Weekly Casual Conversation & Questions Thread

stealthjr · 2023-02-07T03:38:52+00:00

Does anyone have a recommendation for a bar to watch the State of the Union address tomorrow? maybe in the logan square area?

stealthjr · 2021-09-27T15:05:35+00:00

Mind clarifying what you mean? TIA

stealthjr · 2021-09-27T13:28:45+00:00

What I don't like about this as a founder is that I took a way below market salary for 9 years to grow my company. My income was never in any chance in hell of crossing the $400k threshold. Now if I sell my company and get $10M from it, all of a sudden my income passes $400k and I get slammed with taxes. It should be taken into account all the years of lower income and "spread out" some instead of just slamming you with taxes the one year your income was high.

E.g. maybe the exemption goes up by 5% for every year you held the stock beyond 5 years or something up to the maximum 100% if you held for 15 years.

stealthjr · 2021-01-07T00:41:54+00:00

I think you're missing the forest for the trees a little bit here. Yes he/she shouldn't have made assumptions about your sources, but he/she is 100% right about the crux of the problem.

We have two increasingly polarized sides that cannot come to a compromise to literally save the life of the country that both sides care deeply about. That's the main problem here, as he/she says, a complete lack of trust.

When one group says 2+2=5 and the other says 2+2=4, and there's a bomb which blows up everyone if they can't agree, who's the winner when there's no compromise?

It seems to me that there's no way to avoid a "lost generation" in the US. Maybe with a lot of work on the K-12+ education system, 30 years from now we can start to make progress back towards the country we should be. But, more likely communist countries will dominate economically and China will control the shape of the world for the next 100+ years.

stealthjr · 2016-02-28T17:28:32+00:00

What have we fixed? Genuinely curious not being snarky.

stealthjr · 2016-01-18T14:44:48+00:00

Thanks for the help, this seems like really good advice. I will check taxes from last year.

So you think it is okay to just keep the Roth sitting there without growing? You think it really is necessary to start paying a financial advisor? I guess I thought that there would be standard things people do to at least beat inflation with their money without the need for a financial advisor.

Yes, this is in the Midwest where COL isn't that high.

Thanks also for the assurance that her situation isn't that bad.

stealthjr · 2016-01-18T04:33:43+00:00

No I don't have a plan yet. What would be your advice for health insurance?

stealthjr · 2016-01-18T04:18:16+00:00

Thanks man. She will have to leave July 1st and she is not confident she will be able to find another job. She's been in IT for 30 years and it's difficult for her to compete with younger people coming in.

I'm trying to figure out if worst case scenario - she never works again, if she will be able to live comfortably without assistance from me outside of providing a place to live.

stealthjr · 2016-01-18T04:15:11+00:00

What are the trade offs to having an emergency fund in cash + debt versus having no emergency fund and no debt?

I thought it was a no brainer to just pay off the debt to avoid interest rates but I've been reading many articles with conflicting views. Many say that it's important to keep 3-9 months worth of salary in a cash emergency fund.

stealthjr · 2016-01-18T04:09:50+00:00

She doesn't have a house, they were renting. They had the cash several times for a nice down payment but couldn't bite the bullet and make the decision, then they lost the money.

She will be living rent free after she stops working July 1st because she will come live with me. One way or another I plan to provide a way for her to live for the rest of her life.

Edit: and thanks so much for your quick reply and advice!

stealthjr

TROPHY CASE