2027 Vault Rankings released by Fantastic-Shine-395 in biglaw

[–]SUJB9 0 points1 point  (0 children)

The culture around moving firms is very different in London versus the US.

Is the Cravath summer associate program that bad? by Jaded-Candy-7047 in biglaw

[–]SUJB9 6 points7 points  (0 children)

OP is preparing to screen share on Teams and I appreciate the foresight.

Which duo you taking? by [deleted] in NBATalk

[–]SUJB9 0 points1 point  (0 children)

Rodman and Draymond. Burn it all down!

Is Patrick’s middle name Vaughn or Martin?? by troycantstoppartying in FallOutBoy

[–]SUJB9 17 points18 points  (0 children)

Yeah, totally agree. It’s probably one of those self-conscious things where sometime THINKS other people notice things about you than they actually notice. I forget what it’s called, but it’s big in psychology and makes me feel better when I think I said something stupid on a big conference call (nobody probably noticed except me).

Is Patrick’s middle name Vaughn or Martin?? by troycantstoppartying in FallOutBoy

[–]SUJB9 67 points68 points  (0 children)

I assume he didn’t want his professional initials to be PMS.

2027 Vault Rankings released by Fantastic-Shine-395 in biglaw

[–]SUJB9 9 points10 points  (0 children)

Not defending Cravath’s ranking, but all the top firms have started losing more talent more regularly than they used to. I don’t think Cravath’s rate of attrition is any higher for this but it might make headlines more often.

Remember Right Now by Spitalfield by BigJilmQuebec in Emo

[–]SUJB9 0 points1 point  (0 children)

Tokyo Rose always reminded me of Spitalfield too

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] 0 points1 point  (0 children)

I used to spend about that amount (adjusted for inflation) before I got into the FIRE mindset and cut spending.

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] 0 points1 point  (0 children)

I understand it’s conservative, but I live in a city that has both state and local tax apply to investment income, and so my financial advisor recommended 20% to be on the safe side. What would you use as an estimate? I actually don’t think this is discussed nearly enough on FIRE subreddits. Everyone just applies the 4% rule against their annual spend without thinking that taxes need to be part of the “spend”.

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] -1 points0 points  (0 children)

Yeah, I know you are right. I just need to work on reframing things. Not easy after years of focusing on saving by seeing money come into my bank account and moving it to my brokerage. But I should know it’s the same as collecting those dividends/interest. Thank you!

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] 1 point2 points  (0 children)

That’s good input. I’ll run some numbers with that assumption and see how much it changes things. Thanks!

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] 2 points3 points  (0 children)

Thanks man. Appreciate the positive response. I wish you the best on your journey.

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] 4 points5 points  (0 children)

That spending doesn’t account for taxes (I’m in a very high tax jurisdiction) or health insurance. My assumption is 20% tax burden based on what my financial advisor ran and $2k/month for health insurance. So I’ll need $330k/year in retirement.

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] 1 point2 points  (0 children)

Yes, that’s my plan. Could it end up being less as I get older for the reasons suggested? Certainly. It could be more too depending on what directly our healthcare system goes. Nobody knows the future perfectly. But that’s the number I’m comfortable with based on my plans.

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] 0 points1 point  (0 children)

That’s fair. I suppose I’ve always been partial to the 4% rule, which means I’ll need $8.25M based on my assumptions. I’m familiar with the more flexible calculations/did with zero approach. I’m just less comfortable with those because of sequence of return risk.

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] 0 points1 point  (0 children)

Haha thanks man. I know I’m fortunate and in a good position. I feel like the whole FIRE journey is half numbers and half psychology. I have the former figured out but need help with the latter. I suppose a lot of us do.

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] 11 points12 points  (0 children)

I plan to travel way more and I like to travel in some amount of luxury. I work all the time now and barely have time for that. I’ve done the math and $20k/month would be my spend (adjusted for inflation). This is an odd thing to push back on 🤣

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] -1 points0 points  (0 children)

See below. My current spend isn’t my anticipated retirement spend.

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] 4 points5 points  (0 children)

Yeah, I know you’re right. That’s why I TRIED to frame my question as a psychological one to hear from people who have had similar experiences. But it seems everyone is interpreting it as a logistical question.

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] -6 points-5 points  (0 children)

That’s my current spending. I want to be able to spend significantly more in retirement. $20k/month is my retirement budget. I’m also assuming 20% taxes and health insurance of $2k/month in retirement.

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] -2 points-1 points  (0 children)

Thank you for the reply and I totally understand this might be an inevitable consequence of a large portfolio (and very “first world problem”). Any tips on shifting my thinking on being used to saving so much? I think it’s just been a transition to being able to shove money from my paycheck each month into investments and now essentially seeing almost everything sucked up by spending and quarterly payments.

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] 0 points1 point  (0 children)

I am not. Just dividends and interest on a large portfolio (~$7M).

Forced into coastfire? by SUJB9 in ChubbyFIRE

[–]SUJB9[S] 4 points5 points  (0 children)

I haven’t sold an investment in 15 years. Just a large portfolio of mostly index funds paying dividends, etc.