No doubt you worked hard and saved a lot. Throwing 80% of your net worth into a single volatile stock certainly is speculation. I'm very happy for you it worked out as well as it did.
A casino trip with pretty good odds is a better comparison than a lottery ticket. You're still playing. You have made exactly zero unless you cash out your chips and go home.
If you enjoy the thrill, keep a tiny bit of the stock as a hobby, on top of a well-diversified ERE stash.
SWB's path to financial independence
-
SavingWithBabies
- Posts: 882
- Joined: Mon Aug 31, 2015 2:50 pm
- Location: Midwest, USA
Re: SWB's path to financial independence
So I left after realizing this thread was going to go off tangent. I haven't read the replies since my last post. I will come back and do so at some point. However I wanted to give an update:
- I bought a boat (~$300k, needs another $20k immediately and maybe another $15-20k over this year for some electrical & mechanical upgrades/maintenance)
- I still have more than $2M USD after buying the boat
- I took some time off contracting work but I'm probably done -- but I might still do some contracting in the future to pay for non-essential things (but nothing long term)
I now have a deeper grasp of why Jacob does not discuss his investment portfolio. I'm not saying my approach is good or one that anyone else should attempt to replicate. Just that I understand a bit more that aspect which I was always somewhat curious about.
Since I got back from buying the boat, we've been rushing around selling whatever we can, donating the rest and hopefully taking little to the garbage dump. We did get a storage unit but we're hoping to go cancel it without using it as it's just another ongoing expense I'd rather avoid (my parents thankfully will store a small amount of things for us).
In about 1.5 weeks, we all go back to the boat and begin living on it. I'm really excited for the rest of my family to see the boat in person for the first time.
I'm not sure when I'll post again. I want to go live in the world for a while without spending too much time on the internet. We've got a ton to learn and I'm excited. Also, somehow I lost 40 pounds over the past 3 months without much effort besides going to the kids swimming lessons (and swimming a bit too) and focusing on not eating too much. Life is good.
- I bought a boat (~$300k, needs another $20k immediately and maybe another $15-20k over this year for some electrical & mechanical upgrades/maintenance)
- I still have more than $2M USD after buying the boat
- I took some time off contracting work but I'm probably done -- but I might still do some contracting in the future to pay for non-essential things (but nothing long term)
I now have a deeper grasp of why Jacob does not discuss his investment portfolio. I'm not saying my approach is good or one that anyone else should attempt to replicate. Just that I understand a bit more that aspect which I was always somewhat curious about.
Since I got back from buying the boat, we've been rushing around selling whatever we can, donating the rest and hopefully taking little to the garbage dump. We did get a storage unit but we're hoping to go cancel it without using it as it's just another ongoing expense I'd rather avoid (my parents thankfully will store a small amount of things for us).
In about 1.5 weeks, we all go back to the boat and begin living on it. I'm really excited for the rest of my family to see the boat in person for the first time.
I'm not sure when I'll post again. I want to go live in the world for a while without spending too much time on the internet. We've got a ton to learn and I'm excited. Also, somehow I lost 40 pounds over the past 3 months without much effort besides going to the kids swimming lessons (and swimming a bit too) and focusing on not eating too much. Life is good.
Re: SWB's path to financial independence
This is so sick. Looking back at your goals it looks like you've now reached all of them.
Congrats buddy. Go live your life without the internet but please come back with an update at some point. Such a huge win, you're living the dream.
I've always wondered why Jacob didn't share anything on investing since you mentioned it. Looking back he did succesfully contribute/spearhead FIRE/ERE without the need to touch on investing so there's that. I just felt like offering the complete solution (incl. an investment solution) would've been awesome - I know it's a bit off-topic.
Congrats buddy. Go live your life without the internet but please come back with an update at some point. Such a huge win, you're living the dream.
I've always wondered why Jacob didn't share anything on investing since you mentioned it. Looking back he did succesfully contribute/spearhead FIRE/ERE without the need to touch on investing so there's that. I just felt like offering the complete solution (incl. an investment solution) would've been awesome - I know it's a bit off-topic.
Re: SWB's path to financial independence
Retiring from the internet never to be heard from again is the ultimate flex within ERE.