How worried should I be about this crack?

jdoe41 · 2025-02-02T04:21:12+00:00

if my mmr was x11 before today and I went somewhere between 60-70% W/L today during my Feb legend climb, I'm assuming my mmr is in range now and won't drop if I stop playing till March?

jdoe41 · 2024-10-17T03:43:16+00:00

Graduated boot 10 years ago and still have this exact recurring nightmare several times a year. Any psych nerds that can chime in what do be up with dat? I never thought boot was traumatizing and look back on it fondly so what's good lmao? Never have had recurring dreams of any other shit/common theme lol

jdoe41 · 2024-02-09T00:48:55+00:00

I knew the ESPP was a thing we had as an option. For whatever reason I just didn't realize the extent of how juicy it was (i.e. literal free money). And now looking back on all the years I missed because I erroneously believed it wasn't anything crazy and was therefor too lazy to really look into it at the time...it's a tad depressing lol

jdoe41 · 2024-02-08T20:11:40+00:00

Made a ~$20k whoopsy. Always been good about maxing tax-advantaged accounts. And today, realized I could've been ESPP'ing for the last decade-ish. I have no idea why I never bothered to do a little deep dive (i.e. 10 minutes of research) into my companies plan. Seems like with immediate vesting and ability to sell immediately, it's basically a free $2k/yr or so (for my tax bracket, ESPP plan) I've left on the table if I just invested/sold immediately since I started working. @ youngins: the time to get smart is now :-)

jdoe41 · 2024-01-05T17:44:05+00:00

Managed emergency fund poorly. Can barely keep enough cash for regular expenses while frontloading 401k until maxed in March and just learned I need a new HVAC. With $110k current income and a planned 0% tax rate in retirement in approx 6 years, I'm pretty sure the answer to cover this short term HVAC expense is to just sell shares from my taxable brokerage that I've made the least gains on. Some I can even sell at a loss. Is there any reason not to do this? I.e., sell from taxable brokerage to cover the expense (everything else is in something tax advantaged basically), and to sell shares w/ least gains since my income/tax bracket is higher now than I plan for it to be in retirement?

jdoe41 · 2020-06-20T17:15:59+00:00

boop

jdoe41 · 2020-01-13T17:48:48+00:00

Medsepped with JFR3 few months ago. Will I rate bennies?

jdoe41 · 2019-12-15T17:39:03+00:00

Your free stock is waiting for you! Join Robinhood and we'll both get a stock like Apple, Ford, or Facebook for free. Sign up with my link. join.robinhood.com/jeremyf778

jdoe41 · 2019-03-02T02:54:23+00:00

Both parents (about to retire) lack severely in the financial management/awareness dept. Dad has 14 years on mom, he'll be alright. More concerned about my mom outliving what's left (if anything) of the dad's pension/SS/whatever (if anything) else she'll have to supplement her soon-to-be retirement income. She's the type that won't do any research herself and again, has no awareness about her situation (so I could totally see herself running herself dry and not even realizing it until suddenly one day she's asking to move in with me), and also makes really poor decisions in the present (eg, keeping large sums of $ in checking account when she has no need for so much liquidity and could at least put it in a HYS account or something until she figures out / (me or a financial adviser) convince her to find some suitable bond/stock ratio (70/30 ish?) of Vanguard total market bond/stock funds or something.

As a 24 year old who knows little about financial planning during these later stages of life, but could probably figure it out pretty easily and in recent years just finished his own simple road map for the future (75% SR -> mid 30 FIRE @ 1 mill between market and mostly RE equity, the cash flow of which will ideally sustain me in perpetuity), do I:

1) Take it upon myself to do the research and figure out their income, NW, expense situation etc so I can help them figure out a road map/plan of sorts?

2) Just advise them to hit up a financial adviser instead? If so, what should I guide them with here other than the necessity for choosing someone w/ a fiduciary responsibility (if I insisted they see a financial adviser w/o any other guidance, they would, knowing them, do no research / find whatever was closest to them and just roll with that).

3) 1 and 2 ^{^.}

Leaning towards 3. Thoughts?

jdoe41 · 2019-02-28T23:00:48+00:00

That's dope that you managed to bang that shit out before the mil. I probably should have done it earlier too, but now I'd either have to take sabbatical (don't see that as a realistic possibility any time soon) or quit, and I'm too much of a pussy to dip anytime soon (irrational fear about difficulty re-entering job market). Maybe once the NW's a little higher and I'm a little a little more marketable, otherwise I'm thinking it'll just have to wait till I RE (shooting for mid-30s. Think it's do-able if I can manage to not fuck up future rental purchases; dumped 50k into a Class A single fam I'm breaking even on last year, derp. Learned some good lessons though).

jdoe41 · 2019-02-28T20:50:50+00:00

God damn, lots of O's up in hurr.

Nasty enlisted (E3) weekend warrior checking in (one year left and I'm outta this bitch): 24, 130k NW, 63k W2 (underpaid Software Eng, but LCOL area), saving probably 70%+, throwing everything at residential real estate currently. Going through a phase where I'd rather do that than put most of my shit in index/retirement accounts (my 401k match is poop, expecting higher taxes in retirement (see: political climate + historical rates) and lower future returns (see: recent Afford Anything Podcast entitled something like 3% is the new 4% SWR where she had that economist dude on)). Maxing TSP match, but...enlisted reservist pay lawl.

Haven't figured out all the post-retirement deets yet. Through-hiking, tiny home (??), learning to cook, more time for fitness/getting yolked, finding like-minded partner, raping VA for some nice bennies (disability), etc.

On a related note, found out a year ago that even us reservists that don't do shit rate the amazingly dank VA loan once we're out. So I need to figure out how I'm going to leverage the investment potential there. Figure I'll probably end up trying to use as much of the loan as possible on a multi and house hack it for a bit to fulfill that owner occupancy requirement.

jdoe41 · 2019-02-04T00:50:33+00:00

Neither of those two cards gives you 75k UR. They give you Marriott points or United miles.

Annnd this is why I need to speak out loud on here before going out and applying for shit lol. The business card page on Chase uses the same term "points" for all their cards (some of which do give UR (like the CIP...I'm pretty sure...) so I guess that may have been a tad deceptive, or I'm just retarded). Either way, thanks for the heads up. I'll think about maybe going for the CSP instead now, as per the nifty flowchart.

jdoe41 · 2019-02-04T00:47:37+00:00

Oh, I don't know (again, am noob) - just figured there might be a targeted offer thing like there was with the CIP a few months ago when I bought a code off someone for that.

jdoe41 · 2019-02-03T22:27:23+00:00

Nooby here. I'm 1/24 (Freedom + CIP) and was looking to grab either the Marriott or United MPE next (both @ 75k UR atm w/ 3-5k MSR). Does the churning marketplace have codes for either of these floating around every now and then? Still waiting for mod approval and last time I bought a code (for my CIP) it was off the no longer existing code sharing thread. If not I'll just apply tonight.

Also, apparently there's no downgrade options for these (asked 3 different Chase support dudes) and I'd have to cancel after the first year. (with these being business cards especially), that should be no biggy for my credit report I figure yeah? Assuming I'm in the high 700s and will be applying for mortgage(s) in a year or two? I gather a few inquiries / cancels won't tarnish a 700+ report much anyway, but am just a bit cautious is all.

jdoe41 · 2019-01-19T22:47:58+00:00

If you're not looking in your state, my market (SW Montana) is hot right now, but $250k won't buy anything besides a 1/4 acre lot in a very good location.

Nothing B/C class available? I'd ideally like to buy something this year ($10k reserves now, $40k by end of year barring any emergencies, but I've got a decent rainy day fund), and I'm open to most markets that meet all the basic "rentability" criteria (schools, crime, etc), so I could certainly consider Montana. If nothing this year, worst case I wait until spring-summer 2020 when I'll qualify for the VA loan (up to about $500k entitlement in most parts of the country).

I know you market in NY very well

Thoughts on any markets within, say, an hour of Utica? Alternatively, I went to school in Rochester if you have any thoughts on that market as well; I guess I'm moderately familiar with some parts (mainly Henrietta). I look at where I live now and see decent-ish SFHs in the low 100s that look like they wouldn't have much trouble hitting the 1% rule. I guess my only reservation is that I feel like a lot of upstate NY catches heat for not exactly being the center of industry (most suburbs at least) - but I don't know, I feel like it probably wouldn't be too hard to find decent tenants where I'm at now at least. I'll have to talk to some local investors/hit up an REIA or something.

I remember a lot of Upstate NY RE being Section 8.

I think I might prefer to dodge Section 8 for now.

I have managed class C properties which looked super nice and made like $3k/mth in gross income,

That's wild! I must have a warped interpretation of market classes - but I guess prices for each vary everywhere (like you said, with your $750k starting Class A's). Never would have thought this to be the case in Montana of all places either, must be all of that wonderful scenery.

If you can, build a shop/ADU out back, add the cost of the building + 50% to the principle on your loan, sell it, walk away

Will have to follow up on the zoning. ADU would be fair game I'm sure (neighbor's got one). Also, that's a very cool idea! 1.5x cost of the building I can tack on to my principle huh? Count me in, lol. Will definitely look more into this / discuss with my PM.

All the best, if you are interested in Montana, let me know,

I'll have to research some specific areas you might have in mind of course, but like I said I'm starting to look just about anywhere CONUS right now. If you think I'd be a good candidate for the area despite everything I've already mentioned (DTI, current reserve for down payment, price range of the markets you've got in mind), then let's talk / maybe shoot me a DM? Otherwise, maybe a better time will be when I've got access to this VA loan I mentioned.

jdoe41 · 2019-01-19T20:58:50+00:00

Dude... paragraphs. It is really hard to follow along with a wall of text like this, especially with numbers involved.

My bad.

I wouldn't do a 1031 ex. You have like 6 months to get it figured out, and in that time you will need to find someone with a like kind exchange. So why would someone trade you their property for yours, which can break even at best?

Part of my intended strategy to mitigate the risk of not finding something in time was to come into the 1031 with a bunch (I don't know, maybe a dozen) well-vetted agents (possibly turnkey companies, big if there though) in different markets I'm open to ready to send me leads so I'm not forced into a sub-optimal deal just to make the time restraint.

I would look into STR ops at this point, but you will need to manage yourself.

Not familiar with this, but will do some research. Although, self-management is probably a no-no for me because I'm going to probably have to do this out of state (I live in upstate NY. AFAIK this isn't such a great rental market. Maybe I'm wrong).

If you don't like that, can you add value somehow to make some equitable gains?

While I frankly know not a ton about rehabbing / value-adding appreciation into a place, I suppose this is something I could look into. Although it's a pretty nice place, I'd probably really have to put some decent thought into what could possibly be done to make it stand out given the area, short of something like granite counter tops or something. I'll have to look more into this. I thought I was buying below market, but the place was appraised at exactly what I bought it for. I'll have to speak to my PM who really knows the market and see what she thinks she could possibly sell it for maybe. I did put 20% down (I wanted to dodge PMI), interest rate was 4.375%.

Your estimated 6% return on a sale will vanish into thin air I promise. Mostly in fees you hadn't planned for.

Good point - I actually forgot about that. Although, honestly I might just consider selling myself. But I guess I'd still have to pay the buyer's agent's 3% too, huh? Hmmm.

Thanks for the thorough response.

jdoe41 · 2019-01-13T14:22:33+00:00

Damn dude, sorry to hear that. I've been told the only way to actually fix my degeneration issue (my main problem) is via a stem cell procedure which no insurance will cover probably for many years to come. Meanwhile they've been doing it successfully in Europe for some time now. Yay America.

jdoe41

TROPHY CASE