any additional gains you might see? What, so you're saying my services aren't worth anything to you?"
3) Clients' ignorance. See #1 and #2 above.
Statistically most working people are going to have about 10 years to enjoy retirement (assuming at age 65) before their minds and bodies start to fail them and then all that money they worked their whole lives to squirrel away starts going to the nursing home, etc. Some a few less and some a few more. The benefit of leaving it to kids is debatable in my opinion (maybe not others), because if you were able to save $3M, so should your kids be able to. People need to realize that just like interest, an economic unit of enjoyment is worth more during years where you're lucid and in good physical shape than it is when you're shitting the bed and eating steamed peas.
To me retirement should be a zero sum game. All I know is that if I die with more than a few thousand bucks in the bank then I worked too hard and sacrificed too much during my working years for no reason.
hawkeyebob62
Well-Known Member
I guess it depends on the offspring situation, maybe? Are you saying you don't want your son to inherit any actual cash? Or, maybe, that it's up to him to earn his own cash, but he can have your house, car, and fishing gear?
I used to worry that our daughter wouldn't "get" anything from us when we are both gone. But, she does just fine on her own, so why should I plan for her future? Is that it, basically?
I freely admit being in a family business has not been a rousing success. Sometimes I feel grateful just getting to the end of the month. That's on me, of course. If I really took the time to work ON the business, and not IN the business, things would probably be different. But that also may involve a level of risk I don't feel secure enough to take. And I wouldn't wish the business I am in on any family members, that's for sure.
Fryowa
Administrator
To me, if my son even has a tiny bit of regret or resentment about an inheritance then I haven’t done my job as a parent, which is to be the best teacher and friend I can be, and to show enough love that he 1) feels loved, and 2) learns that love (in whatever form he interprets it) is something he needs to pass on to his own friends/family/kids.
My folks both died at 57 before I turned 30, and they didn’t have shit. When my dad died my brother and I split the $1,400 funeral home bill because my mom couldn’t afford it, and when my mom died there was enough in her checking account to cover the funeral home, a $125 bill to a car dealership she owed for tires, and $10.05 left over which is still in a box on my dresser. Had no other debt. Where I’m going with this is that when they died I was a young guy with nothing to my name and a little son, and I literally never thought about an inheritance or how much money they had. It 100% never crossed my mind, even though if they had, say $350k it would have set me up for anything I wanted to start out in life including buying a car, house, and paying off student loans. It simply wasn’t even a fleeting thought.
I loved my folks and was both sad about the situation and glad I got the years I did. Even though they weren’t extravagant I was happy and always felt like somebody cared. And that—that’s all my kid needs. He’ll probably get something from my retirement when I croak as well as my house and possessions, but it’s not something I’m conscious about.
My cousin’s mom was loaded and a couple years ago she was in hospice. I overheard this cousin and her husband talking about how to ask how much money her mom had and what they planned to do remodeling their house with it when she died. My life was and is better than my cousin’s even thought they have a $70,000 Suburban. F ‘em.
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hawkeyebob62
Well-Known Member
Totally agree on feeling loved and cared for. I had the absolutely best parents. My brother and sisters agree. I could not have cared less if I had gotten $1 or $1 million. I'd much rather have had them around longer, even though neither one suffered long-term, health-wise. They suffered enough when my older brother died, they didn't need their own physical suffering.
