I thought it might be prudent for us to read Chuck's new book, what with WOM 5 coming up and the Election in November. Too bad Huckabee didn't last longer or we might have seen more of Chuck this fall.Brandon, Sorry I missed your birthday post, Happy Birthday.
Seth, you fell to Cookeville High. I hope your boys avenge you one day.
Kevin, I'm using Chrome so that people like you will think better of me.
Justin, I already have my insurance with State Farm. My father-in-law is an agent. If there's a falling out, I'll come to you.
Ross, I enjoyed the premiere of the Office. Each time I see Jim I think of you.
Andrew, how many days left? Congratulations, again. The strangest thing about the whole deal will be that you will go into the hospital as two and leave as three.
Aaron, index funds, broadly diversified.
Adam, Thanks for eating with me at Chili's that night. I passed the CFP exam!
I'm all for mixing things up with a format change. Maybe we could create individual profiles for each of us, or just use the old profiles from the headhunters site.
48 comments:
I would "Search Inside" this book on Amazon, but I am afraid of what I would find.
Landon, we're looking at a little less than 5 weeks to d-day.
The doctor said Laura should have a bag packed from now on when we go for checkups. Kinda makes the whole things seem real now.
That and the stroller I put together this weekend. Look at me doing "dad" things now!
Attention all spin-off blogs:
Good job on updating today.
I did look on Amazon books and chapter 5 covers how to break a podium with your bare heads to get people to pass legislation. Bush didn't get to that chapter before the bailout vote.
Index funds? No, Warren Buffet strategy - buy good companies at the bottom. Too bad we don't have the money or time to do that...Ednafund, how bout it Landon?
Great. All blogs have updated content? Between the new posts, new comments, and my adding to the comments, I'm not doing any work today.
I love all you guys.
Brandon,
"EdnaFund"
We could totally do that, it's called an investment club. Everyone could contribute x dollars monthly, we could all offer thoughts on the investment, WOM could be our annual meeting. Just a thought.
As for your Warren Buffet comment, his approach is fine, if you are Warren Buffet. If you aren't Warren Buffet, which no one else is so far, even he says index type funds.
Anyway, investment club, I'm sure Aaron would be on board.
I vote yes to the EdnaFund. Set it up, Landon Douglas Vick, esq., MBA, CFP, XYZ, PDQ
in
If all 9 of us contributed $20/month that would total $2160/year.
Landon, use your magic investment numbers to give us what that money would be in 20-30 years if the market averaged 12%/year (like it has since the inception of the Stock Market, although we're all losing money right now.)
Random thoughts:
Why does Chrome mess up all my downloads. I can't open anything up.
I made a few small changes to the sidebar on the right. Mainly jsut removed some stuff and cleaned it up a little.
Does anyone else have any blogs/or picture sites that they want linked on here?
It is not even noon and the comments are flying today...on record pace???
This afternoon we are having a resident gathering at the bowling alley. I guess to build morale. I love these days when work is so tough :)
It does appear we are all working very hard today...and Kevin has been the only one not to comment. I guess they are controlling him with a short leash.
I will get a 'pole' up soon for changes for the blog.
Aaron,
How is Chrome messing them up? I haven't had that issue yet.
Bowling IS tough. Hopefully you'll have time to watch the Big Lebowski before you go. I love that movie.
Do we really need $2,160 a year for WOM? I'm just sayin....
I'm in for the investment idea.
And JD, I don't think the $2,160 would be for WOM activities but that money would be invested and we would all make crazy money on it. WOM would be like a board of directors meeting right after Man-Share.
Of course, most of the meeting would be us listening to Landon give a PowerPoint presentation on growth funds and oil futures.
We could have WOM XXV catered....
..in Hawai'i
Andrew, here's the run down:
$20/month per man
30 years
12% rate of return
$635,384.48
=70,598.27 per man
If we ponied up 50/month per man
$1,588,461.20
=176,495.69 per man
Wow, I miss one day, and now we are putting together an investment group. I am in! (as long as the monthly deduction from my paycheck is consiterate of the fact that some of us are on a single government issued income).
Andrew - WOM will never be catered, it would then cease to be WOM. I am all for hawaii, or Figi (one of those huts over the water with a glass floor). But wherever we are I want to be eating monkeybread, hotdogs, strouds BBQ, etc.
Jones,
The food shouldn't be a problem, with our own chartered jet.
Sup heauxs. I've been busy with work so I haven't been on much. I'm in on the investment idea. And let's see the Watson's girl turn us down when she finds out this time she'll be serving us food on a certain island in the Pacific. Granted by then she may turn us down because of her arthritis.
When there is that much weight up top you are bound to have back problems...
Aaron, at first I thought you were being metaphorical about the current problems on Wall Street, which if you think about it, your comment fits.
Then I realized you were talking about the Watson's girl.
Anybody watch House last night? Dr. Gray you'd better hope you never have a patient with a "bezoar" because it is nasty.
Looked like that guy swallowed an entire tin can.
Has anyone seen the show "The Mentalist"? It is pretty good and comes on right after House on CBS.
With that money we could buy a central location in which we could go anytime. Multiple WOM, but only one with contest. The place could have a pool, lake, fountains, shooting range, regulation flag football field and pay some scrubs to play against.
That would be beast.
UNtil THen,
Yes, I saw the Mentalist pilot but I missed it last night. It was pretty good. I'll have to DVR it though because it comes on at the same time as Fringe.
Fountains?
Like soda fountains?
Or throw a dime in there fountains
So I did some reading (googling) on investment clubs. They are basically partnerships. Am I right, Landon. We always said we'd go into business together...here's our chance.
Yes Soda. Code Red and Coke.
and Faygo....from the Dog House
Landon,
Tell me where to send my check.
Ross, only payroll deduction accepted in the EDNA Group LLC.
I'm on it guys.
We'll need to elect officers, complete paperwork, and may have to come up with more money for an initial deposit. I'll look at the different discount brokerages for the best deal.
Is everyone agreed on EdnaFund? Should we start a poll?
Yes, Andrew, this is like a partnership, everyone's contribution to it will determine their proportional share of the fund.
Our next step may need to be a conference call...
I'm in. How much startup do we need?
House? Did anyone watch the PBS documentary on the nation's water infrastructure last night? Yes, I am that cool.
Seth,
I'm down with direct deposit. And I like the fact you put LLC on the end of the name. Makes it all that more official.
Landon,
Let me know what you are expecting for the initial upfront investment. By selling my hopes and dreams to the "Man" I've got a little more coin in my pocket, just a little less of my soul.
B,
National water infrastructure huh? You are one crazy mofo.
Ross, what did you sell?
"his hopes and dreams"
Well what would those be and why did he sell them?
I think what he is saying is that instead of doing what he really wants to do (train tigers) he gets up and goes to a 9-5 everyday. Less soul, more coin.
Ross,
Great decision. Like my Dad always says, "You can't deposit hopes and dreams into a brokerage account."
I never heard your dad say that. But, Doug is a bright man so I'll let it slide.
I need to find a way to make more money, so I can contribute.
IMO we would need at least 2000-2500 to make a purchase considering commission costs. Otherwise the percentage of the commission eats up your gain.
That is unless Landon has another alternative.
e-trade
etrade is 13 a trade but they also stick it to you with $40 fee a quarter after the first year if your balance is under 10 grand
I'm leaning toward Charles Schwab. Trades cost the same for stocks and we can eliminate any other fees by establishing our direct deposit.
I agree with you Aaron that a stock purchase needs to be significant to keep commissions from eating it up. In the meantime Schwab has thousands of mutual funds that have no transaction fees or commissions. That could get us in the market and over the commission hurdle.
Schwab is sending me all the paperwork for an investment club and I'll let you guys know what the next step will be. For all us us to have our accounts setup to draft into the brokerage account we will likely need everyone's signature. We'll figure it out. Before too long the EdnaFund will be featured on CNBC. Have a good weekend.
Well done Red. So they actually make it easy for you to set up an investment club on there? Chuck is a genious. So we do need to make some decisions about how we are going to shape this thing up. Also how will it work for tax purposes?
Some basics I think we need to figure out.
1) Who all is for real interested?
2) How much are we going to invest and how often? Any initial contribution?
3) What is going to be our process for deciding to buy something? And what is our process for selling and how often do we consider that?
For tax purposes - every partner will receive a K-1 at the end of the year that shows all relevant info - interest earned, capital gains, fees paid, etc. Not too complicated.
Accountants can be so handy. Thanks, Stevens.
"Schwab is sending me all the paperwork for an investment club and I'll let you guys know what the next step will be."
I don't know about the "next" step, but I'm pretty sure step 3 or 4 is PROFIT!
For sure interested. I might have to get another roommate to cover Ednafund in the budget.
What step is "Uncles, Inc."?
I'm in for realsies.
Post a Comment