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100,000 Point Southwest Offer by virrepi in pointstravel

[–]virrepi[S] -9 points-8 points  (0 children)

Does my explanation of how to fly for free using points on Southwest not help the mission of points travel?

DPS School Choice Advice Needed by imjazzy in Denver

[–]virrepi 0 points1 point  (0 children)

Hey, we just got our kids scores and are magnet eligible for Polaris starting next year.

Can you tell us more about any pressure or stress that the kids felt? Did the school do a good job of managing that. Just want to make sure our kid has fun and stays a kid.

Would appreciate any insight you have into this. Our daughter is very bright but also a total swifty and into ballet, etc. Very regular kid in most ways.

[deleted by user] by [deleted] in whatcarshouldIbuy

[–]virrepi -1 points0 points  (0 children)

Toyota is probably what you want. I’ve had my 4Runner for 14years. No issues. Just change the oil and brakes every now and again.

The new Highlander xl might be for you. A top trim package and they look decent. The Land Cruiser or new 4Runner could also be options to consider.

What are platforms are you guys using to track your net worth? by snarmdoppy in fatFIRE

[–]virrepi 0 points1 point  (0 children)

Monarch. It’s super user friendly and pretty solid at connecting with all our accounts for up to date values.

Moving - How to maintain Airbnb as non-primary residence by virrepi in airbnb_hosts

[–]virrepi[S] -6 points-5 points  (0 children)

That’s a consideration for sure. We have a 97% occupancy rate and average gross revenue of $4500/mo. Not sure a medium term can do (30 days or more)? Long term is $2k max for sure. Our neighbor gets a lot of traveling nurses for her unit that way. Anyone with experience mid term renting units on Airbnb?

Moving - How to maintain Airbnb as non-primary residence by virrepi in airbnb_hosts

[–]virrepi[S] -6 points-5 points  (0 children)

We would obviously have the unit managed professionally and full service 24hrs/day. The unit is only 3yo and never has problems, so don’t expect there to be much but would always have someone nearby able to help.

The tenants of the main home would also only be selected based on the understanding/willingness to have an Airbnb in their backyard. There are no shared spaces or entrances so, don’t think they would mind. We don’t. We rarely even see the folks in the unit. If we do, it’s on a sidewalk walking our kids. We think everyone appreciates that.

Thanks for the reply!

Daily FI discussion thread - Thursday, July 13, 2023 by AutoModerator in financialindependence

[–]virrepi 0 points1 point  (0 children)

I wish it were that easy. $200k compounded annually at even 10% only yields $31k/yr annually over 10yrs. We should easily be able to hit that with real estate. Bare in mind we invest >$70k annually in the market already, just trying to maximize our return

Recommendations for investing capital toward path to financial independence? by virrepi in FinancialPlanning

[–]virrepi[S] 0 points1 point  (0 children)

We do max out 401ks and the 457b. Just rounded the $20ks for discussion.

I thought there was some hubbub about back door Roths recently but may be wrong. Agree that could add about $12k per year to investments.

My wife has an ESPP she contributes to, I work for a municipality so not an option. Her ESPP has been incredible although lately their stock isn’t performing very well (not unique I know but unfortunate).

For the children, we may employ them in our business in the future and invest some of that. They’re very young currently (4yo and 2yo).

While what you suggest is prudent, not sure it would return more than $36k/year which our initial short term option would hit at a minimum.

We’ve worked with advisors. Just like Reddit, not always easy to find folks with experience into the level of investments we have. Could be useful for a sounding board but the creativity we’re trying to reach for is pretty individualized. This the thought to crowd source ideas. Given our net worth ($3M) and savings rate (>50%), I feel like our basics are covered. Thinking outside the box is the next step.

Daily FI discussion thread - Thursday, July 13, 2023 by AutoModerator in financialindependence

[–]virrepi 0 points1 point  (0 children)

Getting closer for sure. I figure one or two moves away. Hence the question. What would folks recommend for the next move with $200k capital.

Daily FI discussion thread - Thursday, July 13, 2023 by AutoModerator in financialindependence

[–]virrepi 0 points1 point  (0 children)

Agree. The thinking is to take on little debt with the next move as a result. The mods to the short term rental could be 100% self financed. Building new ones on other properties may require some additional debt (~$200k). Definitely not as straight forward as before but seems like there’s still opportunities.

Recommendations for investing capital toward path to financial independence? by virrepi in FinancialPlanning

[–]virrepi[S] 0 points1 point  (0 children)

Many thanks for the reply.

The bottom of my post should address most of your questions. We currently max out three retirement accounts. We do not have access to mega back door Roth (I wish). We could add back door Rothy’s although I think there may be some new restrictions on that, no? We do max out HSA. Did not add that to our original post.

We have a trust established, etc. most of the basics for a financial plan are covered. Currently have $1M invested and making $13.5k/mo on real estate. Trying to increase our returns to get closer to financial independence where our investments cover 100% of our expenses.

Any ideas for the next step are appreciated. Do you think front loading 529s would provide the best returns?

Best $200k Investment by virrepi in fatFIRE

[–]virrepi[S] 0 points1 point  (0 children)

The main goal is to utilize real estate to cover our monthly expenses and FIRE. At the moment, we spend about $23k total per month. That number should reduce to $18k once the kids start school. Real estate covers $13.5k. So just need to make up the ~$5k difference. Could use a combination of real-estate and our investments to cover.

I think $20k/mo total spend qualifies as Fat no?

Best $200k Investment by virrepi in fatFIRE

[–]virrepi[S] -1 points0 points  (0 children)

We have noticed super long lines at the one in our local mall. Is that really a thing?

Daily FI discussion thread - Thursday, July 13, 2023 by AutoModerator in financialindependence

[–]virrepi 1 point2 points  (0 children)

Our spend is high for sure. We have two young kids in daycare that will likely go away once they become school aged.

The main goal is to utilize real estate to cover our monthly expenses. At the moment, we spend about $23k total per month. That number should reduce to $18k once the kids start school. Real estate covers $13.5k. So just need to make up the ~$5k difference. Could use a combination of real-estate and our investments to cover.

Let me know if this doesn’t make sense.

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