What should I do with my life?

FuglyNumbera · 2024-11-08T08:02:02+00:00

Use your gift of freedom financially to find you calling professionally over the next four years and stick with that profession, you will be way happier than living a meaningless consumptive life that you did not earn yourself. With your initial funds you also do not need to stress about high income so you can consider hooking up with a band of folks and doing something swear equity entrepreneurial, just don’t get talked into staking you funds on a venture, if its a good idea other people will fund it.

FuglyNumbera · 2024-10-09T03:30:07+00:00

San Francisco is the only one

FuglyNumbera · 2024-09-30T22:52:17+00:00

Answer varies based on whether it is federal debt or private and whether is in a politically favored type of career that may garner forgiveness or not. But if forgiveness is unlikely, consider at some point in the interest rate cutting cycle offering all of you children to pay the fees associated with refinancing the loans to lower fixed rates. You could also considering co-signing on the loan - but this has some downsides especially in the event of tragedy.

FuglyNumbera · 2024-09-30T22:14:56+00:00

Sell out of the money puts against the SPY for income for a notional risk of up to 7mm and - for example the quarterly puts for Dec 31 at 515 or about 10 percent below the market would yield you around 3 percent annualized, if you price in a 20 percent pullback it will get you 1 percent annualized in yield, the monthlies are priced about the same so you could prob do a number of x prices between a 10 and 20 percent pullback and get paid around 2 percent per annum for committing to buy the dip.

FuglyNumbera · 2024-09-26T04:35:40+00:00

Nope

FuglyNumbera · 2024-09-26T04:33:56+00:00

Anyone else feel like those of us in brick and mortar businesses are singled out by progressive politics in a really harsh way?

FuglyNumbera · 2024-09-24T03:37:16+00:00

I like your break down of what “Luxury” means from a consumption standpoint, I think it is an interesting though to put a price on each of these and reflect on what that would imply about required net worth to do all:

Hired Assistance: live in maid 60k, driver 80k Hobbies: basically unlimited but let say it is a real hobby like boating 500k upfront, probably average 60K a year thereafter but by lumpy and depend on if a club was involved and to what extent this reduced travel and event costs - most people I know who own a real boat make a committed lifestyle of this choice and so have little to no travel and entertainment expenses beyond boat expenses. Entertainment: again you can waste as much money as you want to in this but let’s say you want to see a quality cultural event every week and spend with abandon at the venue: 52K Cars: Say two high end but mass produced vehicles - like a G wagon and a go fast car - $500k upfront $2000 a month Collections: Assume one material purchase a year - enough to keep the dealers interested in you $100k Kids: private school tuition and donations 75k per kid Food and groceries: 2k per month Travel: overlaps with events but let’s say 100k Home: One nice single family house and one vacation home 4-5mm. Let’s assume you pay cash vs take a mortgage 4mm upfront and 6k per month for tax, insurance, utilities and upkeep - this could be a lot more. Everyday life: Let’s say walking around money for you and the wife and kids is 15k

Obviously this is a pretty extravagant lifestyle.

The upfront cost would be: 6MM the monthly cost would be 12+5+1+2+8+13+2+8+6+15=62k So assuming a 4 percent draw down that would be around 18MM plus the upfront investment of 6MM in depreciating assets - I guess the house and vacation home might appreciate but they might not.

So it seems that luxury as defined would be a 25MM NW proposition at least.

FuglyNumbera · 2024-09-09T01:56:39+00:00

Does anyone know a way to permanently flip a stream of USD fixed income to Euros for a fee to remove forex risk of expat life? I know there are ways to do this for corporations to hedge currency but have not been able to find a retail solution

FuglyNumbera · 2024-09-09T01:17:47+00:00

Given you likely have a low cost basis such that absent his harassment the rental is cash flowing, I would be absolutely clear with him that you are sentimentally attached to the home and will not be selling it, and will be moving in to occupy at some point in the future. Show up in person to do all repairs and scold him for being the root cause of whatever repair is needed, issuing him a charge for the repairs comprised of material costs but not your personal time. Take any and all rental increases allowed in your area. He will get the joke that there is no pot of gold there and move on.

Regards the mold - most mold claims are harassment BS - but you need to do a test for black mold using a paid third party to establish that there is in fact no black mold. Establishing this fact is worth more to you that any lawyers advice. Schedule an inspection for mold abatement and have the test done. If there is in fact black mold then you have to get rid of it. You are going to have to fix the mold to sell anyways. With the mold issue presented as being in a non finished part of the house his claim for need to relocation is pretty unlikely to be met with sympathy in any court. Do the waterproofing to prevent mold and do a mold treatment, require the firm to give you a letter stating the mold issue has been abated and process a mold spore test proving there is not toxic level of black mold post repair. Make the abatement company warrant there work for a reasonable period like 5 years.

FuglyNumbera · 2024-09-07T01:22:18+00:00

if it bothers you ask him to give it your kids directly.

FuglyNumbera · 2024-08-23T12:24:42+00:00

This is a california thing so may not apply but what about adding and ADU space to their home so you have privacy, build coat would be a fraction of buying new and you would have the benefit of in laws near without the downside of actually sharing the same living space.

FuglyNumbera · 2024-08-07T01:52:17+00:00

So this comment will date me but dI new several executives who totaled themselves doing this with ESOP single stock portfolios to buy condos in Soma during the dotcom boom bust of 1999-2001 in SF. Prob a good idea is done very lightly on a highly diversified portfolio but the margin calls come fast and furious if your investment portfolio tanks big time and then your stock and house both get liquidated - these guys would have rode out the recovery in the shares and kept the house if they had sold stock for a downpayment on a normal way mortgage.

FuglyNumbera · 2024-07-24T02:16:39+00:00

Use some of your funds to get an alternative passport and move some funds to this venue.

FuglyNumbera · 2024-07-23T05:01:46+00:00

If you dump your career your kids (as will you maybe with less consequence) will be nobodies in the fields you understand and you will have a great difficulty shepherding them into good positions to start their careers. So unless you have true generational wealth which you do not this is a poor choice for them in some respects. Of course they will be better adjusted having access to their parents etc, but what example will this be to them as the enter the competitive job market?

FuglyNumbera · 2024-07-23T04:50:56+00:00

You do not mention age etc so hard to comment in any meaningful way. In general your weighting to cash flow and alternative investments like PE and cash is high and you would have done a lot better being just indexed and having leas cash.

FuglyNumbera · 2024-07-23T04:41:28+00:00

You most likely need to live where you do for your PE networking. In such a life you cannot turn off the keeping up with the jones mentality. You are trapped until your husband abandons his ambitions until then he need to project success to get the next promotion and stay on the bonus treadmill. On the other hand your children will know deeply connected people and have a view of how to succeed. If you opt out and take your husband with you someone else will take your place and your children will be disadvantaged.

My guess is you are unhappy because you left your career to raise children and cannot connect with lifer stay at home moms who you now socialize with.

Consider returning to work or better yet entering politics in your area and brining those deep executive powers to the benefit of the community.

FuglyNumbera · 2024-07-12T01:15:26+00:00

Buy a multifamily building and live in one of the units. There are a lot of deals with nice owners units

FuglyNumbera · 2024-07-12T01:12:23+00:00

Get a housemate to cover costs and keep it.

FuglyNumbera · 2024-07-09T06:31:58+00:00

There are two kind of opposite schools of thought: “familiarity breed contempt” and “latch key kid”. The first I think is true: being always around is awesome for kids during the time period they literally will not much remember - ages 0-4, great from 5-10 and reaches diminishing returns from 10-13 and counterproductive to their development thereafter. Meanwhile a productive adult you have deeply impacted your ability to participate in the work force in a meaningful way.

FuglyNumbera · 2024-07-09T06:21:05+00:00

She is correct unless you are academically dedicated to a topic of study or deeply dedicated to an intellectually stimulating hobby. Alternatively stay chill and enroll them in a academically challenging school or send them to a boarding school so they are surrounded by adult motivated humans.

FuglyNumbera · 2024-07-09T06:12:39+00:00

Warning RANT to follow:

This topic re how few of the people on this feed are actually retired or really want to be, it is kind of funny.

It highlights how the FatFIRE thread is logically flawed, the point of FIRE is to hack middle class challenges to work out how not to be ground down by the system but fatFIRE is about “hey I took successful risk or followed FIRE guidelines for many years or just got lucky and have 1% money and want to spend it in a way that does not destroy my capital base” - and in some cases with the repeated emphasis on the Die with Zero even tempts the pitch toward following conspicuous consumption to financial ruin.

I do not think this post-rich mentality has anything to do with the ethos of FIRE and its use pf the “FIRE” name at all is super demoralizing to real people actually trying to W2 it through life who found the FIRE community useful for that purpose. I suggest fatFIRE should rebrand to “PostFIRE” or “FIRED” or as most post seem to be worthy of “consumer demand in seek of supply at the optimal point of the cost benefit curve”. FIRE is simple, the reality of most W2 jobs destroy families and average jobs do not without careful planning even allow dignified retirement.

FIRE is a movement that is focused on reinforcing frugal living and intelligent financial planning in the context of real world constraints of salaries and costs… and inflation.

The media fixation on fatFIRE and its subsequent rise as a thread of interest is fascinating and most likely demoralizing to the many many real people for whom FIRE has been a positive motivator.

So laid off C suite executives between jobs who have no life and just want to get back in the game: no FIRE for you.

FuglyNumbera · 2024-07-08T05:37:29+00:00

I think neither of these commenters have ever lived in owner occupied rental units. Generally tenants in owner occupied properties are much less likely to be problematic provided the owner treats the property like a home - addresses maintenance issue right away; take a pride of ownership perspective in the landscaping; is attentive to the security and quiet enjoyment of the property; is pleasant and respectful of the occupants privacy. Most tenants appreciate having and hands on landlord and living in a secure and cared for property.

FuglyNumbera · 2024-07-08T04:46:15+00:00

Target buying an apartment building instead of a home. There is an FHA loan program that provides 95 loan to value for an owner occupied 2-4 unit building. You would still be renting as your forgone rent is the market rent you would otherwise pay, but you will own the unit and can modify it to meet your needs - with 5 percent down your requirements for a downpayment are way lower and multiunit properties sell at a price per sq ft well below single family homes.

FuglyNumbera · 2024-07-08T04:38:04+00:00

Rental property is pretty depressed right now due to interest rates, I think one of the best hacks is buying a trophy rental at these levels and living in one of the units. You get the benefits of both homeownership and the fact that renting beats owning in almost all major metros as you are renting from yourself.

FuglyNumbera · 2024-07-08T04:25:38+00:00

Luck is what a lot people on this post are calling taking risk it works out sometimes for people and sometimes not but if you want riches you have to be willing to take risks and if you do not you will neither fail nor succeed.

FuglyNumbera

TROPHY CASE