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CoronitaParticipant[quote=deadzone][quote=Coronita][quote=deadzone]I don’t have time to go through your entire dissertation on this subject, but once again it looks like you are drunk and typing random keys on your computer.
Just look at yourself in the mirror, how much of your net worth (i.e. Wealth) is tied up in RE and Stocks? Almost all of it I will go out on a limb? That would explain why you are so defensive whenever anyone brings up the topic of RE or stock market crashing.[/quote]
I understand because reading comprehension can be difficult at times.
But to your question. I’m not at all defensive, you’re the one overly defensive and trying to prove how right and smart you are. Bluntly put, this recession and inflation will not nearly affect me as much as you so i understand why you are hell bent on proving how right you are
Bluntly put, it sounds like you are so far behind building your financial house from being so pessimistic the past 20+years, it totally backfired, and now you need a miracle catch up to others that have been just inching forward slowly over the past twenty years.
It’s like the story of the tortoise and the hare, in which you thought you could outsmart the tortoise by picking some select one hit wonders, and didn’t bother to run the slow, tiny incremental race over the past 20 years that others have done to move their financial pillar forward step by step, slowly.. And now, due to poor planning on your part 20 years later, you’re seeing that the tortoise has crossed the finish line, and you haven’t even left the starting gate… So now you’re hoping for a miracle earthquake that will make the tortoise roll back to the start line, even though he already finished the race…Because even though the race has already been decided, by seeing the tortoise at the starting gate from an earthquake, somehow makes you feel like you can still win the race, in theory, despite the race is already over.
Why do you think I’m defensive about things again? I don’t need a miracle to be made whole and catch up 20 years of doing not much…. Sounds like you do…
Yes, the hard truth is: sometimes trying to be an outlier and outsmart everyone else, one ends up being dead wrong and end up in a financial dead zone for a long time.[/quote]
There you go again, trying to attack me personally just because I bring up the topic of RE and stock market crash. You and SDR are pretty much clones of each other at this point. If you guys are doing so great financially, which I truly believe you are, then why does it bother you so much that Stocks and RE may crash? Wouldn’t it be nice for the younger generation to afford houses in the future? You guys are just greedy, the “Fuck you I’ve got mine” mentality is strong.[/quote]
Well, my purpose is not to primarily attack you personally. It’s merely to point out all of your inconsistencies you post here that only makes sense back to my initial claim. You post here because you have serious axe grinding issues with people who have done better than you financially for the past 20+ years, which is a lot of average Joe’s, because they weren’t the sleeping hare with investments and you are looking for validation that those were good decisions you made the past 20 years, when clearly they were not. That’s why you are so fixated on a tsunami economic event and desperately seeking validation to miraculously catch up.
Context is important here, because you badly attempt to gaslight everyone when someone disagrees with many of your posts… You accuse them of taking things defensive because they are afraid of getting financially hurt..uh no, lol we are not defensive at all because.sorry to disappoint you, we have a 20 year head start while you were sleeping
..even average joe six pack that did the basic tax advantaged IRA/401k/Roth is ahead of you by 20+years..but thanks for checking on us…I’m merely pointing out your big axe grinding bias …from falling behind financially over the past 20+ years from trying to outsmart the system, but that it blew up in face, both sitting idle and not securing a primary residence for 20+years. And also for not materially participating in the stock market for the 20+ years..
You got overly defensive when I brought that up but didn’t refute it..Is it because I’m correct why you are so defensive about it?
1. for the past 20+years of working , do you have a 401k , 403,traditional IRA and/or Roth IRA you make regular contributions to in a tax advantaged way?
2. if you don’t make regular contributions to one of the above in (1), have you even bothered to open a 401k, 403b, traditional IRA, or Roth IRA at any point during the past 20+ years of you working?
If your answer is no (1) and (2) that’s certainly your personal choice. BUT certainly glad it wasn’t mine.
CoronitaParticipant.
CoronitaParticipant[quote=sdrealtor]The younger generation can afford houses lots of places. But there have always been places that were too expensive for most to and this place is joining that list for many including those who passed up on the opportunity of a lifetime.
The answer is it doesnt bother us, we just understand that it would hurt many good hardworking people. You are just bitter, the “Fuck you I didnt get mine” mentality is strong.[/quote]
This isn’t just a simple fuck up. As said in The Lion King. He fucked up….royally.
I mean, the fuck up isn’t missing the opportunity of a lifetime in real estate.
Sounds like a pretty big fuck up not even materially participating in any sort of tax advantaged retirement account too…for 20+ years…This isn’t just a once in a lifetime opportunity miss fuck up. This a annual subscription-based fuck up. which imho is way worse…because it’s not like.ypi can easily catch up 20+years of retirement saving and compounding in a tax advantaged way easily
CoronitaParticipant[quote=an][quote=XBoxBoy][quote=deadzone]Covid is over now for all intents and purposes. Amazon announced return to the office (3 days a week) and no longer requiring vaccine.
[/quote]Funny how things change with time. The above quote is from the very first post of this thread on Feb. 23rd. But today, Covid is more active than then, and just the other day the head of Amazon’s recruiting replied to Elon Musk’s demand that workers return to the office with this:
“If the Emperor of Mars doesn’t want you, I’ll be happy to bring you over to #AWS. If you don’t like to be micromanaged by the Elon Musk’s of the world, come to #AWSIdentity!”[/quote]
https://www.msn.com/en-us/news/technology/recruiters-at-major-companies-like-amazon-are-going-after-tesla-employees-angered-by-elon-musk-s-return-to-office-demand-if-the-emperor-of-mars-doesn-t-want-you-i-ll-be-happy-to-bring-you-over/ar-AAY2ynH?ocid=uxbndlbingAnd then there’s more.
https://www.businessinsider.com/musks-back-to-the-office-demand-like-something-1950s-2022-6?inline-endstory-related-recommendations=Would be interesting to see massive poaching from companies like tesla.[/quote]
Actually, based on my network of colleagues I see Amazon losing quite a few good people that went there from Intuit…Guess where they are now? Walmart.com… looks like Walmart.com.is poaching from Amazon here in SD.
CoronitaParticipant[quote=an][quote=deadzone]I don’t have time to go through your entire dissertation on this subject, but once again it looks like you are drunk and typing random keys on your computer.
Just look at yourself in the mirror, how much of your net worth (i.e. Wealth) is tied up in RE and Stocks? Almost all of it I will go out on a limb? That would explain why you are so defensive whenever anyone brings up the topic of RE or stock market crashing.[/quote]
You literally described most, if not all, people who have any wealth in this country.[/quote]Like I said, dz gets defensive because he lacks any basic long term financial plan, and for the past 20+ years hasn’t moved his/her/their financial pillar significantly forward despite how smart he/she/they claims to be. These lack of financial focus aren’t problems for young people just starting out because they the next 20+ years to solve, incrementally over time.
But for dz, 20+years has past, and he/she/they know they blew it. If I were in his/her/their position, I too would be worried and get defensive if someone pointed out this glaring big hole in their financial plan that became a crater 20+years later.
I seriously doubt he/she/they has even bothered with simple basic stuff such as setting any retirement account : 401k/IRA/Roth/529 thinking any equity investment is too risky and think they know better than average people. He/she/they most likely missed out any tax advantage of said accounts (didn’t bother to understand them), probably missed out on any sort of free money 401k company match at previous and present employers ( do they even know what a 401k match is???)
It’s ironic, because even in the worst case scenario and he/she/they is right and the appreciation gains from house and stock is cut in half, having half of the appreciation gains is still way better than his/her/their do nothing 0% gain they managed to accomplish over the past 20 years.
Given his/her/their decisions made over the past 20+ years, I’m not sure why he/she/they think they are a shining example of how one should run one’s finances. It’s not that the his/he/their end result 20 years later was better than an average Joe six pack that just followed the basics over the past 20 years.
CoronitaParticipant[quote=deadzone]I don’t have time to go through your entire dissertation on this subject, but once again it looks like you are drunk and typing random keys on your computer.
Just look at yourself in the mirror, how much of your net worth (i.e. Wealth) is tied up in RE and Stocks? Almost all of it I will go out on a limb? That would explain why you are so defensive whenever anyone brings up the topic of RE or stock market crashing.[/quote]
I understand because reading comprehension can be difficult at times.
But to your question. I’m not at all defensive, you’re the one overly defensive and trying to prove how right and smart you are. Bluntly put, this recession and inflation will not nearly affect me as much as you so i understand why you are hell bent on proving how right you are
Bluntly put, it sounds like you are so far behind building your financial house from being so pessimistic the past 20+years, it totally backfired, and now you need a miracle catch up to others that have been just inching forward slowly over the past twenty years.
It’s like the story of the tortoise and the hare, in which you thought you could outsmart the tortoise by picking some select one hit wonders, and didn’t bother to run the slow, tiny incremental race over the past 20 years that others have done to move their financial pillar forward step by step, slowly.. And now, due to poor planning on your part 20 years later, you’re seeing that the tortoise has crossed the finish line, and you haven’t even left the starting gate… So now you’re hoping for a miracle earthquake that will make the tortoise roll back to the start line, even though he already finished the race…Because even though the race has already been decided, by seeing the tortoise at the starting gate from an earthquake, somehow makes you feel like you can still win the race, in theory, despite the race is already over.
Why do you think I’m defensive about things again? I don’t need a miracle to be made whole and catch up 20 years of doing not much…. Sounds like you do…
Yes, the hard truth is: sometimes trying to be an outlier and outsmart everyone else, one ends up being dead wrong and end up in a financial dead zone for a long time.
CoronitaParticipant[quote=deadzone][quote=flyer]dz, I think you might underestimate the many sources of wealth some have, other than the obvious, and who have been living the lives they want to live for many years mostly independent of market conditions.
Per this discussion, whether this, or other demographics are large enough to sustain the continued acceleration of pricing in the real estate market remains to be seen, and should be interesting to watch.[/quote]
There is no doubt the primary source of wealth in the U.S. comes from RE and Stock appreciation. If those markets take a 30 or 40% haircut, the reverse wealth effect will be staggering.[/quote]
Wrong… And I’ll give you 2 very simple examples…
1. Housing: When one owns outright one’s primary residence and all their rentals free and clear with no mortgage, one doesn’t count on the property’s appreciation to make money. One treats the rentals no different than a pension, where it generates income no different than a job.
As nice as appreciation is for me, what matters to me these days for rentals is the $10k/month positive cashflow that is my “pension” on top of the W2 salary i take home. If I could double it, that would be ideal. Appreciation is just icing on the cake. slow, steady, and consistency always wins in the long run.
2. Stock appreciation…With the exception of tech workers and other workers that get RSU stock grants (more later), I would argue the vast majority of people who own stock/mutual funds/index funds on their own, have it primarily in the IRA/401k/403b/Roth/College 529k or other retirement accounts, and less so in an after tax brokerage account, or if they have both, have more in the former than that latter. Simple reason is because of tax deferral or tax exempt status of those accounts, and the power of compounding tax deferred or tax free…. And because of this, here’s the thing. You can’t touch those retirement accounts until you are close to retirement anyway without a huge penalty. So whether a 401k/IRA goes up or down when your in your 20ies,30ies, 40ies, 50ies…doesn’t really matter beyond just a number on a piece of paper..Hence, most people are not counting on their 401k right now for their day to day living expenses because they are still not old enough to use it. Even when you can touch those retirement accounts in your mid-50ies to sixties, that’s the last bucket of money you want to touch so you can continue to let it grow tax free. So what the stock market does in the short term, really doesn’t matter for the vast number of people who has stock/fund investments in their retirement accounts. Can’t do anything until 55-65 anywayway.
NOW, as one gets closer to retirement, people are dependent on these accounts…BUT….what they should have done if they plan right is convert from higher risk stock investment to lower risk well before they needed to use it….lower return investments like bonds, cash, treasuries,etc for the very reason that IF there is a stock market correction, they are safe… I did this for my kids’s 529 college savings account. It’s seen a lot of appreciation, and my kid will hopefully need it in 2 years, so end of last year, I moved most of it out of stock investments into a target fund “graduation year xxxx” that changes the allocation to more shorter term the closer the date gets to the time my kid graduates.So right now even if the start market has corrected, it’s only seen about a 2% decline versus the -14.34% YTD of the S&P500.
So most people probably have far less after tax stock investments, with the exception of company issued RSU/stock grants. As far as stock grants…Most people who work at a job don’t get it. Tech is an exception to the rule, so tech workers typically get compensated by RSU on top of salary and cash bonus. But the inside scoop about RSU company stock compensation is that generally, one doesn’t keep most of the stock indefinitely. You sell and diversify a little at a time. That’s why you aways see CEOs, VPs, etc registered for time-based selling that automatically sells a portion of their company stock over regular intervals. It’s a way to diversify and avoid any sort of inside trading restrictions if you just arrange ahead of time for a time based scheduled selling. That’s why if you see a CEO sell a bunch of shares, it doesn’t mean he/she doesn’t have any faith in the company. He/she is simply cashing in a small percentage regularly, and collecting his/her retirement pension that way.
CoronitaParticipantFuck you money doesn’t have to be huge. It doesn’t need to be 8 digits. Have some of your largest expenses taken care of early: housing, transportation, kid college, and that solves a lot of problems.
CoronitaParticipant[quote=deadzone][quote=Coronita][quote=JPJones]Well, there it is:
Word is he walked back his full-time-in-the-office ultimatum, too, to just 2-3 days a week with first-come-first-served seating. This guy is scumbag, not a leader.[/quote]
Forcing people back to the office is going to work only
(1)for employees that want to come back to the office
and hate working at home all the time, like meOr
(2)for employees that are unemployable elsewhere and who do not have enough fuck you money yet and still need a job to pay for basic rent and living expenses.[/quote]
I think you greatly over-exaggerate how many people have “Fuck You money”. Fact is there will be industry wide layoffs this year, a lot of folks who were previously making big salaries will be on unemployment. That is not good for housing market.[/quote]
I think you grossly underestimate how many people do, possibly based on your personal experience.
Someone who’s been reasonably capable software person working for a decade or longer who reasonably managed their career well should have more than enough fuck you money if he managed his career and finances reasonably.
Those that just went to work and didn’t manage their careers and are pigeon-holed into the same type of company specific work and not easily employable elsewhere due to lapse in skill of staying too glued to one company that itself hasn’t kept up with the times and hasn’t moved into management at that company to move into the larger pay groups…AND on top of that also didn’t spend time investing beyond just counting on a paycheck…Well, that can’t be fixed….In this case, well, the employee is very limited in what he/she/they can do and sort of have to put up with whatever their current employer throws at them, including any sort of change in work policy…Because they don’t have many options.
I would argue from a team management perspective, what will end up happening is the company will lose the sharpest people that everyone else wants and offers better terms (pay, benefits, work conditions, work life balance, etc), and retain all the employees that no one else wants… which is the opposite of what you want to do in forming a highly functional team. that’s sort of what is happening in some divisons in my current company (not mine). My division retention is close to 100% for the past 3 years. We also just got another round of RSU stock grants that the board approved off-cycle, for employee retention. Good news, while the markets are lower. Because grants are based on FMV at the time of grant, not absolute share prices… So you want RSU grants when the markets are down and while you are vesting.
CoronitaParticipant[quote=JPJones]Well, there it is:
Word is he walked back his full-time-in-the-office ultimatum, too, to just 2-3 days a week with first-come-first-served seating. This guy is scumbag, not a leader.[/quote]
Forcing people back to the office is going to work only
(1)for employees that want to come back to the office
and hate working at home all the time, like meOr
(2)for employees that are unemployable elsewhere and who do not have enough fuck you money yet and still need a job to pay for basic rent and living expenses.
CoronitaParticipanthttps://www.businessinsider.com/quit-job-at-netflix-senior-engineer-boredom-six-figures-2022-5
This is exactly why for many engineers and FANG companies for years, there is no fear of a job loss.
If a software engineer was making $450k/year for several years, he/she/they is already several years if not decades ahead of those that aren’t.
This guy’s story is not unique. I can count several engineers who left Dan Diego for Netflix 6-7 years ago for similar packages. IF they were to lose their job or quit, they already have enough fuck you money , so it’s not like they are going to break a sweat.
So while dz, you might actually think layoffs and/or forcing people to return to work or firing them.would.drasrically affect some of these people…bad news… While as you might have been making 1/3 less than them and need to work another 10-15 to reach the same net worth…these folks took.a shortcut and brought in the financial house in just a few yearsz and don’t have to play by the same house rules as you do.
That’s reality, no matter how many news article you try to find to make yourself feel better that somehow a layoff or a recession would even things up between you and them.
CoronitaParticipant[quote=deadzone][quote=an][quote=XBoxBoy]And today’s news is this great quote of Elon Musk to Tesla employees:
[quote=Elon Musk]
“Anyone who wishes to do remote work must be in the office for a minimum (and I mean *minimum*) of 40 hours per week or depart Tesla. This is less than we ask of factory workers,”[/quote]We’ll see how well this flies with his employees. But what’s interesting to me is that his argument is that this is less than we ask of factory workers. I mean, we’ve all known Elon is an arrogant SOB, but to put it out there so blatently? I guess that’s why he’s a multi-billionaire and I’m not.[/quote]
Interesting, we’ll see how his people respond.[/quote]And as I’ve said throughout this thread, a lot of companies are going to be laying out the ultimatum to return to work in the very near future. Nice that Elon took the leadership role on this.[/quote]
lol. 1 company, and again selectively ignoring all the big companies that said remote is fine…
But regarding Tesla…Given how incredibly well Tesla engineers are paid, even compared to other FANG companies, the last thing I would do is complain about returning to work. Working there for some engineers 1 year is equivalent probably you working for 3 years in what you do down here. At least, that’s based on the the last Tesla engineer tenant applicant we ran for a SFH rental in Santa Clara.
CoronitaParticipant[quote=sdduuuude][quote=sdrealtor]… this place has been reborn the last few years with young families.[/quote]
Interesting to hear you say that. Around Carmel Valley, people are talking about the fact that enrollment is dropping at the local schools because this is NOT happening. People moved to the area with their kids back in the 2000’s and not leaving now that their kids are college aged or older.[/quote]
Is enrollment really dropping? If so, not sure why they are opening a new elementary school near PTMS and CCA.
CoronitaParticipantI didn’t have a problem doing a cash out refi for $550k. My mortgage rate was maybe .25% higher than others with a cash out. So it was 3% for 30 years.
If you think you’ll pay it off in like 5 or 7 years, you might as well do a 5/1 or 7/1 and just pay it off before the loan resets.
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