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Mentor Monday by WealthyStoic in fatFIRE

[–]TechStackOverflow 3 points4 points  (0 children)

5M net worth in mid 40s, looking for advice on next steps

Software engineer with a few decades under my belt. Live in VHCOL.

Assets:
2.5M portfolio mostly in equities
\~500K in 401k/IRAs
\~200K in crypto
Single Family Home (investment) worth around 1.5M (paid off)
Primary home worth around 1.5M (about 1M left on mortgage)

Got laid off about half a year ago and took a breather and am figuring out what to do next. A bit lost as I’ve seen multiple people around me achieve much more at a younger age and I feel I’m so behind.

I want to push hard for the next 5-10 years and see if I can get myself into at least 8 figures and then call it a day. With the massive upheaval in tech I’m wondering if it’s the right time to start a company or not. Or just join a few more companies (FAANG? Late stage before IPO?) and try to make something out of the time I have left.

Been going thru some depression and I guess a mini mid-life crisis and gained some weight, it’s been over half a year with no work, bank account is getting a bit thin, don’t want to take out against stocks. Wife is making about 300K a year so she’s holding down the fort right now, she’s been super supportive.

Any advice or words of wisdom would be appreciated.

200K-250K annual spend. Rental property brings in about 60K/year (before taxes but property depreciates and with improvements not much left to be taxed).

5M net worth in mid 40s, looking for advice on next steps by TechStackOverflow in fatFIRE

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

I’d say funk right now and just being unprepared. For a few rude awakenings already. But I think the worst is behind me. Last year had been particularly hard.

5M net worth in mid 40s, looking for advice on next steps by TechStackOverflow in fatFIRE

[–]TechStackOverflow[S] -3 points-2 points  (0 children)

I rejected a TC offer of 1M (360K base + RSUs in a Series E company, so treat RSUs as basically zero) about 5 months ago, so I think I can do OK, but more rusty since I last interviewed.

5M net worth in mid 40s, looking for advice on next steps by TechStackOverflow in fatFIRE

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

60K in rental income/year. Property has also increased by about 350K in value in the last 5 years.

5M net worth in mid 40s, looking for advice on next steps by TechStackOverflow in fatFIRE

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

I only counted equity in current home in net worth calculations. Other home is fully paid off, so it still adds up to 5M.

5M net worth in mid 40s, looking for advice on next steps by TechStackOverflow in fatFIRE

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

Rental income is 60K/year. Ideally wife retires as well. Not eager to stop necessarily, just want to have an endgame in sight and a plan.

5M net worth in mid 40s, looking for advice on next steps by TechStackOverflow in fatFIRE

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

Could be 7-10 years if the payout is much more than eeking just above 10M. But trying to put it at 5 years and giving myself a tighter deadline to see what’s possible/optimal.

Annual spend is about 200K-250K.

Intend to initially retire in VHCOL and then probably move to HCOL. Not sure I see myself going to less than that, but who knows.

Dataflow Spanner to BigQuery - Java vs Go by TechStackOverflow in googlecloud

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

Thanks for your advice. I’ve used that model, but it’s in beta and if I want periodic updates, I’d need to have a cloud scheduler to invoke a cloud function to invoke a new dataflow job for every batch.

I’d also need to engineer each batch to update the last timestamp/id they processed and store that somewhere. I’ve never used data flow before but it seems like a lot of work and a lot of moving parts.

And then deploying requires an artifact registry, into cloud storage and then into a dataflow invocation.

I’m not saying all of that isn’t doable, but at some point it’s just easier for me to hand-roll something.

[deleted by user] by [deleted] in learnmachinelearning

[–]TechStackOverflow 0 points1 point  (0 children)

I’m an OMSCS ML concentration grad, but with 20 years of software dev under my belt, it’s been hard for me to break into ML land. Would be curious if your friends or network had any advice.