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Don't Waste the Good Days

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Re: Don't Waste the Good Days

#171

Post by thelittleone »

onlyrealcuzzo wrote: post #161
passerby1 wrote: post #124

Earlier quoted context omitted.

Do you need to actually pay/invest or just show that you own your 70k?

https://visaagencybali.com/visa/investor-visa/ You need to invest in a company - but IIUC you could just buy ~$70k shares of Indonesia Telecom (i.e.), live there for 3 years, collect dividends, and then cash out when you're done. Under normal conditions, I wouldn't want to invest ~$70k in some Indonesian large cap I know nothing about. But if I wanted to live in Bali for a year, this is a pretty easy way to do it...

Very, very few people pay such an amount yet stay many years legally. There's some "fluidity" in the system.

Re: Don't Waste the Good Days

#172

Post by emodendroket »

01100011 wrote: post #170
ryandrake wrote: post #41

I feel like there is wisdom in "Make hay while the sun shines." When you're young and unencumbered by responsibility and family, when your cognitive abilities are at their peak, when your energy is endless, when your body is strong and healthy, when your knees work, and your fingers can type without arthritis: that's the optimal time to work and earn. Min-max that salary and stay healthy. Due to compounding interest,…

It's tough... at 47 I'm old enough to have felt the decades past turn into a scant handful of memories. When you're older, the past matters less. The now matters more. Not being able to pay for good health care matters. Not being able to eat what you want or take vacations matters. When you're old, you realize "Oh yeah, life goes on, long after the thrill of living is gone" and you have the now to worry about. But I…

But if you were in your 20s I doubt living solely for your retirement would be much fun to you either. Some balance is necessary here.

Re: Don't Waste the Good Days

#173

Post by MrGilbert »

ryandrake wrote: post #41

I feel like there is wisdom in "Make hay while the sun shines." When you're young and unencumbered by responsibility and family, when your cognitive abilities are at their peak, when your energy is endless, when your body is strong and healthy, when your knees work, and your fingers can type without arthritis: that's the optimal time to work and earn. Min-max that salary and stay healthy. Due to compounding interest,…

Yeah, but sometimes… Life hits hard and you‘ll miss out on these days.

When I turned 22 in 2008, my mom surprised me with her having sarcoidosis, a disease which will turn functional cells into non-functional ones. Quite an issue when it starts in your lungs. A year later, my father surprised me with him having cancer.

Long story short, they passed away in 2013 and 2017. I should also mention that I have four younger siblings. I raised my little sister until the beginning of 2020, when she turned 18. And then, the pandemic hit.

Now, I‘m ready for everything I missed in my mid-twenties. Party like there is no tomorrow, make stupid mistakes and f*ck around (literally and metaphorically).

Yet that means I‘ll be unable to live a „normal“ life by our societie's standards, because I already should have wife and kids by the age of 35…

Re: Don't Waste the Good Days

#174

Post by emodendroket »

bathtub365 wrote: post #66
derekp7 wrote: post #56

Earlier quoted context omitted.

The truth is, no matter what path you take in life, you can find yourself wishing that you took a different path.

I saw this posted elsewhere on HN and it really resonated with me. “I saw my life branching out before me like the green fig tree in the story. From the tip of every branch, like a fat purple fig, a wonderful future beckoned and winked. One fig was a husband and a happy home and children, and another fig was a famous poet and another fig was a brilliant professor, and another fig was Ee Gee, the amazing editor, and a…

What a great metaphor.

Re: Don't Waste the Good Days

#175

Post by emodendroket »

staticassertion wrote: post #165
nightowl_games wrote: post #51

Earlier quoted context omitted.

> I'd have played fewer video games, traveled less, and relaxed on the beach less. This seems totally opposite of what old people say on their death bed. You sound so obsessed with money here. My guess is your probably very wealthy relative to the average peer and your too naive to realize it. You have to keep telling yourself this philosophy to justify not wind surfing in Bali. You think your gonna wind surf when yo…

Lots of people I know in a generation or two above me regret not saving when they were younger. Now they're nervous about being 70 and having to retire soon but not feeling stable, or feeling that they may financially burden their children. Compounding interest on money means, as previously mentioned, money you earn at 20 will be 10x as valuable compared to money earned towards a typical retirement age. With tech hav…

If you retire when you're 40 don't you basically have to live in mortal fear of serious illness for the rest of your life?

Re: Don't Waste the Good Days

#176

Post by emodendroket »

shostack wrote: post #156
nightowl_games wrote: post #51

Earlier quoted context omitted.

> I'd have played fewer video games, traveled less, and relaxed on the beach less. This seems totally opposite of what old people say on their death bed. You sound so obsessed with money here. My guess is your probably very wealthy relative to the average peer and your too naive to realize it. You have to keep telling yourself this philosophy to justify not wind surfing in Bali. You think your gonna wind surf when yo…

It is important to realize in America at least, retirement seems a bit further out of reach to younger generations. So this may be really important advice for those entering what may well be the peak of an unprecedented bull market that padded the accounts of those retiring or retired, but that may not have done anything for someone young under or unemployed. So maximizing income seems like pretty good advice right n…

If you are in software there is no reason you shouldn't be able to retire.

Re: Don't Waste the Good Days

#177

Post by emodendroket »

Jack000 wrote: post #90
ryandrake wrote: post #41

I feel like there is wisdom in "Make hay while the sun shines." When you're young and unencumbered by responsibility and family, when your cognitive abilities are at their peak, when your energy is endless, when your body is strong and healthy, when your knees work, and your fingers can type without arthritis: that's the optimal time to work and earn. Min-max that salary and stay healthy. Due to compounding interest,…

Life is long for most, but statistically there's about a 5% chance you'll die before 50, it's better to hedge your bets imo. Also, wind surfing in Ibiza doesn't sound that fun at 60. I worked as a software dev for a large company for 3 years and it was a complete waste in retrospect. I now make much more money and curse every second I spent in that cubicle. The corporate ladder is a low-risk low-reward path that's ge…

I feel like the big tech corp life has a lot to offer but I had to grind it out for 7 years at small and mid-size companies first. I sense people who go straight into it from school don't appreciate it as much.

Re: Don't Waste the Good Days

#178

Post by [deleted] »

chii wrote: post #83
tayo42 wrote: post #69

Earlier quoted context omitted.

every post here in this post is triggering an existential crisis for me. oh what to do...

It pays to understand oneself. Why do people want _every_ fig on the tree? It's because of greed, and desire. If yo can imagine yourself be satisfied with obtaining just one of those figs, instead of only being satisfied from having it all, you'd have a much better time alive. It's the same root philosophy as finishing one project to completion, rather than start many but never finishing it to the end.

[deleted]

Re: Don't Waste the Good Days

#179

Post by cercatrova »

captainmuon wrote: post #166
ryandrake wrote: post #41

I feel like there is wisdom in "Make hay while the sun shines." When you're young and unencumbered by responsibility and family, when your cognitive abilities are at their peak, when your energy is endless, when your body is strong and healthy, when your knees work, and your fingers can type without arthritis: that's the optimal time to work and earn. Min-max that salary and stay healthy. Due to compounding interest,…

> compounding interest You are lucky if you can take advantage of compounding interest. A dollar you spend on food in your 20s is just as valuable as a dollar you spend on food in your 60s. Also, interest rates are lower than inflation in many cases. I have a good job and a bit of money invested (about a new cars worth maybe) but there is no chance that I can become "wealthy" or retire early just by saving.

By compounding interest they don't mean bank interest rates, they mean that the US economy averages about 7% real gains every year when taking historical data back from the 1800s to now. Check out some financial independence calculators [0], you are pretty likely to retire early as long as you invest your money into the US stock market.

[0] https://engaging-data.com/fire-calculator

Re: Don't Waste the Good Days

#180

Post by okhobb »

shostack wrote: post #156
nightowl_games wrote: post #51

Earlier quoted context omitted.

> I'd have played fewer video games, traveled less, and relaxed on the beach less. This seems totally opposite of what old people say on their death bed. You sound so obsessed with money here. My guess is your probably very wealthy relative to the average peer and your too naive to realize it. You have to keep telling yourself this philosophy to justify not wind surfing in Bali. You think your gonna wind surf when yo…

It is important to realize in America at least, retirement seems a bit further out of reach to younger generations. So this may be really important advice for those entering what may well be the peak of an unprecedented bull market that padded the accounts of those retiring or retired, but that may not have done anything for someone young under or unemployed. So maximizing income seems like pretty good advice right n…

You can even hold more than one concurrently I hear!
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