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I regret selling my startup

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Re: I regret selling my startup

#151

Post by com2kid »

unusualmonkey wrote: post #142
com2kid wrote: post #52

Earlier quoted context omitted.

We are talking early retirement here, so presumably young enough to still have a family. Daycare in my area is ~2400 a month (not the super fancy daycares either, they are over 3k a month). If you want to fully fund a 529 college fund, that is 30k a year for 15 years[1]. So right off the bat we have 50k a year in expenses for having a single kid, not counting feeding them and other activities. If you choose public sc…

Why are you funding over half a million just for college?

Because that is the estimated cost of college in 18 years. :(

Over the last couple of decades, tuition has gone up 2x inflation, which means figure 6-7% increase in college costs per year. That sadly adds up to around half a million.

Re: I regret selling my startup

#152

Post by mewpmewp2 »

dukeyukey wrote: post #138
neilk wrote: post #98

Earlier quoted context omitted.

Like any engineer, I know more than a few instant-millionaires. The ones who were capable of being happy before money continue to be capable of being happy. They had sources of self-worth outside of money, social connections outside the office or hanging with their startup bros, and interests that are intrinsically satisfying even if they are not profitable. You don't need all of the above, but you do need at least o…

> Like any engineer, I know more than a few instant-millionaires. Cries in Europe :(

Fellow europoor here. Hear, hear, brother.

Re: I regret selling my startup

#153

Post by unshavedyak »

toomuchtodo wrote: post #79
com2kid wrote: post #52

Earlier quoted context omitted.

We are talking early retirement here, so presumably young enough to still have a family. Daycare in my area is ~2400 a month (not the super fancy daycares either, they are over 3k a month). If you want to fully fund a 529 college fund, that is 30k a year for 15 years[1]. So right off the bat we have 50k a year in expenses for having a single kid, not counting feeding them and other activities. If you choose public sc…

This isn’t a wealth problem, this is an expectations problem.

Yea. Households are living off of 80k/y and this thread is complaining that it costs a couple million to buy a city house.

IMO move. If the life you want is more rich than your funds, congrats you’re still working - but you still have a massive bump.

So weird to me lol

Re: I regret selling my startup

#154

Post by neilv »

tourmalinetaco wrote: post #67
neilv wrote: post #57

Earlier quoted context omitted.

Wouldn't those guys inspire some people to spend huge amounts of time researching, stock-picking companies you can understand with moats and good management teams, trying to buy when blood in the water, oddly favor junk food, etc.? Jack Bogle would have you park it in a balance of broad index funds, and generally don't touch it, nor even think about it: https://www.bogleheads.org/wiki/Bogleheads%C2%AE_investment_...

Considering Buffett challenged hedge funds that they couldn’t beat S&P500 index funds over a decade, I‘d say they‘re both on the same page: https://www.investopedia.com/articles/investing/030916/buffe...

Yep, and IIRC Buffet suggested S&P for wife's investments. His research-heavy investment, and ideas around stock-picking, seems to be how he wants to spend his time.

So, if trying to steer people away from obsessing about growing/hoarding more money than they'll ever need... maybe just steer away from Buffet altogether, and towards Bogle.

(Bogleheads can also become a time-consuming activity, but more likely to instill the message of just stuffing it in total-market index funds, keep it boring, and don't think about it.)

Re: I regret selling my startup

#155

Post by gnicholas »

hiAndrewQuinn wrote: post #68
gnicholas wrote: post #25

Earlier quoted context omitted.

The normal path is to establish a trust fund, into which you and your spouse contribute the maximum annual exclusion amount. By the time they're grown up, they've got a tidy sum. And when they get married, you and your spouse can give the maximum gift amount to each them and their spouse every year.

You're a saint, thank you

Not a saint, just a former tax lawyer. There are more elaborate strategies that allow people to move larger sums, particularly if they have stock in pre-IPO companies. If you find yourself in need of that kind of advice, find a 'private client' lawyer to help you understand and navigate the complex rules.

Re: I regret selling my startup

#156

Post by arkey »

renewiltord wrote: post #37
arthur_sav wrote: post #34

Earlier quoted context omitted.

Why would anyone buy a house in a major city, especially for retirement. You can get something decent for half the price near nature.

Bad for environment. No friends around. Pluses and minuses so it’s not obvious.

How is that bad for environment?

Re: I regret selling my startup

#157

Post by gnicholas »

brianwawok wrote: post #99

Why does ever seller of a business become an angel investor? And the follow up, I wonder how business seller angels perform compared to your normal angel fund...

One cause is the tax benefits. If you're selling qualified small business stock, you can defer gains by rolling them over into new qualified small business investments, within a certain time window. That's a pretty big tax preference, and it means that even if you don't do an amazing job of angel investing, you might be better off than taking the money, paying tax on the gains, and investing it in real estate or the stock market.
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