Lauren | Adulting Is Easy

What's expensive, but worth it?

@mhp_guy We have some that freeze lower than that They aren't locked though

Call me old fashioned, but when I pay $300/night for an Airbnb, I want to be able to control the thermostat. 72 degrees ain’t gonna cut it for me. I’ve owned Airbnbs and rentals, so I get it, but at least let me pay extra to get the code.

@MarketPalmer_ Its not a material amount of money

I work in sales, so I respect the grind for 99% of salespeople. But there's a 10,000% higher chance I buy from a kid. Girl Scout cookies, fundraisers, lemonade stands, etc. usually aren't selling products I'm interested in. But if the kid is making an effort (and it's not just their parents doing it for them), I want to buy from them.

@thefrugalexpat1 Its bad

@AdultingIsEasy Yep my dad tells me all the time how dumb it is.

Did you know Florida is on its way to a $15 min wage? In other news a handful of my favorite restaurants have closed.

@MarketPalmer_ Totally doable

My wife and I want to be “work-optional” by age 49. We’re still millions away. We have two little kids. We love to travel, eat good food, and spend on experiences. Neither of us make a ton of money or have massive inheritances waiting for us. We also don't want to work 80-hour weeks. So how can we pull this off? By sticking to the plan: – Disciplined budgeting – Aggressive investing – Ruthless consistency It’s a boring answer... …but it actually works when you stick with it for 10–15+ years. The long game is undefeated if you don’t quit.

@dig_deeper1 ⬆️

What happens to property prices if interest rates drop to low 4s ?

@SelfMadeMastery 🫡

How many of you guys actually own real estate outside of your primary residence? I’m genuinely curious how common this is.

@Budgetdog_ For real. Try sending wires from Vangaurd. Smh

Tried to transfer $50,000 from my business bank account today. Declined. I had already transferred $100k and $128k recently. I had to text my banker to get permission to move my own money. Funny how you don’t realize how little control you have… Until you try to use what’s already yours.

@IAmClintMurphy Hi again, my friend!

Well, well, well...It seems we're back and it's time to reintroduce ourselves. My name is Clint Murphy and I'm a real estate developer... It's been too long a road to get to where we are today: • 25 years in Finance • 15 years in Real Estate • 8 years as a RE Development CFO • $2.5+ billion in RE sold or stabilized When I first joined Twitter, I was writing about personal, professional and financial growth as I built a Podcast and newsletter. That changed when I started our real estate development company, it became the focus and absorbed most of my time - lots of stories to share in the coming years on the first two years in business. The first 10 years of my career were largely with KPMG, focused on private companies ( SMB Twitter ) and real estate ( RETwit ). The last 15 years have been focused on Real Estate, working for some of Vancouver, British Columbia's largest real estate developers and landlords, the last 8 as the CFO of a large team with exposure to: • Private REITs • Semi-public REITs • Real Estate Development • Mortgage Investment Corporations I've had the fortune to be involved with $2.5+ Billion of real estate sold or stabilized during those 15 years, which includes: • Feasibility • Acquisitions • Development approvals • Construction management • Sales and marketing processes • Project capital, finance and reporting Now, we're doing that for ourselves. We're starting small. Focused on small-scale, multi-use housing (SSMUH) in Vancouver, BC, and look forward to sharing that journey with you as we go. In addition to work, I'm a husband (we've been together since 1995), father to two boys (18 and 15) and our oldest heads to Ottawa (Carleton Ravens) to play college football in August.

@BoringBiz_ Its not a big enough number of ppl to matter

The FIRE (financial independence retire early) movement has done an immense amount of harm to society This is coming from someone who used to be a believer in FIRE, but I have realized just how much of a fallacy it is, as I have grown older Taking a bunch of high potential income earners and convincing them that their life goal should be to pursue a net worth that allows them to check out of society is immensely damaging to the social fabric Many of these people sit on the upper echelon of office jobs, have built great businesses, or are at the top of their field in their career field They should be inspired to continue doing what they are best at, and ultimately, mentor and give back to the next generation who want to pursue those same goals Instead, many of these FIRE folks become wandering retirees with a meaningless life who are trying to grasp on to money as their north star It is a false sense of security and accomplishment. Becoming wealthy should never be a goal in the first place. It should have always been to pursue something that adds meaning to your own life and to society It is a completely fallacy to believe that retiring will be your source of happiness. More often than not, it has the complete opposite effect

@theficouple Depends how much you could sell the business for

Unpopular opinion: The $120k salaried worker with a 9-5 job is better off than the 70 hour per week business owner barely earning $65k ...And it’s not even close.

@jeremyct Didn't happen

My dad found out I have $122,000 in student loans last month. Sat across from me at dinner while I explained how the payments are swallowing everything. He got quiet. Said he felt terrible about it. Called me that weekend to check in. Then sent me a photo. New Porsche. Said buying it made him feel better. I’m 29. Still paying for a degree he told me to get. He’s 61. Just needed his third car to process the guilt. Some parents don’t know how to help. Some parents don’t know the difference between helping and just feeling better about not helping.

@ThinkAppraiser LOL

Doing a 5,000 SF house today that sold for $5M I never thought value would be supported, turns out there’s 12 great comps to pick from Comps range from $2.7M to $9.8M in that neighborhood with tons around $5M I’m going to door knock and find out if anybody needs a live-in pool boy Any tips on how to safely secure yourself to the underside of a vehicle?

@realfrugalmogul Bingo

Buddy (new landlord): Hey man, I’ve got this applicant who seems great but they are 6’3” and the stairs to the second floor are really tight. He has offered to have his company install a dormer in it for me for around $6,000. What do you think? Me: Yeah, that’s a big nope Buddy: Oh, why not? Me: Many reasons… let’s break this down. Someone saw your house, seemed nice, and they’re trying to convince you to make a major improvement AND soliciting to perform the job? Buddy: Uh, yes Me: I see two major issues: 1) That’s not a great way to start a tenancy. Even if this was a greatly qualified tenant, making such a major concession/improvement to start the relationship sets unbalanced expectations Buddy: Fair enough, what’s the second problem? Me: In my opinion, you never let tenants improve the property. First thing they’ll do is say “just take it off the rent.” Now you have someone making improvements to their own house in exchange for lower rent. Buddy: What’s so bad about that? Me: There’s a clear conflict of interest here. The more they “fix” the less rent they pay. They improve their own living quarters and pay less to live there. You’ll end up paying for way more work than you ever would otherwise. Buddy: OK - so no making big concessions at the start of the relationship and no to allowing tenants to fix their own homes. Me: Correct ✅

@MarketPalmer_ Even people who think they aren't doing this because theyre paycheck to paycheck are wrong. They're doing this by not cutting some stupid thing to invest.

A young man was walking down the street. Something caught his eye on the ground – a $100 bill. He looked around. No people or establishments anywhere near him. That $100 was all his if he wanted it. All he had to do was pick it up. Instead, he kicked it off to the side and down a sewer hole. He then continued his walk as if nothing ever happened. This is the story of the millions of Americans who have access to a 401k match, but choose not to take it.

@FiSurgi I guess you could have answered and then said, why do you ask?

Against my better judgement, I went and bought my kids, Dunkin Donuts. First off - Duck Donuts is better, but this was on the way. An interesting thing happened in the drive thru. As I was paying the young man taking my order asked, “How much did you pay for your car?” It’s an interesting question and one that I don’t usually get asked, so I answered him. I was expecting him to ask me what I do for a living in order to afford that type of car, but he never asked. He’s young, and I get that, but when I was his age (late teens, early 20s) I did my best to find out the path someone took to get them in the position I saw them in. I think as a society we’ve lost that curiosity. But, I could be wrong and the guy really liked my car. 🤷🏽‍♂️

@ClintFiore Yikes

Business Owners overestimate their business value by 59% on average.

@TKopelman Hopefully more estate planning too

"Financial planners just do investments. Why would I need someone to tell me to S&P and chill" Okay... So I have a new client Makes $1.3 mil a year with a spouse making about $200k Here are all the things we already are evaluating and talking about: - Does he stay LLC taxed as a Solo prop or move to S Corp (non SSTB, NO PTET right now, etc) - what does he pay himself if moving to S Corp - what amount should be payroll vs distributions - how to leverage QBID - what retirement accounts to set up. Should he stay with SEP or move to Solo 401(k) - should he do pre-tax or Roth: should he max - Should he elect into PTET - should a trust own all or part of the business - where should the cash be held in the business and how much - what does he owe in taxes quarterly and yearly - should he do 110% or 90% since they had a large capital gain the year before? - what should she put in her 401(k), should she do a mega backdoor Roth 401(k)? Is it even an option? - how should all their accounts be invested - how to save for the next 2 houses they are planning on getting in the next 10 years - what insurances does he need in and out of the business - what health insurance plan to elect into - should they max out and how should they use their HSA - etc And that’s literally only the beginning

@themoviedadsc Investing early is a cheat code

Our projected taxable brokerage ($800K balance) by age 50 assuming we keep investing my wife's salary ($4.2K/month): $4.9M If we cut contributions in half moving forward ($2.1K/month)? $4.04M The beauty of going hard in your 20s/early 30s and front-loading your investments.

@flavio_coast It was also meant to be an account

Social Security was never meant to do all the heavy lifting. It’s a base layer. Not the whole retirement plan. If your entire strategy is “I’ll live on Social Security,” you don’t have a strategy.