Gazpacho posted:

A charity! Multimillionaires start charities, not least so that they can unload appreciated investments that they'd rather donate than pay taxes on. Starting charities is not a middle class gig. Even contributing is ill advised for anyone who hasn't secured their income in old age. Gotta focus on the You Foundation first.

quote:

Anyway I can't comment more until I read the thread in its entirety again. Only 3 pages so that won't take long. From the first page I must admit that Mr Money Mustache really changed how people think about early retirement. The consensus was that we'd need around $12,000/mo to retire by 45. With our current income (about half that) I'm confident we could retire by 37-if we had no debt-with the right expense:savings ratio of course.

quote:

I will likely be able to land a job making about $148,000.00 because my boss who doubles that mentoring me in it. For real he printed out something that shows me a career path he's leading me on.

quote:

We make $86,000 a year in a pretty low cost of living area (equivalent to about $148,000 in SF Bay/NYC). At a 65% savings rate (which would be entirely possible for us with a paid off house ala MMM) we would be able to save $559,000 in 10 years

My Rhythmic Crotch posted:

There are some real doozies in there, I can remember reading that exact post


The boss who went out of business, naturally


Ah yes this theoretical house that we don't own, much less have paid off, will allow us to save $55k per year for ten consecutive years, all while raising a kid. Kids are free, dontcha know.

KG Paraphrased posted:

MMM SAID KIDS CAN BE CHEAP AND I CAN RETIRE IN FIVE YEARS AND HE KNOWS EVERYTHING!!!

KG months later posted:

....what do you mean I have to be frugal & disciplined???

KG 30 seconds after that posted:

OOOO LOOK SOMETHING SHINY!!!

April posted:

quote:

Bugamol:
Dammit I (really) woke up in a cold sweat multiple times last night thinking about $10,000.00 in credit card debt at 23% interest.

KG posted:

Edit Also SloMo? Alright let's take it easy on the insults I know I've been financially stupid but that's going a bit far don't you think ?

Slow Motion posted:

Thought I might pop by and say howdy.

I don't know if anyone remembers but I used to maintain a debt thread here a few years ago. I had just separated from my ex-wife and was bleeding money at a prodigious rate. At the start of the thread I was about $35,000 in debt to a combination of credit cards and a 401k loan. Over the course of a year long thread I managed to change course and was making regular monthly progress towards a debt free life.

This is an update. Hopefully a conclusion, really, to that crisis and time in my life.

In December 2015 two things happened. I got my bonus, enough to paid off the last of my credit cards and leaving only $9,000 in 401k loan. And I got fired. It was one or the other. One of my projects was way over budget and I was told I would eat the overrun from my bonus. After some heated debate they paid me the whole bonus but decided to call it a severance. Rather than pay off the credit cards I hoarded the cash and set all payments to minimum.

I went on unemployment, $650 a week, for the full six months. Having sold my car I used the unemployment to cover the $2,450 rent and my girlfriend covered food for us. Credit debt crept up slowly as I would use the cards in place of my cash hoard. I also had to spend through my HSA on a case of turf-toe and a secondary infection which kept me off my feet for a couple months. All in all I think it was a useful and sobering time which let me reflect and plan my next phase of life.

That next phase began with my accepting a position in Southern California working for an old client from my previous consulting days. Pay was decent at $110k + bonus (more loaded toward base salary than consulting had been). They had offered relocation money but I never got it in writing and they balked when I wanted to revisit the subject after signing. Moving costs built up fast, and I added extra cost by making a nice two week road trip down the coast out of the experience. In May 2016 when I accepted the position I had about $15,000 in credit debt and $9,000 in cash. In June 2016 when I started the new job I paid off what I could, leaving $7,000 in credit debt and $1,300 in cash.

The next two years in SoCal have been... Quiet. No grand vacations. No elective surgeries. Vastly less drinking. My girlfriend became my fiance. After a couple raises in my first year I take home $3,000 every two weeks. I've kept regular expenses under $4,500/mo consistently and I don't budget my bonus (a recurring recommendation from the last thread). There were some unexpected expenses here and there (mostly related to the junker car I bought when I arrived here). Finally, in April 2018, I paid the last of my debt and enjoyed a couple months of true zero debt for the first time since 2011. I've continued to hoard cash through it all (set a floor of $10,000 in checking after my first year at the new job) - a habit I attribute to the financial panic I felt when I lost my first "real" job.

In June 2018 I took on an auto loan of $12,000 for a used Hyundai Genesis (after a 9k down payment). This remains my only debt, and I have $26,000 in checking that I'm considering using to fully pay off the car. My retirement accounts are at $100k with no loans against them. The plan is to maintain this lifestyle for another year and build up another $50k in savings as a down payment on a house. The fiance makes decent money as a chemist for a giant corporation (30k/yr) and is looking to double that by moving from a contract position to full time salaried.

So there it is. Four years after I first admitted I had problem with debt I'm finally truly out of the woods. Thank you to everyone who encouraged me, yelled at me, or laughed with (at) me. If it weren't for the motivation of that thread I would have not been in a place to pull through unemployment. And I probably would have taken a construction job and lost my career focus. Seriously: Thank you guys. I hope this post provides some closure to the Slow Motion saga.

April posted:

The old thread really is the gift that keeps on giving....

quote:

Plus we could probably save around $400/mo if we get rid of everything we own and move into a motel for $400/mo. Hell even better we could live in a camping trailer my mom has behind her house for maybe $100/mo. That's sustainable.

quote:

Hell even better we could live in a camping trailer my mom has behind her house for maybe $100/mo.

April posted:

The old thread really is the gift that keeps on giving....

Ancillary Character posted:

I still use an Excel spreadsheet that someone (maybe Bugamol?) made Knyteguy in the first thread for all my budgeting.

Ancillary Character posted:

I still use an Excel spreadsheet that someone (maybe Bugamol?) made Knyteguy in the first thread for all my budgeting.

The Experiment posted:

Could someone please post it? I’d like to check it out. Thank you!

Ancillary Character posted:

Here's the download link for the original Budget Template spreadsheet I got from the first thread:

https://gofile.io/?c=T7uEzr

Let me know if there's somewhere better to upload it, I just picked a random site that doesn't require me to register.

zaurg posted:

zaurg posted:

zaurg posted:

zaurg posted:

This is actually a good idea. Thanks. zaurg will remain confined to 3 threads in all of SA (BFC thread, Running thread, and TFLC thread). If I venture out anywhere else, ban me.

KYOON GRIFFEY JR posted:

slowmo kicked your rear end, dogg:


https://forums.somethingawful.com/showthread.php?threadid=3869178&userid=0&perpage=40&pagenumber=1

zaurg posted:

Simpsons Reference posted:

zaurg posted:

This is actually a good idea. Thanks. zaurg will remain confined to 3 threads in all of SA (BFC thread, Running thread, and TFLC thread). If I venture out anywhere else, ban me.

Bobbie Wickham posted:

OP's never coming back.

Olive Branch posted:

Zaurg running a smokescreen for KG to rev up the RV and blaze a new trail with his kid, pets, and spouse cramped in the trailer. We'll never catch him.

Knyteguy posted:

Our plans are unlimited hotspot barring Verizon, and we have AT&T, T-Mobile (my phone) , and Verizon (my wife's phone and a hot spot). This was great on the road, but unnecessary now. I ~may~ be able to sell the plans, as you can't get AT&T or T-Mobile unlimited hotspot usage anymore and I'm apart of an RV internet group. I'm not counting on it, but I'll throw up a post later to see if anyone bites.

Knyteguy posted:

We have options if my mom's place doesn't work out; we're completely setup for off the grid living if needed (within commuting distance and legally) and there's also RV parks and whatnot, and we have a free bedroom at my grandma's if needed as well.

Raldikuk posted:

Dude needs to spend $400/mo across 3 different carriers to ensure that he has access to the internet at any time, any location.... but also believes that he is "completely setup for off the grid living". Yeah, sure. The guy who can't even spend a day with lackluster coverage is totally ready for off the grid living at the drop of a hat. lmfao

Bobbie Wickham posted:

OP's never coming back.

Knyteguy posted:

I've paid off all of the credit cards.

Knyteguy posted:

My wife's dad passed away so we've been pretty busy with that.

We have one truck, not two. I'm not sure where that came from.


I've paid off all of the credit cards.

Bobbie Wickham posted:

Get out, zaurg

zaurg posted:

Eat poo poo

zaurg posted:

This is actually a good idea. Thanks. zaurg will remain confined to 3 threads in all of SA (BFC thread, Running thread, and TFLC thread). If I venture out anywhere else, ban me.