Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 08-06-2007, 10:22 AM   #41
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Quote:
Originally Posted by ladelfina View Post
The funny thing about the tone of the article is its underlying and either cynical or unintentional ambiguity -- there's some kind of weird, barely-suppressed sympathy for these "poor people"..
I think these articles try to tell us that we should be happy with what we have (that is, we have enough) since the riches are miserable dealing with their wants.
__________________

__________________
Spanky is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-06-2007, 11:52 AM   #42
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
my father's side comes from very wealthy stock & my mother's side from well-off professionals & merchants. i don't know a soul on my father's side (actually i'm finally going to meet--out of, mostly, curiosity-my dad's first cousin this summer & i've recently started emailing a cousin i found from my generation) yet i know all my mother's relatives (at one time there were more than 60 of us on that side).

this was all i needed to know about great wealth. it never did anything for me. all the love in my life has come from my less wealthy relatives. i've got just enough money to have early retired and i'm happy with neither need nor desire for more. i'm a happy lazy good for nothing bum.
__________________

__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum is offline   Reply With Quote
Old 08-06-2007, 12:58 PM   #43
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 1,543
Quote:
Originally Posted by ladelfina View Post
The funny thing about the tone of the article is its underlying and either cynical or unintentional ambiguity -- there's some kind of weird, barely-suppressed sympathy for these "poor people"..

If you are ever tempted to look at the NYT home/garden/travel/technology sections.. the über-rich lifestyle is basically the only one presented. Sometimes it's fun to peruse but usually the consumption promoted is beyond grotesque. It's their bread and butter, being based in the only place more expensive than the Bay area and with a similar wealthy audience.. but still most of their wealth porn is way beyond the means of even the "average" Manhattanite NYT reader.
NY Times is probably the snobbiest newspaper in the NYC area. back in 2001 they were profiling laid off professionals after the dot com collapse who were making $150,000 and up and one complaint was the wife couldn't shop at Whole Foods anymore. This was also back when Whole Foods was a lot more expensive on almost everything they sold unlike now.

otherwise the NY Times complains how bad "working class" people have it on one page and the next is the hottest new place in The Hamptons or what kind of home you get for $2 million
__________________
al_bundy is offline   Reply With Quote
Send him the 4%SWR article
Old 08-06-2007, 01:21 PM   #44
Recycles dryer sheets
 
Join Date: Jan 2007
Posts: 284
Send him the 4%SWR article

Someone needs to send that economizing engineer ( Mr. Wilson) the article about 4%SWR.

On $1.5 mill, I come up with $60,000. Nice, but in that area, not even middle class.
__________________
A854321 is offline   Reply With Quote
Old 08-06-2007, 03:36 PM   #45
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,266
Quote:
Originally Posted by cute fuzzy bunny View Post
How about this one?

http://www.mercurynews.com/business/ci_6175386

I worked for this guy for 3 years back in the late 80's/early 90's. After moving to silicon valley and taking the head honcho job at brocade, he was worth a billion dollars.

Not enough. He had to fool around with the numbers a bit. Allegedly.

I sincerely hope he doesnt go to jail, he's not really an evil guy. Cocky, arrogant, and I'm not sure I ever really saw a high caliber talent in him, but not a criminal type.

Poor guy looks like crap. He's younger than I am and he looks 15-20 years older.
AHHH.... now we know how CFB got all his money


Reading the article... it seems (like a lot of people) that the coverup is the thing that will send him to jail.... if he had been upfront and gotten approval, then no harm.... also sounds like he lied to them when asked... arrogance will do that to you.. look at Martha...
__________________
Texas Proud is offline   Reply With Quote
Old 08-06-2007, 06:25 PM   #46
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Quote:
Originally Posted by A854321 View Post
Someone needs to send that economizing engineer ( Mr. Wilson) the article about 4%SWR.

On $1.5 mill, I come up with $60,000. Nice, but in that area, not even middle class.
It may be enough to pay the basics of living. Personally, I would rather move into a more affordable area.
__________________
Spanky is offline   Reply With Quote
Old 08-06-2007, 09:22 PM   #47
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
Quote:
Originally Posted by Spanky View Post
There are other parts of the country, e.g., AUSTIN, SEATTLE, RALEIGH-DURHAM, Boston, WASHINGTON, DC, LOS ANGELES, that host many high tech companies. The cost of living (except for Boston, Washington DC , and LA) is a lot more affordable.
True, but in those places technology is just one industry. In Silicon Valley, technology is not only the business but it is the lifestyle. The entire ecosystem is supportive of new ideas and new companies. For instance during the height of the bubble. An entrepeneur could not only easily get funding from local venture capitalist or angel investor, but he could rent office space, hire an attorney, a PR firm, the CPA, and even get food from the local restaurant in exchange for stock options.

Not saying obsession with technology is entirely a good thing in Silicon Valley, but it is unique.
__________________
clifp is offline   Reply With Quote
Old 08-06-2007, 09:29 PM   #48
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 8,618
Quote:
Originally Posted by clifp View Post
True, but in those places technology is just one industry. In Silicon Valley, technology is not only the business but it is the lifestyle. The entire ecosystem is supportive of new ideas and new companies.
Something similar occurs in San Diego (and South San Francisco) with the biotech industry that is hard to replicate. Basically there are plenty of people in the field that love the area and will stick around even if their employer folds because they know another job awaits them at another start-up. My observation is that locales that try to imitate San Diego for biotech just can't get started because they cannot get enough mass to allow for the churning of jobs that occurs where failure is routine.
__________________
LOL! is offline   Reply With Quote
Old 08-06-2007, 09:40 PM   #49
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Quote:
Originally Posted by clifp View Post
Not saying obsession with technology is entirely a good thing in Silicon Valley, but it is unique.
You are right that Silicon Valley is unique and opportunities for entrepreneurship are rampant. The area has other businesses as well, i.e., financial services (in San Francisco). Diversity is also welcomed. It's truly a melting pot. I would encourage my daughter to start her career in the Bay Area or anywhere in the west coast after graduation from college.
__________________
Spanky is offline   Reply With Quote
Old 08-06-2007, 09:58 PM   #50
Recycles dryer sheets
 
Join Date: Oct 2005
Posts: 325
I have $5M @ 25 and I am always looking for ways to get more, either through investments or perhaps even another internet venture to start-up.

Call it what you want but when you have $5M it seems like everything will be so much more secure @ $10M. When I have $10M, I'll probably be saying, man I just need another few million and I'll be set, LOL.

Hey, 50 - 70+ years of inflation is a long time.

Plus, it'd be cool to not have to fly commercial anymore
__________________
CybrMike is offline   Reply With Quote
Old 08-06-2007, 10:07 PM   #51
Recycles dryer sheets
figner's Avatar
 
Join Date: Jan 2007
Location: Los Angeles area
Posts: 329
Quote:
Originally Posted by kramer View Post
As I have stated before, Silicon Valley can make a lot of sense for the single person who lives below their means. In other words, for anyone who does not spend most of their salary. For such a person, it makes sense to go to the places with the highest salaries.

My last few years I was spending less than 20% of my gross salary income, even including international trips (which I did cheaply). Unfortunately, taxes (including FICA, medicare, fed/state income, state disability tax) were another 30% or so.
Kramer, seems like I'm following in your footsteps... renting in LA for about the same amount while stashing a decent percentage of my salary from IT work. Taxes are my biggest expense as well. I like reading your posts 'cause I hope I'm just a few years behind you!
__________________
figner is offline   Reply With Quote
Old 08-07-2007, 12:00 AM   #52
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 1,152
Quote:
Originally Posted by figner View Post
Kramer, seems like I'm following in your footsteps... renting in LA for about the same amount while stashing a decent percentage of my salary from IT work. Taxes are my biggest expense as well. I like reading your posts 'cause I hope I'm just a few years behind you!
Hey figner, I wish you the best! I could not believe how fast FI came on. I went from zero net worth to having a nice enough pile to semi-retire in just 9 years. And very little came from stock options (in fact, my total after tax stock option take was less than my school loan debt) -- it was just LBYM, stashing away regular savings and investing virtually everything in index funds. Of course, it is unlikely that future market returns will be nearly as good, but you never know.

My only advice right now is to guard yourself from burnout. I got burned out and had to drop out early -- in retrospect, it would have been wiser to change jobs a couple of years beforehand to avoid burnout -- but I kept hoping for the generous layoff package in my current job and I didn't have the confidence and willingness to move around when I was making so much money just staying in place. So, it would have been nice to save for a couple more years, but I just couldn't take it anymore. However, I have absolutely no regrets. I am leaving in just a few weeks for my first FIRE safari, Asia, for a trip that I hope lasts four to six months.

Kramer
__________________

__________________
kramer is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Advice on a good $10 bottle wine streamjp Other topics 30 07-22-2007 12:21 AM
Ted's Montana Grill - good $10 coupon dex FIRE and Money 5 04-17-2007 08:33 PM
Vanguard's $10 fee a FIRE and Money 23 02-08-2007 01:02 PM
Anyone comfortable with $10 million? Nords Life after FIRE 20 04-15-2004 12:19 PM

 

 
All times are GMT -6. The time now is 03:13 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.