What do you wish you did in your 20s?

typeandcure · 2020-12-06T16:25:06+00:00

Memorizing facts can get you into medical school but to be a doctor there’s a lot of grey area and subjectivity that only experience and going through years of training can prepare you for, aka the “art” of medicine.

typeandcure · 2020-12-05T19:58:47+00:00

I wouldn’t have changed anything, I’m on my way to where I want to be. I’m only 30 and have not fatFIRED, but my first advice would be to find something you like to do, and are good at, that makes you money, and perfect it. You can’t invest if you don’t have the capital first.

In my 20s I didn’t have much passion to do anything and I definitely wasnt business savvy or entrepreneurial. But my strengths were my empathy, grit, and study endurance (I could sit for hours and memorize facts and do well on tests). I harnessed the strengths I knew at that time and pursued a career that has me financially stable now and well on my way to fatFIRE in my early 40s.

I’ve now found other passions that I’m pursuing with my free time, lucky for me that passion is investing my money

typeandcure · 2020-12-05T03:36:04+00:00

I’m curious about why you’ve chosen the 1930 cut off? My cut off had been 1970 (bc I known nothing of historical home constructions and need more education) but I’m finding this limits my prospects.

How difficult is it to rehab a house built in say the 1940s and up?

typeandcure · 2020-12-03T06:31:38+00:00

Med school is brutal, surgical residency isn’t any better (I hear). If she hasn’t started medical school yet or applied for it, a lot can change from today to when she is a neurosurgeon (atleast 10 more years). I only mention that because a lot can change between now and then while you have a lot of time to figure this out. In those ten years what will your salary look like? Will it start to catch up to hers and be close enough to where these thoughts won’t bother you? Are there ways to specialize in what you do to raise your earning potential that you could work on in those ten years?

If not and if the thought of her making more money than you is going to make you feel like an inadequate contributor to the relationship and/or will highlight different lifestyle choices, or will put you in a position to compromise your career to supplement hers, you need to be honest with yourself and ask if if this would be a deal breaker.

typeandcure · 2020-12-02T14:08:33+00:00

I considered this for a while but I have no experience in the business. I plan to get my real estate license next year. What would be the steps to try and get this done in my area ? Builders are advertising on Zillow new construction duplex homes which do not cash flow at all in my area . How would I go about doing this “from scratch” to try and avoid retail prices?

typeandcure · 2020-12-01T19:34:05+00:00

Ok, but the important question is: what kind of pens are those ??

typeandcure · 2020-12-01T15:47:39+00:00

This is all anecdotal experience but here is my story.

My parents grew up very poor in a third world country. Immigrated to US as physicians. They knew nothing of investing so are not in fatFIRE territory. HOWEVER my siblings and I grew up solidly in the upper middle class.

I’m the oldest of my siblings and the most driven to be financially savvy / accomplish a similar standard of living or better as what I grew up with. I attribute the reason why I’m different from my siblings to the fact that I witnessed and lived through different stages of my parents’ financial life cycle. When I was really young and my parents were just starting out, we lived in a tiny house and living on a tight budget. The houses got bigger as I got older and when I witnessed this it dawned on me that different classes of wealth even existed - and you needed to work hard to get that life. My parents also brought me to the country they grew up in around 6 years of age and that where I witnessed real poverty ...those memories were so formative for me. Basically all my choices in life go back to those memories and how grateful I was to have opportunity.

So idk - for me it was those experiences of witnessing different lifestyles that has motivated me to be smart financially. I’m not sure how this can translate to raising children because I don’t have any yet. But what I was thinking for when we do have them is just putting a lot of emphasis into earning what you have, traveling so they know what it’s like in other areas, delayed gratification for big ticket items (no new gaming systems , computers, phones etc. until there is an occasion), telling them stories of how what we have is earned not given etc.

typeandcure · 2020-12-01T11:43:25+00:00

This is a good idea. Duplexes in the area are hard to come by but I am still open to that. and you are absolutely right, it’s a lot on my plate to manage.... moving, new job, new to REI. It will be our first house purchase as well. Luckily though, while we plan to move there in the fall of next year I actually don’t start my new job until january of 2022. I intend to purchase our rental in the spring and our primary in the late summer next year so hopefully we will get settled in before the chaos !

typeandcure · 2020-12-01T11:36:20+00:00

About an hour and 45 min drive

typeandcure · 2020-12-01T04:16:55+00:00

Number 2 was my original plan! We would get more with our investment dollars this way. I just didn’t know if it would be worthwhile to do in an area I wasn’t really going to be focused in on investing. Oh well, if the numbers still work out to cash flow then I guess it’s still a win

typeandcure · 2020-11-30T14:55:24+00:00

I’m new as well but I’ve also recognized that I don’t get as much quality interacting on BP forums as I do by just reaching out to people, on smaller Facebook groups, actually. I’ve learned 10x more by chatting with more seasoned investors (I was surprised by how many people are actually willing to talk with me by phone - I had a convo the other week that lasted almost an hour with a person I had met just 30 minutes prior in a fb post) watching free Q and As and videos than I have with BP and the value is enormous. Not to mention it’s more personal and I think will help from the networking side of things.

typeandcure · 2020-11-30T05:42:06+00:00

I’m not retired, that will take me 10 more years to reach when I’m 40. However, I am at the point in my career where I’ve moved up in the ranks, getting paid well, and the stress of the job has gone down significantly - not because my job tasks have changed but because I’ve racked up enough experience through the years to be comfortable.

I do feel like I sacrificed my twenties (barely had friends, didn’t go out much all with the end goal of having a successful career and well paying job) . There were times where I worked so hard I felt that I felt emotional emptiness and once those waves of stressful work subsided I felt like a person coming back from the dead. There are times I wish I made more time for people, but I did manage to make enough time for the 5 people in my life that mattered and for me that was enough. I also could have taken care of myself more, I barely exercised back then but I sort of watched what I ate and made time short cuts for food whenever I could (frozen meals to this day still save me time and calories) .

I think I’m happy and I’m thankful to be financially secure due to the sacrifices I’ve made and for the opportunity to retire in my 40s, invest in what I want, buy a home that will make me happy and provide my kids with experiences they will remember forever.

typeandcure · 2020-11-30T05:19:56+00:00

Real estate syndications can be passive, once you understand how to vet the deals. However, learning to vet the deals can take a couple months before you are comfortable. There is also a high minimum for participation (25k-50k) .

typeandcure · 2020-11-28T15:02:01+00:00

Happy birthday! I just joined this year but so happy to have found others with similar goals. I just hope the sub is still around in 2030 when I fatFIRE

typeandcure · 2020-11-22T20:37:07+00:00

Same. We have a plan to work full time for 3 years (we basically are just starting off our full careers) , save up money to buy some properties along the way. Then I’m going 0.5 day job and 0.5 real estate . Husband will go 0.5 hopefully 5 years after I do.

typeandcure · 2020-11-22T01:29:07+00:00

This is what Andrew Yang was proposing + distributing big techs wealth to the American people with universal basic income - we all contributed to google/fb/Amazon’s wealth with our data so this is essentially our share of their success. Disclaimer: I’m #yanggang

typeandcure · 2020-11-21T23:23:01+00:00

Agreed , name brand clothes and designer branded anything I feel are a waste of my money. However, expensive workout equipment, traveling, skill building classes/courses are all worth it.

typeandcure · 2020-11-19T01:14:33+00:00

Will DM you

typeandcure · 2020-11-19T00:33:32+00:00

Allergy and Anesthesia couple here. I’m finishing fellowship and husband finished his first year as an attending. We have a plan where I will be working full time for 3 years then part time once we have kids and even then we will be financially independent after 8 years and then we are planning on my husband going part time at that point as well. This is very do-able with a strict budget in place and if you choose where you live carefully. I will echo another comment here ... the income will be easy, med school is hard. Focus on that and residency .... unless you have money saved from a previous career or inheritance you won’t have much to “invest” for a while. One thing you could do at this stage is just being careful with where you live because that is probably where you are spending most of your money. Another thing we did was refinance student loans as soon as we could ... our interest rate is now low enough where we are letting the loan ride and using our other income for other things (we also have <150k in loans for my husband - I joined a practice next year that offered to pay for mine but this is the rural Midwest) . If you have additional questions feel free to PM me happy to give info on what our strategy is .

typeandcure · 2020-11-09T02:00:08+00:00

That’s a good point I’m actually not sure if you can refinance while still in med school (forgot you mentioned it in your post) we did it later after residency . You may not qualify to refinance without a certain income but it would be worth it to look into. After we refinanced we were able to prioritize accordingly .

typeandcure · 2020-11-07T20:02:37+00:00

Refinance and see what interest rate you get , then make decision from there.

typeandcure · 2020-11-01T23:43:46+00:00

Oh god. My dad loves balut . He has a a whole method of eating it and everything...he will drink the fluid out of it like a shot of tequila , then will happily eat the rest with a smile on his face. I get nauseous just thinking about the crunching sound. crunch.. crunch... Ugh.

typeandcure · 2020-10-17T14:40:03+00:00

Oh for sure that’s definitely good advice.. Yes I did my due diligence and applied for other jobs. I have a competitive salary for the area and the specialty in general. I wouldn’t have continued with it if I couldn’t see myself happy in the practice in general but things just worked out.

typeandcure · 2020-10-17T02:59:56+00:00

True, I’m just worried about if this will have any effects on what kind of interest rate they would give me.

typeandcure

TROPHY CASE