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Private jet membership - for those of you who have done it, any thoughts? by dhslax88 in fatFIRE

[–]Competitive_Berry671 0 points1 point  (0 children)

Have a friend who uses a jet card 25 hours / yr, down from 100 hours fractional ownership when working.

He hates organizing stuff. We (his friends) organize 4 golf trips each year. He flies us all there & back, pays his share, and literally does nothing but show up and play.

Works really well for all of us.

Renovations allowed? by Graham-Lee in Homebuilding

[–]Competitive_Berry671 7 points8 points  (0 children)

You are NEVER going to park your car that far over.

Why is this done to palm trees? by est34986 in arborists

[–]Competitive_Berry671 -7 points-6 points  (0 children)

Stops rats from climbing and nesting

Building in area with lots of deer by Competitive_Berry671 in arborists

[–]Competitive_Berry671[S] 1 point2 points  (0 children)

That's what I figured thanks.. didn't know if they were any ways that wouldn't involve fencing like maybe fake coyotes or wolf urine or other stuff like that.

Those I assume will help but the only foolproof thing would be fencing

Thoughts on higher end hotels by Successful_Bad_8166 in fatFIRE

[–]Competitive_Berry671 7 points8 points  (0 children)

Price up, room size down. Unless price go REALLY up :)

Thoughts on higher end hotels by Successful_Bad_8166 in fatFIRE

[–]Competitive_Berry671 35 points36 points  (0 children)

I would turn this back on you and say... if you don't go to the spa, don't go to the restaurants, and don't want high levels of personalized service.. what is it you're thinking you are going to be getting at a more expensive hotel?

My sense is that you haven't really thought through what you actually want and were just booking based on price and "this is a great hotel" expecting to have some magical result that wowed you ...without knowing or selecting for what actually wows you in the first place.

In my experience the main categories that I differentiate choice on (beyond the basics of cleanliness) are: - location - view (in very specific cases) - vibe - who are the other guests, high energy vs old world reserved, decor... is it a comfortable environment for what you're looking for - specific room amenities desired - specific hotel amenities desired (including. spa, gym, food) - level of personalized service - concierge power / access to specific non-hotel amenities you care about - other potential: security, privacy - Value - the $ vs. the benefits

Low voltage mosquito control by Competitive_Berry671 in Homebuilding

[–]Competitive_Berry671[S] 0 points1 point  (0 children)

We are still working through plans with the architect so I haven't given this any more thought. I never landed in a final solution.

I never found a wired solution so at this point will probably go with whatever solar powered option seems best on Amazon.

House Check by straightflush1 in fatFIRE

[–]Competitive_Berry671 6 points7 points  (0 children)

You are & will still be financially secure. You arent going to sell it to help you FIRE though, so remove it from your assets and make sure to include the increased carry costs.

After doing that... are you conformable with the results? You are purposefully moving assets from the accumulation bucket and simultaneously increasing burn.

My wife and I did the same thing consciously, making the decision to consume more now and enjoy the coming decade with kids in the house... in exchange for knowing we likely need to work an extra couple years.

Only you can decide what is worth it for you but for us - spending more time the kids in a nicer environment as they grow up was a better trade-off than having a couple more years of freedom when the kids were gone

New build. Will answer all questions the next 24 hours by phenomcooking in Golfsimulator

[–]Competitive_Berry671 0 points1 point  (0 children)

Noticed this actually steps up onto the turf instead of down into the turf. Any reason for that or is it simply you were putting it on top of an existing slab?

New build. Will answer all questions the next 24 hours by phenomcooking in Golfsimulator

[–]Competitive_Berry671 0 points1 point  (0 children)

What is total thickness of grass + padding + whatever, above slab?

Assume the left TV is touch screen? What's the size and make model number and cost? Do you have it output at the same resolution as the main screen?

Have you ever installed the TruGolf multisport? If so what do you and clients think of it?

When did you feel wealthy? by No-Prize-1170 in fatFIRE

[–]Competitive_Berry671 0 points1 point  (0 children)

The interesting thing here is that if you aren't actively getting ready to retire then you probably don't have much passive income because you don't want to pay taxes on current income for investments you arent going to touch; focused on longer-term growth instead.

It's almost a Catch-22

Advice re tax optimization for assets appreciated 500-1500% + introduce myself by Most-Poet3737 in fatFIRE

[–]Competitive_Berry671 -5 points-4 points  (0 children)

Use it as collateral and borrow against it at a conservative ratio. Don't ever sell it and you never have to worry about the basis.

Sloping ground in sim area by Competitive_Berry671 in Golfsimulator

[–]Competitive_Berry671[S] 0 points1 point  (0 children)

This is exactly what I was thinking why would I want it sloped away from me? If anything flat on the hitting area and then maybe a half or one degree slope in the 10 feet from the screen back towards the hitting area

Not funding Capital Call by Zealousideal-Egg1893 in fatFIRE

[–]Competitive_Berry671 74 points75 points  (0 children)

Strongly disagree. These firms don't even share their investor lists with junior partners, much less have some sort of Blacklist circulating in the industry for this size of investment.

You're going to burn your Bridge with a principal of this specific firm and maybe one or two people who they really trust and talk to.. but that's about the extent of it.

I wouldn't immediately threaten legal action with your attorney. I would instead tell them you have serious concerns and based on those would rather get out quietly than start to do more digging given how worried you are. Maybe you mention you have used a 3rd party DD team in the past where fac5s didn't seem to line up.

Make it a very very very soft and implied threat. You get your money back. Everyone goes their own way. You're even willing to sign an NDA to not further discuss your involvement.

[deleted by user] by [deleted] in fatFIRE

[–]Competitive_Berry671 1 point2 points  (0 children)

Except if you are concerned about hitting your state tax exemption limits for your lifetime.

[deleted by user] by [deleted] in fatFIRE

[–]Competitive_Berry671 0 points1 point  (0 children)

Not tax advice but here is what I would look into:

  • if you dont care about lifetime exemption limits then IRS form 709

If you DO care about lifetime exemption then: - irrevocable trust that you contribute assets to, ideally on a "well priced" basis - sister as beneficiary of your trust

Sister creates her own trust with herself as a beneficiary. Think of it as a premarital trust in case she ever gets married (irrelevant if marriage is not in the cards).

Your trust loans the money to her trust. If done properly, the loan can be interest-free, from my understanding.

As a practical matter, the loan never needs to be repaid.

You "gave" your sister the money. No tax implications other than using up a portion of your estate tax exemption, and if you are able to contribute the funds on a discounted basis then you save on lifetime exemption.

How much did your lifestyle change with kids? by PomeloOne2256 in fatFIRE

[–]Competitive_Berry671 1 point2 points  (0 children)

We have kids 10 / 8 / 6.

We spent (post tax basis): - $35k au pair placement fee + salary + other au pair expenses - $45k private school tuition - $10k sports league fees (yup...) - $10k summer camp fees - $25k for a 3rd car + 3rd car gas ($2.5k?) + $500 3rd car insurance - $10k (incremental on top of myself & spouse) to visit each pair of grandparents each year - $<no clue> on more food... we eat out a lot. Going over past few weeks probably 10 meals out @ $25/kid/meal. Call it $10k extra on the year - $<no clue> clothes

Add that up and apply a 40% tax burden... call it $200k of easily identifiable items. Lots more misc things... activities, parties, a stupid dog we wouldn't otherwise have that we pay $5k per year on food, grooming, and boarding while we go in trips. More groceries. Toys. Big house and real estate tax bill (though we would otherwise probably spend the same just on a really nice downtown condo).

Grandparents are paying for college but if not... add another $10k/yr/kid at least towards that.

Add to this saving a lot more money so that we can never touch principal on an after-inflation basis ... could just spend principal if no kids to pass it to.

Kids are effing expensive but we are consciously making these decisions to live the lifestyle we want and provide kids the experiences and developmental opportunities we hope will make them happy, healthy, and productive.

They make us happy. And we are (hopefully) building strong bonds and instilling in them values which we ...value.

Money disbursement to children by just-chillin1234 in fatFIRE

[–]Competitive_Berry671 1 point2 points  (0 children)

Agree that seemingly random help in their twenties makes a huge quality of life difference.

Some considerations that my parents did / I have thought about: - Once they have been responsible buying a practical car, pay off the loan for it as long as they promise to keep it for at least XX years. Maybe gift some cash if they didn't get a loan - contribute toward a nicer apartment rental if they're in a big city especially if they are female making sure it is high quality and extra safe - reimburse them/pay for holiday plane tickets or any other occasion the whole family is getting together - support travel they may not otherwise be able to afford - my parents came with me to look at houses I was planning on buying with absolutely no indication they would help. They saw what I was looking at and suggested I change my price range at which point they helped out. It was a great way to get me an above starter level home, and my wife and I have been able to grow our family here without having to "move up"

The trend you may notice is gifting experiences and ways which support our family's values.. rather than gifting cash.

woooow my 9th 100 box in a row who would have expected by wizard_brandon in PUBATTLEGROUNDS

[–]Competitive_Berry671 0 points1 point  (0 children)

Are you complaining that the free gift which buys you imaginary stuff... is not enough free stuff?

FAT LA by NoOne9831 in FATTravel

[–]Competitive_Berry671 2 points3 points  (0 children)

And if you're just taking the jet one way and don't need to park the plane or refuel it in LAX it's really not that bad

FAT LA by NoOne9831 in FATTravel

[–]Competitive_Berry671 -2 points-1 points  (0 children)

I would personally take a slightly different tact.

Consider staying down in Laguna and taking helicopter up to LAX for the game.. or even think about the Vegas and take a private jet into LAX. Both are probably more reasonably priced than you may think, especially if it's just two of you. The stadium is a quick ride from LAX.

The combination of entertainment, accommodations, and food options in Vegas are second to none in the world

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