Post: #151

I actually just did a back of the envelope calc, and I know this isn't completely right with a progressive tax system, income phaseouts, deductions etc., but you could pay something close to 68% tax if you live in NYC. If you were self employed ACTIVELY and lived in the city and brought home some serious bacon. I like the two week vacation idea suggested earlier, but I think ridiculous places like this are out of the question. Your dollar would go 3x as far in an area with equal COL but no taxes, and even farther in a place with a lower COL. Take Prague, which is 3x cheaper according to expatistan...3x3=NINE TIMES CHEAPER. And I hear Prague is pretty sweet. I imagine it's better than living in a horse trailer in a field in North Dakota, and I'm pretty happy here.

Post: #152

(12-26-2014 01:29 AM)Fisto Wrote:  Some of you guys are acting like complete bitches. This guy has clarified multiple times certain things and some of you continue to misstate what was said. Some of you are making stupid assumptions on top of misstating things.

A guy thats worked since 15 and has a 50k a year job will have good credit.

A guy thats never been anywhere will have questions about passive income needed around the world.

A guy that admits he seemed to get lucky with his campaign will also be willing to buy a bunch of real estate if he has the cash and is on a lucky streak. That move still may not pan out.

Some of you like that krt40 fag are just as ignorant about rent in top tier cities as you're claiming killface is.

You can get a damn nice apartment in west hollywood for around 2k.

You can get a damn nice place in most cities for 2k.

This guy admits he hasn't been around much and was guessing, which was also the purpose of his thread, to get an idea of how much he needs.

Its downright infuriating to read some of your remarks that smack of snarky bitchlike writing!

VVV you and antitrace (a guy who wrote about having a party bus and being a "celebrity" god dont make me laugh) are two guys that haven't contributed anything meaningful to this forum EVER and youre acting as if you're some established members that he needs to prove himself to.

This guy has gone out of his way to prove himself, has not given in to returning the shitty attitudes many of you are giving, and is willing to write about what he knows.

Nothing this guy has done is even close to impossible.

Some of you are crying about the real estate venture, well he never claimed to be an expert, he claimed he followed the advice on biggerpockets and that is in line with his story. It could end up a total blunder.

For fucks sake show some courtesy.

He's sent documents and been reasonable. Some of you assume that his whole story is bs because he's shown ignorance in certain areas but that's been the point of his thread, to clarify what he's working for.

I'll also remind you guys that I had zero experience in the oilfield and landed an MWD job and that was because I kicked the shit out of the guy who hired me in an MMA gym of all places. That's more unlikely than having a degree and showing aptitude in an interview.

First, thanks for the effort in vetting.

Second, I don't see why the skepticism is unwarranted. In this post Little Dark world, you'd think someone who has been lurking on the forum for a year would know how to not come in here guns blazing. There were a lot of unanswered questions from the first post that were left out until quite recently.

If there was a prime example on how not to deliver hot information as a new member this is it!

A simple, "Hey gents, long time poster here's some interesting info I have from my own hustle..." would have sufficed.

Instead, the attitude from the post reeks of big baller. Now I know guys that have been hustling a long time wear their ego drives on their sleeves but a good lesson, something that took me of all people some time to figure out, is to not walk into a room (or post on a forum) with a god complex. It's the easiest way to get laughed out of the room even if your ideas and experiences are golden.

Killface, i'm looking forward to the full data sheet. You'll instantly get mad rep points from everyone here when you do. I want to believe!

Post: #153

(12-26-2014 02:59 PM)DVY Wrote:  I am hugely suspicious about this new guy BUT assuming hes telling the truth

Singe sucessful lifestyle in most major metropolitan cities (LA, SF, Chicago, SB, SD)- 150-200k/year. Pre-tax. Considering you have lots of real estate, your income will be mostly tax-shielded by deprecation and amortization write-offs. This works out to be about 8-10k/month clean. This is more than enough to have a sustainable life in those cities and have a cushion for unexpected events. You will be able to drive a nice car, live in nice digs, eat top-end food, and pop bottles once in a while.

NY is probably 50% more (speculating mostly).

Super expensive metropolitan areas like Tokyo will be about the same as major metropolitan cities

South East Asia will be about 8k/month (or 5k clean).

IF you are minimalist and don't mind living sparsely, these expenses can probably be cut in half. At the end of the day, where you live and how you want to live will have the biggest correlation on spending

Check out this website for a start. http://www.numbeo.com/cost-of-living/

Funny how the average NYER and even family spends less. I calculated my expenses at under 3k a month. If one avoids 3k apts they don't need much to live in NYC. And someone in Manhattan would probably not need a car.It is all relative ,for the game guys who don't want to spend a dime on women I suspect they need less money.

The guy with the 3-4k apt is lucky if he brings home 1 girl a week and the guy who pays 1100 in Bay ridge is lucky if he brings home 1 girl a week.The xtra mullah probably doesn't change ones bang rate significantly.

If it does, than one has to calculate the opportunity costs of not living dapper.

Example is spending 2k more a month on gaming props (logistical apt,etc) worth it if it brings in 1-2 lays more a month?

Only if someone thinks banging 1 girl is worth 1k. Since hookers who look better cost less..chances are on the Greek Kamaki scale it isn't worth it!

Post: #154

(12-25-2014 09:24 AM)Onto Wrote:  What bothers me are the real estate claims. I would like to see a simple breakdown of his real estate investments.

1). Purchase price, work needed
2). Rent roll
3). Expenses

The claim of $3,000 max property tax on $250k property has me scratching my head. Still waiting for the address of a current listing in the area of the US where this can be had. Should be easy to go on the MLS site or Zillow and provide one.

Maybe he bought properties of $15,000 cash, but have you ever seen a $15k property? They ain't pretty and neither are the neighborhoods.

Everyone is looking for financial freedom, and real estate can help with that but I hate to see people getting sold an illusion that it's easy. From picking the right properties to managing them well takes skill and luck.

Depends on the city. My good home in Vegas had 800 tax bill. The rate was about 1% of price.
NYS has high taxes but NYC has cheap property taxes. I think a 500k home will be between 3-4 in taxes. Some are less because of size and tax abatements. It isn't one size fits all.

Post: #155

(12-23-2014 12:01 AM)Killface Wrote:  Brodiaga, I disagree. Go to bogleheads or one of those finance forums and all the brainwashed "slow laners" will have you socking away 10% in a 401k of index funds. This is not the way to real wealth. The real way is leveraged assets and minimizing expenses.

Some of the best bodybuilding/ health advice I got was from this forum. Should I have consulted webmd instead, or maybe the government, and eaten my 12 servings of pasta per day while avoiding fat and protein?

I don't know if you guys realize how great this forum is for advice in a wide variety of subjects, since people are not afraid to call bullshit and go against convention

Actually index funds are the way to go for slow and steady. Little risk long term and no work involved.

My index fund made 300k last year. No capital gain taxes on it. This year I think i making about 140k..still good.

That isn't including another 40k in CD interest.

Index funds made me a millionaire! (sure there was other investments but that included risk and work..thus not as passive as I would like)

Quote:You say you haven't done any international traveling after saying you did mind expanding traveling. I guess only in Canada then if your in the oil patch? Where else? BC? Montreal? The Arctic

I guess seeing how fat girls eat big macs in Iowa as oppose to Denver, as oppose to Miami is a mind expanding experience , or a stomach expanding one. It properly contributed to his weight lost out of disgust.

Guys stop the hate...Disney world is known to expand minds and the tornado exhibit at universal is mind blowing.

@Frenchie..I am available for argument to change the monotony. Less filling or tastes great?

Quote:If there was a prime example on how not to deliver hot information as a new member this is it!

Imagine how it would sound if he was delivering an end of the world speech.

Post: #156

frenchie - I'm all for skepticism. I'm skeptical myself but this guy has repeatedly corrected assumptions and misstatements and they keep coming up and on top of it all some guys are being snarky and bitchy.

At the end of the day the only thing Killface wanted was info on passive income and he got jumped all over for the vague information he let about himself.

Which actually makes perfect sense.

If I'm wanting to know about cars I'm going to write a little general info about myself to give some background, what my budget is and what I'm hoping it could be. If the forum helped me in other areas I'd say yeah and I followed this or that advice. Then thanks guys.

What I think should have happened is some polite and direct questions to verify certain things. Killface probably doesn't consider some of the things he did or the luck that happened or both to be THAT extraordinary since he's still living in a winnebago in a shit hole that no man would willingly ever go unless he had some great reason to be there.

Even with the snarky and shitty remarks the guy has been polite and understanding of how he came off. I think this deserves a little credit and I think we should at least wait to read what he has to say about his areas of expertise.

That's what this forum is about.

As much as I know about one thing, I also know there are areas that I'm terribly deficient in. Does me not knowing about crafting a blog post very well mean I don't know the topic I'm writing about? I don't think so.

That's all I'm saying.

VVV and Antitrace, I apologize about the harsh words. Both of you always deliver thoughtful posts.

edit - back on topic. I need to get my ass to Prague.

Post: #157

I want to make something else clear here, I am skeptical, but I want to hear what Killface has to say with his data sheets .

Once that's done our resident experts will know if he's on the level or not. He could be a great asset to the forum or he could be a troll or worse.

Post: #158

(12-26-2014 07:32 PM)Fisto Wrote:  frenchie - I'm all for skepticism. I'm skeptical myself but this guy has repeatedly corrected assumptions and misstatements and they keep coming up and on top of it all some guys are being snarky and bitchy.

At the end of the day the only thing Killface wanted was info on passive income and he got jumped all over for the vague information he let about himself.

Which actually makes perfect sense.

I thought more about it and Kill's vaugeness make sense. I am purposely vague on here all the time because I don't really want me identity compromised. I can completely understand why someone would be vague and also why they wouldn't dish out business or investment stats right off the bat.


I should at least offer my opinion. And that is mainly this: you could quit working right now and be homeless and live in the woods. No passive income required. You could grind out decades of hard work to enjoy baller status late in life. The point is not figuring out what your bank account figure needs to be like, the point is to figure out what makes you happy. Once you know that, then you can back plan and get a estimated dollar figure of what you want. You have to find what you value the most.

I could quit work forever at even a modest 50k passive. One of the best times of my life was when I was unemployed and had nothing to do and no one to answer to for almost a year. Between side jobs and unemployment checks, I was making around 30-35k a year and stayed in the black for the most part even when I was drinking and partying a lot. I dipped into some savings, but those were mainly for large random purchases that were not necessary whatsoever.

All my friends were jealous of my lifestyle. All these hard working men and women with great jobs, were jealous of my unemployed, sleeping in till noon ass.

That's when I truly understood the meaning of "money doesn't buy happiness". It truly doesn't. I've had a 6 figure salary before, and was miserable. I was unemployment, and loved every day of my life. It made me understand what I value. I valued my freedom not my possessions.

Smaller US city, going out a few nights a week, doing your own thing the rest of the time. A good length trip or two a year. 60-70k passive and you would be very comfortable. The same could offer a luxurious lifestyle in many parts of the world, small time baller in some.


so 150k passive seems ludicrous to me. There is simply no need for that much money. If you have it that's awesome, I sure as hell wouldnt turn down a 150k check, but there's no need to keep grinding out the frugal hard working lifestyle to get there. You can grind that out working on a business once your out of the rate race.

I would be happy with 50k after taxes. I had a blast when I wasn't working and still pulling in around 35k, so 50k completely passive and I'm not working another day. Lets also be real about one thing, most of us are never going to quit working. Even if I was "retired" with 50k(or whatever amount) passive, I would still be learning new skills and working side hustles.

50k is actually my target passive income goal. A little over 4k a month plenty of cash for 95% of the world.

Post: #159

(12-26-2014 10:41 PM)AntiTrace Wrote:  I could quit work forever at even a modest 50k passive. One of the best times of my life was when I was unemployed and had nothing to do and no one to answer to for almost a year. Between side jobs and unemployment checks, I was making around 30-35k a year and stayed in the black for the most part even when I was drinking and partying a lot. I dipped into some savings, but those were mainly for large random purchases that were not necessary whatsoever.
...
Smaller US city, going out a few nights a week, doing your own thing the rest of the time. A good length trip or two a year. 60-70k passive and you would be very comfortable. The same could offer a luxurious lifestyle in many parts of the world, small time baller in some.

I think there's passive income that is high risk or not very passive which is what I'd consider Killface's real estate, even if he's not that leveraged. This is because real estate is an iliquid non-diversified asset. Yes he has many units but they are all in the same area/city, they will move together in price/income.

There's also other business income that is somewhat passive. You could argue being a landlord is also a business, but most people would think websites or other businesses where income and labor aren't directly tied, probably like what Roosh has going on. This would be my ideal and I've had this type of income go up and down in my life but it isn't truly passive and it does require labor. The biggest appeal of it to me is that it is location independent and you can usually scale up and down the effort you put in allowing a ton of lifestyle flexibility.

I saw this graphic today and I think it reflected my mentality a lot.



My goal is to move to the right of the line and stop working, or at least be close to the line with supplemental flexible income that wasn't tied to investments.

You said you wanted 50k a year. To live like that and never 'work' again, you need a bit more than 1 mil in assets. I'd feel a lot more comfortable with a bit more upscale lifestyle and I imagine my freedom line is closer to 2-3 mil, affording a lifestyle closer to 80-120k a year without work.

Where you choose to live has a huge impact on where your line is. Unless you get filthy rich or truly love what you do, I think stopping hard work earlier and moving to a lower cost of living area makes the most sense.

Post: #160

I like that you brought up the risk factor with different investments and its regard to "passive" income.

I've always made my calculations based of 3% interest. Very conservative, which is want I want for my lifetime of passive income. To get your 80kish level, your right in that mid 2mil range your looking at. 150k passive requires 5mil invested at that 3% interest.

That's extremely conservative. With just some basic investment knowledge and a little bit of monitoring you can still go up to 5-6% pretty safely. At 5% your 80k income requires only 1.6 mil. Now lets say you can build a small side hustle that brings in a meager 1k a month. Now you only need 68k passive (80k - 12k side hustle), and thats 1.36 mil. It's fun to play around with different numbers.

A few mil isn't that difficult. I'm not saying I have a few mil in my pocket, but 2-3 mil is definitely attainable by an entrepreneur or a good job with a good savings and investment plan.

Post: #161

(12-26-2014 07:32 PM)Fisto Wrote:  frenchie - I'm all for skepticism. I'm skeptical myself but this guy has repeatedly corrected assumptions and misstatements and they keep coming up and on top of it all some guys are being snarky and bitchy.

At the end of the day the only thing Killface wanted was info on passive income and he got jumped all over for the vague information he let about himself.

Which actually makes perfect sense.

If I'm wanting to know about cars I'm going to write a little general info about myself to give some background, what my budget is and what I'm hoping it could be. If the forum helped me in other areas I'd say yeah and I followed this or that advice. Then thanks guys.

What I think should have happened is some polite and direct questions to verify certain things. Killface probably doesn't consider some of the things he did or the luck that happened or both to be THAT extraordinary since he's still living in a winnebago in a shit hole that no man would willingly ever go unless he had some great reason to be there.

Even with the snarky and shitty remarks the guy has been polite and understanding of how he came off. I think this deserves a little credit and I think we should at least wait to read what he has to say about his areas of expertise.

That's what this forum is about.

As much as I know about one thing, I also know there are areas that I'm terribly deficient in. Does me not knowing about crafting a blog post very well mean I don't know the topic I'm writing about? I don't think so.

That's all I'm saying.

VVV and Antitrace, I apologize about the harsh words. Both of you always deliver thoughtful posts.

edit - back on topic. I need to get my ass to Prague.

You know Fisto, you're right. In the spirit of the forum, I took a re-read of his original post and this entire thread. I got more caught up in the potential for a Little Dark round two

His life details are all over the place hence my continued skepticism. I'm vague too, but somewhat consistent in my vagueness after 2000 odd posts. Just like yourself.

(12-25-2014 12:01 PM)Killface Wrote:  Guys I will get to the questions later, they are good ones.

One thing I want to address right now: money from parents. The main family breadwinner died 12 years ago spontaneously and had us going into debt to afford a decent headstone and burial. No life insurance or savings. This was the main, driving motivation to not work for 30 years and have absolutely nothing to show for it. It's also why I don't plan on having a wife and kids...they supported all of us and it was just too much to bear. Health suffered and eventually led to death. I put myself through college and grad school, and when I asked the surviving parent, years later, for $100 because I was short for closing on my first house, they refused and I had about 24 hours to call random buddies and perform yard work / whatever to come up with it. So, don't go there.

Also it's very simple to have this kind of credit...I knew ahead of time I would one day need credit so I walked into the bank and got two credit cards the day I was eligible (18?). I was also foolish and had a car loan for a bit while young. And a student loan. So I had a credit history, I have never missed a payment in my entire life, and I had a shitty but "respectable" job to drive the debt to income ratio. If you are in your late 20s and are getting turned down for a $1000 credit card, you aren't trying hard enough or you failed to prepare or you have past credit issues like most of my friends who thought it would be funny to go buy shoes and crap and then not pay. I hate to make assumptions but that seems even less likely than MY story

The point I should have added was when I first tried to get a credit card the only credit at 18 I could get back in 2008 was a shitty 500-1000$ secured line of credit. Once graduated and making a salary, the avenues for credit opened up to me.

At this point, I don't have a problem gaining any line of credit since I managed to snag a very flexible office job that lets me work remote whenever I want while not having to work 23 hours out of the day, not have to sleep on the job, and live in a comfortable apartment instead of a winnebago worrying about whether or not my "camping" spot would get me towed. Respect for your minimalistic lifestyle, but i'm a prima donna. I like my high ceilings and indoor plumbing.

Post the RE datasheet, get vetted, you'll get the rep, and people will eat their posts (myself included). Congrats on hitting the lottery with the affiliate marketing. Would love a data sheet on the code that worked for you.

(12-25-2014 12:01 PM)Killface Wrote:  @Frenchie..I am available for argument to change the monotony. Less filling or tastes great?

Dad is that you?

Post: #162

That's the only time I've ever had to sleep on the job, and I had no qualms about it since it was a throwaway $9/hr gig anyway.

To each their own...I can understand why the RV life is not for most people. Personally, I've never been happier. I can trace the times I was most miserable in direct correlation to the quality/quantity of material possessions I had. I also value being mobile, because then I don't miss out on things. I am missing out on a lot with this oilfield job, but it won't always be this way.

What industry is this remote job in? I have been interested in that type of thing for awhile but haven't found any that are more lucrative than those tutor.com $12/hr ones. Not really worth it IMO.

Post: #163

(12-26-2014 10:41 PM)AntiTrace Wrote:  

(12-26-2014 07:32 PM)Fisto Wrote:  frenchie - I'm all for skepticism. I'm skeptical myself but this guy has repeatedly corrected assumptions and misstatements and they keep coming up and on top of it all some guys are being snarky and bitchy.

At the end of the day the only thing Killface wanted was info on passive income and he got jumped all over for the vague information he let about himself.

Which actually makes perfect sense.

I thought more about it and Kill's vaugeness make sense. I am purposely vague on here all the time because I don't really want me identity compromised. I can completely understand why someone would be vague and also why they wouldn't dish out business or investment stats right off the bat.


I should at least offer my opinion. And that is mainly this: you could quit working right now and be homeless and live in the woods. No passive income required. You could grind out decades of hard work to enjoy baller status late in life. The point is not figuring out what your bank account figure needs to be like, the point is to figure out what makes you happy. Once you know that, then you can back plan and get a estimated dollar figure of what you want. You have to find what you value the most.

I could quit work forever at even a modest 50k passive. One of the best times of my life was when I was unemployed and had nothing to do and no one to answer to for almost a year. Between side jobs and unemployment checks, I was making around 30-35k a year and stayed in the black for the most part even when I was drinking and partying a lot. I dipped into some savings, but those were mainly for large random purchases that were not necessary whatsoever.

All my friends were jealous of my lifestyle. All these hard working men and women with great jobs, were jealous of my unemployed, sleeping in till noon ass.

That's when I truly understood the meaning of "money doesn't buy happiness". It truly doesn't. I've had a 6 figure salary before, and was miserable. I was unemployment, and loved every day of my life. It made me understand what I value. I valued my freedom not my possessions.

Smaller US city, going out a few nights a week, doing your own thing the rest of the time. A good length trip or two a year. 60-70k passive and you would be very comfortable. The same could offer a luxurious lifestyle in many parts of the world, small time baller in some.


so 150k passive seems ludicrous to me. There is simply no need for that much money. If you have it that's awesome, I sure as hell wouldnt turn down a 150k check, but there's no need to keep grinding out the frugal hard working lifestyle to get there. You can grind that out working on a business once your out of the rate race.

I would be happy with 50k after taxes. I had a blast when I wasn't working and still pulling in around 35k, so 50k completely passive and I'm not working another day. Lets also be real about one thing, most of us are never going to quit working. Even if I was "retired" with 50k(or whatever amount) passive, I would still be learning new skills and working side hustles.

50k is actually my target passive income goal. A little over 4k a month plenty of cash for 95% of the world.

This was a valuable post.

Right now the things that make me happy are travel, martial arts, hiking and seeing the national parks, books, and women. None of those really take much money unless you're shooting for plastic gold diggers.

I'm with you in that unemployment was one of the best times of my life.

The thing that worries me about 50k is, at that level I am not saving enough to be absolutely certain I can not work indefinitely. I like to maintain a 50% or so savings rate. With the crazy road the US is heading down, I would be kicking myself if I fucked around for a decade, lost everything, and had to start over in middle age.

You mentioned working on a business. It's funny because I actually don't consider myself a super entrepreneurial guy even though almost all of my lifetime earnings came from my entrepreneurial activities. At this point I would really not know where to start if I had to start a business, especially a brick and mortar one. Shitty office jobs did not give me any particularly unique skills that could be marketed.

Money does not buy happiness, but it buys freedom, and with freedom you can pursue happiness.

50k is the average US *household* income. I believe personal is 35k. So plenty of people do get by on that, but then again 99% of the population is dead broke. I don't think I would be satisfied with average, even given below average expenditures, above average investing savvy, and below average age. I am even sort of concerned that I am the type of person who pushes it and doesn't stop, but I don't know it. For instance, if after this oil gig I knock off some bucket list items, then what? Boredom might set in at some point and cause me to go balls to the wall making money again.

A remote, part-time gig might take some of the pressure off and allow for more years of work while doing cool shit simultaneously. Something like that would make the oil gig unnecessary. However, I am enjoying the adventure right now and plan to see it through.

Post: #164

(12-27-2014 05:40 AM)Killface Wrote:  For instance, if after this oil gig I knock off some bucket list items, then what? Boredom might set in at some point and cause me to go balls to the wall making money again.

A remote, part-time gig might take some of the pressure off and allow for more years of work while doing cool shit simultaneously. Something like that would make the oil gig unnecessary. However, I am enjoying the adventure right now and plan to see it through.

That's what happened to me in SEA. I got bored and missed working. Working gives you a sense of identity, and identity is a criteria for being. For feeling like a real person.

Post: #165

(12-27-2014 12:07 AM)AntiTrace Wrote:  I like that you brought up the risk factor with different investments and its regard to "passive" income.

I've always made my calculations based of 3% interest. Very conservative, which is want I want for my lifetime of passive income. To get your 80kish level, your right in that mid 2mil range your looking at. 150k passive requires 5mil invested at that 3% interest.

That's extremely conservative. With just some basic investment knowledge and a little bit of monitoring you can still go up to 5-6% pretty safely. At 5% your 80k income requires only 1.6 mil. Now lets say you can build a small side hustle that brings in a meager 1k a month. Now you only need 68k passive (80k - 12k side hustle), and thats 1.36 mil. It's fun to play around with different numbers.

A few mil isn't that difficult. I'm not saying I have a few mil in my pocket, but 2-3 mil is definitely attainable by an entrepreneur or a good job with a good savings and investment plan.

3% is excessively conservative. That's one of my pet peeves is when people do something like that and say "well what's the harm to be extra safe?" The harm lies in the fact you'll need to work 33% more to amass your nest egg, for no real benefit.

http://www.mrmoneymustache.com/2012/05/2...etirement/

Basically it says that 4% is the absolute min safe withdraw rate depending on the year you retire. Depending on timing, you actually could go as high as 8% and not go bust, and this includes the depression.



The Chart comes from something called the trinity study http://wpfau.blogspot.com/2012/02/trinit...ccess.html

And Kill face, if you're not familiar, I highly suggest mrmoneymoustache's blog. I don't take everything as gospel, but for someone who saves $1 on a towel by using old clothes, I'm sure you'll be able to relate to a lot of it.

Post: #166

Good call. I love that blog and have read every article. You can also use a tool at http://firecalc.com (no affiliation) to estimate the safe withdrawal rate. With such a massive time horizon though...50 or 60 years if I'm lucky...it basically turns into a butterfly effect scenario...so that's why I hope to still save 50% in retirement for unforseen problems.

Also yes I totally agree with your assessment of the 3% rate as being too conservative and the tradeoff being far too great. Also keep in mind those numbers are for a portfolio of stock and bond index funds, not high yield rentals or even notes. Notes, by the way, are truly passive and you index fund guys may want to take a look at them.

Haha I don't do the towel thing anymore...it was just while I was bootstrapping the affiliate business...but yes it did require significant sacrifices.

Post: #167

Yep my 3% is extremely conservative because I want to be safe reliable income. Blue chip dividen, money markets, CDs, etc.

Sure you can get higher with many different types of investments. RE would be a good one with a good property manager. Growth stocks could net you some very good gains as long as you were disciplines about it and didnt buy the hyped up ones.

Essentially saying that you want more money that way you can continue to save for unforeseen circumstances is the same as saying you want a lower risk investment.

Kill out of the interests and passions you listed, all of them could be done internationally. 150k is way more than you'll need to have an awesome time traveling and saving. You could live an awesome lifestyle on 75k, and bank the other 75k (which due to compounding interest increases your yearly income)There is really no need for more.

Post: #168

Was she preggers?

Post: #169

(12-26-2014 03:29 PM)Killface Wrote:  When I was a little kid I used to try to find ways to cheat at video games. I basically applied the same effort towards cheating at life. It paid off.

Isn't that what all our hustles are geared towards? Does this not describe exactly the 'alternative' lifestyle that we RVFrs embrace? That's going in my scrapbook of RVF motivational quotes.

Great quote and attitude, Killerface. Now drop some data bro! I'm especially interested in the oil job- companies don't just hire folks on 200k a year unless you have something they need that they can't get elsewhere cheaper. What did you have? Not a loaded question, I'm here to learn.

Post: #170

Sounds like a meet up is in order. I don't believe anything on the internet.

Post: #171

(12-27-2014 10:11 AM)AntiTrace Wrote:  Yep my 3% is extremely conservative because I want to be safe reliable income. Blue chip dividen, money markets, CDs, etc.

Sure you can get higher with many different types of investments. RE would be a good one with a good property manager. Growth stocks could net you some very good gains as long as you were disciplines about it and didnt buy the hyped up ones.

Essentially saying that you want more money that way you can continue to save for unforeseen circumstances is the same as saying you want a lower risk investment.

Kill out of the interests and passions you listed, all of them could be done internationally. 150k is way more than you'll need to have an awesome time traveling and saving. You could live an awesome lifestyle on 75k, and bank the other 75k (which due to compounding interest increases your yearly income)There is really no need for more.

Ok I agree...and since I am retired I cn't afford RISK.

So here is what I do.

1. I made most of my cash by timing the market with index mutual funds. No I didn't invest in hair brain lucrative but risky stock. I used simple Vanguard index funds.

I sold right before I knew the EVENT was happening. I didn't lose a dime when everyone else did because I cashed out and didn't pay any taxes since I had the funds for over a year.

2. Credit unions are your FRIEND! Being in NYC many credit unions available. Being Russian many available(usually highest rates). You guys should all join Penfed.
Anyway Credit union money market funds often pay the same as a 1-3 yr cd. Right now I have a union paying me 1.25. So I let the money earn and then:


3. things hit rock bottom I bought up the same index fund I sold lol..NOTHING complicated Nothing genius. So when they appreciated 100% in the next up cycle(2-3 yrs) I doubled my money. I was also working until 2010 and was still adding funds into my 457k...in index funds again.

4. In the last 21 yrs , I at least 3 times doubled my assets in a quick time period. That isn't including the yearly fund appreciation and the yearly max out of my 457k.

So my account of 250k turned to 500k. Then it turned to 1 million , then it turned to over 1.8 million. And I am expecting to get to 2.2 in the next 10 years by safe means at a min. maybe more. I never paid capital gains taxes on any of it since my income bracket exempted me.

Now I play it safe! Keep half or more of my funds in CDS paying between 3-4%, which beats inflation after taxes.

Other 800k plus (might be a million not sure because i have my 457k money separate from Vanguard, but the fund earns less) in index funds.

I think our stock market is overvalued and i expect 2-3 crashes every 10 years so i am being ultra conservative. I have made it so I am heavy in SECURE,SAFE gov't protected CDS and money markets( you can go pass 250k in the bank by having different ownership types btw).

This way even if we enter the worst crash that takes a long time to recover from it is only a paper loss. I can live on the cash+interest until my funds recover/adjust EVEN if it takes over a decade to do so.

But o f course if I get that spider tingle and predict coming doom..I am opening to taking it all out and reentering to buy it back at low cost and double up again. Might even pull out CD money to buy back ..so 1.5 mil will become 3 million on the upswing leaving me close to 4.5 + .

The only risk I take is the opportunity cost of NOT investing it more lucratively.

Anyone here could do the same thing I am doing..really. The only hard part is the timing so you sell without a loss and luck that the market correct itself! I think it will be very wavy in the future.

But there isn't any hustle involved.

My Vanguard pick today is: admiral whole market fund! (the one that includes sp 500 and totals about 3k companies)
Also had a bit in the similar international one.

tip: the hardest part was saving the 250k-300k. That is why you guys need to start early. I hustled that! Saving over half my income,working in war zones,etc. After that it was all basically done with the push of a few buttons and a few signed signatures.

Once you have a bit..it works for you! That is why the rich keep getting richer.

Also realize that you still gotta keep saving. Reason it doubled in a short period was also due to fact I kept throwing cash, new income into it.

Post: #172

^ that right there is basically my plan to get FU money. Like you said jim, it's not complicated and accessible to just about anyone.

Quote:I never paid capital gains taxes on any of it since my income bracket exempted me.

Wait what? Do you mind elaborating on that point?

Post: #173

What were some if the events you predicted and how did you do it?

Post: #174

Good point Antitrace, it's two sides of the same coin.

Roberto, mainly what I have is the ability to withstand the oilfield lifestyle. There is an unbelievable washout rate. If you have any sort of a life, don't even consider it. I plan on building my " life" later.

In other news:

http://www.torontolife.com/informer/feat...st-rich/3/

Any of you seen this article? It's old but topical. Lol @ the family with the hyphenated name...wonder who runs that show. They are saving like 1% or something silly while blowing $500 a month on wine, buying designer furniture, paying $30k a year for a babysitter etc.

They live in Toronto. One of the most expensive cities as well as one of the most negatively regarded here on RVF. These people are worker bees in Canada, so they get raped on taxes and probably have 120-140k disposable income. Now factor in the fact that I'm one dude instead of a family of four, and I could live a similarly idiotic, spendthrift lifestyle trying to impress other people and literally pooping out over $2000/month on 60-70k after tax. Since my income is real estate, that's basically 60-70k pretax as well.

So by this logic 150k = boats n hoes

Post: #175

(12-27-2014 05:19 AM)Killface Wrote:  That's the only time I've ever had to sleep on the job, and I had no qualms about it since it was a throwaway $9/hr gig anyway.

To each their own...I can understand why the RV life is not for most people. Personally, I've never been happier. I can trace the times I was most miserable in direct correlation to the quality/quantity of material possessions I had. I also value being mobile, because then I don't miss out on things. I am missing out on a lot with this oilfield job, but it won't always be this way.

What industry is this remote job in? I have been interested in that type of thing for awhile but haven't found any that are more lucrative than those tutor.com $12/hr ones. Not really worth it IMO.

Haha, totally agree on the RV life. Why don't you live in one of your buildings rent free? I'd at least like a place to throw stuff and forget about it.

It's actually a traditional office job in IT software development and support. I have a desk and occasionally go in every now and then when I want to make international phone calls. My boss is based in another town and so long as my work gets done I can show up whenever I please. I can work anywhere as long as I have a fast Internet pipe and cell service.

You'd be better off finding positions where your "team" is needed in multiple cities, working in an office to build up cred, and then taking a remote gig. What was your soulless office gig like? I'm surprised you weren't able to leverage that into something more.

What city are you based in? A more complete picture and story of who you are would make you a real life LittleDark

Ps, you got your first rep point. Post your datasheets. I would be sad to have to make it a neutral one.

(12-27-2014 03:27 PM)Peregrine Wrote:  ^ that right there is basically my plan to get FU money. Like you said jim, it's not complicated and accessible to just about anyone.

Quote:I never paid capital gains taxes on any of it since my income bracket exempted me.

Wait what? Do you mind elaborating on that point?

If your income is in the lowest tax bracket you effectively don't pay any capital gains tax.

It's why CEOs are only paid 1$ salaries so they not only avoid income, SS, and medicare they also avoid capital gains! It's a dirty loophole.

More info here http://perspective.schwab.com/mobile/art...-Whats-New