[scaredyclassic]

[quote=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).[/quote]

What about medical tourism in Asia. Looks like gi work is under 1k.

[scaredyclassic]

The fed buys 750 billion in corporate debt to stop unruly market movement. How can one sell, or purport to time a sale, when the us gov will see your frothy market, and raise you two frothy markets?

[scaredyclassic]

As they say, never predict the end of the world. If you’re wrong you look crazy, if you’re right, no one’s around to congratulate u .

Not sure how to rephrase that for market top calls

[scaredyclassic]

[quote=flyer]Don’t be so hard on yourself. You have a great family, a great career and a great life. Just enjoy it.[/quote]

“The Full Catastrophe” first occurs in the 1964 film Zorba the Greek. It is spoken by the character Zorba (played by Anthony Quinn), a colorful Greek with a zest for life. Zorba has insinuated himself into the employ of Basil (Alan Bates), a bookish Englishman who has inherited a mine in Crete. In a boat on their way to the island, Basil asks Zorba if he is married. Zorba laments, in accented English, “Am I not a man? And is not a man stupid? I’m a man, so I’m married. Wife, children, house–everything. The full catastrophe.”

I did recently buy this t shirt new. Felt it was perfect for hackysack.

DROP ACID TEE

[scaredyclassic]

Ah yes. Young people suck as much as us.

Props for the hobo look

[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?

[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!

[scaredyclassic]

why is no one selling real estate in heaven?

Maybe I should get into this huge opportunity on the ground floor.

Televangelist Jim Bakker Is Now Selling Real Estate In Heaven!

problem is once people buy they tend to really stay. hard to get churn.

[scaredyclassic]

My little one got rejected by SDSU, accepted UCSB. I was crushed. Big money difference for upper middle class doofuses like me.

At least the other 2 avoided the UC tuition.

Such fucking BULLSHIT that UC tuition is painful for a dude like me. It’s enough to make a guy Republican (if the Republicans weren’t such a bunch of morons). however, if the dems forgive student loans to prop up a corrupt system, after i scraped to pay cash, well then, all bets are off. I’d vote for trump.

I really should stop bitching. I think we’re in the top 5-10 percent or so in the usa. Still feels like a complete life fuckup. i mean, top 10% against all comers? including homeless guys, farmhands, fast food workers… Jesus. that’s ridiculous. I’m really in the bottom 10% for my peers, which is really what matters, psychologically, right?

is it only in america where a guy can live in a million plus dollar mansion and have some money and still feel like a total and utter failure? it could all fall apart so easily, is the thing, when you’re not actually rich. the only thing a bit of success buys you is a little buffer against destitution. and some status. which apparently is very important for health.

the research is pretty interesting on this.

https://en.wikipedia.org/wiki/Whitehall_Study

it’s called the Whitehall effect.

higher status males in the uk outlived their similarly situated low status peers, after controlling for variables. status and being a winner literally makes you live longer. probably flyer will live to 135. and then–not many people know this–but when you get to heaven, it’s not like all one neighborhood. there’s nicer parts and totally shitty spots and the losers on earth are still the losers in Heaven, nothing changes, and if you think life on earth isn’t fair, and heaven will be “fairer” well, who do you think set up the rules, Bozo?

How bad is the crap real estate in heaven? Like, locations so bad, you can technically call it “heaven”, but you’re basically bordering the best neighborhood in hell, and all your friends will know you’re a loser when you give them the coordinates.

. flyer will be in the best fucking location, real estate heaven in heaven, absolutely beautiful southern exposure to the Lord, near decently famously angels, etc.

I’ll be in some shitty shack in bumfuck heaven, near a bunch of cutrate section 666 housing, and the lowest grade dirtbag angels ever who basically sing off key and hassle you for drinking money. you can just barely feel the radiating presence of the Lord, barely. surrounded by turd angels the Lord never invites to any fucking gathering.

it just sucks so bad you might as well go to Hell.

[scaredyclassic]

[quote=sdrealtor][quote=flyer]No, thanks. Just posting wrt our kids University experience as several others have.[/quote]

Ummmm……NOOOO! We were posting specifically about UCSD

And pornstars[/quote]

I think SDSU may be the tougher school to get into this year. They’re neck and neck admissions rate wise. SDSU is cheaper though, so the smarter kids go there.

Maybe I’d prefer golf if I could afford it. But no, all I have is this shitty hackysack.

[scaredyclassic]

From my mom’s point of view, I think not sending kids to ivy school with cash is a sign of failure. Kind of is, really. For my class expectations

[scaredyclassic]

It is difficult in our status oriented society to not compare outcomes.

When in that mode, it is clear I have failed grotesquely.

It was only through extreme frugality and very lucky timing that I ended up with a nice house.

Even then there was a brush with loan defaults and bankruptcy on the path from graduate to home-loan owner.

Maybe I’ve been lying to myself. Maybe I don’t want to ride a bicycle. Maybe I’m just a fearful poor guy. I’ve tried to make a virtue out of my frugality, which might be just a positive spin on failure.

Onecan be a failure and still enjoy the general wreckage of it all.

[scaredyclassic]

[quote=flyer]Agree. Definitely not worth it on that basis.[/quote]

Things that are only worth it if someone else pays are kinda by definition not worth it.
.fuck Harvard .

On the Brite side at least my loans won’t be deducted from my social security check

[scaredyclassic]

[quote=flyer]No, thanks. Just posting wrt our kids University experience as several others have.[/quote]

The university experience today for the majority is life crushing debt assumed for foolish reasons.

Lately I’ve been feeling like a ridiculous failure, given my headstart in life. Schools guarantee nothing. I’m fairly pathetic compared to classmates. Just paying off my student loans in late 50s is kind of a sign of being a true idiotic loser.

[scaredyclassic]

Any young parent saving money for college is probably acting stupidly. Cheap schools all the way.

[Author]

Posts