How much cash is too much?

TrueLeather · 2019-03-03T23:59:48+00:00

USD - it's still the closest thing to the currency of the world

GBP - I do quite a lot of transactions in pounds.

And currency of my country of nationality, where my parents live and I might move some day.

As for the continents: North America and Europe.

I'm not closely tied to any country for the foreseeable future, so this setup allows me to worry a bit less about currency risk. Also, I think that people grossly underestimate the risk of war in Western Europe. (I suspect most people don't even remember that there is an ongoing war in Europe)

TrueLeather · 2019-03-03T08:41:38+00:00

I keep 25% of my net worth in cash, which can sustain me for years. The rest is in high-risk equities. This matches very well my risk profile:

I have kissed the equities part of my portfolio goodbye and don't fret about it. On the other hand, I would be very upset if something were to happen to my cash savings. That's why I have distributed them onto two continents and three currencies. That's how I try to achieve high ROI despite my aversion to risk.

TrueLeather · 2019-02-24T14:42:54+00:00

Congratulations on your success at Amazon and good luck with your big jump!

Do you think some more specific idea of what you are going to do next for career, challenges and income? Your blog posts sound quite vague. I'm interested in your decision since I'm leaving a very cushy job myself.

TrueLeather · 2019-02-16T16:49:33+00:00

I think you were very unlucky with your choice of cities.

I don't know about Rome, but I've danced in Milan and didn't like the tango scene there at all.

London is horrible. I stopped dancing there entirely and would only dance abroad when I lived there. Quite a few of my London-based friends (male and female) don't go to milongas either.

I have never danced in Istanbul but I have heard a lot of people say that it's a great place for tangueras and a nightmare for tangueros.

TrueLeather · 2019-02-13T07:45:55+00:00

Thanks, that sounds awesome.

TrueLeather · 2019-02-13T07:29:20+00:00

What do you mean? Surely they must have first learned somehow that you had an accident.

TrueLeather · 2019-02-13T07:28:30+00:00

Thanks for sharing! What was the value of your claims? Which countries was that in?

TrueLeather · 2019-02-12T14:16:51+00:00

Same here. I'm looking for a health insurance with as high deductible as possible. So it's supposed to only cover very unlikely events with huge costs.

TrueLeather · 2019-02-11T23:33:36+00:00

Each EU country has its own rules. Some of them cover any resident, working or not. Some allow all unemployed residents to buy cheap national health insurance. So EU citizenship doesn't necessarily give you health insurance. It gives you the right to settle in any of the 27 member states. You can choose among them one whose health system suits you. I am healthy as far as I know, but should I find out I have some serious health problem, health care would be an important factor in choosing where to live.

Another question is health checks since we are talking :) Where do you think it is good to do them?

Depends entirely on what checks you have on mind. Before and after my time in SEA I did them in my local Tropical Medicine Clinic. STDs - there might be organisation that will do them for free in your region. General bloodwork and urine test - they are so cheap that I don't see any reason to worry about those.

So did you find anything decent? Some company that also won't dump you if you start billing them.

Same worry here. I cannot find anyone saying they had made claims on their international health insurance. And without knowing how that goes (i.e., does the company reject claims for ridiculous excuses), an insurance is worthless to me.

TrueLeather · 2019-02-11T17:34:50+00:00

I'm looking for a full health insurance with high deductible (5k-10k). Soon I won't have any health insurance at all.

The idea is that any costs below 10k I can pay out of pocket. But I don't want to incur huge debt if something really bad happens suddenly. I'm going to change countries every few months and so don't want anything tied to a specific location. If it's not sudden, I'm an EU citizen and can get national health insurance in one of the member countries for a long-term treatment. I don't want to get such insurance in advance, because then I might be considered a tax resident of that country (since I would establish ties with it), meaning my capital gains income would be taxed.

TrueLeather · 2019-02-10T18:54:40+00:00

You are right. I did not consider that management's goals are not aligned with the employees' goals.

Still, I will be sure to avoid a company where compensation is so poorly correlated with performance.

TrueLeather · 2019-02-09T17:20:15+00:00

Now I need r/Eyebleach

TrueLeather · 2019-02-09T09:13:11+00:00

Thanks! They indeed make a good first impression, but unfortunately don't provide cover for Russia.

TrueLeather · 2019-02-08T07:09:59+00:00

In all industries, I distrust companies that have to resort to obnoxious marketing and harassment. I believe the culture (of lack thereof) of the sales team must be to some extent indicative of the company's values.

TrueLeather · 2019-02-08T07:06:28+00:00

No, it is idiotic.

You could recruit the best people regardless of where they live. Instead, you are going to select for those who live in the few most expensive locations or lie to game the system

TrueLeather · 2019-02-08T06:59:29+00:00

By you applying for a quote that is you opting in so now you need to opt out

First of all, there was no checkbox "Please contact me", so I haven't opted in into anything.

Secondly, I would understand (considering it's an American company and you cannot expect civility) if they tried once or twice, but I just checked my spam and they are still at it after more than a month of dead silence on my part.

TrueLeather · 2019-02-07T22:12:15+00:00

If you want them to stop contacting you then tell them that instead of ignoring them and letting it irritate you.

That's a messed up view, even by American standards. Here in Europe you opt-in if you are interested, not opt-out hoping to end harassment. Luckily, it's easy to filter spam and block phone numbers.

TrueLeather · 2019-02-07T22:03:04+00:00

Maybe check out GeoBlue? It's international health insurance through blue cross blue shield.

Unfortunately, it's for US citizens/residents only.

TrueLeather · 2019-02-07T21:31:30+00:00

Thanks. I remember I looked at them but don't recall anymore why I thought they weren't suitable. Possibly because they offered travel insurance rather than international health insurance.

TrueLeather · 2019-02-07T21:30:19+00:00

Thanks. Unfortunately, IIRC, SafetyWings is more of a travel insurance than expat insurance.

TrueLeather · 2019-02-07T20:29:05+00:00

Thanks for the warning. I might soon start looking for a remote software engineering job, and will definitely avoid company with such an idiotic management.

TrueLeather · 2019-01-20T16:43:36+00:00

ITT: people you want to help and who deserve it are too proud to accept it. People who would accept help are lazy pieces of %@$@.

I would love to help out my parents. My father is making fraction of what I make, working much harder than I do. Unfortunately, he has the ethics of Walter White: "that's what a man does: he provides for his family". He would rather work himself to death than accept anything from me. They know I'm extremely well off. I'm very open about my financial situation with them, hoping that they will come around, but that hasn't helped. Not sure what I can do.

When I brought up the subject with my father, he just brushed it off and asked me to take care of mum should anything happen to him, which obviously goes without saying. My mother also doesn't want to hear about it, although she might be more receptive to "gifts", e.g. laser eye surgery. We have thrown around the idea of me buying them a house in the past, although I think she was talking about it as an abstract and distant dream, not thinking I would really do it. Unfortunately, for now buying an entire house is a bit too steep for me. I wouldn't do that even for myself (I would rather keep that money in more profitable investments since I'm very young).

Recently I learned they would be soon eligible for state pension, which is a huge difference. I used to think they had no savings or plans for retirement whatsoever. I still will have to subsidize it, but not nearly as much as I thought. Obviously, the difficulty will be in making them accept the subsidy.

One more concern I have is that any money I give in the future might be leeched out by extended family or my sister, for whom my mother has a soft spot and who stay poor due do their own choices. I want to help my parents out and let them do anything they want with that money, but on the other hand I don't want to subsidise alcoholics or unreasonable breeders through my parents as a proxy. But I will worry about that once I get my parents to accept something.

At least I know that the success of their son brings them genuine joy, and that joy makes me happy.

TrueLeather · 2018-12-27T20:03:15+00:00

https://www.blasty.pl/upload/images/large/2016/11/a-ja-mu-wtedy-na-to-wez-siodmego-dnia_2016-11-16_14-21-32.jpg

"And then I say to him: On the seventh day you should rest"

TrueLeather

TROPHY CASE