no, but it does come with the boo-hoo girl:
Posted on 02/17/2024 10:36:10 AM PST by grundle
Former Goldman Sachs analyst Sam Dogen — also known as the Financial Samurai online — once decided to cash in on a huge chunk of his investments to buy a “forever home” for his family.
But by selling his stocks and bonds, he lost about $150,000 a year in passive income. “My family and I could have been set for life. Instead, due to my inability to beat back real estate FOMO (fear of missing out), I blew up our passive income,” Dogen wrote in a blog post.
Dogen’s been investing for a long time. In fact, he first made headlines back in 2012 for championing the “financial independence, retire early” (FIRE) movement by retiring at the age of 34 with a $3 million net worth.
He’s since been living off his passive income from stocks, bonds, and real estate — but after paying cash for a recently remodeled home on a triple-wide lot, he says about five years’ worth of progress has been lost.
Dogen says in 2023 his passive income was tracking to generate about $380,000 a year. But after purchasing a new home in the pricey San Francisco Bay Area, he now expects it to decline to about $230,000 — which he claims is no longer enough to cover his family of four’s living expenses.
Dogen’s annual budget includes $80,400 for tuition at a private Mandarin immersion school for his two kids, $68,400 for housing costs, $24,000 for health care, $40,000 in potential 401(k) contributions and $26,400 in food (including weekly date nights). He also has $16,800 set aside for vacations.
(Excerpt) Read more at finance.yahoo.com ...
“CHINESE STUDENTS TURNING BACKS ON UNITED STATES”
https://epaper.chinadaily.com.cn/a/202307/03/WS64a1f7d8a3109411cfdc8956.html
The math is only addition and subtraction, and comparing that result to your expenses.
He didn’t realize this before he bought his “forever home?”
Our Oppenheimer financial advisor has steered us into a lot of funds. I noticed they generally made about four percent. When Biden crashed the economy, the funds lost money. I studied the many losers and discovered exactly thirty percent of each fund was invested in companies who claimed on their website to be “all about” in the words of one, saving the planet. They were heavily invested in ESG or DEI or both. Some had a VP or director of ESG/DEI. Those companies were not making any profit because, profit’s bad for the environment don’t-cha-know. I sold those funds and invested in companies dedicated to ruining the environment...you know oil, weapons, airplanes.
So, who made money on those funds? The people who ran them and nobody else. They generally had seventy percent good companies to make up the difference. But their real customers for those funds was Calpers and Black Rock. Those companies have billions to invest, and they’ve outright said, if you aren’t saving the planet, you won’t get their money. Those funds were squarely aimed at their money.
If he dumps the Mandarin Immersion school, he’ll be OK.
no, but it does come with the boo-hoo girl:
He is making it back on the implied rent that he’s not paying on the sort of house he bought. Or not.
“I wish I had $150,000…..I would talk to a good financial advisor and invest the lion’s share.”
safe investment would be Schwab’s SNOXX short term fed bond fund yielding 5% ...
Shell stock is yielding a dividend of 4.97% at today’s price of $63.57, plus good likelihood of capital appreciation ...
you won’t get rich investing like that, but you won’t get poor either ...
I want to see a photo of the house and the property and the location. I suspect he bought himself a house and property that are too big in a neighborhood with high property taxes.
I suspect he wanted to maintain his status. That costs money.
The Financial Samurai has disgraced himself. Hara-kiri is the only course.
Lol
Idiot.
I use VMFXX—Vanguard’s lowest risk money market fund—it is where they dump your money if you “do nothing”.
I am “doing nothing” and have been earning 5.3% this year.
If that fund fails we are in TEOTAWKI and will probably be eating our neighbors.
Lol.
Life’s rough.
I’m 76, never owned a home, and raised two kids alone as a divorced mother. Been happily retired for 20 years. Never felt compelled to work, or needed to work after I retired, and feel like I’ve lived the American dream. To me, the American dream is being self-sufficient, independent, having enough food on the table, not be materialistic, and never having to take a handout from anyone. God has been good to me.
So, sell the house, bozo. You can’t “have your cake and est it to”.
Wait, so you're saying I've jumped the gun?
... and do you have any good recipes for BBQ sauce?
It's the genderless way to say the same thing. It also avoids woketicisim. (Woke Criticism).
“I would talk to a good financial advisor...”
Like this handjoh?
Downgrade your lifestyle if you need to for survival. Getting out of a high tax blue state should be a first step. I live in what used to be a red state. Taxes are ridiculous and I can’t wait for next year for my kid to graduate. For sale sign will be heading towards the front lawn
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