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Old 10-09-2018, 07:16 PM
 
Location: El Pueblo de Nuestra Señora la Reina de los Ángeles del Río Porciúncula
14,518 posts, read 15,165,436 times
Reputation: 10360

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I like the idea of doing the same thing as this couple, but get a few more $M and buy a nice house, or maybe one of those NYC type condos or apartment you buy (no upkeep except utilities when you're away), and THEN travel the world. My main criticism of this couple is they should have done a few more years while they were hot, get a fancy place to call their own, and do their travel thing then. Except they'd lose the brag they don't own property. Perhaps they could lie about owning a property. The blog/YouTube/book thing still works. — I think they didn't dream big enough. What works for $1M works even better at $2M-$3M, except more grand!
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Old 10-10-2018, 07:55 PM
 
Location: Bay Area, CA
29,041 posts, read 44,862,665 times
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Quote:
Originally Posted by JonathanLB View Post
There was a total of $4,200 on gifts one year I’m seeing but spread across family and my GF primarily that’s not excessive. Even if I had spent let’s say $1,000 on gifts it would have only taken the annual cost down to $34,000.
This thread isn't about you, so forgive me for getting personal - but damn! $4200 on "gifts" at that income? I earn more than double that, and probably haven't spent more than $100/year on gifts in a LONG time. My family doesn't really do gift exchanges anymore, even for the kids, since we realized it was just a waste of everyone's money. But even when I did give gifts to everyone for Hanukkah and birthdays, it was waaaaay less than that. I hope you're buying them nice stuff, at least!
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Old 10-10-2018, 08:03 PM
 
Location: Bay Area, CA
29,041 posts, read 44,862,665 times
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Quote:
Originally Posted by homelessinseattle View Post
Agreed, the whole "retire for awhile then go back to work" isn't so easy as people throw about. IMO if you're going to retire and quit a well paying job then do it with enough money to stay retired. You never know what the future job market holds.


Nonsense. A married couple with a paid off home and simple tastes in a low-cost area can live perfectly fine

Just a joke. We get by fine on less.
.Is a household with income of $50k/year poor?
But but but... your user name is "HOMELESSinSeattle." LOL

Regardless, the key words here are "low-cost area." This couple is from Toronto, which I think is fairly expensive? I know that here in the Bay Area, a $50K household income literally qualifies you for low-income housing. Sad but true!
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Old 10-11-2018, 12:02 AM
 
Location: El Pueblo de Nuestra Señora la Reina de los Ángeles del Río Porciúncula
14,518 posts, read 15,165,436 times
Reputation: 10360
I "gift" my friends by surprising them and picking up our dinner tab.

I've had best friends who they and I get into a contest to grab the check first.

It's soooo much fun to have a contest of mutual generosity.
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Old 10-11-2018, 03:11 AM
 
3,002 posts, read 4,205,460 times
Reputation: 3651
Quote:
Originally Posted by Lovehound View Post
I "gift" my friends by surprising them and picking up our dinner tab.

I've had best friends who they and I get into a contest to grab the check first.

It's soooo much fun to have a contest of mutual generosity.
Could you be any more off topic? And while we are going there, have you ever noticed how all your posts start with the word "I"?
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Old 10-11-2018, 06:41 AM
 
11,741 posts, read 21,323,190 times
Reputation: 11396
Quote:
Originally Posted by gizmo980 View Post
This thread isn't about you, so forgive me for getting personal - but damn! $4200 on "gifts" at that income? I earn more than double that, and probably haven't spent more than $100/year on gifts in a LONG time. My family doesn't really do gift exchanges anymore, even for the kids, since we realized it was just a waste of everyone's money. But even when I did give gifts to everyone for Hanukkah and birthdays, it was waaaaay less than that. I hope you're buying them nice stuff, at least!
That's not income that is spending level.
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Old 10-11-2018, 10:54 AM
 
25,918 posts, read 28,305,960 times
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Quote:
Originally Posted by Stockyman View Post
Most DINK couples with high paying jobs can definitely do the same thing. It's the couples with kids who have average paying jobs that can't do the same. Like a bunch of other posters stated I think the couple should have worked a few more years to build that investment egg. Also IMO they are not retired but working on another venture that pays them.
I agree. A couple with 2 kids and average incomes can't do it in their 30s. But, at the same time, I don't necessarily think it means they have to work until 65 or 70, either. Planning, frugality, and not doing things the standard American way will take you pretty far.

It depends on so many things...

40% of America's children are born out of wedlock. That knocks almost all of those folks out right at the starting gate.

Does this average earning couple save one of their incomes for a few years before they have kids and live off the other? Do they live in a 1BR apartment to keep expenses low so they can save? Etc. That kind of stuff makes a huge difference over time.
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Old 10-11-2018, 10:58 AM
 
25,918 posts, read 28,305,960 times
Reputation: 24558
Quote:
Originally Posted by Lovehound View Post
I like the idea of doing the same thing as this couple, but get a few more $M and buy a nice house, or maybe one of those NYC type condos or apartment you buy (no upkeep except utilities when you're away), and THEN travel the world. My main criticism of this couple is they should have done a few more years while they were hot, get a fancy place to call their own, and do their travel thing then. Except they'd lose the brag they don't own property. Perhaps they could lie about owning a property. The blog/YouTube/book thing still works. — I think they didn't dream big enough. What works for $1M works even better at $2M-$3M, except more grand!
Some people just don't care about that stuff. Sure, maybe if it were easy for them to get, it would be nice to have. But it just wasn't worth it to them. Their portfolio is worth more now than when they started, despite the major stock market downturn they had in Canada a few years ago from the oil price crash.

And it's not like they don't earn any extra income. They have a little blog income (which critics use to accuse them of not really being FI), plus they do part time coding, plus they like to write children's books and just got one published recently.

In short, they're doing fine and they should be able to gradually increase their standard of living over time if they want to.
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Old 10-11-2018, 11:25 AM
 
Location: El Pueblo de Nuestra Señora la Reina de los Ángeles del Río Porciúncula
14,518 posts, read 15,165,436 times
Reputation: 10360
I hope they aren't 'coding' because in the world of software (my world!) 'coding' is low level work for grunts and interns.

I think it is totally smart to reach your FI and then work only on things you enjoy. It's like me, I enjoy writing and intend to attempt at least one novel. You could call that work but in my playing around so far I've found it quite fun to put my imagination into words.

That shows their acumen if their portfolio is growing. If it keeps doing that then they were the smart ones.

I really love my beautiful home but I recognize what I love is something that many may regard as a burden.

The Baby Boomers have set a new paradigm for retirement. They are retiring and many are taking up second, more enjoyable careers, possibly working only the hours they like, dabbling, hobby businesses.

I don't consider this FIRE couple's blogging as any contradiction. Anybody who is really smart probably doesn't want to just idle their whole life away. Working gives purpose to my life. I wouldn't want a life with no purpose except for ego satisfaction.

I have to admit I'm not enjoying my other career, investing. There's blood on Wall Street this week.
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Old 10-12-2018, 08:00 AM
 
13,617 posts, read 7,220,568 times
Reputation: 24947
Quote:
Originally Posted by Lovehound View Post
I hope they aren't 'coding' because in the world of software (my world!) 'coding' is low level work for grunts and interns.

That kind of depends on the sector. With all the product development I've done in startups, there's no way you'd let a grunt or an intern near the crown jewels. Your A players write all of the mission critical code. In metro Boston, you won't find many making less than $150K and $200K+ is pretty common these days. In the Bay Area, bump that comp another 30% for the insane cost of living. You let the grunts, H-1Bs, and interns do the meatball stuff like web pages and QA.
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