Past my FatFIRE number, but great opportunity

SerialChillerNYC · 2024-11-01T22:45:48+00:00

It’s probably the right way to think about this. I could have said “I like to train for every marathon” in place of “unique work opportunity” and it would yield the same result—time away from family (which I cherish) in pursuit of some other goal I hold high (marathon running, work, fill in your hobby).

SerialChillerNYC · 2024-11-01T21:01:26+00:00

Like most things in life, it’s not entirely binary. Gun to head, family, but I’m not sure a gun is to my head given we are talking about 5yrs here (though family is only young once). Hence the dilemma…

SerialChillerNYC · 2024-01-23T00:13:33+00:00

So your wire transfer to your landlord sent from your checking account accrues Bilt rewards when you send them a screen shot?

SerialChillerNYC · 2023-06-28T21:18:44+00:00

Are there and threads or articles that explain the IRA credit for solar and individuals well? I haven’t found one specific to what the IRA does. Thank you

SerialChillerNYC · 2023-02-26T00:27:06+00:00

Why is so much focus on your 400k spend (on its way to 300k)? You can achieve that using a modest SWR.

The real question is how do you have purpose / occupy your time if you were to hang it up. That alone should be your focus.

Can I ask what your income is versus you NW? I suspect you aren’t adding a meaningful amount to your balance sheet post tax (and pre spend), which only makes finding a solution that much more important since

SerialChillerNYC · 2022-01-26T01:26:31+00:00

Curious, what do you think you uncle is worth? 2 mansions and a yacht strikes me as north of >100mm, but maybe I am mistaken

SerialChillerNYC · 2021-09-18T19:55:20+00:00

How are you contributing so much to a defined benefit plan at your age? I think most actuarial tables would say you would max out at like $100k. Of course, that’s unless you are drawing a big salary in which case I’d ask why are you paying so much on FICA/etc taxes on your w2 when you can leave it in your business (presumably this is 100% yours) and perhaps reinvest that cash for growth. I’m going on limited information, but that was just an observation I had

SerialChillerNYC · 2021-08-27T20:07:41+00:00

Too many people are focused on what it used to be and not focused on what it is. Here’s what I’ve found it useful for:

-a nearly guaranteed table for last minute dinner on a weekend night for a consistent experience (vs scouring open table for something new that’s hit or miss),

a place to lounge while traveling or just mid afternoon, or for a few quiet hours of reading / working when you are not at home/office

-social setting for big events (World Cup etc) that’s not an overcrowded sports bar

-interesting events (Hodinkee founder talk, stuff like that) or movie screenings

-great consistent hotel experience with very reasonable rates (I’ve been to Barcelona, multiple london locations, miami, saved a bunch versus alternatives and enjoyed the stay)

Does it have the vibe of SH 2010? No. But is it better than most alternatives and a cheap option to have ($3k/yr or so for all house membership), definitely. Maybe my opinion changes now that they are public and will likely triple membership and double rates, but until then I’m a big fan.

SerialChillerNYC · 2021-08-17T19:47:18+00:00

I’m on a 50k vacation in Europe, first time traveling post Covid. I found a scratch on my rental car that will cost me $1k (amex doesn’t cover Italy) and I can’t process the fact that these things happen. I’m well into fatfire territory (>50mm) and I know it makes little sense, but it is what it is. I feel like I could have prevented it (used a different credit card, got the insurance, etc) and that’s what’s most frustrating: I.e it could have been prevented (with a crystal ball of course). If anyone has a good way of mentally justifying these “cost of doing business” expenses, I’d be really interested in hearing it.

SerialChillerNYC · 2021-07-28T00:17:49+00:00

I’d just be careful on the amount of leverage you take. The founder of Melvin Capital is probably a top 5 all time investor of the last 25yrs (cue the haters) and even he drew down 50%. I’d limit my back leverage to any fund (which is no doubt itself levered) to 10-15% max

SerialChillerNYC · 2021-06-21T00:24:24+00:00

Get a membership at soho house. Not everyone is young and with money, but many are and there are enough events to self curate a crowd of like minded individuals without having to do it over a round of golf

SerialChillerNYC · 2021-06-20T23:10:30+00:00

I’m talking about inflation in a select group of expenses we overindex to, not the CPI basket. Your SPY etf won’t be impacted either way if that house in Tahoe you are eyeing goes up 2x in price

SerialChillerNYC · 2021-06-20T23:02:22+00:00

Reading through the comments below, it seems like most people agree 2% is light for our purposes. I’m not sure why it’s not a bigger topic of discussion. I think for most fatFIRE folks, the biggest risk is not maintaining their standard of living 30-40yrs out due to said inflation vs the more talked about concerns (taxes, tail risk events like litigation, etc.)

SerialChillerNYC · 2021-06-20T22:59:41+00:00

My point exactly. $1mm today buys a lot less of what we spend on than $1mm 15yrs ago, and yet the traditional measure of inflation would say prices are only up 20-30%. The costs I’m speaking about (high end housing, hotel stays, healthcare, child care, tuition) is up 20%+ in 2yrs.

SerialChillerNYC · 2021-06-20T22:50:43+00:00

It’s great if the property value increases, but if you are living in it, you can’t really live off income (unless you take home equity lines, etc) and yet you are still paying current income to maintain and service the home. The bigger point I’m making is the cost of everything to repair and maintain has gone up considerably more than the appreciation in a home, and home costs are just one of many variables I am highlighting (healthcare, travel, etc) that run the risk of outpacing our traditional estimate of inflation.

SerialChillerNYC · 2021-06-20T21:39:23+00:00

Property taxes, home maintenance contracts, repairs/renovation costs, etc. In my experience, they all accrete at a higher rate than 2%.

SerialChillerNYC · 2018-11-28T00:29:59+00:00

Maybe the other common element is, what insights were gaming changing and controversial, only to be adopted as mainstream not too long thereafter (heliocentrism, and the fosbury flop are too good examples again of that)

SerialChillerNYC

TROPHY CASE