101–110 of 114 posts
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A day in my 20s was worth nothing. I went and flipped burgers for $4/hr, then probably went out for beers at a dive bar that night. Just living day to day.
I imagine your 70 or 80 year-old self would think that a day like that in your 20s is worth the moon.
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If you have a 2.6% mortgage which is less than inflation, then you are making money from the bank. Paying that off would be ridiculous.
Paying your mortgage off comes with no risk, it’s not going to come back again. Meanwhile your investments could collapse tomorrow.
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As someone who is not so young anymore, but also not old, I think it is compound depreciation.
But… you can pay someone to carry your pack, and lie in a comfortably bed at night (you won’t sleep though, that ability vanishes at 40). The shiite travel arrangements young people will tolerate are truly hilarious.
I’m not sure why you say that.
If one takes care of themselves in terms of diet and exercise, good sleep should be a thing for most of their life.
I’m in my 50s, and I sleep about as well as I did in my 20s (possibly better).
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Growing up around people who lost everything, job and savings, working at Enron, you should take all the money they’ll let you. You are structurally long your company already, because if they struggle you could lose your job. Diversify your wealth away from that concentrated position as much as possible if you’re offered a fair price.
Would you apply that similarly to RSUs at a public company as well? i.e. always sell your stock grant and diversify regardless of the company?
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Growing up around people who lost everything, job and savings, working at Enron, you should take all the money they’ll let you. You are structurally long your company already, because if they struggle you could lose your job. Diversify your wealth away from that concentrated position as much as possible if you’re offered a fair price.
I disagree. The answer for me is always half. And then next time, half again. Always take some out and leave some in, and an easy way to hedge your bets is to make both amounts half.
There's a crucial extra factor that isn't in the original article, but ought to be: Money's ability to buy great experiences decreases as you get older. I've seen this with beach vacations, road trips to see a favorite band, fast cars, ski trips, etc. Seize the moment, friend! What you can do NOW with that 10% slice will never exactly be on your possibilities map again.
This is why I love old tech like my 40 year old car (bmw e30 325is) and analog camera and whatnot. You have way more control because of less external dependencies and simplicity, and the prices are still decent compared to what you'd get now for vastly more money. $70k dogshit unwrenchable SUV or $10k 80's car that works like a dream and is built like a thinkpad? It's so relaxing working with older things. Hearing ol…
Earlier quoted context omitted.
If you have a 2.6% mortgage which is less than inflation, then you are making money from the bank. Paying that off would be ridiculous.
Just to reiterate the point the person above you made, but in far simpler terms: independence can be far greater return on your personal well-being then maximizing gains. I'm willing to "lose" out on $50-$100k over the lifetime of my mortgage in exchange for never needing to make a payment on the house again
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But… you can pay someone to carry your pack, and lie in a comfortably bed at night (you won’t sleep though, that ability vanishes at 40). The shiite travel arrangements young people will tolerate are truly hilarious.
> you won’t sleep though, that ability vanishes at 40 I’m not sure why you say that. If one takes care of themselves in terms of diet and exercise, good sleep should be a thing for most of their life. I’m in my 50s, and I sleep about as well as I did in my 20s (possibly better).
Being exhausted when I go to bed helps and I ride a bike to get that, but having the time to get my milage high enough isn’t always possible.
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This is why I love old tech like my 40 year old car (bmw e30 325is) and analog camera and whatnot. You have way more control because of less external dependencies and simplicity, and the prices are still decent compared to what you'd get now for vastly more money. $70k dogshit unwrenchable SUV or $10k 80's car that works like a dream and is built like a thinkpad? It's so relaxing working with older things. Hearing ol…
Great car! How’s maintenance?
I've also got a period correct radio in there from bmwradios.com (radio wizard from estonia) who gave it bluetooth functionality along with a period correct panel in the console for a microphone, so I can talk hands free while I'm driving. He also modified the radio for me to read out the different GTA 3/4/5 radio stations and I can switch them around as I only listen to GTA radio and commercials when driving [1]. Besides it being 900kg with no airbags, it's the perfect car.
Between e30zone, the bentley manual, and realOEM [3] amongst the other infinite amount of resources it's impossible not to do your own work on it and it's usually easy. It really is a thinkpad in car form. Most parts are still produced and if they aren't you can get any number of things from third party shops like e30garage.no [4] if it's not on FCPEuro. Lot's of parts are also plug'n'play between different BMW models like steering racks which are quite easily swappable.
[0] https://i.imgur.com/kjt2ATf.jpeg
[1] https://i.imgur.com/uenzzLq.mp4
[2] bonus winter video: https://i.imgur.com/KG2IlgN.mp4
I participate in a personal finance sub-reddit, and there is often a question of whether someone should pay off their mortgage (completely, or make some lump sum payments). The mathematical answer is that if your interest rate is lower than the expected returns of some kind of portfolio you have, than you'll make more money investing. But I like to bring up what Morgan Housel, author of the book The Psychology of Mon…
Obviously you need to consider both net worth and cash flow when making a decision like that, but don’t underrate the difference that improved cash flow makes!
