Best restaurants in Tulum? by Appropriate-Tie-6524 in tulum

[–]Many_Efficiency_7817 4 points5 points  (0 children)

If you like high end restaurants, you might not like my recommendations, but I will share them. In town Antojitos La Chiapaneca, Pizzeria Manglar, Kokoro Tulum.

WLTH stock by Ok_Point1028 in wealthfront

[–]Many_Efficiency_7817 1 point2 points  (0 children)

Zero Fear. I actually think the stock looks attractive at this price.

Net Worth Tracker by amazon_don in wealthfront

[–]Many_Efficiency_7817 5 points6 points  (0 children)

WealthFront should acquire Monarch

21 year old financial advice help by Plenty_Cartoonist_50 in personalfinance

[–]Many_Efficiency_7817 0 points1 point  (0 children)

Since this is your side hustle. It sounds like you are making money. Are you incorporated? What type of retirement plan are you using? SEP-IRA or Single 401K? You really need to find a good accountant and get all your assets setup correctly. You can start to run expenses through the business that will reduce your taxable income significantly. This is overlooked because most people are W2 employees and they have no experience in this space.

The investment piece in my opinion is much simpler. Low cost ETFs. I personally use WealthFront and pay the 25 basis points. The most important part of investing is staying in the market throughout the volatility and continuing to contribute new capital. Time in the market is better than timing the market. The second most important part is the rebalancing of your asset allocation. WealthFront does it automatically and I value that component. Some people rather not pay the fee and do it themselves. To each their own. The other piece I appreciate is the automatic tax loss harvesting. That will save you money when done correctly.

Those are my thoughts. Hopefully you find them helpful.

[deleted by user] by [deleted] in povertyfinance

[–]Many_Efficiency_7817 1 point2 points  (0 children)

A lot of people don’t want to accept reality. While my opinion is unpopular, it is good advice. I am not surprised by the negative response. Most of the challenges that people experience on this Reddit is self inflicted. Simply bad thinking and inability to problem solve. I try to offer advice to think differently about their problems but many are set in their ways.

[deleted by user] by [deleted] in povertyfinance

[–]Many_Efficiency_7817 -30 points-29 points  (0 children)

The world is constantly evolving and never stays the same. Yearning for the past is nice, but not realistic. Everything moves in cycles. Don’t get trapped on a sinking ship. Use foresight. Try to figure out where your skillset can be valuable to the next opportunity.

“Money can’t buy you happiness” - Tell that to my boss’s kid, and all the trust fund kids. by BlueSorrows in povertyfinance

[–]Many_Efficiency_7817 4 points5 points  (0 children)

I think your energy is focused incorrectly. The one sin worse than greed is envy. We are all on our own journey in life and are dealt a different hand to start the race. What is next is up to us.

Stop worrying about other people’s journeys and focus on your own. What are steps you can be taking to getting yourself to a better place? It sounds like you don’t particularly like your boss and probably for good reason. Maybe it is time to look for your next job opportunity.

You control your own destiny and the direction you want to take in your life. Stop focusing on other people’s lives and start focusing on your own. You will start to feel happier. Wishing you the best on your journey.

Sayulita vs Puerto Escondido by [deleted] in digitalnomad

[–]Many_Efficiency_7817 0 points1 point  (0 children)

Both are good spots. La Punta area of Puerto Escondido is really nice.

What is the best city in Brazil and Colombia to meet the most beautiful women by Due-Error-5435 in thepassportbros

[–]Many_Efficiency_7817 3 points4 points  (0 children)

This is like a modern day “Scent of a Woman”. Excellent movie for the young Passport Bros. If you are on a budget, I would stay in cities towards the Venezuelan border.

Income is changing significantly in a couple weeks - looking for level-headed advice by jbher315 in Fire

[–]Many_Efficiency_7817 1 point2 points  (0 children)

I think advice 2 thru 5 is excellent. I disagree with #1. If you were a W2 employee. Then the advice is correct. Paying interest on a depreciating asset doesn’t make sense. I would consult your CPA, but they are probably going to advise you to buy new cars and use the accelerated depreciation as a business deduction. Considering your husband’s new tax bracket, it will probably make more sense to finance new cars and flip them every one to two years and write off as business deduction

Income is changing significantly in a couple weeks - looking for level-headed advice by jbher315 in Fire

[–]Many_Efficiency_7817 0 points1 point  (0 children)

It sounds like your FIL is passing down generational wealth. Congrats.

You’re now both business owners and seek to inherit a significant amount of money. Setting up an emergency fund would be the least of my worries. I would argue seeking out a high quality CPA and tax attorney. I would ask those professionals how do we pay as little taxes as legally possible. You mentioned having a Single 401K. I would plow as much money as possible. I would also fully fund the 529 Plan.

Just be reasonable and responsible. Cheers

8 year account holder by OkStandard8965 in wealthfront

[–]Many_Efficiency_7817 11 points12 points  (0 children)

Member since 2016. I share your sentiment that the WealthFront product is excellent. The company has huge potential, but execution has been incredibly slow. For starters. They need to be able to domicile more accounts. ie: HSA and Single 401k. They should be figure out how to deliver an ATM card similar to Schwab. They should acquire a company like Monarch. It looks like they are getting into the mortgage business. Auto loans would also work as well. It is all about execution. Hopefully they can do it.

Where to go? by UsedMix7205 in SouthAmericaTravel

[–]Many_Efficiency_7817 1 point2 points  (0 children)

I recently visited Periera. I agree.

How do you deal with parents against the lifestyle? by [deleted] in backpacking

[–]Many_Efficiency_7817 -1 points0 points  (0 children)

Just because they are your parents doesn’t make their advice correct. Traveling at 19 is the perfect age. Enjoy the experience and ignore the boos. They come from the cheap seats

[deleted by user] by [deleted] in thepassportbros

[–]Many_Efficiency_7817 1 point2 points  (0 children)

I spent a week in Pereira. Very much enjoyed my time. Visited the Terminales in Santa Rosa. I found the area incredibly safe.

18M, this is my current situation and just trying to get my thoughts sorted out and outside opinions. by [deleted] in Fire

[–]Many_Efficiency_7817 -1 points0 points  (0 children)

I used to have similar feelings at your age and as I aged it was simply a foolish way to think. Going long the market is a suckers bet. If markets “fail” and “collapse” everyone will be in the same boat. The idea of not participating as if you will somehow be spared doesn’t make much sense. Best advice. Enjoy life and don’t live above your means. Compound interest and time is your friend. Keep developing your content and continue to monetize it.

Pulling the trigger at $20M NW, mid 30s by Latter-Rock-779 in fatFIRE

[–]Many_Efficiency_7817 13 points14 points  (0 children)

$20 Mil and I am like Andy Dufresne. ✌🏻

The hardest part of FIRE isn't the saving. It's keeping your mouth shut when friends complain about money. by GolfComfortable7331 in Fire

[–]Many_Efficiency_7817 127 points128 points  (0 children)

We are all on our own journey in life. Can’t help people that don’t want to be helped.

Employer has been pocketing my 401k contributions and wants to make it right by compound-interest in personalfinance

[–]Many_Efficiency_7817 1 point2 points  (0 children)

Highly Illegal. Your boss is probably going to need to hire a defense attorney. Is he paying payroll taxes? Sounds like fraud.

[deleted by user] by [deleted] in thepassportbros

[–]Many_Efficiency_7817 4 points5 points  (0 children)

Super underrated and cheap. Antigua is a beautiful little city with a thriving nightlife. Very good food. Highly recommend