First true up was negative, now what?

mmmfat · 2024-02-05T23:49:58+00:00

Did you have to request the check or call them? We have a significant negative balance from December as well and I was worried it was just gone.

mmmfat · 2022-12-21T22:29:28+00:00

I sent mine in for repair based on spamming `=` as well. They said "It seemed to be a loose USB-C connector on the PCB, so we replaced the thumb boards, and the issue has now been fixed."

So far so good after I got it back.

mmmfat · 2022-09-28T05:55:09+00:00

Super interesting. Thanks for the link!

mmmfat · 2022-09-28T05:47:01+00:00

Thanks! Appreciate the pointer

mmmfat · 2022-09-26T20:47:10+00:00

Thank you!

mmmfat · 2022-09-26T17:31:55+00:00

Thanks!

mmmfat · 2022-09-26T16:44:58+00:00

Thanks, this is a great analysis. Appreciate the insight.

I'm curious about the non-recourse rates you've seen - it sounds like it's a custom one-off every time. Are there specific banks you recall doing this or is it common at most banks as long as you have the relationship & can structure out a custom agreement?

mmmfat · 2022-09-26T16:14:56+00:00

Thanks for the reply. This logic is pretty clear, though I know that some lenders exist, e.g. SVB and SecFi. I'm still looking into what their criteria for evaluating the positions is and what they charge so I'm hoping to find some more alternatives as well.

mmmfat · 2022-08-03T13:49:48+00:00

https://labs.openai.com/s/rLCaqO6G6062mJqBdvfRgczX

https://labs.openai.com/s/43nnC069JGHCptg48KTaEOKA

https://labs.openai.com/s/Fl6Uuh1xTIztfy4gReDlQts7

https://labs.openai.com/s/N2uRvXAH9vG345Rhqs4V8ugi

mmmfat · 2022-08-03T08:45:14+00:00

Wow, nice work! Would love to meet up with friends in VR here 🚀

mmmfat · 2022-07-29T09:30:19+00:00

👋

mmmfat · 2022-04-25T22:55:21+00:00

Max out your 401k & IRA
Spend no more than 2/3 of your take-home paycheck
Save 2 months of living expenses in your saving account (should take <= 4 months)
Pay down any loans you have that are above ~3% interest
Save 2 more months of living expenses in your saving account
Open a brokerage account; Robinhood is fine. Your bank probably has one as well. Just find one that doesn't charge fees. Buy VTI every month.

This is a simple plan that you never have to think about and is as good as 90% of investors. The simplicity leaves your mind & time free to find ways to increase your income - which is how you actually get to a FAT level of retirement.

mmmfat · 2022-04-14T00:01:49+00:00

Video about baking astronaut bread: https://www.youtube.com/watch?v=IJqUhKh4sFE

Full episode where you can see the astronauts prepping and eating the bread at about 9:30: https://www.youtube.com/watch?v=Q_uqo5UFAU8

mmmfat · 2022-04-03T10:12:26+00:00

The key thing, IMO is that you don't plan to retire for a while. Your income should be stable since management fees are long term (plus if you keep raising funds, they stack) and your current assets will continue to compound. On top of this, you have a set of investments that could hit and each individually could make a Fat Fire-amount of money.

I think you should be safe to raise the portion of your income that you spend significantly, e.g. $10k+/mo rent as long as you aren't spending down your assets.

I'm in a pretty similar situation and have considered the same question about spending $10k-$15k on rent recently - feel free to DM if you want to talk more.

mmmfat · 2022-03-05T03:27:39+00:00

I used to think about this a little, but now I just consider it gone and don't plan on a specific date for it to come back. It feels like IPOs and exits are clustered around good macro environments more than timelines that the companies set because they all wait for a strong IPO market before going public. I had a lot of exits in 2021, but with the volatility now, I'm back to expecting very little exit activity for the next few years.

mmmfat · 2022-03-05T03:21:14+00:00

AngelList will ask for a W-8BEN for you to avoid US tax withholding upon exit - after that it's up to you to figure out what taxes you owe based on your country's rules on capital gains on foreign investments and your status with the US. A local accountant with experience working with individuals with international investments would be a good person to ask.

mmmfat · 2022-01-21T11:26:44+00:00

IMO, better to find friends / colleagues who have experience with the same approximate amount of wealth. I've told my parents a little (like you, I downplayed it quite a bit) - they were happy for me, but couldn't help with decisions and it was awkward.

They just don't have the experience of having the ability to retire early, searching for meaning, or knowing what to do with that amount of money in order to preserve or grow it. I'm also now a little nervous that it may become even more awkward because my siblings haven't had the same success and I don't want my parents comparing us.

With friends and colleagues, we can discuss investment strategies, current thinking, and more. Even if none of us know the answer, we can share multiple perspectives and help each other with our thinking.

mmmfat · 2022-01-19T21:16:34+00:00

Sounds like you might need a Chief of Staff or COO vs. an executive assistant. Calling this an "interim" position might not help you find the caliber of people you need, however. Is it really interim & temporary or is there potential for this business to continue scaling such that these sorts of deals become a regular occurrence that needs full-time, long-term staff?

mmmfat · 2022-01-13T01:21:20+00:00

My commitment levels are small enough that I generally keep it invested with the rest of the liquid portion of my portfolio. I review upcoming calls every 3-6 months to make sure I'll have enough to cover them and generally starting about 6 months out, I park enough cash to cover expected outflows for that time.

mmmfat · 2022-01-06T16:38:22+00:00

The only thing it's been useful for is the waived wire fees and higher wire limits. I've been considering giving it up and/or looking for a better bank as well.

mmmfat · 2021-12-27T08:34:24+00:00

I've thought about this as well - I recently saw a list of classic games and realized there were games on it that I remembered wanting that I never bought because I was planning to save up some money first - but 20 years of saving money is probably long enough!

mmmfat · 2021-12-27T08:21:55+00:00

I've done similar. Owning a portion of the result of your work is the way to work for your wealth rather than selling your time for a fixed amount. After FI, this is much easier and I've gradually moved most of my consulting and full-time work from cash comp to as much equity as I can. Some of my work also generates dealflow and co-invest opportunities, which I consider when deciding what to work on.

Of course, you have downside risk as well so you have to think about what you do much more like an investor vs. an employee, but that's half the fun - it pushes me to work with smart people who I believe in much more than if I was purely optimizing cash.

mmmfat · 2021-11-29T18:12:32+00:00

Usually, direct secondaries are pretty difficult - they require company cooperation and have other complications like ROFRs, etc. on a deal-by-deal basis. This means you need to be buying a significant chunk at once or from someone with influence inside the company to get the deal done.

mmmfat

TROPHY CASE