[Coronita]

[quote=deadzone][quote=Coronita]For me, I’m not fully disengaging from the markets. I’m just moving money around to buy hard assets because I like things that are tangible. I like property. I don’t really get stocks,bonds, indexes, and certainly can’t live in them. Also, I don’t care as much as if the value of the hard assets move up or down. What I care about is can each year, these assets generate a consistent return so that if I decide to quit my job or get fired or both, I continue to still have a steady stream.

Once I have a steady stream of income the replaces my engineering “salary”, I don’t care whether those assets go up and down as long as my annual income is roughly the same. I’m done at that point. Getting close. The thing I’m not convinced about high quality stocks that pay a dividend. is they are high quality…until they aren’t….Those banking on dividends from ATT were recently given a dose of reality ala dividend cut. so not exactly predictable.[/quote]

You are definitely on the right track. And avoiding stocks is great for your mental health, stock market is nothing but a casino. I am curious though, when it comes to “retiring” from your engineering job, why do you feel you need to have enough rental income to fully replace your salary? From the way you talk you could live pretty well right now without the job, and if you later realized you needed/wanted more income, you could always go back to work.[/quote]

1. I want to generate about $150k/year from cash flow and $50k/year in passive income from dividends, as my fvckyou money. Not quite there yet or combinations there of.

2. Any surplus upfront is extra cushion for bad times that could happen over the next 30+years for which things underperform…Hence, if I can continue working and drawing a nice compensation package without being killed and overworked to death is extra financial capacity to frontload more of that fvck you up front with a larger fvckyou, so if somewhere along the line of that 30+years of retirement, things underperform, I don’t need to go back to work ever when I’m older. ever…

3. I like working now, even if my current company is frustrating. So I’d like to work as long as I can while I still can.

4. I haven’t figured what else I would rather be doing right now, and don’t want to stay home and get obese.

5. Medical insurance is another consideration, when you have a preexisting condition. Things *could* get incredibly expensive once you get off of a group insurance plan.

6. I’d like to do the bare minimum so I get my maximum social security benefit when I can get it. Because at least in principle, I paid for my social security taxes all along, I should be able to get the full benefit… Maybe that means taking a cushy government job or something along the lines. Don’t know.

I don’t think I will be one of those people that will have $30-50million in the bank. That’s just not my luck and ain’t going to happen based on my past near misses with large scores… I think reality is I’ll probably end up somewhere around the $8-10million by the time I’m 55-60. So that leaves a moderate lifestyle, not necessary luxurious, again given what I could possibly be spending on a pre-existing condition, assuming no/shitty insurance coverage.

1 MRI + 1 GI scope exam annually costs roughly $30k and $25k respectively without insurance, so that’s a $55k/year bill that I need to foot alone assuming nothing else…. x2 if my kid needs the same thing done….That’s with after tax dollars, (well I think above a certain amount 7% AGI, medical expenses are itemized deductions).

[Coronita]

For me, I’m not fully disengaging from the markets. I’m just moving money around to buy hard assets because I like things that are tangible. I like property. I don’t really get stocks,bonds, indexes, and certainly can’t live in them. Also, I don’t care as much as if the value of the hard assets move up or down. What I care about is can each year, these assets generate a consistent return so that if I decide to quit my job or get fired or both, I continue to still have a steady stream.

Once I have a steady stream of income the replaces my engineering “salary”, I don’t care whether those assets go up and down as long as my annual income is roughly the same. I’m done at that point. Getting close. The thing I’m not convinced about high quality stocks that pay a dividend. is they are high quality…until they aren’t….Those banking on dividends from ATT were recently given a dose of reality ala dividend cut. so not exactly predictable.

[Coronita]

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[Coronita]

[quote=HLS]I could possibly work that out for you based on today’s pricing. What’s the house value ?

Approvals and appraisal waivers are generated online. Individual lenders do not decide who needs an appraisal and who doesn’t.

I’ve seen appraisal waivers at 90% of the value and I’ve seen appraisal required when 40% of the value when I expected an appraisal waiver.

There is no one rate that fits everyone and pricing changes every day.

The basic factors are pretty simple:
Credit score
Loan Amount
House Value
Cash Out OR Refi existing balance
Primary Residence OR Rental property
****
The basic pricing tiers
Less than 20% equity
20-24.99% Equity
25%-39.99% Equity
40%+ Equity
************************
Self employed is the same pricing as salaried but more documentation needed for self employed.

The hassles today are solar liens & HELOCS but these can usually get worked out.

The more equity one has, the less credit score matters (to a point)

VA rates are amazing, approaching 2.25% for 30 year.
Effective last week, it is now MUCH easier for National Guardsman to qualify for VA loans[/quote]

Based on current recent sales, maybe around $1.7m conservatively? its one of them lower end slum shitboxes in 92130.

W2 verifyable income. Investment and rental income need not be considered. no solar liens etc. excellent credit. my previous lender didnt give me a hard time, except i had to state a purpose for the cash out refinance. i thought it was none of their business and was tempted to say i plan on using the proceeds to buy illicit drugs, but decided to just say the standard answer..I plan on using the proceeds for home improvements, to turn my house into a filming studio for a porn business, complete with stripper poles…

The last lender gave me choice…I could use their estimated appraised value of $950k or if I insisted on it being worth more, I would have to pay for the appraisal..I did the former so I wouldnt have to pay for the appraisal, since it didnt seem to make sense to pay for an appraisal if i was only borrowing $540k and i dont care what they need to do to approve of the loan if they could get me the end result cheaper. Ive had the loan for 1 month. if you could knock off 0.25% or more, that would be totally awesome since i plan on dragging this loan out as long as i can and wont ever sell.. Too cheap money for future investments.

I’ll PM you.

[Coronita]

Hi HLS, I just did a 30 year cash out refinance $540k at 3% I noticed that some places are advertising lower rates now. Is it possible now to get a 2.75% without any out of pocket costs? The last lender didn’t require a appraisal, because they lowballed the estimate of how much the house was worth, the loan was around 50%.

[Coronita]

YTD @ 9.13%… I’m about 60% cash, less than 10% tech. just moving in and out when the market swings a bit. I wish I didn’t sell my AMC at $15. I’ll never win quick money.

[Coronita]

[quote=sdrealtor][quote=Coronita][quote=scaredyclassic]i buy almost exclusively used clothing for environemntal reasons. growing cotton is a fucking nightmare. we have enough rags on earth to cover everyeone for the next century. Every suit i own now was bought used

Veganism is growing among youth for similar reason, also because farming practices are disgusting and immoral.

What part of this is not comprehensible? That they give a shit about the effects of their actions?[/quote]

i didnt say it wasnt admirable i just wasnt aware of how aware this generation is. i think its a good thing… i havent bought any new clothes in probably 8 years. im going though all my college tshirts and shorts right now since i can fit into them and since we are all working from home…i forget sometimes and go into grocery stores, and theres holes in some of them which embarasses my kid because i look like a hobo. but at the same time, this generation seems to be into crypto, which is a fucking environmental issue too with all the computing resources dedicated to processing virtual currency.[/quote]

Not you too? Thats gonna cost me. Crypto baby!

Oh and I live in 10 to 20 year t shirts. Some older[/quote]

crypto sucks, crypto sucks, crypto sucks… There, you have 3 more orders to place on Tuesday.

wine sucks. wine sucks. wine sucks..

[Coronita]

[quote=scaredyclassic]i buy almost exclusively used clothing for environemntal reasons. growing cotton is a fucking nightmare. we have enough rags on earth to cover everyeone for the next century. Every suit i own now was bought used

Veganism is growing among youth for similar reason, also because farming practices are disgusting and immoral.

What part of this is not comprehensible? That they give a shit about the effects of their actions?[/quote]

i didnt say it wasnt admirable i just wasnt aware of how aware this generation is. i think its a good thing… i havent bought any new clothes in probably 8 years. im going though all my college tshirts and shorts right now since i can fit into them and since we are all working from home…i forget sometimes and go into grocery stores, and theres holes in some of them which embarasses my kid because i look like a hobo. but at the same time, this generation seems to be into crypto, which is a fucking environmental issue too with all the computing resources dedicated to processing virtual currency.

[Coronita]

[quote=scaredyclassic][quote=Coronita][quote=scaredyclassic][quote=flyer]Youngest son loved UCSD. He felt he found exactly what he was looking for close to home. Other kids attended elsewhere–daughter, Harvard, eldest son, USC.

You younger parents out there will find, as my wife and I have found, that watching your kids reach for and achieve their dreams is more fulfilling than most anything else you will experience in life, and that all of the work you and they put in is definitely worth it.[/quote]

The truth is, if you can’t pay cash for tuition comfortably, and you or your kid go into debt for a name school, you’re a dumbass. Obviously tuition is pocket change for flyer. But I wouldn’t even let my kids apply to an ivy for fear they’d get in.[/quote]

Interesting. I’m in an interesting predicament… For the longest time, I thought that it was important for my kid to get into the “best” college they could possibly get into and because of that I had financially planned for the worst case scenario: admission to one of these pedigree Ivy League schools, no financial aid… And so I’ve set aside 4 years of undergrad + 2 years of grad school tuition+room and board for that purpose in a 529k college savings plan and am pretty much ready 3 years early.

But here’s the wrinkle…I’ve talked to my kid about this, and despite me saying repeatedly to “aim for the stars”, you know what response I got?

I am aiming for the stars, “I don’t want to participate in a Donald Trump-like white privilege game, where the “best” is a name that can be easily bought by white privileged family for incompetent kids that can’t make it by themselves….”

I was shocked, and I was like “you can’t think that way”… And she was like, but it’s true…Look how dumb Donald Trump is and dumb George Bush is, and they got into those Ivy League schools. And look at all the hoops that Asian kids have to jump through. Why would you want to spend money to participate in this White Privilege game? We’re not white, we’re Asian, we should play our own games.

I swear I had nothing to do with this. You know how asian parents are. Always wanting their kids to get into the pedigree colleges…I mean, honestly, I don’t really care where my kid ends up going since based on my experience, having an Ivy League degree in engineering doesn’t really matter versus any state school… In fact I don’t see many people throughout the 20+years of my career with such a pedigree degree and the ones that had one, a lot of them suck in what they do. With the exception of Cornell Engineering, Ivy League schools aren’t known for their engineering programs and state school with their large corporate endowments prepare their students way better than Ivy Leagues. So with the exception of maybe MIT, CalTech, Harvey Mudd, and Stanford Engineering (who has some really bright kids), you’re just spending money on a brand that frankly in tech doesn’t make that much of a difference.

Also, to my kids point, Ivy Leagues do disproportionately punish asian american kids with those admissions quotas. So my kid did make me think about it and say, do I really want to support a system that supports this. I mean I would boycott a business that does this, why would I want to support a school that does this.

So I think the conclusion is, I’m going to ask my kid to apply to an ivy league school(s) anyway…And if my kid gets in with a full ride/scholarship , great…But otherwise, I’m not going to spend a dime more than what I would spend on a good public school to support this system.[/quote]

VIVA LA REVOLUCION![/quote]

I think you’re right though. I’d much rather see my kid achieve what they achieve through their own merit through their struggles and overcoming their struggles, rather than easily buy my kid’s way into something.

It’s like the same concept. I don’t really have a desire to buy a lottery ticket to win a lottery so I can be “rich”… For me it’s not the money, it’s the journey getting and building it. Granted it doesn’t have to be built completely with my career tools like engineering, or stock options grants at a company… It could be investing and doing a side hustle, but at least it’s still something I did…

I don’t understand this generation that well and am trying to understand them. There’s this other thing going on about being anti- Fast Fashion. I don’t get it that well, but I think what it means it’s a going trend about some younger people be anti-corporations that exploit overseas paying them substandard wages and living conditions to make clothes that we consume here….

So it’s almost like a cult like trend to prefer to buy second hand, reused cloths from places like Poshmark… Or to buy hand made clothes from individuals like places like Etsy… I guess it’s this generation’s way of being anti-Walmart??? So it’s weird. My kid makes her own dress and clothes…which probably costs more than if she bought them… She wanted an embrodiery/sewing machine, so I said sure, why not…

[Coronita]

[quote=scaredyclassic][quote=flyer]Youngest son loved UCSD. He felt he found exactly what he was looking for close to home. Other kids attended elsewhere–daughter, Harvard, eldest son, USC.

You younger parents out there will find, as my wife and I have found, that watching your kids reach for and achieve their dreams is more fulfilling than most anything else you will experience in life, and that all of the work you and they put in is definitely worth it.[/quote]

The truth is, if you can’t pay cash for tuition comfortably, and you or your kid go into debt for a name school, you’re a dumbass. Obviously tuition is pocket change for flyer. But I wouldn’t even let my kids apply to an ivy for fear they’d get in.[/quote]

Interesting. I’m in an interesting predicament… For the longest time, I thought that it was important for my kid to get into the “best” college they could possibly get into and because of that I had financially planned for the worst case scenario: admission to one of these pedigree Ivy League schools, no financial aid… And so I’ve set aside 4 years of undergrad + 2 years of grad school tuition+room and board for that purpose in a 529k college savings plan and am pretty much ready 3 years early.

But here’s the wrinkle…I’ve talked to my kid about this, and despite me saying repeatedly to “aim for the stars”, you know what response I got?

I am aiming for the stars, “I don’t want to participate in a Donald Trump-like white privilege game, where the “best” is a name that can be easily bought by white privileged family for incompetent kids that can’t make it by themselves….”

I was shocked, and I was like “you can’t think that way”… And she was like, but it’s true…Look how dumb Donald Trump is and dumb George Bush is, and they got into those Ivy League schools. And look at all the hoops that Asian kids have to jump through. Why would you want to spend money to participate in this White Privilege game? We’re not white, we’re Asian, we should play our own games.

I swear I had nothing to do with this. You know how asian parents are. Always wanting their kids to get into the pedigree colleges…I mean, honestly, I don’t really care where my kid ends up going since based on my experience, having an Ivy League degree in engineering doesn’t really matter versus any state school… In fact I don’t see many people throughout the 20+years of my career with such a pedigree degree and the ones that had one, a lot of them suck in what they do. With the exception of Cornell Engineering, Ivy League schools aren’t known for their engineering programs and state school with their large corporate endowments prepare their students way better than Ivy Leagues. So with the exception of maybe MIT, CalTech, Harvey Mudd, and Stanford Engineering (who has some really bright kids), you’re just spending money on a brand that frankly in tech doesn’t make that much of a difference.

Also, to my kids point, Ivy Leagues do disproportionately punish asian american kids with those admissions quotas. So my kid did make me think about it and say, do I really want to support a system that supports this. I mean I would boycott a business that does this, why would I want to support a school that does this.

So I think the conclusion is, I’m going to ask my kid to apply to an ivy league school(s) anyway…And if my kid gets in with a full ride/scholarship , great…But otherwise, I’m not going to spend a dime more than what I would spend on a good public school to support this system.

[Coronita]

[quote=Coronita][quote=flyer]Youngest son loved UCSD. He felt he found exactly what he was looking for close to home. Other kids attended elsewhere–daughter, Harvard, eldest son, USC.

You younger parents out there will find, as my wife and I have found, that watching your kids reach for and achieve their dreams is more fulfilling than most anything else you will experience in life, and that all of the work you and they put in is definitely worth it.[/quote]

But she didnt appear to make the triton top 10 famous people. Evelyn Lin still the best and on top, no pun intended …..and she didnt need to spend her dads time and money to go to harvard to have her own successful business. And now, shes retired , married with one kid… early 30ies….

What an incredible entrepreneur that did it all by herself without the help of her parent, single father dad that was poor! so much respect for her!

I might have support one of her royalty businesses pay per view….for the hard work she put into it. Her brand is so well known, its international…[/quote]

Come to think about it… There definitely was an equal opportunity to be famous. When I was in college, I remember Playboy visited our campus to do a special issue… “The Women of the Ivy Leagues”….

There was a huge line in the off campus bookstore wrapped around the building of people interviewing…And they were hitting each of the Ivy League campuses… I think Harvard was the next one on the list, according to my classmate that went to the interview. Really nice and pretty blond from connecticut. Her dad was supposedly a big real estate developer. I asked her dad knew what she was doing, and she said “hell no”…lol

[Coronita]

[quote=flyer]Youngest son loved UCSD. He felt he found exactly what he was looking for close to home. Other kids attended elsewhere–daughter, Harvard, eldest son, USC.

You younger parents out there will find, as my wife and I have found, that watching your kids reach for and achieve their dreams is more fulfilling than most anything else you will experience in life, and that all of the work you and they put in is definitely worth it.[/quote]

But she didnt appear to make the triton top 10 famous people. Evelyn Lin still the best and on top, no pun intended …..and she didnt need to spend her dads time and money to go to harvard to have her own successful business. And now, shes retired , married with one kid… early 30ies….

What an incredible entrepreneur that did it all by herself without the help of her parent, single father dad that was poor! so much respect for her!

I might have support one of her royalty businesses pay per view….for the hard work she put into it. Her brand is so well known, its international…

[Coronita]

upload them to an free image hosting site like imgbb, copy link into html image tag post here as < img src="xxxx" /> tag

[Coronita]

[quote=sdrealtor]Actually she’s #1 on the list!

https://ucsdguardian.org/2017/02/16/six-famous-uc-san-diego-alumni/%5B/quote%5D

Alright, then they fixed it! Cool

[Coronita]

[quote=scaredyclassic][quote=Coronita][quote=sdrealtor]

Heading back home next week for my annual Pine Valley /Merion trip. I’m sure you’ve played them many times. Which do you prefer?[/quote]

You think Evelyn Lin might be a member? If so, damn,maybe I need to start this golf thing[/quote]

why not just up and coming native thai strippers?[/quote]

Because I want to support the local UCSD alumni network. Did you know that UCSD publishes a list of famous Triton alumni’s….You know people like my former colleague and boss, Nick Woodman, from GoPro is on that list…

But I was really disappointed that conveniently Evelyn Lin is not on that Triton famous people list. That is extremely sexist and biased. It’s an honest living, not something I would want to do and what I would want my kids to do, but it’s still an honest living. And she probably made more money in her career than most of the Triton alumni.

And let’s put it in perspective. She did what she did at as job. That’s 100x better than some people that do similar things under the false pretense of marriage for financial stability, like I see a lot in 92130 where some thirty something trophy spouse is hanging onto some 50+ year old old fart. I call that pathetic……There’s certainly a lot more respect deserved for the former versus the later….One worked for her money, the other married into it….Just saying…I deal with this sometimes. One of my friend had this bbq. Spouse of surgeon and doctor who had this friend, who’s husband was this almost 60year old surgeon and a trophy wife I think was in her late 30ies. She was annoying as fvck…Always talking about designer brands and shit, never worked a day in her life. I think they are going through a divorce. Apparently she’s into threesomes or something like that because she apparently asked my friend and his wife right in front of her husband…Ewe… Gross…Go figure..So there you go.

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