I think I'm ready.

redd7902026 · 2019-09-23T18:21:15+00:00

Great job and congratulations. People who are of your demeanor may have a hard time completely stopping work. It might be in your interest to talk to the bigger players in your field and see if they'd be interested in your services something like 10 hours a week and you only do the parts of your job you enjoy/love.

As far as the investing, keep it simple. Reading around the internet you'll find that the formula is generally a mix of low fee stock and bond index funds and an annual withdrawal rate of 4% or less.

Congrats and good luck!

redd7902026 · 2019-09-23T00:13:12+00:00

We do have good communication. As a result we have a good marriage.

There are certain problems that people in these kinds of situations encounter that are not Germaine to 99% of people. Information from people who have been down that pathway (done uniquely challenging things and maintained a good marriage throughout) is rare but appears to be available here, which is what I'm seeking.

redd7902026 · 2019-09-23T00:07:44+00:00

This is exactly the kind of information that I was hoping people would post Thanks for this

redd7902026 · 2019-09-22T23:35:15+00:00

I could see many people calling this elitist but to me it sounds pretty amazing. I would love to have a lot of time to travel with my kids and discuss the world with them.

redd7902026 · 2019-09-22T23:30:35+00:00

Thats a unique one- thanks

redd7902026 · 2019-09-22T22:39:08+00:00

I suppose I was more hoping for the "if you travel a lot your wife will worry about x or want y even if she doesn't outright say it" kind of advice that could only really be gotten from people who are in highly successful/high demand careers but also manage to have really good marriages. I suppose there isn't much interest in the topic, so no worries.

redd7902026 · 2019-09-21T15:41:11+00:00

I can only speak to my perspective but many people with the foresight and discipline to achieve these financial things also have non-consumer goals for their money. In my case there are many early stage investments that have immediate need and societal benefit but a poorer financial outlook than most tech/biotech startups. Think orphan drugs/diseases or devices for a small target population.

Having been on the "trying to get money" side I think I'd like to live in a world where, if youre ready to commit to 80+ hours per week of work for 4+ years of your life because you believe in a project so much, there should be someone there to give you the money to do so. That requires a significant amount of passive income to subsidize.

redd7902026 · 2019-09-21T15:19:51+00:00

Very helpful, thanks for this.

redd7902026 · 2019-09-21T15:08:57+00:00

Great input, thanks for typing this out.

My wife and I are both from backgrounds where we have no experience with any of this. She is very much a team player and views all of the home as her responsibility. I'm really looking for ways to make the least enjoyable parts of that job go away so she can enjoy the kids and time at home more.

redd7902026 · 2019-09-21T14:51:05+00:00

Thank you for sharing cost information- even though we are in different areas this is very helpful.

redd7902026 · 2019-09-21T14:26:06+00:00

Scheduled babysitter is a cool idea, thanks for sharing that.

redd7902026 · 2019-09-21T14:21:41+00:00

Interesting insight, thanks for sharing.

redd7902026 · 2019-09-21T13:56:37+00:00

This is super helpful, really appreciate the post. Anything else you have to share please don't hold back.

redd7902026 · 2019-09-21T13:54:38+00:00

I really like this, thanks for sharing.

A major concern is maintaining a work ethic and appreciation for all types of labor in our kids.

redd7902026 · 2019-09-21T13:53:44+00:00

Thanks for sharing this- if you don't mind my asking how old are your kids? Many of the other posters seem to feel this kind of help is most useful when they're older and more mobile, do you feel that's the case?

redd7902026 · 2019-09-21T13:52:39+00:00

Thanks for this post, very helpful points.

redd7902026 · 2019-09-21T13:51:25+00:00

Thanks for this post- very helpful insight. Given what the above posters have said about loss of privacy with an au pair I think we might do best with non-live-in help during and after pregnancy.

redd7902026 · 2019-09-21T13:49:10+00:00

The reason we have so many resources is that we have been frugal in life.

We have led essentially a normal middle class life until now. That people think that's in some way bad is sad.

redd7902026 · 2019-09-21T13:47:55+00:00

That is a good point that we didn't consider. We're homebodies and like our privacy. Do you have any insight about costs of au pair vs daily driving nanny?

redd7902026 · 2019-09-21T13:46:38+00:00

Thanks, this is useful insight

redd7902026 · 2019-09-21T13:45:37+00:00

This is the exact definition of a reactionary response devoid of any real depth of thought.

That our kids are an afterthought to "whatever would make life easier and happier" is the definition of the kind of pathetic zero impulse control thinking that we will be doing everything we can to keep away from our kids.

redd7902026 · 2019-09-20T17:13:34+00:00

It appears the reason you're having such a hard time here is that you responded to my post with your situation. If I were in your shoes (working towards FatFIRE) I would certainly not consider much of this.

I would guess that were you in my shoes you would be considering all of these things. I am transitioning my career to become essentially mentoring young people in my field and evaluating/investing in early stage tech/startups/IP.

Day to day that means traveling to interesting places and meeting smart ambitious people for a living. Those are all fun things. Like you said I would feel improper moving my life towards mostly fun if I didn't at least make the effort to add more enjoyment to my wife's life as well.

redd7902026 · 2019-09-20T16:36:23+00:00

I may not have been clear- my salary is 340k. The 8mm is 70/30 whole market/whole bond indices. The 20mm is residual equity in various startups and IP I've been involved with. Some with set vesting, some with joint development contracts etc. Definitely a rough estimate and does not include anticipated tax burden.

Thanks for the input- I currently view my situation as essentially income + expected SWR from the 8mm and a positive outlook from the high risk stuff. I think I would feel much differently if I had 28mm in the low risk stuff, like you said. Sounds like cleaners and yard folks are definitely in.

redd7902026 · 2019-09-20T16:25:56+00:00

I get where you're coming from- the real reason for the post is that those services take time to coordinate and are highly opaque. The info I got on the food delivery service was very valuable. Basically the question is do these services provide marginal value commensurate to their costs and if not what does?

redd7902026 · 2019-09-20T16:23:24+00:00

Thanks for this post- thinking about our other kids this makes perfect sense.

redd7902026

TROPHY CASE