That lakefront trail is awesome. It's too bad more cities don't have that kind of trail for people to take to work. Early morning is much better than late afternoon when everyone is off work and the trail is as congested at the Kennedy or Dan Ryan!
Buckle Up and Enjoy the FIRE Journey
- Thread starter gl.hf
- Start date
That lakefront trail is awesome. It's too bad more cities don't have that kind of trail for people to take to work. Early morning is much better than late afternoon when everyone is off work and the trail is as congested at the Kennedy or Dan Ryan!
The river walk in downtown Chicago is also great. Love what they did there with all those restaurants and bars along the way.
As you mentioned an interest in poker, especially as a possible income stream in retirement, you might find this article of interest (an AI poker bot called Libratus whipped the poker pros). Keep an eye on machine learning.
https://www.technologyreview.com/s/603544/an-ai-poker-bot-has-whipped-the-pros/
omni
Yes, I was following that live.
It was HU NL, so not directly applicable to 6max or full ring and as I previously stated, live poker, especially smaller stakes, still has a ton of clueless players and will be profitable for a long time to come.
But yeah the bot wiped the floor with them over a significant sample size.
Consider analyzing your tax efficiency in your post brokerage Learn something about tax loss harvesting. Comes in handy when you have cap gains. Put your money in every week otherwise it's just sitting there collecting dust. Got a buddy who pays his brokerage every week before he pays anything else. He's rich as heck. I like books by Phil Demuth on investing. Look at your portfolio as a whole in terms of asset classes. Some things like bonds are more efficient in a pretax account, some in a post tax account but the sum is your your portfolio. Use a tracking program like mint for expenses and personal capital for portfolio tracking.
Best
Best
Awesome advice, thanks. I do use personal capital but the rest is stuff I'll have to read up on. I know a bit but not even enough to be dangerous.
Okay, here's a beginner question that I can't seem to find by easily Googling... for some reason, maybe I'm asking it wrong.
Does Vanguard charge me a fee every time I buy a stock in my brokerage account?
I think it is free if I auto-reinvest my dividends iirc, but if I set up an automatic monthly deposit of like $700 will it charge me a transaction fee? This is the reason I've been saving up to $4,000 before depositing. I guess I could have done the math to figure out the inflection point but I just pulled 4k out of a hat and it seemed fine based on projected return vs the fee... which I realize I also made up.
Thanks for any help on this one, I appreciate it.
Does Vanguard charge me a fee every time I buy a stock in my brokerage account?
I think it is free if I auto-reinvest my dividends iirc, but if I set up an automatic monthly deposit of like $700 will it charge me a transaction fee? This is the reason I've been saving up to $4,000 before depositing. I guess I could have done the math to figure out the inflection point but I just pulled 4k out of a hat and it seemed fine based on projected return vs the fee... which I realize I also made up.
Thanks for any help on this one, I appreciate it.
So I'm walking past my roommate in the hall and he mutters, "Aw crap." I ask what's up and explains he ended up grabbing 4 dryer sheets instead of 1.
Later I am doing laundry and ask if he put the dryer sheets back on the shelf or in the laundry room (our shelf is currently moved across the hall until a project is complete). He says he just used them all on the 1 load.
I yell at him and tell him to stop being a dumba**.
My other roommates girlfriend asks what's up. I explain what the first roommate did and she says, "Oh yeah, I do that too."
First of all, how hard is it to only grab a single sheet?!?
Secondly, just put it back!
Alright, I'm done ranting.
I am also done buying more dryer sheets. Luckily they'll just buy them.
Later I am doing laundry and ask if he put the dryer sheets back on the shelf or in the laundry room (our shelf is currently moved across the hall until a project is complete). He says he just used them all on the 1 load.
I yell at him and tell him to stop being a dumba**.
My other roommates girlfriend asks what's up. I explain what the first roommate did and she says, "Oh yeah, I do that too."
First of all, how hard is it to only grab a single sheet?!?
Secondly, just put it back!
Alright, I'm done ranting.
I am also done buying more dryer sheets. Luckily they'll just buy them.
So here we are at the end of 2017, I will get one last paycheck this year but I'll post an update as of now with a personal update as well for what 2018 looks like it's bringing. I'm done Christmas shopping too so expenses for the rest of the month should be standard. Had a Vegas trip where I did not run well and spent a bit making my bed (made the base/frame and bought a new mattress). The bed is awesome btw, made it with shelves all around the base and you can remove a section for hidden storage under the bed, sits about 3 feet off the ground so plenty of room under it.
After the runbad in Vegas (lost like 2 buyins over 5 days so trip cost me somewhere north of a grand total) and even spending a bit over budget these last few months the market/economy/everything is still on a ripper as you all know so my net worth continues to hit a new high each week through no credit to myself. Other than maybe moving (see more below) I don't have any major expenses coming up so I should be able to continue to throw a maximum amount into investments next year.
I recently caught up with a good high school friend who was asking what I was up to a couple few months ago. I mentioned investing/FIRE/etc and he was very interested.
I sent him some info on the basics, finance 101, explained the math, some MMM posts, debt bad investing good, etc. We've been talking and he's making some huge changes! He actually looked at the rates of his debts, should have student loans paid off this year and his car paid off first quarter of next year (or something close to that, he's about to be debt free is the point)! He's opening an HSA and figured out when the right time to start contributing to his 401k is. I think he just took what I showed him and realized that it's not hard, it just takes a bit of work on the front end and everything else takes care of itself. I'm not spoon feeding him (he's taking the info I give and figuring out what applies to his situation (based on his work 401k provider and loan rates and whatnot)) and he's just asking me a clarification or an advice question once per week or so. He's been doing great and I'm for sure a better person for having known him so I'm happy to return the favor. Everyone I've talked to about finances has been pretty open and likes talking about the subject. I'm really lucky to be where I'm at.
I will preface the update by saying I recently did some research on crypto, as I'm sure many of you have with the buzz that's going around. I did miss the initial boat but from what it looks like it has a ways to go. After buying (haha) into the idea and figuring out which ones I think are the best I settled on Ethereum and IOTA, I may buy some Cardano and/or some others still. I do think Ethereum offers some cool things with Smart Contracts and IOTA has something with no fees. If this is a huge bubble and I end up with nothing, so be it, but if it is as big as it can be I'd feel like an idiot not taking a stab. I have 'invested' $1,500 and that's up to above $2,000 already. I'll post next week when it's busto. No gamble, no future.
Age: 28
Salary: $84,500 + target 10% bonus (in Aug) + 4% 401k match
401k: $81,364
Roth IRA: $43,529
Brokerage: $34,096
HSA: $5,972
Cash: $19,186
Crypto: $2,056 total in USD
- 1.9774 Eth ~~ $1,581
- 94.905 IOTA ~~ $475
Car: $10,000
Debt: -$2,216 (just what I spent on my credit cards last month)
NW: $193,987
Should be breaking the 200k mark soon!!!
I maxed out my 401k contribution for the first time ever last month. The 'extra' money this month basically all went into crypto.
I know that's a heavy amount of cash for my AA, 14k is in my 'high' 1.3% yield online account as my emergency fund.
Work has been crazy, everything keeps breaking and market demand is way up. I'm not working straight 12s or anything that insane but it has been more demanding. Haven't been able to get to the gym for MMA much recently, maybe twice a month or so. That's a poor excuse but even on the days when I get home in time I'm exhausted (read, lazy), or have to do laundry or run to the store (read, excuses), and don't make it in to the gym. I will say that as busy as work has been it has put me in a great spot financially (I don't make OT, I just mean it pays well for a single guy with no kids... and that hopefully things will stop breaking at some point and I'll be able to reap the fruits or something). I'm not the richest guy in the world but seeing my NW continue to climb is reassuring that something is coming of this effort.
I can't exactly explain it but I'm hoping for a correction because in my mind if I can just work and make earned income to invest through the next correction I will have made it through the hard part and will be 'set' for life if that makes any sense. I do realize that even if I'm laid off tomorrow I have enough of a bankroll that I'll be fine for a long while even if I don't find a job right away.
Looking like my roommate of 9 years is moving in with his gf after our lease is up at the end of April. My other roommate might be moving out as well, he will know for sure in early January. If those two things happen it might be the universe telling me it's time to move on. As much as I like my job I might as well look elsewhere. Chance to get a raise, plus relocate to a cheaper area of living or move closer to work. Get to learn something new too as I've been with my company for just over 5 years. I was toying with the idea of giving playing poker professionally a shot but given my current bankroll and what I'd have to make, plus the learning curve, plus that we're 'due' for an economic correction, I would only do it if I could move in with one of my 2 good friends who are pros. One just signed a lease in Vegas and has no extra room and the other is in the same situation in LA, so probably not happening this go-round. I have a lot up in the air right now but I did send my resume to a head hunter last week and am hitting up a couple few contacts I have in different areas around the country. We'll see what unfolds come next year. Hopefully I can get something lined up around the time my lease is up. Head hunter said my resume was great and she shouldn't have any issues finding some opportunities for me. Just gotta study for the drug test now, the multiple choice questions always trip me up...
After the runbad in Vegas (lost like 2 buyins over 5 days so trip cost me somewhere north of a grand total) and even spending a bit over budget these last few months the market/economy/everything is still on a ripper as you all know so my net worth continues to hit a new high each week through no credit to myself. Other than maybe moving (see more below) I don't have any major expenses coming up so I should be able to continue to throw a maximum amount into investments next year.
I recently caught up with a good high school friend who was asking what I was up to a couple few months ago. I mentioned investing/FIRE/etc and he was very interested.
I sent him some info on the basics, finance 101, explained the math, some MMM posts, debt bad investing good, etc. We've been talking and he's making some huge changes! He actually looked at the rates of his debts, should have student loans paid off this year and his car paid off first quarter of next year (or something close to that, he's about to be debt free is the point)! He's opening an HSA and figured out when the right time to start contributing to his 401k is. I think he just took what I showed him and realized that it's not hard, it just takes a bit of work on the front end and everything else takes care of itself. I'm not spoon feeding him (he's taking the info I give and figuring out what applies to his situation (based on his work 401k provider and loan rates and whatnot)) and he's just asking me a clarification or an advice question once per week or so. He's been doing great and I'm for sure a better person for having known him so I'm happy to return the favor. Everyone I've talked to about finances has been pretty open and likes talking about the subject. I'm really lucky to be where I'm at.I will preface the update by saying I recently did some research on crypto, as I'm sure many of you have with the buzz that's going around. I did miss the initial boat but from what it looks like it has a ways to go. After buying (haha) into the idea and figuring out which ones I think are the best I settled on Ethereum and IOTA, I may buy some Cardano and/or some others still. I do think Ethereum offers some cool things with Smart Contracts and IOTA has something with no fees. If this is a huge bubble and I end up with nothing, so be it, but if it is as big as it can be I'd feel like an idiot not taking a stab. I have 'invested' $1,500 and that's up to above $2,000 already. I'll post next week when it's busto. No gamble, no future.
Age: 28
Salary: $84,500 + target 10% bonus (in Aug) + 4% 401k match
401k: $81,364
Roth IRA: $43,529
Brokerage: $34,096
HSA: $5,972
Cash: $19,186
Crypto: $2,056 total in USD
- 1.9774 Eth ~~ $1,581
- 94.905 IOTA ~~ $475
Car: $10,000
Debt: -$2,216 (just what I spent on my credit cards last month)
NW: $193,987
Should be breaking the 200k mark soon!!!
I maxed out my 401k contribution for the first time ever last month. The 'extra' money this month basically all went into crypto.
I know that's a heavy amount of cash for my AA, 14k is in my 'high' 1.3% yield online account as my emergency fund.
Work has been crazy, everything keeps breaking and market demand is way up. I'm not working straight 12s or anything that insane but it has been more demanding. Haven't been able to get to the gym for MMA much recently, maybe twice a month or so. That's a poor excuse but even on the days when I get home in time I'm exhausted (read, lazy), or have to do laundry or run to the store (read, excuses), and don't make it in to the gym. I will say that as busy as work has been it has put me in a great spot financially (I don't make OT, I just mean it pays well for a single guy with no kids... and that hopefully things will stop breaking at some point and I'll be able to reap the fruits or something). I'm not the richest guy in the world but seeing my NW continue to climb is reassuring that something is coming of this effort.
I can't exactly explain it but I'm hoping for a correction because in my mind if I can just work and make earned income to invest through the next correction I will have made it through the hard part and will be 'set' for life if that makes any sense. I do realize that even if I'm laid off tomorrow I have enough of a bankroll that I'll be fine for a long while even if I don't find a job right away.
Looking like my roommate of 9 years is moving in with his gf after our lease is up at the end of April. My other roommate might be moving out as well, he will know for sure in early January. If those two things happen it might be the universe telling me it's time to move on. As much as I like my job I might as well look elsewhere. Chance to get a raise, plus relocate to a cheaper area of living or move closer to work. Get to learn something new too as I've been with my company for just over 5 years. I was toying with the idea of giving playing poker professionally a shot but given my current bankroll and what I'd have to make, plus the learning curve, plus that we're 'due' for an economic correction, I would only do it if I could move in with one of my 2 good friends who are pros. One just signed a lease in Vegas and has no extra room and the other is in the same situation in LA, so probably not happening this go-round. I have a lot up in the air right now but I did send my resume to a head hunter last week and am hitting up a couple few contacts I have in different areas around the country. We'll see what unfolds come next year. Hopefully I can get something lined up around the time my lease is up. Head hunter said my resume was great and she shouldn't have any issues finding some opportunities for me. Just gotta study for the drug test now, the multiple choice questions always trip me up...
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I was talking to one of my poker buddies a while ago and I was explaining my thought on how money is just a tool, it isn't the root of all evil and can be used for plenty of good things. Wanting more of it isn't a bad thing. He looked at me quizzically and asked, "Why would you want to hang around people who thought that way?"
My grandpa passed away a couple few weeks ago, he died with around 500k to his name. He divided the inheritance between his four kids evenly. They were selfless and everyone came together and put together a beautiful funeral. My mom used some of her share to fly in both of my brothers, no one was greedy and everyone just made sure we were there for each other and reminded us we're all in this together. Really puts things in perspective that money isn't real or important so long as you have good people around you.
I mentioned that last year I made more money in passive income than I had expenses to most of my family (and also did this around christmas to the other side of the family), literally everyone I talked to was happy for me, asked what it was in, and openly talked about their views and where they have money and how much. I am so lucky to have open minded and smart family to talk to. Every one of my friends I have spoken to about it as well is on the same page, everyone just wants everyone else to do well and succeed. No one was jealous or bitter, but realized that I worked hard to get to this point and wanted to share ideas and information.
The wake was amazing, most I've been to have a line with everyone crying. This one had more laughter and hilarious crazy grandpa stories. I was lucky to have known him for this long and I actually got to live with him for 8 months when I had a co-op near his place. As a gift to his kids (my mom and aunts and uncle), I collected all the stories and emailed them out to them. That's the neat thing, he'll never be completely gone because some of him is inside all of us.
He was a master carpenter and made amazing things in his life, cabinets, tables in-layed wood pictures, entire houses. It was apparent from that week that the best thing he made in life was his family, friends, and memories along the way.
Both of my roommates are moving out at the end of April. I am debating on whether I want to get my own place in Chicago and keep working a while longer or if I should go give poker a shot by moving out to Vegas. I talked to a few of my friends about it and will talk to my parents when they visit at the end of this month. My old roommate lives in Vegas as a pro and my other buddy lives in LA. I talked to both of them about it and they both agree I'm being pretty realistic with my approach - most people hop in thinking they're always going to win and it will be easy and not realizing how much variance there will be and work it actually takes. It's easy to be a pro when you're running well, there will be times when you lose for 10 sessions in a row even if you're making all the correct plays.
I do not expect to make as much as I am currently making and will have to pay for health care as well. Initially the learning curve and adjustments will add to some of that and it obviously depends on how hard I work and what the state of the game will be going forward. I am really torn between leaving a good job and situation I am in and going after what I really want to do in life. In a year or 3 if I am disciplined and really work I could be making more than I am now or I could be busto and in a worse spot. I would use the cash I have plus my brokerage if it comes to that and would not touch my 401k or IRA. After the 4 additional paychecks I'd get between now and then, plus my vacation payout for not using it, minus the moving costs puts my bankroll (for poker + living) at around 65k. My backup plan would be to get back into engineering and find a job out west somewhere.
I also have an interview with a competitor soon so we'll see what happens. Everything is up in the air right now and I'm honestly torn between what seems like good options all around.
My grandpa passed away a couple few weeks ago, he died with around 500k to his name. He divided the inheritance between his four kids evenly. They were selfless and everyone came together and put together a beautiful funeral. My mom used some of her share to fly in both of my brothers, no one was greedy and everyone just made sure we were there for each other and reminded us we're all in this together. Really puts things in perspective that money isn't real or important so long as you have good people around you.
I mentioned that last year I made more money in passive income than I had expenses to most of my family (and also did this around christmas to the other side of the family), literally everyone I talked to was happy for me, asked what it was in, and openly talked about their views and where they have money and how much. I am so lucky to have open minded and smart family to talk to. Every one of my friends I have spoken to about it as well is on the same page, everyone just wants everyone else to do well and succeed. No one was jealous or bitter, but realized that I worked hard to get to this point and wanted to share ideas and information.
The wake was amazing, most I've been to have a line with everyone crying. This one had more laughter and hilarious crazy grandpa stories. I was lucky to have known him for this long and I actually got to live with him for 8 months when I had a co-op near his place. As a gift to his kids (my mom and aunts and uncle), I collected all the stories and emailed them out to them. That's the neat thing, he'll never be completely gone because some of him is inside all of us.
He was a master carpenter and made amazing things in his life, cabinets, tables in-layed wood pictures, entire houses. It was apparent from that week that the best thing he made in life was his family, friends, and memories along the way.
Both of my roommates are moving out at the end of April. I am debating on whether I want to get my own place in Chicago and keep working a while longer or if I should go give poker a shot by moving out to Vegas. I talked to a few of my friends about it and will talk to my parents when they visit at the end of this month. My old roommate lives in Vegas as a pro and my other buddy lives in LA. I talked to both of them about it and they both agree I'm being pretty realistic with my approach - most people hop in thinking they're always going to win and it will be easy and not realizing how much variance there will be and work it actually takes. It's easy to be a pro when you're running well, there will be times when you lose for 10 sessions in a row even if you're making all the correct plays.
I do not expect to make as much as I am currently making and will have to pay for health care as well. Initially the learning curve and adjustments will add to some of that and it obviously depends on how hard I work and what the state of the game will be going forward. I am really torn between leaving a good job and situation I am in and going after what I really want to do in life. In a year or 3 if I am disciplined and really work I could be making more than I am now or I could be busto and in a worse spot. I would use the cash I have plus my brokerage if it comes to that and would not touch my 401k or IRA. After the 4 additional paychecks I'd get between now and then, plus my vacation payout for not using it, minus the moving costs puts my bankroll (for poker + living) at around 65k. My backup plan would be to get back into engineering and find a job out west somewhere.
I also have an interview with a competitor soon so we'll see what happens. Everything is up in the air right now and I'm honestly torn between what seems like good options all around.
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Life is really interesting.
I retired! At the age of 28!
And moved to Vegas and am going to play poker for a living. It has been absolutely incredible so far.
I wake up every day and work on myself. I meditate, workout, review past sessions with my roommate, and go to the Bellagio and try and make the biggest stack I've ever had. Every single day is exactly what I want it to be.
I have been out here for 1 month so far and this is way more than I could have hoped for.
If I die playing poker I've had an amazing life. I looooooooove playing and improving. The game is incredible, I still have a lot to learn but up about 3k so far in my first month. Just grinding/studying as much as possible the first couple few months. So far played 175hrs live and around 20 online. Up a bit online and most of the profit is at Bellagio.
I do not expect to earn as much as I was as an engineer my first year, maybe not even my second or third, but my quality of life has already surpassed what I used to have.
gg wp. I have a lot of work to do.
I retired! At the age of 28!
And moved to Vegas and am going to play poker for a living. It has been absolutely incredible so far.
I wake up every day and work on myself. I meditate, workout, review past sessions with my roommate, and go to the Bellagio and try and make the biggest stack I've ever had. Every single day is exactly what I want it to be.
I have been out here for 1 month so far and this is way more than I could have hoped for.
If I die playing poker I've had an amazing life. I looooooooove playing and improving. The game is incredible, I still have a lot to learn but up about 3k so far in my first month. Just grinding/studying as much as possible the first couple few months. So far played 175hrs live and around 20 online. Up a bit online and most of the profit is at Bellagio.
I do not expect to earn as much as I was as an engineer my first year, maybe not even my second or third, but my quality of life has already surpassed what I used to have.
gg wp. I have a lot of work to do.
gamboolman
Full time employment: Posting here.
gl.hf
Well done ! Now is the time to take your shot playing cards. Live the life and if things don't work out, you have time, the education and work experience to re-enter the grind of working for megacorp.
You have at at age 28 more awareness and knowledge of financial planning for the long term than the majority of folks ever do.
Ms. gamboolgal and I were planning on going to Vegas this June so I could play in the Seniors WSOP event and grind the cash games, and yes do some gambooling as Ms. gamboolgal, while a dam good poker player, also likes to set $money on fire in the slots....ha - but that is OK for us as we have worked 40 years to have the fun money available.
Unfortunately, life happens and we had to cancel as her Mother fell and broke her hip badly and is near to passing on to eternity.
That's life and we know that. Next year is retirement year and I'll look forward to playing against you and doing my best to cooler you in the cash games and put you on monkey tilt......and also play in the Seniors tournament.
All the best and please keep us updated on your journey and the experiences that you are living.
And you will be blindsided by that special little lady....just saying.... so take your shot, be a rebel and live life. Life's a Dance and You Learn As You Go !
Looking forward to your follow up posts hombre !
All the best, gamboolman...
Well done ! Now is the time to take your shot playing cards. Live the life and if things don't work out, you have time, the education and work experience to re-enter the grind of working for megacorp.
You have at at age 28 more awareness and knowledge of financial planning for the long term than the majority of folks ever do.
Ms. gamboolgal and I were planning on going to Vegas this June so I could play in the Seniors WSOP event and grind the cash games, and yes do some gambooling as Ms. gamboolgal, while a dam good poker player, also likes to set $money on fire in the slots....ha - but that is OK for us as we have worked 40 years to have the fun money available.
Unfortunately, life happens and we had to cancel as her Mother fell and broke her hip badly and is near to passing on to eternity.
That's life and we know that. Next year is retirement year and I'll look forward to playing against you and doing my best to cooler you in the cash games and put you on monkey tilt......and also play in the Seniors tournament.
All the best and please keep us updated on your journey and the experiences that you are living.
And you will be blindsided by that special little lady....just saying.... so take your shot, be a rebel and live life. Life's a Dance and You Learn As You Go !
Looking forward to your follow up posts hombre !
All the best, gamboolman...
Thanks for the kind words gambool!
I told everyone at work what I'm doing. It's crazy, I was expecting a lot of, "You're doing what!?!" but instead everyone was so jealous and supportive. I had 8 different people at work including my boss and project manager who told me if things don't work out to give them a call. Another coworker told me I'd be crazy not to do it, "No kids, no wife, no mortgage... you have to!" Guess it pays off to give 3 weeks and sit down with all the managers to discuss why you're leaving instead of burning bridges lol.
I've improved so much at poker since I've been out here. Got some courses I'm working on from Upswing Poker, working on RaiseFirstIn ranges, VsRFI ranges, and Vs3bet ranges for preflop. Going to get a solid 5/10 bankroll at nl holdem before I try to learn any other games. I'm decent at PLO and love the game but since my roommate knows NL I'm just going to stick to 1 game for a while.
My mental game is pretty good, I do my best not to tilt. And while nobody is tiltless I try to be mindful of emotions at the table and remove them from any decision making. Meditating every morning for sure helps in this department.
GL in any events you play in the future. Maybe next year, I wish you all the rungoot. If you want any tips, play less hands than you think you should (fold more), if you must play, do so from the button, and stick to the penny slots
I love Las Vegas too. Waking up and seeing mountains every day is incredible.
Poker is weird, you can make all the correct decisions and still lose. You will have weeks, maybe months where you lose money. That's just how it works. Even after rough sessions or when it seems like a grind, I just need to go for a bike ride, look at the scenery, and remember this is what I signed up for. At least I don't have to show up to an office tomorrow
I'm not worried about the lady situation, being single in Vegas seems like it's not a bad deal
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