Bruns Berring

Finance and philosophy.

[Bruns Berring @brunsberring31]

@notCloutbay Pretty pretty BS.

[Bruns Berring @brunsberring31]

@MrNQDC 100%

[Bruns Berring @brunsberring31]

@s_kirton @DanielTurnerPTF Or my wife’s boyfriend.

[Bruns Berring @brunsberring31]

@Humanoholic The Prestige
Lord of the Rings
Minority Report (!!!)

[Bruns Berring @brunsberring31]

You pay the same tax rate to put it in either a cash account or a RIRA, but your growth is taxed in a cash account. You've got enough to retire early - why would you give up the tax free growth?

Brokerage accounts are great, but dont miss out on tax advantages in the meantime. Rule 72(t) allows penalty free early access.

[Bruns Berring @brunsberring31]

@ElijahColeman21 Rule 72(t) allows early access.

[Bruns Berring @brunsberring31]

It saves a fortune on interest but costs a bigger fortune on interest you could have received.
If you have money to pay extra on a mortgage, you could be investing it instead. If you invest in HYMM or treasuries, you can always withdraw and pay down your mortgage, with extra interest that you earned.
It's okay to say that it feels good to pay down, but dont delude yourself that there's no financial cost.

[Bruns Berring @brunsberring31]

@wbridgefa @cpurkiser Feelings over finance

[Bruns Berring @brunsberring31]

@The_Boba_Fed @BakerBarbell Feelings over finance!

[Bruns Berring @brunsberring31]

If you really can’t control yourself- any money in your account must be spent- then Dave’s your man. I have a buddy who scrimps and saves - disciplined guy despite very average income- who follows Dave’s advice to the letter. No credit card, actively managed mutual funds, no mortgage. It breaks my heart to see him making bad decisions because Dave told him to.

[Bruns Berring @brunsberring31]

@therealTMac11 @BowTiedBull Nevertheless, 4.5% * (1-25% tax) - 3% * (1-25%) = 1.125%. And you keep the liquidity.

When you follow Dave's advice, you make a banker's day.

[Bruns Berring @brunsberring31]

@FNU_MNU_LNU1 @BowTiedBull Debt is a hedge against inflation. In a high inflation environment, it's even better never to pay off the debt.

[Bruns Berring @brunsberring31]

@wittmer0313 @ragingbullcap @jamesrusso87 @BowTiedBull Yes - I know people who have paid off their debt feel good about it - no argument with this. But they pay a financial cost and lose liquidity to do so. Surely you understand this?

Questioning that tradeoff is not a "misunderstanding".

[Bruns Berring @brunsberring31]

@ragingbullcap @wittmer0313 @jamesrusso87 @BowTiedBull You won’t convince Ramsey people with math. All the replies will be “yeah, but I got good feelings from being debt free.” Ramsey should not program people to prioritize feelings over wealth.

[Bruns Berring @brunsberring31]

@blitzpax1 @BowTiedBull And give up liquidity?

[Bruns Berring @brunsberring31]

@ShaunBlair @BowTiedBull You don’t get it.

[Bruns Berring @brunsberring31]

@remibrc This is a load of crap. You couldnt trade your way out of a paper bag. Dont believe the bot farm.

[Bruns Berring @brunsberring31]

@skasol @shaguncrypto @Paul28730 Don't listen to this guy - equities go up and down. Expecting a 7% average return is reasonable. Expecting a 7% "consistent" return is foolhardy.