@BarbellFi 1.7m safe withdrawal is 68k a year. And spouse works part time already.
Business fails? Get a new job in 6 months. Making even 75k a year still keeps them making more than spending.
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keith council
1.2K posts
keith council
@SolidCouncil
Loving life! I create software for a living.
DFW Katılım Aralık 2010
335 Takip Edilen120 Takipçiler
@BarbellFi 1.7 is in retirement or taxable? If taxable, go for it if he thinks he can replace his income in 3 years and will surpass is ceiling on the 9-5. Paid for home and 1.7 in liquid assets, and a working spouse is basically infinite runway.
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My buddy wants to quit his job
Rather focus on his side hustle
He’s 35 making $230k/year at 9-5
Side hustle makes $48k/year
Wife makes $75k/year part time
2 young kids at home
Spend $80k/year
$1.7 million invested
$800k house paid off
Share any advice you have for him 🤔
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@ScottAtlas_IT Be aware that this is also a very clever political totem that would all but guarantee at least a 50% popular vote. Bezos, or anyone with this campaign promise, may attempt to take a political position in the coming decade.
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Disagree that half the people should pay zero. Every single person, every person, should pay some income tax. Even one dollar is skin in the game.
Jeff Bezos@JeffBezos
Yes, the United States has the most progressive tax system in the world. The top 1% pay 40% of taxes, the bottom 50% pay 3% of taxes. We can make it even more progressive by zeroing out taxes on the bottom half. It’s a small amount of the total tax revenue but very meaningful to people in this group.
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@Robert027R1 I think it depends on where you are in the cycle of the market. It's historically odd for the top 10 to represent such a big slice, so it is inherently more risky right now compared to more balanced eras.
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@SolidCouncil Yeah exactly, that’s the key point people miss — breadth doesn’t change concentration
Do you think that level of top-heavy weighting is actually a strength (winner capture), or a hidden risk if leadership rotates?
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Why doesn’t someone create the S&P 5000 which includes the 5,000 biggest companies in America.
Wouldn’t that outperform the S&P 500?
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@texasrunnerDFW @Jackkk It's a risky move. Macroeconomic shifts, job loss, and health issues can put such a family at risk of not being able to weather storms. If 2-3 years, why not rent for that period in said district, save more for DP, hope for promotion then?
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@Jackkk Another option: A young couple stretches to buy a house to get their kids in a good school district and then budget tightly for 2-3 years while working hard and one or both gets a promotion or side gig and the payment becomes less of a burden
Seen this happen a lot actually
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Kevin O’Leary says spending too much on a house leads to bankruptcy or divorce
“You can’t let a mortgage or your home consume more than a third of your free cash flow per month or you are f*cked, you’ll go bankrupt”
“When I see people overbuying houses and they can’t afford it even with two salaries, I know one of two things is going to happen”
“They’re going to go bankrupt together or they’re getting divorced”
“The number one reason for divorce is not infidelity, it’s financial stress”
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@MarketPalmer_ I disagree. I would not want to put my kids in a vehicle I'm not in, install car seats in a cab, separate from my spouse, or hassle with there being cabs unavailable during a surge.
I want a car that's mine and clean and holds the whole family.
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@MarketPalmer_ Musk has publicly stated that they have avoided this because the idea is that Cybercab will eliminate the need for larger family vehicles, as you will just use multiple Cybercabs.
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I have no idea why Tesla hasn't come out with a Tahoe-style SUV.
Pair that with FSD and it would be one of the top-selling vehicles in the world.
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@RomanPuglise Yep. They have an amazing income, so attention there would do wonders.
I also say life is “front loaded”. You have to get career, housing, and family started in short order. Retirement is important, but you are only young once. If you have children, it’s only for a season.
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@SolidCouncil Exactly the right way to think about this. Need to build up that brokerage account!
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Client Scenario:
Married couple. Both 38.
Household income $620,000.
$1.4M in 401ks and IRAs.
$280k in a taxable brokerage.
$180k left on the mortgage at 2.9%.
Two kids — 6 and 8.
They keep telling us they feel behind compared to their peers.
What are your thoughts?
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@conorsen Seriously! I feel like I have to give an account for minutes across all vectors. Sharp difference from early 20s where I may have to report what happened the last week
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@gldivittorio You need utilities. You need labor. Building a data center in the middle of nowhere requires that you now have to import those things, which is difficult and expensive.
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One thing I don't get about data centers— there is sooo much flat, empty, highway accessible land in the US that might require some additional infrastructure but would face far less backlash. Why are these AI companies always trying to build LexCorp in quaint midsize towns?
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@wholemars Many of these companies offer some of the highest paying jobs in the world.
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It saddens me to see this level of economic illiteracy. Creating a billion dollar company isn’t evil, and you don’t have to steal from workers.
Are you telling me the founders of Google, Facebook, Apple got rich by underpaying their workers and forcing them to get food stamps? No, they paid workers generously, and gave them free food at company cafeterias. These founders didn’t take from the company’s operating budget that was meant for payroll. They benefited from the appreciation of equity, and gave their employees access to the same equity appreciation.
What a dangerous way of thinking to claim that anyone who created value must have stolen it.
Alexandria Ocasio-Cortez@AOC
The single largest form of theft in America is wage theft. $50 billion a year are stolen from American workers. If a billionaire amasses their wealth by underpaying their full-time workers so severely that they must rely on food assistance and government programs to survive, then no, that wealth was not earned by one individual - it was a wealth transfer subsidized by underpaid American workers and the public who get stuck with the bill for large corporations free-riding off our systems. The point is less about individual morality. It’s more about how our current economic reality of shattering inequality rewards screwing over workers and exploiting essential systems at scale. We’re talking monopoly power. Rent-seeking. Wage theft. Profiteering. Stock buybacks. Destabilizing housing markets. Companies using SNAP/EBT to underwrite their wages. Massive government subsidies or contracts to corporations following lobbying and dark money in politics with little to no oversight or accountability. Some people get enraged that I draw attention to this. That’s on them. Let them call me shrill, dumb, inexperienced, girly, uneducated - these folks will say anything to distract from or undercut the truth that working people are getting screwed, and giving people a fair shake means we must have a grown conversation about reigning in abuse of power.
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@SERobinsonJr This is one of several locations under consideration for what will be the largest and most advanced chip fabrication facility in the world
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SPACEX / TERAFAB: The County of Grimes, Texas, will be home to SpaceX's Multiphase, next gen, vertically integrated semiconductor manufacturing and advanced computing fabrication facility.
Estimated capital for initial phase is $55 billion. Estimated total investment of $119 billion.
The agreement covers the SpaceX Reinvestment Zone No. 1 – 2026-001 located at Gibbons Creek Reservoir and surrounding areas.
A public hearing will be held June 3rd.
S.E. Robinson, Jr.@SERobinsonJr
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@J__Perc I moved to the metro one year ago, so all seasons now. The winter is relatively mild and the spring is amazing here.
All these folks complaining about the summer gave their crap season too. I think only SoCal has near perfect weather year round
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Dallas is the greatest city in the USA.
There’s no where that compounds growth like Dallas (also Ft. Worth).
The land value has no competition. The job market is second to none.
Southern hospitality is at its best here. The people make this city great
We started a business with $20k and have a cult following.
Dallas is a business town. Business travel in this city amplifies growth.
Schools are the best in the country.
Summers are hot but if my peppers can survive in August without running water while only being watered once/twice a week, you’ll survive.
molson 🧠⚙️@Molson_Hart
Let me explain Dallas(s) 1. The summers are unbearable and this cannot be understood without moving there. You can't just visit Texas for 3 weeks in peak summer and understand it, because that's not why it's bad. It's bad because it's late October and it's 90+ and you're questioning your sanity as to whether not it will ever end. 2. Dallas' culture, superficially seems good, but once you dig down... 3. Dallas living is about the airport. You save money in Dallas and then fly out all the time because being in Dallas is rough. Airline travel in the US has declined a lot, so this way of life works less well. 4. The driving. It's dangerous. You need a tank and you're going to be sitting in it all the time. Dallas sort of seems like a city but it's not really. It's more like an area. 5. You can trade 3% state income tax for better weather, more trees, and fewer problems. I think Dallas is a solid place to live in a bigger house with A/C and grind for money aggressively for a short period of time and then move out of. Other than that, unless you are tied down there (job, family), I can't recommend it.
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@bscholl Please! Blake, you are familiar with the DC machine, lobbying to get the sonic boom regulations changed. How do we get our government to make this priority number 1??
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Balance the budget now and then establish a 5% surplus so we can start paying down this monstrosity.
Inflation will instantly disappear when we do this.
Rand Paul@RandPaul
The last time debt hit these levels, America had just helped win a World War. What's our excuse today? Runaway spending. Bloated budgets. A uniparty that refuses to say no. I've said no. I'll keep saying no. But I need Americans to demand better from their representatives. wsj.com/economy/u-s-de…
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Grant Cardone says a $500,000 house can cost $320,000 in interest before taxes or maintenance
“Bank of America is gonna charge you 8% for 10 years. You put 8% on $400,000, that’s 32K a year, times 10 is 320K”
“So you need to sell your house for 500K plus 320K to break even, and you haven’t paid property taxes, maintenance, or counted the fact that your 100K was dead”
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This tax season:
The American Revolution was kicked off when taxes amounted to roughly 3% of their income — granted to a government that didn't represent them.
The average American is turning over about 20%-30% of their income by the time it's all said and done.
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@ankurnagpal From experience: the headache of managing real estate is real, and it consumes time (aka, work). 10% for 2 button clicks and all of my time...not a bad trade.
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