Personal Finance Goals - 2021

[Knight.of.Logos]

Pay off some of my loans from graduate school. Fortunately, I did not take out much and they should be paid off within two years without much stress.

Figure out my game plan with crypto. I want to keep 25% of my hodlings for life, but would like to start selling my BTC and ETH starting in 3-5 years, probably DCA sell strategy over a several year period.

Invest more with anything I have left after paying loans, some into BTC and some into silver.

Living frugally. I don't want to spend any money on "luxuries" except healthy food, gym membership, and books. Reading spiritual texts will help me understand how to live financially as I (hopefully) start to actually make more money in the coming years.

 

[cosine]

My focus this year is getting employed at a "disruptive innovation" company that is publicly-traded or likely pre-IPO

I already rent out rooms in my house and my interest rate is only 2.625%. So out of the total mortgage payment including taxes and interest, my "rent" is only $255/month. I still have maintenance expenses obviously.

If I stay frugal, I can really plow my whole salary into equity at said company, and hopefully, finally get in on the tech boom.

 

[MRAll134]

My goal is to get into the real estate market, in a rural area and to continue to pump up the retirement savings.

Question: if someone had say 200k in savings and the sh*t starts hitting the fan a la South Africa, that money is basically worthless in a riot - or looting situation. Correct?

 

[Blade Runner]

I'm considering new retirement vehicles, but am very interested in crypto ... currently I'm thinking that the self directed IRAs or 401ks of the world are almost traceable elements for the government regarding your crypto. Perhaps I should just do more traditional investments with those tax advantaged accounts (for example, if you have a solo 401k and it goes over 250k, you have to file a yearly report with the gov't) since there are other, more sly ways to get crypto in your possession, even in legit fashions. Thoughts on this?

 

[BURNΞR]

I'm considering new retirement vehicles, but am very interested in crypto ... currently I'm thinking that the self directed IRAs or 401ks of the world are almost traceable elements for the government regarding your crypto. Perhaps I should just do more traditional investments with those tax advantaged accounts (for example, if you have a solo 401k and it goes over 250k, you have to file a yearly report with the gov't) since there are other, more sly ways to get crypto in your possession, even in legit fashions. Thoughts on this?

I have some bitcoin in a self funded superfund where I hold the keys. It was some trouble to set up but was worth doing as the size of it in fiat has tripled in a year.

I generally don't believe in retirement vehicles, this video explains why:

 

[Hypno]

I feel for you.

No man should have to endure such a painful thing. Always helps everyone else put their own problems in perspective too

Divorce finalized after nearly 5 years. Got raped financially but it could have been worse. Need to sell our house but the order gave me all the equity above a certain point so I have an incentive to get it sold for a high price. House has appreciated probably $100K in the time that my wife was stalling, so that offsets some of the other expenses. Still paying the mortgage and expenses on it so it will be nice to get it sold.

 

[cosine]

I generally don't believe in retirement vehicles, this video explains why:

Even in their 60's, my parents were afraid of cashing out of their retirement accounts or other investments -- because that would count as income and make them ineligible for medicare, or at least full medicare benefits.

So even after they retired, and have used retirement accounts extensively, they are still afraid of using them. When they add pensions, social security, retirement account withdrawals, etc, they have significant income.

People early in their careers making say, $40-80k pay a much lower marginal tax rate, so I fully agree -- they're much better off just taking the hit now and doing something with it while they are young.