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What I’ve Been Doing Since Quitting My Job

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Re: What I’ve Been Doing Since Quitting My Job

#121

Post by CryoLogic »

jackgolding wrote: post #115
blunte wrote: post #79

Earlier quoted context omitted.

Trust me, there are a whole lot of entrepreneurs not like the ex-Google "I'm self-funded for several years" types. I'm definitely not rich, and there are some months when I'm not sure I'll make it; but somehow I do, and then there are other months where things work out better than I expected. But when I walk out of my house and go where I want, when I want, while most of the rest of the people are told when and where…

This is what I find is most annoying - the traditional "more money more problems." I actually had the most savings I've ever had in my life while I was a student on $15k a year Government benefits. Every payrise I've gotten has just gone into more mundane crap - more booze, more expensive food, more spontaneous frivolous holidays...

That's entirely a discipline and planning problem.

I doubled my income, downgraded my lifestyle and now I am sitting on a 49.5% savings rate on my take home pay. No car, I budget to eat out twice per month and even the food I eat I prepare myself.

My girlfriend also doubled her income, but has since doubled her expenses and not saved an extra dime. What has she spent it on? Clothing, jewelry, expensive organic food, new pet, etc.

Consider even getting a room mate if you want to save more.

Re: What I’ve Been Doing Since Quitting My Job

#122

Post by marssaxman »

gowld wrote: post #82
marssaxman wrote: post #54

Earlier quoted context omitted.

I don't know where these numbers come from. I made a gross salary of $140k the year I worked at Google as a senior engineer, and I made some extra money via 401k matching too. $190k would definitely have been more than my entire income, that's for sure. It's hard to imagine that salaries have more than doubled in the six years since then. And... spending only $60k a year, living in Seattle? Yeah, maybe if you live li…

Did you forget that you have RSUs? $60K is plenty for a single person . Working for more than 1 years helps, too, if you sold your stock before it appreciated, since 4-year vest forces you to not sell for 1-3 more years.

I made as much money on Google RSUs as I've made on every other form of equity offered as part of a "total comp" package over the course of my career, which is to say, nada. Total comp is bullshit, no matter how enthusiastically the recruiters try to convince you otherwise; salary is all that matters.

Re: What I’ve Been Doing Since Quitting My Job

#123

Post by mancerayder »

CryoLogic wrote: post #121
jackgolding wrote: post #115

Earlier quoted context omitted.

This is what I find is most annoying - the traditional "more money more problems." I actually had the most savings I've ever had in my life while I was a student on $15k a year Government benefits. Every payrise I've gotten has just gone into more mundane crap - more booze, more expensive food, more spontaneous frivolous holidays...

That's entirely a discipline and planning problem. I doubled my income, downgraded my lifestyle and now I am sitting on a 49.5% savings rate on my take home pay. No car, I budget to eat out twice per month and even the food I eat I prepare myself. My girlfriend also doubled her income, but has since doubled her expenses and not saved an extra dime. What has she spent it on? Clothing, jewelry, expensive organic food,…

You've only got one life, unless you have some strong beliefs, and if you calculate the weeks remaining assuming a lifespan of around 80... You can understand the reasoning of your girlfriend. Taking a step back, people are different. I'd rather slave away in a 9 to 5 than not be able to do things I enjoy, like taking advantage of good restaurants I can walk to.

Re: What I’ve Been Doing Since Quitting My Job

#124

Post by hkmurakami »

paulsutter wrote: post #94
greggman wrote: post #74

I glad it worked out for the author but so far it hasn't worked out for me. It's been 5 years which wasn't my plan. I thought it would be 6 months until I figured out what I want to do. Things that happened. Travelled: found it mostly extremely lonely to travel alone. Got sick of seeing the same things (this place's contemporary art museum, that place's famous church). Of course I saw some amazing things but I now th…

I spent most of the last 5 years in Tokyo + traveling, mostly not working. Too bad we didn't run into each other. Happy to chat, have some suggestions. My email is in my profile.

Paul I think you've forgotten that you've removed your email from your profile. ;)

Re: What I’ve Been Doing Since Quitting My Job

#125

Post by 347067 »

marssaxman wrote: post #122
gowld wrote: post #82

Earlier quoted context omitted.

Did you forget that you have RSUs? $60K is plenty for a single person . Working for more than 1 years helps, too, if you sold your stock before it appreciated, since 4-year vest forces you to not sell for 1-3 more years.

I made as much money on Google RSUs as I've made on every other form of equity offered as part of a "total comp" package over the course of my career, which is to say, nada. Total comp is bullshit, no matter how enthusiastically the recruiters try to convince you otherwise; salary is all that matters.

Stupid question, but since Google is a public company couldn't you lock in a certain profit on your RSUs with options in a private account? Or are you talking about the restrictions on vesting are meant to make them worthless for most employees because they'll be forfeited on some draconian technicality before exercising?

I remember on Bogleheads people talking about how to reduce the risk of investing in something like an ESPP to avoid an Enron scenario, and the consensus was using options in a private account so that you get a definite payoff.

Re: What I’ve Been Doing Since Quitting My Job

#126

Post by marssaxman »

347067 wrote: post #125
marssaxman wrote: post #122

Earlier quoted context omitted.

I made as much money on Google RSUs as I've made on every other form of equity offered as part of a "total comp" package over the course of my career, which is to say, nada. Total comp is bullshit, no matter how enthusiastically the recruiters try to convince you otherwise; salary is all that matters.

Stupid question, but since Google is a public company couldn't you lock in a certain profit on your RSUs with options in a private account? Or are you talking about the restrictions on vesting are meant to make them worthless for most employees because they'll be forfeited on some draconian technicality before exercising? I remember on Bogleheads people talking about how to reduce the risk of investing in something l…

I don't know what a "private account" is; I was referring to vesting restrictions.

Re: What I’ve Been Doing Since Quitting My Job

#127

Post by 347067 »

marssaxman wrote: post #126
347067 wrote: post #125

Earlier quoted context omitted.

Stupid question, but since Google is a public company couldn't you lock in a certain profit on your RSUs with options in a private account? Or are you talking about the restrictions on vesting are meant to make them worthless for most employees because they'll be forfeited on some draconian technicality before exercising? I remember on Bogleheads people talking about how to reduce the risk of investing in something l…

I don't know what a "private account" is; I was referring to vesting restrictions.

Ah makes sense now. I thought you were referring to losing money on poor performance of the underlying stock between offer and exercise. "Private account" just meant buying put options in an account you control versus something like employer payroll deductions in an ESPP.

Re: What I’ve Been Doing Since Quitting My Job

#128

Post by monktastic1 »

marssaxman wrote: post #122
gowld wrote: post #82

Earlier quoted context omitted.

Did you forget that you have RSUs? $60K is plenty for a single person . Working for more than 1 years helps, too, if you sold your stock before it appreciated, since 4-year vest forces you to not sell for 1-3 more years.

I made as much money on Google RSUs as I've made on every other form of equity offered as part of a "total comp" package over the course of my career, which is to say, nada. Total comp is bullshit, no matter how enthusiastically the recruiters try to convince you otherwise; salary is all that matters.

Why did you make nada? For many engineers senior and above, the RSU value is even greater than the salary.
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