Search found 34 matches

by gcc32
Tue Jul 16, 2019 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

Ok so in your case it doesn’t seem like this money has helped you. You seem restless, unhappy and constantly focused on what you should be doing. The challenges you’re facing seem more emotional than about personal finances or investing. I’d suggest you see a therapist. Personally I think you need ...
by gcc32
Mon Jul 15, 2019 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

Very interesting thread, as demonstrated by the large number of responses. My first impression was that with your impressive accumulation at your age, you have the potential for a great future. The FIRE idea to retire and spend quality time with your family only works for someone who is willing to ...
by gcc32
Mon Jul 15, 2019 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

It looks like you said are currently spending $165k per year. That doesn’t seem sustainable to fully retire with $3mil. It doesn’t sound like you want to retire, but some people are saying you could. It’s very easy to say you are going to cut spending, harder to put into practice. Agreed with all o...
by gcc32
Sat Jul 13, 2019 8:27 am
Forum: Personal Finance (Not Investing)
Topic: priority of supporting parents vs saving for college
Replies: 54
Views: 4092

Re: priority of supporting parents vs saving for college

Thank you for everyone's thoughts. I have provided some more info below, but there is still too much uncertainty for long-term planning. One wildcard is that we are in NYC now but I would prefer to move states in a year or two (which would have very different income and housing profiles). My husban...
by gcc32
Sat Jul 13, 2019 7:50 am
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

Thought I would post a short update. After approx. a year at my job, I left. It just didn’t seem worth it. Hopefully this isn’t a shortsighted decision, but I just felt too busy and wasn’t happy day to day. I met a lot of interesting people and found a part time remote role through someone I met at ...
by gcc32
Sat Feb 23, 2019 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

After a few more days of reflection, I think in this case this decision comes down to a gut feeling and eventually I just need to go with my gut, whatever it may be. I tried reading in the thread, but I don't get it. You could retire right now and not sure why you would want to keep working? At lea...
by gcc32
Sat Feb 23, 2019 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

I actually have several friends in the same basic situation. They took a variety of routes from their success, with an equal variety of outcomes thus far although the verdict is still out on a few. I was knee deep in the post Moneymaker online poker boom in the mid 2000s. I was a good player and ma...
by gcc32
Mon Feb 11, 2019 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

After a few more days of reflection, I think in this case this decision comes down to a gut feeling and eventually I just need to go with my gut, whatever it may be.
by gcc32
Sun Feb 10, 2019 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

Hi, OP. I'm the same age as you and have thought about this situation a lot. I think what I'd like to do, if my current career expires suddenly, is go on BizBuySell or some similar website like that, and become a serial owner of small businesses with growth potential. This is just because of my per...
by gcc32
Sat Feb 09, 2019 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

OP here - I took the excellent advice by one poster here of going around telling anyone I knew I wasn't looking for a job and seeing what happened. I was offered a job pretty quickly and took it. Job pays about 165k with a strong potential for bonus plus some decent perks and comes with full benefit...
by gcc32
Tue Jun 05, 2018 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Prepping for College Fall 2019
Replies: 32
Views: 2238

Re: Prepping for College Fall 2019

This is probably different advice than most people would give but I think you'll get the most bang for your buck doing everything you can to keep him in state at UW-M (which he seems a near lock to get accepted to) than going to a private school or out of state (assuming those are worse from a value...
by gcc32
Tue Jun 05, 2018 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Expensive house in HCOL area
Replies: 70
Views: 8021

Re: Expensive house in HCOL area

My nephew works for Google and his wife works for Cisco. They just bought a house in mountain view for 2.3M. They are both 30 and make a little more than you guys. But the property will appreciate and the incomes will go up. Buy the house and enjoy! Your stock options will build up to a nice retire...
by gcc32
Mon Jun 04, 2018 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Expensive house in HCOL area
Replies: 70
Views: 8021

Re: Expensive house in HCOL area

I'm in a similar situation to you. A couple years older, have looked at similarly priced houses in HCOL area, just had my first kid. My wife and I have rented for a long time. We don't like renting and do want to own. We've missed out on a ton of gains in real estate. But I bet we've actually made m...
by gcc32
Fri Jun 01, 2018 3:58 pm
Forum: Personal Consumer Issues
Topic: Advice for assisting 18 year old son after high school
Replies: 70
Views: 6380

Re: Advice for assisting 18 year old son after high school

Kind of weird seeing some of the harsh responses about $250 a month, considering many on this board plan on dropping $250,000 to let their kid go party at college. It's not fair to compare college, where the vast majority of the money is spent directly on tuition and room and board, to giving someo...
by gcc32
Fri Jun 01, 2018 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Beach condo vs mountain cabin investment property
Replies: 30
Views: 3029

Re: Beach condo vs mountain cabin investment property

You have most of your net worth tied up in retirement accounts that you can't access for a few decades without large penalties. In buying another property, you'd tie up a good percentage of your free cash in an investment that is unlikely to be very good. You are not an expert at real estate (i assu...
by gcc32
Fri Jun 01, 2018 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Best Advice You Never Took
Replies: 100
Views: 16141

Re: Best Advice You Never Took

A number of people have told me over the years to enjoy youth and not be in such a rush to grow up so fast. I was always fairly ahead of the curve with achievement and ambition. It took me until probably my mid to late 20's to really understand this, but by that time, some of the best years of my li...
by gcc32
Fri Jun 01, 2018 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

This is the most depressing thread, and not for the reasons you think. Other than the 40 year old that parked his can on the beach for a year, (no offense, but...) not a one of us is qualified to give you reasonable advice, because we haven’t a clue of what you are facing or feeling since 99.9% are...
by gcc32
Fri Jun 01, 2018 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

I went through something very similar. One piece of advice to add - stay in your current city for the next six months and reconnect with every old friend and coworker. I found the best way to find what I wanted to do was to see what all my friends were doing. And you’ll be amazed how easy it can be...
by gcc32
Fri Jun 01, 2018 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

I'm going to guess affiliate marketing. I'm in a similar boat (if affiliate marketing is your niche). I will probably pivot to real estate once the well is totally dry. I've been reading this forum for more than a year and decided to register after reading your post. I'm in the same exact situation...
by gcc32
Thu May 31, 2018 9:28 am
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

I've been reading this forum for more than a year and decided to register after reading your post. I'm in the same exact situation. Around the same amount of money, but 40 years old. I did affiliate marketing for almost 10 years. I don't have any advice, I tried living on the beach for 1 year, but ...
by gcc32
Thu May 31, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

Congratulations! If I were you, I would think long and hard about how your decision will affect your child(ren). I would make damned sure my children didn't see me as lazy, without passion, or without direction despite my early success, for fear that they would emulate my example. Remember, they wi...
by gcc32
Thu May 31, 2018 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

3. "IF" you have the savy and knack for it, and a passion to do so for the "long term", and willingness to do "whatever it takes to succeed". . . consider exploring being a landlord for your own multi unit housing units. You can continue working while you do so. Done the traditional way, not high l...
by gcc32
Thu May 31, 2018 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

I would rather not try to use assets to cover my lifestyle. This deserves more discussion. Why? Is your goal to leave the whole thing to heirs? That changes things dramatically. If I was 60+ then I would have no problems with this. I just think there's too many unknowns given I hope to live for 50 ...
by gcc32
Thu May 31, 2018 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

I am in a very similar situation, but just a few years older with the luck of saving 80% of my pay and investing over the years. I have 5mm asset (60% in the mkt; rest is in rental and home equity). Our spending is also 100k- 120k per year and a young toddler at home. I am debating what will be nex...
by gcc32
Thu May 31, 2018 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

There's a whole community of financially independent early retired folks with kids. You may want to check out some blogs or get on some of those discussion boards to get some ideas and perspective. The MMM forum is pretty active. Thank you. Do you have any specific ones that you recommend? I've rea...
by gcc32
Wed May 30, 2018 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

Congratulations! If I were you, I would think long and hard about how your decision will affect your child(ren). I would make damned sure my children didn't see me as lazy, without passion, or without direction despite my early success, for fear that they would emulate my example. Remember, they wi...
by gcc32
Wed May 30, 2018 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

I understand why many comments are towards starting your own business. I think if you have the right business idea and the right skills to make it successful, that would be a natural path. I would be concerned about starting a business just because you don’t see an available alternative that you li...
by gcc32
Wed May 30, 2018 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

What's your plan for health care? My wife and kid will have health insurance through her former employer for almost another 6 months or so. After that she can go on the insurance plan I have and will have as long as I continue part-time with my former career (I'm still working part time, not as suc...
by gcc32
Wed May 30, 2018 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

You are very lucky. You can do literally anything you want to do. Go to med school, law school, both, whatever you want. I admire your desire to do something. Don't get stuck on "specific career path", "guaranteed income", "maybe low 6 figures", "now or never", "traditional job", "normal work exper...
by gcc32
Wed May 30, 2018 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

6 dollar ribs wrote:
Wed May 30, 2018 3:43 pm
Former professional poker player?
No, but similar idea. Once really hot market that has cooled off. I was in the right place at the right time.
by gcc32
Wed May 30, 2018 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

1. Stop "trading". You won, and maybe it was luck. 2. Don't invest all (much?) of your own money. I'm not sure what you mean by 1. I'm kind of acknowledging it's the end of the line for my former job. And I know I did get lucky, that's why I'm trying to be realistic about my future career prospects...
by gcc32
Wed May 30, 2018 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Re: Have $3m at 33, "approach to career" advice needed

First thing I thought after reading your post: what's your passion? If you plan on using your assets + your wife's salary to cover expenses maybe you could do just go ahead and do something your passionate about. I would rather not try to use assets to cover my lifestyle. Of course this is the fall...
by gcc32
Wed May 30, 2018 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Rental Property To Future House?
Replies: 18
Views: 1660

Re: Rental Property To Future House?

Scenario 3: Buy a property in 2-3 hours outside of current house (Folsom/Granite Bay/El Dorado Hills/Rocklin). This house would be a $700-$800K house which would give on average a 4 bedroom, 3000 sq ft house in very nice areas. Comparable house in Silicon Valley would cost $1.8-$2.0+. Public school...
by gcc32
Tue May 29, 2018 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35208

Have $3m at 33, "approach to career" advice needed

I'm in a unique position financially and there's not a lot of people I feel like I can talk to about the topic. Any advice is appreciated. I'm 33, live in HCOL area, with a net worth of about 3.2M (400k SEP IRA, 2.5M index funds, $300k cash/misc). No debt. Renting. Married with an infant at home. Sp...