(http://startswithabang.com/wp-content/uploads/2008/05/dr-evil.jpg)
Scenario:
For some reason, you and your existing family have to make a fresh start at a brand new life. This means that your current net worth is completely wiped out, but is replaced with $1,000,000 tax-free US Dollars ($1,040,000 CAD/?700,000/?625,000/$1,100,000 AUD/?1Billion/whatever) to use to buy real estate, vehicles, investments, etc. Your new life comes with a new job comparable in position and salary to your current career. Where would your million go?
edit: to clarify, only the $1MM windfall is tax-free. If you decide to use it to earn interest, it would be taxed as regular income.
Pay school off.
Pay immediate family's loans off.
Modest sized house and probably two cars to go with it.
Uh, since still in college...
Put it all in my Schwab account, finish school, and continue on with my life. Fuck my family, they don't need any of it. :huh:
I'm thinking along the same lines. Basically using the interest off $1MM to supplement my current income. That would be enough to finance a ~$500k mortgage, and then a newer model CTS. Maybe a certified pre-owned 987 Boxter as a weekend toy.
Pay off house. Pay off cars. That's about $300k. The rest straight into bank accounts- Roth IRA's- college funds and maybe a small little cottage on a small little fishing only lake.
Pay off the RX-8.
Go on a trip to Hawaii, Australia and perhaps some of Europe.
Build on to my house.
Take all my guy friends to the best strip clubs in Vegas
Pick up my tool box from work and bring it home.
maybe I didn't phrase the situation well enough. Your entire net worth is wiped out, which includes your current house and car(s)
I would pay off my house and my debt. That leaves $670,000. I would then buy a 2011 Mustang GT in the spring and a 2010 Honda Odyssey for my wife, and a 2004 Dodge Dakota Quad Cab 4x4. The remaining $588,000 goes in the bank.
Quote from: Onslaught on January 05, 2010, 04:25:54 PM
Pay off the RX-8.
Go on a trip to Hawaii, Australia and perhaps some of Europe.
Build on to my house.
Take all my guy friends to the best strip clubs in Vegas
Pick up my tool box from work and bring it home.
Am I considered a friend?
Quote from: Vinsanity on January 05, 2010, 04:27:07 PM
maybe I didn't phrase the situation well enough. Your entire net worth is wiped out, which includes your current house and car(s)
Damn. Okay. Here we go again.
Build House = $600,000
2011 Mustang GT = $35,000
2010 Honda Odyssey = $40,000
2004 Dodge Dakota = $8000
Bank = $317,000
Quote from: HEMI666 on January 05, 2010, 04:28:36 PM
Am I considered a friend?
Sure, why not.
We can rent a few nice cars and see what they can do out there too.
Quote from: Onslaught on January 05, 2010, 04:31:37 PM
Sure, why not.
We can rent a few nice cars and see what they can do out there too.
YES! Let me know when you get a million dollars and I'll meet you in Vegas.
Hmmm.
Stake my daughter to her education...another $50G, give or take.
Rent, rather than own, a comfortable bungalow with detached garage and workshop; with a pleasant and sunny room for my wife to write her memoirs; save the hassle and expense of real estate and lawyers plus we wouldn't need it for more than 15-20 years. This would allow for a more sizable investment of the bulk of the funds.
Buy a Fusion Hybrid for general transportation.
Buy a clean hobby car to tinker with and drive to the local 'drive in'. Must have a 289 HiPo engine. Could be a '67 Bronco, '66 mustang convertible or even a hotrod.
Take frequent trips, cruises, etc. Go to Cuba at least twice a year; to stock up on cigars.
That's about it. :huh:
Buy 100 acres in Nfld: $100,000
Build house: $300,000
Build retirement apts: $500,000 (remainder gov't subsidies). That should get me 12-15 units, and income of $10,000/month
Buy Ski-Doo, FFR MkIII Roadster (Cobra), a smallish 4x4 truck (Tacoma?) $75,000
$25,000 left for groceries and booze. :partyon:
Quote from: Payman on January 05, 2010, 07:43:36 PM
Buy 100 acres in Nfld: $100,000
Build house: $300,000
Build retirement apts: $500,000 (remainder gov't subsidies). That should get me 12-15 units, and income of $10,000/month
Buy Ski-Doo, FFR MkIII Roadster (Cobra), a smallish 4x4 truck (Tacoma?) $75,000
$25,000 left for groceries and booze. :partyon:
Not one for saving eh? :lol:
House, cars, loans, investments.
The new job is in Portland, so $300k-400k for a nice house in a good neighborhood. $20k for a used SUV of some type (old fixed up something?), $30k for some cars (Miata-- $5000, uh, I dunno...), some bikes ($6k; lots of bikes), furniture ($5000, high estimate), student loan ($13k). That leaves more than $500k for investing.
Why is $1,000,000 abbreviated $1MM and not $1M?
Quote from: Psilos on January 05, 2010, 07:52:14 PM
House, cars, loans, investments.
The new job is in Portland, so $300k-400k for a nice house in a good neighborhood. $20k for a used SUV of some type (old fixed up something?), $30k for some cars (Miata-- $5000, uh, I dunno...), some bikes ($6k; lots of bikes), furniture ($5000, high estimate), student loan ($13k). That leaves more than $500k for investing.
Why is $1,000,000 abbreviated $1MM and not $1M?
a high estimate of 5k for furniture? That's gonna be one cheaply decorated house!
Quote from: Psilos on January 05, 2010, 07:52:14 PM
House, cars, loans, investments.
The new job is in Portland, so $300k-400k for a nice house in a good neighborhood. $20k for a used SUV of some type (old fixed up something?), $30k for some cars (Miata-- $5000, uh, I dunno...), some bikes ($6k; lots of bikes), furniture ($5000, high estimate), student loan ($13k). That leaves more than $500k for investing.
Why is $1,000,000 abbreviated $1MM and not $1M?
It's that way at work. 1MM = 1*1000*1000.
Quote from: Minpin on January 05, 2010, 07:47:14 PM
Not one for saving eh? :lol:
to be fair, the retirement apts are kind of an investment vehicle
Quote from: Vinsanity on January 05, 2010, 08:27:21 PM
to be fair, the retirement apts are kind of an investment vehicle
A very secure one, with a good monthly income.
Yes but to have 1 million and end up with 25k afterwards...Fuck that.
Life's not all about money, you know.
Quote from: Minpin on January 05, 2010, 08:33:37 PM
Yes but to have 1 million and end up with 25k afterwards...Fuck that.
Huh? Would you rather line your coffin with it?
Did you miss the land, house, and apartments thing? That's a few million worth in a few years right there. Plus $10,000+ month income.
Quote from: rohan on January 05, 2010, 04:17:41 PM
Pay off house. Pay off cars. That's about $300k. The rest straight into bank accounts- Roth IRA's- college funds and maybe a small little cottage on a small little fishing only lake.
Quote from: Vinsanity on January 05, 2010, 04:27:07 PM
maybe I didn't phrase the situation well enough. Your entire net worth is wiped out, which includes your current house and car(s)
Ok- with my million i'ld buy my house back and buy a new 550 or whatever the number is and still do the rest I wrote about. I love my house. If I couldn't buy it back I'ld buy a 20 acre piece of land somewhere quiet and build one exactly like it.
I would have used 10 dollars to buy my family the biggest refigerator box we could find to live in, then i would have bought 999,990 shares of ford motor company at 1 dollar a share.
Purchase shares,
Wait 6 months,
Add ice, vermouth, whisky
Shake
Strain
Stir
And cash them bitches in at 11 dollars a share, pull a wesly snipes and not pay any taxes then pull a roman palanski and ditch this sinking ship for europe.
Quote from: Payman on January 05, 2010, 08:47:39 PM
Huh? Would you rather line your coffin with it?
Did you miss the land, house, and apartments thing? That's a few million worth in a few years right there. Plus $10,000+ month income.
Think about it like this. You now have 975k of assets and only 25k of rainy day money. If you only had 100k is assets that 25k would be fantastic but with a million you are going to have some more expensive situations where you will be SOL. You can't base your saving on future earning potential. :huh:
Quote from: CJ on January 05, 2010, 08:44:04 PM
Life's not all about money, you know.
What else is there?
Quote from: CJ on January 05, 2010, 08:44:04 PM
Life's not all about money, you know.
Bring that shit somewhere else.
Or better yet, send me all your money since it is such a trivial part of life.
Quote from: Minpin on January 05, 2010, 08:59:08 PM
Think about it like this. You now have 975k of assets and only 25k of rainy day money. If you only had 100k is assets that 25k would be fantastic but with a million you are going to have some more expensive situations where you will be SOL. You can't base your saving on future earning potential. :huh:
What else is there?
If I was in my 20's I might agree with you. But this is my retirement plan, and the $1Mil allows me to do it without any debt. I wouldn't have $25K left, BTW. You missed the groceries and booze part.
Quote from: Payman on January 05, 2010, 09:03:49 PM
If I was in my 20's I might agree with you. But this is my retirement plan, and the $1Mil allows me to do it without any debt. I wouldn't have $25K left, BTW. You missed the groceries and booze part.
Ok.
Quote from: Payman on January 05, 2010, 09:03:49 PM
If I was in my 20's I might agree with you. But this is my retirement plan, and the $1Mil allows me to do it without any debt. I wouldn't have $25K left, BTW. You missed the groceries and booze part.
Yup
Groceries - 1K
Booze - 20K
You'd be lucky to have 5g's left in your pocket.
Quote from: FlatBlackCaddy on January 05, 2010, 09:05:15 PM
Yup
Groceries - 1K
Booze - 20K
You'd be lucky to have 5g's left in your pocket.
Hookers.
Quote from: Payman on January 05, 2010, 09:07:12 PM
Hookers.
I figured 2K worth of booze would turn just about any women into a hooker, so that cost was rolled into the booze budget(it works better that way when it comes time to file my taxes).
Quote from: FlatBlackCaddy on January 05, 2010, 09:08:42 PM
I figured 2K worth of booze would turn just about any women into a hooker, so that cost was rolled into the booze budget(it works better that way when it comes time to file my taxes).
No, because then you can claim them as employees. They'll clean the house, mix drinks and make sammiches too.
Quote from: Payman on January 05, 2010, 09:13:09 PM
No, because then you can claim them as employees. They'll clean the house, mix drinks and make sammiches too.
Employees... Hmmm.
I always filed them as services rendered.
I suppose she does technically spend enough time with her head in the toilet to legally qualify as a house keeper for IRS purposes.
Quote from: Minpin on January 05, 2010, 07:54:47 PM
a high estimate of 5k for furniture? That's gonna be one cheaply decorated house!
Small house (yeah, high estimate for the house, too), used furniture. Craigslist is your friend. ;)
Quote from: Psilos on January 05, 2010, 09:27:24 PM
Small house (yeah, high estimate for the house, too), used furniture. Craigslist is your friend. ;)
Ugh. Used furniture? With a million bucks in the bank? No, IKEA is your friend. :-0
Quote from: Raza link=topic=20947.msg1236789#msg1236789 date=1262747169
It's that way at work. 1MM = 1*1000*1000.
Uh, k is 1000...
k = kilo = 1000
M = mega = 1,000,000
M*M would be T, or tera, which is 10
12. Unless the 1 in 1MM stands for $0.001...
:huh:
Quote from: Payman on January 05, 2010, 09:35:52 PM
Ugh. Used furniture? With a million bucks in the bank? No, IKEA is your friend. :-0
Ew, IKEA sucks. Do I look like a dorm living college student to you? :lol: Used furniture has more character.
OK, maybe $10k for furniture. Why not?
Quote from: Psilos on January 05, 2010, 09:38:45 PM
Ew, IKEA sucks. Do I look like a dorm living college student to you? :lol: Used furniture has more character.
OK, maybe $10k for furniture. Why not?
Yes, rubbing your cheek into someone else's spooge stain is much better than paying a few hundred bucks for a new sofa. :lol:
Funding my remaining two years of school would require ~$80k; I'd spend ~$15k on a new Focus SES Golf 2-door (worth the extra $600 and the loss of a few gadgets; $15k is pretty ambitious though with MSRP over $20k with a sunroof and upgraded wheels); I'd probably buy a few odds and ends (new tv, a couple of camera lenses, etc) and everything else would go into the bank (figure $900k). Once I had a stable career I'd used $250-300k to buy a nice but small home (plus furniture) and then save the rest for when I am bored of the corporate world and want to go out on my own.
Quote from: Payman on January 05, 2010, 09:45:42 PM
Yes, rubbing your cheek into someone else's spooge stain is much better than paying a few hundred bucks for a new sofa. :lol:
Rule 1 of used furniture: Don't buy from college students, unless you don't mind ^.
:lol:
Damn this presents an interesting opportunity. I would go one of two ways.
Way one- Move to Tejas, buy a modest home near Dallas (250K), a 997 C2s for myself (60K), E39 wagon for the GF (20K), Save + invest 570K, use the remaining 100K to take a year or two off to chill & travel. Man having a house paid off would be so boss. With my current salary..... man I could prob put away 30K a year. I'd be fucking rich.
Other way I would go... invest like 900K of the money, basically "retire" in Ghana. Get a late model diesel Benz and provide engineering support for my dad's projects there. Only problem with that would be what to do with the gf. Maybe I could buy her a house or co-op or something and we could shuttle back and forth between Ghana and the US. That's actually not a bad plan either, and I could free myself from the US eventual collapse.
Decent $200,000 house in town, STI, Tacoma, Street Triple, PRS electric guitar, Breedlove acoustic, Baldwin piano, Gibson mandolin, nice recording and music gear, put wife and I through school to pursue our goals with that, invest the rest.
I'll take the cash.
I'd move to Philly, find a nice apartment (Around $1200 a month plus parking). Since I'd lose the Jetta, I'd replace it with an R56 Mini Cooper JCW (used, in red with white stripes and white roof, or gray with black stripes and black roof, or black with white stripes and white roof, roughly $25K) and get a 996 Turbo Cabriolet (roughly 80K), 2002 Range Rover (10K), and a Triumph Thruxton (9K).
That's 124K. I'll put the rest away.
Quote from: Raza on January 06, 2010, 10:31:34 AM
I'd move to Philly, find a nice apartment (Around $1200 a month plus parking). Since I'd lose the Jetta, I'd replace it with an R56 Mini Cooper JCW (used, in red with white stripes and white roof, or gray with black stripes and black roof, or black with white stripes and white roof, roughly $25K) and get a 996 Turbo Cabriolet (roughly 80K), 2002 Range Rover (10K), and a Triumph Thruxton (9K).
That's 124K. I'll put the rest away.
that's a lot of parking spots to lease
Quote from: Vinsanity on January 06, 2010, 10:38:14 AM
that's a lot of parking spots to lease
It's really only two. The Rangie would likely stay at my parents' house, as I wouldn't need it often (the Mini and 911 are going to be more than practical enough 99% of the time) and they would be able to get some more use out of it. The Triumph and the Mini could share the same spot. I assume it'll be around $400 a month to park them (200 per spot is about average in Philly, I believe, if not a little high), and they may charge a small fee for keeping the bike and the Mini in the same spot.
Quote from: sportyaccordy on January 06, 2010, 08:57:46 AM
Man having a house paid off would be so boss.
I thought the same thing until I realized that just the annual interest you earn would be enough to finance a decent mortgage. Not to mention the tax deduction you could take from the mortgage interest you pay.
Quote from: Vinsanity on January 06, 2010, 10:57:02 AM
I thought the same thing until I realized that just the annual interest you earn would be enough to finance a decent mortgage. Not to mention the tax deduction you could take from the mortgage interest you pay.
Why put the money you make from interest into a home when you could just pocket + reinvest that? 10 years at 5%, you make back 60+% of your money before Uncle Sam takes his cut, and I don't think you pay tax until you cash out. I'd rather take my risks with that and pay lower property taxes on a more humble home than live in a McMansion.
I'm not necessarily talking about moving into a McMansion. Let's look at 2 scenarios:
Scenario 1: put down $100k toward a home, and use investment earnings to finance a $300k mortgage
investment earnings: $75,000/yr @ 8%
mortgage principal+int: $1600/mo = $19,200/yr
net remaining: $55,800/yr
Scenario 2: buy $400k home with cash on hand and invest the remainder
investment earnings: $50,000/yr @ 8%
mortgage principal+int: $0
net remaining: $50,000/yr
you come out slightly on top if you finance a mortgage with the interest and investment earnings, and that's before taking the tax deduction into consideration.
Quote from: Vinsanity on January 06, 2010, 01:50:57 PM
I'm not necessarily talking about moving into a McMansion. Let's look at 2 scenarios:
Scenario 1: put down $100k toward a home, and use investment earnings to finance a $300k mortgage
investment earnings: $75,000/yr @ 8%
mortgage principal+int: $1600/mo = $19,200/yr
net remaining: $55,800/yr
Scenario 2: buy $400k home with cash on hand and invest the remainder
investment earnings: $50,000/yr @ 8%
mortgage principal+int: $0
net remaining: $50,000/yr
you come out slightly on top if you finance a mortgage with the interest and investment earnings, and that's before taking the tax deduction into consideration.
It'd be worth $6000/year to me to have the peace of mind of not having a mortgage.
Quote from: Vinsanity on January 06, 2010, 01:50:57 PM
I'm not necessarily talking about moving into a McMansion. Let's look at 2 scenarios:
Scenario 1: put down $100k toward a home, and use investment earnings to finance a $300k mortgage
investment earnings: $75,000/yr @ 8%
mortgage principal+int: $1600/mo = $19,200/yr
net remaining: $55,800/yr
Scenario 2: buy $400k home with cash on hand and invest the remainder
investment earnings: $50,000/yr @ 8%
mortgage principal+int: $0
net remaining: $50,000/yr
you come out slightly on top if you finance a mortgage with the interest and investment earnings, and that's before taking the tax deduction into consideration.
8% annual return is pretty optimistic, no? Esp in this economy. Ur plan does make sense though. I would just get as short a loan term as possible...
Quote from: sportyaccordy on January 06, 2010, 03:33:57 PM
8% annual return is pretty optimistic, no? Esp in this economy. Ur plan does make sense though. I would just get as short a loan term as possible...
In this economy, it does seem quite ambitious, but remember that the S&P 500 has averaged about an 8% annual return since it started: http://en.wikipedia.org/wiki/Standard_%26_Poor%27s_500#Total_Annual_Returns_.28b.29 (http://en.wikipedia.org/wiki/Standard_%26_Poor%27s_500#Total_Annual_Returns_.28b.29)
Not much would change, lifestyle wise.
Quote from: Payman on January 05, 2010, 09:03:49 PM
If I was in my 20's I might agree with you. But this is my retirement plan
:facepalm:
The rainy day liquidity is more important the older you are, not less.
Quote from: Lebowski on January 06, 2010, 06:14:48 PM
:facepalm:
The rainy day liquidity is more important the older you are, not less.
How so?
And don't forget, no mortgage or debt of any kind... $10,000/mo income.
Quote from: Payman on January 06, 2010, 08:16:36 PM
How so?
And don't forget, no mortgage or debt of any kind... $10,000/mo income.
When young you have years of working ahead of you. When old you are about to retire, and not having any cash saved is silly.
I just hope you think you need more than 25k to retire on IRL...
Quote from: Payman on January 06, 2010, 08:16:36 PM
How so?
And don't forget, no mortgage or debt of any kind... $10,000/mo income.
Shit breaks. Things go wrong. You get sick, etc. You've got an awful lot of assets in your scenario that could require repairs, and at the minimum will require significant upkeep (maintenance, property taxes, insurance payments, etc). You've also got a house to furnish, etc.
The $10k/mo income is great, but doesn't really help if something big comes up today. Unless you want to borrow ... which defeats the whole purpose of being "debt free".
You need to have liquid cash available for unexpected contingencies, and the older you get (and more assets you have) the more important this becomes.
I would purchase:
2003 Toyota Tacoma 4x4
1998 BMW M3 sedan
AP1 S2000
That's ~$45K worth of vehicles.
I'd buy a small house just across the border in Vermont (Something like this (http://www.realtor.com/realestateandhomes-detail/892-Overlea-Rd_Bennington_VT_05201_1112046834)). Figure between $5k and $10K to furnish the house, but closer to $5K, as I have no issues with used items for some stuff.
So that's around $245K.
I'd take another $80K and keep it between a checkings and a savings account, to have a decent amount of money immediately liquid.
That leaves $675K. I'd pay off my student loans and set money aside for the year of schooling that I have left. That leaves more than $655K, which would be put into an investment portfolio (on which I would consult with a financial advisor).
Quote from: Minpin on January 06, 2010, 08:19:34 PM
When young you have years of working ahead of you. When old you are about to retire, and not having any cash saved is silly.
I just hope you think you need more than 25k to retire on IRL...
Again, did you miss the groceries and booze part? And I have absolutely no clue. Please tell me why I can't retire on $25,000.
Since I'm not taking this seriously, I should revise my plans. I'll put 25% down on a $200,000 mortgage, stock up on cold porridge, and keep $950,000 in the bank because, well, you never know.
I like porridge, although it would need to be hot, made with milk, and served with sugar.
Probably wouldn't change much of my lifestyle. I already have relatively low expenses. I'd start paying for everything on my own (currently my dad pays for my rent, car insurance, and any minimal charges that school might cost), and probably get a new car, and bank the rest. I would be a whole lot less stingy about going out though.
For any of the college students, replacing everything we currently own with $1MM is going to be a huge gain. Of course, I'm assuming that when you say me and my existing family, I'm assuming you mean myself and my dependents (which I don't have any, of course), not myself, my parents, and my siblings.
Well, lets see:
I would pay off for this final year of school (26K)
Give my parents 200k
Pay off whatever debt I have (car loan really - 9K)
Give my sister my current car and buy a new car, although I don't know which so lets just say 50K
Make use of all of these first time buyer credits that are still going on and buy a condo in the city (300k)
So far thats a total of 585K leaving me with 415K
I would invest 250K
Put 100k in a savings account should anything come up
Put 50k in a checking account for spending money
And for the last 15K I would take me and a bunch of friends to Vegas for a badass weekend.
Quote from: Xer0 on January 07, 2010, 12:29:28 PM
Well, lets see:
I would pay off for this final year of school (26K)
Give my parents 200k
Pay off whatever debt I have (car loan really - 9K)
Give my sister my current car and buy a new car, although I don't know which so lets just say 50K
Make use of all of these first time buyer credits that are still going on and buy a condo in the city (300k)
So far thats a total of 585K leaving me with 415K
I would invest 250K
Put 100k in a savings account should anything come up
Put 50k in a checking account for spending money
And for the last 15K I would take me and a bunch of friends to Vegas for a badass weekend.
You really don't need 150k in your savings/checking. I'd put maybe 40k in my savings account and 5k in checking. You can instantly transfer money from savings to checking for no fees these days. I do it all the time, actually. I put what money I want to spend for the week on my checking account and stuff. And it usually only take 2 days for funds to settle and clear when going from an investment account and savings. So how often are you gonna need more than ~40k? :lol:
Just my .02...
Quote from: Minpin on January 07, 2010, 12:39:09 PM
You really don't need 150k in your savings/checking. I'd put maybe 40k in my savings account and 5k in checking. You can instantly transfer money from savings to checking for no fees these days. I do it all the time, actually. I put what money I want to spend for the week on my checking account and stuff. And it usually only take 2 days for funds to settle and clear when going from an investment account and savings. So how often are you gonna need more than ~40k? :lol:
Just my .02...
Yeah, it is really excessive but I'd still keep it at that. At the least, I'd bring it down to a 90/10k split.
I think I found my place: http://www.realtor.com/realestateandhomes-detail/17121-Treehaven_Huntington-Beach_CA_92647_1114788088 (http://www.realtor.com/realestateandhomes-detail/17121-Treehaven_Huntington-Beach_CA_92647_1114788088)
4 car garage, sucka :mrcool:
Now, if only I could find something to put in it...
2005 Mercedes CLS
2007 Cadillac Escalade
2005 Porsche 997 convertible
1962 Lincoln Continental convertible
It would probably take me forever to acquire all those toys if I don't want to burn through my cash too quickly, though
- 997 4S
- Down payment on a lovely Tutor in set on the back nine of our towns country club
- Invest the rest
Quote from: Submariner on January 07, 2010, 08:12:22 PM
- 997 4S
- Down payment on a lovely Tutor in set on the back nine of our towns country club
- Invest the rest
Houses on a golf course seem like a god idea until you live in one. IMO... :huh:
Quote from: Submariner on January 07, 2010, 08:12:22 PM
- 997 4S
- Down payment on a lovely Tutor in set on the back nine of our towns country club
- Invest the rest
Lovely tutor? So, like, a pretty woman telling you how to do math?
:lol:
Quote from: Psilos on January 07, 2010, 09:27:31 PM
Lovely tutor? So, like, a pretty woman telling you how to do math?
:lol:
I started to be an ass and say something about that...I guess you weren't similarly inhibited
:tounge:
Someone had to.
I didn't catch it originally...
Who calls a house a tutor anyways? Is that term reserved for the elite tightasses of the northeastern pompous dickholes or what? :rolleyes:
Kidding, Subbie. I'm sure you are a fine gentleman. :ohyeah:
Tudor is a style of home, in the same way Victorian, Cape, or Colonial are home styles.
http://architecture.about.com/od/periodsstyles/ig/House-Styles/tudor-utica-jc-5240029.htm
They are actually very elegant looking homes. I like the style a lot.
Since the original premise has been thrown away. Give me a million dollars tax free today and I will retire tomorrow. I'd invest it in something low risk.
Quote from: R-inge on January 08, 2010, 07:10:35 AM
Tudor is a style of home, in the same way Victorian, Cape, or Colonial are home styles.
http://architecture.about.com/od/periodsstyles/ig/House-Styles/tudor-utica-jc-5240029.htm
They are actually very elegant looking homes. I like the style a lot.
Yup.
(http://photos.flexmls.com//rus/20090728150722653380000000.jpg)
Quote from: R-inge on January 08, 2010, 07:10:35 AM
Tudor is a style of home, in the same way Victorian, Cape, or Colonial are home styles.
http://architecture.about.com/od/periodsstyles/ig/House-Styles/tudor-utica-jc-5240029.htm
They are actually very elegant looking homes. I like the style a lot.
No kidding.
;) :lol:
This would leave me worse off than I am now. No thanks.
Quote from: R-inge on January 08, 2010, 07:10:35 AM
Tudor is a style of home, in the same way Victorian, Cape, or Colonial are home styles.
http://architecture.about.com/od/periodsstyles/ig/House-Styles/tudor-utica-jc-5240029.htm
They are actually very elegant looking homes. I like the style a lot.
I like tudors. There are some really nice ones in my neighborhood. I have a colonial, but I wouldn't mind a Spanish-style tudor.
Quote from: dazzleman on January 08, 2010, 07:43:56 PM
This would leave me worse off than I am now. No thanks.
With a million in my pocket, I'd have a nicer place to stay and a nicer car to drive to work. It's not exactly retirement money.
Quote from: Raza link=topic=20947.msg1239124#msg1239124 date=1263005166
With a million in my pocket, I'd have a nicer place to stay and a nicer car to drive to work. It's not exactly retirement money.
No, not unless you're much older. I have over a million dollars in investments now, plus a house that's nearly paid off, and I'm still stuck working.
Million just isn't what it used to be.
Quote from: Minpin on January 08, 2010, 07:52:32 PM
Million just isn't what it used to be.
It sure isn't, though net worths of over a million dollars are still surprisingly uncommon, even in wealthy areas like Fairfield County. My lawyer was telling me that most estate in my county are under a million dollars and I was surprised by that somewhat.
Quote from: dazzleman on January 08, 2010, 07:53:51 PM
It sure isn't, though net worths of over a million dollars are still surprisingly uncommon, even in wealthy areas like Fairfield County. My lawyer was telling me that most estate in my county are under a million dollars and I was surprised by that somewhat.
While I have no idea what Fairfield country is all about I am not surprised people can't manage their money. Just because you get a high salary doesn't mean you have financial sense. Ever hear the stories of what people's lives are like after they win the big lotteries? It is hilariously depressing.
I guess I can be thankful my parents know what they are doing. We still clip coupons and damn well use them. :lol:
Quote from: Raza link=topic=20947.msg1239124#msg1239124 date=1263005166
With a million in my pocket, I'd have a nicer place to stay and a nicer car to drive to work. It's not exactly retirement money.
Maybe you can't retire on just that million, but it would sure make for a nice retirement investment in 20 years!
Quote from: Minpin on January 08, 2010, 07:57:16 PM
While I have no idea what Fairfield country is all about I am not surprised people can't manage their money. Just because you get a high salary doesn't mean you have financial sense. Ever hear the stories of what people's lives are like after they win the big lotteries? It is hilariously depressing.
I guess I can be thankful my parents know what they are doing. We still clip coupons and damn well use them. :lol:
Fairfield County is one of the wealthiest counties in the country, so I was surprised that more people didn't leave behind estates of $1 million plus. The average house here is worth not much less than $1 million in many parts of the county, and if you're older and have it paid off, plus have some investments, that should easily get you past $1 million.
Quote from: Psilos on January 08, 2010, 07:59:38 PM
Maybe you can't retire on just that million, but it would sure make for a nice retirement investment in 20 years!
....if it's invested wisely, and the markets don't tank again. The last 10 years, you'd be lucky to have held on to what you started with.
Quote from: dazzleman on January 08, 2010, 08:04:21 PM
Fairfield County is one of the wealthiest counties in the country, so I was surprised that more people didn't leave behind estates of $1 million plus. The average house here is worth not much less than $1 million in many parts of the county, and if you're older and have it paid off, plus have some investments, that should easily get you past $1 million.
Interesting. Just goes to show that the guy driving that new luxury car every year isn't as wealthy as he looks. I would love to know what some people in my area make, stuff like that is interesting to me. Every time I meet some guy who works for my dad the first thing I ask once we are in private is how much this guy is making, and then what is it exactly that he does. :lol:
Quote from: dazzleman on January 08, 2010, 07:44:37 PM
I like tudors. There are some really nice ones in my neighborhood. I have a colonial, but I wouldn't mind a Spanish-style tudor.
Colonial and Tudor are two of my favorite house styles.
Quote from: dazzleman on January 08, 2010, 07:53:51 PM
It sure isn't, though net worths of over a million dollars are still surprisingly uncommon, even in wealthy areas like Fairfield County. My lawyer was telling me that most estate in my county are under a million dollars and I was surprised by that somewhat.
Most people there are living above their means? My dad's net worth is over a mil, and he probably makes a bit less than most Fairfield county residents (granted, my parents are frugal and live in a low cost area, but still).
Quote from: The Pirate on January 08, 2010, 08:24:03 PM
Most people there are living above their means? My dad's net worth is over a mil, and he probably makes a bit less than most Fairfield county residents (granted, my parents are frugal and live in a low cost area, but still).
I find it interesting you know your dad's net worth. Not that there's anything wrong with that ( :lol:); I have just never been privy to that kind of info. I mean I know roughly what his salary is, but anything beyond that is a crap shoot. I guess it's just two totally different kind of relationships, as the even thought of asking my dad what his net worth is seems awkward and intrusive. In conclusion, I have no idea where I am going with this; I think the cold is making me go crazy.
Quote from: Minpin on January 08, 2010, 08:48:36 PM
I find it interesting you know your dad's net worth. Not that there's anything wrong with that ( :lol:); I have just never been privy to that kind of info. I mean I know roughly what his salary is, but anything beyond that is a crap shoot. I guess it's just two totally different kind of relationships, as the even thought of asking my dad what his net worth is seems awkward and intrusive. In conclusion, I have no idea where I am going with this; I think the cold is making me go crazy.
I know what you mean. But Adam is older than you are, and sometimes parents take their kids into their confidence when they truly consider them adults.
Having said that, I have no idea how much money my dad has. I'm pretty sure though that it's less than I have.
Quote from: dazzleman on January 08, 2010, 08:54:50 PM
I know what you mean. But Adam is older than you are, and sometimes parents take their kids into their confidence when they truly consider them adults.
Having said that, I have no idea how much money my dad has. I'm pretty sure though that it's less than I have.
Very true, I am still just a young man; I forget Adam is almost middle age by now. :evildude: :lol:
I guess whatever my parents have doesn't affect me anyway. They have said multiple times how they are gonna spend every last dime before they die. Bastards. :lol:
Quote from: Minpin on January 08, 2010, 08:48:36 PM
I find it interesting you know your dad's net worth. Not that there's anything wrong with that ( :lol:); I have just never been privy to that kind of info. I mean I know roughly what his salary is, but anything beyond that is a crap shoot. I guess it's just two totally different kind of relationships, as the even thought of asking my dad what his net worth is seems awkward and intrusive. In conclusion, I have no idea where I am going with this; I think the cold is making me go crazy.
He keeps me in the loop because I'm the executor of his estate if something should happen to both him and my mom.
Quote from: The Pirate on January 08, 2010, 09:00:36 PM
He keeps me in the loop because I'm the executor of his estate if something should happen to both him and my mom.
Ah, that makes sense. :ohyeah:
Guess ya'll didn't catch my Seinfeld reference. :cry:
Quote from: Minpin on January 08, 2010, 09:01:59 PM
Ah, that makes sense. :ohyeah:
Guess ya'll didn't catch my Seinfeld reference. :cry:
I saw your Seinfeld reference, but it didn't seem applicable to what we were talking about.
Quote from: dazzleman on January 08, 2010, 08:54:50 PM
But Adam is older than you are,
Quote from: Minpin on January 08, 2010, 08:58:02 PM
I forget Adam is almost middle age by now.
What the hell, Dave?!?! Why did you start this? :heated: :lol:
Quote from: The Pirate on January 08, 2010, 09:00:36 PM
He keeps me in the loop because I'm the executor of his estate if something should happen to both him and my mom.
That's pretty smart, and probably unusual. It's not something most people are comfortable discussing.
Quote from: The Pirate on January 08, 2010, 09:04:31 PM
What the hell, Dave?!?! Why did you start this? :heated: :lol:
You dish that shit out to me all the time. Why should I worry that you're now on the receiving end of it from some wiseass who's younger than you are? :evildude:
Quote from: dazzleman on January 08, 2010, 09:04:21 PM
I saw your Seinfeld reference, but it didn't seem applicable to what we were talking about.
Fine, mister stiffy old guy.
Quote from: The Pirate on January 08, 2010, 09:04:31 PM
What the hell, Dave?!?! Why did you start this? :heated: :lol:
:lol:
The beauties of being young.....
Quote from: Minpin on January 08, 2010, 09:08:30 PM
Fine, mister stiffy old guy.
Not trying to be stuffy, man. I just didn't see the relevance of that particular expression to a discussion about money.
Quote from: dazzleman on January 08, 2010, 09:05:36 PM
You dish that shit out to me all the time. Why should I worry that you're now on the receiving end of it from some wiseass who's younger than you are? :evildude:
Minpin and I are in the same decade. Can't say the same about you...
Quote from: The Pirate on January 08, 2010, 09:14:30 PM
Minpin and I are in the same decade. Can't say the same about you...
Barely. I was only in the 80s for two weeks. :lol:
Quote from: The Pirate on January 08, 2010, 09:14:30 PM
Minpin and I are in the same decade. Can't say the same about you...
When you get to be his age, almost no one can...
:lol:
Adam, you're 28-ish, right?
Quote from: Psilos on January 08, 2010, 09:15:49 PM
When you get to be his age, almost no one can...
:lol:
Hardy har har Psilos. Shouldn't you be toking up right now? Maybe you need to step it up to peyote or something like that. :evildude:
Quote from: Psilos on January 08, 2010, 09:16:37 PM
Adam, you're 28-ish, right?
Turned 27 in December. But I feel a lot younger.
Quote from: Minpin on January 08, 2010, 09:15:42 PM
Barely. I was only in the 80s for two weeks. :lol:
Doesn't matter. It holds true for the purposes of my point. (Damn, are you really that young?!)
Quote from: dazzleman on January 08, 2010, 09:04:54 PM
That's pretty smart, and probably unusual. It's not something most people are comfortable discussing.
It's relatively recent. I didn't even know how much he made til I was 17 or so. He also knows that I fully realize it's confidential information.
Quote from: The Pirate on January 08, 2010, 09:21:42 PM
Doesn't matter. It holds true for the purposes of my point. (Damn, are you really that young?!)
No, you're that OLD.... :lol:
Quote from: The Pirate on January 08, 2010, 09:21:42 PM
Doesn't matter. It holds true for the purposes of my point. (Damn, are you really that young?!)
Hey! 20 is old enough! :lol:
Quote from: The Pirate on January 08, 2010, 09:22:59 PM
It's relatively recent. I didn't even know how much he made til I was 17 or so. He also knows that I fully realize it's confidential information.
Did he not help you out in college at all? I mention you saying something about college loans/debts somewhere..
Quote from: The Pirate on January 08, 2010, 09:22:59 PM
It's relatively recent. I didn't even know how much he made til I was 17 or so. He also knows that I fully realize it's confidential information.
You knew pretty young what your dad was making. I don't think I had an inkling until I was much older. My parents never believed in sharing that type of information.
My nephew was telling me about this guy who's a customer at the restaurant where he works, and how he was always showing off his fancy car, and bragging about how much money he made. So I asked Rob how much this guy made, and he said $300,000 per year. My response was, "That's all." Rob said to me, "that's the most egotistical thing you have ever said." I would normally never say something like that, but when somebody is going to be such a showoff, he better have more than that to back it up.
Quote from: Minpin on January 08, 2010, 09:25:37 PM
Did he not help you out in college at all? I mention you saying something about college loans/debts somewhere..
Adam's been in college for about 10 years. His dad probably got sick of paying a while back.... :lol:
Quote from: dazzleman on January 08, 2010, 09:25:59 PM
You knew pretty young what your dad was making. I don't think I had an inkling until I was much older. My parents never believed in sharing that type of information.
My nephew was telling me about this guy who's a customer at the restaurant where he works, and how he was always showing off his fancy car, and bragging about how much money he made. So I asked Rob how much this guy made, and he said $300,000 per year. My response was, "That's all." Rob said to me, "that's the most egotistical thing you have ever said." I would normally never say something like that, but when somebody is going to be such a showoff, he better have more than that to back it up.
300k won't get ya too far these days if you live like a king..,..
Quote from: Minpin on January 08, 2010, 09:25:37 PM
Did he not help you out in college at all? I mention you saying something about college loans/debts somewhere..
Oh, he definitely did. He paid for 90% of 4 years worth of schooling. I've changed majors and transferred so many times that I'm a bit behind schedule. He'd still pay if I asked him to, but money is never free, and I want to do things on my own terms. Stubborn, I know.
But he's a good man, one of his goals was to be able to put his kids through school (because his parents couldn't do that for him), and he did, for all 3 of us.
Quote from: Minpin on January 08, 2010, 09:25:00 PM
Hey! 20 is old enough! :lol:
For what? Not drinking, clearly.
;) :lol:
Quote from: Minpin on January 08, 2010, 09:27:35 PM
300k won't get ya too far these days if you live like a king..,..
Yes, that was my point. This was a couple of years ago. This guy is now probably in foreclosure.
Quote from: The Pirate on January 08, 2010, 09:29:25 PM
Oh, he definitely did. He paid for 90% of 4 years worth of schooling. I've changed majors and transferred so many times that I'm a bit behind schedule. He'd still pay if I asked him to, but money is never free, and I want to do things on my own terms. Stubborn, I know.
But he's a good man, one of his goals was to be able to put his kids through school (because his parents couldn't do that for him), and he did, for all 3 of us.
:ohyeah:
Stubborn maybe, but smart and I'm sure you've earned his respect.
Quote from: Minpin on January 08, 2010, 09:27:35 PM
300k won't get ya too far these days if you live like a king..,..
Then again, ten times less still nets a comfortable life.
Quote from: The Pirate on January 08, 2010, 09:29:25 PM
Oh, he definitely did. He paid for 90% of 4 years worth of schooling. I've changed majors and transferred so many times that I'm a bit behind schedule. He'd still pay if I asked him to, but money is never free, and I want to do things on my own terms. Stubborn, I know.
But he's a good man, one of his goals was to be able to put his kids through school (because his parents couldn't do that for him), and he did, for all 3 of us.
That's the same philosophy my pops has. He had to work two jobs and go to night school for 4 years to get through and he didn't want me and my sister to have to do that. She went to Baylor, and I am going to an equally expensive(since it's out of state) South Carolina. He's a good man.
Quote from: The Pirate on January 08, 2010, 09:20:59 PM
Turned 27 in December. But I feel a lot younger.
Ah, late twenties, here you come!
:lol:
Quote from: Psilos on January 08, 2010, 09:30:00 PM
For what? Not drinking, clearly.
;) :lol:
Laws? Who cares about laws?
Quote from: Psilos on January 08, 2010, 09:31:54 PM
Then again, ten times less still nets a comfortable life.
But who wants to live on 30k a year? Only hippies who...oh wait. :rastaman: :lol:
Quote from: dazzleman on January 08, 2010, 09:30:07 PM
Yes, that was my point. This was a couple of years ago. This guy is now probably in foreclosure.
Unfortunate he felt the need to exercise his penis instead of saving a buck or two.
Quote from: The Pirate on January 08, 2010, 09:20:59 PM
Turned 27 in December. But I feel a lot younger.
I feel younger than I am too. Sometimes, I really can't believe how old I am. It seems like yesterday that I was in my early 20s.
Quote from: dazzleman on January 08, 2010, 09:34:27 PM
I feel younger than I am too. Sometimes, I really can't believe how old I am. It seems like yesterday that I was in my early 20s.
You feel 70?
OK, OK, I'll shaddup...
Quote from: Psilos on January 08, 2010, 09:31:54 PM
Then again, ten times less still nets a comfortable life.
Where? There's no way I could live on $30K per year.
Quote from: Psilos on January 08, 2010, 09:35:12 PM
You feel 70?
OK, OK, I'll shaddup...
:lol: :lol: :lol:
You're killing me, man. Keep up the abuse. I love it!
Quote from: dazzleman on January 08, 2010, 09:35:19 PM
Where? There's no way I could live on $30K per year.
Yeah, all those geriatric medications can't be cheap....
Quote from: Psilos on January 07, 2010, 09:27:31 PM
Lovely tutor? So, like, a pretty woman telling you how to do math?
:lol:
For that kind of down payment, I expect her to do a lot more than math. ;)
Tudor god damnit. :lol:
Quote from: dazzleman on January 08, 2010, 09:31:07 PM
:ohyeah:
Stubborn maybe, but smart and I'm sure you've earned his respect.
Thanks. I hope I have. My pops is an amazing man, and I fear I took too much for granted when I was younger.
Going back to something more on topic....
All I do know is that starting your own business is the way to go...I have seen way too many small companies get bought out for millions to lean me any other way. When a 3 man operation gets bought out for 1.5 million doing 100k of business a year why bother with corporate BS? All you get is a (mildly safe) security blanket.
Quote from: dazzleman on January 08, 2010, 09:35:19 PM
Where? There's no way I could live on $30K per year.
I make $30k, and I'm comfortable.
I mean, I don't own a house, and I drive older cars, etc., but I have money in the bank, and I sure don't starve.
Quote from: dazzleman on January 08, 2010, 09:35:46 PM
:lol: :lol: :lol:
You're killing me, man. Keep up the abuse. I love it!
Shit, I better back off, before you keel over and die from all that LOL-ing.
Quote from: Psilos on January 08, 2010, 09:43:22 PM
I make $30k, and I'm comfortable.
I mean, I don't own a house, and I drive older cars, etc., but I have money in the bank, and I sure don't starve.
As long as you're happy nothing else should matter. I mean you're talking to the guy who's dream is to be in the Navy or Coast Guard. :lol:
Quote from: Psilos on January 08, 2010, 09:43:22 PM
I make $30k, and I'm comfortable.
I mean, I don't own a house, and I drive older cars, etc., but I have money in the bank, and I sure don't starve.
You live with your parents. Not all of us have that option. You won't forever either.
Quote from: Psilos on January 08, 2010, 09:44:03 PM
Shit, I better back off, before you keel over and die from all that LOL-ing.
I'm starting to feel the chest pains right now. I may have to reduce the level of badassery I display in order to limit the strain.... :evildude:
Quote from: dazzleman on January 08, 2010, 09:47:35 PM
You live with your parents. Not all of us have that option. You won't forever either.
I also pay fair rent. I probably only save $200/mo living here. :huh:
Quote from: dazzleman on January 08, 2010, 09:48:12 PM
I'm starting to feel the chest pains right now. I may have to reduce the level of badassery I display in order to limit the strain.... :evildude:
Reduce the level of badassery? How? I mean, 0 - 0 = 0, ya know?
Quote from: The Pirate on January 08, 2010, 09:43:16 PM
Thanks. I hope I have. My pops is an amazing man, and I fear I took too much for granted when I was younger.
Most everybody makes that mistake. The key is that you figured it out in time. I bet he has an equally high opinion of you.
Quote from: Psilos on January 08, 2010, 09:52:29 PM
Reduce the level of badassery? How? I mean, 0 - 0 = 0, ya know?
But, but, but, but, doesn't that speeding ticket I got 10 years ago count for something still? :huh:
:lol:
Quote from: Psilos on January 08, 2010, 09:51:02 PM
I also pay fair rent. I probably only save $200/mo living here. :huh:
I am pretty sure you're seriously underestimating what it would cost you to truly live on your own.
Quote from: dazzleman on January 08, 2010, 09:54:47 PM
But, but, but, but, doesn't that speeding ticket I got 10 years ago count for something still? :huh:
:lol:
OK, OK...
0.0000001 is a positive number...
Quote from: dazzleman on January 08, 2010, 09:55:16 PM
I am pretty sure you're seriously underestimating what it would cost you to truly live on your own.
Nope.
I moved back in. In other words, I know how much is costs to live. ;)
Quote from: Psilos on January 08, 2010, 09:57:08 PM
Nope.
I moved back in. In other words, I know how much is costs to live. ;)
I don't know how you even have enough money to buy your weed. You live very cheaply. I can't seem to get my expenses below $100,000 per year (after taxes) no matter how hard I try.
Quote from: Psilos on January 08, 2010, 09:57:08 PM
Nope.
I moved back in. In other words, I know how much is costs to live. ;)
d00d, that's rough. Once I moved out, there was no turning back. I love my parents, get along with them and love visiting them, but I'm always ready to leave when the visit's over.
Kudos to you, I couldn't do it.
Quote from: The Pirate on January 08, 2010, 09:59:24 PM
d00d, that's rough. Once I moved out, there was no turning back. I love my parents, get along with them and love visiting them, but I'm always ready to leave when the visit's over.
Kudos to you, I couldn't do it.
What's really surprising about the whole thing is that they took him back.
Quote from: dazzleman on January 08, 2010, 09:58:54 PM
I don't know how you even have enough money to buy your weed. You live very cheaply. I can't seem to get my expenses below $100,000 per year (after taxes) no matter how hard I try.
Yea, but I bet you still save about 150k though, at least. I mean I really don't know what you make but it has to be 250k at least. Saving more than 50% of your income is something most people could only dream of.
Quote from: Minpin on January 08, 2010, 10:16:57 PM
Yea, but I bet you still save about 150k though, at least. I mean I really don't know what you make but it has to be 250k at least. Saving more than 50% of your income is something most people could only dream of.
I save more than $150K per year.
I agree; very few people can save 50% or more of their income. I recognize that I'm very privileged in that respect.
Quote from: dazzleman on January 08, 2010, 10:25:58 PM
I save more than $150K per year.
I agree; very few people can save 50% or more of their income. I recognize that I'm very privileged in that respect.
That's remarkable. You should have a very comfortable retirement and I wouldn't worry too much about spending a little more than you would like to. Course, I am just a wittle kid. :lol:
You should get into boats, you could retire with a fantastic vessel to spend your weekends on. :praise:
Quote from: Minpin on January 08, 2010, 10:31:15 PM
That's remarkable. You should have a very comfortable retirement and I wouldn't worry too much about spending a little more than you would like to. Course, I am just a wittle kid. :lol:
You should get into boats, you could retire with a fantastic vessel to spend your weekends on. :praise:
I've always said, it's far better to have a friend with a boat than to own one yourself. Boats are just too much work for me. I'm more the type who likes to go someplace, kick back and relax. My needs are pretty simple, actually, which I why I have some trouble figuring out how I spend so much money.
Quote from: dazzleman on January 08, 2010, 10:37:40 PM
I've always said, it's far better to have a friend with a boat than to own one yourself. Boats are just too much work for me. I'm more the type who likes to go someplace, kick back and relax. My needs are pretty simple, actually, which I why I have some trouble figuring out how I spend so much money.
You live in the NE. Have you ever thought about retiring someplace w/ a cheaper cost of living?
Quote from: Lebowski on January 08, 2010, 10:41:19 PM
You live in the NE. Have you ever thought about retiring someplace w/ a cheaper cost of living?
I've thought about it, but I'd rather not if I don't have to. I really like my house and neighborhood, and the fact that I have a lot of friends and family nearby. I'd be more inclined to trade down to a cheaper house if that were necessary than to leave the area entirely.
Quote from: dazzleman on January 08, 2010, 10:43:20 PM
I've thought about it, but I'd rather not if I don't have to. I really like my house and neighborhood, and the fact that I have a lot of friends and family nearby. I'd be more inclined to trade down to a cheaper house if that were necessary than to leave the area entirely.
Leaving friends and family is hard.
Quote from: Lebowski on January 08, 2010, 10:45:32 PM
Leaving friends and family is hard.
Definitely.
Plus, I have plenty of room to trade down and still be comfortable. My house has some premium value because of the neighborhood and the fat that it's on a golf course. I could get a house for around $200,000 cheaper in the same town without giving up much in the way of comfort just by changing location a little bit.
Quote from: dazzleman on January 08, 2010, 09:58:54 PM
I don't know how you even have enough money to buy your weed. You live very cheaply. I can't seem to get my expenses below $100,000 per year (after taxes) no matter how hard I try.
0_0
Monster mortgage? Expensive hobbies that we don't know about? Whores? Gambling? I mean, I know you like expensive restaurants and such, but damn, $100k per year is a fuck ton for one person without some big expenses.
Jeebus, wanna send some my way? I mean, $10k is plenty. You'll never miss it. :lol:
Quote from: The Pirate on January 08, 2010, 09:59:24 PM
d00d, that's rough. Once I moved out, there was no turning back. I love my parents, get along with them and love visiting them, but I'm always ready to leave when the visit's over.
Kudos to you, I couldn't do it.
I get along well enough. They haven't been the stifling types since I was 16 or so. I hate to use the cliche that everyone who lives with their folks says to make it sound like they're cooler than they are ( :lol: ), but it's a pretty room mate-like relationship. I pay about 1/3 of the mortgage for rent.
Really, though, it's mostly because I'm lazy, don't want real room mates, don't want an apartment, and can't afford a house. Maybe when I get a raise in a couple of months... :lol:
Quote from: dazzleman on January 08, 2010, 10:25:58 PM
I save more than $150K per year.
I agree; very few people can save 50% or more of their income. I recognize that I'm very privileged in that respect.
Holy shit, man, and you complain about not being able to retire and hating your job?!
Quote from: Psilos on January 09, 2010, 12:04:51 AM
Holy shit, man, and you complain about not being able to retire and hating your job?!
You have to take what I say with a grain of salt. Contrary to what all you people say, I'm not that old, and I don't really expect to be able to retire at my age.
My job has been very difficult the last 3 years or so. I recognize that I am privileged financially, but it's always a battle to determine whether the money is worth the cost in other areas. I work in an environment where many people have little to no life other than their job, and expect others to be in the same position. I have to decide whether I can manage the demands of this job to tolerable levels and reap the financial benefit for as long as I can, or whether (and really, when) I should step down to a less demanding job that doesn't pay as well. There are definite financial benefits to being able to sock away large amounts of money every year that I will reap in later years (if the job doesn't kill me first :lol:) as my house will be paid off and I will get significant investment income. I have to weigh the freedom that that will bring at a relatively young age against the demands I'm dealing with now.
Quote from: Psilos on January 08, 2010, 11:57:19 PM
0_0
Monster mortgage? Expensive hobbies that we don't know about? Whores? Gambling? I mean, I know you like expensive restaurants and such, but damn, $100k per year is a fuck ton for one person without some big expenses.
Jeebus, wanna send some my way? I mean, $10k is plenty. You'll never miss it. :lol:
No to all of those. That's the whole thing. My expensive lifestyle is so embedded across so many different areas of expenditure that it's hard to figure out how to reduce expenses.
As an example, my mortgage interest last year was only about $9,000, so that's hardly a monster mortgage. It's a lot of little things. Here's a general list
Mortgage interest -- $9k
Property taxes -- $11k
Communication / TV -- $3K
Electricity -- $2k
Commutation -- $4k
Heat -- $5k
Food / Dining out -- $12k
House cleaning -- $7k
Yard (grass cutting, leaves, snow removal) -- $4k
Gifts -- $3k
General out-of-pocket -- $7k
Home maintenance -- $8k
Vacations -- $6k
Health care -- $4k
Insurance (auto, home, disability) -- $6k
Charitable donations -- $8k
Auto related --- $2k
Other -- $7k
Total -- $108k
Read it and weep. I wish I could say I was spending the money on whores.... :lol:
Damn Dazzle... I was gonna say, that's a lot of dough, but month to month none of this stuff is that much. Your property tax though.... damn
I am hoping to keep all my expenses below $18K this year. Rent, food, phone, everything. Lol.
Quote from: sportyaccordy on January 09, 2010, 08:45:07 AM
Damn Dazzle... I was gonna say, that's a lot of dough, but month to month none of this stuff is that much. Your property tax though.... damn
I am hoping to keep all my expenses below $18K this year. Rent, food, phone, everything. Lol.
My property tax is pretty high, but if I lived in Westchester rather than Connecticut, it would be double for a similar quality of house.
As you can see, there's not that much I can cut without making drastic changes. To really cut expenses, I'd have to go to a much smaller house. That would slash property taxes, heating costs, maintenance and yard costs. That could also lead to dropping the housekeeper. All that could add up to nearly $20k per year.
I don't know how you can keep your expenses under $18k. That's really low.
If we can keep our current jobs, I'd use $350k as a down payment on a nice house, put the rest into retirement investments (that's the F-U money), and then use our current salaries to pay off our current expenses. The windfall would be used to pay off the house mortgage ahead of schedule.
No unnecessary automotive indulgences.
Quote from: Laconian on January 09, 2010, 10:41:28 AM
If we can keep our current jobs, I'd use $350k as a down payment on a nice house, put the rest into retirement investments (that's the F-U money), and then use our current salaries to pay off our current expenses. The windfall would be used to pay off the house mortgage ahead of schedule.
No unnecessary automotive indulgences.
"Fuck you" money is absolutely essential. I'm busily working to build a mountain of "fuck you" money to give me the greatest peace of mind. Don't let anything derail you from that.
Quote from: dazzleman on January 09, 2010, 10:01:46 AM
I don't know how you can keep your expenses under $18k. That's really low.
That is very impressive.
Quote from: R-inge on January 09, 2010, 11:27:48 AM
That is very impressive.
I think he shares an apartment with his girlfriend, and it's in a bad neighborhood so it's probably not that expensive. So I'm sure that helps.
Still, $18K is low for annual expenses. I don't think I could ever pull that off.
Dazzle, WTF do you do for fun? Only 6k for vacations? How much time do you get off every year?
No wonder you are burned out, I don't see any money alloted for fun time except for a wimpy 6k on vacations. Find something fun to do, man!
Quote from: Minpin on January 09, 2010, 11:35:48 AM
Dazzle, WTF do you do for fun? Only 6k for vacations? How much time do you get off every year?
No wonder you are burned out, I don't see any money alloted for fun time except for a wimpy 6k on vacations. Find something fun to do, man!
Some of my vacation costs are buried in other things, like food and entertainment, or other expenses (which include sports and leisure). Vacation costs mostly consist of hotels and organized tours.
I have plenty of fun when I'm off work. It doesn't have to cost a lot of money. If I want to do something, I don't spare the expense.
Quote from: dazzleman on January 09, 2010, 11:34:08 AM
I think he shares an apartment with his girlfriend, and it's in a bad neighborhood so it's probably not that expensive. So I'm sure that helps.
Still, $18K is low for annual expenses. I don't think I could ever pull that off.
And in NYC?!
Quote from: dazzleman on January 09, 2010, 11:40:01 AM
Some of my vacation costs are buried in other things, like food and entertainment.
I have plenty of fun when I'm off work. It doesn't have to cost a lot of money. If I want to do something, I don't spare the expense.
That's good to hear. There has to be a balance between having fun while working and spending some of your money, and saving enough so you can retire earlier. No way in hell would I make myself miserable by living extremely cheap if I didn't have to just to retire early. I would hate to miss out on all the fun life middle age as to offer.
Quote from: Laconian on January 09, 2010, 11:41:17 AM
And in NYC?!
There are two NYCs. Sporty lives in the cheaper one. There's the high-flying Manhattan lifestyle, and then there are the poorer neighborhoods in the outer boroughs. Sporty lives in a dicey neighborhood in Brooklyn, and it's probably not that expensive to live there.
Quote from: Laconian on January 09, 2010, 11:41:17 AM
And in NYC?!
he's been talking about moving to Texas, so it might be doable there. In NYC, no way
Quote from: Minpin on January 09, 2010, 11:44:14 AM
That's good to hear. There has to be a balance between having fun while working and spending some of your money, and saving enough so you can retire earlier. No way in hell would I make myself miserable by living extremely cheap if I didn't have to just to retire early. I would hate to miss out on all the fun life middle age as to offer.
I don't live cheaply, by any means. The problem for me is not that I don't have enough fun when I'm not working, but that I work too much, and am miserable most of the time I'm doing it. That has to change in 2010 or I have to make a major change. There's no question about it.
I dont have many bills.
Rent- 650
Utilities- 50
Phone- 85
Internet- 20
Food- 200
Gym- 43
So a little over 1000 a month actually now, since my car insurance is paid off and im selling it. Only other hurdle is CC (i have about 1600 left. Will prob pay it off over next 2 months)
I actually might stay in the city now if i can. If i move i will have to buy + insure + maintain a car. So things dont look too bad.
Quote from: dazzleman on January 09, 2010, 11:45:31 AM
I don't live cheaply, by any means. The problem for me is not that I don't have enough fun when I'm not working, but that I work too much, and am miserable most of the time I'm doing it. That has to change in 2010 or I have to make a major change. There's no question about it.
What are you hours normally? Wake up at 5 and don't get home till 8ish or so?
I have said it before, you should try and find a smaller firm where everyone is more relaxed about the "rules".
Quote from: sportyaccordy on January 09, 2010, 11:46:59 AM
I dont have many bills.
Rent- 650
Utilities- 50
Phone- 85
Internet- 20
Food- 200
Gym- 43
So a little over 1000 a month actually now, since my car insurance is paid off and im selling it. Only other hurdle is CC (i have about 1600 left. Will prob pay it off over next 2 months)
I actually might stay in the city now if i can. If i move i will have to buy + insure + maintain a car. So things dont look too bad.
I don't see an "Other" category. Everyone has to have an "Other" category...
Quote from: sportyaccordy on January 09, 2010, 11:46:59 AM
I dont have many bills.
Rent- 650
Utilities- 50
Phone- 85
Internet- 20
Food- 200
Gym- 43
So a little over 1000 a month actually now, since my car insurance is paid off and im selling it. Only other hurdle is CC (i have about 1600 left. Will prob pay it off over next 2 months)
I actually might stay in the city now if i can. If i move i will have to buy + insure + maintain a car. So things dont look too bad.
How do you get by on $200 per month for food? Do you cook everything yourself? If you're buying lunch in Manhattan, it has to be more than that.
And what about 'entertainment?' You must go out boozing sometimes, at least. Where does that show up in your budget?
Quote from: Minpin on January 09, 2010, 11:48:26 AM
What are you hours normally? Wake up at 5 and don't get home till 8ish or so?
I have said it before, you should try and find a smaller firm where everyone is more relaxed about the "rules".
I wake up at 6 am. I get home at 8 pm if I'm lucky.
This week was a killer. I worked one night until midnight. It's a terrible time of year (though for the past year, every time of year was terrible).
As I said, 2010 has to be the year things improve, or else I have to make a major change, regardless of the financial consequences. I still have stock to vest in through 2012, so I'd be leaving money on the table if I left. The people I work with are aware of my frustrations, and keep promising that things will get better. We'll see if that happens this year.
Quote from: dazzleman on January 09, 2010, 11:54:13 AM
I wake up at 6 am. I get home at 8 pm if I'm lucky.
This week was a killer. I worked one night until midnight. It's a terrible time of year (though for the past year, every time of year was terrible).
As I said, 2010 has to be the year things improve, or else I have to make a major change, regardless of the financial consequences. I still have stock to vest in through 2012, so I'd be leaving money on the table if I left. The people I work with are aware of my frustrations, and keep promising that things will get better. We'll see if that happens this year.
Yikes, those are some rough hours. My dad has never in all his working days had to stay that late. I guess it's the nature of your work though. Hopefully things will improve, or you can find something else to strive towards.
With me being out of work, there's no room for entertainment. And since im gonna be home for a while, i can cook all my meals at home. That figure might even have been an over estimation. So i could use a little of that to go out.
During work my budget was about 1600-1700 a month, which is still pretty low. NYC living is pretty cheap if you do it right.
Quote from: sportyaccordy on January 09, 2010, 12:06:29 PM
With me being out of work, there's no room for entertainment. And since im gonna be home for a while, i can cook all my meals at home. That figure might even have been an over estimation. So i could use a little of that to go out.
During work my budget was about 1600-1700 a month, which is still pretty low. NYC living is pretty cheap if you do it right.
Even out of work, you still need to have some fun, man.
Me + the lady have plenty of fun :lol:
Nah but i guess i can do another 100/mo to go for a dinner + some drinks every now and then
Quote from: sportyaccordy on January 09, 2010, 12:26:08 PM
Me + the lady have plenty of fun :lol:
Nah but i guess i can do another 100/mo to go for a dinner + some drinks every now and then
My buddy used to use 'the best things in life are free' as a pickup line.... :lol:
Quote from: Minpin on January 09, 2010, 11:35:48 AM
Dazzle, WTF do you do for fun? Only 6k for vacations? How much time do you get off every year?
No wonder you are burned out, I don't see any money alloted for fun time except for a wimpy 6k on vacations. Find something fun to do, man!
Only 6k for vacations? That sees like more than enough to me. :lol:
If I had a million dollars
(If I had a million dollars)
I'd buy you a house
(I would buy you a house)
If I had a million dollars
(If I had a million dollars)
I'd buy you furniture for your house
(Maybe a nice chesterfield or an ottoman)
And if I had a million dollars
(If I had a million dollars)
Well, I'd buy you a K-Car
(A nice Reliant automobile)
If I had a million dollars I'd buy your love
If I had a million dollars
I'd build a tree fort in our yard
If I had million dollars
You could help, it wouldn't be that hard
If I had million dollars
Maybe we could put like a little tiny fridge in there somewhere
You know, we could just go up there and hang out
Like open the fridge and stuff
There would already be laid out foods for us
Like little pre-wrapped sausages and things
They have pre-wrapped sausages but they don't have pre-wrapped bacon
Well, can you blame 'em
Uh, yeah
If I had a million dollars
(If I had a million dollars)
Well, I'd buy you a fur coat
(But not a real fur coat that's cruel)
And if I had a million dollars
(If I had a million dollars)
Well, I'd buy you an exotic pet
(Yep, like a llama or an emu)
And if I had a million dollars
(If I had a a million dollars)
Well, I'd buy you John Merrick's remains
(Ooh, all them crazy elephant bones)
And If I had a million dollars I'd buy your love
If I had a million dollars
We wouldn't have to walk to the store
If I had a million dollars
Now, we'd take a limousine 'cause it costs more
If I had a million dollars
We wouldn't have to eat Kraft Dinner
But we would eat Kraft Dinner
Of course we would, we?d just eat more
And buy really expensive ketchups with it
That?s right, all the fanciest ke... dijon ketchups!
Mmmmmm, Mmmm-Hmmm
If I had a million dollars
(If I had a million dollars)
Well, I'd buy you a green dress
(But not a real green dress, that's cruel)
And if I had a million dollars
(If I had a million dollars)
Well, I'd buy you some art
(A Picasso or a Garfunkel)
If I had a million dollars
(If I had a million dollars)
Well, I'd buy you a monkey
(Haven't you always wanted a monkey)
If I had a million dollars
I?d buy your love
If I had a million dollars, If I had a million dollars
If I had a million dollars, If I had a million dollars
If I had a million dollars
I'd be rich
Quote from: R-inge on January 09, 2010, 01:46:15 PM
Only 6k for vacations? That sees like more than enough to me. :lol:
Minpin is a rich kid. :lol:
And as I said, that's only part of my vacation costs. Meals and things like sporting activities aren't part of that amount.
I can have a fun vacation for under $2k. :huh:
Quote from: dazzleman on January 09, 2010, 05:39:30 AM
You have to take what I say with a grain of salt.
Trust me, I always do. The whole shaker, sometimes.
:lol:
Quote from: hotrodalex on January 09, 2010, 09:45:39 PM
I can have a fun vacation for under $2k. :huh:
My vacations for the last few years have cost an average of $300. :lol:
But now that I have money, I'll spend some of it. I want to go to Tokyo.
Quote from: Raza link=topic=20947.msg1240036#msg1240036 date=1263102068
My vacations for the last few years have cost an average of $300. :lol:
But now that I have money, I'll spend some of it. I want to go to Tokyo.
Or, you can rent an apartment.
Quote from: Raza on January 09, 2010, 10:41:08 PM
But now that I have money, I'll spend some of it. I want to go to Tokyo.
wut
Quote from: Payman on January 10, 2010, 02:07:29 AM
Or, you can rent an apartment.
It's on the list of things to do.
Quote from: HotRodPilot on January 10, 2010, 03:11:35 AM
wut
Ever since I saw
Lost in Translation, I've wanted to vacation there.
Quote from: dazzleman on January 09, 2010, 11:54:13 AM
I wake up at 6 am. I get home at 8 pm if I'm lucky.
How long is your commute? Or, I guess what I'm really asking is how much time do you actually spend at work on the average day?
Quote from: Raza on January 10, 2010, 03:13:15 AM
Ever since I saw the touge battles on Best Motoring International's DVDs, I've wanted to vacation there.
Raza we're all family here. No need to lie.
I am perfectly fine just laying on a beach at an all inclusive resort for a week or two in the Caribbean. Maybe doing some hiking + taking a scooter to go sightseeing or w/e. I think packages like that are available for less than $1000 with the flight included.
Quote from: BimmerM3 on January 10, 2010, 07:29:49 AM
How long is your commute? Or, I guess what I'm really asking is how much time do you actually spend at work on the average day?
I spend at least 10 hours a day at work.
Quote from: R-inge on January 09, 2010, 01:46:15 PM
Only 6k for vacations? That sees like more than enough to me. :lol:
My family didn't even spend $600 on vacations when I was growing up. :lol:
Quote from: 280Z Turbo on January 10, 2010, 08:26:25 AM
My family didn't even spend $600 on vacations when I was growing up. :lol:
Neither did mine, most of the time. The best trips were usually reserved for when my parents went away by themselves with friends, without us kids.
Quote from: sportyaccordy on January 10, 2010, 07:49:36 AM
Raza we're all family here. No need to lie.
I am perfectly fine just laying on a beach at an all inclusive resort for a week or two in the Caribbean. Maybe doing some hiking + taking a scooter to go sightseeing or w/e. I think packages like that are available for less than $1000 with the flight included.
I was thinking about something like that too. A bunch of people from work are going to Miami again this year, but I don't think I'll be allowed to go. So I'm actually thinking Vegas.
Quote from: dazzleman on January 09, 2010, 11:54:13 AM
I wake up at 6 am. I get home at 8 pm if I'm lucky.
My dad's been keeping a similar schedule since he switched jobs (to get up to speed since he hasn't been in such a hands-on operations role in a long time), except 6:00AM would actually be a little late.
Quote from: TBR on January 10, 2010, 03:39:08 PM
My dad's been keeping a similar schedule since he switched jobs (to get up to speed since he hasn't been in such a hands-on operations role in a long time), except 6:00AM would actually be a little late.
My schedule is about the same. Up at 5:30, out the door at 6:40-6:45, home around 7:30 at the earliest.
I've bounced out early for the past couple of weeks, due to the holidays. I'll be back on a full schedule this week though.
And working Sunday. Woo!
Quote from: Raza on January 10, 2010, 03:41:24 PM
My schedule is about the same. Up at 5:30, out the door at 6:40-6:45, home around 7:30 at the earliest.
I've bounced out early for the past couple of weeks, due to the holidays. I'll be back on a full schedule this week though.
And working Sunday. Woo!
Yeah but are the guys that have been working there for 20 years doing the same...?
Quote from: TBR on January 10, 2010, 03:42:06 PM
Yeah but are the guys that have been working there for 20 years doing the same...?
That's a little nuts, I agree. Where I work, only portfolio managers get to leave early.