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I’ve got a FIRE friend and he’s weird. He’ll retire in about 5 years, not sure about his wife. No kids so that seems par for the course. Retiring is a bit of a misnomer though. He’s invested in a small ice cream shop and I imagine his retirement will involve that. Which is better than databases any day.
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Feb 13, 2020 16:42
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I retired at 21 after college and now just work 40 hours a week. I'll probably do that until I'm about 60 or so.
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Feb 13, 2020 16:53
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I'm not a FIRE guy but I certainly do see the appeal of not being dependent and tied to a 9-5 job. I probably won't be able to retire at 40 but I'm investing as much as possible anyway to have more flexibility.
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Feb 13, 2020 17:13
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Krispy Wafer posted:I’ve got a FIRE friend and he’s weird. He’ll retire in about 5 years, not sure about his wife. No kids so that seems par for the course. No faster way to work 80 hours a week for minimum wage than to own a food service business that slows down seasonally. Hopefully he enjoys it as a hobby.
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Feb 13, 2020 17:20
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Residency Evil posted:This is what I'm trying to figure out. I'm plowing money in to index funds, but various places of the internet are telling me that I should be leveraging and buying real estate to rent out as well, either month to month or for Airbnb purposes. It's tough to get an idea of what a real real estate investment return looks like, taking into account the management company/cleaning/etc. I owned a rental property for a while for non FIRE reasons. Even if you are using a property manager it's still work, though with a property manager you can definitely go weeks/months without having to do all that much. However, property managers are only going to do so much and poo poo goes wrong with a house, especially when the people living there don't own it. Most of my tenants were pretty good but I did have to evict one guy and that was a ton of work even with a manager. If you own a couple properties you can definitely live a retired lifestyle as long as you're cool with trusting managers/contractors and know that every once in a while you need to deal with poo poo. If you have, like, a fleet of properties you can make a ton of money but it'll become a job real fast.
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Feb 13, 2020 17:24
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As a NSDE guy, I really don't understand the FIRE community
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Feb 13, 2020 17:24
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Lockback posted:I owned a rental property for a while for non FIRE reasons. Even if you are using a property manager it's still work, though with a property manager you can definitely go weeks/months without having to do all that much. However, property managers are only going to do so much and poo poo goes wrong with a house, especially when the people living there don't own it. Most of my tenants were pretty good but I did have to evict one guy and that was a ton of work even with a manager. One of the nurses I work with claims he's able to manage his Airbnb Disney rentals via his phone with minimal work required, and is claiming some insane ROI. (Like, making 20k/year+ on an apartment he paid 100k for).
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Feb 13, 2020 17:27
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The property management company we used went through five or six different people who were supposed to coordinate repairs before actually following through on promises to find a permanent solution to a plumbing problem instead of just sending out a roto rooter guy every month and us having to pay for emergency cleaning services. And mold inspection/cleaning. At one point this led to the tenant withholding rent for a couple of months.
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Feb 13, 2020 17:48
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My retirement plan is to buy up mobile home parks in depressed rust/plantation-belt areas. I'll give tenants the option to either eat my rent hikes each year, or to instead pretend to be my friend and come by the office for weekly games of Ticket to Ride and keep their previous lot rent.
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Feb 13, 2020 21:08
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Moneyball posted:As a NSDE guy, I really don't understand the FIRE community Never Save, Die Early? Now that's a movement I can get behind.
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Feb 13, 2020 21:47
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I am part of the BGDC movement
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Feb 13, 2020 22:09
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No savings, die early
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Feb 13, 2020 22:12
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mobby_6kl posted:I'm not a FIRE guy but I certainly do see the appeal of not being dependent and tied to a 9-5 job. I probably won't be able to retire at 40 but I'm investing as much as possible anyway to have more flexibility. Honestly, what I think you’re saying is desirable is being relatively under leveraged and not frivolously spending your money on poo poo you don’t need.
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Feb 13, 2020 22:18
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I feel that it's too late for most of us in this thread. Which reminds me of the only good part of Batman V Superman, when Alfred says "Even you got too old to die young... though not for lack of trying."
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Feb 13, 2020 22:21
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Sundae posted:My retirement plan is to buy up mobile home parks in depressed rust/plantation-belt areas. I'll give tenants the option to either eat my rent hikes each year, or to instead pretend to be my friend and come by the office for weekly games of Ticket to Ride and keep their previous lot rent. This happened in my city. There was also a story this winter after we had a few blizzards and the snow removal company did a single pass with a plow that buried all the vehicles without actually removing any snow from the park. Considering it was a corporation that bought the park, it really seems like they want to clear the old homes and residents by making their lives hell.
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Feb 13, 2020 22:23
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AITA for not wanting my wife to "invest" our money into MLM https://www.reddit.com/r/AmItheAsshole/comments/f3eizl/aita_for_not_wanting_my_wife_to_invest_our_money/ quote:Today my wife came to me talking about how her co-workers are all telling her about a new business opportunity. I was excited until she started talking about how it is selling weight loss teas and supplements and being an "independent distributor" for a multi level marketing company. She wants us to cut back on well.... everything so she can save up $1000 to invest in it. Very close to MLM bingo.
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Feb 13, 2020 22:57
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From FIRE to FYRE, Bloomberg has tasked the same media company that brought us Fyre Festival with making him President. https://www.cnbc.com/2020/02/13/mike-bloomberg-pays-influencers-to-post-memes-for-2020-campaign.html quote:One Instagram account, run by meme aggregator Jerry Media, depicts Bloomberg sending a direct message asking it to “post a meme that lets everyone know I’m the cool candidate.” I guess we'll have to wait to see how BWM it is
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Feb 13, 2020 23:52
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DaveSauce posted:How so? This and other similar threads in BFC aren't strictly full of FIRE devotees. I would say that's the exception. Most people here are living regular lives, just being smart about spending and saving and resisting the siren call of Truck Equity. I think it's funny just because this is the Bad With Money thread and not like the Borderline Cult thread. I suppose it could just be the weird with money thread and open it to more content.
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Feb 14, 2020 00:33
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Wiped.
Sundae fucked around with this message at 05:17 on Jun 22, 2021 |
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Feb 14, 2020 00:33
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BRB, selling my soul.
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Feb 14, 2020 01:12
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StormDrain posted:Surprised to see this thread calling FIRE bros weird. Outside of the norm weird, not weird in a bad way. My coworkers and family think I’m weird because I still drive the same 2005 Corolla I’ve had forever. “You’re supposed to buy a new car”. But they’re not wrong. That’s outside the norm. I have a really good job etc. On the spectrum of FIRE though that’s nothing. I ain’t out here cooking a pot of lentils for the week.
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Feb 14, 2020 01:16
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It bothers me how much of a bad rap pots of lentils get. Properly spiced, they can be delicious and effort-efficient. If it's economical as well, all the better!
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Feb 14, 2020 01:24
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Ralith posted:It bothers me how much of a bad rap pots of lentils get. Properly spiced, they can be delicious and effort-efficient. If it's economical as well, all the better!
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Feb 14, 2020 01:29
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Ralith posted:It bothers me how much of a bad rap pots of lentils get. Properly spiced, they can be delicious and effort-efficient. If it's economical as well, all the better! Indian food is the best poo poo ever. Give me chickpeas and lentils until I die of happiness.
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Feb 14, 2020 01:42
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The only thing about FIRE I don’t like is simply the idea that you should sacrifice your best years slaving away and not take vacations and save every penny while hoping you don’t get sick at any point. I wonder how many cases there are of people miserably wallowing in drudgery to pad their dragon hoard and then one day they just loving die.
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Feb 14, 2020 01:47
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ProperGanderPusher posted:The only thing about FIRE I don’t like is simply the idea that you should sacrifice your best years Who says they are your best? I was a loving moron in my 20s. I got better in my 30s. I'm still having my best years as they come along.
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Feb 14, 2020 01:50
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Sundae posted:Indian food is the best poo poo ever. Give me chickpeas and lentils until I die of happiness. Lately I've been into doing huge pots of palak paneer. It turns out that with a baking stone you can even do half decent fresh naan! Heats your house nicely in the winter, too. You don't have to be a cultist to cook large batches of cheap delicious food.
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Feb 14, 2020 01:52
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ProperGanderPusher posted:The only thing about FIRE I don’t like is simply the idea that you should sacrifice your best years slaving away and not take vacations and save every penny while hoping you don’t get sick at any point. I plan to spend a lot of time with my kids who don't exist yet. You see one south american country you've seen em all.
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Feb 14, 2020 02:23
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Moneyball posted:From FIRE to FYRE, Bloomberg has tasked the same media company that brought us Fyre Festival with making him President. To be fair, the issue with Fyre festival wasn't the effectiveness of the marketing.
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Feb 14, 2020 02:35
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A friend on Facebook has just signed up with Mary Kay and her Facebook updates are so paint-by-numbers. I wonder how many months it will be until I start seeing increasingly desperate status updates from her begging people to buy her makeup.
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Feb 14, 2020 02:35
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Splicer posted:What percentage of FIRE guys are /not/ just landlords? half work as FIRE bloggers
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Feb 14, 2020 03:33
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Ralith posted:Lately I've been into doing huge pots of palak paneer. It turns out that with a baking stone you can even do half decent fresh naan! Heats your house nicely in the winter, too. I've made paneer dishes the past three nights. I'm using paneer I made myself using yogurt I cultured. It's kind of bad with money, because I've been buying milk from the hippie market and I had to lay in a supply of spices I don't normally have around the house, but it's good with flavor. My favorite this week was the paneer 65 I made. 
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Feb 14, 2020 03:43
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Residency Evil posted:This is what I'm trying to figure out. I'm plowing money in to index funds, but various places of the internet are telling me that I should be leveraging and buying real estate to rent out as well, either month to month or for Airbnb purposes. It's tough to get an idea of what a real real estate investment return looks like, taking into account the management company/cleaning/etc. Real estate investing and AirBnB have the added benefit over index funds that you can much more easily see the deleterious effects on society that your profits produce.
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Feb 14, 2020 03:49
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Sundae posted:Probably accurate. The few remaining mobile park homes out here in the bay area all raise rates substantially when possible (typically 5% per year in the contract as the minimum when your contract cycles), and most spots have lot rent of $1,500+ per month as it is. Yeah here in BC they had to extend the Residential Tenancy Act to include mobile home parks to put a stop to poo poo like that. With the gigantic housing crisis created by 15+ years of rich people treating housing as a line item on their investment spreadsheets, a whole lot of people are forced to live in trailers. Or vans parked on the street.
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Feb 14, 2020 03:55
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Lead out in cuffs posted:Yeah here in BC they had to extend the Residential Tenancy Act to include mobile home parks to put a stop to poo poo like that. Or down by the river.
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Feb 14, 2020 04:51
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#VanLife is a thing
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Feb 14, 2020 05:01
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SpartanIvy posted:#VanLife is a thing My short term future, probably
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Feb 14, 2020 05:12
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SpartanIvy posted:#VanLife is a thing Yup. https://goo.gl/maps/KhSd19prYE3vKULE9 I went past that a lot. I always wondered if there was someone living in that horse trailer. It's gone now, but probably just parked somewhere else.
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Feb 14, 2020 05:51
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Lead out in cuffs posted:Yup. https://www.google.com/maps/@37.5996385,-122.3848578,3a,75y,141.95h,77.79t/data=!3m6!1e1!3m4!1sF_bNbuUfufCJ5UrH7vB9xA!2e0!7i16384!8i8192 ^^^ In a side-street/alley next to a train station a few miles from me.
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Feb 14, 2020 06:01
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ProperGanderPusher posted:The only thing about FIRE I don’t like is simply the idea that you should sacrifice your best years slaving away and not take vacations and save every penny while hoping you don’t get sick at any point. Live in frugal misery for a while, so you can live in frugal misery forever! What a great life. At least Dave Ramsey preaches that the whole point of financial responsibility is so you can do fun things with your money once you’re out of debt. Lol at trading this specialised career that I went to school for and love for a job as a property manager.
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Feb 14, 2020 06:32
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