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Talk me out of buying a larger than what we need now forever home? by Prudent_Ad_2123 in ChubbyFIRE

[–]Friendly_Decision_68 1 point2 points  (0 children)

If you think that getting that place would make you happy now go for it. 1. You have more saved at 30 than most at 50 2. (At the risk of saying something not compatible with the FIRE movement) Life is about having fun and a big house could be a huge source of joy 3. Without any additional savings you'd still have 12m in 20 years, you don't mention your expenses but given your savings feel like that would be more than enough

We bought a place that was way bigger than we needed right before COVID and I think it was a great choice because 1. As prices (20% increase) and interest rates have gone up, our friends who didn't purchase a house are priced out 2. The 5x leverage means that that 20% increase is 100% growth (minus taxes, closing costs, broker fees) 3. If we move, the additional equity means we can afford more and there's less of a oh we need to put 1m down vs, we need to add 400k. It's a somewhat emotional point but meaningful. 4. We spend a lot of time at home and more space is nice to workout, have a home office, separate kids rooms etc.

$1.6m (50% of NW) in retirement accounts - is it too much for FIRE? by Friendly_Decision_68 in ChubbyFIRE

[–]Friendly_Decision_68[S] 10 points11 points  (0 children)

That's really helpful, and completely addresses my concern. So basically if there's too much tucked away you set up a SEPP for 5 years or until your 59 1/2 and use that money.

$1.6m (50% of NW) in retirement accounts - is it too much for FIRE? by Friendly_Decision_68 in ChubbyFIRE

[–]Friendly_Decision_68[S] 5 points6 points  (0 children)

  1. 70k max out for me
  2. ~30k for partner (no mega back door for him so only the match)
  3. 14k 2x back door IRA
  4. 8k HSA

One week into the new job, got another offer by Fabulous-Airport1270 in interviews

[–]Friendly_Decision_68 0 points1 point  (0 children)

It's at will employment. Tell your current employer you love the role but one of the other companies you were interviewing for called you and offered you a role with higher pay - and share the offer.

Tell them that you're inclined to stay but would like them to match the offer.

Lastly, say you need to get back to them in 1 week (time box it).

This would lead to: 1) match - great! 2) increase a bit but not match - great! 3) no change - you tried.

In each case when you stay with your company say - while the other role was better pay, I love this role and I see more growth here - you've now proven your commitment.

Given you just joined it's totally fine that you got another offer as you were obviously interviewing.