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I have at least six friends in their 50s currently out of work. Average length of unemployment is about 2 years. Some are considering converting a situationship into cohabitation. Others, asking boomer parents for $$. You should absolutely plan to be work optional by 50.

A friend just got laid off. Just bought his dream house. Has aged out of the job market. $400k in retirement accounts He’s gonna sell his rental properties(2), net $300k and pay his house off. Live modestly off savings and early SS People find a way to make it work…

I am a parter in a small firm (financial services) that does about $3m in revenue annually. Aside from my and the owner’s modest salaries, we didn’t even turn a real profit until $2m+. So it makes no sense when people brag about their businesses doing $1m -$2m in revenue.

A friend of mine has never made more than $75k and can retire in his early 50s. However, he: - lives in a modest condo - has never driven a nice car - has only been abroad once - only eats out at cheap diners - has never owned a nice suit - has never stayed at a five star hotel - has never flown first class This is why i say you can retire on a modest income - but would you want to?

Its official! If you’re just a millionaire, you’re below average: the average U.S HH is worth $1.063m But the real test of success is will power: can you resist responding with some kind of “median” cope?

I have a friend, who is 59 yo with approx $1.5m saved. He plans to retire in 2-3 yrs. He wants to buy a $2m vacation home. The payments and other expenses means he’ll run out of $$ in about 15 yrs His plan is to just cash out refi then and live off that Is this realistic?

I don’t understand why people move to third world countries while we have all the tools to live cheaply right here in the U.S.: - Costco - Temu/Shein - Ohio - Spirit Air - Disability Am I right?

Most people oversave for retirement. They usually die with most of their savings intact, many never even touching the principal. Why do you think this is? My observation is that math is complicated and when it gets too complex people’s brains just shut down. Thoughts?

My handyman now charges $150/hour. Are there any circumstances where you think it’s worth it/justified?

When people talk about “money mistakes” they often refer to trivial things like overspending on a car. But here are the whoppers: - wrong career - wrong spouse - wrong degree or education - quitting your 9-5 to “follow your passion” Some never recover from these.

As per Fintwit: Bad ways to spend money indulgently: - Big house - Fancy car - Designer clothes (worst offense) Good ways to spend money: - Travel - Tesla - spoiling your kids Why is this??

Those on Obamacare, beware. I’m of two minds on this program. I know several unemployed people using it, it’s a godsend for them. I also know those that have used it to retire earlier with many many millions in the bank. They game the system to get the subsidy.

A friend just bought a townhouse in Orange County for $1.3m. It would rent for $4000. I’m usually biased towards owning, but I just can’t support buying (vs renting) in an environment like this

Have you ever bribed anyone?

I’ve been posting about an assortment of friends, all Gen X and all unemployed. Update: 2 of the 5 have found jobs! Both in city/county government positions. It looks like local and state governments are doing the most hiring these days.

What career would you recommend for someone just starting out, who isn’t too bright?

A friend of mine has never made more than $75k and can retire in his early 50s. However, he: - lives in a modest condo - has never driven a nice car - has only been abroad once - only eats out at cheap diners - has never owned a nice suit - has never stayed at a five star hotel - has never flown first class This is why i say you can retire on a modest income - but would you want to?

A friend just got laid off. Just bought his dream house. Has aged out of the job market. $400k in retirement accounts He’s gonna sell his rental properties(2), net $300k and pay his house off. Live modestly off savings and early SS People find a way to make it work…

What career would you recommend for someone just starting out, who isn’t too bright?

I have at least six friends in their 50s currently out of work. Average length of unemployment is about 2 years. Some are considering converting a situationship into cohabitation. Others, asking boomer parents for $$. You should absolutely plan to be work optional by 50.

I am a parter in a small firm (financial services) that does about $3m in revenue annually. Aside from my and the owner’s modest salaries, we didn’t even turn a real profit until $2m+. So it makes no sense when people brag about their businesses doing $1m -$2m in revenue.

Have you ever bribed anyone?

Most people oversave for retirement. They usually die with most of their savings intact, many never even touching the principal. Why do you think this is? My observation is that math is complicated and when it gets too complex people’s brains just shut down. Thoughts?

Its official! If you’re just a millionaire, you’re below average: the average U.S HH is worth $1.063m But the real test of success is will power: can you resist responding with some kind of “median” cope?

I have a friend, who is 59 yo with approx $1.5m saved. He plans to retire in 2-3 yrs. He wants to buy a $2m vacation home. The payments and other expenses means he’ll run out of $$ in about 15 yrs His plan is to just cash out refi then and live off that Is this realistic?

My handyman now charges $150/hour. Are there any circumstances where you think it’s worth it/justified?

Is a Rolex for a 22 year old (nephew) too lavish a graduation gift?

Would you ever hire someone if you found out they were a regular consumer of self help books? To me this is a huge 🚩🚩🚩

As per Fintwit: Bad ways to spend money indulgently: - Big house - Fancy car - Designer clothes (worst offense) Good ways to spend money: - Travel - Tesla - spoiling your kids Why is this??

In defense of a wealth tax: If money is power and power corrupts, wouldn’t it be a good idea to create a net worth ceiling? All I see from billionaires is messianic visions and a desire to remake society according to their own, often demented, vision.

Advice for a relative of mine. She’s 34 and happily married. But she’s no longer into her career as a physician’s assistant. She doesn’t want children and doesn’t like traveling. How can she pivot to give her life a focus?

I don’t understand why people move to third world countries while we have all the tools to live cheaply right here in the U.S.: - Costco - Temu/Shein - Ohio - Spirit Air - Disability Am I right?