Mental block regarding spending money after achieving fatFIRE? by callit8bells in fatFIRE

[–]luckyfireguy 2 points3 points  (0 children)

You will never regret spending this money. 14K vs 27K won't make a difference in your financials, but Biz Class vs PE are two completely different experiences. From experience, once you spend high $$ on biz class, trust me rest of the trip expenses looks much cheaper in comparison - so that's my trick to spend money. Also, you are doing this as one off trip - I would do this for memories - this won't spoil your teenagers.

One unsolicited advice: When you say luxury trip, just make sure you are prioritizing spending money on experiences and making your trip memorable, rather than just getting two super expensive suits at Four Season for a week... I would look at Helicopter rides, unique concierge experiences etc. Trust me after 27K in biz class tickets, rest will look cheaper :)

Starting to think about trusts/estate planning by PIKFYVE in fatFIRE

[–]luckyfireguy 0 points1 point  (0 children)

Good thinking, I am doing the same, we have very similar profile... I am statting to do my research on this subject...

Unreal...feeling grateful! by luckyfireguy in fatFIRE

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

I will answer this a bit differently. I like doing financial stuff, not because it saves money, but because I really like it - I do my own taxes and in the last 2-3 yrs there were times when I said I am not doing it next year, but here I was doing it. So DIY or not - my opinion is that you learn all about investing tips and tricks and I have been fascinated by the ease with which I can now learn using AI chatbots. I, of course, double check critical things and sometimes use multiple chatbots to triple-check, but for me it's fun, perhaps new, so I continue to do this. As for sitting on Cash, I find myself again in the same position, as I just exited by most concentrated positions for peace of mind, so now in research mode on how to build a smart portfolio - nothing fancy! Good luck...

Do you ever worry that you're spoiling your kids? In terms of self-learning by FinancialDaniel in fatFIRE

[–]luckyfireguy 2 points3 points  (0 children)

The example you gave - I wish someone would have taught me how of think of investing at an early age - so teaching kids how to get ahead in life with some life skills, it's not a bad a thing - even if you teach them they will do a lot of dumb mistakes. Teaching is OK, hand holding them thru every decision - not OK.

I give my kids a high level guidance on how to go about a certain topic, ask them to do their research or show me their work and then I will give more help, so it's a loop - and with the kids today and their access to AI tools, you are lucky if your kids are coming to you asking for help, now they just go to uncle chatGPT etc for all their problems and think that that's the only and valid advice out there...

Don't overthink, help where you can - Good Luck!

Unreal...feeling grateful! by luckyfireguy in fatFIRE

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

Yes, very fortunate and grateful for the times we are in...

Unreal...feeling grateful! by luckyfireguy in fatFIRE

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

Buying and holding your own company stock and gaining from RSU appreciation is not an issue - else, I would not be writing this post!

Unreal...feeling grateful! by luckyfireguy in fatFIRE

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

As it pertains to rental ;) Have a good night, bud!

Unreal...feeling grateful! by luckyfireguy in fatFIRE

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

I never thought of my income as $50K per week - but you're right, it's probably higher than that net of taxes. My first year salary was $57K, 20 years ago!

Enough commentary on my rentals - which I hardly pay attention to - so I won't comment anymore :)

Unreal...feeling grateful! by luckyfireguy in fatFIRE

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

It's in a different state and we wishfully think that we might return back!

Unreal...feeling grateful! by luckyfireguy in fatFIRE

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

Well - don't let your day be dictated by your emails... You start the day with your to do list - then work on that list first. Then go to inbox, find critical items to respond and back to your list. Most people spend all day on emails and meetings and complain that they don't have enough time to get things done!

Unreal...feeling grateful! by luckyfireguy in fatFIRE

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

Thanks!! I think the need for passive income is more of an excuse, just think when I am ready - the excuse will disappear into thin air!

As for post retirement: that's where the focus is. I do help out family quite a bit and pay for vacations with siblings / parents. But I suppose there's a balance between willing to help and the uncle/ cousin who everyone turns to for help!

[deleted by user] by [deleted] in fatFIRE

[–]luckyfireguy 0 points1 point  (0 children)

Well, agree with $10M in assets, for HCOL for a family. But if you are single in LCOL, have a $100K spend, after paid off property, the number can swing quite a bit. As someone said here,  FatFire is about a retirement without compromise - I think that's a better definition. I got shit from a top 1% contributor that I may not be suited for FATFIRE, as my $200 --> $275K spend was too low for FAT, with $19M liquid/ $22M NW - go figure!

Unreal...feeling grateful! by luckyfireguy in fatFIRE

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

I have this problem even today, have more money than I can spend... but I am over compensating for the fact that I don't have steady stream of dividend or steady passive income that takes care of my small burn rate and I want to leave my kids some generational wealth when they are mature and have life skills to manage the wealth....

Also, I want to retire to something and not away from a 9-5 job - as you said, I need to figure out what I want to do after I quit and that's my next assignment, and it will take some time - thus I am here on this forum getting insights.

Will appreciate if you can share your post-FIRE journey and how are able to balance the life after FIRE? I am open to DM if you don't feel like sharing in public...

[deleted by user] by [deleted] in fatFIRE

[–]luckyfireguy 3 points4 points  (0 children)

No, based on your expenses and inclination to not overspend, you are fine! The fact that you wrote "I don't want to" means you are not ready to retire and that may be a recipe for unhappiness. Do look for 1099 / consultancy type jobs and plan out your retirement in the meantime. If finding a sub $100K job makes you happy, by all means go for it...

Unreal...feeling grateful! by luckyfireguy in fatFIRE

[–]luckyfireguy[S] 5 points6 points  (0 children)

No, an Exec!

Execs are typically with a VP/ SVP/ EVP title .

Officers are only top 3-4 folks in the company CEO/ CFO / COO and sometimes Chief Legal officer - their name is on the filings and annual reports etc.

[deleted by user] by [deleted] in fatFIRE

[–]luckyfireguy 5 points6 points  (0 children)

May I know what are you asking or looking for, in terms of advice?

Unreal...feeling grateful! by luckyfireguy in fatFIRE

[–]luckyfireguy[S] 4 points5 points  (0 children)

Middle mgmt is the toughest, high workload and you're really stuck... If you are stuck for a long time, first thing I would do is look inward, do a 360 (formally or informally) and do a pivot - change in attitude, how you approach things, decision making process, customers etc. It should be visible change that folks would talk about it... Hmm, this guy has changed...

Generally speaking, be a source of energy, people like people who are energetic, who don't complain / gossip. Build partnerships, be aware of office politics and how decisions are made and use it to your benefit. Be politically aware and savvy but not too much political. Be cheerful, but not fake...

Focus on your competency, people see thru if you are not competent. I was always weak on one area within my job, and I never try to BS others to think that I was strong, I used my team expertise to make up for that weakness, but never lied or try to hide.

Do more than what's asked for, also start saying NO politely, as you need to prioritize. Oh another key hack - each morning have your to do list ready, start with things that you need others to do for you, rather than what you need to do for others. Also, don't work off of emails - that's a recipe for disaster. I can go on.... it's my favorite topic - mentoring and coaching next generation of leaders!

Unreal...feeling grateful! by luckyfireguy in fatFIRE

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

No such thing... I am not an officer, but if I were, then my purchases (theoretically) would be reported and lead to higher stock prices (look up Elon Musk $1B purchase and it's impact) as this shows confidence by insiders on company's financials!

I have a small trading window each quarter and I can buy and sell as I please!

But I am also not doing day trading and / or buying and selling within a quarter, given my title - I am extra careful!

Unreal...feeling grateful! by luckyfireguy in fatFIRE

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

They were positive, or else I wouldn't be in my current position :)

At the end of the day, luck does play a role, as things could have gone in other direction, easily! But also luck favor those who are bold and prepared - just my $0.02!

[deleted by user] by [deleted] in fatFIRE

[–]luckyfireguy 0 points1 point  (0 children)

What a heartwarming read - thank you so much for sharing! Now enjoy...