That kind of thinking worked out well for me until it didn’t. I have a very different formula for the diminishing returns on increased wealth than I had at other points in my life.
Sounds kind of results oriented, imo.
I don’t want to be the guy with the normal job who dies at 68 and they find out he had $1.2M in savings that he left to the local animal shelter in his will because he never spent anything.
I also don’t want to be the 80 y/o guy taking bad cases to make ends meet.
I’ve been working out and eating right, so there’s probably many hot, rich singles in my area looking to meet guys just like me. That’s what I’m counting on.
Btw, my health insurance is $500/mo, car payment is $320, net and cable is $200, student loan is $350, phone is $30, groceries is $400, pre-covid entertainment is $250, pre-covid fitness classes $169.
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Sure, but the second sentence. What did you really miss out on by not taking that risk? Maybe not much. Your two hundred thousandth dollar isn’t worth anywhere near as much as your thousandth.
Also, I’m ridiculously not risk-averse. Back in the day people used to talk about the risks, swongs and variance in poker. They are virtually nothing compared to owning a business. Poker is the least risky/swingy thing I’ve done for all but about 5 out of the last 30 years (times I’ve had jobs working for someone else).
I once bought 3 apartment buildings (2 of them I owned 60%) with no money down. How’s that for leverage?
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Depending on the details, it sounds like it could have been a good spot to leverage yourself. It doesn’t really square with a “Debt is the mind-killer” mentality, though. That was my point.
It wasn’t great, but wasn’t horrible (financially). But it was a long time ago, before my mind was killed.
Well maybe my mind hasn’t been killed yet. I’ve got tons of debt that I don’t really need to have. I could pay it off, but to do so would be -EV. So, I don’t.
i feel bad that i don’t even know what our monthly expenses are, but just rent+preschool+regular bills is about 5k.
$2500/mo scented candles
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Too much, especially this year.
5k sq ft house in safe North Atlanta suburb.
Wife, me, 2 kids + mother-in-law, father-in-law and father-in-law’s wife and brother-in-law. My brother when college is not open for covid.
Mortgage + 2 cars (Mazdas) is $4,000
Cell phones for the 4 of us is $175-200
Car insurance is 225 for the 2 cars
I worked from home so gas isn’t much
Power is 6-700 in summer and 2-300 the rest of the year
Hoa is $800/year and includes trash pickup
Internet is $80/month for 1Gb fiber
Tv is $60/month
Then another $30/month for Netflix/Disney+/Hulu/etc
I’m not sure what we’ll do about all of this if I don’t find work soon. Savings and credit cards only go so far unless I dip into 401k which I don’t want to do.
Credit score about 750 now but could go south fast in a few months.
Really stressed about it (thus why still up at 5am) and will be making a plan to get to at least 1 year expenses saved as fast as possible once employed in case of future events like this. You get complacent after 19 years of never having more than a weekend off between jobs.
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Yeah
Brother in law works and pays $300/month rent now, but that’s it
Tho I’m not exactly a breadwinner right now
Father in law and his wife (first and fourth wife; married mother in law and then another in between then back together with first later in life) live in the basement. He’s here about 6 months/year and she’s here about 3 months and then they live in Idaho near her family the rest of the time.
Mother in law lives on main floor and has been on disability and now SS for many decades. They got divorced 40 years ago and get along fine now.
All 3 are deeply religious and the basement duo are FoxNews trumpets so we don’t talk much anymore. Mother-in-law will likely vote Trump as she falls for the televangelists and will do what Joel Osteen and Joyce Meyers tell her God would want her to do.
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Father in law and his wife pay for all of their own stuff and are here part-time. They don’t pay rent for using the basement but they have their own fridges and cook down there, buy their own toiletries and supplies, etc. They are late 70s on SS.
Mother in law has been disabled for many decades. She pays for her food and stuff out of SS.
I don’t care about being THE MAN, it just didn’t matter much before when I was working.
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Mint Mobile high-five! And for home (and road trip) internet I pay $33/mo with a Sprint hotspot from Calyx.
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Humblebrag thread. Look how expensive things are (but I can afford them).
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My finances are all kinds of weird for various reasons. One thing I can not recommend enough is to a start using a budgeting program of some sort. I’ve been using YNAB for 4+ years and it makes understanding what my money needs to do so much easier. I think everybody is hesitant to try something like that, but I genuinely encourage you to give it a shot for a month or two. You’ll quickly realize how helpful it is.
Currently my big monthly expenses are
Rent: $0 (will change in a few months, hopefully can keep under $1k)
Student debt: $1,200 (fuck me, right?)
Healthcare: $600+ (currently paying COBRA rate)
Medical debt: varies, but always > $0
Pre-Covid I was spending much more. $200/m on gas. $125/m on dining out and entertainment. Etc. Been living as frugally as I can since Feb as I haven’t worked since Jan 31st.
My financial situation would be so incredibly different if I didn’t have student loan debt and a chronic disease. I’d be in such a better and more stable place, mentally and financially. Every time I think of how much debt I’ve paid off and how much I still owe it makes me sick.
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I meant co-op, which is a little different than condos. Co-op buildings are fairly common in New York and a few other cities, but they aren’t seen much in other parts of the country. In a co-op, you don’t actually own your apartment. Instead, you own shares in a corporation that owns the building, and those shares give you the right to live in your apartment. Co-ops are typically less expensive than condos, but they are also more restrictive. They often require higher down payments, and coop boards can be picky about who gets to live in the building. More about co-ops here: Co-Op Apartments in New York City: A Buyer's Guide | StreetEasy
Annual would be nice
Wife and I rent a 2 bedroom apartment in downtown Indianapolis for $2200. Have no urge to move into a house at this point. The view and not dealing with bullshit are incredibly valuable.
Utilities - $120
My car is paid off - 09 Honda that I have driven 30k miles in 6 years with.
Her car - $320
Car insurance - $180
My health insurance - $80 a month
Our Student loans - $450
Groceries - $450
Entertainment - Way less than it used to be. Maybe $300 right now. A lot of what we used to spend was on trips and vacations.
Just paid off all of my credit card debt that I stupidly accumulated when I made less money than I do now. Happy it’s gone.
Wife loves clothes too much so she probably spends $150 a month on that.
Could definitely be saving more money but I feel like we are at a good balance of enjoying life while also saving responsibly for retirement.
Region: Hannover Area, Kingdom of Hannover
Location: Upscale Castle w/a decent mix of decorative and crop plants (mainly fruit trees) in the garden. Highly ridable w/great access to hunting grounds, rural roads, serf villages, etc.
Living Situation: Living alone in a medium sized 15 bedroom castle. (mistress is moving in next week however)
Rent: Owning obv.; usual costs for a staff of 10 including board & lodging
Food/Household Items: Provided by serfs.
Health Insurance: Cupbearer is also my taster; the housekeeper keeps a fresh batch of leeches ready all year round.
Entertainment: Garden Hermit gets 1/8 Thaler/month and free access to garden crops, fencing facilities are on premises, orgy once a month
Total: about 30 Thaler
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Damn - are you a quant or something?