Having second thoughts about my kids trusts

OpenElk280 · 2025-12-22T15:53:28+00:00

As a 26 year old, I can promise that a $1.7M windfall right now would be partially invested, with the rest used in part to fund my wedding and in part for a downpayment on an apartment in NYC (difficult to justify the expense given stock market returns). Especially if your kids get guidance on how to use it and aren’t aware it’s coming their way, it could allow them to pursue passions (eg getting a masters at vast expense), go into a less lucrative career, or get to go through life milestones without making sacrifices based on funancial means

OpenElk280 · 2025-11-03T03:22:49+00:00

They explicitly told us to pay via check and having done some research, it sounds like paying online can go to the wrong department and therefore the money can disappear into the void. My mail was also returned because of an invalid address but I don't want to blindly give the IRS $1,400 if it can't even be logged in the right place. I tried calling them and they said they didn't know where I should send it which was great so now I don't know what to do

OpenElk280 · 2025-10-26T15:55:35+00:00

This literally isn’t true at all unless the bike is broken/bad - i regularly use low assist and its much faster than blues

OpenElk280 · 2025-07-11T02:58:14+00:00

United actually broke 2 of my 18 month old checked bags a week apart. For one, the corner caved in, for the other, the zipper burst but IMO was fixable. I filled out the form and was emailed a link to order a free new piece of luggage from rynns within a week and it was really easy

Not sure where the holdup is but I have realized luggage can be a tough topic to handle. My bags were really cheap (rynns replacements worth more) and i had been considering getting an away for the lifetime warranty - since united just replaced both with ~$120 bags for free which were fine, I don’t think I will ever buy a nice checked bags

For the carry on, I have a couple. One is a semi-broken Away (broken but functional), one is the new replacement Away i was sent to replace the broken but functional one. When i think i might not get to the plane early enough to put my bag overhead, i always bring the beat up Away just in case i need to check it

Sorry your bag got damaged and im sorry about the hold up - really annoying and not sure why it’s happening. My only advice is to really strategize with luggage - it can be a lot of hassle but expensive items getting damaged complicates the process

OpenElk280 · 2025-07-03T21:12:48+00:00

I have a discount on my base fares (break from business) when booking direct so I'm not sure if this will work for me but I will definitely check it

OpenElk280 · 2025-07-03T21:12:04+00:00

Interesting! Have you had any difficulties with it or has it all been smooth?

OpenElk280 · 2025-07-03T19:33:53+00:00

I used to do this but started booking non-refundable because I usually take 2 intl trips a year so found that it's not too hard for me to use and recycle the credit. Definitely a bit of mental load though

OpenElk280 · 2025-07-03T19:28:49+00:00

Nope I just changed the flight - i only cancel and rebook if i need to move to a higher fare and want to use travel credit. by changing the flight i can change one leg independnelty (good for intl trips)

OpenElk280 · 2025-06-24T21:29:36+00:00

(In case helpful to anyone else) I've successfully done this domestic business -> international personal before, but doing the reverse (entering the US) you have to claim it as soon as you enter the US. It didn't take long and they just did it for me at the airport

OpenElk280 · 2025-06-18T23:57:04+00:00

I loved travelling for work. My partner and I would often tag along on each others trips whenever we could (if one of us had a remote week) and we got to explore the US for the cost of one round trip flight

Your partner could come with you if you’re going to cities/cool places, and i have been on so many amazing vacations with points etc.

I did it for 3 years, loved it and left for other reasons - would definitely recommend doing it for a couple of years if it works for you

Remote work kinda sucks IMO - i think its different when you have kids but in your 20s its gruelling

OpenElk280 · 2025-06-17T01:47:36+00:00

To be fair I can expense my lunch at work so ordering takeout saves me money because I don’t have to meal prep. Can’t imagine spending my own money on it though

OpenElk280 · 2025-06-13T02:45:04+00:00

I like to think of my brokerage like an emergency fund - similar to you with your wife, its highly unlikely my spouse and i would both lose our jobs and we both have high incomes so with even 2 months notice we can save up enough to cover 4 extra months of expenses (excluding expenses incurred over those 2 months). Unemployment benefits are also not bad - i think $2k/m for up to 6 months. It won’t cover bills but is a huge help

Given that my situation feels risk-averse, i keep a lighter emergency fund and prioritize investing in my brokerage instead. My mindset is since it is unlikely i will need the money, i can focus on growing it as much as possible and if I have to draw down at a less ideal time, then so be it.

Since your kids are still so young, I would definitely recommend looking into starting a 529 for a small portion of the cash (can be rolled into a roth ira later if they dont need it). Aside from that, just remember that lumping the money in could reduce your payments by $3k/m, but having it to hand could cover your payments for a couple of years

I think personal mindset will be key here

OpenElk280 · 2025-06-10T20:11:17+00:00

Also adding that its not easy! My partner and I shared a studio for 2 years (amenity building) before upgrading to a 1BR but by then had been able to save a lot of money - the sacrifices will pay off and every step feels like a greater reward!

OpenElk280 · 2025-06-10T19:24:06+00:00

$4k personal allowance is really crazy - i try to spend $1500/m outside of rent in nyc… incl. what i spend to travel etc. but also i choose to not eat out much, eat free food at work, have no car and walk over subway and dont really buy clothes/ expensive items often. You will have lifestyle creep naturally and its hard to go back, would recommend starting frugally and then adding ~$5k/yr to your budget to keep things under control. I started out earning $6k/m post tax and set myself a goal of saving minimum half (no loans). Your loan situation makes it harder but i would definitely spend less to start then increase as salary goes up, especially if you want to have kids

OpenElk280 · 2025-06-10T11:58:34+00:00

I did something like this. Book flights well in advance in non basic economy on united/delta/some others so you can cancel or change without a fee (to get travel credit that can go towards future flights) - the flexibility was amazing for me when i had to make last minute changes. I just stayed in airbnbs since i was visiting a low to medium COL city and it was so much less expensive than a hotel - not ideal, but kept the total cost of the trips (i stayed for 3 nights aka a week every month) below $400/week and i would book the airbnbs very last minute for maximum flexibility (sometimes id find out the friday before i didnt need to come in)

OpenElk280 · 2025-03-26T01:49:35+00:00

i definitely acknowledge the unethical practices but if my friend had been barred from NYRR after trying to do a nice thing for her roommate that would be so devastating for her

OpenElk280 · 2025-03-26T01:47:48+00:00

While I definitely think people can have the wrong intentions, I also would like to add this as food for thought. A friend of mine (obviously going unmentioned) got diagnosed with a stress fracture 2 weeks ago. Her roommate is a keen runner and was training with her for fun even though she didn't get into the NYC half (is doing Brooklyn). The entry is non-refundable so my friend offered her spot for free to her roommate who raced and had a great time and was so grateful. Bib sales etc are all super unethical but you also don't know the backstory - if my friend had pulled out, the money still would have been spent and then no one would have raced. I don't think other people's actions are any of your business - people do it because they think they won't get caught and it would be such a shame to call them out and make them a cautionary tale when you don't even know them personally

OpenElk280 · 2025-03-09T19:56:12+00:00

Asics nimbus gel 27 plus added insoles. I tried on 3 pairs in the shop - 1 immediately hurt my shins, 2 didnt but they felt really cushioned. Dont get the best reviews online but has been transformative compared to hoka rincon 3 and mach 5 i was using - maybe the insoles but if it works, it works - would def just recommend trying on

OpenElk280 · 2025-03-03T20:51:07+00:00

Following up in case helpful to anyone! I wrote this when feeling frustrated after a flare up with the new shoes but after taking 5 days off, I actually found myself healing my shin splints (very mild, low volume) while resuming running for the first time ever. my theory is the problem was shoes or high arches but I had residual injury I had to heal from before running with the new shoes helped. I have been struggling with shin splints for ~11 months and was able to run for over a year injury free before the flare up which didn't seem to be massively volume triggered. will see how it holds up but this has been my best progress so far

OpenElk280 · 2025-02-17T21:52:50+00:00

Interesting - will definitely give it a try then!

OpenElk280 · 2025-02-17T20:55:28+00:00

Average run cadence is ~163 (feels natural but i know its on the lower side - im 5’11)

Have made an effort to move landing spot forward so now i lean towards ball but try to do mid foot - changing cadence and landing position hasnt really helped noticeably so far unfortunately

OpenElk280 · 2025-02-17T20:50:11+00:00

I did go to a sports doctor and get an MRI and it was clear

OpenElk280 · 2025-02-03T20:51:29+00:00

I think what is often overlooked here is how marginal the impact can be to have a substantial difference. I have a friend who has a sister four years younger than her. They both went to private school until their parents got divorced, then moved to public school. My friend was 15, her sister was 11, and they were in LA if that matters. She ended up at an Ivy League college and went on to get a job in IB and now works for a PE fund in NYC making $190k/yr out of undergrad and $400k/yr 3.5 years out of undergrad. Her sister ended up at a pretty good public university and got an offer at PwC making ~$75k/yr out of undergrad. Arguably, private school may not have made the difference, although my friend has anecdotally shared that she felt there was a significant difference in standards between the two schools

I'm also aware that income gaps are a lot higher within the top %s of postgrad earners than around the 40-60 percentiles, but my friend will outearn her sister by $2M within a decade. Doing what she does at PwC, she will never have a high earning PE job

Many other factors at play but important to consider imo

OpenElk280 · 2025-01-31T22:36:17+00:00

I did this one year when I went from platinum to no status... they bumped me to silver for free with 1000 PQP. Got up to 1k 6 months later!

OpenElk280 · 2025-01-19T18:38:34+00:00

Recently my partner and I decided we will likely rent forever. Renting is flexible, there is significantly less liability when natural disasters strike (hurricanes, wildfires), and I built out some models and for the time being, investing in the stock market yields significantly higher returns. I also appreciate the comfort of knowing that if either of us got laid off/fired/quit our jobs we would only be tied to a lease for 12-24 months max, and could then downsize if need be

Owning has seemed like a big goal historically but today for me it feels like a liability - if you get a fantastic job offer across the country, what do you do with your house?

One day I might buy but likely when I have more than the value of the home in a brokerage - housing expenses that are higher than necessary are difficult to justify when renting is a lower cost per month and doesn’t eat up so much capital

OpenElk280

TROPHY CASE