Personal Finance Goals - 2021

Aizen

Kingfisher
Now that I've graduated from university I'm looking to get a start on my career in a decent place in Europe. Sure, I could make 2-3 times more money in a big US city or the Bay area, but you couldn't pay me enough to live in or around these spiritually devoid shitholes.

The plan is to better my computer skills (programming and analytics), while simultaneously improving my proficiency in the local language. With a few months of momentum under my belt, I'll start seriously applying for jobs, and pray that He will guide me to a place of wealth accumulation. That will be the first serious step towards a future of family formation.
 

Coja Petrus Uscan

Hummingbird
Gold Member
Now that I've graduated from university I'm looking to get a start on my career in a decent place in Europe. Sure, I could make 2-3 times more money in a big US city or the Bay area, but you couldn't pay me enough to live in or around these spiritually devoid shitholes.

The plan is to better my computer skills (programming and analytics), while simultaneously improving my proficiency in the local language. With a few months of momentum under my belt, I'll start seriously applying for jobs, and pray that He will guide me to a place of wealth accumulation. That will be the first serious step towards a future of family formation.

Have you looked into options in The UAE? I'd be interested to see what they have available for employees. No tax, no politics, no degenercy.
 

Pelagius

Robin
Now that I've graduated from university I'm looking to get a start on my career in a decent place in Europe. Sure, I could make 2-3 times more money in a big US city or the Bay area, but you couldn't pay me enough to live in or around these spiritually devoid shitholes.

The plan is to better my computer skills (programming and analytics), while simultaneously improving my proficiency in the local language. With a few months of momentum under my belt, I'll start seriously applying for jobs, and pray that He will guide me to a place of wealth accumulation. That will be the first serious step towards a future of family formation.
Where are you thinking?

In EE + Poland you are probably going to struggle. Most of these countries will only hire from outside if they literally cannot find someone to do what they need, and the majority of these countries have free education systems that are pumping out Masters students in Comp-Sci ready for the illustriously coveted internship every single year.

You also aren't going to learn a language to a high enough proficiency to get through the door in countries like Slovakia, Hungary or Poland in a few months - the three countries almost every idealist wants to move to.

If you look at the forums related to these countries most people leave countries like the USA & UK expecting a land of opportunity and either live like an outcast in their girlfriends room or the guy returns back with his tail between his legs.

Even if the guy does manage to get a job it's not long before they discover that working for EE wages isn't very fun and there's a reason that these countries have many expats to degenerate highly paid countries.

One recommendation is actually Spain which is interesting in that they do tend to be open to foreigners and roles in QA are going like hot cakes at a weight watchers party. Spain is also a considerably easier language to learn to some degree and English will be widely spoken.

My honest advice would be get a quick-pass ESL cert and teach English in these countries as you build up the language & network OR go the freelance route and then pivot to Europe with some money behind you.

Or check out the UAE as gework says, there seems to be positive things to be said about that place from the nomad world.
 

nagareboshi

Sparrow
Now that I've graduated from university I'm looking to get a start on my career in a decent place in Europe. Sure, I could make 2-3 times more money in a big US city or the Bay area, but you couldn't pay me enough to live in or around these spiritually devoid shitholes.

The plan is to better my computer skills (programming and analytics), while simultaneously improving my proficiency in the local language. With a few months of momentum under my belt, I'll start seriously applying for jobs, and pray that He will guide me to a place of wealth accumulation. That will be the first serious step towards a future of family formation.

Which sort of European cities/provinces are you thinking about? Like France/Italy or more like Poland/Hungary?
 

Aizen

Kingfisher
Where are you thinking?

In EE + Poland you are probably going to struggle. Most of these countries will only hire from outside if they literally cannot find someone to do what they need, and the majority of these countries have free education systems that are pumping out Masters students in Comp-Sci ready for the illustriously coveted internship every single year.

You also aren't going to learn a language to a high enough proficiency to get through the door in countries like Slovakia, Hungary or Poland in a few months - the three countries almost every idealist wants to move to.

If you look at the forums related to these countries most people leave countries like the USA & UK expecting a land of opportunity and either live like an outcast in their girlfriends room or the guy returns back with his tail between his legs.

Even if the guy does manage to get a job it's not long before they discover that working for EE wages isn't very fun and there's a reason that these countries have many expats to degenerate highly paid countries.

One recommendation is actually Spain which is interesting in that they do tend to be open to foreigners and roles in QA are going like hot cakes at a weight watchers party. Spain is also a considerably easier language to learn to some degree and English will be widely spoken.

My honest advice would be get a quick-pass ESL cert and teach English in these countries as you build up the language & network OR go the freelance route and then pivot to Europe with some money behind you.

Or check out the UAE as gework says, there seems to be positive things to be said about that place from the nomad world.
Not planning to move to EE, as I'm well aware of the low wages and difficulty of integration. I think it's easier if you have some ancestry from there, but sadly I do not. Sticking to more familiar ground.
 

Aizen

Kingfisher
Have you looked into options in The UAE? I'd be interested to see what they have available for employees. No tax, no politics, no degenercy.
This is definitely an interesting option that I'll be looking into. Heard of some expats making bank over there. I do hear that they take your passport upon arrival, so it's a bit more strict than other countries. Nice that there's no degeneracy, but there's also not much to do either. I'm fond of the outdoors and would prefer to live near the mountains. I'll keep my eye on the UAE though.
 

Zanardi

Woodpecker
I began long term investing with mutual funds and some speculative investing with bitcoin. So, my financial goal for 2021 is to invest a monthly small amount of money and see what happens in a year.
 
  • Get my side businesses to cover day-to-day living expenses (this is the main financial goal)
  • Keep investing BTC (maybe others?)
  • Keep expenses low as I have this year and save the rest from the day job
  • Based on the above points, and with travel restrictions internationally, live a location independent life for a while
I don't let money be the main driver of my life but it's certainly up there because it offers a fast-track to freedom and options.

Also, for anyone that wants to get their finances in order but don't know where to start, get a simple budget setup and track expenses for at least a month. Youneedabudget.com is a free one. You can also just use spreadsheets. If you don't know where your money is going you have no idea how much you're really spending/saving.
 

kel

Ostrich
Can't call it a "goal", really, because it's mostly a hope since I'm a very passive trader, but I'm right about at the point where my investments could potentially* earn me more than my job. This is kind of a turning point. Looking forward to more tips from the membership here - a few this year worked out very well for me.

I think buying a property is finally happening this year, though that's more a life goal, I want a place to live not an investment. Still, it's a financial milestone.

*even ignoring some shitcoin 10x or other such dumb luck possibility, which I'm somewhat bullish on as well though I recognize it as pseudo-gambling
 

paninaro

Pelican
Why mutual funds over stocks?

One benefit can be reducing risk. For example, let's say you think the travel industry will do well next year. You could buy the stocks of Hilton Hotels and Delta Airlines. Let's say the travel industry does do well, but those specific companies do poorly. Maybe Delta has some major plane crash and people switch to their competitors; or the CFO of Hilton was cooking the books and it just came to light.

A mutual fund will spread the investment across a lot of companies in the sector, like buying stock in United, Delta, American, and Southwest. This way, you're not as affected if one particular company does badly. You will still be affected if the industry overall does badly though.

You could do this on your own by buying each of those stocks separately. However, it's more of a hassle and you face transaction fees with each purchase, so it's usually only worth doing when you have substantial sums to invest.
 

Meraki

Sparrow
Been picking myself up and getting back into day trading. I'd like to also invest, but it seems with so much volatility now, it makes more sense to trade, at least until Feb/March.

For RVFers looking for funds, I'd recommend emerging markets that diversify across Asia & India. Some big companies are IPOing soon overseas like Zomato & Burger King & their business is booming abroad. I'm also following Electric Vehicle & Semiconductor funds - they're up big on the year, but apparently 2021-22 is supposed to be when the technology really takes off. In terms of individual stocks, LI looks like its making a healthy pullback if it holds the 28-30$ range. MU, OKTA, AMD, KARS, FSELX are stocks/funds I'm tracking.

@kel congrats and good luck. It does feel like gambling some times. I too, also have started making more from trading as I do from my full-time job - but I make peanuts for a salary. It's hard to not feel like it's gambling. Just last week, I took a quick $100 profit on a totally bs stock that was moving with big volume. Sold before a giant turn-down. Check it the next day & somehow it opens $1 higher before dropping hard...

It seems green is green & just trying to participate in part of the move is a success, so that is what I am focusing on, while adding small amounts to long holds. Again, even tho the US market is high on hopium, for the most part I'm avoiding it in favor of emerging markets for longs, other than day-trading US stuff. BTW - many brokers have zero commission or miniscule costs now - mine is $0.01, with the software I use.

For new traders - DO NOT USE ROBINHOOD, DO NOT USE APPS - you CAN NOT day trade without at least seeing Level 2 & live-streaming charts accurate to the second. At best you can swing trade off Yahoo Finance charts, but you need software & a good broker or else you can expect bad prices & slow transactions.

Like some of yours, my goal is to invest, continue to turn trading into a part-time job making a reliable $10-20k per year extra. And buying a house out in the middle of nowhere.
 

Pelagius

Robin
For new traders - DO NOT USE ROBINHOOD, DO NOT USE APPS - you CAN NOT day trade without at least seeing Level 2 & live-streaming charts accurate to the second. At best you can swing trade off Yahoo Finance charts, but you need software & a good broker or else you can expect bad prices & slow transactions.

Like some of yours, my goal is to invest, continue to turn trading into a part-time job making a reliable $10-20k per year extra. And buying a house out in the middle of nowhere.
Do you have recommendations for live charts and software? I have a few ECN accounts from a few years ago but i've lost touch with trading since then.
 
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