Enduro/AM - The Weight Game

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Enduro/AM - The Weight Game
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flag badbadleroybrown
Posted: Jan 7, 2022 at 15:21 Quote
Yeah, I'm not a big fan of managed accounts unless they're for someone who has no idea what they're doing or no interest in learning. In general, even the average person can match most asset managers' performance by just investing in the companies they know and use.
flag Circe
Posted: Jan 7, 2022 at 15:37 Quote
badbadleroybrown wrote:
Yeah, I'm not a big fan of managed accounts unless they're for someone who has no idea what they're doing or no interest in learning. In general, even the average person can match most asset managers' performance by just investing in the companies they know and use.

Vanguard's S&P 500 ETF has a .03% expense ratio. The five year return is 17.6%. 10 year is 14.80%. Last year it returned 26.46%. For the average person, I would argue a mix of low cost ETFs that track the major funds is damn hard to beat. It's not impossible, but it's not easy.
flag Tsoxbhk
Posted: Jan 7, 2022 at 15:46 Quote
seraph wrote:
Tsoxbhk wrote:
Given his most recent bike build something seems off. Even with a deal on AXS it is crazy expensive to not be saving for retirement and riding GX! 12 months at 75 a month is right around what an AXS dropper is retail!

Not sure I get it.

We all make financial decisions that affect us in the long run. Mine was to build a high end mountain bike and pay for it on a credit card. I'll pay it off eventually.

Oh damn buddy! I hope you can make it out of the hole! CC debt is super rough.
flag Axxe
Posted: Jan 7, 2022 at 18:59 Quote
Circe wrote:
badbadleroybrown wrote:
Yeah, I'm not a big fan of managed accounts unless they're for someone who has no idea what they're doing or no interest in learning. In general, even the average person can match most asset managers' performance by just investing in the companies they know and use.

Vanguard's S&P 500 ETF has a .03% expense ratio. The five year return is 17.6%. 10 year is 14.80%. Last year it returned 26.46%. For the average person, I would argue a mix of lost cost ETFs that track the major funds is damn hard to beat. It's not impossible, but it's not easy.

It is trivial to beat it nowadays. Buy same stocks on zero commission and harvest any losses. Adds one percent yearly of long term returns.

But then I am ducking lazy. All I do is add equally weighted index funds. And some TQQQ for added leverage. That thing did me very well. So far.
flag Axxe
Posted: Jan 7, 2022 at 19:07 Quote
Tsoxbhk wrote:
seraph wrote:
Tsoxbhk wrote:
Given his most recent bike build something seems off. Even with a deal on AXS it is crazy expensive to not be saving for retirement and riding GX! 12 months at 75 a month is right around what an AXS dropper is retail!

Not sure I get it.

We all make financial decisions that affect us in the long run. Mine was to build a high end mountain bike and pay for it on a credit card. I'll pay it off eventually.

Oh damn buddy! I hope you can make it out of the hole! CC debt is super rough.


I spent most in my life in debt and worried. Now I wish I spent more and had more fun. But then no one can guarantee shit.
flag gnarnaimo
O+
Posted: Jan 7, 2022 at 19:47 Quote
Suggestion to change thread title to: "Wallet - The Weight Game"
flag tom666
Posted: Jan 8, 2022 at 4:22 Quote
seraph wrote:
Tsoxbhk wrote:
Given his most recent bike build something seems off. Even with a deal on AXS it is crazy expensive to not be saving for retirement and riding GX! 12 months at 75 a month is right around what an AXS dropper is retail!

Not sure I get it.

We all make financial decisions that affect us in the long run. Mine was to build a high end mountain bike and pay for it on a credit card. I'll pay it off eventually.

Yeeesh. Playing a dangerous game here, particularly if you're not putting money away for retirement.

The redeeming factor is that because you work in a shop you no doubt got a pretty deep discount on the bike - and so if you sell it within a year or so you probably stand to get all your money back out.

Be careful man
flag seraph
Posted: Jan 8, 2022 at 11:42 Quote
tom666 wrote:
seraph wrote:
Tsoxbhk wrote:
Given his most recent bike build something seems off. Even with a deal on AXS it is crazy expensive to not be saving for retirement and riding GX! 12 months at 75 a month is right around what an AXS dropper is retail!

Not sure I get it.

We all make financial decisions that affect us in the long run. Mine was to build a high end mountain bike and pay for it on a credit card. I'll pay it off eventually.

Yeeesh. Playing a dangerous game here, particularly if you're not putting money away for retirement.

The redeeming factor is that because you work in a shop you no doubt got a pretty deep discount on the bike - and so if you sell it within a year or so you probably stand to get all your money back out.

Be careful man

I'm both inclined to keep it because bikes are hard to get (though that's improving) and inclined to sell it because I could easily make all my money back and probably some profit. It's annoying.
flag shoefanu
Posted: Jan 10, 2022 at 7:26 Quote
I remember I had a Norco Optic I sort of panic bought on the Cycle To Work Scheme, paid trade (obviously no actual numbers here) but it was too big, so decided to shift it about a month into Covid. Near enough got retail price on the thing when i sold it.

The one good thing about working at Evans was trade price. You never lost money on any bike you bought, ever. Shame they did away with it so they could profit from employees.
flag tomhoward379
Posted: Jan 10, 2022 at 7:31 Quote
‘I remember I had a Norco Optic I sort of panic bought on the Cycle To Work Scheme, paid trade (obviously no actual numbers here) but it was too big, so decided to shift it about a month into Covid. Near enough got retail price on the thing when i sold it.

The one good thing about working at Evans was trade price. You never lost money on any bike you bought, ever. Shame they did away with it so they could profit from employees.‘

So not content with paying trade, you got the taxpayer to fund a decent % of your purchase too? Then sold it at retail?

You’re welcome. Did you own it when you sold it?
flag shoefanu
Posted: Jan 10, 2022 at 8:02 Quote
The bike was paid off in full when I left the company. I rode it for 9 months, paid it off out of my last salary and ownership was transferred to me.

The only taxpayer that funds the bike on the cycle to work scheme was me. The bike comes out of your own salary to reduce your taxable income, so no, you didn't contribute to my bike. It's not a government hand out.

If you're going to point the finger, at least have a clue what you're talking about.
flag RMWB
O+
Posted: Jan 10, 2022 at 9:01 Quote
shoefanu wrote:
The bike was paid off in full when I left the company. I rode it for 9 months, paid it off out of my last salary and ownership was transferred to me.

The only taxpayer that funds the bike on the cycle to work scheme was me. The bike comes out of your own salary to reduce your taxable income, so no, you didn't contribute to my bike. It's not a government hand out.

If you're going to point the finger, at least have a clue what you're talking about.

Any tax deduction is reducing your tax burden by shifting that "cost" to the rest of the tax paying public. However, unless you are committing tax fraud, that's something the tax base has agreed to pay for by electing the representatives in government who enacted such policy.
flag tom666
Posted: Jan 11, 2022 at 2:57 Quote
Can't blame guys who work in bike shops and make low 20s (for what is actually a pretty skilled job) for getting a good deal on a bike (pretty much the only perk of the job) and taking advantage of the cycle to work scheme - which is available to pretty much everybody.

The cycle to work scheme reduces your individual tax bill because your payment for the bike comes out of your salary pre-tax each month and reduces the amount of your salary that's over the tax free allowance, saving you money on your own taxes.

If you earn a low salary you save perhaps 20% income tax and about 8% national insurance or so and so effectively get about 28-30% off the bike in tax savings.

If you earn more money and pay 40-45% income tax + national insurance you end up getting the bike pretty much half price or better.

So let's not come down too hard on shoefanu who works his ass off at Evans cycles for getting a deal on a bike. People who earn low wages are the people who need a deal on a bike, particularly if the bike actually is for transport/cycling to work. Do people who earn £150k + need a half price bike? Is it right that higher earners get a bigger discount % wise than lower wage people? I don't think shoefanu is the villain here
flag badbadleroybrown
Posted: Jan 11, 2022 at 6:47 Quote
Taxes are legalized, institutionalized theft.


I don't give a shit how much you make, take advantage of EVERY tax break or reduction or deferment or shelter you possibly can and do not ever feel bad about it.

 


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