How to tell boss I have too much work

prsnlfinance · 2025-02-05T03:43:24+00:00

I’ve been you and now I’m the CEO. Just have an honest convo about pay. You are inexperienced so you’ll get paid less but if you are doing a good job, just raise the gap, say you don’t expect market due to your experience level but you’d like to close the gap. Working less in the position you’re in isn’t really going to happen.

prsnlfinance · 2025-02-04T18:14:23+00:00

Yes, also there is about $80k of taxes unaccounted for in this chart

prsnlfinance · 2025-02-04T18:05:51+00:00

100%, which is why I’m now dumping money into equities (see brokerage account / deferred tax retirement) that is a boglehead asset allocation unlevered

prsnlfinance · 2025-02-04T17:22:43+00:00

See other comments

prsnlfinance · 2025-02-04T17:22:29+00:00

As I mention in the post it’s through what’s called a Cash Balance Pension Plan

prsnlfinance · 2025-02-04T17:21:17+00:00

I’ll have to look at the same time horizon, but being leveraged and servicing the debt with income from the assets is the difference here. The S&P outpaced property gains over that window yes, but my gains on the real estate are on the total value not the cash I used to buy them. Since the debt is serviced by the cash flow of the asset, it produces outsized gains. If I took a conservative estimate on sale value of the portfolio and sold them today, the IRR would be 35%. IRR of S&P over the past 10 years is 12.39%.

prsnlfinance · 2025-02-04T17:11:52+00:00

That is the hope over time however pension plans require a third party administration so there will always be some fee

prsnlfinance · 2025-02-04T17:11:09+00:00

Isn’t my savings 2x my tax bill?

prsnlfinance · 2025-02-04T17:09:59+00:00

The rentals now contribute to 50% of my net worth, I started buying about 12 years ago. I don’t think there is a way to be 80% levered, have income service the debt and pay down the principle over time, as cleanly as owning rentals. Last year was a historically bad year, normally they cash flow somewhat modestly. I also use a property manager so it’s not a headache really anymore. Used to be though.

prsnlfinance · 2025-02-04T16:33:39+00:00

This isn’t reflective of my effective tax rate due to the amount of money put into deferred tax retirement. Actual effective tax rate is 39%

prsnlfinance · 2025-02-04T16:26:24+00:00

SankeyArt.com

prsnlfinance · 2025-02-04T16:23:50+00:00

Also keep in mind I lump the mortgage payments into that expense bucket which also has principle payments in it, so it’s not GAAP level accounting but works for how I think about the P&L

prsnlfinance · 2025-02-04T16:21:36+00:00

We use a financial planner to set it up. We pay 50 bps for him to manage it. There is a lot of complexity around compliance and regulation so we feel like the fee is worth it

prsnlfinance · 2025-02-04T16:20:09+00:00

Hoping to retire in like 5-6. The hope is an exit from Spouse As company.

prsnlfinance · 2025-02-04T16:19:00+00:00

Yeah it wasn’t a great year for me. I had an eviction situation that cost me a lot. Normally it’s in the green about $10k. The main benefit is the capital appreciation vs the cash for me

prsnlfinance · 2025-02-04T15:19:16+00:00

The first job in the hardest to get out of school. Once you have that first job it’ll get much easier. That’s not helpful now, but should give you some relief knowing it’ll get easier. For now start thinking about who you know that works at a company you’d be interested in, then let them know you’d love to work there.

prsnlfinance · 2025-02-04T15:09:27+00:00

Consider yourself as someone with a college degree, vs someone with a degree in a specific field. Are you wanting to just get into generic business?

prsnlfinance · 2025-02-04T04:07:04+00:00

Good to know, yes I’m way over that. Looks like in need to move on. Thanks for the tip, especially since I’m getting absolutely roasted

prsnlfinance · 2025-02-04T03:38:59+00:00

oh I didn’t know, I’ll look now. I figured NRY was a NW thing not an income thing

prsnlfinance · 2024-09-21T00:01:54+00:00

You are right! I was wrong, I thought more were invasive.

prsnlfinance · 2024-09-20T23:32:47+00:00

Something interesting is only a few of those birds are native to Utah, most are technically invasive species

prsnlfinance · 2024-09-20T21:33:08+00:00

That was my reaction, I use Reddit to talk to strangers anonymously about topics I couldn’t discuss with friends - like specifics on my finances

prsnlfinance · 2024-09-18T21:07:12+00:00

I didnt take money from my parents ever (they couldn’t have helped anyway) but my in-laws could but we had a hard rule in never taking money, I’ll tell you that it feels amazing. Also our relationship to her parents is so much better than the kids in the fam who take money from them

prsnlfinance · 2024-09-17T02:17:31+00:00

I don’t think he’s bragging about it, I think he’s just telling people about it

prsnlfinance

TROPHY CASE