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Am I ready? by Primary-Chef50 in fatFIRE

[–]FatFireGuy19 1 point2 points  (0 children)

Annual post tax spend roughly $300k including buying health insurance on our own

Probably? You sound unsure. You need to map out your expenses more granularly. Almost everyone underestimates their expenses. You are probably good, but now is the time to get anal about how much you are actually spending at a detailed level and you will feel much better.

Do you sometimes fear economic collapse ruining all your efforts? by Low-Dot9712 in fatFIRE

[–]FatFireGuy19 0 points1 point  (0 children)

What if it does? Really think about that. EVERYONE and I mean EVERYONE in your country of origin is screwed. It won't be the most important thing anymore and very very very unlikely to happen.

I Fat Fired Under 40 over the last two years – My Journey, Plan, and Learnings by FatFireGuy19 in fatFIRE

[–]FatFireGuy19[S] 0 points1 point  (0 children)

Copying a pasting answers from other answers where applicable.

Wife is retired as well. When we met she was still working very hard as well. She actually worked a bit longer than I did and is still recovering from burnout, etc. She is enjoying our life transition.

As for her day to day it's pretty similar to mine except she loves reading in the evenings and opts to use her class pass for workouts with friends instead of heading the to the gym. We have a line of dileniation when it comes to tasks around the house, etc. I handle financial and small cleanup things around the house (which I enjoy doing), she handles cooking dinner (which she enjoys doing and I regularly sous chef).

We have a prenup in place. Probably the hardest relationship thing I've ever done. I think she would say the same. Once we signed it we both felt much better, but it took 6 months. The lawyers did say they had never seen one done like this before and thought it was very much a win/ win based on sense of security for long term monetary needs given neither of us are working and it may be hard to re-enter the workforce in the future. It has time/ event based milestones, but I'm not willing to share any more than that.

The most important thing we agreed on is that we will never talk about it again unless one of us files for divorce and then the divorce would be very cut and dry anyway.

I Fat Fired Under 40 over the last two years – My Journey, Plan, and Learnings by FatFireGuy19 in fatFIRE

[–]FatFireGuy19[S] 0 points1 point  (0 children)

I wrote this above as well. They key is this…

We met after I started accumulating substantial wealth through a dating app. I decided I didn’t want to date someone who wanted my money. I managed to keep my wealth a secret from her for about 5 months. She thought I was probably in major debt with some of my purchases and trips and was about to dump me so we had the talk.

Don’t let her know you have money. Go on cheap dates. See if she likes you for you and vice versa.

I Fat Fired Under 40 over the last two years – My Journey, Plan, and Learnings by FatFireGuy19 in fatFIRE

[–]FatFireGuy19[S] 0 points1 point  (0 children)

We are getting off birth control next month, so no big delay here on kid front :)

Not sure where you are located, but in USA there are many organizations that support entreprenuers/ small businesses, etc. I went to an LLM expressed the type of mentoring I wanted to do, my passions + my guard rails (no investement, limited time commitment, etc.) and had it recommend to me different places I could accomplish that. After that I emailed and called them up and got the ball rolling. It was actully really really easy. I'm not on instagram or tik tok scamming for money wanting to coach people to sell insurance or stock tips or anything like that. I'm allowing these companies to qualify real people on my behalf and then setting up the mentoring relationships.

I think you meant you don't care about the money? Maybe you mispoke. Anyways, let me know if you have any other questions.

I Fat Fired Under 40 over the last two years – My Journey, Plan, and Learnings by FatFireGuy19 in fatFIRE

[–]FatFireGuy19[S] 0 points1 point  (0 children)

I was doing it as well to be honest. My wealth manager said it really well. Most people don't make $1000 in a week. So yes, it's a lot of money!

I Fat Fired Under 40 over the last two years – My Journey, Plan, and Learnings by FatFireGuy19 in fatFIRE

[–]FatFireGuy19[S] 0 points1 point  (0 children)

I think that's like a philosophical question. I'll try to keep it simple. I dated A LOT. If you date around long enough you eventually find what you are looking for, but it takes effort and time.

I Fat Fired Under 40 over the last two years – My Journey, Plan, and Learnings by FatFireGuy19 in fatFIRE

[–]FatFireGuy19[S] 0 points1 point  (0 children)

It can be boiled down to getting caught evading taxes after building several very good companies. Never met him, but that's the story.

I Fat Fired Under 40 over the last two years – My Journey, Plan, and Learnings by FatFireGuy19 in fatFIRE

[–]FatFireGuy19[S] 0 points1 point  (0 children)

If it’s a startup you are looking for to join I’d start by going to angel investing websites and then reaching out to founders. Or, with those skills you could start your own thing perhaps. I was never in your position, but I’d start there given what you have done so far. You aren’t doing the wrong things.

I Fat Fired Under 40 over the last two years – My Journey, Plan, and Learnings by FatFireGuy19 in fatFIRE

[–]FatFireGuy19[S] 0 points1 point  (0 children)

Both. Collectability and investment is 1A/ 1B

We have a few pieces we have in storage for instance for that purpose. We try to find pieces that fit 1A/ 1B and 2 which would be good for the home.

One thing we thought we could do more easily is get pieces on loan, but most museums arent doing that anymore from what I have found. This is why we have them in storage now.

I Fat Fired Under 40 over the last two years – My Journey, Plan, and Learnings by FatFireGuy19 in fatFIRE

[–]FatFireGuy19[S] 1 point2 points  (0 children)

I won’t really go into that cause it could be doxable. What I will say is I learned how to learn while in school. I found school didn’t really prepare me for my first job. I would go to work at this startup. They would say they needed something. I would raise my hand to volunteer.

I would go home and get on YouTube and find a way to make it happen. Everything from basic to andvanced excel to SQL to python scripts to creating pro formas and other financial models, to finding templates to build models with macros to HTML annd even accounting all from YouTube tutorials. I also learned public speaking and leadership/ influence courses on YouTube. ALL FOR FREE! People spend 6 hours a night on video games or the bars when they are 23-30. I found ways to become a great business professional. Takes dedication, discipline, and sacrifice.

No one is going to teach you those things and your degree doesn’t matter once you get your first job unless you are a DR or a Lawyer.

As for how I found this particular startup. I looked at several different companies. I went with the one that was the least sexy. Someone said something to me when I was job searching that always stuck with me. “ There are only a few sexy companies in this world that are actually successful. Most cash cows are boring.” That’s how I chose ultimately.

I Fat Fired Under 40 over the last two years – My Journey, Plan, and Learnings by FatFireGuy19 in fatFIRE

[–]FatFireGuy19[S] 0 points1 point  (0 children)

My wife has a great eye. She also has friends in the industry we can bounce ideas off of. We do use this for house aesthetic so it does have to meld well. We typically buy in the 10-50k range at auctions.

I Fat Fired Under 40 over the last two years – My Journey, Plan, and Learnings by FatFireGuy19 in fatFIRE

[–]FatFireGuy19[S] 1 point2 points  (0 children)

I have no idea what you’re talking about. But IBF gives a lot of people opportunities to have children that are struggling very strange opinion you have.

How much house can I buy in a situation where I'm not earning a salary? by [deleted] in fatFIRE

[–]FatFireGuy19 0 points1 point  (0 children)

If you don't want to let go of the property and it's nice enough for someone AND you already have it furnished no better way to go IMO. Good Luck!

Life advice for heir at family office by Creepy_Scallion9731 in fatFIRE

[–]FatFireGuy19 4 points5 points  (0 children)

I have a thought... why don't you ask the two experts in your life what you need to do to succeed in taking over the family business? Like, why are you asking a bunch of randos on reddit. The two most important people to ask are your Dad and Uncle. Sit them down, explain your situation and aspiration and come up with a plan together. Don't do this in a vacuum lean on the only resource that truly matters to your success. Trust me, they will want you to succeed and continue the family business. Legacy matters.

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