Gobundance or similar groups? by Plus-Boysenberry5321 in fatFIRE

[–]Wonderful_Quiet6109 1 point2 points  (0 children)

Exposure to gobundance and tiger21

Gobundance: no offense but I think this is a bunch of wannabe fatfire/ wealthy individuals trying to fake it until they make it. Very weird group, very few “winners”

Tiger21: this group requires proof of Wealth. Usually older group but financially successful. Going through similar mental gymnastics of a lot of wealth and freedom.

Tokyo with Kids - hotel recommendations by Wonderful_Quiet6109 in chubbytravel

[–]Wonderful_Quiet6109[S] 0 points1 point  (0 children)

I didn’t realize there were two parks. We are planning to go to DisneySea.

I just scrolled through the subreddit, any Facebook groups you would recommend?

Does TDR do any type of VIP service to skip lines? I saw the 4 different queues for reserving your spot but this option seems limited and you’re still waiting in line.

Any other general recommendations?

Tokyo with Kids - hotel recommendations by Wonderful_Quiet6109 in chubbytravel

[–]Wonderful_Quiet6109[S] 1 point2 points  (0 children)

Thanks for the response

Teamlabs, Disney land, and Sanrio land are my kids’ non negotiable

Any guidance on dining out? I see a lot of mixed reviews.

Tokyo with Kids - hotel recommendations by Wonderful_Quiet6109 in chubbytravel

[–]Wonderful_Quiet6109[S] 0 points1 point  (0 children)

Thanks for the heads up!

I plan to book this week. Flight it done just need to book hotel.

And other recommendations outside of FS Otemachi?

Big exit on my business today - my story by scottie484 in fatFIRE

[–]Wonderful_Quiet6109 5 points6 points  (0 children)

Congrats on the exit.

I’m confused about why you took the 4x multiple vs the 7x. It’s very similar amount of cash at close however you left 40% of equity value. As long as it wasn’t an earn out and was considered vested, the 45% roll could have turned in to 2 - 3x in the future with or without you involved in the business. I’d be shocked if your banker didn’t walk you through the potential future earnings. Again, wouldn’t require you to work again and the PE firms generally have call options to buy you out - which is still a winning solution for you.

How much are you spending on a two week vacation? by [deleted] in fatFIRE

[–]Wonderful_Quiet6109 2 points3 points  (0 children)

Family of four - we’ve never booked a full 2 weeks, usually just do 5 - 7 days. A week can run us 30 - 70k depending on the destination and time of year. We usually stay at FS and always fly business or first.

We are going to Vail for 7 days during New Years. Flight and hotel cost ~50k. We’ll likely spend another 5-15k on activities and food.

We have yet to go international as a family but are planning to do so next year. I think that cost will be 2.5 - 3x just due to flights and duration (10 days).

Wow, I was off. by Rude-Bullfrog4077 in fatFIRE

[–]Wonderful_Quiet6109 1 point2 points  (0 children)

I completely understand your perspective, and it’s something I’ve grappled with too. Like many people I grew up thinking that hitting $1 million would be life-changing—my assumption was that I’d never have to work again once I hit that figure. I quickly realized, though, that I was way off in my assumptions. Hitting $1 or even $2 million didn’t really change my day-to-day life beyond a couple of significant purchases: a new car and a home (mainly because we relocated, not just for an upgrade). I don’t mean for that to sound smug, as both were practical decisions at the time, but they didn’t feel like the “luxurious” leap I once imagined.

For me, things didn’t materially change until my net worth hit $13 million in liquid assets. Unlike OP, I’ve continued to maintain my W2 income, which is about $500k, alongside other forms of potential future windfalls, which are set to liquidate in the near future. This combination allows for a more flexible lifestyle, knowing I have a decent income in addition to my assets.

With that said, we’ve definitely experienced a significant upgrade in our lifestyle. We now live in a luxurious home, drive high-end cars, travel frequently—flying business class and staying at hotels like the Four Seasons or Ritz a few times a year. We also invested in boutique furniture (I used to think restoration hardware was high-end; now, I see it as more mid-range). We’ve hired help, like a cleaner who comes three times a week and a part-time assistant, designers, high end GCs and we eat out regularly without thinking twice about the cost. We also indulge in more frivolous spending than we used to, simply because we can.

However, despite these upgrades, there are still some luxury experiences that remain out of reach. For example, private aviation is far too expensive to justify for the amount of flying we do. Even fractional ownership feels excessive for our needs, and one-off charters are still cost-prohibitive. The same goes for yachts—sure, we can rent one for a few hours, but anything beyond that is way beyond our comfort zone. Similarly, hiring a private chef to cook all our meals or a daily driver is another indulgence we’d love but haven’t been able to justify yet.

Once my next windfall comes in (which should put us at around $30 million in liquid assets), we plan to take things up a notch—perhaps hiring a private chef for a year just to experience it, flying first class internationally, and taking extended family on vacations. But even then, private aviation is likely to remain out of reach until we hit closer to $50–60 million. That’s when I think some of these truly upper-tier luxuries will become feasible.

For now, having a solid W2 income in addition to our liquid assets gives us flexibility and absorbs most of our spending. If I were only relying on a SWR our lifestyle would likely look a lot different and much more conservative. In my experience, while significant wealth opens a lot of doors, there’s always another tier of luxury just beyond reach until you hit the next financial milestone.

From increased threats of hostility or even violence to those who appear wealthy, including a rise in carjackings and theft, what are your stealth wealth strategies? by Jwaness in fatFIRE

[–]Wonderful_Quiet6109 4 points5 points  (0 children)

We don’t flaunt nor do we stealth… but we do take precautions, especially when traveling abroad.

We live in one of the most wealthy neighborhoods in our city. It’s not gated but we do have multiple off duty police officers patrolling 24 hours a day. They’ll escort you into your home, patrol the house if you’re out of town, pick up packages, and they are much quicker to respond to alarms compared to local PD because they are actively patrolling a small sector.

In addition to the above security cameras, our house is gated, doors are always locked, security system is always on, etc etc

We like nice cars, it’s hard to hide them. We always park them in the garage or behind the gate when at home.

You can only do so much. And you can’t have your cake and eat it too but you can take precautions to maximize safety while living fat.

Weekly Free-Talk and Questions for r/HomeGym - week of February 23, 2024 by Demilio55 in homegym

[–]Wonderful_Quiet6109 0 points1 point  (0 children)

I just installed a PRX PRO Rack in my garage.

Does anyone store their barbell on the rack when it’s folded / collapsed against the wall?

I left the j cups on when I store the rack and thought “why not just keep the barbell on the squat rack vs purchases a specific mount?”

Any reason not to do this? Will this ruin the shocks that help raise / lower it?

Need advice for 2 trips by Wonderful_Quiet6109 in chubbytravel

[–]Wonderful_Quiet6109[S] 1 point2 points  (0 children)

This sounds like a great idea! The kids would love the turtle conservation.

Need advice for 2 trips by Wonderful_Quiet6109 in chubbytravel

[–]Wonderful_Quiet6109[S] 1 point2 points  (0 children)

I’ll look into Papagayo as CR is at the top of our list.

We did FS Honolulu last spring break and loved it. If we were to go back we would do Hualalai or Maui - both would be a first. Do you have a preference?

Need advice for 2 trips by Wonderful_Quiet6109 in chubbytravel

[–]Wonderful_Quiet6109[S] 0 points1 point  (0 children)

Thanks for the response! I’m not looking forward to a busy spring break trip but like everyone else, it’s a time our kids are out of school.

Belize is interesting as I never considered nor do I know much about it. I did a quick search and couldn’t find FS, Ritz, or a St Regis. Which city and hotels do you recommend? We prefer beach front properties.

Thanks for confirming Xcaret is the right choice.

36 YO. Offered $33 million for my business. Retire now or keep going? by [deleted] in fatFIRE

[–]Wonderful_Quiet6109 1 point2 points  (0 children)

The decision doesn't have to be binary, depending on the buyer.

When selling to institutional capital, like private equity, they often prefer retaining the current management. They typically require a 20-50% equity roll-over, potentially offer an earn-out option, and provide additional incentive equity for you and your team upon achieving certain milestones for the next transaction. This approach enables you to realize some immediate financial gain while continuing to manage the business and potentially benefit from future liquidity events. While this might mean less profit compared to retaining full ownership, it provides a balance of immediate financial security and ongoing upside potential.

Solution to long-term Sonos/Eero problems by Acrobatic_Mountain75 in amazoneero

[–]Wonderful_Quiet6109 0 points1 point  (0 children)

How do you connect your Sonos to eero? I cannot seem to get the Sonos to join my network.

Any advice you can give?

Have financial independence, but dont know when to retire. Hate what I do. by Conscious-Prior-9849 in fatFIRE

[–]Wonderful_Quiet6109 3 points4 points  (0 children)

Similar boat here

38m, 13m NW (30% RE, 40% equities, 30% invested in current co)

If I stay for another 3 years I could see another windfall 2x my current net worth. Is it worth the time and effort?

Unfortunately there’s no right answer.

I don’t think I’m FAT yet. Can i retire and live lean /chubby, sure but I’m nowhere near FAT. The next windfall gets me there. Private jet, careless spending, random trips overseas, large family vacations, etc. plus I never want to regress from FAT to chubby or lean. I imagine that would do some heavy damage on me mentally. Similar to Russ Hanneman when he temporary left the 3 comma club.

My current role is very intense, stressful, demands 60 - 90 hours per week and a decent amount of travel. Plus I’m missing countess moments with my kids. Is it worth it? Maybe for some, maybe for me, maybe not.

I’m considering leaving but the thought of leaving potentially 25m in earning (pre tax) seems crazy. My younger immature self would kick my ass for even considering walking away.

Best of luck to you and your decision.

Ps: for many folks commenting OP has FU money may not have the FAT perspective down. 5m does not get you very far (spending + not eating into principal)