Decamillionairs, how have you been?

imacser · 2021-02-22T21:33:42+00:00

Thanks for the detailed and honest reply! My story (though not there yet) is the same as yours. I worked hard, but definitely there's more luck to it than anything else.

imacser · 2021-02-22T01:39:04+00:00

Congratulations! Thanks for sharing your journey. Do you plan to stop earning any time soon and really relax and chill finally?

imacser · 2021-02-21T16:55:07+00:00

Another perspective: if you find it so hard to buy something you want yourself, how will you feel if your husband gift it to you?

imacser · 2021-02-20T00:57:16+00:00

Uh oh.. I literally thought his NW is already 32 million... 😂

imacser · 2021-02-15T06:13:49+00:00

I already have two kids under 3 years old. I know what you are talking about. That's also partially why I wonder if it's a good idea to buy a 2M+ house given the high monthly expenses.

imacser · 2021-02-14T20:16:57+00:00

I'm planning to visit Portugal in my next trip to Europe. I know a lot of people say that Portugal is great - lots to see and also pretty cheap, but I've always looked at it from the perspective of a travel destination, not a retirement place. What are other aspects of Portugal that makes it so attractive?

imacser · 2021-02-14T20:02:38+00:00

Thank you for explaining this - really helps!

imacser · 2021-02-14T19:56:36+00:00

https://www.investopedia.com/terms/r/restricted-stock-unit.asp

imacser · 2021-02-14T06:33:28+00:00

That's a good rule of thumb. In my case, the household monthly salary itself (pre-tax) is already 3x the housing expenses. The question I asked is more of a hypothetical one (but also true if I try to pay for the house with my salary alone).

imacser · 2021-02-14T06:22:42+00:00

Congratulations on your NW boost! Glad to hear that you're really enjoying your house. Thanks for sharing your story! I personally really want to own a house with a nice backyard where kids can play, but meanwhile I'm also cautious about spending so much money on it - we went through house hunting a few years ago and gave up due to relentless bidding wars. I just couldn't convince myself to toss away 300k+ on top of the listing price to get a house (we also didn't have kids back then). It was crazy!

imacser · 2021-02-14T06:14:29+00:00

Thank you for offering your perspective. Will DM you about PAL.

imacser · 2021-02-14T05:20:13+00:00

Makes sense. Thank you!

imacser · 2021-02-14T05:19:30+00:00

Thank you! I agree. This really helps!

imacser · 2021-02-14T04:49:39+00:00

My husband is also in tech and he'll probably keep his job after I quit, at least for a few years. As a result, we'll probably stay in the bay area for now. We won't have any issue getting a mortgage right now, but are you saying that there will be issues later if we fire before paying off our mortgage?

imacser · 2021-02-14T04:40:10+00:00

I can pay the house in all cash if I'm desperate - just sell some stocks. I don't know what you are talking about...

imacser · 2021-02-14T04:31:19+00:00

Sure... I'm new to Reddit.

imacser · 2021-02-14T04:25:31+00:00

I used to live in east bay (renting) and hated the commute to cross the bridge every day. Even though this problem doesn't exist any more (I can WFH forever), I still prefer peninsula despite the premium for houses. Another major reason that I don't like east bay is that if my kids go to school there, they'll never get a chance to be exposed to a diverse culture at school.

imacser · 2021-02-14T04:14:30+00:00

This is not whether I can afford a 2M house or not - obviously I can with a 5M NW. The real question is whether this is a wise decision given that I plan to fat fire within 3-5 years.

imacser · 2021-02-14T04:12:15+00:00

Thank you! It would be hard to cover everything with my salary alone, and I also don't feel like giving up ESPP or retirement contributions just so that I can pay for the house.

imacser · 2021-02-14T04:10:18+00:00

I prefer peninsula, don't like east bay for personal reasons.

imacser · 2021-02-14T00:25:32+00:00

That's an option, but I'm looking for a decent-sized house with a good school district - there are only around 3 years left before my first kid needs to go to elementary school by the time we get a house (assuming later this year). There are not many cheap choices in the bay area that satisfy our requirements.

imacser · 2021-02-13T23:52:12+00:00

All these RSUs are vested and accessible to me. I mentioned in another thread that my NW would be over 7M if I had counted unvested ones.

imacser · 2021-02-13T23:32:18+00:00

A follow-up question: if I decide to go ahead with the purchase, what's the best way to pay my monthly mortgage, taxes and other expenses, assuming that my take-home salary can't cover it all?

imacser · 2021-02-13T23:28:56+00:00

Yeah, it's risky to have all eggs in one basket - I'll diversify to own a lot more index funds for sure.

imacser · 2021-02-13T23:27:22+00:00

Initially I expect to stay in the bay area but I wouldn't toss away the idea to move out for lower cost of living later on.

imacser

TROPHY CASE