Author Topic: Train from $4M and beyond  (Read 12742 times)

GreenEggs

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Re: Train from $4M to $8M
« Reply #50 on: June 27, 2020, 08:13:20 PM »

I've been looking at Ark Funds which have had similar gains.  ARKG 52.79% YTD & ARKW 43.95%  Wish I'd known about them 6 months ago.  About half my NW is tied up in real estate, hoping to unload it soon.

I have about a 2% position in ARKK. I'm mostly an individual stock investor but I'm becoming more willing to let them manage a portion of my portfolio.  I've been building it slowly for about a year and a half. I like their research very much. You should check out their podcasts and youtube presence as well as all their research models are all open source.

I get more out of them than just the investment growth since I lean on them for information across my portfolio.

Cathie Wood is awesome.


I've seen their podcasts & also have been receiving their lists of daily transactions.  Realizing how often she adjusts her positions opened my eyes about what goes on behind the scenes to achieve those kind of numbers.  It's good to hear that you like Ark too. 


If the C-19 crash hadn't happened I would have remained content with Vanguard & not bothered looking for better options. 

PaulMaxime

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Re: Train from $4M to $8M
« Reply #51 on: June 27, 2020, 11:35:37 PM »

I've been looking at Ark Funds which have had similar gains.  ARKG 52.79% YTD & ARKW 43.95%  Wish I'd known about them 6 months ago.  About half my NW is tied up in real estate, hoping to unload it soon.

I have about a 2% position in ARKK. I'm mostly an individual stock investor but I'm becoming more willing to let them manage a portion of my portfolio.  I've been building it slowly for about a year and a half. I like their research very much. You should check out their podcasts and youtube presence as well as all their research models are all open source.

I get more out of them than just the investment growth since I lean on them for information across my portfolio.

Cathie Wood is awesome.


I've seen their podcasts & also have been receiving their lists of daily transactions.  Realizing how often she adjusts her positions opened my eyes about what goes on behind the scenes to achieve those kind of numbers.  It's good to hear that you like Ark too. 


If the C-19 crash hadn't happened I would have remained content with Vanguard & not bothered looking for better options.

So I don't trade anything near like they do for sure. I'm more buy and hold. But they have weird restrictions because they are a mutual fund - like they can't have anything more than 10% of their portfolio and so they have to sell things that grow too big - where I'd be delighted if something grew that much. I might eventually trim back but we as individuals don't have an arbitrary limit like that.

Glad to hear that you are looking at other things. Index is great and for most people it's probably the best but I do think it's possible to do better. I've done much better personally, and I've been tracking my returns against the "market" since 2007.

StackOfCoins.com (Jay)

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Re: Train from $4M and beyond
« Reply #52 on: August 04, 2020, 05:38:25 PM »
Quick update, hit a new high watermark right at the end of July:

August 2015: $1.0
April 2018: $2.0
July 2019: $2.8
December 2019: $3.6
July 2020: $5.0

This doesnít show the 60% drawdown I had to go through during covid. oof!!

Separate topic: Iím curious if folks on this thread here have net worth goals.


secondcor521

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Re: Train from $4M to $8M
« Reply #53 on: August 04, 2020, 08:14:45 PM »
I hear you on that.  I have a good friend at work who occasionally asks me for financial advice.  I know enough not to try to help people without their explicitly asking, but he was asking, so I've answered his questions and pointed him toward good resources.  He does not know I'm FI (I keep that pretty close to the vest) but does know from things I've been involved with on the job that I'm good with money. 

Then one day out of the blue he just lays into me about how he's sick of me "lording it over everybody how rich I am."   

No idea what got into him, but that was the end of that.

I'm not necessarily qualified to post in this thread.

However, I have noticed that it is incredibly easy to say stuff without even thinking and unintentionally reveal - at least in broad strokes - information about how much money we have.  For example, mentioning VTSAX which has a minimum investment amount.

Sometimes people incorrectly project based on stuff we say too.  If I say I retired early at 46 or have a net WR of 0.8%, some people may assume that I have more than I actually do.

I try to be very careful in what I say for that reason - no interest in being a tall poppy.  My general rule is to never discuss assets or income to any degree of specificity.

StackOfCoins.com (Jay)

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Re: Train from $4M and beyond
« Reply #54 on: August 04, 2020, 10:34:40 PM »
Agreed. I also donít talk specifics of my finances. A lot of downside, little to no upside, of doing so.

StackOfCoins.com (Jay)

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Re: Train from $4M and beyond
« Reply #55 on: August 05, 2020, 11:08:25 AM »
Money can be a very personal thing, and can carry a lot of emotional baggage with it depending on the person.

For friends who are at somewhat of a similar place financially, I am comfortable with talking investments if the topic comes up.

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Re: Train from $4M to $8M
« Reply #56 on: August 26, 2020, 09:44:46 PM »

I've been looking at Ark Funds which have had similar gains.  ARKG 52.79% YTD & ARKW 43.95%  Wish I'd known about them 6 months ago.  About half my NW is tied up in real estate, hoping to unload it soon.

I have about a 2% position in ARKK. I'm mostly an individual stock investor but I'm becoming more willing to let them manage a portion of my portfolio.  I've been building it slowly for about a year and a half. I like their research very much. You should check out their podcasts and youtube presence as well as all their research models are all open source.

I get more out of them than just the investment growth since I lean on them for information across my portfolio.

Cathie Wood is awesome.


I've seen their podcasts & also have been receiving their lists of daily transactions.  Realizing how often she adjusts her positions opened my eyes about what goes on behind the scenes to achieve those kind of numbers.  It's good to hear that you like Ark too. 


If the C-19 crash hadn't happened I would have remained content with Vanguard & not bothered looking for better options.



How do you receive the daily transactions of ARK?. I am really interested in starting investing in ARKK, however I hesitate everyday as the price keeps going up so much due to tesla. I am hoping for a pullback of Tesla and ARKK to start investing.

GreenEggs

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Re: Train from $4M to $8M
« Reply #57 on: August 27, 2020, 07:23:51 AM »

I've been looking at Ark Funds which have had similar gains.  ARKG 52.79% YTD & ARKW 43.95%  Wish I'd known about them 6 months ago.  About half my NW is tied up in real estate, hoping to unload it soon.

I have about a 2% position in ARKK. I'm mostly an individual stock investor but I'm becoming more willing to let them manage a portion of my portfolio.  I've been building it slowly for about a year and a half. I like their research very much. You should check out their podcasts and youtube presence as well as all their research models are all open source.

I get more out of them than just the investment growth since I lean on them for information across my portfolio.

Cathie Wood is awesome.


I've seen their podcasts & also have been receiving their lists of daily transactions.  Realizing how often she adjusts her positions opened my eyes about what goes on behind the scenes to achieve those kind of numbers.  It's good to hear that you like Ark too. 


If the C-19 crash hadn't happened I would have remained content with Vanguard & not bothered looking for better options.



How do you receive the daily transactions of ARK?. I am really interested in starting investing in ARKK, however I hesitate everyday as the price keeps going up so much due to tesla. I am hoping for a pullback of Tesla and ARKK to start investing.






There's a place on their website for you to subscribe for it.  Btw, a few days ago I noticed that instead of listing the number of shares purchased or sold they've changed it to a percentage of their portfolio, which seems odd.  So, instead of it saying 241559 shares sold now it says .0347% sold.  I guess they've decided to slightly less transparent. 


I'm not sure why ARKK seems to get more attention because ARKW has slightly higher performance numbers.  They both hold about 10% of TSLA.  Each day TSLA prices rise ARK sells off more shares of it.  I'm not sure what will happen when the TSLA bubble bursts.  I don't know if it was wise, but I purchased some of each of the 5 ARK funds to diversify a bit.  Only ARKK & ARKW hold TSLA, but the others still perform quite well. 

PaulMaxime

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Re: Train from $4M to $8M
« Reply #58 on: August 28, 2020, 08:40:55 AM »

How do you receive the daily transactions of ARK?. I am really interested in starting investing in ARKK, however I hesitate everyday as the price keeps going up so much due to tesla. I am hoping for a pullback of Tesla and ARKK to start investing.

Instead of waiting for a pullback divide the amount you want to invest in to 3 parts. invest some now and then maybe each month after. This way you don't miss out because of some arbitrary price you've set in your head.

It's really easy to anchor on a price and then have a stock just totally run away on you. This way if it goes down you get to by more at a lower price and if it keeps going up you don't totally miss out.

As far as the percentage of a trade being less transparent I disagree. A number of shares is meaningless unless you know how many they hold. This way you can get a real idea of how they are managing their portfolio without having to know the size of each position.

They've been taking in a lot of capital so a 10000 share buy or sell today is a smaller transaction relatively than the same 10000 share transaction 6 months ago, where this would show up as a smaller percentage now. So much more useful.

GreenEggs

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Re: Train from $4M to $8M
« Reply #59 on: August 28, 2020, 08:58:50 AM »

How do you receive the daily transactions of ARK?. I am really interested in starting investing in ARKK, however I hesitate everyday as the price keeps going up so much due to tesla. I am hoping for a pullback of Tesla and ARKK to start investing.

Instead of waiting for a pullback divide the amount you want to invest in to 3 parts. invest some now and then maybe each month after. This way you don't miss out because of some arbitrary price you've set in your head.

It's really easy to anchor on a price and then have a stock just totally run away on you. This way if it goes down you get to by more at a lower price and if it keeps going up you don't totally miss out.

As far as the percentage of a trade being less transparent I disagree. A number of shares is meaningless unless you know how many they hold. This way you can get a real idea of how they are managing their portfolio without having to know the size of each position
.

They've been taking in a lot of capital so a 10000 share buy or sell today is a smaller transaction relatively than the same 10000 share transaction 6 months ago, where this would show up as a smaller percentage now. So much more useful.


I'm sure you're right.  Neither measure really means much to me, I just notice the buy/sell part & the ticker symbols.

imolina

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Re: Train from $4M to $8M
« Reply #60 on: August 29, 2020, 09:36:18 PM »

How do you receive the daily transactions of ARK?. I am really interested in starting investing in ARKK, however I hesitate everyday as the price keeps going up so much due to tesla. I am hoping for a pullback of Tesla and ARKK to start investing.

Instead of waiting for a pullback divide the amount you want to invest in to 3 parts. invest some now and then maybe each month after. This way you don't miss out because of some arbitrary price you've set in your head.

It's really easy to anchor on a price and then have a stock just totally run away on you. This way if it goes down you get to by more at a lower price and if it keeps going up you don't totally miss out.

As far as the percentage of a trade being less transparent I disagree. A number of shares is meaningless unless you know how many they hold. This way you can get a real idea of how they are managing their portfolio without having to know the size of each position.

They've been taking in a lot of capital so a 10000 share buy or sell today is a smaller transaction relatively than the same 10000 share transaction 6 months ago, where this would show up as a smaller percentage now. So much more useful.

That's what I decided to do last week. I started to invest in it slowly. I bought some shares, next month I will buy more, and so on. Thanks

PaulMaxime

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Re: Train from $4M and beyond
« Reply #61 on: December 04, 2020, 11:14:41 AM »
Just curious how everyone on this thread has done this year.

I'm currently up 112% for the year, and on top of that my private company did a tender offer and I got to sell them some shares to the tune of about $1MM pre tax.

I don't generally count my private stock in my net worth at all.

2sk22

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Re: Train from $4M and beyond
« Reply #62 on: December 04, 2020, 01:03:49 PM »
Just curious how everyone on this thread has done this year.

I'm currently up 112% for the year, and on top of that my private company did a tender offer and I got to sell them some shares to the tune of about $1MM pre tax.

I don't generally count my private stock in my net worth at all.

We did very well but definitely not 112%! In our household, we have acquired wealth mostly by index fund investments. But the market rise has definitely helped us and our net worth is now well over $5M. This amount is well above any number I had in mind so I was able to retire - which has been a much greater source of happiness for me.

GreenEggs

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Re: Train from $4M and beyond
« Reply #63 on: December 04, 2020, 01:12:34 PM »
I haven't done quite as well as you in the market, but we suddenly have buyers for all of our real estate.  Three lots under contract & 2 more scheduled to be early next week, all closing by end of 2020.  So, that will be almost $3M to deposit with Vanguard. 



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Re: Train from $4M and beyond
« Reply #64 on: December 06, 2020, 09:05:49 AM »
My TNW went from $4M at year start, to $3.3M at March low, to $4.3M at today's high.  As far as LNW its more like $3.3M today, so decent chance I'll never make it into this group based off of that definition.

That's pretty much all market movement.  Didn't work a lot this year but it was enough to cover the bills and not touch the portfolio.

JoJoP

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Re: Train from $4M and beyond
« Reply #65 on: December 08, 2020, 09:11:55 AM »
Most of our NW is in real estate, and rough values are skyrocketing and we're up almost $800K this year, maybe more.   So far, I'm still in the "pinch me" stage. 

We've diversified now to  a LCOL area, which allows a 8-10% return after expenses every year on properties that had doubled in our HCOL home area.   By moving a couple of assets, we increased our yearly take home and splintered large assets into smaller, more mobile ones with a better return.  We don't expect the new investments to appreciate as rapidly, but the monthly return is greater and we plan on long term holds. 

 I think we're going to do it again, and, again, increase our profit by a couple grand a month.   Plus it's fun! 
« Last Edit: December 08, 2020, 09:21:46 AM by JoJoP »

StackOfCoins.com (Jay)

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Re: Train from $4M and beyond
« Reply #66 on: January 15, 2021, 02:48:24 PM »
Update: 2020 turned out to be a banner year, surprisingly.

August 2015: $1.0M
April 2018: $2.0
July 2019: $2.8
December 2019: $3.6
July 2020: $5.0
Dec 2020: $7.5


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Re: Train from $4M and beyond
« Reply #67 on: January 21, 2021, 07:15:46 AM »
My view on retiring at a certain NW # has changed. 

For me, once my corporate gig is over, I plan to continue working in some capacity in an area that I'm passionate about.

Anyone else in the same boat?

--Jay


That has always been my plan.  Just enough to be able to make Roth contributions, which I can't make now.  Income is over the limit and I have well over 2 commas in tIRAs.

EscapeVelocity2020

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Re: Train from $4M and beyond
« Reply #68 on: January 21, 2021, 08:41:11 AM »
Update: 2020 turned out to be a banner year, surprisingly.

August 2015: $1.0M
April 2018: $2.0
July 2019: $2.8
December 2019: $3.6
July 2020: $5.0
Dec 2020: $7.5

On one hand, I'm really impressed at what was possible, but on the other hand, I had enough at $2M (and 3 and 4...) so I'm pretty happy to plod along at 'only' $500k growth for 2020.  It's still a whole lot more money YoY than I'll ever spend, even with all the charity I'm doing these days.  I sometimes think I should take 500k or a million and try harder, but what would I do with another 500k or million net worth anyways?  I can already do stuff like fly first class and buy a crazy second home, and I don't really want to do either of those things.  Already did it as an expat with my job and will likely do it again if the world gets back to normal.  They paid me to have a second home in Dubai and Paris, fly first class on Emirates and Air France, so I guess now I'm a bit jaded on spending my own money on such things that honestly were only fun for a few years.

EscapeVelocity2020

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Re: Train from $4M and beyond
« Reply #69 on: January 21, 2021, 08:56:24 AM »
My view on retiring at a certain NW # has changed. 

For me, once my corporate gig is over, I plan to continue working in some capacity in an area that I'm passionate about.

Anyone else in the same boat?

--Jay

Retirement seems over-rated to me, especially after experiencing working from home.  My work (prior to 2020) gives me many things that money cannot buy.  Being a professional has given me access to challenges and situations that I cherish.  Once I retire, I have to spend my own money just to have access to things other people can also buy.  Sounds like either a whole lot more work to become more proficient than them, or boring because I'm just buying commercial things (even when it comes to experiences).

Doing HUET training every few years, safety reviews for offshore platforms so that the workers are able to focus on their tasks and production is flowing, and being part of multi-billion dollar projects is way too interesting for me to just 'retire early' and feel like I've won some challenging competition.  But I do understand that many normal people are enamoured with the quixotic idea that they hit FI and blissfully sip champagne at 9am on a Monday morning for the rest of their life :)

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Re: Train from $4M and beyond
« Reply #70 on: January 21, 2021, 08:59:14 AM »
Do any of you know where we can get a Covid vaccination a bit sooner?  Is there a donation I can make that will get me one today??? 


I'm so tired of waiting.  It seems like there should be a 1st class access for it somewhere. 


It's tough watching my portfolio fluctuate $200K per day and having to wait my turn for the damn shots! 



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Re: Train from $4M and beyond
« Reply #71 on: January 21, 2021, 09:41:09 AM »
Do any of you know where we can get a Covid vaccination a bit sooner?  Is there a donation I can make that will get me one today??? 


I'm so tired of waiting.  It seems like there should be a 1st class access for it somewhere. 


It's tough watching my portfolio fluctuate $200K per day and having to wait my turn for the damn shots!
You're mid-50s.  Have some shame and wait your turn.

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Re: Train from $4M and beyond
« Reply #72 on: January 21, 2021, 09:47:05 AM »
Do any of you know where we can get a Covid vaccination a bit sooner?  Is there a donation I can make that will get me one today??? 


I'm so tired of waiting.  It seems like there should be a 1st class access for it somewhere. 


It's tough watching my portfolio fluctuate $200K per day and having to wait my turn for the damn shots!
Hahaha, I got one because I volunteer at a thrift store that benefits a local hosputal. Go figure.

I follow this thread because I like "train" over "race", as previously mentioned. Technically, our TNW (is that redundant?) qualifies me, but the big half is in RE. Nowhere near $4M in equities alone.

I'll go back to lurking now. Plus, I have another shift at the thrift store today, so I need to get myself in gear if I'm going to have time to walk there. Good thing I already packed my lunch.

GreenEggs

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Re: Train from $4M and beyond
« Reply #73 on: January 21, 2021, 09:47:46 AM »
Do any of you know where we can get a Covid vaccination a bit sooner?  Is there a donation I can make that will get me one today??? 


I'm so tired of waiting.  It seems like there should be a 1st class access for it somewhere. 


It's tough watching my portfolio fluctuate $200K per day and having to wait my turn for the damn shots!
You're mid-50s.  Have some shame and wait your turn.




You sound like my wife!  ;)

shuffler

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Re: Train from $4M and beyond
« Reply #74 on: January 21, 2021, 12:51:52 PM »
You sound like my wife!  ;)
She sounds lovely!   :^)

GreenEggs

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Re: Train from $4M and beyond
« Reply #75 on: January 21, 2021, 01:20:22 PM »
You sound like my wife!  ;)
She sounds lovely!   :^)




She is. 


As they say, "opposites attract". 

JoJoP

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Re: Train from $4M and beyond
« Reply #76 on: January 22, 2021, 11:45:41 AM »
Do any of you know where we can get a Covid vaccination a bit sooner?  Is there a donation I can make that will get me one today??? 


I'm so tired of waiting.  It seems like there should be a 1st class access for it somewhere. 


It's tough watching my portfolio fluctuate $200K per day and having to wait my turn for the damn shots!
Hahaha, I got one because I volunteer at a thrift store that benefits a local hosputal. Go figure.

I follow this thread because I like "train" over "race", as previously mentioned. Technically, our TNW (is that redundant?) qualifies me, but the big half is in RE. Nowhere near $4M in equities alone.

I'll go back to lurking now. Plus, I have another shift at the thrift store today, so I need to get myself in gear if I'm going to have time to walk there. Good thing I already packed my lunch.

I could never volunteer at a thrift store because I'd lug too many treasures home.  Really my inner starving student just takes over at a thrift store.    I had to swear off thrift store shopping several years ago when the clutter finally became too much. 

 I love to volunteer, though, and I haven't been without a charitable cause in decades.  When one has the ability, I think it's part of my civic duty to help where and when I can. 

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Re: Train from $4M and beyond
« Reply #77 on: January 26, 2021, 05:21:14 AM »
When I worked I thought Iíd never get the challenges or situations after I retired. I was right - those challenges donít exist for me in retirement. HOWEVER, I donít miss them at all. This was a big surprise to me. Iíll never return to work.

EscapeVelocity2020

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Re: Train from $4M and beyond
« Reply #78 on: January 27, 2021, 12:11:00 PM »
When I worked I thought Iíd never get the challenges or situations after I retired. I was right - those challenges donít exist for me in retirement. HOWEVER, I donít miss them at all. This was a big surprise to me. Iíll never return to work.

Yeah, I don't think I'd ever return to work if I was laid off or FIRE, but that is another reason why I'm putting it off.  I know that I am enjoying the current lifestyle, especially now that I'm flexibly working from home, and I have the most options I'll ever have.  If I decide to FIRE after returning to office work, then I'll move in to the next phase of life with a great attitude about it.  But if I get back to the office and enjoy it, then I have more options than if I FIRE now. 

I look back to a time when I could've FIRE'd in 2006 when I was pretty miserable at work.  Then, in 2007, my industry went bonkers (oil went to $150/bbl) and I got multiple pay-raises, changed jobs, and lived overseas several times in the years that followed.  I guess I never would've known the awesomeness that I would have missed and maybe something else awesome would've happened, but I have no regrets to have continued to work well past FI - always being able to RE.  At some point, I will force myself to retire just so I can become more effective at deploying my wealth, whether it be philanthropy, trying new ventures, or just trying out some frivolous spending.  Maybe all three...

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Re: Train from $4M and beyond
« Reply #79 on: January 27, 2021, 01:40:47 PM »
At some point, I will force myself to retire just so I can become more effective at deploying my wealth, whether it be philanthropy, trying new ventures, or just trying out some frivolous spending.  Maybe all three...

FWIW, I find frivolous spending to be entirely unappealing.  Philanthropy and new ventures are both good.

And it is true that when you FIRE, you end up having more time and energy to focus on growing wealth.  I regularly find new ideas to implement even though I've been at it for decades and know most all the tricks out there.

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Re: Train from $4M and beyond
« Reply #80 on: January 27, 2021, 03:27:07 PM »
At some point, I will force myself to retire just so I can become more effective at deploying my wealth, whether it be philanthropy, trying new ventures, or just trying out some frivolous spending.  Maybe all three...

FWIW, I find frivolous spending to be entirely unappealing.  Philanthropy and new ventures are both good.

And it is true that when you FIRE, you end up having more time and energy to focus on growing wealth.  I regularly find new ideas to implement even though I've been at it for decades and know most all the tricks out there.

Frivolous spending is in the eye of the beholder also.  I consider things like SCUBA diving and skiing to be frivolous, and I spend more money than I need to when I'm on vacation, but I've enjoyed all of those things commensurately quite a bit now that I don't worry or feel guilty about the extra spending.  And I also have some purchase failures, but I can shrug and move on.  You never know if something is worth the money until you try.  But my former self would have agonized over my stupidity.

I guess if I start to exceed the 4% rule I'll have to start thinking about money again, but I'm nowhere near that and moving slowly further away as the NW spirals upward.  To be honest though, the pandemic slowed us down significantly, so I'm also looking forward to being able to spend more.

The FIRE community is a great place to be when you are on your way or near FI and ER, but beyond FI and still enjoying work, I've found it harder to stay engaged.  Spendy enthusiasts / consumer sukkas can be fun as long as I maintain stealth-wealth.  It's not like I'm shopping for yachts and sports cars just yet, but we do spend a lot on fancy pants orchids (my DW's hobby), home improvement, and vacations (my hobby).

Much Fishing to Do

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Re: Train from $4M and beyond
« Reply #81 on: February 11, 2021, 04:54:17 PM »
I hit $4.5M NW and $3.5M LNW today, so I'm closer to joining this co. legit. Pretty awesome market for now (fingers crossed, sorry for all you youngins who want it to drop, I'm more about ups now).  Given I'm struggling on the job side of things right now the market is what I got.

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Re: Train from $4M and beyond
« Reply #82 on: March 11, 2021, 12:10:45 PM »
I hit $4.5M NW and $3.5M LNW today, so I'm closer to joining this co. legit. Pretty awesome market for now (fingers crossed, sorry for all you youngins who want it to drop, I'm more about ups now).  Given I'm struggling on the job side of things right now the market is what I got.
Congratulation, but with numbers like that, why are you still doing anything that's called a j-o-b?

Now I'm curious, so I'll wander off to check my numbers since I haven't done it in a while. We have nowhere near $4M liquid and probably never will, but we have a big chunk of RE and valuations are insane these days, so our TNW tips the scale. Crazy.

EscapeVelocity2020

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Re: Train from $4M and beyond
« Reply #83 on: March 11, 2021, 12:36:10 PM »
I hit $4.5M NW and $3.5M LNW today, so I'm closer to joining this co. legit. Pretty awesome market for now (fingers crossed, sorry for all you youngins who want it to drop, I'm more about ups now).  Given I'm struggling on the job side of things right now the market is what I got.
Congratulation, but with numbers like that, why are you still doing anything that's called a j-o-b?

Now I'm curious, so I'll wander off to check my numbers since I haven't done it in a while. We have nowhere near $4M liquid and probably never will, but we have a big chunk of RE and valuations are insane these days, so our TNW tips the scale. Crazy.

Not that you were asking me, but one nice thing about continuing to work (at my own discretion) is that I see value in what I do because I get paid so handsomely to do it, even if the number is irrelevant.  It's a bit like a pro athlete or movie star - it doesn't matter what the ridiculous number is, as long as it's high enough to distract me from the fact that I don't need it!  In a capitalist system, it means that I'm better at what I do than pretty much all of the other folks that want that money.  When income and spending are no longer 'issues', it's nice to still have this feeling of being the one guy that is worth paying ridiculous dollars for his butt to seated in their chair.  Maybe it's superficial, but it works for me.  Especially since I enjoy my work anyways and would do it just for the benefits like taking care of all of the healthcare and retirement stuff.  Working does seem to make life easier those regards, although I'm sure I could navigate ACA and getting my pre-tax money shifted slowly in to post-tax if I were to ER.  Those endeavors don't excite me as much as my work does though. 

But wow, how about those stock markets!  I seriously need to start trying out more expensive hobbies.

Dicey

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Re: Train from $4M and beyond
« Reply #84 on: March 11, 2021, 12:48:19 PM »
I hit $4.5M NW and $3.5M LNW today, so I'm closer to joining this co. legit. Pretty awesome market for now (fingers crossed, sorry for all you youngins who want it to drop, I'm more about ups now).  Given I'm struggling on the job side of things right now the market is what I got.
Congratulation, but with numbers like that, why are you still doing anything that's called a j-o-b?

Now I'm curious, so I'll wander off to check my numbers since I haven't done it in a while. We have nowhere near $4M liquid and probably never will, but we have a big chunk of RE and valuations are insane these days, so our TNW tips the scale. Crazy.

Not that you were asking me, but one nice thing about continuing to work (at my own discretion) is that I see value in what I do because I get paid so handsomely to do it, even if the number is irrelevant.  It's a bit like a pro athlete or movie star - it doesn't matter what the ridiculous number is, as long as it's high enough to distract me from the fact that I don't need it!  In a capitalist system, it means that I'm better at what I do than pretty much all of the other folks that want that money.  When income and spending are no longer 'issues', it's nice to still have this feeling of being the one guy that is worth paying ridiculous dollars for his butt to seated in their chair.  Maybe it's superficial, but it works for me.  Especially since I enjoy my work anyways and would do it just for the benefits like taking care of all of the healthcare and retirement stuff.  Working does seem to make life easier those regards, although I'm sure I could navigate ACA and getting my pre-tax money shifted slowly in to post-tax if I were to ER.  Those endeavors don't excite me as much as my work does though. 

But wow, how about those stock markets!  I seriously need to start trying out more expensive hobbies.
That makes total sense. DH jokes that he has to go to work to relax. He also walks to his office, which is nice. During the pandemic he's been able to re-jigger what he does so he can work alone. He's a SWAMI. I, on the other hand, couldn't GTFO fast enough. It's been eight years, and I'm still loving every day that I don't have to do anything that is not optional. I still wish I could have done it sooner.

Okay, time to go pull up some balances. I'm loving the anticipation, though it won't make any significant difference...

Oh, and one more thing that does make me happy is that we've grown our cash reserves quite a bit in recent years. No matter what happens in the market, we won't have to touch any investments for quite a while, should things go to hell. DH will retire in the next year or two. (He will hit a big milestone this May, after that, he can go whenever he wants. Heck, he could go now, but you know, goals.) Ramping up the cash has been oddly comforting.

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Re: Train from $4M and beyond
« Reply #85 on: March 12, 2021, 03:57:05 AM »
I hit $4.5M NW and $3.5M LNW today, so I'm closer to joining this co. legit. Pretty awesome market for now (fingers crossed, sorry for all you youngins who want it to drop, I'm more about ups now).  Given I'm struggling on the job side of things right now the market is what I got.
Congratulation, but with numbers like that, why are you still doing anything that's called a j-o-b?

Now I'm curious, so I'll wander off to check my numbers since I haven't done it in a while. We have nowhere near $4M liquid and probably never will, but we have a big chunk of RE and valuations are insane these days, so our TNW tips the scale. Crazy.

Not that you were asking me, but one nice thing about continuing to work (at my own discretion) is that I see value in what I do because I get paid so handsomely to do it, even if the number is irrelevant.  It's a bit like a pro athlete or movie star - it doesn't matter what the ridiculous number is, as long as it's high enough to distract me from the fact that I don't need it!  In a capitalist system, it means that I'm better at what I do than pretty much all of the other folks that want that money.  When income and spending are no longer 'issues', it's nice to still have this feeling of being the one guy that is worth paying ridiculous dollars for his butt to seated in their chair.  Maybe it's superficial, but it works for me.  Especially since I enjoy my work anyways and would do it just for the benefits like taking care of all of the healthcare and retirement stuff.  Working does seem to make life easier those regards, although I'm sure I could navigate ACA and getting my pre-tax money shifted slowly in to post-tax if I were to ER.  Those endeavors don't excite me as much as my work does though. 

But wow, how about those stock markets!  I seriously need to start trying out more expensive hobbies.
That makes total sense. DH jokes that he has to go to work to relax. He also walks to his office, which is nice. During the pandemic he's been able to re-jigger what he does so he can work alone. He's a SWAMI. I, on the other hand, couldn't GTFO fast enough. It's been eight years, and I'm still loving every day that I don't have to do anything that is not optional. I still wish I could have done it sooner.

Okay, time to go pull up some balances. I'm loving the anticipation, though it won't make any significant difference...

Oh, and one more thing that does make me happy is that we've grown our cash reserves quite a bit in recent years. No matter what happens in the market, we won't have to touch any investments for quite a while, should things go to hell. DH will retire in the next year or two. (He will hit a big milestone this May, after that, he can go whenever he wants. Heck, he could go now, but you know, goals.) Ramping up the cash has been oddly comforting.

Heh, re: still working the job for me its seeing out an obligation I personally feel (very long story), and its only half-time, always from home and not much longer so I'd rather do it in a way I can feel good about it, doesn't stop me from whining though, I thought that's what forums were for ;-)  And though I certainly have more than 'enough', unlike a lot of folks on this site I seem to find plenty of things to do with the 'extra' money...

And yes, one thing this extra income well beyond my original FIRE number has allowed for is a big cash cushion I wanted.  I basically have about 6 years worth of cash, half of which I plan to spend down my first 3 years of RE, and the other half I'll use for spending during the first huge market drop(s) after that. 

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Re: Train from $4M and beyond
« Reply #86 on: March 12, 2021, 12:38:04 PM »
I want a minimum of $100K a year of income.   So great, I set a goal of a 4 percent withdrawal on 2.5M.  Easy.  When did I reach 2.5M?  In the middle of the pandemic.  I started thinking it wasn't a great time to leave my great paying job with benefits.  Then yes, I started considering taxes.  Also the potential for increased health care costs in the future.  With the booming housing market, property tax increases could be coming our way.  We bought our home we plan to retire in as a diamond in the rough.  We only paid $237K for a really nice place.   It would appraise now for $400K with ease.  Eventually the tax accessor will take note of that increase and raise our taxes.  It's a big house 4000 square feet.  We will eventually need help doing maintenance as we age.  If we get social security in 15 years or so, that may offset some of our senior expenses.   Best to plan on the front end.  The current goal is 3.25M to 3.5M. So at least another 500K till we rest.  We shouldn't have a problem coasting to 4M in coming years.  Time will tell.  839 days till retirement, I made the decision to go longer with 1077 days.  Hard to believe how quickly that time passed.

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Re: Train from $4M and beyond
« Reply #87 on: July 26, 2021, 08:00:35 AM »
I'm curious at what net worth did you start to buy business/first class tickets for personal travel (not using points), or private charters?

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Re: Train from $4M and beyond
« Reply #88 on: July 26, 2021, 03:14:11 PM »
Re: First class I'm at $4.7M and haven't done it yet.

Maybe I'm just not good at searching but it seems like First class costs like 5x a coach ticket (so a $250 flight is more like $1250, and a $1k international flight more like $5k).  Given the few times I fly I'm generally taking my whole family of 5 it would add up in a hurry. 

And in the end there's just not much incentive, I don't find it that much better (I've flown first class for business a few times, either my flights are on time or they are not, its worth maybe $100 more, not thousands), and though I think my wife would find it better there's no way she would want to spend that much more (it would just be the 'gross' factor for her, as in its gross to spend that much more for a ticket as opposed to giving that money away or using it more wisely)
« Last Edit: July 26, 2021, 03:16:25 PM by Much Fishing to Do »

EscapeVelocity2020

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Re: Train from $4M and beyond
« Reply #89 on: July 26, 2021, 10:54:12 PM »
If you fly enough for business, they'll bump you up to either business or first class as long as you buy an 'upgradable' ticket and request an upgrade.  Not sure I'd ever pay for first class, but I'd be tempted to pay for business class on overseas flights now.  It would ultimately depend on how many tickets I'm buying (family of 4 might be a deal breaker), the carrier, how long my vacation is, and how long the flight is.  I'll be increasingly tempted as I get older.  My Dad is in his 70's and has bought round the world business class trips a few times, it is more affordable than you might think...  It really does make the end of the vacation less of a bummer :)

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Re: Train from $4M and beyond
« Reply #90 on: July 27, 2021, 07:34:43 AM »
Recently while having dinner with friends the topic of airfare came up and they told us about a French airline, La Compagnie, that specializes in business-class only flights from Newark to Paris from $2000 R/T.  Each of their planes has been converted with 74 lie-down business class seats.  They mentioned concierge service, no waiting lines, red carpet, restaurant-quality meals, etc.  They said that it was a wonderful experience & instead of being tired and stressed after the flight they felt relaxed and ready to enjoy their trip.




Another travel tip I read on another forum was that cruise lines often offer discounted business class flights connecting to or returning from their cruises.  That's something to remember when planning a cruise.


Here's a link to La Compagnie: [size=78%]https://lacompagnie.com/en/about/difference/[/size]

EscapeVelocity2020

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Re: Train from $4M and beyond
« Reply #91 on: July 27, 2021, 08:44:08 AM »
Adding on to what Green Eggs is saying, Emirates includes transport to the airport and also to your hotel on the arriving end with business class.  There is also a whole departure area dedicated to checking in and relaxing before the flight in the Dubai airport.  Little perks like that help.  I don't think American carriers have anything like that, but the Middle East really gives you the royal treatment if you fly business or first class.  I flew first class on an A380 and I remember the flights more than the destination!  Being able to have a shower before you land is a nice experience!  I would've stayed on that flight twice as long happily, and I felt great when I got to my hotel - ready to go!  I think the ticket cost $20k if you buy one outright, so I guess that's still a little rich for my blood, but it's a wonderful experience to do it once (or twice)...  It's amazing the people you meet at the bar too.

Casey Neistat did a video on it - https://www.youtube.com/watch?v=84WIaK3bl_s but it really doesn't do the experience justice.  For example, the food and service is incredible.  After my shower, I used the plush Emirates bathrobe to chill out for a bit, the bathroom was huge!  Yeah, I'd definitely like to do that again.

Charter jets are another ridiculous luxury.  The biggest plus there is a dedicated departure lounge and ability to schedule your flight.  I have flown on helicopters out of these airports for business, but not flown on a charter, but I'm not as eager for that experience, other than to say I've done it at some point. 

Dicey

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Re: Train from $4M and beyond
« Reply #92 on: July 27, 2021, 11:01:07 AM »
Recently while having dinner with friends the topic of airfare came up and they told us about a French airline, La Compagnie, that specializes in business-class only flights from Newark to Paris from $2000 R/T.  Each of their planes has been converted with 74 lie-down business class seats.  They mentioned concierge service, no waiting lines, red carpet, restaurant-quality meals, etc.  They said that it was a wonderful experience & instead of being tired and stressed after the flight they felt relaxed and ready to enjoy their trip.

Another travel tip I read on another forum was that cruise lines often offer discounted business class flights connecting to or returning from their cruises.  That's something to remember when planning a cruise.

Here's a link to La Compagnie: [size=78%]https://lacompagnie.com/en/about/difference/[/size]
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Re: Train from $4M and beyond
« Reply #93 on: July 27, 2021, 02:14:51 PM »
I have been upgraded to (domestic) first class and international business class a few times, based on my frequent-flyer status, no miles were needed. I would never pay for a domestic first class seat with my money, it is just a wider seat with a $10 drink. I would not pay for an international business class seat at this age (57). If I am older, I may not want to travel that long and far away again.

I don't mind if someone else is willing to ay for the seats.