TheRedHare's Journal

Where are you and where are you going?
distracted_at_work
Posts: 202
Joined: Fri Jan 13, 2017 11:51 am

Re: Anger and Jealousy at myself and ERE people

Post by distracted_at_work »

TheRedHare wrote:It's not that I hate ERE, but I am just pissed that I didn't discover this shit or had someone guide me to help make smart decisions when I was young and dumb.

I'm jealous at most ERE people bc they've seemed to start out with very little to no debt at all and majored in something practical that they were good at, had good teachers, practical advice, and make decent money. I'm sorry if those of you reading this think I'm a little shit, but I'm mostly angry at my situation and I'd hope you'd understand.
I think we all wish we could have discovered ERE earlier, even a few months earlier would have saved me a few thousand dollars in dumb shit. On the other hand, I really really really enjoyed partying my face-off in University and I probably wouldn't have done that knowing about ERE.

You have a right to be jealous. Whether or not that's a healthy feeling being beside the point. If it helps, I also feel like a little shit because I had STEM educated parents who guided me to the "right" decisions. I know that sounds weird but when I get talking with friends and the topic turns to struggling with debt or finding jobs, I feel very embarrassed.
TheRedHare wrote:Another reason for the switch is because of the complex and challenging work. Although writing policy has helped in understanding technology as a whole, I've become very bored and complacent with my work. I was a afraid of falling into the "salary man that does the bare minimum" type, as it seems that my work doesn't seem to matter as much.

I look at working for my cousin as a apprenticeship. In exchange for my cheap labor, he teaches me his valuable skill. I'm sure that within a couple of years I would be able to seek out my own work.
That's a fantastic way to look at the change up. I can't emphasize how much I like this decision. As a salary man doing the bare minimum (which is apparently considered great work by everyone's standards ????), huge respect for you.

I won't quote the childhood post but it sounded rough. You've clearly turned out well all things considered :D Bullying is such a fucked up thing. I can't really relate past that as mine was about as opposite as can be. From the early reading all the way to having a very atheist dad haha.
Last edited by distracted_at_work on Sat Mar 18, 2017 12:51 pm, edited 1 time in total.

TheRedHare
Posts: 202
Joined: Tue Dec 20, 2016 4:40 pm
Location: Atlanta, GA

Re: TheRedHare's Journal

Post by TheRedHare »

@distracted_at_work

Thanks man! Your comments are very encouraging. It's interesting how very different our upbringings were, and how we ended up with similar mindsets.

You're right in that we all could have benefited from finding ERE earlier.
I can understand why you would get the feeling of embarrassment, but I wouldn't hold it against you and neither should anyone else. I get the same feeling when I meet kids who never even got the opportunity to go to school, or do something they were interested in; I think it's a natural feeling, and one that proves having sympathy for others.

TheRedHare
Posts: 202
Joined: Tue Dec 20, 2016 4:40 pm
Location: Atlanta, GA

Re: TheRedHare's Journal

Post by TheRedHare »

It's been a few months since my last post. Here is a bit of an update in what I've been doing for the past few months.

I ended up taking the job with my cousin in Atlanta doing software development. So far it's just the two of us doing contract work for a large health organization. He's a senior database engineer building a custom database for their commission system. He agreed to pay me 45,000 in salary, however his plan is to eventually have me become a contractor for the same company and future clients. So far all I've been doing is learning about python programming and training to become a web developer. He's thinking is that we can become a pretty good team between his database work and me doing web dev.

That's it as far as work goes. I've managed to save about $7,500 in a checking account thus far so that's nice. However, I don't have health insurance and I don't have my own place yet. I'm currently living with my aunt and she has agreed to have me here for the first month free, but after that I'll help compensate her. She does drive me a bit crazy sometimes, but she's not too bad. Driving to my cousins house to work with him is kind of a pain because it's about a 45 min drive 4 days a week which eats up gas money. So finding a place that is close by my cousin would be ideal, but finding a reasonably priced place close the downtown area is tough. Most places cost around 650+, below that and you're getting some sketchy places. Although there is this one house that looks pretty good that is close to him. It's a 3br 2bth for 1700. If I can get two other people on board it could work pretty well I think.

That's pretty much all I've been up to so far.

Any bits of advice on some of my questions would be helpful!
-HDHP recommendations?
-Thinking about buying a duplex in the next few years and rent out all the rooms except one for me in both units? I figured I could have my housing expenses covered as student loan payments.
-Any advice on web dev work would be much appreciated!
-Would it be better to get my own place or stay with family for as long as I can until I pay debts off?

User avatar
Viktor K
Posts: 364
Joined: Sat Jul 30, 2016 9:45 pm

Re: TheRedHare's Journal

Post by Viktor K »

Hey there, 26 with an expensive, debt-funded liberal arts degree that I am only somewhat now utilizing for profit (though not substantial). A lot of what you've shared so far resonates with me. Sounds like the gig with your cousin is and hopefully will continue to be a good opportunity for you!

TheRedHare
Posts: 202
Joined: Tue Dec 20, 2016 4:40 pm
Location: Atlanta, GA

Re: TheRedHare's Journal

Post by TheRedHare »

Viktor K wrote:
Wed May 24, 2017 4:52 am
Hey there, 26 with an expensive, debt-funded liberal arts degree that I am only somewhat now utilizing for profit (though not substantial). A lot of what you've shared so far resonates with me. Sounds like the gig with your cousin is and hopefully will continue to be a good opportunity for you!
Thanks man, I'm glad you find some inspiration in my story. And I sure hope it does too haha. So far things seem to be going well. I'll be sure to post any updates.

TheRedHare
Posts: 202
Joined: Tue Dec 20, 2016 4:40 pm
Location: Atlanta, GA

So I'm renting a house, and I think I can live for free. Am I being an dick?

Post by TheRedHare »

So I'm about to sign a lease to a 3 br 2 bth house that's really close to work and is in a good area. The rent is 1700 a month, for a year long lease which is then month to month after that. Even though it says that it's a 3 bedroom, you can comfortably fit about 4 people in the house. My thinking is to sublease the 3 other rooms out to people and have them pay me. The rent for all the rooms will cover the cost of the rent for the house plus utilities so I hardly pay anything to live there. I've checked everything out with the owner of the property and he's totally fine with me subleasing to other people.

I justify living pretty much rent free by having my name in everything: the lease, and utilities. So all responsibility is on me. This also gives me exposure to property management for whenever I decide to buy myself a house and rent out the rooms. I do feel partially shitty about having everyone else carry the cost, but hey, it's just business right?

User avatar
Viktor K
Posts: 364
Joined: Sat Jul 30, 2016 9:45 pm

Re: TheRedHare's Journal

Post by Viktor K »

I see nothing wrong with that. When you say rent out, are you thinking about long-term subleasing or are you also considering Air BNB?

TheRedHare
Posts: 202
Joined: Tue Dec 20, 2016 4:40 pm
Location: Atlanta, GA

Re: TheRedHare's Journal

Post by TheRedHare »

Viktor K wrote:
Wed May 24, 2017 6:09 pm
I see nothing wrong with that. When you say rent out, are you thinking about long-term subleasing or are you also considering Air BNB?
Yep, long-term leasing is what I plan on doing. I'm planning on having each roommate sign a lease agreement...even though I don't think it would matter all that much lol.

halfmoon
Posts: 697
Joined: Mon Nov 07, 2016 10:19 pm

Re: TheRedHare's Journal

Post by halfmoon »

I'm mystified. Why would you think that providing rooms at market rate to willing renters makes you a dick? Are the prospective renters close friends or family under the impression that you're sharing equally? Is this some kind of collective? Why would it be their business what you're paying or making on the deal?

If you bought a house and rented out rooms, would you feel obligated to charge only your actual expenses minus what you'd pay to rent somewhere?

Responding to your question might be easier if you explain what makes you concerned about this.

TheRedHare
Posts: 202
Joined: Tue Dec 20, 2016 4:40 pm
Location: Atlanta, GA

Re: TheRedHare's Journal

Post by TheRedHare »

halfmoon wrote:
Thu May 25, 2017 8:58 pm
Responding to your question might be easier if you explain what makes you concerned about this.
I guess my thinking is that it would cause my renters to feel slightly taken advantage of. I mean I'm only 23 and my renters are in there late 20s early 30s so I could imagine they might become irritated at the fact I'm basically living for free while they pay my rent.

However, I also realize that it's just business, and if that's the way they feel, then fine. Your point sums up this perspective well.

James_0011
Posts: 392
Joined: Wed Nov 09, 2016 12:00 am

Re: TheRedHare's Journal

Post by James_0011 »

Your life isn't a charity...

TheRedHare
Posts: 202
Joined: Tue Dec 20, 2016 4:40 pm
Location: Atlanta, GA

An update on my meanderings

Post by TheRedHare »

So far things have been pretty quite, and I haven't been doing all that much except continuing my self education in programming.

The housing situation:
I've managed to have all the rooms rented out in the house I'm staying in. My total rent expense is $50 a month....not too bad haha. 2 of my 4 tenets have moved into the house, and so far things seem to be going well as far as everyone getting along. I tend to be a bit of a mom as I do find myself doing little things like turning off the lights in unoccupied rooms from time to time. The other 2 tenets (a couple) will be moving in sometime next month, and so I'll have to wait and see how everything goes once they settle in.

The Job:
Working with my cousin has been great so far. I enjoy he's insights and business/programming know how; although, he can be a bit unorganized, but I guess I would be too when I've got a ton of things going on and work to do. He's been pretty helpful in guiding me along my programming education, giving me pointers, books to read, and things to look for in the business of software.

The education process can be a bit of a slug at times, but for the most part I find it fun and challenging. It's a great feeling when you've been working on a problem for a week, and then it suddenly works one day.

I started programming in Python about 2 or 3 months ago, and I'm now getting to the point where I'm learning OOP, which is pretty difficult to wrap my head around. I'm guessing it's going to take me a while to fully understand the concept.



Some things that have been on my mind:

-Some of my friends and family have been harping me about being single, and not getting out enough (it's been about 3 years since my last relationship). This is kind of annoying, and also a little concerning. On one hand, I'm fully focused on developing my skills in order to feel more secure about bringing in income. On the other, I worry about taking things a little too serious and neglecting my youth. My current thinking/ strategy to this issue is to just have a balance between the two. Whenever there is an opportunity to go out and meet people (females in particular) I'll take it, but I'm not going out of my way in order to find a potential companion.

I've become more and more anti consumption, and thinking of ways to save, all while my friends have been moving in the more traditional consumer pathway: go to work, come home, watch TV/play games, sleep, repeat///get car loan, rent traditional, overpriced, apartment in traditional 'safe' community, blah, blah, blah
Last edited by TheRedHare on Sun Dec 17, 2017 11:41 pm, edited 1 time in total.

thrifty++
Posts: 1171
Joined: Sat May 23, 2015 3:46 pm

Re: An update on my meanderings

Post by thrifty++ »

TheRedHare wrote:
Mon Jun 12, 2017 11:29 pm

The housing situation:
I've managed to have all the rooms rented out in the house I'm staying in. My total rent expense is $50 a month....not too bad haha. 2 of my 4 tenets have moved into the house, and so far things seem to be going well as far as everyone getting along. I tend to be a bit of a mom as I do find myself doing little things like turning off the lights in unoccupied rooms from time to time. The other 2 tenets (a couple) will be moving in sometime next month, and so I'll have to wait and see how everything goes once they settle in.
Nice work. Your savings should skyrocket now. If you have a couple living there they should be paying much more so another reason for you to pay less.

TheRedHare
Posts: 202
Joined: Tue Dec 20, 2016 4:40 pm
Location: Atlanta, GA

Re: An update on my meanderings

Post by TheRedHare »

thrifty++ wrote:
Mon Jun 12, 2017 11:47 pm
TheRedHare wrote:
Mon Jun 12, 2017 11:29 pm

Nice work. Your savings should skyrocket now. If you have a couple living there they should be paying much more so another reason for you to pay less.
Thanks, yeah I rigged it to where they pay a small premium due to them being a couple. Everyone is getting a great deal (at least in my mind) the rooms are priced below market rate, and it's enough to cover almost the entire rent.

I've still got to get health insurance (I've been putting it off since I left my last job). The lowest I've seen so far is $164/month at a $7,000 deductible.
My car insurance is super cheap at $83/month
Student loan payments should kick in soon at $300 :/ (Question: should I do a graduated payment starting at $200, or should I stay with the standard at $300? My main goal is to be able to pay off my student loans within a year in a half.)

I live 10 min. from work so gas should last me for quite awhile
Need to keep food costs low and try to refrain from buying useless things.

User avatar
Viktor K
Posts: 364
Joined: Sat Jul 30, 2016 9:45 pm

Re: TheRedHare's Journal

Post by Viktor K »

Great news on finding some renters. If/when we move back to the US, we may look at doing something like what you've done in order to save on rent as well! If you could get a garden setup, then you could easily cut what for most is the two biggest expenses in the US: rent and food. And your savings rate would be ridiculous.

As for student loans - what type are they? I have more or less decided to not pay mine off with any haste, instead I've enrolled in a pay as you earn plan. I pay a monthly payment based on my income (currently paying $0/month) for 20 years. Interest does not capitalize during this period, and in year 20 I pay income tax based on the forgiven amount.

This method doesn't save much as far as total paid (maybe 10-15k), but it does make a difference in reaching ERE. If I were to spend the $40-50k to pay off my loans now, it would take me 2-3 years, and I would have no savings by the end of it. Instead, I can start dumping money into my ERE pot now, rather than later.

Important to note that most people commenting in my journal suggested I do the opposite of this, and pay them off now.

TheRedHare
Posts: 202
Joined: Tue Dec 20, 2016 4:40 pm
Location: Atlanta, GA

Re: TheRedHare's Journal

Post by TheRedHare »

Viktor K wrote:
Tue Jun 13, 2017 12:26 am
Great news on finding some renters. If/when we move back to the US, we may look at doing something like what you've done in order to save on rent as well! If you could get a garden setup, then you could easily cut what for most is the two biggest expenses in the US: rent and food. And your savings rate would be ridiculous.

As for student loans - what type are they? I have more or less decided to not pay mine off with any haste, instead I've enrolled in a pay as you earn plan. I pay a monthly payment based on my income (currently paying $0/month) for 20 years. Interest does not capitalize during this period, and in year 20 I pay income tax based on the forgiven amount.

This method doesn't save much as far as total paid (maybe 10-15k), but it does make a difference in reaching ERE. If I were to spend the $40-50k to pay off my loans now, it would take me 2-3 years, and I would have no savings by the end of it. Instead, I can start dumping money into my ERE pot now, rather than later.

Important to note that most people commenting in my journal suggested I do the opposite of this, and pay them off now.
It's too early for me to say the route I'm taking is either good or bad, but so far it seems to be working out really well. I think the main thing is trying to find an owner who would be willing to have a tenet who would sublease the other rooms out.

For my loans, they are your standard government loans with an interest rate of 4.3%
I also have the option of putting off my loans, but I'm not too sure that would be a good idea for me. Although, I understand what you mean by establishing some type of ERE pot before you start chopping away at your student loans.

What made you choose the route you're taking with your student loans?

User avatar
Viktor K
Posts: 364
Joined: Sat Jul 30, 2016 9:45 pm

Re: TheRedHare's Journal

Post by Viktor K »

I use an excel spreadsheet to project my ERE date. I have a variable that I can turn on or off. When set to 0, it calculates my monthly loan payments based on my income. When set to anything from >0 to 1, it puts money that would normally go to savings/finances towards my student loans instead. 1 = everything goes to student loans. .5 equals have goes to student loans. In every scenario, except for earning more than $90,000/year, I reach ERE faster, with more money in the tank than if I were to put any amount greater than minimum payments towards student loans.

And just to clarify, I am not establishing a pot before chopping away - I am just not chopping away at all. I am waiting for the forgiveness period, where the amount forgiven will be listed as taxable income for that tax year.

I can share the charts here if you want or in a PM. Actually, I may start a separate thread in the relevant forum. For now I can just show you the line for the year, with scenario 1 being wait for forgiveness, and scenario 2 being pay off now, with ERE in 2023 regardless.

Year Starting Amt. Rate Month. Contr. Ending Amt.
2024 $224,325.12 5.00% -$550.19 $226,671.88 (assets increasing still)
2024 $133,334.97 5.00% -$550.19 $131,046.20 (assets depleting)

I'm not saying it is for you, that it is the right path, or advising in anyway, just giving some perspective. This is my plan at the time.

thrifty++
Posts: 1171
Joined: Sat May 23, 2015 3:46 pm

Re: An update on my meanderings

Post by thrifty++ »

TheRedHare wrote:
Mon Jun 12, 2017 11:57 pm
thrifty++ wrote:
Mon Jun 12, 2017 11:47 pm
TheRedHare wrote:
Mon Jun 12, 2017 11:29 pm

Nice work. Your savings should skyrocket now. If you have a couple living there they should be paying much more so another reason for you to pay less.
Thanks, yeah I rigged it to where they pay a small premium due to them being a couple. Everyone is getting a great deal (at least in my mind) the rooms are priced below market rate, and it's enough to cover almost the entire rent.

I've still got to get health insurance (I've been putting it off since I left my last job). The lowest I've seen so far is $164/month at a $7,000 deductible.
My car insurance is super cheap at $83/month
Student loan payments should kick in soon at $300 :/ (Question: should I do a graduated payment starting at $200, or should I stay with the standard at $300? My main goal is to be able to pay off my student loans within a year in a half.)

I live 10 min. from work so gas should last me for quite awhile
Need to keep food costs low and try to refrain from buying useless things.
I cant believe you think $83 per month car insurance is cheap/ I used to pay something like $12 for third party only. If you live so close to work have you thought about just selling your car? Another big savings boost from the sounds of things.

TheRedHare
Posts: 202
Joined: Tue Dec 20, 2016 4:40 pm
Location: Atlanta, GA

Being an autodidact

Post by TheRedHare »

Over the past few years I've started to realize how much better I am at something if I just teach myself how to do it. For the past 3 or so months I've been teaching myself programming. When I started I didn't know anything, other than the gist of what they do and the different types. I started by learning SQL, which reads a lot like English and was pretty easy to follow, and then I went onto Python. I went from the basics of creating a webpage to a full fledged web app that can import data into a full size database (SQL Server) and display all that data within the web app in a table...all with python and Flask. It was definitely a slow process(due to starting with the fundamentals of programming logic) but that feeling I got when I finally figured out how to export data to the database via a web form was great.

Doing this has reminded me how much fun and rewarding it is to teach yourself something fairly difficult with no help other than books and the internet. This has also inspired me into learning other fields in STEM. I'd really like to get into math and logic to start building up a base knowledge that will allow me to have strong reasoning skill, and a basic understanding how the world works....at least scientifically.

The thought of being ERE and having the time to develop these skills is very appealing.

TheRedHare
Posts: 202
Joined: Tue Dec 20, 2016 4:40 pm
Location: Atlanta, GA

Some Updates

Post by TheRedHare »

Here are some random updates and a few quick thoughts that have been crossing my mind lately.

Updates:
1. My housing situation with roommates has been going well so far, so I don't have any complaints. I do think that my roommates have figured out that I'm living close to nothing though, but I don't think it bothers them too much because they are getting a great deal too....I just happen to be getting an even better deal.

2. We have signed a new client for the business, and are expecting more work to come our way. Finally a good opportunity for me to put what I have been learning so far to good use.

3. Decided to buy an actual bed after sleeping on the floor for the past few months. I haven't had any back pain, but I've noticed some changes in how my spine now feels bonier than usual....I could just be loosing my mind, but idk. I'm also tired of have little bugs and spiders on my mat. I'm just getting a simple twin size frame that I can store stuff underneath, as well as a nice mattress.

4. Planning on getting a larger desk and a herman miller chair in order to make work from home more comfortable...don't want to end up like a hunch back.

5. Went rock climbing with a few of my roommates who rock climb at a gym on a regular basis. It was quite a workout requiring a great deal of tendon strength. I'm considering a membership there and building up my strength, plus it's also really fun. Although, I've also considered BJJ...which could probably be more useful.

Random Thoughts

1. On some occasions I get very lonesome and depressed, and feel as though I have no sense of purpose... I think the main cause of this is due to my inability to find a decent partner. I'm currently on 3 different dating apps and none of them have matched me to either a girl I find attractive or a girl who I can actually have a conversation with. I mean not to toot my own horn or anything but I would say that I am an above average looking guy, with a good physic. I do much better with girls (I know they are attracted to me) when I'm actually present. I've even had some girls comment on my looks. So I have no clue what the deal is, but it's really frustrating.

2. I have been getting angry and frustrated at why I can't seem to lighten up when being amoungst a group of people. I get very quite and tend to just take things in rather than have a conversation with the group. I can't seem to be my full self...maybe because in some aspects I'm not proud of who I am as a person

3. It helps me to focus on how I'm going to help grow the business, and how to sharpen my programming skills so I don't feel quite as apathetic about life. This quote also helps: "The literal meaning of life is whatever you're doing that prevents you from killing yourself" -Camus

4. I like to think about strategies on obtaining FI...because it seems as though so much of our stupid lives revolves around it. Listening to some of my very liberal (not that I care) roommates talk about how money is bad, and how they will be much more 'fulfilled' by teaching college students sounds ridiculous. All jobs suck...that's why they pay us to do them, and why they call it a job. Most professors I ever knew looked miserable and seemed to hate their jobs. So for me the biggest goal is to pay off debts, save like a mofo, buy low and sell high, expand my wealth and influence (it can be bought) and live as best of a miserable life as I can...maybe even get a beautiful trophy wife and have a few kids just to make things more interesting...not.

5. Watching the rich get richer and the poor grobble at the scraps is sad. What's even more sad is listening to the poor bitch and complain about how unfair everything is but also aspire to gain the same position as the rich. It's always been like this. The rich do everything in their power to maintain their wealth but try to make it seem like they care about the little people (maybe they do a little), and the little people hate the wealthy and all that they stand for, yet do all they can to gain it and become wealthy themselves...but deny any of their desire to be rich..an endless cycle. There are those rare people out there who actually don't give a shit about money and don't actually use it because they live in the wilderness...but those are rare butterflies and I'm not one of those.

6. Globalization is stupid and bound to fail eventually. Cultures don't really mesh together, they just put up with one another. Humans are animals, and just like animals we stick to our own 'packs'. Whites with whites, blacks with blacks, etc.. now sure we are all a great and happy family when we deal with one another one on one, but you don't see a bunch of asians chillin with a bunch of blacks....just not going to happen..why?...because people like being with people who are like themselves. But, who knows, maybe people will grow out of this after several generations..but that will be after we're all dead. If you don't believe me, try being the only person of your race and go to a club or bar filled with people of another race...how comfortable are you now?
Last edited by TheRedHare on Sun Dec 17, 2017 11:38 pm, edited 1 time in total.

Post Reply