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Epitope
Nov 27, 2006

Grimey Drawer

H110Hawk posted:

It's a lot of dice rolling. Most of the time they roll 7-out but sometimes you hit a little and sometimes you hit a LOT.

Kulaks play poker, dukes play craps, tsars own casinos

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Epitope
Nov 27, 2006

Grimey Drawer

H110Hawk posted:

I find getting paper bills helps. We agree that either spouse can open and read the statements. Keeps everyone honest. If you can't "trust" your spouse to read a truthful accounting of expenditures then couples therapy is for you.

No one can know how much taco bell I eat

Epitope
Nov 27, 2006

Grimey Drawer
I think the recent labor crunch might help you out. Pretty recently my lab was struggling to find an office person, and I know several law firms which are still looking for an office assistant type person. Not glamorous or super well paid, but if you just want to be at a desk I bet there's options out there.

uh, i think i misunderstood the question

Wang Commander posted:

I make $150k/year in an individual contributor role, and have numerous offers to move into a ~$200k

Epitope fucked around with this message at 22:03 on Jan 7, 2022

Epitope
Nov 27, 2006

Grimey Drawer

Hadlock posted:

Trump rolled out some cool tax breaks for small business owners but I exceed the income limits for that thing.

If you pay anyone W2 (including yourself like if you're an s-corp) you can deduct part of that, even if you're over the income limit. There's other ones too I think, but for sure W2

Epitope
Nov 27, 2006

Grimey Drawer
Chargeback the hotel? Definitely not, they rented you the room. Or do you mean the airline ticket? I don't think that would work, you got the flight.

Epitope
Nov 27, 2006

Grimey Drawer
The arms race between fraudsters and fraud departments does create a shifting groundscape. If you're feeling skeeved, good to take the moment to evaluate.

Epitope
Nov 27, 2006

Grimey Drawer

Omerta posted:

Double posting because I have some questions. My wife and I are lawyers. She started her own firm around 1.5 years ago and netted $90k her first year, which is great for a first year law firm. She is still ramping up (including hiring people) and her net is all over the place. In the last three months, it was $31k, $1k, $49k. She’s aiming for a $325k distribution from her firm.

I am also a lawyer. I work for a large firm and my take-home is steady. I am trying to figure out the best way to save given that it’ll take at least another year or two for my wife’s firm to stabilize in terms of receivables.

What we landed on (after discussing it together, obviously) was that my wife doesn’t pay herself anything during the year and we basically settle up at the end of year and determine a distribution. This has the benefit of ensuring her firm has adequate capitalization, and I want her to have the freedom to make long-term decisions without regard to the short-term financial hit. It also, in a way, can act as a forced savings mechanism and stop us from raising our consumption with her comp. We can live plenty fine off my comp alone. We also have a SEP IRA set up for her firm and will likely look at defined contribution pensions when her distribution is a bit more ascertainable.

Is this a stupid strategy? We’re not trying to FIRE and retire ASAP, but we definitely want to have a high savings rate in tax-advantaged accounts if possible.

My wife and I have a similar setup, and have been using that strategy. S corp, so in our case two salaries, plus the distributions. Live on the salaries, treat distributions like windfalls. They can disappear at any time and not derail the train.

Epitope
Nov 27, 2006

Grimey Drawer
Gap year - take time to travel between high school and college
Year off - take a year to gently caress off and do drugs during or after college
Funemployment - possibly unplanned time between jobs
Sabbatical - you're older now so you need a more sophisticated way to say year off
Mini retirement - why put off for some vague future aged you what you could enjoy today?

Epitope
Nov 27, 2006

Grimey Drawer
Yeah, every time I do the bare minimum thing, it's a low point. Doing nothing seems like just a coping mechanism, not a solution, for me at least. Finding new goals and purpose makes work feel better. Also feeling needed or valued by colleagues. Not sure what the recipe is to get there, and maybe doing nothing helps make time to find out how to get there. But you can also just get stuck doing nothing, which sucks (well, I don't enjoy it)

Epitope
Nov 27, 2006

Grimey Drawer
Like, lining up at goodwill when the put out new stuff, and then ebaying it? My buddy did that for a bit. I think he made enough to live on for a while. Another buddy got into the idea of trading valuable collectables, but I think that just turned into a money sink

Epitope
Nov 27, 2006

Grimey Drawer
My wife and I have 1 kid 1 dog 1 car. It's great. More cars are more work. Yes sometimes there are challenges but very worth it to not have to manage and pay for 2. Feels healthier too. I've been low car my whole life, biking is way more pleasant.

I borrowed a car today, for covering for someone at work who drives for their job.

We're in anchorage, so winter is pretty much here

Epitope fucked around with this message at 18:05 on Oct 10, 2022

Epitope
Nov 27, 2006

Grimey Drawer

Kaiser Schnitzel posted:

Is there a free or cheaper than quickbooks bookkeeping software? I am tired of QuickBooks everchanging SaaS and just need something to do very basic bookkeeping-make invoices, track expenses, spit out year end profit/loss statements, etc. I don't need anything with integrated payments, inventory management, payroll, or anything complicated like that. Everything goes to my accountant, so if it could get spit out in a common format, so much the better.

I'm intrigued by things like sql ledger or GnuCash, but I don't have any experience with them. I share your frustration, not only is quickbooks clunky and features keep changing, they also hide your own data from you. Would be nice to get away from that

Epitope
Nov 27, 2006

Grimey Drawer
I make more and every so often write her a check. This way when one of us goes crazy and spends everything on a bunker full of beans, we won't have zero dollars.

Epitope
Nov 27, 2006

Grimey Drawer
Look it's only technically her account ok? We're married, we share everything, just let me withdraw it all already

Epitope
Nov 27, 2006

Grimey Drawer
Here's some discussion about the CMA core thing
https://www.bogleheads.org/forum/viewtopic.php?t=385627

Epitope
Nov 27, 2006

Grimey Drawer
There's no entrepreneur thread anymore, but maybe this goes here-

Cancer lays bare human frailty, and the small business owner is no exception. Watching this dude go from stoked hustling to build his biz, squabbling with competitors and collaborators, and grinding out some profit. First diagnosis/chemo knocked him down, but he still keep plugged into work. He "beat it" and went right back to grinding. Now cancer's back, and he's still just grinding away. I guess I don't know what else I expect, quitting would probably just be depressing for him. I guess we do what we know, dying or not. Maybe he'll leave more to his family this way? Hopefully he's taking a little more time to be with his people and go skydiving or whatever.

Epitope
Nov 27, 2006

Grimey Drawer
Those types of places rule. Seems very much a lifestyle to own and operate one. The people who do it seem like they enjoy it. Is there already a spot with buildings? Or is building part of this potential venture?

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Epitope
Nov 27, 2006

Grimey Drawer

Huh, cool, good to know.

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