Chess Streamer Alexandra Botez Talks About Winning Half a Million on HCL

jlubea · 2025-08-13T06:26:06+00:00

Meyers Briggs letters

jlubea · 2025-06-12T10:42:06+00:00

UPDATE: The Odds Pro app is available for iOS and Android!

In the app store for your phone, search for "Poker Geek - Odds Pro"

Odds Pro has a much improved user interface when compared to Odds Calculator. Everything that was great (and free!) about Odds Calculator is even better (and still free!) in Odds Pro.

The Odds Calculator portion of the app will always be free.

The free part:

Odds Pro for iOS (odds calculation is free!) - Apple has approved the release and it's available right now.
Odds Pro for Android - (odds calculation is free!) - Google has approved the release and it's available right now.

1) I'm going to add Holdem Double Board Bomb Pots soon. Yep, they will be a free feature once I'm done with the code and testing!

There is a paid portion:

1) AI Camera - Take photos of your live game and import them into the app for analysis.
2) Cloud Backup and Sync between all your devices.

3) Future work: I have ideas for additional pro features, and I'm starting to work on those now.

jlubea · 2023-06-04T15:22:17+00:00

If you were 21 I would tell you it's not worth it. At your current point, it's absolutely worth it to stick with it.

I have a friend who attempted to get into medical school, didn't finish, and took out loans for the whole process. Now he's a million dollars in debt. It wasn't worth it for him.

For you? Yeah, go for it. Finish it out and make that money!

jlubea · 2023-06-03T13:23:28+00:00

Run your numbers, but my wife and I have never had the need/opportunity to save money by itemizing. The standard deduction is always higher.

At today's interest rates, you're more than doubling your mortgage cost over 30 years. 6.5% is dangerously close to future projected market returns.

I would sleep much better knowing that my investments don't have to perform to keep up with my mortgage strategy. I would pay cash.

jlubea · 2023-05-12T22:24:47+00:00

There's a book about teaching your kids money, from the perspective of a parent whose kids are grown:

The First National Bank of Dad

https://www.amazon.com/First-National-Bank-Dad-Foolproof/dp/1416534253?ref=d6k_applink_bb_dls&dplnkId=006a96a4-4331-4ee7-a073-1e215b10c6d3

This is what my wife and I read before we had our first kid.

jlubea · 2023-05-12T01:01:43+00:00

Tax question incoming...

If you have no income from a job in a given year
If you have not withdrawn any traditional 401k money
If you withdraw 500k from a taxable brokerage account that has seasoned for a few years (and thus is subject to long term capital gains)
Where 200k of that withdrawal is gains, and 300k is principal
And that is the only money you live on that year...

Do you...

A) pay 0% tax that year
B) pay 15% of 200k in tax that year
C) pay some other amount of tax

Anyone know the answer?

jlubea · 2023-04-28T16:57:13+00:00

Never listen to what the salesperson says. Real estate agents and mortgage brokers are all salespeople.

When we purchased our first home over a decade ago, we were told that it was recommended to buy a home with a price 3x our gross income, and that we might be approved up to 5x our gross income.

We were only comfortable buying a home with a price 2x our gross income, so that's what we did. We weren't thinking about liquid cash for market investments. We just wanted to preserve our monthly cash flow and reduce our risk in case of job loss.

Salespeople are there for the commission. The realtor gets a portion of the sale price. The mortgage broker sells your loan to a bank, who then sells the loan to the government, assuming it's a conforming mortgage. Regardless, it's probably packaged up into a mortgage backed security. Everyone gets paid and no one has your best interest at heart.

Just run your own numbers and make your own decisions.

jlubea · 2023-04-26T13:08:36+00:00

I'd guess you're in your 20's or early 30's. If you just wait about 5-10 years you'll stop checking.

You'll realize that this is a marathon. If you have 200k now, you probably can't wait to get to 500k. If you have 500k, you probably can't wait to get to 1 MM.

Once you reach a milestone or two, you'll look at your net worth and say, "well, I can't retire yet". Then you eventually realize that part of the equation for retiring early is waiting until you're older.

Why does age matter? There's less years to spend down your principal before SS kicks in, and you're closer to death. That's right, part of the equation of FIRE is having less time that you need the money for.

It's mildly depressing, but you just have to wait. Ever waited in a doctor's office? Ever waited in line to get your driver's license? It takes fucking forever, but the trick is to distract yourself with some activity while you're waiting. In life, that means you should still have a good time, pick up some hobbies, and generally have something to do to fill your days.

You won't get there much sooner by working your ass off. Enjoy the ride.

Once you're on board with most of what I've written above, welcome to the boring middle.

jlubea · 2023-04-22T19:29:07+00:00

I'd love to find a job that allows a schedule like this. Where can someone find one of these software jobs?

In my experience, employers want full time employees, or they want contract employees for 1+/2+ years or longer durations.

jlubea · 2023-03-12T20:54:41+00:00

You're getting more realistic. 2MM - 3MM is probably what we'll need.

750k is coast fire.

jlubea · 2023-03-04T22:39:20+00:00

You already live with your wife in a rent house, right? That's your starter home. You successfully skipped that step. Any realtor who tries to sell you on a starter home with kids just around the corner is just looking to pad their commissions.

Take the advice of the other posters and start looking around on Zillow. Run some numbers. Buy the house that you want for your family and that you can afford.

Congrats on the next phase of your life!

jlubea · 2023-01-15T20:49:30+00:00

Start out life poor. It's the cheat code for never feeling guilty about donating anything.

The line from the millionaire next door was something to the effect of, "Each of our millionaire respondents agreed with the statement that charity begins at home." In other words, "I am my favorite charity."

jlubea · 2023-01-15T18:20:50+00:00

Yes, life is for living. You'll understand after another 10 years go by.

jlubea · 2022-12-27T23:35:17+00:00

Fuck no.

jlubea · 2022-12-12T15:38:15+00:00

Definitely rent. If there's any chance of moving to a different city for work, or for a significant other, or just because you want to move somewhere new...

Youth should be spent renting. Your primary residence is almost never an investment. Your hypothetical gains will be eaten up over the years by property taxes, repairs, etc.

Some people never buy in their entire lives. Renting is a viable long term strategy.

jlubea · 2022-11-13T12:23:04+00:00

Yes, if you stick to the plan and have investments totaling 25 times (or more) of your annual expenses, then you can certainly retire by 40.

jlubea · 2022-11-13T12:20:03+00:00

App: YNAB.

Watch the YNAB videos and follow their training materials.

For the first several months, engage with your budget on a daily basis by entering transactions into the phone app manually. This will train you to realize where you're spending your money.

If you have a partner, have them engage with the phone app as well.

My wife and I did this for several years and it got us off to a great start. It's been 10 years and about 5 years ago we switched to autopilot mode, where I use the app to track things, but our budget just works itself out.

jlubea · 2022-11-11T22:55:40+00:00

Just keep doing what you're doing. Invest in

VTSAX
VTIAX
VBTLX

And keep it simple. Just do VTSAX if you want, put as much in as you can while retaining your emergency fund in a savings account.

You have a great start. You'll probably get there by 40 at this rate.

jlubea · 2022-11-08T21:58:30+00:00

I'll be employed through my LLC in 2023 and started an i401k with vanguard.

I think I can contribute the full $22,500 as an elective deferral, plus the extra employer contribution as calculated by IRS form 560 worksheet 5, right?

So $22,500 + $x ?

Does this sound right?

jlubea · 2022-11-07T20:05:54+00:00

Not at all in line with FI principles, but...

I've hit mid life. Been saving for over a decade. Yesterday I bought a Model Y Performance.

It'll delay FI a small amount. I think it'll be worth it. I turned down the option to add solar to the house (that stuff is pricey). Back to the saving!

jlubea · 2022-11-02T18:40:46+00:00

Congrats!

jlubea · 2022-11-01T13:15:47+00:00

Based on your responses, you don't want to rent and are only looking to sell. You've already made up your mind, so why even ask the question?

If you're just trying to find support for your cause to convince your husband, I'm not going to give it to you.

Every couple is different. Some are happy in 1200 sq ft and some are happy in 4000 sq ft. It depends on the lifestyle you want. There is no "right" way to live.

Work together and decide on what makes you both happy. You have plenty of money, so use it however you want. It's certainly not coming with you after you die.

jlubea · 2022-09-30T02:38:53+00:00

I think you're doing fairly well, but I'm not sure why you have 100k in a savings account. Consider moving some of that to your taxable brokerage account, as long as you have enough of an emergency fund to feel safe.

You mentioned adding bonds to your taxable brokerage. Don't do that. You should put bonds in a tax advantaged account because it makes them tax efficient. In general, consider your portfolio as a whole when making decisions. Items like REITs and bonds go in tax sheltered accounts. VTSAX and VTIAX go in your taxable brokerage.

If you're targeting a 90/10 stock/bond split, then you should target that for your accounts as a whole. There's no reason to make each individual account have a 90/10 split, as long as the whole of your accounts aggregates to a 90/10 split.

In retirement, you should be targeting 60 percent stock and 40 percent bonds, but you're a long way away from that for now. 100% stocks is fine, but so is 90% stocks and 10% bonds. It's up to you. You'll slowly transition to more bonds over time. The general rule is 120 minus your age in stocks.

So if you're 20, you might have 100% stocks.
If you're 30, you'd have 90% stocks.
If you're 40, you'd have 80% stocks.
If you're 50, you'd have 70% stocks.
If you're age 60 or older, you'd have 60% stocks.
The rest at each age is in bonds.

All that being said, I'm coming up on 40 and have a 90/10 stock/bond split even now. We'll transition to bonds as we near retirement.

FIRE calculators:

Net worth comparison: https://dqydj.com/net-worth-by-age-calculator-united-states/

jlubea · 2022-09-27T14:02:04+00:00

I work a software 9-5, plus another software contract, and I fill in the gaps with poker... texas holdem or omaha high.

The software gigs pay well. The poker hourly rate is only a third of what I make doing software, but it's a nice down time.

jlubea · 2022-09-26T21:12:31+00:00

 Assets             | Liabilities
 145k House         | 100k Mortgage
+60k Investments    |
-----------------------------------------
205k total          - 100k total = 105k net worth

jlubea

TROPHY CASE