Financially, how should I live a more sensible life?

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Topic Author
Stackoverflow
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Financially, how should I live a more sensible life?

Post by Stackoverflow »

Hi BHs, I'm posting here to seek for some advice/suggestions for living a more sensible life financially. Because I think while I'm doing well financially, my life is probably leaning too much on making money and got over stressed.

Wife and I are both in early 30s, no kids. We are working on high stress high paying jobs in a high cost of living area. I currently make 0.7m annually, wife makes 0.3m annually. We have accumulated 3m assets, 60% in stock, 30% in primary residence equity, and 10% in cash/bond/gold/crypto. If we exclude the primary residence, it's a pretty high risk portfolio.

I'm not sure if we should stick to the high stress jobs. Honestly it's causing lots of problems: we are always tired after work, don't want to anything, and don't have the energy to have kids (although we do want to have kids). We both grow up from lower middle class families, we live frugally compare to our peers, and try to save as much as possible. We worked really hard to get to current compensation levels, and it's really hard to give up.

What would you do if you are in my position? Keep grinding and accumulate more assets (could probably achieve 5m in 3 years, and 10m in 8-10 years)? or switch to some less stressful lower paying job? or start my own business and pursue passion (most likely equivalent to much lower income)?
elle
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Re: Financially, how should I live a more sensible life?

Post by elle »

I wouldn’t assume starting a business is less work. Pursuing something you love may make it feel like less work. Owning a business can be extremely stressful.
123
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Re: Financially, how should I live a more sensible life?

Post by 123 »

You and your spouse are not getting any younger. If you both really want kids you need to make some adjustments in your lives to make that happen.

Some people enjoy putting all their effort into success at work and let that be their rationale for avoiding the real issues of life.

As far as I know no one has ever said on their deathbed "I wish I would have spent more time at the office".
The closest helping hand is at the end of your own arm.
FraserFir
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Re: Financially, how should I live a more sensible life?

Post by FraserFir »

What will having 5 million in assets do for you that having 3 million in assets does not?

Are all jobs at your current levels as stressful as the ones you have now or are there companies known for similar or slightly lower levels of compensation and less stress?
capcase
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Re: Financially, how should I live a more sensible life?

Post by capcase »

when you look back 30 years later, 3 million is not a big deal by factoring Inflation & money depreciation.
Stackoverflow wrote: Mon Dec 06, 2021 11:00 pm Hi BHs, I'm posting here to seek for some advice/suggestions for living a more sensible life financially. Because I think while I'm doing well financially, my life is probably leaning too much on making money and got over stressed.

Wife and I are both in early 30s, no kids. We are working on high stress high paying jobs in a high cost of living area. I currently make 0.7m annually, wife makes 0.3m annually. We have accumulated 3m assets, 60% in stock, 30% in primary residence equity, and 10% in cash/bond/gold/crypto. If we exclude the primary residence, it's a pretty high risk portfolio.

I'm not sure if we should stick to the high stress jobs. Honestly it's causing lots of problems: we are always tired after work, don't want to anything, and don't have the energy to have kids (although we do want to have kids). We both grow up from lower middle class families, we live frugally compare to our peers, and try to save as much as possible. We worked really hard to get to current compensation levels, and it's really hard to give up.

What would you do if you are in my position? Keep grinding and accumulate more assets (could probably achieve 5m in 3 years, and 10m in 8-10 years)? or switch to some less stressful lower paying job? or start my own business and pursue passion (most likely equivalent to much lower income)?
twh
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Re: Financially, how should I live a more sensible life?

Post by twh »

You keep going. You're only 30 and you have the physical and mental power to keep going.
Wife has 2 kids and stays home. I'm choosing wife to stay home because you are making more.
Stay at home parent can take some stress from working parent by taking the homefront job.
Re-evaluate when kids are in school full time.
Re-evaluate when kids go to HS.
Re-evaluate when kids go to college.
You can very easily retire a great life at 50 with zero worries.
Your portfolio is fine. You are 30 and can stand to weather more than one downturn and come out on top.
Keep living below your means, but don't get carried away. You can take a vacation. You can buy a new car every 5 years. You can afford HBO if you want it. Don't buy a new car every year, you don't need the latest iPhone as soon as a new model comes out, etc.
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Stackoverflow
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Re: Financially, how should I live a more sensible life?

Post by Stackoverflow »

FraserFir wrote: Mon Dec 06, 2021 11:25 pm What will having 5 million in assets do for you that having 3 million in assets does not?

Are all jobs at your current levels as stressful as the ones you have now or are there companies known for similar or slightly lower levels of compensation and less stress?

I guess the only difference between 5m and 3m is more sense of financial security. We don't spend much. Actually our coat of living is almost same as when we were making 1/3 of our income today. But on the other hand, financial security seems something important to us, maybe due to we grow up in lower income families.

There are companies paying less (probably 10-20% less) but much less stressful. Maybe that's what's best for us?
twh
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Re: Financially, how should I live a more sensible life?

Post by twh »

Stackoverflow wrote: Mon Dec 06, 2021 11:35 pm
FraserFir wrote: Mon Dec 06, 2021 11:25 pm What will having 5 million in assets do for you that having 3 million in assets does not?

Are all jobs at your current levels as stressful as the ones you have now or are there companies known for similar or slightly lower levels of compensation and less stress?

I guess the only difference between 5m and 3m is more sense of financial security. We don't spend much. Actually our coat of living is almost same as when we were making 1/3 of our income today. But on the other hand, financial security seems something important to us, maybe due to we grow up in lower income families.

There are companies paying less (probably 10-20% less) but much less stressful. Maybe that's what's best for us?
You are doing the right thing securing your financial future. Many I have known lived beyond their means and are not in great shape now.

Less stress for 10% less is fine, but, IMO it may be a case of the grass is greener.

My wife stayed home after our first child and it enabled the stress that I had tolerable until I retired early.
DIYtrixie
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Re: Financially, how should I live a more sensible life?

Post by DIYtrixie »

Stackoverflow wrote: Mon Dec 06, 2021 11:35 pm
FraserFir wrote: Mon Dec 06, 2021 11:25 pm What will having 5 million in assets do for you that having 3 million in assets does not?

Are all jobs at your current levels as stressful as the ones you have now or are there companies known for similar or slightly lower levels of compensation and less stress?

I guess the only difference between 5m and 3m is more sense of financial security. We don't spend much. Actually our coat of living is almost same as when we were making 1/3 of our income today. But on the other hand, financial security seems something important to us, maybe due to we grow up in lower income families.

There are companies paying less (probably 10-20% less) but much less stressful. Maybe that's what's best for us?
Given your high salaries and low annual expenses, a 10-20% haircut to enable you and your spouse to achieve major life goals like having and raising children seems like a very small price to pay.
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markjk
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Re: Financially, how should I live a more sensible life?

Post by markjk »

Life is about priorities and balance. It's a very personal topic so no one other than you and your spouse can answer how your priorities and life balance should line up. From what you've described, you have already saved more than most people your age. You have a large nest egg that no matter what you do from this point forward should continue to grow (if you assume historical averages). In 25 - 30 years, that portfolio should be much much larger even if you don't add another dime.

I think you are asking the right set of questions and just by your description and the fact that you are asking, you are probably ready for a change. What exactly the change is, I can't say. I will say from my perspective you've saved enough to make a change and try to get some of that balance back in your life. Money is important as it creates options. However, it's only one aspect of life and rarely is the root of happiness for anyone so careful not to over focus on it.
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Harry Livermore
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Re: Financially, how should I live a more sensible life?

Post by Harry Livermore »

twh wrote: Mon Dec 06, 2021 11:33 pm You keep going. You're only 30 and you have the physical and mental power to keep going.
Wife has 2 kids and stays home. I'm choosing wife to stay home because you are making more.
Stay at home parent can take some stress from working parent by taking the homefront job.
Re-evaluate when kids are in school full time.
Re-evaluate when kids go to HS.
Re-evaluate when kids go to college.
You can very easily retire a great life at 50 with zero worries.
Your portfolio is fine. You are 30 and can stand to weather more than one downturn and come out on top.
Keep living below your means, but don't get carried away. You can take a vacation. You can buy a new car every 5 years. You can afford HBO if you want it. Don't buy a new car every year, you don't need the latest iPhone as soon as a new model comes out, etc.
I'm with twh. Live below your means. That is the one thing that has made a difference for us. Also, as he said, if you want kids, don't wait. We had our youngest when I was 40, and now at 55, I find it a challenge to have the energy and drive to stay on top of a 15-year old going through puberty, college planning, and dealing with autism. I was MUCH younger when we had our other two kids and had more energy and drive. You may also want to consider the chaos factor with more than 2 kids... and if you think you want more than 2 you REALLY need to start thinking about it now.
Expanding on twh, if you can stick it out for 5-10 more years until the kids are in elementary school. 5 years if you are breaking. You said you'd have 5MM in 3 years. If you can stick it out 10 years, could you get to 8MM+ at 40 years old? You could basically do anything you want at that point (you could do anything you want now, but it might mean a move to a lower cost locale, etc. because you're "retiring" at 30)
After the kids are in school, ratchet down to another job/ role. Or stay at home and let wife jump back into the workforce.
None of it is one-size-fits-all.
I was the big breadwinner for many years, self-employed/ project based. My spouse is a teacher with excellent benefits, on the same schedule with our kids, and the ability to run and pick up one of them if they were sick at school, for example. It was a great combo. Now I am home a lot, but able to help the high schooler (difficult as explained above but I'm trying) and wife continues to plug away.
We are right on schedule (timeline and $$$) to be FI when youngest goes to college in 2 years. At that point I'll be 57. I'll probably put the business to bed at that point to reduce overhead but keep taking work on a project basis, and see how we are doing. We have a SFH rental we'll need to dispose of, and perhaps relocate to a quieter locale (our cute little suburb, forever semi-rural, is recently in the crosshairs of developers and the traffic, noise, and rudeness has gone through the roof)
Anyway, TMI, but the short of it: I think you should keep going but you and your spouse need a life plan.
Cheers
wander
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Re: Financially, how should I live a more sensible life?

Post by wander »

123 wrote: Mon Dec 06, 2021 11:24 pm You and your spouse are not getting any younger. If you both really want kids you need to make some adjustments in your lives to make that happen.

Some people enjoy putting all their effort into success at work and let that be their rationale for avoiding the real issues of life.

As far as I know no one has ever said on their deathbed "I wish I would have spent more time at the office".
+1. You don't want to wait too long to have kids, especially if you want to have them naturally.
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climber2020
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Re: Financially, how should I live a more sensible life?

Post by climber2020 »

How much do you spend in a year?

If it’s not much compared to your income, consider a less stressful job. I cut back my hours in my mid 30s and it made a huge difference in quality of life.
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Re: Financially, how should I live a more sensible life?

Post by 22twain »

Stackoverflow wrote: Mon Dec 06, 2021 11:35 pm I guess the only difference between 5m and 3m is more sense of financial security. We don't spend much. Actually our coat of living is almost same as when we were making 1/3 of our income today. But on the other hand, financial security seems something important to us, maybe due to we grow up in lower income families.
According to this calculator, with a net worth of $3 million you're in the 99th percentile (top 1%) of your age group (early 30s) in the US. Even if you were in your late 60s you'd still be in the 93rd percentile (top 7%). Of course, this includes all those people in the wastelands of flyover country. You may be comparing yourself to a different demographic.
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Re: Financially, how should I live a more sensible life?

Post by Parkinglotracer »

Having Money is being rich, using it to improve your life is prosperity. Success is a journey not a destination. Lots of platitudes apply here because they are true. You only live once, close your eyes and imagine yourself being old and on your death bed and talking to your self now - what would you say?

While it is THE biggest personal decision one makes I’d consider downshifting with one spouse going part time or not working and reduce the stress on your family. Living beneath your means allows you to continue to be a successful investor.

Congrats on your success to date. Money / investing is important but as we know it is just a store of value to allow us to live a better life.
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Re: Financially, how should I live a more sensible life?

Post by Wanderingwheelz »

Stackoverflow wrote: Mon Dec 06, 2021 11:35 pm
FraserFir wrote: Mon Dec 06, 2021 11:25 pm What will having 5 million in assets do for you that having 3 million in assets does not?

Are all jobs at your current levels as stressful as the ones you have now or are there companies known for similar or slightly lower levels of compensation and less stress?

I guess the only difference between 5m and 3m is more sense of financial security. We don't spend much. Actually our coat of living is almost same as when we were making 1/3 of our income today. But on the other hand, financial security seems something important to us, maybe due to we grow up in lower income families.

There are companies paying less (probably 10-20% less) but much less stressful. Maybe that's what's best for us?
If you don’t spend much now, it’s highly unlikely you’ll spend more when/if you reach $5MM. This is the mental illness associated with accumulating more and more wealth to the detriment of your health/best life.

My wife and I are spending even less than we did 15 year ago when we were 35, since we aren’t raising kids now.
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Re: Financially, how should I live a more sensible life?

Post by ScubaHogg »

You have enough money (and presumably skill sets) to do whatever you want. In your case it’s lower stress jobs and kids (which I whole heartedly endorse). So do those things!

I think you know the answer you want you are just hesitant to give up high paying jobs. I get that. But $5M isn’t going to make you feel anything that $3M doesn’t
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FraserFir
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Re: Financially, how should I live a more sensible life?

Post by FraserFir »

Stackoverflow wrote: Mon Dec 06, 2021 11:35 pm
FraserFir wrote: Mon Dec 06, 2021 11:25 pm
Are all jobs at your current levels as stressful as the ones you have now or are there companies known for similar or slightly lower levels of compensation and less stress?
There are companies paying less (probably 10-20% less) but much less stressful. Maybe that's what's best for us?
I'd at least take some interviews. My spouse moved from a not terribly stressful job but one that pissed him off routinely to an even lower stress job where he mostly doesn't dislike his co-workers and the difference at home was honestly astounding even though his hours didn't change much.

It's easy to think every job is as stressful as the one you have now when you're in the midst of a super high stress position but as much as it's surprising how similar two jobs can be it can also be astounding how different they can be too. Take a look, see what's out there, at least you'll know more than you do now.
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Re: Financially, how should I live a more sensible life?

Post by Jack FFR1846 »

I would propose that you don't change your job, but you change your behavior. I learned very early in my career that the super go-getters I worked with ended up with no more than me. Their 65 hours a week simply lowered their per hour pay. I committed very early to work my 8 hours a day unless there was a very rare reason that extra hours were needed, like we had a project that was due and we were late. In those cases, when the project was done, I'd not come in for the extra time spent on the project.

So get to work at 8. Take your hour lunch and go out for a walk. At 5:00 oclock, get up and leave. I did this for the majority of my career and have done quite well.

Thinking that another, lower paying job will be easier and less stress is likely wrong. I made that move once and found that the nice, new, lower paying job was by far the highest stress job I've ever had.
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Dave55
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Re: Financially, how should I live a more sensible life?

Post by Dave55 »

Stackoverflow wrote: Mon Dec 06, 2021 11:00 pm Hi BHs, I'm posting here to seek for some advice/suggestions for living a more sensible life financially. Because I think while I'm doing well financially, my life is probably leaning too much on making money and got over stressed.

Wife and I are both in early 30s, no kids. We are working on high stress high paying jobs in a high cost of living area. I currently make 0.7m annually, wife makes 0.3m annually. We have accumulated 3m assets, 60% in stock, 30% in primary residence equity, and 10% in cash/bond/gold/crypto. If we exclude the primary residence, it's a pretty high risk portfolio.

I'm not sure if we should stick to the high stress jobs. Honestly it's causing lots of problems: we are always tired after work, don't want to anything, and don't have the energy to have kids (although we do want to have kids). We both grow up from lower middle class families, we live frugally compare to our peers, and try to save as much as possible. We worked really hard to get to current compensation levels, and it's really hard to give up.

What would you do if you are in my position? Keep grinding and accumulate more assets (could probably achieve 5m in 3 years, and 10m in 8-10 years)? or switch to some less stressful lower paying job? or start my own business and pursue passion (most likely equivalent to much lower income)?
Are you and spouse getting exercise, eating healthy balanced meals and getting a good night of sleep overnight? As simple as this sounds, those 3 can make a difference in energy levels and stress management. If you are doing these, then maybe it is time to look elsewhere for less stressful jobs, with less emphasis on high compensation. You achieved big time already financially.

Dave
"Reality always wins, your only job is to get in touch with it." Wilfred Bion
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riverant
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Re: Financially, how should I live a more sensible life?

Post by riverant »

Of you’re not able to adjust your jobs to be less time consuming and stressful, I suggest you prioritize kids and find different employment. In less costly areas of the country, you are financially independent and even with 50%+ cuts in salary (though I don’t think you’d have to accept that), you’ll be all set to early retire in 10 years or so if you’d like. I think getting some perspective on how much 1m HHI really is will help make this clear.

I would strongly disagree with suggestions to double down on your career and have your wife stay home to raise your family. That sounds miserable for you and may cause resentment from your wife.
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Re: Financially, how should I live a more sensible life?

Post by Sandtrap »

Stackoverflow wrote: Mon Dec 06, 2021 11:00 pm Hi BHs, I'm posting here to seek for some advice/suggestions for living a more sensible life financially. Because I think while I'm doing well financially, my life is probably leaning too much on making money and got over stressed.

Wife and I are both in early 30s, no kids. We are working on high stress high paying jobs in a high cost of living area. I currently make 0.7m annually, wife makes 0.3m annually. We have accumulated 3m assets, 60% in stock, 30% in primary residence equity, and 10% in cash/bond/gold/crypto. If we exclude the primary residence, it's a pretty high risk portfolio.

I'm not sure if we should stick to the high stress jobs. Honestly it's causing lots of problems: we are always tired after work, don't want to anything, and don't have the energy to have kids (although we do want to have kids). We both grow up from lower middle class families, we live frugally compare to our peers, and try to save as much as possible. We worked really hard to get to current compensation levels, and it's really hard to give up.

What would you do if you are in my position? Keep grinding and accumulate more assets (could probably achieve 5m in 3 years, and 10m in 8-10 years)? or switch to some less stressful lower paying job? or start my own business and pursue passion (most likely equivalent to much lower income)?
OP:
All of the above depends on 2 things.

1. For you and your spouse, seperately; "What is your goal in life?"
2.
a) What is your goal as far as finances and lifestyle when you have 2 children going to middle school, high school?
b) What is your goals as far as finances and lifestyle when your children have left the university and you are a couple and retired?

Examples:
1. Couple "A" have the hearts and drive a Navy Seal (not an otter, sloth, rabbit) with high ambitions in finances, lifestyle, for self and family and future. And, thrive on career demands and life challenges.
They understand that this is the time and stage of life to shift into high gear. This is the middle of the heavyweight Title Fight.
Is this you?

2. Couple "B" have moderate ambitions in finances and lifestyles for self and family and future, preferring safety and security within a certain comfort zone and are not willing or able to leave that comfort zone. They drive the speed limit in the right hand lane all day year after year and are happy doing that.
Is this you?
(given your present successes and drive for education, etc. and remembering that being where you are is a result of that, I think not, you are not "average" per se.

3. Couple "C" is the opposite of Couple "A" and have a greater need for safety and security, and a well defined "comfort zone". They drive lower than the speed limit in the right hand lane of I-40 when most of the cars are going 15-20 mph over on certain stretches.
Is this you?

*Now, realize that each of the above #1-3 changes with stages of life. Or sometimes not.
Which one are you?
Where are you at now?
You have reached various life and financial "goal posts or milestones". . . do you need to "just pause" and redefine the "goals" for the next 5, 10, 20, 30 years? (Perhaps the actionable solution is not to take your foot of the gas but to do this)?

I hope this is helpful to you.
j :D

dis laimer: What other's would do in your situation is somewhat moot because they are not "you".
dislaimer: there are zillions of paths and opinonions on these things by zillions of people. This is just one.

OP: per your last question. Though I think it moot. At your age, I ran out of hours in a day. I had 3 companies that were thriving. So, I all but closed one of them, retargeted it to segue into the other 2, then focused on the other 2. But doing that, I gained a whole lot of extra time (though still not normal employee hours), and a lot less stress. That optimization also ended up better financially. So, you have to figure out what kind of career/life/lifestyle "restructuring, might work for "you" at this time.
FWIW: we are couple "A", so we pushed through every time we felt as you did, maybe even added more sails to the ship!

Actionably: per forum guidelines and moderates.
OP: How about posting a portfolio review in forum format? (would this help?)
Last edited by Sandtrap on Tue Dec 07, 2021 9:10 am, edited 1 time in total.
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Dave55
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Re: Financially, how should I live a more sensible life?

Post by Dave55 »

Sandtrap wrote: Tue Dec 07, 2021 7:50 am
Stackoverflow wrote: Mon Dec 06, 2021 11:00 pm Hi BHs, I'm posting here to seek for some advice/suggestions for living a more sensible life financially. Because I think while I'm doing well financially, my life is probably leaning too much on making money and got over stressed.

Wife and I are both in early 30s, no kids. We are working on high stress high paying jobs in a high cost of living area. I currently make 0.7m annually, wife makes 0.3m annually. We have accumulated 3m assets, 60% in stock, 30% in primary residence equity, and 10% in cash/bond/gold/crypto. If we exclude the primary residence, it's a pretty high risk portfolio.

I'm not sure if we should stick to the high stress jobs. Honestly it's causing lots of problems: we are always tired after work, don't want to anything, and don't have the energy to have kids (although we do want to have kids). We both grow up from lower middle class families, we live frugally compare to our peers, and try to save as much as possible. We worked really hard to get to current compensation levels, and it's really hard to give up.

What would you do if you are in my position? Keep grinding and accumulate more assets (could probably achieve 5m in 3 years, and 10m in 8-10 years)? or switch to some less stressful lower paying job? or start my own business and pursue passion (most likely equivalent to much lower income)?
OP:
All of the above depends on 2 things.

1. For you and your spouse, seperately; "What is your goal in life?"
2.
a) What is your goal as far as finances and lifestyle when you have 2 children going to middle school, high school?
b) What is your goals as far as finances and lifestyle when your children have left the university and you are a couple and retired?

Examples:
1. Couple "A" have the hearts and drive a Navy Seal (not an otter, sloth, rabbit) with high ambitions in finances, lifestyle, for self and family and future. And, thrive on career demands and life challenges.
They understand that this is the time and stage of life to shift into high gear. This is the middle of the heavyweight Title Fight.
Is this you?

2. Couple "B" have moderate ambitions in finances and lifestyles for self and family and future, preferring safety and security within a certain comfort zone and are not willing or able to leave that comfort zone. They drive the speed limit in the right hand lane all day year after year and are happy doing that.
Is this you?
(given your present successes and drive for education, etc. and remembering that being where you are is a result of that, I think not, you are not "average" per se.

3. Couple "C" is the opposite of Couple "A" and have a greater need for safety and security, and a well defined "comfort zone". They drive lower than the speed limit in the right hand lane of I-40 when most of the cars are going 15-20 mph over on certain stretches.
Is this you?

*Now, realize that each of the above #1-3 changes with stages of life. Or sometimes not.
Which one are you?
Where are you at now?
You have reached various life and financial "goal posts or milestones". . . do you need to "just pause" and redefine the "goals" for the next 5, 10, 20, 30 years? (Perhaps the actionable solution is not to take your foot of the gas but to do this)?

I hope this is helpful to you.
j :D

dis laimer: What other's would do in your situation is somewhat moot because they are not "you".
dislaimer: there are zillions of paths and opinonions on these things by zillions of people. This is just one.

OP: per your last question. Though I think it moot. At your age, I ran out of hours in a day. I had 3 companies that were thriving. So, I all but closed one of them, retargeted it to segue into the other 2, then focused on the other 2. But doing that, I gained a whole lot of extra time (though still not normal employee hours), and a lot less stress. That optimization also ended up better financially. So, you have to figure out what kind of career/life/lifestyle "restructuring, might work for "you" at this time.
FWIW: we are couple "A", so we pushed through every time we felt as you did, maybe even added more sails to the ship!

Actionably: per forum guidelines and moderates.
OP: How about posting a portfolio review in forum format? (would this help?)
Jim, great questions to ask oneself and excellent points!

Dave
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Late2Brake
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Re: Financially, how should I live a more sensible life?

Post by Late2Brake »

Jack FFR1846 wrote: Tue Dec 07, 2021 7:36 am I would propose that you don't change your job, but you change your behavior. I learned very early in my career that the super go-getters I worked with ended up with no more than me. Their 65 hours a week simply lowered their per hour pay. I committed very early to work my 8 hours a day unless there was a very rare reason that extra hours were needed, like we had a project that was due and we were late. In those cases, when the project was done, I'd not come in for the extra time spent on the project.

So get to work at 8. Take your hour lunch and go out for a walk. At 5:00 oclock, get up and leave. I did this for the majority of my career and have done quite well.

Thinking that another, lower paying job will be easier and less stress is likely wrong. I made that move once and found that the nice, new, lower paying job was by far the highest stress job I've ever had.
^^^ This it what I did in my career. The only thing I would add is that you need to be the best at what you do. And go to work each day with the very best attitude ... better at both than anyone else around you.
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Sandtrap
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Re: Financially, how should I live a more sensible life?

Post by Sandtrap »

Dave55 wrote: Tue Dec 07, 2021 7:39 am
Stackoverflow wrote: Mon Dec 06, 2021 11:00 pm Hi BHs, I'm posting here to seek for some advice/suggestions for living a more sensible life financially. Because I think while I'm doing well financially, my life is probably leaning too much on making money and got over stressed.

Wife and I are both in early 30s, no kids. We are working on high stress high paying jobs in a high cost of living area. I currently make 0.7m annually, wife makes 0.3m annually. We have accumulated 3m assets, 60% in stock, 30% in primary residence equity, and 10% in cash/bond/gold/crypto. If we exclude the primary residence, it's a pretty high risk portfolio.

I'm not sure if we should stick to the high stress jobs. Honestly it's causing lots of problems: we are always tired after work, don't want to anything, and don't have the energy to have kids (although we do want to have kids). We both grow up from lower middle class families, we live frugally compare to our peers, and try to save as much as possible. We worked really hard to get to current compensation levels, and it's really hard to give up.

What would you do if you are in my position? Keep grinding and accumulate more assets (could probably achieve 5m in 3 years, and 10m in 8-10 years)? or switch to some less stressful lower paying job? or start my own business and pursue passion (most likely equivalent to much lower income)?
Are you and spouse getting exercise, eating healthy balanced meals and getting a good night of sleep overnight? As simple as this sounds, those 3 can make a difference in energy levels and stress management. If you are doing these, then maybe it is time to look elsewhere for less stressful jobs, with less emphasis on high compensation. You achieved big time already financially.

Dave
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fuddbogle
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Re: Financially, how should I live a more sensible life?

Post by fuddbogle »

I can tell you how it worked for us. My wife went part-time and told me to get in the bedroom, now, her clock was ticking. True story.

She stayed part-time until our youngest was in 2nd grade.

I also made a fraction of what you make (but also less stress). Given your savings I don't see why your wife is working right now given your goals. See how it works if she doesn't work outside the home. If it works for you two, great, if not, continue to adjust until you find what does work.

I wouldn't wait around and continue to analyze, start making adjustments now and see what works. You both seem highly motivated and educated so I wouldn't concern myself too much with getting back into the workforce.
Last edited by fuddbogle on Tue Dec 07, 2021 8:28 am, edited 1 time in total.
BlueCable
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Re: Financially, how should I live a more sensible life?

Post by BlueCable »

Late2Brake wrote: Tue Dec 07, 2021 8:06 am
^^^ This it what I did in my career. The only thing I would add is that you need to be the best at what you do. And go to work each day with the very best attitude ... better at both than anyone else around you.
I disagree with this. This is the attitude that drives burnout and the feelings the OP feels. By definition, not everyone can be the best at something. If the cost of trying to be the best is the destruction of your personal life, it is big worth it. There's nothing evil about being content with doing good or great work.

Things that are more constructive: learn something everyday, get better everyday, grow someone else everyday, do the best you can in sustainable hours.
Caduceus
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Re: Financially, how should I live a more sensible life?

Post by Caduceus »

If you can get to 5 million in 3 years, toughing it out for another three years sounds like it may be worth it, and then you can re-assess at that point. Of course try not to burn yourself out, and if there are serious mental health issues, no amount of work will be worth the risk/cost of continuing; but work is a privilege too, even when it's not easy.
JnyVuko
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Re: Financially, how should I live a more sensible life?

Post by JnyVuko »

Stackoverflow wrote: Mon Dec 06, 2021 11:00 pm Hi BHs, I'm posting here to seek for some advice/suggestions for living a more sensible life financially. Because I think while I'm doing well financially, my life is probably leaning too much on making money and got over stressed.

Wife and I are both in early 30s, no kids. We are working on high stress high paying jobs in a high cost of living area. I currently make 0.7m annually, wife makes 0.3m annually. We have accumulated 3m assets, 60% in stock, 30% in primary residence equity, and 10% in cash/bond/gold/crypto. If we exclude the primary residence, it's a pretty high risk portfolio.

I'm not sure if we should stick to the high stress jobs. Honestly it's causing lots of problems: we are always tired after work, don't want to anything, and don't have the energy to have kids (although we do want to have kids). We both grow up from lower middle class families, we live frugally compare to our peers, and try to save as much as possible. We worked really hard to get to current compensation levels, and it's really hard to give up.

What would you do if you are in my position? Keep grinding and accumulate more assets (could probably achieve 5m in 3 years, and 10m in 8-10 years)? or switch to some less stressful lower paying job? or start my own business and pursue passion (most likely equivalent to much lower income)?
Everybody's situation and goals are different. What do you want from life? If you want kids, now is a good time to plan. I worked like you did and waited and in many ways, wish I didn't. Now, I'm an older, financially secure dad. Retired early but not as much energy for the kid thing. Do you enjoy your work? Does your wife? If one of you stops or changes career, will either of you be resentful? Things to consider. Bravo to you on the financially rewarding part of your career and for saving now. If not, you wouldn't even be able to ask the questions you're asking. But it really comes down to what you and your wife want from life. I agree with another poster, now that I'm older I'm not saying I wish I worked harder and for longer. I miss some of it, but not most of it. But above all, keep saving and managing your money because through it you have security. I'm enjoying my early retirement now because I began saving in my 20s. All the best to you and your wife.
carminered2019
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Re: Financially, how should I live a more sensible life?

Post by carminered2019 »

Aim for 30x and a paid off house then review it again.
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Sandtrap
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Re: Financially, how should I live a more sensible life?

Post by Sandtrap »

JnyVuko wrote: Tue Dec 07, 2021 9:06 am
Stackoverflow wrote: Mon Dec 06, 2021 11:00 pm Hi BHs, I'm posting here to seek for some advice/suggestions for living a more sensible life financially. Because I think while I'm doing well financially, my life is probably leaning too much on making money and got over stressed.

Wife and I are both in early 30s, no kids. We are working on high stress high paying jobs in a high cost of living area. I currently make 0.7m annually, wife makes 0.3m annually. We have accumulated 3m assets, 60% in stock, 30% in primary residence equity, and 10% in cash/bond/gold/crypto. If we exclude the primary residence, it's a pretty high risk portfolio.

I'm not sure if we should stick to the high stress jobs. Honestly it's causing lots of problems: we are always tired after work, don't want to anything, and don't have the energy to have kids (although we do want to have kids). We both grow up from lower middle class families, we live frugally compare to our peers, and try to save as much as possible. We worked really hard to get to current compensation levels, and it's really hard to give up.

What would you do if you are in my position? Keep grinding and accumulate more assets (could probably achieve 5m in 3 years, and 10m in 8-10 years)? or switch to some less stressful lower paying job? or start my own business and pursue passion (most likely equivalent to much lower income)?
Everybody's situation and goals are different. What do you want from life? If you want kids, now is a good time to plan. I worked like you did and waited and in many ways, wish I didn't. Now, I'm an older, financially secure dad. Retired early but not as much energy for the kid thing. Do you enjoy your work? Does your wife? If one of you stops or changes career, will either of you be resentful? Things to consider. Bravo to you on the financially rewarding part of your career and for saving now. If not, you wouldn't even be able to ask the questions you're asking. But it really comes down to what you and your wife want from life. I agree with another poster, now that I'm older I'm not saying I wish I worked harder and for longer. I miss some of it, but not most of it. But above all, keep saving and managing your money because through it you have security. I'm enjoying my early retirement now because I began saving in my 20s. All the best to you and your wife.
Great points. . from real life experience.
Well said.
Deserves to be printed out by the OP and taped to the office, or bathroom, door.

Aloha
j :D
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dknightd
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Re: Financially, how should I live a more sensible life?

Post by dknightd »

I would plan to take a 2-4 week vacation with my spouse. Talk about it
Retired 2019. So far, so good. I want to wake up every morning. But I want to die in my sleep. Just another conundrum. I think the solution might be afternoon naps ;)
binvesting
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Re: Financially, how should I live a more sensible life?

Post by binvesting »

Late 30s here, we have 2 kids, and the two of us work make exactly half of op family pay, and networth is 60% of op, living in hcol, so sharing my 2 cents.
We come from lower income families as well, and I understand how and why financial security is paramount.

While career opportunities that are lost (ex: slow growth vs peers, passed on for promos etc) can be got later, biology of having kids or having the enthusiasm/energy to raise young ones might wane as time goes on, and can't be easily recaptured.

I have high admiration for the over-achievers at work, and op sounds like one, so congrats for your success.
But just keep in mind that a 32 year old first time parent is very different from a 40 year old first time parent, for ex (both good and bad).
Good luck op!!
runner540
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Re: Financially, how should I live a more sensible life?

Post by runner540 »

Stackoverflow wrote: Mon Dec 06, 2021 11:00 pm Hi BHs, I'm posting here to seek for some advice/suggestions for living a more sensible life financially. Because I think while I'm doing well financially, my life is probably leaning too much on making money and got over stressed.

Wife and I are both in early 30s, no kids. We are working on high stress high paying jobs in a high cost of living area. I currently make 0.7m annually, wife makes 0.3m annually. We have accumulated 3m assets, 60% in stock, 30% in primary residence equity, and 10% in cash/bond/gold/crypto. If we exclude the primary residence, it's a pretty high risk portfolio.

I'm not sure if we should stick to the high stress jobs. Honestly it's causing lots of problems: we are always tired after work, don't want to anything, and don't have the energy to have kids (although we do want to have kids). We both grow up from lower middle class families, we live frugally compare to our peers, and try to save as much as possible. We worked really hard to get to current compensation levels, and it's really hard to give up.

What would you do if you are in my position? Keep grinding and accumulate more assets (could probably achieve 5m in 3 years, and 10m in 8-10 years)? or switch to some less stressful lower paying job? or start my own business and pursue passion (most likely equivalent to much lower income)?
It sounds like you are asking for permission to make less money, leave some compensation on the table, to get more life. (Spending time together with or without kids) You have permission.
If you’re not happy or satisfied with $3M, why will $5 or 10 be different?
You both need to take a real vacation, reflect on your purpose in life besides accumulating assets, and decide what to do next.
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Watty
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Re: Financially, how should I live a more sensible life?

Post by Watty »

One thing to look at doing is to getting professional counseling to figure out how to deal with the stress.

Being under a lot of stress like that is not good for you and if you work with a counselor they may be able to help you figure out how to manage and reduce the stress.

You may need to meet with several counselors to find one that is right for you so do not give up if you do not like your first counselor.

Professional counseling may help you keep your marriage working so in addition to individual counseling you may want to get couples counseling. If you do have a baby while you are both under a lot of stress from work that can real hard on a marriage.

Making your marriage work should be a lot more important than any other consideration. Even if your marriage does not work out you will be glad if you can look back and know that you did everything possible to make it work, or that getting divorced was the right decision.

It would also be good to consider taking sabbaticals from work for a few months to decompress and get some better prospective. You may have been under pressure with your careers for so long that you have forgotten what not being under pressure is like. Be cautious about planning some overly active trip since if you are too active you will not decompress.

You will also need to actually leave the work behind and not take lots of calls or emails when you are on sabbatical. Just knowing your cell phone might ring or beep at any time with a work email may prevent you from really relaxing. Do not check for emails or voicemails more than once a day, if that.

You may not think that the companies could get by without you for more than a few days but if you were in a car accident and in the hospital for two months the company would do just fine. I saw things like happen at least a dozen times before I retired, the company always did just fine. Likewise if you gave your two weeks notice and then left the company would do fine too. I saw that happen hundreds of times and the company always did just fine. Even if sabbaticals are not common at your companies they can get by just fine if you schedule your time out of the office a few months in advance.

I have found that it takes at least three weeks out of the office to even begin to really relax. It usually takes me about a week to stop thinking about work. The second week I am likely in a high gear vacation mode, and sometime in the third week I will will actually start to relax. If you have not had at least a three week vacation since you started working you may not know what you are missing. Try to take a least a month off, six weeks or more would be better.

With your "Stackoverflow" user name I would assume that you have some sort of tech job, if so then arranging a sabbatical should be very possible even if your company does not have a formal sabbatical program.

[quote=Stackoverflow post_id=6369446 time=1638855317 user_id=180557]
There are companies paying less (probably 10-20% less) but much less stressful. Maybe that's what's best for us?
[/quote]

Look at that AFTER TAX dollar terms not percentages. If you gross $100K less then after taxes the difference may be something like $50K after taxes. That is practically a rounding error in your financial situation.

Figuring out the tax impact will be more complicated than just looking at your tax bracket since you will also have things like Medicare surcharges and NIIT. You may need to ask your tax preparer to figure this out.

One risk is that a lot of stress is self inflicted by not being able to delegate responsibility, say "No" to some job tasks, or limit your work hours. You might take a job that could be less stressful but then end up making it just as stressful as your current jobs since that is the only way you know to work. Most companies will keep giving you more and more responsibility if you are doing a good job so a non-stressful job will quickly become stressful if you are not able to say "No" to that.
tedgeorge
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Re: Financially, how should I live a more sensible life?

Post by tedgeorge »

I always struggle with remembering the number is not the goal. The goal is living the life you want. If you really want kids, then really talk about what that looks like and what you want. A long vacation may be the best to unwind a bit and talk about it.

I never really thought about a lot of these things until I was laid off and had ample time without work distractions to start thinking about what I would do after work. It's hard to step back when you are in the whirlwind of work and too busy to think.
59Gibson
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Re: Financially, how should I live a more sensible life?

Post by 59Gibson »

You two are making combined $1M/yr, I'd try to ride that out until they told me to leave, even if you slack off. BTW $3M sounds low considering your heavy in stocks, RE, crypto and making 1M/yr. What are your expenses, when did you start making big income?
cs412a
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Re: Financially, how should I live a more sensible life?

Post by cs412a »

Watty wrote: Tue Dec 07, 2021 9:42 am One thing to look at doing is to getting professional counseling to figure out how to deal with the stress.

Being under a lot of stress like that is not good for you and if you work with a counselor they may be able to help you figure out how to manage and reduce the stress.

You may need to meet with several counselors to find one that is right for you so do not give up if you do not like your first counselor.

Professional counseling may help you keep your marriage working so in addition to individual counseling you may want to get couples counseling. If you do have a baby while you are both under a lot of stress from work that can real hard on a marriage.

Making your marriage work should be a lot more important than any other consideration. Even if your marriage does not work out you will be glad if you can look back and know that you did everything possible to make it work, or that getting divorced was the right decision.

It would also be good to consider taking sabbaticals from work for a few months to decompress and get some better prospective. You may have been under pressure with your careers for so long that you have forgotten what not being under pressure is like. Be cautious about planning some overly active trip since if you are too active you will not decompress.

You will also need to actually leave the work behind and not take lots of calls or emails when you are on sabbatical. Just knowing your cell phone might ring or beep at any time with a work email may prevent you from really relaxing. Do not check for emails or voicemails more than once a day, if that.

You may not think that the companies could get by without you for more than a few days but if you were in a car accident and in the hospital for two months the company would do just fine. I saw things like happen at least a dozen times before I retired, the company always did just fine. Likewise if you gave your two weeks notice and then left the company would do fine too. I saw that happen hundreds of times and the company always did just fine. Even if sabbaticals are not common at your companies they can get by just fine if you schedule your time out of the office a few months in advance.

I have found that it takes at least three weeks out of the office to even begin to really relax. It usually takes me about a week to stop thinking about work. The second week I am likely in a high gear vacation mode, and sometime in the third week I will will actually start to relax. If you have not had at least a three week vacation since you started working you may not know what you are missing. Try to take a least a month off, six weeks or more would be better.

With your "Stackoverflow" user name I would assume that you have some sort of tech job, if so then arranging a sabbatical should be very possible even if your company does not have a formal sabbatical program.
Stackoverflow wrote: Mon Dec 06, 2021 11:35 pm There are companies paying less (probably 10-20% less) but much less stressful. Maybe that's what's best for us?
Look at that AFTER TAX dollar terms not percentages. If you gross $100K less then after taxes the difference may be something like $50K after taxes. That is practically a rounding error in your financial situation.

Figuring out the tax impact will be more complicated than just looking at your tax bracket since you will also have things like Medicare surcharges and NIIT. You may need to ask your tax preparer to figure this out.

One risk is that a lot of stress is self inflicted by not being able to delegate responsibility, say "No" to some job tasks, or limit your work hours. You might take a job that could be less stressful but then end up making it just as stressful as your current jobs since that is the only way you know to work. Most companies will keep giving you more and more responsibility if you are doing a good job so a non-stressful job will quickly become stressful if you are not able to say "No" to that.
OP, This^^^

Personally, as a woman, I cringe at the posters who say, "have your wife stay home and take care of the kids".
tibbitts
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Re: Financially, how should I live a more sensible life?

Post by tibbitts »

Late2Brake wrote: Tue Dec 07, 2021 8:06 am ^^^ This it what I did in my career. The only thing I would add is that you need to be the best at what you do. And go to work each day with the very best attitude ... better at both than anyone else around you.
That's crazy. Virtually all of us have to figure out how to be content with being just okay at what we do, because that's all we could ever be regardless of time/effort/whatever.
chassis
Posts: 2172
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Re: Financially, how should I live a more sensible life?

Post by chassis »

Stackoverflow wrote: Mon Dec 06, 2021 11:00 pm Hi BHs, I'm posting here to seek for some advice/suggestions for living a more sensible life financially. Because I think while I'm doing well financially, my life is probably leaning too much on making money and got over stressed.

Wife and I are both in early 30s, no kids. We are working on high stress high paying jobs in a high cost of living area. I currently make 0.7m annually, wife makes 0.3m annually. We have accumulated 3m assets, 60% in stock, 30% in primary residence equity, and 10% in cash/bond/gold/crypto. If we exclude the primary residence, it's a pretty high risk portfolio.

I'm not sure if we should stick to the high stress jobs. Honestly it's causing lots of problems: we are always tired after work, don't want to anything, and don't have the energy to have kids (although we do want to have kids). We both grow up from lower middle class families, we live frugally compare to our peers, and try to save as much as possible. We worked really hard to get to current compensation levels, and it's really hard to give up.

What would you do if you are in my position? Keep grinding and accumulate more assets (could probably achieve 5m in 3 years, and 10m in 8-10 years)? or switch to some less stressful lower paying job? or start my own business and pursue passion (most likely equivalent to much lower income)?
@Stackoverflow most people experience what you are experiencing.

Do you have a spiritual dimension to your life?

If yes, spend more time developing it.

If no, start one.

All of your questions will be answered in due course of time.
Late2Brake
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Re: Financially, how should I live a more sensible life?

Post by Late2Brake »

tibbitts wrote: Tue Dec 07, 2021 10:28 am
Late2Brake wrote: Tue Dec 07, 2021 8:06 am ^^^ This it what I did in my career. The only thing I would add is that you need to be the best at what you do. And go to work each day with the very best attitude ... better at both than anyone else around you.
That's crazy. Virtually all of us have to figure out how to be content with being just okay at what we do, because that's all we could ever be regardless of time/effort/whatever.
I must be crazy. I have always worked to be the best at what I do. And have a good attitude at the same time. But at 5:00 I turned work off (best I could) and turned family on.
tibbitts
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Re: Financially, how should I live a more sensible life?

Post by tibbitts »

Late2Brake wrote: Tue Dec 07, 2021 10:40 am
tibbitts wrote: Tue Dec 07, 2021 10:28 am
Late2Brake wrote: Tue Dec 07, 2021 8:06 am ^^^ This it what I did in my career. The only thing I would add is that you need to be the best at what you do. And go to work each day with the very best attitude ... better at both than anyone else around you.
That's crazy. Virtually all of us have to figure out how to be content with being just okay at what we do, because that's all we could ever be regardless of time/effort/whatever.
I must be crazy. I have always worked to be the best at what I do. And have a good attitude at the same time. But at 5:00 I turned work off (best I could) and turned family on.
You're only crazy if you believe you actually are the best at what you do, not if you merely wish you were. There's a big difference between trying to do the best you feel you reasonably can (within constraints like your 5pm example, not to mention limited skill/talent/etc.), and pretending that's going to be anywhere in realm of the best anyone could do.
ThankYouJack
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Re: Financially, how should I live a more sensible life?

Post by ThankYouJack »

Stackoverflow wrote: Mon Dec 06, 2021 11:00 pm

I'm not sure if we should stick to the high stress jobs. Honestly it's causing lots of problems: we are always tired after work, don't want to anything, and don't have the energy to have kids (although we do want to have kids).
I definitely think it's time for a change based on this. Try not to fall into the golden handcuff / one more year / I need more money/financial security mentality. Try to shift to feeling of being blessed with tremendous wealth and how can you best utilize it so you can live the life you want to live. Don't continue with a daily, exhausting grind.

Now is the time is to take advantage before you have any major regrets. Best of luck!
JnyVuko
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Re: Financially, how should I live a more sensible life?

Post by JnyVuko »

Sandtrap wrote: Tue Dec 07, 2021 9:12 am
JnyVuko wrote: Tue Dec 07, 2021 9:06 am
Stackoverflow wrote: Mon Dec 06, 2021 11:00 pm
What would you do if you are in my position? Keep grinding and accumulate more assets (could probably achieve 5m in 3 years, and 10m in 8-10 years)? or switch to some less stressful lower paying job? or start my own business and pursue passion (most likely equivalent to much lower income)?
Everybody's situation and goals are different. What do you want from life? If you want kids, now is a good time to plan. I worked like you did and waited and in many ways, wish I didn't. Now, I'm an older, financially secure dad. Retired early but not as much energy for the kid thing. Do you enjoy your work? Does your wife? If one of you stops or changes career, will either of you be resentful? Things to consider. Bravo to you on the financially rewarding part of your career and for saving now. If not, you wouldn't even be able to ask the questions you're asking. But it really comes down to what you and your wife want from life. I agree with another poster, now that I'm older I'm not saying I wish I worked harder and for longer. I miss some of it, but not most of it. But above all, keep saving and managing your money because through it you have security. I'm enjoying my early retirement now because I began saving in my 20s. All the best to you and your wife.
Great points. . from real life experience.
Well said.
Deserves to be printed out by the OP and taped to the office, or bathroom, door.

Aloha
j :D
Mahalo, Sandtrap.
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HomerJ
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Re: Financially, how should I live a more sensible life?

Post by HomerJ »

Late2Brake wrote: Tue Dec 07, 2021 10:40 am I must be crazy. I have always worked to be the best at what I do.
You may doing the best you can (i.e. giving your full effort), but it's unlikely that you are the best at what you do.

To quote Highlander: There can be only one.
"The best tools available to us are shovels, not scalpels. Don't get carried away." - vanBogle59
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Wiggums
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Re: Financially, how should I live a more sensible life?

Post by Wiggums »

Work and life balance is very important. It is also easier to get pregnant in your 30s and this carries a smaller risk of something going wrong with the pregnancy. Take time off from work and figure out the best plan for your family.
"I started with nothing and I still have most of it left."
Mike Scott
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Re: Financially, how should I live a more sensible life?

Post by Mike Scott »

It's about personal priorities. You can stay in the 1% or you could stop working today and early retire to a lower cost of living area at about the national average income level using a perpetual withdrawal rate. There are a million intermediate pathways depending on what you really want.
sureshoe
Posts: 2164
Joined: Tue Jan 15, 2019 3:26 pm

Re: Financially, how should I live a more sensible life?

Post by sureshoe »

Kids make things so much harder unless you're just going to pay a lot of help. Just remember, you can't get these years back. These are all very personal decisions.

I would explore any sort of part-time options, probably not something that works for you.

The more you work, the more you have - but you can't buy years. So fundamentally, you have to figure out how much money is "enough" for you to cutback. Do you want to be 50 years old with $10M? I struggle with this question, and we don't make half of what you make - and I already feel like I'm getting close to having "too much".
chipperd
Posts: 1674
Joined: Sat Sep 24, 2011 5:58 am
Location: here and now

Re: Financially, how should I live a more sensible life?

Post by chipperd »

DIYtrixie wrote: Tue Dec 07, 2021 3:16 am
Stackoverflow wrote: Mon Dec 06, 2021 11:35 pm
FraserFir wrote: Mon Dec 06, 2021 11:25 pm What will having 5 million in assets do for you that having 3 million in assets does not?

Are all jobs at your current levels as stressful as the ones you have now or are there companies known for similar or slightly lower levels of compensation and less stress?

I guess the only difference between 5m and 3m is more sense of financial security. We don't spend much. Actually our coat of living is almost same as when we were making 1/3 of our income today. But on the other hand, financial security seems something important to us, maybe due to we grow up in lower income families.

There are companies paying less (probably 10-20% less) but much less stressful. Maybe that's what's best for us?
Given your high salaries and low annual expenses, a 10-20% haircut to enable you and your spouse to achieve major life goals like having and raising children seems like a very small price to pay.
+1
"A portfolio is like a bar of soap, the more it's handled, the less there is." Dr. William Bernstein
chris319
Posts: 1659
Joined: Thu Jan 28, 2021 5:04 pm

Re: Financially, how should I live a more sensible life?

Post by chris319 »

Do you love your work? Does it bring you any psychological enjoyment, pleasure, satisfaction or gratification despite the stress? If the answer is "no", that tells you something right there.

By the time I retired my former job had turned into a hellhole and a stressful one at that. My boss was Little Hitler who used to run around hollering at people. Enough was enough and the timing worked out perfectly with Medicare and soc. sec. Now I ask myself, if I had the opportunity to go back to my old job, would I? No way in Hades!
Financial decisions based on emotion often turn out to be bad decisions.
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