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#14236 |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $250477
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I just dumped 10K each into ULTY , NVDY, MSTY, CONY and waiting until declaration day to add 10K of IWMY. IWMY is going weekly in October
By Oct 1 I'll be on pace to receiving around 60K per year in dividends. I wouldn't play these with true retirement money as they do carry some risk but I have developed Rainmans passion for dividends and have gone all in. ULTY just declared their monthly dividend today at .9825 and the stock is at 11.25 ![]() I like YMAG for a stable dividend ETF too but don't own it because the Yield is only 50% ![]() XDTE is another stable fund paying weekly at a 30% yield ****ing dividends are like crack! |
Posts: 40,769
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#14237 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
Casino cash: $1838491
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1. Providing income replacement to raise minor children. 2. Providing income replacement for a spouse or other family members to meet their living costs (e.g., mortgage) and maintain their lifestyle. 3. Some people may want to create a windfall for their adult kids or other relatives. (This could be a large or small cost.) 4. Cover temporary costs for a working-age spouse who might need to take time off work to handle death issues, either logistical issues or grieving. 5. Cover funeral costs. If you're close to retiring and feeling good financially, I'm guessing that ... Items 1 and 4 aren't an issue. Item 2 may be an issue if you have a pension or Social Security that is vital for a spouse to be able to stay in the house and cover a mortgage or cover basic living expenses. Your call on Item 3, though that's highly optional. Regarding Item 5, I guess it's a guarantee that you can cover funeral costs if something really goes south and you get swindled out of all your money, or if you outlive your money. It's your call if that's more likely than the insurance company going bankrupt or something. My wife and I have 25-year term policies that should be expiring relatively soon. We have no mortgage, no kids, and adequate savings, and we're both more or less retired now. We don't have pensions, so the only income replacement that insurance would cover is our Social Security. Something really bad would need to happen for us to not have enough for funeral expenses, so I don't think there's much of a case for us to continue with life insurance once this term policy expires. The savings will also help us make sure our savings lasts longer. It's a pretty notable cost. I think my wife and I pay about $3,000 a year for life insurance, which is pretty big chunk of after-tax income. The one twist on this is long-term care. You can buy long-term care insurance, of course, but you only get a benefit if you go into long-term care, and that's not guaranteed to happen. However, it's guaranteed that we'll eventually die. If you've got enough money to front the costs of long-term care, a life insurance policy could pay back the surviving spouse for those costs if they occur. That's the concept that I've been pondering. If life insurance is cheaper than long-term care insurance (and I don't know if that's true), AND if you have enough money to pay for long-term care if it's needed, then I think this could be a good idea.
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Active fan of the greatest team in NFL history. |
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Posts: 142,638
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#14238 |
Spiraling down the Drain
Join Date: Oct 2012
Location: Dante's Ninth Circle
Casino cash: $1510588
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Bitcoin for the win.
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"We're both part of the same hypocrisy, Senator, but never think it applies to my family." "Fredo. You are my brother, and I love you. But never take sides against the Family again. Ever." 2019 Adopt a Chief - Travis Kelce #87 |
Posts: 32,234
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#14239 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $451900
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Yeah, today was fun as hell. Not sure how much more vertical the market can keep recovering from these dips.
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2024 Royals game thread record 3-0 |
Posts: 46,060
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#14240 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $834734
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So anyone following the building war between retailers and credit card companies?
Apparently retailers are sick of paying CC fees. Which makes sense. No place is charging extra for credit card transactions vs cash. I Think there are laws where you can't charge different amounts for payment types. I might be wrong on that, but as of now there isn't anybody doing it. Now I fully acknowledge that dealing in cash isn't just adding 3% (or whatever the CC fees are) to gross margin. There will be shrink obviously, and it takes physical labor to handle cash. Walmart is going around all that by trying to get customers to set up an ACH out of their customer's bank account. After they get the ACH fees paid off, there really will be adding money to their gross margin. It will be interesting to see if they can get any traction. I don't own any credit card stocks, but I've long since thought it's dumb not to. There are giant ass moats for competitors, shit is pretty automated, and I think default risks goes to the issuing bank, it's a ****ing brilliant business model. This would be the only trouble on the horizon. Anecdotally, some local shops have started passing on CC fees to customers. I don't know if that's legal or not, but I get it. What are your guys' thoughts on it? EDIT: Link to article. Last edited by Buehler445; 09-20-2024 at 07:00 AM.. |
Posts: 57,698
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#14241 | |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
Casino cash: $808244
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One obvious consideration is cash back or points for consumers. Thats an incentive cc companies provide and also the really annoying thing about retailers passing on the cc fee to the consumer, nullifying the incentive I get it though. Purely anecdotal but I've gotten to know one of the partners in a craft beer and wine bar. He was talking a bit about this and brought up an interesting trend he's observed. Not only are people using cards more over cash but they're also swiping more. No one really leaves their tab open and pays at the end of the night anymore. Instead they close it after each drink and as friends show up and the night goes longer they may have swiped half a dozen times. Similar with groups splitting tabs |
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Posts: 35,041
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#14242 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $834734
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I understand there is some risk in running a tab especially if you give them your card (no clue if that's still a thing. Been a minute since I've been in the bar scene). But as a dude who's had to reconcile credit card statements to classify purchases, these folks are DEFINITELY not even looking at their statement if they're swiping it 6 times at a bar. Yikes. It's been a long time since I've looked at credit card retailer fees, but if there is a transaction fee plus the percentage fee, that's probably eating up your buddy. That would suck. |
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Posts: 57,698
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#14243 | |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $546899
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Of course, one key is you have to have the agreements with the credit card companies to only charge a % fee rather than a transaction charge to make that work. I'm not sure how common the different arrangements are here. |
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Posts: 52,318
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#14244 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $546899
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As for the question of the legality passing on CC fees, there's a super weird nuance to it. You can't "add fees" for credit cards in all states (though you can in most these days), but you can offer a "cash discount" (which obviously amounts to the same thing). Regardless of how you do it, it's largely just a question of how many CC users you want to piss off in exchange for overcoming the fees.
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Posts: 52,318
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#14245 | |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
Casino cash: $808244
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I know I've been annoyed before waiting to get someone's attention just to tab out so I understand just closing out while you have them there, especially if you're uncertain about your plans |
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Posts: 35,041
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#14246 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $834734
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All that is fair.
I think about going to the ATM and getting and maintaining cash, I dunno. The convenience isn't without value. I really don't know how this is going to play out. |
Posts: 57,698
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#14247 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $834734
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One thing I know for sure, I trust the auto-pay and transaction security more with the credit cards than trusting Walmart. If they'd incentivize it I might take a look at it but all things being equal, I'm rolling with the company whose core competency is transactions as opposed to squeezing vendors..
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Posts: 57,698
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#14248 | |
(Sir/Yes Sir/Aye Aye Sir)
Join Date: Oct 2009
Location: Diving
Casino cash: $2555380
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. #J24 #Kameltoe Is A Joke Of A VPOTUS and POTUS Candidate #President Trump loves and supports the constitution #McCarthy is a Sellout and Traitor to America #TheFBLieIsCorrupt #DefundTheFBI #The FBI Is Not The Police #PresidentBidenIsMoronic #LizCheneyGotTheBoot #FJB #80,000,000 Mules (and a few Americans too) Voted For COVID To Continue #I still don't have COVID |
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Posts: 118,259
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#14249 |
MVP
Join Date: Oct 2006
Location: West of the Equator
Casino cash: $429901
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In Kansas CC companies are allowed to charge for transactions. I've noticed it more in small stores that charge for transactions less than $10.
I use the hell out of credit cards for cash back. Right now Discover gives 5% back for Walmart and all grocery stores. That really adds up. That deal started July 1 and ends on September 30. The new deal is 5% cash back for Amazon and Target. |
Posts: 13,703
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